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 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.)

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.

Alabama Port 36523, Axis 36505, Bayou La Batre 36509, Belle Fountaine 36582, Bucks 36505, Calvert 36513, Celeste 36522, Chickasaw 36611, Chunchula 36521, Citronelle 36522, Coden 36523, Creola 36525, Dauphin Island 36528, Dawes 36619, Earlville 36522, Eight Mile 36613, Fairview 36587, Georgetown 36521, Grand Bay 36541, Gulfcrest 36521, Hollingers Island 36605, 36582, Indian Hills 36613, Irvington 36544, Kushla 36613, LeMoyne 36505, Lott 36575, Magazine 36610, Mauvilla 36613, Millertown 36613, Mobile 36608 (and all other zip codes), Moffett 36587, Mon Louis 36523, Mount Vernon 36560, Oak Grove 36613, Prichard 36610, Saint Elmo 36544, Salco 36505, Saraland 36571, Satsuma 36572, Semmes 36575, Theodore 36582, Tillman’s Corner 36619, Toulminville 36617, Turnerville 36521, Whistler 36612

Al Cheney with Cheney Appraisal Services, (251) 533-2424, can handle all of your Mobile County, Alabama real estate property appraiser needs. Cheney Appraisal Services supplies only the highest quality Mobile County, Alabama real estate appraisals. The Mobile County appraisal district is an area where we can satisfy all of your home appraisal needs. Our real estate property appraiser is “certified residential” and “fully licensed” in Alabama. 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. Al Cheney is also a ”FHA Approved” Appraiser.

Certified & FHA Home Appraisals start at $295 per report!

Albert Marshall Cheney, Cheney Appraisal Services, P. O. Box 8888, Mobile, Alabama 36689-0888, accepts residential real estate appraisal assignments within The Mobile Bay Metro Area and the Mobile County communities and towns listed above. Click on the available hyper-links for more information on these Mobile County, Alabama communities and towns. Also, here are most of the appraisal report services with fees provided by Al Cheney with 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 Mobile County and The Mobile Bay Metro Area of southwest Alabama.

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

Alabama 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 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.

The Alabama 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 Alabama, 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 Al Cheney at (251) 533-2424 or email your interest to AlbertCheney@CheneyAppraisalServices.com. Thank you!

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/.

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.

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.