Posts Tagged ‘Baldwin County Economic News’

The marketing conditions in the Lillian, Alabama area indicates an increase in active listings and an increase in the months of housing supply (total listings/absorption rate) which could jeopardize local property values.

Over the past 12 months (13 June 2009 to 13 June 2010), there has been a reduction of 63% in sales (88 sales in the past 12 months), resulting in an over 20 months absorption rate (115+ active listings at this posting).

The active listings and housing sales primarily range from $29,900+ to $999,000+, including manufactured homes, colonial, contemporary, cottage, ranch, and other accepted local styles.

The median sale price percentage is 92.616% to 94.299% when comparing to asking list prices. Properties will move quicker if asking prices are competitive. So, unless competitively priced, be patient, a rising absorption rate will result in longer times when selling your home within Lillian, Alabama.

Contact Cheney Appraisal Services for additional information by telephoning (251) 533-2424 or email your comments and questions to Albert@CheneyAppraisalServices.com.

The coastal properties in Alabama, Florida, Louisiana, Mississippi and Texas will be affected by this catastrophic oil spill for years to come. As of today, now 47 days and still counting, BP Oil has been ineffective in successfully stopping the flow of oil. Therefore, our Gulf Coast is faced with environmental devastation, loss of marine life and wildlife, further property devaluation (not that inept governmental and political faux pas were enough to damage), illusion of an economic recovery, businesses closing, and loss of livelihoods for longtime residents.

As a person who has lived in the Mobile Bay Metro Area (Baldwin County and Mobile County of Alabama) the majority of my life, this massive oil spill in the Gulf of Mexico conjures up so many emotions and thoughts inside me and, many unkind words (please forgive) towards all who have dragged this on for much too long. Also, the lack of expedience and nondisclosures which could be labeled lies has certainly not helped to comfort Gulf Coast residents. It is quite evident that many Gulf Coast residents do not believe BP Oil and the government have properly handled this oil spill catastrophe.

Anyway, this oil spill catastrophe will apparently be with us for many months and years to come. Our Gulf Coast area will never be the same and will definitely affect the United States as a whole and potentially have International negative implications. Also, unfortunately, coastal properties more than likely will be faced with further decline in value; not that government intrusions and regulations as well as poor and restrictive lending practices have already been enough to damage our property values and the real estate industry as a whole.

So, how will the coastal real estate marketability be affected within the Gulf Coast states? Whether true or not, the stigma of an oil spill catastrophe will, in my opinion, have a potential affect on the marketability of properties along the Gulf Coast. How much of an affect is still an unknown? The future selling of coastal properties should begin to hold the answers to these questions. So, “time will tell.”

Is your property rich in oil? If so, it’s certainly not the way you want to discover oil on your property. Contact a professional you trust and get sound advice when the stigma of oil has knocked on your door. There are many good Certified Real Estate Appraisers and Attorneys in the Gulf Coast states. It is always important to understand the affects of this oil spill upon our coastal properties.

Information and opinions have been provided by Cheney Appraisal Services, Albert Marshall Cheney, a Certified Residential Real Property Appraiser for the state of Alabama, (251) 533-2424. Albert Cheney has over 35 years of real estate experience in the southern part of Alabama.

STATE OF MISSISSIPPI
Mississippi Real Estate Appraisals
Certified FHA Approved Appraisers For Home And Other Real Property Appraisals

Certified Appraiser Names (CAN) website is here to assist with your Mississippi real estate property appraiser needs.

Certified Appraiser Names (CAN) website gives you the ability in finding the highest quality Mississippi real estate appraisals by providing web-links to Active, Certified, and FHA Approved Appraisers.

