I totally understand how apprehensive buyers are in making the decision to move forward with the purchase of your Mobile, Alabama Metro home, buying your first home or moving to a larger home. In 1968 (in the Olden Days as my children say) when my husband and I purchased our first home, the idea of signing papers committing to pay $110. monthly for 30 years totally freaked us out, we were getting by paying $65 a month for our little 2 bedroom 1 bath home.

The cost to build our new 3 bedroom 2 bath brick home cost us $13,995, financed for 30 years at 8% interest! The lender did not want to give us our loan because he did not feel we could pay nearly twice as much for housing as we were paying in rent, when I pointed out we had paid $125. a month in California the year before, on less income, we got the loan.

When we filed our income taxes, we were able to file a 1040 long form instead of a short 1040A, much to our delight the difference in our taxes was HALF of our house payments for the year! So our home really cost us less than the rent we were paying! Tax laws have changed and your numbers may not turn out with this much difference.

What this means to you, early this morning numbers were running through my head, so I just had to let all of you buyers on the fence know what I was thinking. Number one the low interest rates are HISTORICALLY LOW and all the experts say they will rise and when they do we will have no warning!

I want to tell you about a situation I had with a client buying a Mobile, Alabama home costing $200K, financed at 3.75% interest for 30 years fixed equals a principal and interest payment of $902.75. If the rates rise to 5% the principal and interest payment would be $1,046.43. If they rise to 7% the principal and interest payment will be $1,296.87. I know the first thing that comes into your mind, prices on homes may go down and I will be paying too much, however, if the house goes down to $190K and the interest rate is 7% your principal and interest would be $1,233.20.

A total of $330.55 more a month for a house $10K less! If you have doubts about buying a new home, now is the time to buy.

Showing properties 1 - 5 of 168. See more city of Daphne real estate.
(all data current as of 2/7/2012)

1. $150,000 : 111 Bel Air Cir, Daphne
   
   4 beds, 2 full, 1 part baths

   Home size: 2,565 sq ft

   Lot size: 8,496 sq ft

   Year built: 1990

   Parking spots: 2

   Days on market: 0
2. $389,900 : 217 North Cir, Daphne
   
   3 beds, 2 full, 1 part baths

   Home size: 3,250 sq ft

   Lot size: 11,130 sq ft

   Year built: 2005

   Days on market: 3

   Walk Score®: 31
3. $229,000 : 25139 Jernigan St, Daphne
   
   4 beds, 2 full baths

   Home size: 2,568 sq ft

   Lot size: 19,964 sq ft

   Year built: 2008

   Days on market: 3
4. $195,000 : 26264 Tullamore Dr, Daphne
   
   4 beds, 2 full baths

   Home size: 2,205 sq ft

   Lot size: 12,040 sq ft

   Year built: 2009

   Days on market: 4
5. $288,500 : 720 Oak Bluff Dr, Daphne
   
   3 beds, 2 full baths

   Home size: 2,328 sq ft

   Lot size: 3.47 ac

   Year built: 1989

   Days on market: 4

   Walk Score®: 29

Listing information deemed reliable but not guaranteed. Read full disclaimer.

We're sorry, but we couldn't find MLS # 220681 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 222982 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Finding your dream home is easy with the “Dream Home Finder” at mymobilerealestate.com. This great feature allows you to start your home search by filling out a simple online form of your specifications.  Indicate what city you’d like to live in, price range for the home, type and size of home, preferred number of bedrooms and bathrooms, desired school nearby, age of house, when you’d like to purchase and if you need to sell a present home.  Also fill out your name and contact number to ensure that you get personal attention concerning your inquiry as well as your mailing address to receive a personalized MLS list of homes.  It’s that easy!

Click here for the Dream Home Finder online form.

And keep Realtor Barbara Reeves in mind when buying or selling property in Gulf Coast AL.

After years of renting, you are finally looking to own your own home.  So what should you know about the pros of buying versus renting?  Here are just a few things to consider among the advantages of buying your first home:

• You are building equity, rather than throwing your money to a landlord.  When renting you don’t have the advantage of decreasing your mortgage balance and building equity like you would when buying your first home.
• Ownership is an important part of what makes a house a home. Renting property does not allow for the major changes you would like to make to personalize your home.  When you buy a home, you have the ability to make everything exactly as you want–so remodel and redecorate to your heart’s content.  And if you find that your needs change, your home can continue to be adapted inside and out for those changes.
• In many instances, mortgage payments are lower than rental payments per month. According to ginniemae.gov statistics, after 6 years the homeowner’s payment is lower than the renter’s monthly payment.  Also, when including the tax saving advantages of homeownership, the homeowner’s payment is less than the rental payment after 3 years.

