Posts Tagged ‘Gulf of Mexico’
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!
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 Sanibel Condominiums are located at 1524 West Beach Boulevard, Gulf Shores, Alabama 36542.
The directions are U. S. Highway 59 from Foley, Alabama, traveling south by car, entering Gulf Shores, Alabama, and ending at West Beach Boulevard. Then, take a right onto West Beach Boulevard (Highway 182) and travel west about 2+ miles. The Sanibel Condominiums complex is located on the right (near Little Lagoon).
The Sanibel Condominiums project, 17 stories, was built in 2007 according to available multiple listing service (mls) records. There are 108 units which have access to the general grounds, open & underneath parking spaces, exercise room, private balcony patios, barbeque grills, outdoor swimming pool, elevators, access to the white sandy Alabama beaches & the Gulf of Mexico, recreation areas, etc. are most of the primary common elements.
As of this writing, there are fifteen (15) active listings (2 bedrooms, 2 1/2 baths; 3 bedrooms, 3 baths; 4 bedrooms, 2 1/2 baths; 4 bedrooms, 3 1/2 baths) found within the Sanibel Condominiums. Most of these fifteen active condo listings have asking prices from $265,000 to $479,900 depending on interior amenities, gross living area and location within the project.
The multiple listing service (mls) indicates around eleven (11) condo sales ranging from $209,000 to $355,000 within the past year. Also, most of the monthly condo fees will range from $443 to $508. Even though the Sanibel Condominiums project is located across the road from the beaches, many of the condominium units have panoramic views of the Gulf of Mexico, southern views, and Little Lagoon, northern views.
Contact Al Cheney at (251) 533-2424 if you require more real estate related information about The Mobile Bay Metro Area, Baldwin County and Mobile County of Alabama.
Try these web-links for additional information: http://www.CertifiedAppraiserNames.com/, http://www.CheneyAppraisalServices.com/, http://www.MobileAlabamaFHARealEstateAppraisers.com/, http://www.RealtyLeaders.biz/.
Alabama Real Estate Appraisals
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Certified Appraiser Names (CAN) website is here to assist with your Alabama real estate property appraiser needs.
Certified Appraiser Names (CAN) website gives you the ability in finding the highest quality Alabama real estate appraisals by providing web-links to Active, Certified, and FHA Approved Appraisers.
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Are you a Certified FHA Approved Real Estate Appraiser with an active website and wanting to swap web-links with Albert Cheney at http://www.CheneyAppraisalServices.com/? If you are, call Al Cheney at (251) 533-2424 or email your interest to AlbertCheney@CheneyAppraisalServices.com. Thank you!
The TimberCreek residential development is a great golf community located along the south side of U. S. Highway 31, the west side of Alabama State Highway 181, on the north side of U. S. Interstate Highway 10 and just minutes east of the delta areas and Mobile Bay.
TimberCreek is conveniently located near major regional shopping centers, such as, the Malbis Regional Shopping Center, and Historic Downtown Mobile, Alabama is only about 20 minutes west by traveling along the I-10 BayWay. Gulf Shores, Orange Beach and Alabama’s white sandy beaches and blue-green waters of the Gulf of Mexico are about a 30-35 minute drive south by either Alabama State Highway 181 or U. S. Highway 59.
Currently, TimberCreek has at least twenty-six (26) active MLS (multiple listing service) REALTOR listings, about 18 homes with 2,500 to 4,200 square feet, and having asking prices between $300,000 and $500,000.
There have been around twenty-five (25) home sales in the past twelve months according to the Baldwin County Association of REALTORS. The vast majority of these TimberCreek homes ranged from $275,000 and $550,000. The lowest sale price was $214,900 for a three bedroom, two bathroom home with 1,674 square feet. The highest sale price was $849,000 for a four bedroom, four full bathroom, two half bath home with 6,240 square feet.
The Sales Per Month Absorption Rate is currently three (3) homes per month in TimberCreek. With 26 active listings, the current housing supply is 8.67 months (26 active listings divided by 3 home sales per month).
TimberCreek‘s Median Comparable Sale Price is now $365,000 compared to $472,000 four to six months ago. The days on market (dom) appears to mostly range from 134 days to 146 days over the past 12 months.
TimberCreek‘s Median Sale Price as percentage of list price has slipped over the past twelve (12) months, and now seems to be somewhat recovering: 96.76%, 7-12 months ago; 89.95%, 4-6 months ago; past 3 months, 92.68%.
Albert Cheney, Cheney Appraisal Services, covers 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. Call 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.