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Baldwin County AL 2008 Real Estate Wrap-Up

Barbara Reeves — Mon, 02 Feb 2009 20:20:23 +0000

Baldwin County saw a total of 1109 home sales in 2008, compared with 1312 sales in 2007. This is a drop of 15.5% in the volume of sales transactions. Average price per square foot of living space dropped by nearly 14% during the year. The time spent on the market surprisingly dropped in the 4th quarter after spiking in the 3rd quarter of the year. However, the number of sales, the average price per square foot and average sales price all saw dramatic drops during the last 3 months of 2008.

It has been a bumpy ride, but with interest rates at historic lows and the inventory of homes so high, consider getting off the fence and taking advantage of conditions to make your homebuying decision. barbarareevesrealtor.com has all the listings in Baldwin County to help you find your perfect home at a very competitive price!

Quarter	Homes sold	Average $/SF	Average Price	Average Days on Market
Q1	236	$119.58	$228,003	120
Q2	319	$120.65	$243,997	126
Q3	333	$118.06	$253,984	137
Q4	221	$105.07	$220,093	108

First-Time Home Buyer Tax Credit

Barbara Reeves — Sun, 17 Aug 2008 14:41:11 +0000

First time home buyers purchasing any kind of home – new or resale- are eligible for the tax credit provided in The Housing and Economic Recovery Act of 2008. To qualify for the tax credit, a home purchase must occur on or after April 9, 2008 and before July 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs. The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase. Any home purchased by an eligible first-time home buyer will qualify for the credit, provided that the home will be used as a principal residence and the buyer has not owned a home in the previous three years. This includes single-family detached homes, as well as attached townhouses and condominiums.

An important consideration is that the tax credit must be repaid to the government, without interest, over 15 years or when the home is sold. Because the tax credit must be repaid, it operates like a zero-interest loan, saving home buyers over $8100 in interest payments, assuming $7,500 financed through a 30-year mortgage with a 7% interest rate.

To see some of the loveliest homes available in Mobile, AL and Baldwin counties, visit http://barbarareevesrealtor.com.

Information taken from http://www.federalhousingtaxcredit.com

Bay Minette’s Football Stadium to be Updated by Kick off

Barbara Reeves — Mon, 21 Jul 2008 13:49:11 +0000

A proposal to upgrade rest rooms and concession facilities at Simmons Field is quickly moving, according to Mayor Sonny Dobbins’ request. Bay Minette Alabama’s downtown football stadium that houses the Baldwin County High Tigers will be upgraded in the short time frame before the start of the 2008 season; the season is slated to begin on September 12 and Baldwin County Board of Education members were all in approval of the project’s time frame at last Thursday’s meeting.

The project is expected to cost between $100,000 to $150,000, but will be paid for by the city rather than the school system; Mayor Dobbins made this deal in order to also be allowed to use the field for youth and other community sports when a new stadium is built, which may be in the near future.