Daphne, AL Real Estate News

By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
Home sales statistics on the Eastern Shore of the Mobile Metro area continue to show signs of a stabilizing market, though Realtors generally believe home prices continue to fall. Both home sales and pending sales in Spanish Fort, Daphne and Fairhope/Point Clear showed slight increases over June, 2009. Yet, 20 percent of home sellers reduced prices in July alone to move property. Seventy-six homes sold in July, up from 73 that sold in June. Pending sales remain encouraging with 162 single-family residences under contract, up from 157 in June. There was a little erosion in the list-to-sale percentage which fell from 96.21% in June to 95.88% in July.     Here are the stats for the Eastern Shore in July, 2009:Total houses for sale: 1,214Spanish Fort: 147Daphne: 372Fairhope: 562Lake Forest:...
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By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
Want some good news? The number of homes sold on the Eastern Shore increased 24 percent in the 2nd quarter compared with the 1st quarter.   Priced right for today's market, homes will sell. Looking at month-by-month sales, it seems that we are bumping along what I hope is the bottom.   Between Spanish Fort and Point Clear, 207 homes sold this past quarter, compared to 157 sales in the 1st quarter of 2009 and 227 sales this time last year. The average sales price was $247,779 this quarter, up from of $223,575 in the first quarter, but down from $301,631 this time last year.   Foreclosures (15) and short sales (2), were among this quarter's sales. And judging by public records listings, there will continue to be distressed properties reaching the market.   The average time it took to sell...
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By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
June home sales dipped slightly but pending sales and the list-to-sale percentage show that the market may be stabilizing.Seventy-three homes sold in June on the Eastern Shore of the Mobile Metro area, down from the 77 sales in May in the area encompassing Spanish Fort, Daphne and Fairhope/Point Clear.Pending sales increased from 136 in the first week of June to 157 as of July 8, 2009. Sellers also got on average 96.21% of the list price in June, compared with 95.89% in May.  Here are the stats for the Eastern Shore in June, 2009:Total houses for sale: 1,251Spanish Fort: 148Daphne: 377Fairhope: 600Lake Forest: 126 Pending salesTotal: 157Spanish Fort: 28Daphne: 69Fairhope: 42Lake Forest: 18  Closed sales for June 2009Total: 73Average sales price: $252,497, down from $265,549 in May.Media...
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By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
With the South in the grip of a record-breaking heat way, air-conditioning systems are dropping like flies. HVAC technicians are working from dawn to midnight in my area. And as I seem to be going through one of those periods where everything starts breaking down (cars, a generator, and even my father's knee-cap), I have been able to "fix" two air-conditioners by simply catching up on routine maintenance by cleaning out the condensation overflow lines. These lines are designed to remove the condensation created by the air-conditioner squeezing the humidity out of the air. Your main condensation line should flow to the outside of the house. Algae and other materials can clog it over time and that's when the condensation overflow line takes over. This line usually drips to the outside in ...
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By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
May home sales increased 22 percent over April on the Eastern Shore of the Mobile Metro area. This typical seasonal bump of 77 homes sold was still some 15 percent lower than sales in May 2008 when 91 houses closed. However, it was better than April's 53 sales in Spanish Fort, Daphne/Lake Forest and Fairhope/Point Clear. Pending sales have declined slightly with 136 homes under contract, compared to 143 under contract this time last month. Average sales price and median sales price both rose significantly. But this reflects the type of home selling, not that home prices are increasing across the board. In fact, May marks a milestone: The first and only home over $1 million to close on the Eastern Shore this entire year closed in May.   Here are the stats for the Eastern Shore in May, 20...
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By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
Pending home sales increased in the last half of April on the Eastern Shore of the Mobile Metro area. Overall, home sales declined in April to 53 homes sold in Spanish Fort, Daphne, Fairhope and Point Clear, showing that the housing market is still bobbing through choppy waters. To demonstrate the crests and troughs in sold stats: January: 40 February: 54 March: 60 Expect better stats in May, with 143 homes under contract in this area, up from the 108 homes that were pending the first part of April. Still, there is a 22-month supply of homes at the current selling rate. Only 35% of the homes under contract are more than $250,000, while this price range makes up 58% of the homes on the market on the Eastern Shore.     Here are the stats for the Eastern Shore in April, 2009: Total houses ...
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By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
We have to look at what we have, not what we had. That's the advice of Suze Orman, personal financial guru. What we have are glimmers of better days ahead. The stock market had a bit of a rebound. Nationally, existing home sales in February rose 5.1 percent. And with low interest rates and tax incentives for buyers who haven't owned a home in the last 3 years, it's a super time to make an offer. Locally, buyer activity has picked up, with more people looking at homes, though that has not yet translated into homes going under contract. Buyers seem to be waiting until it suits their move schedule and they find the best house at the lowest price. Home sale volume in Spanish Fort, Daphne/Montrose, Lake Forest and Fairhope/Point Clear was little changed in the first quarter of the year. Ther...
