Rising Commodities Will Lift Mobile Bay Home Prices
Mobile Bay home prices tend to rise with commodity prices over the long term. Currently, the Producer Price Index for construction is up 39 percent over the past five years, and prices for commodities like oil, copper, steel and cement are sky-high. Sooner or later the increasing costs of these raw materials will push home prices higher.
As the supreme commodity, every home is full of materials like steel, wood, and copper wiring. Presently, an oversupply of homes, along with an excess of foreclosures is keeping prices low, but home prices are rooted in hard costs and will eventually adjust to reflect the price of production.
Mobile Bay Real Estate: Do I Really Want to Own Rental Property?
Investing in Mobile Bay real estate and owning rental property sounds glamorous, but it isn't for everyone.
Be sure you know what you're getting into and understand what you are getting into before signing on the dotted line. Here are some questions you should ask yourself before purchasing an investment property:
Thinking it through ahead of time assures that you won't get caught making a rash decision you will regret later.
If you decide now is the time to take advantage of lower market prices and invest in Mobile Bay real estate and rental property, visit JudySells.com or give us a call, 251-990-0569.
Al Eastern Shore Real Estate: Welcome to Fairhope
Description to follow will allow you to take a driving tour through the Eastern Shore. Please remember this is a partial list but we want to share our natural beauty with you.
Founded in 1894 by a group of idealists from Iowa seeking a Utopian quality of life focused on common ownership of the land, Fairhope has evolved rapidly into one of the main centers of the Eastern Shore's commercial and cultural activity. Its founders believed that their progressive project had "fair hope" of coming to fruition and indeed the city's prominence in the area may well be due in part to its heritage of fortitude and perseverance.
Bright flowers, brick walkways, downtown galleries and shops all add to the small town charm of this beautiful city. The public pier with its rose garden, beach area, and duck pond is the hub for most of the year. Activities from sailing to sunbathing can almost always be viewed from anywhere along the bluffs and waterfront in Fairhope. Even a potential "Jubilee" can be spotted, under rare conditions of course, in the summer. There is a wide variety of public and private schools as well as two colleges located in Fairhope.
Residential areas run along the bay, wrap around the downtown area, and branch out further from town in a more country setting. From small garden homes to huge estate homes, with bay views or with lush gardens, it is all available in Fairhope.
Fairhope has the quaintness and the atmosphere to allow you to stroll through Downtown. Downtown is locally called Fruit and Nut District and The Bluff Area, which both are walking distance to town and the Bay.
Subdivisions featured:
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| Quail Creek Built in conjunction with the municipal 18 hole golf course |
Rock Creek Surrounding an 18 hole golf course and spectacular tennis facility plus fitness and swim. |
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| Audubon | Trentino |
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| Flying Creek | The Woodlands of Fairhope |
HAVE FUN ON YOUR DRIVING TOUR!!!
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There's been a lot in the news recently about the government takeover of government-sponsored enterprises Fannie Mae and Freddie Mac. But what does that mean for the AL Eastern Shore real estate market?
These agencies guarantee more than 40 percent of the nation's mortgages and own or guarantee more than $5 trillion worth of mortgages, so assuring their continued operation is crucial in the current economic environment.
The government's actions aimed to restore confidence and bring stability and continued liquidity to the nation's mortgage market. Interest rates came down immediately after the takeover, and it's likely that this will keep them low for some time to come.
Buyers benefit from lower rates, and sellers benefit from the increased demand created by buyers entering the market.
Learn more about AL Eastern Shore real estate at JudySells.com or give us a call, 251-990-0569.
Fannie Mae and Freddie Mac both announced they will not impose the loan fee increase scheduled to go into effect next month. Fees were to have increased from .5% to .25%, making it even more difficult for Mobile home buyers. The biggest obstacle many Mobile home buyers face is the necessary cash needed for a down payment and closing costs.
Both companies, now controlled by the federal government, had decided to increase fees to boost their finances during difficult times.
Freddie Mac, however, will raise fees next year for riskier loan products, including mortgages that allow interest-only payments for the first few years. Freddie also will require higher credit scores for "piggyback" loans that allow borrowers to make smaller down payments by taking out two mortgages.
Taken together, Freddie Mac said the changes would provide "some relief from the challenges in the current market environment," but added that it is following lending practices "that are prudent and largely applicable in all market conditions."
Learn more about Mobile home loans at JudySells.com.
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Whether buying, selling, relocating to the Eastern Shore of Alabama, Baldwin or Mobile Counties, The Judy Niemeyer Team is ready to listen to your needs and make a committment to you. Join us today.
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