So why not take that exciting step to homeownership in the beautiful Gulf Coast AL area and contact experienced and friendly local Realtor Barbara Reeves today.

Examining the nation’s real estate uncovers that people buying real estate are doing so because of the incredibly high affordability levels. While mortgage rates have been dipping and rising in recent weeks, housing prices have continued to drop, if ever so slightly in comparison to a year or two ago. The high inventories in most markets are keeping prices from rising and sellers are forced to swallow the fact that if they want to sell they have to do so for less than originally thought.

Low home values, low mortgage rates and high inventories have created an ideal time to buy real estate. These are the best affordability levels with respect to real estate that have been seen in years and those buying are the people who do not want to look back in a few years and think if only I had bought then.

The best investments are those that are timed right. Buying low and selling high is the motto, and those that can get it right are those that stand to make the most profit over time. In a nutshell, there couldn’t be a better time to be a real estate investor.

Click here to read a recent article from the Wall Street Journal that points out how affordability is what drove real estate sales in 2010.

Sourced from: Kinetic Content Library

West Mobile/ Semmes is one of the largest areas of listings in Mobile County, with 525 current home listings. In November, 35 homes sold for an average price of $146,160 or $84.22/ square foot. These homes sold after an average 76 days on the market, which is relatively quick compared to the rest of Mobile/ Baldwin.  There are 82 contracts pending for an average price of $169,233 or $81.62/ square foot.

West Mobile County has 296 homes available and they have averaged 127 days on the market. The average list price is $247,928 or $103.20/ square foot. 28 homes sold in November for $152,315 and the 40 pending contracts average $227,916 or $94.31/ square foot.  Overall, West Mobile has a wonderful inventory and homes are moving in three months or less.  Your local real estate expert can assist you through every step of the home buying process.

Whether real estate has hit bottom yet or not, there is no mistake that it is a buyer's market

The biggest question hovering around these days is, have we hit bottom?  Whether this question be a general question regarding the recession or the real estate market, we have to ask does it matter?  Whether we hit bottom a couple of months ago or are going to hit it a couple of months from now, we can all agree that we have had better times and better times are in our future.  Whether we have hit bottom or not there is no mistake that it is a buyer’s market when it comes to real estate. Rates have never been lower and inventory higher.

That being said, if we haven’t hit bottom then the bottom must be close.  Wouldn’t it be better to buy near the bottom than miss it entirely?  Across the Country there are markets that are on their way down, markets that have stabilized and markets that are on their way back up.  Whether the market hit bottom a couple of months ago, is at the bottom now, or will hit the bottom in a couple of months, the top of the market is far away.

It is a buyer’s market out there.  Whether you are looking for a primary residence or a second home it is a great time to invest in real estate.  Property values are lower than they have been in years, interest rates are still hovering at 30 year lows and some tax incentives make buying real estate today more affordable than it has been in years.  For all we know the Mobile, Al Metro real estate market might be more affordable today than it will be for many years to come. When (not if) the interest rates go up homes that are affordable now will be out of reach with a higher interest rate. Search the Mobile, Daphne, Spanish Fort, Alabama market to see what is in it for you.

Showing properties 1 - 15 of 118. See more city of Daphne real estate.
(all data current as of 2/7/2012)

