Move-Up Home Buyers Rejoice!

If you do the math, you may discover you can buy more house than you could have previously afforded in 2006. This first graphic explains how just a 20% loss in values allows you to purchase a home and gain more value in the ‘move-up’ home. In this example you see a $50,000 gain.

When values rise again, you may appreciate and even greater gain as demonstrated in the table below. In this example, you see a total gain of $90,000.

In our final demonstration, you can see that waiting to make your decision can greatly impact your monthly payment and affordability if you consider today’s interest rates compared to what they may be in the future. If interest rates rise even modestly, you will see a significant increase in your payments. Maybe you want more square footage in your Daphne, Fairhope or Spanish Fort home. Opportunity may be knocking.

If you have been toying with the idea of buying a luxury home, a home with a pool or golf course home, but think now is not the time, think again! Now may be your best opportunity ever to get the DREAM HOME! Why don’t you contact us if you think this makes sense for you. No pressure, but we can certainly discuss your circumstances.

Resource credit goes to Keeping Current Matters.

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What Are The Odds of Your Property Selling?

Everyone focuses on sold prices and competing prices. Why? Because this is vital information when pricing your home. You need to know what homes around you are selling for and this also comes into play with the appraisal. Even if someone gives you the price you want, it still has to appraise.

The other factor is competing homes. If you are the highest priced home, even with really great features, chances are that you will not be the first to sell. Buyers are looking for low prices and figure they can upgrade over time any features that are not to their liking.

Lets talk about the much-overlooked but vital tool in analyzing your property and the odds of it selling. In any given market, in any given time, only so many properties will sell. This is known as ‘Absorption Rate’. In other words, how many months of inventory is available? Let me provide a simplified example, although there is more precision involved when evaluating a property:

Lets say if in 6 months 5112 properties sold in your county. That would be an average of 852 properties sold per month. If you then take the current active listings, lets use 7333 and divide it by the average homes sold per month, you would have a 8.6 month inventory. If no other properties come on the market, it would take 8.6 months to sell everything. Lets go further. Take those 5112 properties sold in 6 months and divide that by the number of closed, active, expired, withdrawn listings in the same 6 months and you would come up with a 29% probability of selling your property.

How does this impact you? It helps you determine how you are going to price your property to get it sold. If you price it too high, the probability of your property selling soon is unlikely. Your agent is in charge of the process. You, the seller, are in charge of the decisions and how competitive you are going to be.

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Brand Advertising Matters to Home Sellers

RE/MAX | Top Real Estate Company | Daphne  AL | Fairhope AL | Spanish Fort AL

As a home seller in Daphne, Fairhope or Spanish Fort AL, you will want to hire the top real estate company to sell your house or property. It is important to consider marketing and brand awareness as part of that equation. RE/MAX International has surged ahead of our competitors in maintaining and increasing market presence and visibility. While others have pulled back on the advertising dollars during these tough economic times, RE/MAX has taken a long view and invested accordingly. When people think of buying or selling real estate, RE/MAX is to top brand that comes to mind. RE/MAX agents sell more real estate, and that’s not just a slogan.

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Under Contract in Robertsdale AL

Tia Stanley Team | Home Under Contract | Robertsdale AL

The Tia Stanley Team with RE/MAX BY THE BAY has another home under contract. This is a great property located in Robertsdale, AL that has just over an acre and terrific layout, that includes a complete upstairs suite. Check it out here: 20459Hwy90.com

20459 Hwy. 90 Robertsdale AL 36567

Beautiful home with over an acre and a pond.

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Home For Sale in Spanish Fort AL – Just Listed!

Spanish Fort AL Home For Sale | The Woodlands of Spanish Fort | Spanish Fort

Ideally located and well maintained in The Woodlands of Spanish Fort. This home has a fabulous layout that includes a spacious and cheerful sunroom overlooking a lovely patio. Check out the property website: 7000PoncedeLeon.com to see all the photos, maps, school info and more. Spanish Fort is a great place to live and offers convenient access to I-10 for those working across the bay in Mobile.

