School is back in session at the University of South Alabama and homes near campus are desirable!  16 homes sold in July 2009 in the Springhill / USA  area of Mobile.    The average sales price of $314,591 equated to $118.21 per square foot.  These homes spent an average of 98 days on the market prior to selling. There are currently 177 homes actively listed in Springhill/ USA, and their average prices is $432,847 or $135.99 per square foot.

In Cottage Hill, there is a large inventory of available homes, with 371 on the market.  37 sold in July for an average sales price of $159,819.  This works out to $81.69 per square foot of living area and they spent an average of 87 days on the market. There are currently 62 sales pending in Cottage Hill, with the average sold price of $157,409.

The Downtown / Midtown area of Mobile has a big inventory of 475 homes on the market, with an average asking price of $181,878 or $96.99 per square foot of living area. This is significantly higher than the price of homes which actually sold. In July, 28 sold in Downtown / Midtown for an average of $121,616 or $74.50 per square foot. 

West Mobile/ Semmes continues to be the most active area for Mobile’s real estate market. In July, 61 homes sold in this area for an average sales price of $182,996 and $90.32 per square foot. These homes sold after 92 days on the market.  There are 110 contracts pending in West Mobile / Semmes for an average sales price of $160,829 or $89.39 per square foot. Barbara Reeves, REALTOR, is an expert in these communities and is able to assist you in taking advantage of this market to find your dream home. Visit her at http://www.barbarasellsdaphne.com.

This August construction is expected to start on a new hotel in downtown Mobile AL.  The project is estimated to cost $9 million and will include 81 rooms.  Though it is being developed by the same people that brought the newly opened Hampton Inn and Suites to Royal Street downtown, this project is more ambitious; this new four-story Candlewood Suites hotel seeks to accommodate those guests that wish to have an extended-stay in the area, especially business traveler.  Featured highlights of the hotel include a pool, courtyard and fire pit, and a kitchen in each room.

The presence of more hotels in the downtown Mobile AL area will allow more business into the area as larger conventions and other events will have their visitors accommodated in the nearby vicinity.

Whether you want to vacation or live year round in the beautiful Gulf Coast area of Alabama, contact your local realtor Barbara Reeves for more information on homes and condos available in your favorite areas.

image credit: sxc.hu business

This week, Forbes Magazine cited Mobile AL in the top 10 cities for recession recovery.  While many cities will be feeling the effects of the recession for a number of years, Mobile Alabama is bouncing back, with economists predicting growth this year.  The Forbes study’s rankings offer data concerning projected gross domestic product of metropolitan areas across the nation, unemployment figures, home prices, incomes and affordability.

Read more about the findings of this Forbes study at forbes.com.

Now is a great time to look into Mobile AL living and real estate.  For more information about Mobile or West Mobile AL real estate as well as Fairhope, Daphne, and Spanish Fort, AL contact your local realtor Barbara Reeves today.

The Atlanta-based Ryla Inc. has selected a site for their new regional headquarters in Saraland, according to a recent article at wkrg.com.  Ryla Inc. is a corporate data center and regional call center and this move will add more than 1,200 new jobs to the area.  The company expects to hire about 400 employees by early summer.  A growing business, Ryla Inc. had outgrown their Georgia location and is happy to bring in over a thousand jobs to the Mobile AL area.

For more information on buying or selling real estate in the Mobile or West Mobile AL area contact local agent Barbara Reeves today.

April was another challenging month nationwide for housing, and Mobile County had mixed reaction. In the Springhill/ USA area, April saw 8 homes sold for an average of $222,312 ($111.15/sq ft). There are currently 152 active listings averaging $484,080 ($140.97/ sq ft) .  One year ago, the average sales price in Springhill/ USA was $210,315 or $99/sq foot for 20 sales. So, volume is way down, but values are actually staying fairly strong!  And April’s sold homes were on the market in 2009 for 84 days on average, but one year ago they took 106 days to sell.

West Mobile continued to have good volume of sales, with 31 transactions in April, averaging $180,677 or $90.18/sq ft. These homes spent an average of 97 days on the market prior to selling. One year ago, 35 homes sold for an average of $190,923 or $94.77. So, prices in West Mobile have dropped very slightly compared with other areas. The 317 active listings average $256,358 and 112 days on the market. In this market, that is a relatively brisk pace!

The Downtown/ Midtown area of Mobile lost considerable housing value compared with April 2008.  The average of 32 homes sold in April 2009 actually decreased from $155,055 ($87.31/ sq ft) in 2008 to $105,788 and $70.14/ sq ft in 2009!  These homes took an average of 82 days to sell compared with 65 days in 2008 for Downtown and Midtown.

