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 164. See more city of Daphne real estate.
(all data current as of 5/21/2012)

1. $189,000 : 27522 Bay Branch Dr, Daphne
   
   4 beds, 3 full baths

   Home size: 3,000 sq ft

   Year built: 2003

   Days on market: 2

   Walk Score®: 3
2. $186,350 : 27252 Bay Branch Dr, Daphne
   
   4 beds, 2 full baths

   Home size: 2,320 sq ft

   Year built: 2011

   Days on market: 3

   Walk Score®: 11
3. $189,900 : 11085 Bulb Dr, Daphne
   
   3 beds, 2 full, 1 part baths

   Home size: 2,098 sq ft

   Year built: 2010

   Days on market: 4

   Walk Score®: 0
4. $159,900 : 114 Montclair Loop, Daphne
   
   3 beds, 2 full, 1 part baths

   Home size: 1,748 sq ft

   Lot size: 8,712 sqft

   Year built: 2005

   Days on market: 4

   Walk Score®: 8
5. $353,500 : 9507 Kasey Ct, Daphne
   
   4 beds, 3 full baths

   Home size: 3,281 sq ft

   Lot size: 8,712 sqft

   Year built: 2012

   Days on market: 9

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

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.

School is back in session at the University of South Alabama and homes near campus are desirable!  16 homes sold in July 2009 in the Springhill / USA  area of Mobile.    The average sales price of $314,591 equated to $118.21 per square foot.  These homes spent an average of 98 days on the market prior to selling. There are currently 177 homes actively listed in Springhill/ USA, and their average prices is $432,847 or $135.99 per square foot.

In Cottage Hill, there is a large inventory of available homes, with 371 on the market.  37 sold in July for an average sales price of $159,819.  This works out to $81.69 per square foot of living area and they spent an average of 87 days on the market. There are currently 62 sales pending in Cottage Hill, with the average sold price of $157,409.

The Downtown / Midtown area of Mobile has a big inventory of 475 homes on the market, with an average asking price of $181,878 or $96.99 per square foot of living area. This is significantly higher than the price of homes which actually sold. In July, 28 sold in Downtown / Midtown for an average of $121,616 or $74.50 per square foot. 

West Mobile/ Semmes continues to be the most active area for Mobile’s real estate market. In July, 61 homes sold in this area for an average sales price of $182,996 and $90.32 per square foot. These homes sold after 92 days on the market.  There are 110 contracts pending in West Mobile / Semmes for an average sales price of $160,829 or $89.39 per square foot. Barbara Reeves, REALTOR, is an expert in these communities and is able to assist you in taking advantage of this market to find your dream home. Visit her at http://www.barbarasellsdaphne.com.

image credit: sxc.hu

With the launch of a new real estate website, Alabama realtors are urging potential homebuyers to make the move to buy this year.  The Mobile Area Association of Realtors has provided homebuyers a new tool via the ThingsAreReallyMovingHere.com website this week.  This site is meant to educate about the “good values and low interest rates” in the current Alabama real estate market.  Mayor Sam Jones reported that the housing market in Mobile AL is doing better than other cities of similar size in the Southeast region, with sales moving up.  With this positive outlook and great tools to help the homebuyer decide, now is the time to buy Mobile AL real estate.

For more information on real estate in Mobile or West Mobile AL contact your local realtor Barbara Reeves today.

The Atlanta-based Ryla Inc. has selected a site for their new regional headquarters in Saraland, according to a recent article at wkrg.com.  Ryla Inc. is a corporate data center and regional call center and this move will add more than 1,200 new jobs to the area.  The company expects to hire about 400 employees by early summer.  A growing business, Ryla Inc. had outgrown their Georgia location and is happy to bring in over a thousand jobs to the Mobile AL area.

For more information on buying or selling real estate in the Mobile or West Mobile AL area contact local agent Barbara Reeves today.

