“How To Play the Real Estate Bounce-Back”
Excerpt from Business2.0, October 2007

...Cindy Duggar-Gaspelin advises investors to buy houses north of Mobile in Calvert, which is two miles from the new steel plant, and the exurb of Chickasaw about halfway between that facility and Mobile.  Other attractive opportunities include building a portfolio of rental properties, bidding on foreclosed condos in the resort area of Orange Beach and buying apartments in Mobile itself.  “The folks coming to build the mill aren't going to buy” Duggar-Gaspelin says “and they're going to need rentals to live in while they're here.”

Latest Real Estate News and Interesting Statistics

Leave everything to me.

According to a study by Texas A&M University “For Sale By Owners” profit 16% less money than if they used a Realtor.

The same study found that Sellers who used a full service realty company verses a discount service enjoyed a 1.6% increase in profit as well as selling 17% quicker.

According to NAR, March 2006, "Consumers need professional assistance to understand and negotiate the current market realities. Sellers should listen to their agent's advice to competitively price and show the home, and buyers may want to choose a buyer's agent to represent their interests and help them negotiate favorable terms. Today's market has changed a lot from the conditions we've seen during the last five years."

The 30-year fixed-rate mortgage should increase gradually to 6.9 percent in the fourth quarter.

(March, 2006) -- Fifty-year mortgage loans are the buzz of the lending industry, with 40-year mortgage loans becoming more popular in California and other parts of the country where many buyers are priced out of the market.

About one-quarter of the loans closing in California has 40-year terms, says John Marcell, president of the California Association of Mortgage Brokers.

Fannie Mae says it plans to expand its purchase of 40-year mortgages, making them an option for more lenders. For 50-year loans to become a reality, Fannie Mae would have to agree to purchase them as well. Mortgage brokers hope that will happen.

"It's a good idea for consumers," says Marcell. "There's nothing wrong with a 50- or 60-year mortgage."

Source: Inman News, Janis Mara (03/11/2006)

Preparing your home for a Home Inspection

1. Clean or replace air filters on furnace or air-conditioning.
2. Check all outlets and light fixtures inside and outside. Repair any damaged electrical items. Replace missing cover plates and blown light bulbs.
3. Test all smoke and carbon monoxide alarms and replace batteries if needed.
4. Repair any minor damage to walls, ceilings or floors.
5. All windows and doors should be in proper working condition. Any broken window glass should be replaced.
6. Plumbing fixtures should be in proper working condition. Inspect the kitchen and bathroom fixtures for leaking dripping and leaking pipes.
7. Remove soil or mulch that comes in contact with siding.
8. Trim back bushes at least six inches from siding. Tree limbs should be trimmed to prevent them from coming into contact with your home.
9. Clean dirty gutters and downspouts; check that they drain and are well secured. Downspouts should drain away from the foundation.
10. Paint or seal weathered wood on the exterior. Caulk around trim work, windows, doors and openings for the gas supply or air-condition piping.
11. Check your roof's condition. Look for loose or damaged shingles; look at the flashing around the chimney, vent pipes and skylights.

Many of these suggestions cost little to no money at all to do. Good maintenance can make a big difference to the outcome of your homes inspection and ultimately the sale of your home.

Source: Homesafe Inspection