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By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
March homes sales on the Eastern Shore of Mobile Bay rose again to 60 homes sold in Spanish Fort, Daphne, Fairhope and Point Clear in January, compared to 54 in February and 40 in January. Buyers are looking, but that's not materializing into a strong increase in pending sales. As of April 7, 108 homes are under contract, compared to 92 last month and 102 in January. As the reality of the housing market correction sinks in, over 590 price adjustments -- a few up but most down -- were made in March. Inventory increased to 1,190 homes for sale, up from 1,129 in February. Here are the stats for the Eastern Shore in March, 2009: Total houses for sale: 1,190 Spanish Fort: 134 Daphne: 364 Fairhope: 561 Lake Forest: 131   Pending sales Total: 108 Spanish Fort: 26 Daphne: 43 Fairhope: 28 Lake F...
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By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
February home sales on the Eastern Shore ticked up to 54 houses closed compared with 40 homes sold in Spanish Fort, Daphne, Fairhope and Point Clear in January. For a February, it wasn't a bad month compared to the fall of ‘08. It was, however, not as good as February 2008 when 64 homes sold. A couple of things stand out from analyzing data from the Baldwin County Multiple Listing Service. Only 6 homes on the Eastern Shore over $400,000 have gone under contract since the first of the year. Pending sales registered a slight decline with 92 homes under contract as of March 4, 2009, compared with 102 under contract a month ago. As expected in our early spring, inventory is rising with 1,129 homes on the market in this area, an increase of 50 listings over last month.  Here are the stats fo...
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By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
January has never been a strong month for home sales. So it's no real surprise that only 40 homes sold in Spanish Fort, Daphne, Fairhope and Point Clear last month. In fact, only 42 sold in January 2008. So I remain watchful for signs showing the housing market's direction in the coming months. Pending sales are up to 102 as of Feb. 4, 2008, compared with 86 homes under contract just after the New Year. Inventory remains roughly the same at 1,090 homes for sale on the Eastern Shore. A couple of statistics show that sales of high-end homes were anemic, with the average sales price dropping dramatically. However, the list-to-sale percentage rebounded to 94.21% in January, up from 91.99% in December. Stats are drawn from the Baldwin Multiple Listing System. Here are the stats for the Easte...
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By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
2008? Whew! Glad that's over. 2009? At least we know what we're dealing with. Here's a backward look on a sorry year in real estate, and a forward look in which I will stick my neck out.   2008: •n       Twenty-four percent fewer homes sold than in 2007 from Spanish Fort to Point Clear.   •n       Foreclosures, short sales and distress sales (essentially pre-foreclosures) captured buyers' attention. •n       On the Eastern Shore, the average sales price was down only 1% from the previous year and the median sales price was down just 6%. But it didn't feel that way, and a late-year statistic proved the point: In December, sellers took on average 8% off the list price to move their homes.   2009: •n       Interest rates have already dropped after the Fed unveiled a plan to buy $500 billio...
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By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
Home sales improved in December in Spanish Fort, Daphne, Fairhope and Point Clear. Sixty-six homes sold in December, up from the abysmal statistic of only 47 home sales in November. Pending sales dropped to 86 under contract as of Jan. 3, 2009. That's a decrease from the 98 under contract in November. Inventory dropped from 1,157 homes for sale on the Eastern Shore as of early December to 1,079 homes for sale Jan. 3, 2009. But this is only because a tremendous number of listings expired with the old year. Expect them to be brought back on the market rapidly. Interest rates dropped before Christmas to a low of 4.25%, but that held briefly. Still, rates have vacillated in the upper-4% to lower-5% area since. The list to sale percentage has widened, meaning sellers are making deals to get ...
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By Teresa Cox King, Orange Beach and Gulf Shores, Alabama
(RE/MAX of Orange Beach)
I was recently asked to provide information to a potential seller about what today’s buyer is willing to pay for homes in the Lake Forest area of Daphne, Alabama. I thought after my research that I would post this timely information as others may benefit from it, and it does apply to all areas and subdivisions in Baldwin County as well. As you have probably noticed in your neighborhood, many nice homes are sitting on the market and are not selling. Why is that? Because buyers are not willing to pay top dollar in this market we are now in. You may be wondering what is selling, what buyers are looking for today, and what prices homes will bring. Today, there are 139 homes for sale in the MLS in Lake Forest alone, with 9 of these pending. In addition, there are a few dozen for sale by owne...
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By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
November 2008 home sale statistics for Spanish Fort, Daphne and Fairhope, Alabama Home sales in November, 2008, dropped to 47 houses sold in Spanish Fort, Daphne, Fairhope and Point Clear. This follows the home sales peak of 135 sales in July, then a decline to 84 in August, 71 in September, and 53 in October. Pending sales have risen slightly to 98 homes under contract, compared with only 87 under contract in October. Inventory continues to decrease slightly to 1,157 homes for sale on the Eastern Shore as of Dec. 3. As we all know, there are few bright spots in the economy these days. A big however is that mortgage interest rates have fallen, hovering around 5.25 percent. Let's hope that word spreads.   Here are the stats for the Eastern Shore in November: Total houses for sale: 1,157 ...