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We Are Selling A Lot of Real Estate!

Everyone knows it is a buyer’s market and that sellers have taken quite a beating. There are many competing properties and new construction is the toughest competition because most home buyers prefer new, if they can get it. It is more important than ever to have great presentation.

The Tia Stanley Team provides the best home marketing you can get! It is our job to get buyer’s looking at your home. We make a financial investment in every listing and we expect to sell it. Our team has developed an exclusive and distinctive plan designed to attract buyer’s.

Photos may be one of the most vital aspects of marketing your property. Buyers demand lots of good photos. You have seen those ‘bad’ photos where it is just a dark blob, or there are are very few to look at. What if you could have great photos and lots of them? Well, good news…we have invested in excellent camera equipment, wide angle lens, flashes, tripods, & software to get the best photos of your property. Oh, and some training too as there is much to learn when going for WOW photos.

Prepare your home for photos: Clear off all the kitchen and bathroom counters. Minimize items on dresser tops, take the magnets and art off of the refrigerator. Put away the shampoo bottles and temporarily hide your bath rugs and kitchen rugs. We want to emphasize the home and the space, not your personal things. You may want to put away photos of your children for the pictures as they will be online. We will do the rest! Depending on the size of the property and it’s features, we typically snap 100 – 200 photos.

If you are serious about selling, we would love to share all that we do with you. Contact us for a one-on-one presentation or a CD presentation.

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Great News! Baldwin County Real Estate Market Improves!

February 2011 stats are out and here is a summary for Baldwin County and specifically the Eastern Shore which includes the cities of Daphne, Fairhope, & Spanish Fort:

Average sales price in the County increased 6.14% from January to $221,411. The median sales price rose 13.9% to $176,850. The Eastern Shore median sales price rose 10.24%, the Gulf Shore Beach area rose 12.02 and North Baldwin increased 30.34%.

The south and central portion of Baldwin County, however saw the median sales price decrease  52.10% and 39.77% subsequently. This is likely attributed to large inventories and foreclosures.

The number of Sales for the whole county rose 55.48%, and specifically 24.71% on the Eastern Shore, 63.61% in North Baldwin, 20.83% in the Central area, 12.87 at the Gulf Beach, but decreased 1.61% in South.

Baldwin County also saw a decrease in the Average Days on Market from 211 in January to 198 in February. The Eastern Shore increased average DOM by 3 days to 189.

It appears that the Baldwin County market is reflective of  the national trend which is resulted in a 13.8% regarding number of homes sold in December.

Information source was obtained from the Center for Real Estate Studies & Baldwin Multiple List Service.

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Baldwin County AL February 2010 & 2011 Home Sales

As you can see below, in comparing February 2011 sales in Baldwin County, Alabama to February 2010 there has been a 9.51% drop in the average home selling price year-to-year. On the positive side we had 888 fewer homes listed (inventory) as the same time last year which equates to a 13 month supply of homes versus 22 months of supply. This is an improvement in the right direction to eventually become a seller’s market, which happens when we have a 6 month or less, inventory. It is also encouraging to see a rise in the number of sales from 209 to 279 for the month of February, and the days on market are relatively similar. 

Baldwin County

 Area

Current Data

Feb-2011

Compared To

Feb-2010

% Change

Median Home Price $175,000 $150,000 16.67%
Average Home Price $219,315 $200,270 9.51%
Units Listed 3662 4550 -19.52%
Months of Supply 13 22 -39.83%
Total # Sales 279 209 33.49%
Days on Market 188 180 4.44%
Market Type Buyers Buyers  

 The above data and % change is provided to illustrate the “general” market direction & trends when comparing a prior date with the most current residential data available. Real estate is local and ACRE recommends that you consult your local realtor for “specific” advice associated with your market. Information obtained from ACRE-The University of Alabama.

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