·:[ The Judy Niemeyer Team Blog ]:·
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Before you make your final buying or selling decision, you should have the home inspected by a professional. An inspection can alert you to potential problems with a property and allow you to make an informed decision. Ask these questions to prospective Mobile Eastern Shore home inspectors:

1. Will your inspection meet recognized standards? Ask whether the inspection and the inspection report will meet all state requirements and comply with a well-recognized standard of practice and code of ethics, such as the one adopted by the American Society of Home Inspectors or the National Association of Home Inspectors. Customers can view each group’s standards of practice and code of ethics online at www.Ashi.org or www.Nahi.org. ASHI’s Web site also provides a database of state regulations.

2. Do you belong to a professional home inspector association? There are many state and national associations for home inspectors, including the two groups mentioned in No. 1. Unfortunately, some groups confer questionable credentials or certifications in return for nothing more than a fee. Insist on members of reputable, nonprofit trade organizations; request to see a membership ID.

3. How experienced are you? Ask how long inspectors have been in the profession and how many inspections they’ve completed. They should provide customer referrals on request. New inspectors also may be highly qualified, but they should describe their training and let you know whether they plan to work with a more experienced partner.

4. How do you keep your expertise up to date? Inspectors’ commitment to continuing education is a good measure of their professionalism and service. Advanced knowledge is especially important in cases in which a home is older or includes unique elements requiring additional or updated training.

5. Do you focus on residential inspection? Make sure the inspector has training and experience in the unique discipline of home inspection, which is very different from inspecting commercial buildings or a construction site. If your customers are buying a unique property, such as a historic home, they may want to ask whether the inspector has experience with that type of property in particular.

6. Will you offer to do repairs or improvements? Some state laws and trade associations allow the inspector to provide repair work on problems uncovered during the inspection. However, other states and associations forbid it as a conflict of interest. Contact your local ASHI chapter to learn about the rules in your state.

7. How long will the inspection take? On average, an inspector working alone inspects a typical single-family house in two to three hours; anything significantly less may not be thorough. If your customers are purchasing an especially large property, they may want to ask whether additional inspectors will be brought in.

8. What’s the cost? Costs can vary dramatically, depending on your region, the size and age of the house, and the scope of services. The national average for single-family homes is about $320, but customers with large homes can expect to pay more. Customers should be wary of deals that seem too good to be true.

9. What type of inspection report do you provide? Ask to see samples to determine whether you will understand the inspector’s reporting style. Also, most inspectors provide their full report within 24 hours of the inspection.

10. Will I be able to attend the inspection? The answer should be yes. A home inspection is a valuable educational opportunity for the buyer. An inspector’s refusal to let the buyer attend should raise a red flag. 

Are you a Mobile Eastern Shore home buyer with questions concerning home inspections? Give me a call. I’m happy to answer all your questions. Also, visit JudySells.com to learn more about buying a Mobile Eastern Shore home.

Information is courtesy of Realtor Magazine with permission by the National Association of Realtors.

Mobile Eastern Shore Real Estate For Sale:

113 High Pines Ridge, Fairhope AL 36532

Incredible view of #6 hole from wide verandahs with 900 square feet of charm. Home with unbelievable detail – crown molding, tall ceilings, wood floors. Great open kitchen with stainless appliances and beautiful cabinetry. Open to thew den with fireplace. Downstairs office. Charm flows throughout!

Learn more about 113 High Pine Ridge and other Mobile Eastern Shore real estate by visiting JudySells.com.

If you’re thinking of selling your Mobile Eastern shore home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won’t cover your total mortgage obligation and closing costs, and you don’t have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.

1. Consider loan modification first. If you are thinking of selling your Mobile Eastern Shore home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as: 

• Refinancing your loan at a lower interest rate
• Providing a different payment plan to help you get caught up
• Providing a forbearance period if your situation is temporary 

When a loan modification still isn’t enough to relieve your financial problems, a short sale could be your best option if 

• Your property is worth less than the total mortgage you owe on it.
• You have a financial hardship, such as a job loss or major medical bills.
• You have contacted your lender and it is willing to entertain a short sale. 

