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“A Rising Absorption Rate When Selling A Home Within Lillian, Alabama!” By Albert Marshall Cheney, Certified Alabama Appraiser.

06/13/2010 in Baldwin County Alabama Neighborhoods! | No comments

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.

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“Mobile’s Historic Midtown Neighborhoods And Subdivisions.” Call (251) 533-2424 for more appraisal & real estate information!

03/30/2010 in Mobile County Alabama Neighborhoods! | No comments

The midtown area of Mobile, Alabama now has over 300 active listings as of this writing. Asking prices are from $29,900 to $1,500,000 depending on amenities, location and square footage.

Albert Cheney is ready to assist you with all of your real estate questions about the midtown area as well as other historic Mobile information.

Below is a listing of some of the neighborhoods within Midtown Mobile. Please call Al Cheney at (251) 533-2424 for additional information. Al Cheney has over 35 years experience!

  • Ashland Place Historic District
  • Battery Heights
  • Bridlewood Estates
  • Brookwood
  • Church Street East Historic District
  • Cromwell Place
  • Dauphin Acres
  • Dauphin Place
  • Delwood
  • Demouy Place
  • DeTonti Square Historic District
  • DuBroca Tract
  • Ellinor Place
  • Flo-Claire
  • Floral Gardens
  • Glendale Park
  • Homer Place
  • Hunter
  • Indian Creek
  • Leinkauf Historic District
  • Lower Dauphin Street Historic District
  • Lynnwood
  • Meadowbrook
  • Mechem & Bixler
  • Midtown Historic District
  • Mount Island Place
  • Oakleigh Garden Historic District
  • Old Dauphin Historic Way
  • Rosswood
  • Silverwood
  • Stoneridge Condominiums
  • Touart Tract
  • Western Annex
  • West End
  • Westlawn
  • Windsor Warwick Condominiums

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Saraland’s Craftsman Style Homes Subdivision, “CHARLESTON RIDGE”.

03/05/2010 in Mobile County Alabama Neighborhoods! | No comments

BLOG-CharlestonRidgeEntranceSaraland02262010 [05]Over the past several years in Saraland, Alabama, Celeste Road has been a popular area for home builders due to the availability of beautiful wooded land with interesting topography and vegetation.

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.BLOG-CharlestonRidgeHomeSaraland02262010 [03]

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 Alabama. Click these web-links for even more information about Albert Cheney and the Mobile Bay Metro Area: http://www.CheneyAppraisalServices.com/ or http://www.MobileAlabamaFHARealEstateAppraisers.com. Albert is ready to answer your questions!

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“Charleston Oaks”, An Alabama Neighborhood Located In Western Mobile.

03/02/2010 in Mobile County Alabama Neighborhoods! | No comments

BLOG-CharlestonOaksEntranceSign02242010 [01]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.BLOG-CharlestonOaksHomeListing02242010 [03]

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.CheneyAppraisalServices.com, for other information.

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Mobile County, Alabama 4th Quarter Real Estate Activity Statistics For The Year 2009.

01/03/2010 in Economic News, Real Estate Market And The Mobile Bay Metro Area! | No comments

The 2009 fourth quarter, 1st October 2009 to 31st December 2009, indicates at least 838 sales within Mobile County, Alabama according to online REALTOR information records. The total sales can be broken down into four property type categories: (1) condominiums & townhouses, (2) manufactured homes, (3) new construction homes, and (4) single family older homes. Also, the last quarter of total sales compared to the third quarter of total sales indicate a drop of 146 sales, or -14.8%.

The approximate 31 condominiums & townhouses had an average list price of $107,838, 69 average days on market (dom) and a sale price to list price percentage of 91.03%.

The approximate 13 manufactured homes had an average list price of $41,923, 61 average days on market (dom) and a sale price to list price percentage of 86.24%.

The approximate 131 new construction homes had an average list price of $179,631, 70 average days on market (dom) and a sale price to list price percentage of 99.39%.

The approximate 659 single family older homes (18.44% drop when compared to the third quarter) had an average list price of $142,956, 86 average days on market (dom) and a sale price to list price percentage of 95.8%.

The average days on market (dom) for the fourth quarter was around 82 days and the average per square foot was $78.

The fourth quarter indicates more new construction in west Mobile, south of the Mobile Regional Airport, Semmes, southwest Mobile County, Theodore, and the Tillman’s Corner area when compared to other areas of Mobile County. Most of the single family residential or home sales occurred in the areas north and south of Cottage Hill Road, Municipal Park area & city west central, west Mobile, Semmes, Midtown area near downtown historic Mobile, and areas east of Wilmer, Alabama.

The average sold terms for the fourth quarter was CASH (21%), CONVENTIONAL (27.3%), FHA (42.4%), VA (6.4%) and OTHER-ASSUMPTION, AUCTION, VENDOR LIENS (2.9%).

The above information has been provided by Albert Marshall Cheney, Cheney Appraisal Services, located in 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. Contact 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.

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