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By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
The last time the Eastern Shore home sales market was this slow was October, 2001, the month after 9/11 attacks on the United States. Home sales in October 2008 dropped again to only 53 homes sold in Spanish Fort, Daphne, Fairhope and Point Clear. This follows the home sales peak of 135 sales in July, then a decline to 84 in August and 71 in September. Pending sales have also fallen to just 87 homes under contract to sell. While disappointing, this is not surprising as that nation was spellbound by the erratic spiral downward of the stock market, coupled with the last month of presidential politicking. Inventory continues to slide slightly from a peak around 1,300 this summer to 1,183 for sale on Nov. 6. Today, interest rates are reacting to market news and are entrenched above 6% local...
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By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
    Ever-increasing homeowner insurance rates are not only affecting family budgets, but also home sales.    For example, an older home north of Interstate 10 in Spanish Fort - elevation 150 feet above sea level - would appear to be a likely candidate for lower rates. Not so, prospective buyers are finding. In fact, they may be shocked to find that they need to be insured through the Alabama Insurance Underwriting Association (AIUA), also known as the "beach pool."    The root cause is that insurers are trying to reduce their liability along the entire Gulf Coast. To do that, they have constructed parameters on what they will insure and where.    Three Eastern Shore insurance agents whom I contacted agreed to tackle a couple of questions to try to explain: They are: Lad Drago Jr. of Sta...
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By Janet English, Market expert in Daphne, Spanish Fort, Fairhope
(RE/MAX By The Bay, Daphne Alabama)
What's happening in the big wide world of real estate and finance these days?   The answer is way above my pay grade.   Locally, I can tell you it's a good time to buy. Lenders have money,  the interest rate is very good and there are plenty of houses for sale.   If I could figure out anything more for our future, George Bush would be painting my toenails while Larry King interviews me in my living room.   Here's what did happen in the last quarter before the collective Freak Out over The Bailout, The Market and The Election.   Price corrections in the Eastern Shore housing market produced mixed news in the 3rd quarter: The number of homes sold rose over the previous quarter, but sellers took on average 5% off their list prices to make the deals happen.   Buyers gravitated to foreclosur...
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By Tia Stanley, ...focused on people & the places they love!
(RE/MAX CAPITAL)
THERE ARE MANY PLEASURES TO BE FOUND IN THE UPSCALE TIMBERCREEK COMMUNITY FROM PLAYING A ROUND OF GOLF OR TENNIS, TAKING A SOOTHING SWIM IN ONE OF THE BEAUTIFULLY MAINTAINED POOLS, WORKING OUT IN THE FITNESS CENTER, WALKING OR RUNNING ON THE ENDLESS NEIGHBORHOOD SIDEWALKS, OR ENJOY ONE OF THE POPULAR COMMUNITY EVENTS HELD AT THE COMMUNITY CENTER. NEED STORAGE FOR YOUR BOAT OR TRAILER? NO PROBLEM. FOR A VERY LOW MONTHLY FEE, TIMBERCREEK HAS STORAGE AREAS AVAILABLE FOR RESIDENTS. YOU WILL LOVE THE QUIET SERENITY FOUND IN TIMBERCREEK, BUT YOU ARE JUST MOMENTS AWAY FROM EASTERN SHORE CENTRE/MALBIS MALL WHERE YOU WILL FIND DILLARDS, MICHAEL'S, ROSS, TUESDAY MORNING, BED-BATH & BEYOND, OLIVE GARDEN, RUBY TUESDAY AND MANY OTHER SHOPPING & DINING VENUES. IN ADDITION, A NEW MOVIE THEATER IS CURR...
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By Barbara S. Reeves
(RE/MAX By The Bay)
Today, Friday the thirteenth is "Happy Birthday" for our English Springer Spaniel Abby's puppies. Abby was my husband Gerald's Christmas present in 2006. She is such a social party animal that we decided she needed a real play mate. Abby is such a good Mother to our two cats we decided to breed her to have maybe two or three maybe four puppies to play with. Susan, the receptioist at my real estate office in Daphne, also has registered English Springer Spaniels, so we introduced Gumbo and Abby, the two hit it off great, we had an engagement party around Christmas for them, complete with some great bones. Four months later came the wedding and one day honeymoon, remember we wanted two to four sweet grandbabies. A trip to the veternarian for the prenatal visit brought some shocking news .....
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By Michael Dorsett
(Roberts Brothers Inc.)
Statistics in Mobile and Baldwin County Area This Month This report represents 6 day(s) worth of data so far this month. Listing Highlights The most popular listing on Mobile and Baldwin County MLS Board(s) this month is: - 200 PARMA DR #P2, DAPHNE, AL 36526 The most popular listing on my web site, www.alabamasbestrealestate.com  this month is: - 200 PARMA DR #P2, DAPHNE, AL 36526 Market Conditions There are 9,268 listing(s) currently active on Mobile and Baldwin Counties MLS Board(s) - This is LOWER than it was last month The average price of a single family resident listing on Mobile and Baldwin counties MLS Board(s) is $287,176
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