As of today, 3rd February 2010, the refinance rates are, as follows: (1) 30 yr Fixed Rate, Today, 5.19%, Last Week, 4.94%; (2) 15 yr Fixed Rate, Today, 4.4%, Last Week, 5.06%; (3) 5/1 ARM, Today, 4.53%, Last Week, 4.12%.

According to an article in Mortgage News Daily, “A rising trend of mortgage applications indicates an increase in home buying interest, a positive for the housing industry and economy as a whole. More home purchases can lead to more construction jobs and increased purchases of items to build a home. Furthermore, in a low mortgage rate environment, an increasing trend implies consumers are seeking out lower monthly payments which can result in increased disposable income and therefore more money to spend on discretionary items or to pay down other debt.”

The article further states, “Don’t wait for mortgage rates to decline! I stand by my statement that 4.75% could very well be the lowest mortgage rates offered in 2010…unless there is a fundamental shift in economic outlook. If you have been waiting to refinance or to buy, get out there and start the process before you miss the boat of sub 5% rates.”

Click this web-link, http://www.mortgagenewsdaily.com/consumer_rates/132989.aspx, to read the entire article by Victor Burek.

The Mobile Bay Metro Area, Baldwin County and Mobile County of Alabama, has ongoing (and potential future) economic projects which may have an advantage over other U. S. regions. Our real estate market should draw more positive attention in the near future.

Contact Al Cheney, Cheney Appraisal Services, Certified FHA Approved Real Estate Appraiser, Baldwin County, Mobile County, Alabama, (251) 533-2424, when requiring a residential appraisal report for refinancing, settling an estate with real property, or various other litigation reasons in Alabama. Email your orders and questions to Al at Albert@CheneyAppraisalServices.com/.

Cheney Appraisal Services, Albert Marshall Cheney, (251) 533-2424, assists Accountants (CPAs), the Appraisal Management Companies (AMCs), Attorneys, Clients, Lenders and Property Owners in finding active and approved Certified FHA Appraisers in the State of Arkansas.

LITTLE ROCK, ARKANSAS
www.RobertWBennettAppraiser.com
Robert W. Bennett, ARCR0334
Robert W. Bennett Appraiser
12719 Cantrell Road, Suite 200
Little Rock, Arkansas 72223

If you are looking for a “Certified” Residential Appraiser for Estate or Trust Appraisals, Fair Market Value Estimate, Insurable Value estimate, Taxable Value estimate, or just curious about the Present Value of your Home or Investment, then, contact Mr. Robert W. Bennett with 36 years experience.  Robert is a leading provider of real estate valuations for the greater Little Rock area and surrounding counties, and many other parts of the state of Arkansas.

Click the above weblink to call Robert, ask your questions and order your appraisal assignment today!

The 2009 fourth quarter, 1st October 2009 to 31st December 2009, indicates at least 838 sales within Mobile County, Alabama according to online REALTOR information records. The total sales can be broken down into four property type categories: (1) condominiums & townhouses, (2) manufactured homes, (3) new construction homes, and (4) single family older homes. Also, the last quarter of total sales compared to the third quarter of total sales indicate a drop of 146 sales, or -14.8%.

The approximate 31 condominiums & townhouses had an average list price of $107,838, 69 average days on market (dom) and a sale price to list price percentage of 91.03%.

The approximate 13 manufactured homes had an average list price of $41,923, 61 average days on market (dom) and a sale price to list price percentage of 86.24%.

The approximate 131 new construction homes had an average list price of $179,631, 70 average days on market (dom) and a sale price to list price percentage of 99.39%.

The approximate 659 single family older homes (18.44% drop when compared to the third quarter) had an average list price of $142,956, 86 average days on market (dom) and a sale price to list price percentage of 95.8%.

The average days on market (dom) for the fourth quarter was around 82 days and the average per square foot was $78.

The fourth quarter indicates more new construction in west Mobile, south of the Mobile Regional Airport, Semmes, southwest Mobile County, Theodore, and the Tillman’s Corner area when compared to other areas of Mobile County. Most of the single family residential or home sales occurred in the areas north and south of Cottage Hill Road, Municipal Park area & city west central, west Mobile, Semmes, Midtown area near downtown historic Mobile, and areas east of Wilmer, Alabama.

The average sold terms for the fourth quarter was CASH (21%), CONVENTIONAL (27.3%), FHA (42.4%), VA (6.4%) and OTHER-ASSUMPTION, AUCTION, VENDOR LIENS (2.9%).

The above information has been provided by Albert Marshall Cheney, Cheney Appraisal Services, located in 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. Contact 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.

ARE YOU LOOKING FOR “CERTIFIED” AND “FHA” APPRAISERS IN BALDWIN COUNTY AND MOBILE COUNTY, ALABAMA?

Cheney Appraisal Services can handle all of your Baldwin County and Mobile County, Alabama real estate property appraiser needs. Cheney Appraisal Services supplies only the highest quality Baldwin County and Mobile County, Alabama real estate appraisals. The Baldwin County and Mobile County appraisal districts are areas where we can satisfy all of your home appraisal needs. Our real estate property appraiser is fully licensed and certified residential. Al Cheney is a real estate appraiser fully qualified to handle your home appraisal, appraisal when settling an estate, tax appraisal and any other appraisal need, such as, vacant land and legal reasons.

