Al Cheney’s Comments and Opinions for 29 August 2010.

As a local, born and raised in the Mobile Bay Metro Area, I am sincerely happy that the bubbling crude has finally been capped after 90 days-after 90 days! It is worth repeating since this horrific ecological and environmental disaster should have never lasted this long if it wasn’t for the many faux pas by BP Oil and our own government. They say, the majority of the surface oil has dissipated and now can’t be found. Oh, really? The “on the surface” crude problem is only hiding in the depths of the sea-harming crustaceans, oysters and other seafood for years to come.

And, yes! I do realize that biological organisms will thrive on the raw crude and eventually remove it as a major threat but, this will take a very long time. The damage has already been done and its true damage is still hidden in the depths of the sea. Enormous amounts of crude, damaging dispersants, oil soaked wetlands and sea bottoms are here to stay for decades. A possible ecological disaster lurks beneath the sea and within the wetlands for years to come.

Furthermore, the inappropriate government overreach in shutting down oil rigs (overdramatic and very political), media sensationalism damaging our Gulf Coast tourism, and an already weaken real estate industry has created more negative affects upon Alabama and the other States along the Gulf Coast. Honestly, at this time, the affects of any significant real estate and tourism recoveries are unknown.

The fact is that, a fragile economy and a weakened real estate industry have been further exacerbated by the crude ecological and environmental disaster, and the crude politics of Washington. And, our tourism for this year has been damaged by irresponsible journalism by the media. Even so, the coastline of the Gulf States and its real estate will overcome this adversity and will eventually be less affected by the BP oil spill and the many missteps of Washington. The media needs to practice more responsible journalism and avoid the traps of sensationalism. Sensationalism is not journalism!

Well, our coastal properties along the beaches as well as other properties with gulf views and close to water tributaries will eventually improve over time. For now, the recent past spreading of crude through the Gulf of Mexico has resulted in a deeper real estate market slowdown affecting property values near and along the Gulf Coast. Whether legitimate, or not, many homes located well off water tributaries have also been affected to some degree. It is a real estate market slowdown caused by a fragile economy and the worse oil spill known in North America.

From my standpoint, the negative value affects for homes located off the beaches and the Gulf of Mexico should be negligible as time leads us into the future. When looking back in time, I believe, this catastrophe will reflect “a blip on the radar screen” when focusing only on the 90-day oil spill disaster. Then, there could be the possibility of a more normal level and slight positive return of property values; if a more normal level can be equated with a fragile economy under severe stress.

The fragile economy with high unemployment (9.5% but does not include the people who have given up) and uncertainty will be much more of a future problem for Gulf Coast property values than the BP oil spill. As time leads us into the end of 2010 and into the beginning of 2011, an even more fragile economy and real estate industry might be the result when continuing to implement recessive programs and tactics by the government while banks, entrepreneurs and small businesses mostly sit on the sidelines, “digging in their heels” or “going out of business” sales. Only deregulation and lowering taxes, the cessation of large government spending, small business incentives (get the oil riggers, shrimpers and other parts of the Gulf Coast seafood industry back to work) as well as “just plain honest positive talk” from the current Administration and our government representatives (most of them forget that they work for us) will improve the real estate industry– part of the backbone of America!

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.

On the 20th April, 2010, the Deepwater Horizon offshore drilling rig, operating off the coast of Louisiana, had a massive oil spill in the Gulf of Mexico. This oil spill resulted in a blowout leading to an explosion. At this point in time, Gulf Coast residents were not fully aware of its severity but very concerned about their future.

Now, we’re twenty-eight (28) days and counting down to a potentially life changing event for Alabamians. We are all wondering about our beautiful Alabama beaches, our coastal waters, our wildlife and our livelihood. How severe will this oil spill affect our lives in Alabama? Are we counting down to an impending threat to the Alabama coastline? Will it be a disaster negatively affecting the Alabama coastline for decades to come? How will Alabama coastal properties be affected by this catastrophe? Will the marketability of coastal Alabama real estate be affected and labeled with the stigma as “oil spill property,” whether true or false? Will your property be worth more or less after the oil spill reaches the shores of Alabama? I think you already know the answer for many of these questions.

If your coastal real estate becomes affected from this oil spill, contact a qualified attorney for advice and remember Cheney Appraisal Services, Albert M. Cheney, (251) 533-2424, as your Certified Residential Appraiser.

The midtown area of Mobile, Alabama now has over 300 active listings as of this writing. Asking prices are from $29,900 to $1,500,000 depending on amenities, location and square footage.

Albert Cheney is ready to assist you with all of your real estate questions about the midtown area as well as other historic Mobile information.

Below is a listing of some of the neighborhoods within Midtown Mobile. Please call Al Cheney at (251) 533-2424 for additional information. Al Cheney has over 35 years appraisal, real estate and related experiences!

