Economic news

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“Alabama Realtors are Hoping for a Possible Increase in Mortgage Demand while Rates Slightly Rise in 2010!”

02/03/2010 in Economic News, Real Estate Market And The Mobile Bay Metro Area! | No comments

As of today, 3rd February 2010, the refinance rates are, as follows: (1) 30 yr Fixed Rate, Today, 5.19%, Last Week, 4.94%; (2) 15 yr Fixed Rate, Today, 4.4%, Last Week, 5.06%; (3) 5/1 ARM, Today, 4.53%, Last Week, 4.12%.

According to an article in Mortgage News Daily, “A rising trend of mortgage applications indicates an increase in home buying interest, a positive for the housing industry and economy as a whole. More home purchases can lead to more construction jobs and increased purchases of items to build a home. Furthermore, in a low mortgage rate environment, an increasing trend implies consumers are seeking out lower monthly payments which can result in increased disposable income and therefore more money to spend on discretionary items or to pay down other debt.”

The article further states, “Don’t wait for mortgage rates to decline! I stand by my statement that 4.75% could very well be the lowest mortgage rates offered in 2010…unless there is a fundamental shift in economic outlook. If you have been waiting to refinance or to buy, get out there and start the process before you miss the boat of sub 5% rates.”

Click this web-link, http://www.mortgagenewsdaily.com/consumer_rates/132989.aspx, to read the entire article by Victor Burek.

The Mobile Bay Metro Area, Baldwin County and Mobile County of Alabama, has ongoing (and potential future) economic projects which may have an advantage over other U. S. regions. Our real estate market should draw more positive attention in the near future.

Contact Al Cheney, Certified FHA Approved Real Estate Appraiser, (251) 533-2424, when requiring a residential appraisal report for refinancing, settling an estate with real property, or various other litigation reasons in Alabama. Email your orders and questions to Albert@CheneyAppraisalServices.com/.

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FHA Real Estate Appraisers and REALTORS Talk About The Market Conditions In “TimberCreek,” Baldwin County, Alabama.

01/25/2010 in Baldwin County Alabama Neighborhoods! | No comments

The TimberCreek residential development is a great golf community located alongBLOGphoto-TimberCreek-Sign-01252010 [01] the south side of U. S. Highway 31, the west side of Alabama State Highway 181, on the north side of U. S. Interstate Highway 10 and just minutes east of the delta areas and Mobile Bay.

TimberCreek is conveniently located near major regional shopping centers, such as, the Malbis Regional Shopping Center, and Historic Downtown Mobile, Alabama is only about 20 minutes west by traveling along the I-10 BayWay. Gulf Shores, Orange Beach and Alabama’s white sandy beaches and blue-green waters of the Gulf of Mexico are about a 30-35 minute drive south by either Alabama State Highway 181 or U. S. Highway 59.

Currently, TimberCreek has at least twenty-six (26) active MLS (multiple listing service) REALTOR listings, about 18 homes with 2,500 to 4,200 square feet, and having asking prices between $300,000 and $500,000.

There have been around twenty-five (25) home sales in BLOGphoto-TimberCreek-GolfCourse-01252010 [02]the past twelve months according to the Baldwin County Association of REALTORS. The vast majority of these TimberCreek homes ranged from $275,000 and $550,000. The lowest sale price was $214,900 for a three bedroom, two bathroom home with 1674 square feet. The highest sale price was $849,000 for a four bedroom, four full bathroom, two half bath home with 6,240 square feet.

The Sales Per Month Absorption Rate is currently three (3) homes per month in TimberCreek. With 26 active listings, the current housing supply is 8.67 months (26 active listings divided by 3 home sales per month).

TimberCreek‘s Median Comparable Sale Price is now $365,000 compared to $472,000 BLOGphoto-TimberCreek-Homes-01252010 [05]four to six months ago. The days on market (dom) appears to mostly range from 134 days to 146 days over the past 12 months.

TimberCreek‘s Median Sale Price as percentage of list price has slipped over the past twelve (12) months, and now seems to be somewhat recovering: 96.76%, 7-12 months ago; 89.95%, 4-6 months ago; past 3 months, 92.68%.

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Albert Cheney, Broker of Realty Leaders Corporation, offers 3.33% listing agreements to homeowners in Baldwin County and Mobile County of Alabama. Albert Cheney has 35+- years experience in the real estate industry. Call Albert Cheney at (251) 533-2424 or email RealtyLeaders@RealtyLeaders.biz, if you require more information about Alabama real estate and talking more about listing your home.