2. Hire a qualified team. The first step to a short sale is to hire a qualified real estate professional* and a real estate attorney who specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with those who demonstrate a thorough working knowledge of the short-sale process and who won’t try to take advantage of your situation or pressure you to do something that isn’t in your best interest.

A qualified real estate professional can: 

• Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).
• Help you set an appropriate listing price for your home, market the home, and get it sold.
• Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).
• Ease the process of working with your lender or lenders.
• Negotiate the contract with the buyers.
• Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can’t sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.  

3. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale “package” that accompanies any offer typically must include 

• A hardship letter detailing your financial situation and why you need the short sale
• A copy of the purchase contract and listing agreement
• Proof of your income and assets
• Copies of your federal income tax returns for the past two years 

4. Prepare buyers for a lengthy waiting period. Even if you’re well organized and have all the documents in place, be prepared for a long process. Waiting for your lender’s review of the short-sale package can take several weeks to months. Some experts say: 

• If you have only one mortgage, the review can take about two months.
• With a first and second mortgage with the same lender, the review can take about three months.
• With two or more mortgages with different lenders, it can take four months or longer.  

When the bank does respond, it can approve the short sale, make a counteroffer, or deny the short sale. The last two actions can lengthen the process or put you back at square one. (Your real estate attorney and real estate professional, with your authorization, can work your lender’s loss mitigation department on your behalf to prepare the proper documentation and speed the process along.)

5. Don’t expect a short sale to solve your financial problems. Even if your lender does approve the short sale, it may not be the end of all your financial woes. Here are some things to keep in mind: 

• You may be asked by your lender to sign a promissory note agreeing to pay back the amount of your loan not paid off by the short sale. If your financial hardship is permanent and you can’t pay back the balance, talk with your real estate attorney about your options. 
• Any amount of your mortgage that is forgiven by your lender is typically considered income, and you may have to pay taxes on that amount. Under a temporary measure passed in 2007, the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act, homeowners can exclude debt forgiveness on their federal tax returns from income for loans discharged in calendar years 2007 through 2012. Be sure to consult your real estate attorney and your accountant to see whether you qualify. 
• Having a portion of your debt forgiven may have an adverse effect on your credit score. However, a short sale will impact your credit score less than foreclosure and bankruptcy.

Learn more value of your Mobile Eastern shore home.

Note: This article provides general information only. Information is not provided as advice for a specific matter. For advice on a specific matter, consult your attorney or CPA. 

Reprinted from Realtor Magazine with permission of the National Association of Realtors.

Mobile Eastern Shore Real Estate:

22627 Alice Lane, Fairhope AL 36532
MLS Number: 144468

Located in the desirable, gated community of Flying Creek. Jsut minutes to Mobile and Fairhope. Totally private. Ready to move-in. Freshly painted throughout. New carpet. New master bath with tile shower, garden tub. Tremendous floor space. Master and 2nd bedroom on main level. Incredible basement area/rec room & media room. guest suite. Sprinkler and well.

Learn moare about 22627 Alice Lane and other Mobile Eastern Shore real estate by visiting JudySells.com.

Search all Mobile Eastern Shore real estate and home for sale.

If you are buying Mobile Eastern Shore real estate, you will want to know what your credit score is. Lenders look at your credit history, debt-to-income ratio and your credit score when qualifying you for a home loan. Credit scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage. The following factors affect your score:

1. Your payment history. Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history.

2. How much you owe.  If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it’s a good thing if you have a good proportion of balances to total credit limits.

3. The length of your credit history. In general, the longer you have had accounts opened, the better. The average consumer’s oldest obligation is 14 years old, indicating that he or she has been managing credit for some time, according to Fair Isaac Corp., and only one in 20 consumers have credit histories shorter than 2 years.