• Ashland Place Historic District
• Battery Heights
• Bridlewood Estates
• Brookwood
• Church Street East Historic District
• Cromwell Place
• Dauphin Acres
• Dauphin Place
• Delwood
• Demouy Place
• DeTonti Square Historic District
• DuBroca Tract
• Ellinor Place
• Flo-Claire
• Floral Gardens
• Glendale Park
• Homer Place
• Hunter
• Indian Creek
• Leinkauf Historic District
• Lower Dauphin Street Historic District
• Lynnwood
• Meadowbrook
• Mechem & Bixler
• Midtown Historic District
• Mount Island Place
• Oakleigh Garden Historic District
• Old Dauphin Historic Way
• Rosswood
• Silverwood
• Stoneridge Condominiums
• Touart Tract
• Western Annex
• West End
• Westlawn
• Windsor Warwick Condominiums

The neighborhood name Spring Hill was originally an early 19th century Spanish land grant settlement. Spring Hill is one of Mobile, Alabama’s oldest neighborhoods. Over 150 years ago, Spring Hill gained its prominence when Mobilians built summer homes to seek refuge from the semi-tropical heat of the city and the Yellow Fever epidemic carried by mosquitoes.

Spring Hill has a sense of community with good neighbors and wonderful neighborhoods with antebellum and majestic oaks covering many of the streets, such as, The Cedars, Dilston Lane, Tuthill Lane and Wimbledon Drive. Spring Hill is also an active area with many individuals and groups of friends cycling, jogging, walking and expressing their patronage for the local businesses along McGregor Avenue and Old Shell Road as well as other adjoining streets.

The Country Club of Mobile is located in Spring Hill and provides its members with fine Southern dining, swimming pool, tennis courts, 18-hole golf course and a short 9-hole course. In nearby Langan Municipal Park, Mobilians and its visitors can enjoy the various lake views, walking paths and the wonderful lakefront Mobile Museum of Arts which maintains a fine permanent collection as well as hosting prestigious temporary exhibitions throughout each year. And, just minutes west from the museum, you can enjoy the Azalea City Golf Course ($16 to $39 depending on time of day, cart or walking), the Botanical Gardens and the Mobile Tennis Center, one of the largest of its kind in the United States. Since 1930, Spring Hill College, the oldest school of higher learning in Alabama, has been serving the Mobile Bay Metro Area with a beautiful 18-hole golf course (available without membership) from $32 to $39 each, depending on mornings and afternoons, includes a cart, or Mondays and Wednesdays which also includes a lunch.

Spring Hill’s retail area includes an active branch of the public library, dentists, doctors, grocery stores, pharmacies, restaurants, women’s & children’s clothing stores, and other professional services. Mary B. Austin, one of Mobile’s oldest public elementary schools, is located along Provident Lane, north side of Old Shell Road. St. Paul’s Episcopal and St. Ignatius schools located nearby provide parochial private education.

Springhill Memorial Hospital, physician’s offices and a fitness center are located along the south side of Dauphin Street, near Interstate U. S. Highway 65, and across from many restaurant facilities and retail shops, such as, Alabama Outdoors, Ann Taylor Loft, Atlanta Bread Company, Ballins, Claude Moore, Coldwater Creek, J. Jill, Jimmy Johns, Jos. A. Bank, Legacy Village at Spring Hill, Metzger’s, Talbots, The Wine Loft, Tropical Smoothie Café, True Restaurant and Zoe’s Kitchen.

In a tough economic climate, the property values within Spring Hill have done better than most other areas in the city of Mobile due to its desirability. With this stated, individuals and families can find many choices for housing, from a small condominium to a spacious home on a large lot. Currently, there are approximately 231 active listings from $44,850 to $3,300,000 asking prices. Recent housing sales, about 70 sold records, for the past six months ranges from $37,500 for a one bedroom, one bath condo to $950,000 for an over 6,000 square foot home with 4 bedrooms and four bathrooms near the Country Club of Mobile. Therefore, Spring Hill has housing price offerings to fit any budget!

For more information about Spring Hill or any other neighborhood in the city of Mobile, contact Albert Marshall Cheney, Certified FHA Approved Real Estate Appraiser, by calling (251) 533-2424 or visit the web site, http://CheneyAppraisalServices.com/. Al Cheney covers all of Baldwin County and Mobile County in The Mobile Bay Metro Area of Alabama.

“When Mobile’s Saenger Theatre opened on January 19, 1927, it was the sixty-first Saenger theatre of a chain founded by J.H. and A.D. Saenger of New Orleans. There were Saenger Theatres located throughout the South as well as in Cuba and Puerto Rico. Hailed as, “Alabama’s Greatest Showplace” and, “the most beautiful playhouse in all of Dixie,” the Mobile Saenger Theatre took a year to construct at a cost of about 500,000 dollars. Designed by renowned architect, Emile Weil …”

“The Saenger Theatre of Mobile now functions as a performing arts center and is the official home of the Mobile Symphony Orchestra. The Saenger features an annual Summer Movie Series and presents numerous concerts, lectures and special events. The Saenger Theatre is a historic landmark, dear to the hearts of Mobilians for its architectural grandeur and ties to our cultural history as well as for the extraordinary caliber of entertainment it offers our community today.”

