Posts Tagged ‘real estate appraisal values’
“Sandy Oaks” is an older subdivision, about 14+ years, located along the east side of Celeste Road, just south of Radcliff Road, several miles west of U. S. Interstate Highway 65 and about 20-25 minutes northwest of Mobile, Alabama.
The majority of homes, about 70%, were built between 1997 and 2000. Around 25% of the homes were built between 2001 and 2006.
“Sandy Oaks” primarily has homes ranging from 1,800+- square feet to 3,187+- square feet as reported in the online tax records. Most homes, about 72%, will have gross living areas between 1,800 and 2,500 square feet with 3 bedrooms and 2 full bathrooms. Homes with over 2,500 square feet represent around 23% within “Sandy Oaks” and considered over-built for its neighborhood.
As for Saraland’s home values, it appears that median sale prices for homes (sampling size is around 46+ sales) having 1,650 to 2,250 square feet dropped 17% over a 12-month time period.
Home listings are increasing. Twelve months ago, calculations indicate around 17 active listings compared to around 43 active listings today–two and a half times higher! Having this significant increase in active home listings has increased the housing supply time period from 4.4 months to 12.9 months. This time period represents the absorption rate or, how long it will take a homeowner to sell their home if reasonably priced to sell. It now takes three (3) times longer to sell your home based on the available online MLS (multiple listing service) information!
Sales for 1,650 to 2,250 square feet homes has dropped around 43.5% based on inventory analysis calculations. The information indicated 23 closed home sales twelve (12) months ago compared to 10 home sales in the past three (3) months.
For homeowners in the Saraland, Alabama, the bottom line is, hold tight if you can for a few years and the home market should stabilize and maybe increase some but, don’t expect it to be like it was in the past. If you have to sell, consult a Certified Residential Appraiser first so you will have better insight into the property values surrounding your home. Pricing your home correctly will save you so much time. Remember, you are now competing with many other homeowners who are very motivated as well as appealing “short sale” and “foreclosure” offerings.
Al Cheney is a “Certified Residential Real Property Appraiser” who has over 35 years real estate experience within the Mobile Bay Metro Area, Baldwin County and Mobile County of Alabama. You can write Al Cheney at Albert@CheneyAppraisalServices.com or visit http://www.AlabamaRealEstateAppraisals.com/, http://www.CheneyAppraisalServices.com/ or http://www.CertifiedAppraiserNames.com/.
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.
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
STATE OF MISSISSIPPI
Mississippi Real Estate Appraisals
Certified FHA Approved Appraisers For Home And Other Real Property Appraisals
Certified Appraiser Names (CAN) website is here to assist with your Mississippi real estate property appraiser needs.
Certified Appraiser Names (CAN) website gives you the ability in finding the highest quality Mississippi real estate appraisals by providing web-links to Active, Certified, and FHA Approved Appraisers.
The Mississippi real estate appraisal district is an area where Certified Appraiser Names (CAN) tries to provide qualified real estate appraisers who can handle all your appraisal requirements—Acreage and Lot (Land) Reports, Before & After home valuations (hurricane, storms), Commercial, Desktop and Field Reviews (residential properties), Employee Relocations (ERC reports), Estate Valuation Reports (Settling Estates with real property), Equity Line loans, Federal (IRS) and State tax situations, Foreclosure and HUD home appraisal reports, Home Modifications and Retentions, Home or Residential Mortgage refinancing, Matrimonial Real Property settlements (Divorces), New Home Construction (progress and final inspections), Primary and Secondary residential mortgages, Real Property Tax Assessment appeals, Removing Private Mortgage Insurance (PMI).
Go to http://www.CertifiedAppraiserNames.com/ and search for your city or town in Mississippi, click on an appraiser’s web-link of choice, and call them today for a FREE real estate appraisal quote!
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 Albert Cheney at (251) 533-2424 or email your interest to AlbertCheney@CheneyAppraisalServices.com. Also, it’s a FREE listing! Thank you!
The Daphne, Alabama Lake Forest development is the largest residential community in the State of Alabama. Lake Forest has around 3,400 property owners with approximately $38 dues per lot. This PUD development has a clubhouse, golf courses, horseback riding stables, swimming pools, tennis courts and a yacht club on Mobile Bay. Lake Forest is located on the south side of U. S. Interstate Highway 10, east side of U. S. Highway 98, and located near major regional shopping centers.
Lake Forest is conveniently located near Historic Downtown Mobile, Alabama by traveling about 15 minutes west across the I-10 Bay-Way. Gulf Shores, Orange Beach and Alabama’s white sandy beaches and blue-green waters of the Gulf of Mexico are located only about a 35-minute drive south southeast.
Currently, Lake Forest has at least thirty-eight (38) active MLS (Multiple Listing Service) REALTOR listings. Most of the listed homes have 1,300 to 3,000+ square feet (varies from unit to unit) and the asking prices will primarily range from $125,000 to $255,000.
There have been around forty-eight (48) MLS home sales in the past twelve months according to the Baldwin County Association of REALTORS. The vast majority of these Lake Forest home sales ranged from $75,000 and $210,000.
The Sales Per Month Absorption Rate is currently 4.33 homes per month in Lake Forest. With 38 active listings, the current housing supply is 8.78 months (38 active listings divided by 4.33 home sales per month).
Lake Forest ‘s Median Comparable Sale Price is now $108,000 compared to $120,000 four to six months ago. The days on market (dom) appears to mostly range from 96 days to 147 days over the past 12 months.
Lake Forest ‘s Median Sale Price as percentage of list price has slipped slightly over the past twelve (12) months: 96.445%, 7-12 months ago; 96.077%, 4-6 months ago; past 3 months, 94.943%.
For more information about Lake Forest, go to this weblink, http://www.lakeforestpoa.com/.
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.