Baldwin County AL 2008 Real Estate Wrap-Up

February 2nd, 2009 breeves Posted in Baldwin County Real Estate, Bay Minette AL real estate, Daphne AL real estate, Fairhope AL real estate, Fairhope Alabama Real Estate, Financial Considerations, Financing Options, Gulf Coast Homes, Home Buyer and Seller Tips 1 Comment »

Baldwin County saw a total of 1109 home sales in 2008, compared with 1312 sales in 2007. This is a drop of 15.5% in the volume of sales transactions. Average price per square foot of living space dropped by nearly 14% during the year. The time spent on the market surprisingly dropped in the 4th quarter after spiking in the 3rd quarter of the year.  However, the number of sales, the average price per square foot and average sales price all saw dramatic drops during the last 3 months of 2008.

 

It has been a bumpy ride, but with interest rates at historic lows and the inventory of homes so high, consider getting off the fence and taking advantage of conditions to make your homebuying decision. barbarareevesrealtor.com has all the listings in Baldwin County to help you find your perfect home at a very competitive price!

 

Quarter

Homes sold

Average $/SF

Average Price

Average Days on Market

Q1

236

$119.58

$228,003

120

Q2

319

$120.65

$243,997

126

Q3

333

$118.06

$253,984

137

Q4

221

$105.07

$220,093

108

AddThis Social Bookmark Button

First-Time Home Buyer Tax Credit

August 17th, 2008 breeves Posted in Baldwin County Real Estate, Bay Minette AL real estate, Daphne AL real estate, Fairhope Alabama Real Estate, Financial Considerations, Gulf Coast Homes, Mobile Alabama real estate, Mobile real estate, Spanish Fort AL real estate Comments Off

First time home buyers purchasing any kind of home – new or resale- are eligible for the tax credit provided in The Housing and Economic Recovery Act of 2008. To qualify for the tax credit, a home purchase must occur on or after April 9, 2008 and before July 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs. The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase.  Any home purchased by an eligible first-time home buyer will qualify for the credit, provided that the home will be used as a principal residence and the buyer has not owned a home in the previous three years. This includes single-family detached homes, as well as attached townhouses and condominiums.
 
An important consideration is that the tax credit must be repaid to the government, without interest, over 15 years or when the home is sold. Because the tax credit must be repaid, it operates like a zero-interest loan, saving home buyers over $8100 in interest payments, assuming $7,500 financed through a 30-year mortgage with a 7% interest rate.
 
To see some of the loveliest homes available in Mobile, AL and Baldwin counties, visit http://barbarareevesrealtor.com.
 
 
AddThis Social Bookmark Button

Bay Minette’s Football Stadium to be Updated by Kick off

July 21st, 2008 mscuderi Posted in Bay Minette AL real estate Comments Off

 

A proposal to upgrade rest rooms and concession facilities at Simmons Field is quickly moving, according to Mayor Sonny Dobbins’ request. Bay Minette Alabama’s downtown football stadium that houses the Baldwin County High Tigers will be upgraded in the short time frame before the start of the 2008 season; the season is slated to begin on September 12 and Baldwin County Board of Education members were all in approval of the project’s time frame at last Thursday’s meeting.

The project is expected to cost between $100,000 to $150,000, but will be paid for by the city rather than the school system; Mayor Dobbins made this deal in order to also be allowed to use the field for youth and other community sports when a new stadium is built, which may be in the near future.

 

AddThis Social Bookmark Button