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Certified FHA Approved Appraisers and the Mobile Area Association of REALTORS talk about “Kings Mill” Subdivision.

01/21/2010 in Mobile County Alabama Neighborhoods! | No comments

WEB-BlogPhoto-KingsMillSubd-2009 [12]The Kings Mill subdivision is located along the western side of WEB-BlogPhoto-KingsMillSubd-2009 [05]Knollwood Road, south of Cottage Hill Road, the western part of Mobile, Alabama.

The Kings Mill development has 39 homes, built between 1998 and 2004, with most having 1,850+- square feet to 2WEB-BlogPhoto-KingsMillSubd-2009 [03],700+- square feet of living area. The majority of homes have 3 bedrooms and 2 or 2 1/2 bathrooms. There are about nine homes having 4 bedrooms. The home values will mostly range between $275,000 and $300,000.

Albert Cheney, Cheney Appraisal Services, covers the Mobile Bay Metro Area, Baldwin County and Mobile County of Alabama. Albert Cheney is an active Certified Residential Real Property Appraiser and FHA Approved Appraiser with 35+ years experience in the real estate industry. Call Albert Cheney at (251) 533-2424 or Albert@CheneyAppraisalServices.com if you require more information about Alabama real estate and ordering a “Certified” real estate appraisal report.

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Downtown Mobile-A Reflection of Southern Heritage, Business Revitalization, Its Historic Districts and Its People!

01/09/2010 in Economic News, Real Estate Market And The Mobile Bay Metro Area! | No comments

The city of Mobile was founded in 1702 and, the Mobile Bay area was explored by the Spanish as early as 1519. Mobile is a city older than New Orleans and has many historic districts which rival those found in Charleston or Savannah. The city of Mobile was settled by the French and, eventually, under rule by the Confederate, English and Spanish through its history. The downtown architecture and the names of streets reflect the past influences from each country who ruled this Mobile Bay Area.

Albert Cheney, Cheney Appraisal Services, covers the Mobile Bay Metro Area, Baldwin County and Mobile County of Alabama. Albert Cheney is an active Certified Residential Real Property Appraiser and FHA Approved Appraiser with 35+ years experience in the real estate industry. Contact Albert Cheney at (251) 533-2424 or Albert@CheneyAppraisalServices.com if you require more information about Alabama real estate and ordering a “Certified” real estate appraisal report.

Albert Cheney shares some of his 2009 photographs of Downtown Historic Mobile, Alabama.

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For more information about Historic Mobile, Alabama, go to this website, http://www.historicmobile.org/.

(Photography by Albert Marshall Cheney, Mobile, Alabama.)

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REALTY LEADERS CORPORATION, a listing brokerage company in “The Mobile Bay Metro Area of Alabama!” Albert Cheney has over 30 years experience in the real estate industry! Call 1-251-533-2424 for more information.

11/26/2009 in Economic News, Real Estate Market And The Mobile Bay Metro Area! | No comments

Welcome to Realty Leaders Corporation! This real estate company concept began in May 2002 with a commitment to integrity and professionalism. Realty Leaders places special emphasis in assisting owners who are wanting to sell their property in either Baldwin County, Alabama or Mobile County, Alabama.

The business philosophy for Realty Leaders is always wanting to make the listing experience and selling process easier for property owners. Realty Leaders has a goal in selling your real estate property within the least amount of time and offering low, reasonable commission fees. (Real estate commission fees are always negotiable, may vary from company to company, and will depend on complexity, agreed listing arrangements and or location.) 

Realty Leaders‘ website will evolve into a reflection of our belief in customer service and providing an exceptional real estate listing experience over the coming months and years to come.

Each week, you will also see new articles, comments, opinions, and other informative web links and topics designed to assist our clients and visitors. 

Realty Leaders and broker, Albert Marshall Cheney, would like to thank you for visiting the website. Please choose to keep this website as a favorite. Also, if you have any suggestions for real estate topics to be covered on this website, send an email to RealtyLeaders@RealtyLeaders.biz and Al Cheney can be contacted at 1-251-533-2424.

Realty Leaders Corporation, Post Office Box 8888, Mobile, Alabama 36689-0888

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