Posts in category 'Buyer Amp Seller Tips'
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23
Should you purchase an existing or new construction home?
Do you have a love of old craftsman homes or prefer a modern French country farmhouse? Along Alabama's Gulf Coast, we are lucky to be able to accommodate either of those preferences on either side of Mobile Bay.
Even with the market returning to pre-pandemic conditions, in many parts of the country the number of available houses for sale is still relatively low. But whether you prefer a historic existing home in Mobile's Dauphin Way Historic District or a new home built to Fortified Gold Status in Daphne, you have options in our area thanks to a slowing of existing home sales over the past few months – at least compared to the past few years – and an increase in new construction list...
22
Real Estate Basics: What Is Due Diligence?
If you've ever had a contract accepted for the purchase of the house you want to call home, then you know what a relief it can be. It's a major portion of the home buying process that you can cross of the to-do list.
But what comes after? It's easy to forget that the contract being accepted is the beginning of another portion of the home buying process. During escrow, the time between a contract acceptance and closing, is when buyers must do their due diligence. Due diligence is essentially making sure you want to actually buy the property by having it inspected and researched.
Alabama is a buyer beware state for existing home sales, which means exactly what it sounds it does.
23
Answers to 3 common questions about the Gulf Coast's historic sellers' market
Have you read an article about real estate lately? Hopefully, the answer is yes because you've been reading this blog. Even if that isn't the case, you probably have seen real estate making headlines. Why? The market is hot.
A culmination of record-low interest rates and delayed sales due to COVID-19 created a strong demand for homes. As the laws of supply and demand dictate, an increase in demand for homes to purchase without an immediate increase in supply caused home prices to increase.
In Baldwin County, the average sales price has risen by more than $110,000 from January 2019 to December 2021. Same is true in Mobile County. The average sales price has also risen by more than $68,000 from...
21
Tips to make your home more energy efficient this spring
It shouldn't come as a shock that our area has the highest average residen- tial air-conditioning expenditures in the country, according to the U.S. Energy Information Administration (EIA). In fact, those electricity costs are probably already on the rise this April thanks to our warming spring weather kicking on the A/C.
Around this time each year, many along Alabama's Gulf Coast consider ways to cut energy costs and make their homes more energy efficient. That's likely even more true this year than most with the average change in energy costs increasing 25.6 percent from February 2021 to February 2022, according to the Bureau of Labor Statistics. Cutting down on drafts by improving caulking and/or insulation around doors and windows as well the atti...
11
Real Estate Basics: What is earnest money?
With all of the moving parts surrounding, well – making a move, the financials can quickly become confusing. One of the often-overlooked portions of purchasing or selling a home is earnest money.
Earnest money is essentially a deposit on the home you would like to purchase. Because a seller removes her property from the market while the closing process is completed, earnest money is seen as a good faith deposit that a buyer intends to carry through with the purchase. If the closing isn't completed, the seller would keep the earnest money unless an issue arises that was outlined as a reason to return the money to the buyer in the purchase agreement.
Most often those pre-outlined issues that would return earnest money are issues with financing, app...