The best news here is clearly for buyers…time to get off the fence and take advantage of prime conditions for homebuying. You have large inventory, low prices and tax incentives! Contact Barbara S. Reeves, REALTOR, to assist you in finding your dream home in Mobile County!

The German Steel company ThyssenKrupp’s Calvert plant site will have a delay in the building of a portion of the river terminal.  The planned terminal will be on the Tombigbee River with berths for five barges, but two berths are being delayed.  As ThyssenKrupp has been going through ways to cut costs, the delay of spending on this $4.65 billion complex is part of that list.

The Calvert complex is the home of two separate operations including a stainless unit and a larger carbon steel one.  The carbon steel unit is planning to use three berths to unload slabs of raw steel shipped from Brazil; this raw steel is then shipped to barges at a terminal that is being built on Pinto Island which is across the Mobile River from downtown.  Although there will be delays in Calvert, officials noted that work will not be slowed and the Pinto Island construction will not be delayed.

For information on Mobile Alabama real estate including Mobile and West Mobile, contact your local agent Barbara Reeves via email or by clicking the “Talk Live” button on the top of this page.

February was a difficult month nationwide for housing, and Mobile County was not exempt. In the Springhill/ USA area, February saw 11 homes sold for an average of $175,695 ($112.22/sq ft). This is a 24% drop from January. Nineteen pending sales averaging $265,643 ($94.04/ sq ft) is a significant drop from January’s $300,738 average ($113.57/ sq ft).

The Downtown/ Midtown area of Mobile held its own in February, with the average sold home actually increasing from $99,497 ($61.24/ sq ft) in January to $126,449 or $72.59/ sq ft! Values of homes pending sale rose slightly from an average of $104,740 in January to $110,696 in February.

The best news here is clearly for buyers…time to get off the fence and take advantage of prime conditions for homebuying. You have large inventory, low prices and tax incentives! Contact Barbara S. Reeves, REALTOR, to assist you in finding your dream home in Mobile County!

The area encompassing West Mobile and Semmes saw the most activity within Mobile and Baldwin Counties in January 2009. With 30 homes sold and 79 contracts pending, this area is relatively fast-paced compared with surrounding communities. Sold prices averaged $204,331 or $94.01/ square foot and spent 106 days on the market. There were 475 homes on the market with an average list price of $233,039 or $96.47/ square foot. Barbara S. Reeves knows this area very well and can show you many lovely homes or you can view them on your own at www.barbarareevesrealtor.com.

Housing sales in Mobile County was a real mixed bag in 2008, with some areas losing ground and a few pockets that did very well, in spite of the national housing decline.  The Municipal Park and W. Central areas of Mobile dropped 7% in price per square foot and 9% in average sales price from 2007 to 2008.  Midtown South and Midtown East lost 8% in dollars per square foot while average sales prices rose 7% .

Meanwhile, the community of Springhill gained 2% in dollars per square foot while the average sales price declined by 4.5%.  An area that was strong across the board was West Mobile homes over $150,000. These communities enjoyed an average price per square foot increase of 2% and an average sales price increase of 7%! This is amazing in this economy. Cottage HIll South did well, dropping about 1.5% in price per square foot while increasing in sales price by 1.2%.

Every neighborhood saw the time to sell slow down in 2008, with average days on the market increasing and averaging 85 days on the market in December. A plus for Mobile County is that property sells more quickly than it does in Baldwin County. Still, there is a great deal of inventory of wonderful homes across Mobile for the savvy consumer to choose from. If you’ve been waiting for the right combination of circumstances, this is the strongest Buyers’ Market you will find. Rates are low and the selection is high. See for yourself at BarbaraReevesRealtor.com.

image credit: sxc.hu wish list

Mobile Alabama officials are looking into what additions the city could benefit from in the coming year.  Like a wish list, local government officials are making a list of improvements for the city to be discussed by the federal government in the proposed stimulus plan.  The list includes an environmentally friendly power plant, improvements to infrastructure (e.g. bridges and highways), and renovations to schools.  Total expenses for these plans are estimated at $1.16 billion.

The Press Register indicated that it is most likely that only the projects that are either underway, have begun construction already, or only need some funding to get underway, will be given funds.  The Alabama Power Co. wants to start converting coal powered plants into ones that burn biomass (e.g. wood chips and switchgrass), with the Barry Steam Plant in North Mobile County being considered currently for this conversion.

For more on what is on Mobile AL’s ‘wish list,’ visit the Press Register online.

For more information on available real estate in Mobile or West Mobile AL contact your neighborhood realtor Barbara Reeves via email or by clicking on the “Talk Now” button on the top of the page.