The Mississippi real estate appraisal district is an area where Certified Appraiser Names (CAN) tries to provide qualified real estate appraisers who can handle all your appraisal requirements—Acreage and Lot (Land) Reports, Before & After home valuations (hurricane, storms), Commercial, Desktop and Field Reviews (residential properties), Employee Relocations (ERC reports), Estate Valuation Reports (Settling Estates with real property), Equity Line loans, Federal (IRS) and State tax situations, Foreclosure and HUD home appraisal reports, Home Modifications and Retentions, Home or Residential Mortgage refinancing, Matrimonial Real Property settlements (Divorces), New Home Construction (progress and final inspections), Primary and Secondary residential mortgages, Real Property Tax Assessment appeals, Removing Private Mortgage Insurance (PMI).

Go to http://www.CertifiedAppraiserNames.com/ and search for your city or town in Mississippi, click on an appraiser’s web-link of choice, and call them today for a FREE real estate appraisal quote!

Are you a Certified FHA Approved Real Estate Appraiser with an active website and wanting to swap web-links with Albert Cheney at http://www.CheneyAppraisalServices.com/? If you are, call Albert Cheney at (251) 533-2424 or email your interest to AlbertCheney@CheneyAppraisalServices.com. Also, it’s a FREE listing! Thank you!

The TimberCreek residential development is a great golf community located along 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 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 1,674 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 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%.

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.

Comments And Opinions By Al Cheney, Certified Residential Real Estate Appraiser & FHA Approved Appraiser, Mobile, Alabama.

The city of Mobile and the other communities within the Mobile Bay Metro Area (Baldwin County, Mobile County, Alabama) have the opportunity to capture many more economic projects if, as area businesses and residents, we continue to stand together “as one!”

We must all participate in the promotion of our area, whether it’s in a small way or a big way. You can contribute with only a smile to a weary traveler visiting our area (they might be moving here or relocating their business) or keeping the trash picked up around your home. Landscaping, mowing the lawn, or volunteering to assist with your educational talents are certainly other ways to place your positive mark upon our metropolitan bay area.

Also, even more small and large businesses should consider banding together, promoting our area through worthwhile local civic, economic and marketing projects. It is through these ongoing positive efforts and promotional projects which will continue to keep us progressive, in contention for even more economic opportunities and, certainly, noticed by outsiders looking in. These outsiders just might want to jump right in with us, so they can also experience the economic flurry of opportunities. Our local assets and opportunities to compete surround each of us every day. So open your eyes widely, see the possibilities and potential, and the next time you look into a mirror, realize that you are looking at one of our greatest assets!

It could be raining economic projects’ money in the Mobile Bay Metro Area, so here are some recent newsworthy articles (links below) for your reading. “Let these articles stoke your embers of creativity and professionalism, and turn them into your flames of positive ideas and possibilities!” – AMC

Please send me your comments, opinions and suggestions.

http://blog.al.com/live/2009/10/forbes_columnist_gives_mobile.html

http://www.nytimes.com/2009/10/28/realestate/commercial/28alabama.html?_r=2&ref=business

http://www.baldwincountynow.com/articles/2009/10/29/local_news/doc4ae87e66ae3dc680435966.txt

http://www.wkrg.com/alabama/article/auto-plant-in-bay-minette/379896/Sep-24-2009_1-48-pm/

http://www.wkrg.com/alabama/article/big-economic-honor-for-mobile1/100846/Jun-12-2009_8-50-pm/

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Al Cheney is a native of southern Alabama and a graduate from the College of Business and Management Studies, University of South Alabama. Al Cheney has maintained an active real estate broker’s license for thirty-six years and president of his company, Realty Leaders Corporation. Of course, most people know Al Cheney as a Certified Residential Real Property Appraiser and FHA Approved Appraiser, Cheney Appraisal Services, with 35+- years experience. Al Cheney also has past experiences and professional involvement with advertising, graphics, photography, marketing and writing.

Tags: Baldwin County, Cheney, Contention, Creativity, Economic Opportunities, Economic Projects, Educational Talents, Embers, Fha, Flames, Marketing Projects, Metro Area, Mobile Alabama, Mobile Bay, Mobile County Alabama, Newsworthy Articles, Outsiders, Possibilities, Professionalism, Property Appraiser, Weary Traveler