Read the entire history of the Saenger Theatre as well as its scheduled events and box office information by clicking this web-link, http://www.mobilesaenger.com/info.php.

Contact Information
Box Office Entrance
6 South Joachim Street
Mobile, Alabama 36602

Administrative Offices: 251-208-5600
Rental Info: 251-208-5608
FAX: 251-208-5607
Box Office: 251-208-5600
Email: saengertheatre@cityofmobile.org

Administrative Office Entrance
250 Conti Street
Mobile, Alabama 36602

Theatre Staff & Management
Nichole T. Loper, Operations Manager
Patty Thompson, House Manager
Mitch Teeple, Production Manager
Chris Penton, Settlement Agent
Kelly Somers, Box Office Clerk
Lorenzo Franklin, Custodian

VOLUNTEERING: The event support committee consists of community volunteers from all walks of life whose dedicated service is invaluable to the Theatre’s operation.

If you would like to join our event support committee, please call Patty Thompson at 251-208-5608. If you would like to become a CLA member, please call Jani Young at 251-208-5652.

(Photograph by Al Cheney, 7th February 2010, FHA Approved Residential Appraiser with Cheney Appraisal Services, 251-533-2424.)

Chad Hayes, Hayes Appraisal Group, is a leading provider of residential real estate appraisals within Cheatham County, Davidson County, Maury County, Montgomery County, Robertson County, Rutherford County, Sumner County, Williamson County and Wilson County of Tennessee. Chad Hayes, Certified FHA Appraiser, completes appraisal reports for:

• Conventional Loan Purposes
• FHA & HUD Purposes
• Primary and Secondary Mortgages
• Employee Relocations
• Home Modification Or Retention Issues
• Mortgage Refinancing Purposes
• Private Mortgage Insurance (PMI) Removal
• Settling Estates With Real Property
• Divorce Settlements
• Other Legal Issues, such as, Bankruptcies

Chad Hayes, Hayes Appraisal Group, has invested in many hours of training and technological advancements which helps us to serve our clients better and reduce their workload. By offering online appraisal ordering, coupled with automatic report status updates and electronic delivery of the final product, we are able to eliminate the run around and phone tag hassles associated with this process. And since this process saves us money as well, we can keep our rates competitive with anybody else in the appraisal industry. Chad Hayes strives to give all clients:

• Short Turn-Around Times
• Highest-Quality Appraisal Reports
• Online Status Reports
• Electronic Ordering and Delivery
• Competitive Appraisal Fee Pricing

Call, email and or write Chad Hayes for further information about his appraisal expertise and the real estate market within Tennessee:

Hayes Appraisal Group, Inc.
Post Office Box 8178
Hermitage, TN 37076
Phone: (615) 773-7804
Toll Free Phone: 1-877-224-9619
Fax: (615) 773-7805
E-mail: hayes_appraisals@tds.net

Over the past several years in Saraland, Celeste Road has been a popular area for home builders due to the availability of beautiful wooded land with interesting terrain (topography). Charleston Ridge is one of these newer residential subdivisions located along the northeastern side of Celeste Road, about 3.2 miles from U. S. Interstate Highway 65.

Charleston Ridge was developed with 38 residential building lots about 2 years ago. At the time of this writing, Gooden Homes, Inc. has built five Craftsman style homes. Residential lot values will generally run, in the opinion of Certified Appraiser, Albert Cheney, between $55,000 and $65,000 depending on its location within the development. There are about 60% of the lots available to purchase and build your dream home.

The most recent sale prices within Charleston Ridge range from $279,900 to $290,400 with most of the gross living areas around 2,800 square feet (minimum requirements) to 3,027 square feet. There is a two car attached garage requirement for the subdivision and an architectural review of all plans & specs. before building your home.

Call Albert Cheney, Certified FHA Approved Residential Appraiser, Cheney Appraisal Services, (251) 533-2424, for more information about real estate appraising in Baldwin County and Mobile County of Albama. Click these web-links for even more information about Albert Cheney and the Mobile Bay Metro Area: http://www.MobileAlabamaFHARealEstateAppraisers.com/ or http://www.RealtyLeaders.biz/. Albert is ready to answer your questions!

Charleston Oaks subdivision is located in West Mobile, along the east side of Sollie Road (city limits boundary) and just south of Cottage Hill Road.

The Charleston Oaks neighborhood is a popular city residential area with most home sizes ranging from 4,100+ square feet to 7,600+ square feet.

There have been around five home sales since the beginning of 2007 according to online multiple listing records. The sale prices ranged from $420,000 to $1,300,000.

Currently, as of this writing, the multiple listing service indicates five active listings: $449,900; $489,569; $546,000; $679,000; $799,999.

If you are interested in more detailed information about Charleston Oaks or any other neighborhood in the Mobile Bay Metro Area, call Al Cheney at (251) 533-2424. Click here, http://www.MobileAlabamaFHARealEstateAppraisers.com/, for other information.