The Judy Niemeyer Team Blog

Mobile Eastern Shore Real Estate For Sale:

8830 Lea Brook Street, Fairhope AL 36532

MLS# 172681

Great home in sought after Leabrook neighborhood.  This home features a formal living room, dining room, and a kitchen that opens into den area.  The master bedroom also includes a  home office area.  Sit back and relax on the wrap around front porch or the screened back porch.  The air conditioning units were replaced two years ago and the roof is only four years old.

Learn more about 8830 Lea Brook Street and other Mobile Eastern Shore real estate for sale by visiting JudySells.com.

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With more and more people working from home at least part of the time, there is, understandably, a need/desire for a designated office in their Mobile Eastern Shore home. Perhaps you have been toying with the idea of creating one for yourself, but a lack of room, money, set-up know-how, and/or motivation has prevented you from doing so. Read on for solutions to each of these problems…

1.  MOTIVATION:

• Ability to work from home. It is much easier to work at home in an established office space. In fact, some employers will allow you to do so only if you have such a designated space.
• Peaceful environment. Bothered by children, ringing telephones, tv noise? A designated office in your Mobile Eastern Shore home allows you to shut the door, get away from such distractions, and concentrate on your work.
• Elimination of clutter. No more vying for space among crayons, toys, and homework.  You will monitor what goes into your office.
• Less commuting time. If you’re not stuck in traffic going to or coming from your workplace, you will have more time to spend with your family, In addition, you will most likely be in a better frame of mind.
• Monetary advantages. Adding an office to your Mobile Eastern Shore home improves the resale value since it is a much desired feature in today’s market. In addition, if you are self- employed, you can write off your computer, telephone, and maintenance expenses on your taxes. Also, don’t forget the savings in decreased gas usage!

2.  LOCATION AND SETTING UP
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Tags: creating home office, home office, mobile eastern shore home

Mobile Eastern Shore Homes For Sale:

162 Pinecrest Lane, Fairhope AL 36532

MLS# 172858

One of a kind completely renovated Fairhope cottage two blocks from Mobile Bay. Whimsical, quality, artistic wood vaulted open beamed ceiling, hardwood floors. Travertine, huge island, eating bar, SubZero, high end master bath.  Step back in time, but enjoy modern living in this fantastic home.

Learn more about 162 Pinecrest Lane and other Mobile Eastern Shore homes for sale by visiting JudySells.com.

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Because of today’s economic situation, rapidly rising health care costs, and falling retirement and savings account balances, many seniors are feeling financial stress. Looking for relief from their monetary woes, over 600,000 seniors have taken advantage of the FHA’s Home Equity Conversion Mortgage (HECM), better known as a reverse mortgage.

A reverse mortgage is a special type of home loan based on age, equity, interest rates, and the value of your Mobile Eastern Shore home, a reverse mortgage allows you to not only forego paying monthly mortgage rates but also to receive money (as long as at least one borrower lives in the home) on a continuous monthly basis, for a fixed period of time, or in unscheduled installments as needed.

To qualify for a HECM, the FHA requires that you own your home outright or have a low mortgage balance that can be paid from the loan’s proceeds, be at least 62 or older, and that you continue to reside in your Mobile Eastern Shore home. Single family homes and 1-4 unit homes with one unit occupied by the borrower are eligible. The same holds true for HUD approved condos and manufactured homes that meet FHA standards.

A reverse mortgage differs from a home equity loan in that you do not make monthly payments, and it is available to you regardless of your income. The amount of the HECM is based on your age, the current interest rate, and the appraised value of your Mobile Eastern Shore home.

When you or the last surviving homeowner moves from the house or passes away, you or your estate has approximately 12 months to repay the loan amount, with fees and interest, to the lender. Any remaining equity after a sale will belong to you or your heirs. If the proceeds of the sale are not enough to cover the loan, the lender, not you or your heirs, must take the loss.

There are four ways to receive your money:

• Lump sum–all the cash at closing

• Tenure–equal monthly payments as long as the house is the principal residence.

• Term–equal monthly payments for a fixed number of years.

• Line of credit–funds available to draw on at any time.
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Tags: mobile eastern shore home, reverse mortgage

Mobile Eastern Shore Real Estate For Sale:

134 Easton Circle, Fairhope AL 36532

MLS# 171971

Turn key home located on the 9^th fairway of Rock Creek Golf Course.  This home boast beautiful views, a great floor plan and a split bedroom layout.  Enjoy the extra space of a 12X13 room that could be a family room or an office.  The kitchen offers lido granite counter tops, a wonderful island perfect for eating breakfast and plenty of room for friends to gather.  Outside you will find a screened porch and an outdoor gas cooking area.  There is a new Trane 16 seer heating and air conditioning unit so this house is very energy efficient. 

Learn more about 134 Easton Circle and other Mobile Eastern Shore real estate by visiting JudySells.com.

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Tax season is just around the corner! Its not too early  to start identifying house-related tax deductions and gathering the necessary documentation for them.

Doing so provides you with a win-win situation. Not only will you get a head start on a sometimes onerous task, you will also derive pleasure from seeing how much money you will save simply by owning Mobile Eastern Shore real estate. The following information is current as of now, but I urge you to check with your accountant, visit the IRS website, or call the IRS assistance line at 800-829-1040 for verification and/or specifics.

PRIMARY RESIDENCES

1. MORTGAGE INTEREST: As you know, much of your mortgage payment goes toward paying off interest, especially in the early years. All this paid interest, on debts of up to $1 million on a joint return, is tax deductible. The amount you have paid is reported to you on a 1098 form sent by your lender and should be reported by you on line 10 of a Schedule A form (itemized deductions).
2. HOME EQUITY LOAN INTEREST: Interest paid on home equity loans (second mortgages, equity credit lines, and some refinancing) is fully deductible up to $100,000–regardless of how you use the proceeds. If you use some or all of the proceeds for home improvements, that amount can be added to the $100,000. Be sure to carefully document all improvement costs. Note: The limits mentioned apply only as long as all debt secured by the residence does not exceed the fair market value of the property.
3. POINTS: The points you paid to the lender at closing are deductible for the year in which you paid them. This amount is also reported to you on the lender’s 1098 form. See publication # 936 from the IRS for more specific information, especially about points paid for refinancing.
4. PROPERTY TAXES: Mobile Eastern Shore real estate property taxes are fully deductible.
5. PRIVATE MORTGAGE INSURANCE: If your mortgage was taken out between 2007 and 2010 and your joint income is below $100,000, you can deduct any premiums you paid. Note: This is the last year that you can take this deduction.

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Tags: mobile eastern shor real estate, real estate deductions, tax deductions

Mobile Eastern Shore Homes For Sale:

5520 Battles Wharf Drive, Fairhope AL 36532

MLS# 171923

Southern Living in Point Clear.  This home boasts an open floor plan, formal dining room, and an updated kitchen with Viking 6 burner stove.  Outside you will enjoy the beautifully landscaped yard and a screened gazebo where you can watch the sunset.  There is a boat dock with a lift and the subdivision has deeded access to the bay.

Learn more about 5520 Battles Wharf Drive and other Mobile Eastern Shore homes for sale by visiting JudySells.com.

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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 walk through five top tips to selling your home.

Features special guest Terri Murphy of US Learning.

Program length: approximately 7 minutes

Tags: home selling tips, mobile eastern shore real estate, podcast