1. $389,900 : 217 North Cir, Daphne
   
   3 beds, 2 full, 1 part baths

   Home size: 3,250 sq ft

   Lot size: 11,130 sq ft

   Year built: 2005

   Days on market: 3

   Walk Score®: 31
2. $229,000 : 25139 Jernigan St, Daphne
   
   4 beds, 2 full baths

   Home size: 2,568 sq ft

   Lot size: 19,964 sq ft

   Year built: 2008

   Days on market: 3
3. $288,500 : 720 Oak Bluff Dr, Daphne
   
   3 beds, 2 full baths

   Home size: 2,328 sq ft

   Lot size: 3.47 ac

   Year built: 1989

   Days on market: 4

   Walk Score®: 29
4. $675,000 : 6490 Haley's Ln, Daphne
   
   4 beds, 3 full, 1 part baths

   Home size: 2,958 sq ft

   Lot size: 2.49 ac

   Year built: 1965

   Days on market: 5

   Walk Score®: 49
5. $400,000 : 10270 Plantation Dr, Daphne
   
   6 beds, 4 full, 2 part baths

   Home size: 6,025 sq ft

   Lot size: 36,600 sq ft

   Year built: 1990

   Days on market: 5

   Walk Score®: 8
6. $244,900 : 10006 Cumbria Dr, Daphne
   
   3 beds, 3 full baths

   Home size: 2,477 sq ft

   Lot size: 8,250 sq ft

   Days on market: 7

   Walk Score®: 0
7. $310,000 : 9569 Bella Dr, Daphne
   
   3 beds, 2 full, 2 part baths

   Home size: 3,100 sq ft

   Lot size: 19,037 sq ft

   Year built: 2009

   Days on market: 10

   Walk Score®: 3
8. $410,000 : 7932 Pine Run, Daphne
   
   4 beds, 3 full, 1 part baths

   Home size: 3,262 sq ft

   Lot size: 22,040 sq ft

   Year built: 2004

   Days on market: 10

   Walk Score®: 14
9. $248,640 : 8821 Bainbridge Ct, Daphne
   
   4 beds, 3 full baths

   Home size: 2,368 sq ft

   Lot size: 12,000 sq ft

   Year built: 2011

   Days on market: 11

   Walk Score®: 18
10. $278,770 : 8796 Bainbridge Ct, Daphne
    
    3 beds, 2 full, 1 part baths

    Home size: 2,655 sq ft

    Lot size: 10,400 sq ft

    Year built: 2012

    Days on market: 11

    Walk Score®: 18
11. $243,200 : 8800 Bainbridge Ct, Daphne
    
    3 beds, 2 full, 1 part baths

    Home size: 2,317 sq ft

    Lot size: 16,250 sq ft

    Year built: 2012

    Days on market: 11

    Walk Score®: 18
12. $398,900 : 8374 Pine Run, Daphne
    
    4 beds, 4 full baths

    Home size: 2,977 sq ft

    Year built: 2004

    Days on market: 13

    Walk Score®: 12
13. $266,900 : 8803 Bainbridge Dr, Daphne
    
    4 beds, 3 full, 1 part baths

    Home size: 2,542 sq ft

    Lot size: 24,000 sq ft

    Year built: 2011

    Days on market: 14

    Walk Score®: 18
14. $249,900 : 10077 Landsdown Dr, Daphne
    
    5 beds, 3 full baths

    Home size: 2,537 sq ft

    Lot size: 10,800 sq ft

    Year built: 2007

    Days on market: 14

    Walk Score®: 5
15. $264,999 : 24853 Yawley Ave, Daphne
    
    4 beds, 3 full baths

    Home size: 2,540 sq ft

    Lot size: 15,000 sq ft

    Year built: 2011

    Days on market: 17

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Now could be the perfect time to invest in vacation real estate

There are many questions when it comes to investing in real estate today one of which is, is it a good time to invest in vacation real estate? Currently it is a buyer’s market almost anywhere in the Country, as well as many locations overseas. If you can acquire financing or have the extra cash to invest real estate has always been seen as a good investment because while it may take its dips, historically it has always rebounded. Many signs point to it being a great time to invest in vacation real estate. These signs include:

• Low interest rates

• A drop in home values

• Fewer buyers, therefore less competitive market place

• Lower property taxes due to drop in home values

• Higher inventory, therefore more homes to choose from

If you have been wanting to purchase or invest in a second home there hasn’t been a more attractive time to purchase vacation real estate in quite some time.

For more information on investing in vacation real estate visit the Realty Times web site.

There is no doubt that the first time home buyer tax credit is a great thing but there are a few things to know before you assume that you qualify for the full $8,000.  The tax credit breaks down as follows:
Who qualifies? First time home buyers and people (or spouses) who have not owned a home for the previous 3 years.  You must purchase your home between January 1, 2009 and December 1, 2009.

• What qualifies for the first time home buyer’s tax credit? Only a primary house qualifies.  It does not matter if it is a single family home, duplex, townhome, condo, apartment or co-op, if it is a primary residence it will apply.

• What is the amount of the first time home buyer’s tax credit? $8,000 is the maximum amount of the credit.  There are 2 factors at play when it comes to getting the credit: The cost of the home and the income of the person or married couple purchasing the home.  The credit can be 10% of the closing price up to $8,000 or a person making $75,000 or less or a married couple making $150,000 or less are eligible for the full $8,000.

• Do you qualify for the first time home buyer’s tax credit if your income is higher? Yes and no.  If you make more than the $75,000/$150,000 limit you get less of a credit.  The maximum income is $95,000 for singles or $170,000 for couples.  If you make more than the maximum income you are not eligible for the tax credit.

The tax credit is a real boon for first time home buyers and does not have to be repaid.  If you qualify for the tax credit and have been considering purchasing a new home there could not be a better time.  Low interest rates, low home values and the first time home buyer tax credit all add up to the right time to call an experienced local Realtor.

Resource and for more information: Realtor.org