4. How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay them promptly.

5. The types of credit you use. Generally, it’s desirable to have more than one type of credit – installment loans, credit cards, and a mortgage, for example.

For more on evaluating and understanding your credit score, visit www.myfico.com. 

Are you thinking of buying Mobile Eastern Shore Real Estate real estate. Learn about the home buying process at JudySells.com or give me a call, 251-990-0569, for more personal service. 

Search all Mobile Eastern Shore real estate real estate and homes for sale.

Reprinted from Realtor Magazine with permission of the National Association of Realtors.

Mobile Eastern Shore Real Estate For Sale:

1508 Captain O’Neal Drive, Daphne AL 36526
MLS Number: 144498

Great location in Old Town Daphne! Walk to the bay. Nicely renovated. 2nd lot can be purchased for $165,000. this home has great style and charm. Cook’s kitchen with wood block counters and top of the line appliances. Openness and great flow for entertaining. Beautiful grounds and gardens. Fabulous screened porch.

Learn more about 1508 Captain O’Neal Drive and other Mobile Eastern Shore homes by visiting JudySells.com.

Search all Mobile Eastern Shore homes for sale.

I found a great website, Energy Savers, with energy saving tips for Mobile Eastern Shore homeowners. This site provides homeowners with tips for saving energy and money at home and on the road.

By following just a few of the simple tips found on this Energy Savers Web site, you can make your home more comfortable and easier to heat and cool-while you save money. The site also helps you beat the high cost of fuel, with driving and car maintenance tips to save you money on the road.

Some easy low-cost and no-cost ways to save energy include: 

• Install a programmable thermostat to keep your house comfortably warm in the winter and comfortably cool in the summer.
• Use compact fluorescent light bulbs with the ENERGY STAR® label.
• Air dry dishes instead of using your dishwasher’s drying cycle.
• Turn off your computer and monitor when not in use.
• Plug home electronics, such as TVs and DVD players, into power strips; turn the power strips off when the equipment is not in use (TVs and DVDs in standby mode still use several watts of power).
• Lower the thermostat on your hot water heater to 120°F.
• Take short showers instead of baths.
• Wash only full loads of dishes and clothes.
• Drive sensibly. Aggressive driving (speeding, rapid acceleration and braking) wastes gasoline.
• Look for the ENERGY STAR label on home appliances and products. ENERGY STAR products meet strict efficiency guidelines set by the U.S. Department of Energy and the Environmental Protection Agency. 

The information on this Web site is also available in PDF format (PDF 2.7 MB).

If you are a Mobile Eastern shore homeowner, I encourage you to check out Energy Savers. Following a few of their suggestions will not only put more money in your pocket, but make our planet healthier and greener.

If you are thinking about buying a Mobile Eastern shore home, visit JudySells.com. It’s a great place to learn about Mobile Eastern shore real estate and view Mobile Eastern Shore homes for sale.

Mobile Eastern Shore Homes For Sale:

104 Savannah Square, Fairhope AL 36532
MLS Number: 146680

A feeling of Savannah – tremendous value – incredible quality. Built by RC Niemeyer and located in the Rock Creek area of Fairhope, home of the Rock Creek Golf Club. Designed to entertain with an open floorplan. A cook’s kitchen with top of the line appliances – gas stove and working island. Main level master suite with office/den. Great privacy in this home. Back entry garage.

Learn more about 104 Savannah Square and other Mobile Eastern Shore homes by visiting JudySells.com.

Search all Mobile Eastern Shore homes for sale.

Judy Niemeyer of Ashurst and Niemeyer presents:

The Mobile Eastern Shore Real Estate Podcast

This month’s edition covers Mobile Eastern Shore real estate market activity and then we’ll look at the new homebuyer’s tax credit for 2009 and we’ll discuss our local market trends. 

Program length: approximately 9 minutes