Home sales rise more than 7% in July
For the first time in five years, existing-home sales have increased for four months in a row, according to the National Association of Realtors®. Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 7.2 percent to a seasonally adjusted annual rate1 of 5.24 million units in July from a level of 4.89 million in June, and are 5.0 percent above the 4.99 million-unit pace in July 2008. The last time sales rose for four consecutive months was in... Read Full Story
Mobile Realtors announce new marketing campaign
The Mobile Area Association of Realtors, in conjunction with the Gulf Coast Multiple Listing Service, is kicking off a marketing campaign on August 12th at 9 AM with a press conference featuring Mayor Sam Jones and Dr. Donald Epley of the USA Mitchell College of Business Center for Real Estate Studies, to spread the word that the residential real estate market in Mobile, Alabama is much better than national statistics would have you believe. This campaign will encourage potential homebuyers a... Read Full Story
Mobile is vying to regain title of the nation's rainiest city
In June we had no rain, but the last two weeks of July and continuing into this month, Mobile is being drenched daily. It's not an all day rain, but rather sudden deluges. The streets become flooded and in many cases almost impassable. But it is Mobile. And historically Mobile has reigned as one, if not the number 1, rainiest cities in America. Read Full Story
Agents trying all kinds of tricks to boost sells
Large numbers of Realtors are jumping into the social networking scene and are actually seeing results in rising sales. But just because one technique such as blogging doesn't work for one agent, doesn't mean it won't work for another. A lot depends on one's willingness to learn and stay ahead of the curve in ever emerging technology tools. But even in the new age of social networks, Twitter, and numerous other Web based marketing tools a lot of agents are turning to some old tricks to get l... Read Full Story
Sand Island Lighthouse honored with stamp
While much of the focus this summer has been on the Middle Bay Lighthouse and whether or not to move it onshore to prevent further deterioration, the endangered Sand Island Lighthouse is gaining some recognition. Sand Island will be honored with a stamp to be released this week. The Sand Island Lighthouse is among five historic landmarks chosen. The other four sites to be honored include Mattagorda, Texas, Sabine Pass, Louisiana, Biloxi, Mississippi, and Fort Jefferson, Florida. For more on t... Read Full Story
New government programs to help in refinancing
Appraisals have always been key to refinancing. Traditionally, the mortgage amount could not exceed the property’s current market value. Those with Adjustable Rate Mortgages stuck with unaffordable mortgage payments, or those tempted by historic low interest rates have good reason to want – or need – to refinance their loans. Luckily, the federal government has introduced programs to help.   The Obama Administration’s Home Affordable Refinance Program, launched ea... Read Full Story
Mobile market still holding its own...
In a recent study out of the Center for Real Estate Studies, University of South Alabama it is reported that the average sales price for June increased a modest 0.2 percent from $150, 403 to $151,121. The number of sales declined slightly from 303 in May to 296, and the average days on the market declined to 81. The highest volume of properties sold is in the $100,000 to $149,999 price range with 99 which increased from 94 in March. The total number of sales from $0-$149,999 represe... Read Full Story
Mobile and beyond: Surprising Alabama
This article is more than just about Mobile although I have only posted some portions that mentioned the city. The writer also discusses Monroeville, New Orleans, and other surrounding areas. We have always thought Mobile was a locale not familiar to a larger portion of the US and even the rest of the state of Alabama It’s our ‘little secret’ that Mobile is always hopping with plenty to do socially with hardly ever a dull moment and thriving despite a downturn in the economy... Read Full Story
Is Mobile your perfect city?
What would it take to make Mobile a perfect city for you? — better restaurants, more major shopping venues, an amusement park, parks, or professional sports teams? When asked these questions, I’m sure we would all give somewhat different answers for the most part. Obviously there are certain traits we all would like to see — a sustainable economy, more assessable healthcare, better roads, etc. In a recent study by Terri Denard, an instructor at Samford University, she compar... Read Full Story
Pending home sales show a sustained uptrend
Pending home sales show a sustained uptrend, rising for four consecutive months with very favorable housing affordability and a first-time buyer tax credit boosting activity, according to the National Association of Realtors.  For more, see the article in Realty Times. For more indepth information on the local Mobile market, see Market Conditions. According to the local survey, Pending home sales rose with many first-time buyers taking advantage of historically good housing affordability... Read Full Story