Certified & FHA Home Appraisals starting at $295 per report!*

Albert Marshall Cheney, Cheney Appraisal Services, Mobile, AL, accepts residential assignments within The Mobile Bay Metro Area, Baldwin County and Mobile County of Alabama.

Here are many communities and towns (with most zip codes) serviced by Cheney Appraisal Services, Baldwin County, Mobile County, Alabama:

Alabama Port 36523, Axis 36505, Barnwell 36532, Bay Minette 36507, Bayou La Batre 36509, Belforest 36526, Belle Fountaine 36582, Bon Secour 36511, Bucks 36505, Calvert 36513, Celeste 36522, Chickasaw 36611, Chunchula 36521, Citronelle 36522, Coden 36523, Creola 36525, Crossroads 36507, Daphne 36526, Dauphin Island 36528, Dawes 36619, Earlville, Eight Mile 36613, Elberta 36530, Elsanor 36567, Fairhope 36532, Fairview, Foley 36535, Fort Morgan 36542, Georgetown 36521, Grand Bay, Gulfcrest 36521, Gulf Shores 36542, Hollingers Island 36605 36582, Indian Hills 36613, Irvington 36544, Josephine 36530, Kushla 36613, LeMoyne, Lillian 36549, Little River 36550, Lott, Loxley 36551, Malbis 36526, Magazine, Magnolia Springs 36555, Marlow, Mauvilla 36613, McIntosh (only) Washington County, Miflin, Millertown 36613, Mobile 36608 (and all other zip codes), Moffett 36587, Montrose 36559, Mount Vernon 36560, Mullet Point 36532, Oak Grove 36613, Ono Island 36561, Orange Beach 36561, Oyster Bay 36542, Perdido Beach, Perdido 36562, Pinegrove, Point Clear 36564, Prichard 36610, Rabun (Rabon) 36507, Robertsdale 36567, Saint Elmo 36544, Salco 36505, Saraland 36571, Satsuma 36572, Semmes 36575, Seminole 36574, Silverhill 36576, Spanish Cove 36549, Spanish Fort 36527, Stapleton 36578, Stockton 36579, Styx River, Summerdale 36580, Tensaw 36507, Theodore 36582, Tillman’s Corner 36619, Toulminville, Turnerville, Whistler 36612, Whitehouse Forks, Wilmer 36587, and Wolf Bay.

Cheney Appraisal Services will also accept appraisal assignments within the town of McIntosh, Washington County, Alabama only.

Here are most of the appraisal report services with fees provided by Cheney Appraisal Services:

• Condominium Appraisal Report $295 & $325
• Single Family Residential Appraisal Report, detailed information $295 & $325
• Limited 2055 “Interior” Appraisal Report $275 & $300
• Limited 2055 “Exterior” Appraisal Report $225 & $250
• Complex Or Waterfront Residential Appraisal Report $400-$500+
• *“Certified” FHA Single Family (Home) Residential Appraisals for Baldwin County, Alabama and Mobile County, Alabama *$295 & $325
• Desk Review Report $100
• Relocation (RELO) Appraisal Report $450
• Acreage Or Lot (Land) Appraisal Report $200 & $250
• Recertification of “Value Opinion” $75
• Field Review “Exterior” Appraisal Reports $200 & $250
• Construction Draw Or Final Inspections $75 & $100
• Duplex, Triplex Or Other Assignments More Distant Quote

The above list covers many appraisal report services provided by Cheney Appraisal Services within The Mobile Bay Metro Area of southwest Alabama.

If you do not see your appraisal report requirement listed above, contact Albert Cheney, 1-251-533-2424 or email, Albert@CheneyAppraisalServices.com, with your home or residential appraisal orders and or questions.  The business facsimile is 1-251-252-7737.

Manufactured home report assignments are NOT accepted by Cheney Appraisal Services. We apologize for any inconvenience resulting from our company policy.

As of 1st April 2009, the new Form 1004MC must be included within all lending related appraisal reports.  SAVINGS for the AMCs (Appraisal Management Companies), clients, lenders and homeowners:  The above FHA/CONV appraisal report fees include this new form!

*Further Explanation And Guidelines:  The FHA fees will be $295 for homes within reasonable distances, i.e., within the city of Mobile, and homes further out, i.e., rural areas, will be $325 and sometimes $350. 

Clients will be contacted within around 24 hours or less.  Report turn around times will mostly vary between 2 business days and 5 business days depending on complexity, distance, market research, etc.  A report turn time will start with the completion of the appraiser’s home inspection. 

The “special & lower” fee is paid in advance or during the home’s visual inspection (receipt given at this time) or, paid by the client/lender before release of  a report. 

Invoiced fees can be arranged with guaranteed payment within 30 days but add $75 to the above FHA & single family residential full report fees and Limited 2055 Exterior & Interior report fees.  (The additional invoiced fee of $75 per report applies only to these type of forms.)

*The new fees and guidelines are effective as of 13th JUN 2009.

Are you looking for appraisals for Bankruptcy, Estate & Probate, Divorce (Matrimonial Disputes), Tax Appeals, Litigation Support, Foreclosure, Environmentally Distressed Property, Feasibility Analysis for Zoning Issues, Eminent Domain/Condemnation, and FHA Mortgages?

Call Al Cheney today and look for upcoming pages with many Certified FHA Appraisers in the other major cities and towns of Alabama and in the States of Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, and Texas.