NASA announced last week that Mobile’s American Tank and Vessel Inc (AT&V) will be under contract to build and install a key component to test a new generation of rocket engines for NASA.   AT&V employs about 190 workers in the locations that will be working on a test cell diffuser, which is “a device that sits below the rocket engine as it’s being tested and diffuses the exhaust,” as reported by the Press-Register online.  This $45 million contract is the first time that AT&V will be working with NASA, and more details about whether more employees will be needed and when the project is slated to begin will be given this week in an official news release.

For information on real estate in Mobile or West Mobile, contact local agent Barbara Reeves via email or by clicking on the “Talk Now” button on this page.

The area encompassing West Mobile and Semmes saw the most activity within Mobile and Baldwin Counties in January 2009. With 30 homes sold and 79 contracts pending, this area is relatively fast-paced compared with surrounding communities. Sold prices averaged $204,331 or $94.01/ square foot and spent 106 days on the market. There were 475 homes on the market with an average list price of $233,039 or $96.47/ square foot. Barbara S. Reeves knows this area very well and can show you many lovely homes or you can view them on your own at www.barbarareevesrealtor.com.

This past Monday, U.S. Rep. John Murtha, D-Pa, repeated his suggestion for the U.S. Air Force to split their aerial refueling tanker contract between Boeing and Northrop Grumman Corp, after a tour of Boeing’s production center in Everett, Washington.  Murtha made a similar touring visit of Mobile Alabama-based Northrop Grumman Corp in late January and he is trying to convince the secretary of defense to at least take a look at two airplanes; Murtha is the chair of the House subcommittee that is overseeing U.S. defense spending, and he feels that a split would offer a faster way to get the tankers made and replace the current aging fleet.  If Northrop Grumman Corps Mobile AL location were to be awarded at least a share of the work, it would create a projected 1,500 direct jobs to the area.

For more on this issue, visit Al.com.

For more information on real estate in Mobile or West Mobile AL, contact local agent Barbara Reeves via email or by clicking on the “Talk Now” button on this page.

Housing sales in Mobile County was a real mixed bag in 2008, with some areas losing ground and a few pockets that did very well, in spite of the national housing decline.  The Municipal Park and W. Central areas of Mobile dropped 7% in price per square foot and 9% in average sales price from 2007 to 2008.  Midtown South and Midtown East lost 8% in dollars per square foot while average sales prices rose 7% .

Meanwhile, the community of Springhill gained 2% in dollars per square foot while the average sales price declined by 4.5%.  An area that was strong across the board was West Mobile homes over $150,000. These communities enjoyed an average price per square foot increase of 2% and an average sales price increase of 7%! This is amazing in this economy. Cottage HIll South did well, dropping about 1.5% in price per square foot while increasing in sales price by 1.2%.

Every neighborhood saw the time to sell slow down in 2008, with average days on the market increasing and averaging 85 days on the market in December. A plus for Mobile County is that property sells more quickly than it does in Baldwin County. Still, there is a great deal of inventory of wonderful homes across Mobile for the savvy consumer to choose from. If you’ve been waiting for the right combination of circumstances, this is the strongest Buyers’ Market you will find. Rates are low and the selection is high. See for yourself at BarbaraReevesRealtor.com.

Alabama Power Co. is currently looking into other options of generating electricity that could help lower energy costs in the long run.  As part of Alabama Power Co.’s general planning activities, they will be conducting a study which will explore such options as burning wood or other renewable fuels at one of their coal-fired plant locations.   The study is expected to be completed by the second half of this year and the company will be making their decision based on the findings at that time.  With the higher costs for coal and other fuels, a move to renewable resources will be a welcomed relief for Mobile, West Mobile and other Baldwin County AL residents.

For more information on Mobile, West Mobile, Fairhope, Daphne, or Spanish Fort AL real estate, contact your local agent Barbara Reeves via email or by clicking the “Talk Now” button on this page.