According to the National Association of Realtors®, almost 90% of home buyers do their house hunting online. The fact that the internet is taking over many traditional methods, makes it imperative for  home owners to move their campaigns to the web. Consumers are becoming more independent in the home buying process, relying on the internet for real estate market information and shopping for their perfect home. The quantity of home buyers who ended up purchasing a home they found using the Internet has significantly increased from only 8% in 2001 to a soaring 32% in 2008. However, buyers only account for half of the real estate equation that results in using the internet.

Sellers are relying on the internet to create effective online selling campaigns that catch the mouse click of potential buyers. Whether selling by owner or using a real estate agent, anyone trying to attract the attention of a buyer for their Mobile Eastern Shore home  should take full advantage of online marketing strategies. Listing agents advertise client’s homes on their company websites, the Multiple Listing Service and Realtor.com, and by other professional tools. Home owners choosing the for sale by owner route or just simply looking for more ways to expose their home on the market, now have access to many of the same professional tools real estate agents use and more. For example ForSaleByOwner.com now allows their clients to list their homes on the Multiple Listing Service and Realtor.com too. In addition, homes are also popularly advertised on websites such as, Craigslist, Google Base, Yahoo Real Estate, and Facebook.

Regardless of who is selling your Mobile Eastern Shore home, it is important to establish and maintain a successful home-selling Internet campaign. Here are a few tips to get you on the right track:

• It is crucial to give the home as much exposure as possible, especially on popular websites like local MLS sites.
• Use comprehensive and professional quality descriptions of the property.
• Be sure to include details such as room sizes, total square footage, key selling points and neighborhood or community assets.
• Display a variety of multiple, high-quality color pictures and, if possible, video tours of the home.
• Provide convenient, simple, quick and easy methods of contact for people requesting more information or pursuing a showing.
• Make scheduling a showing as convenient as possible for the prospective buyers.
• Set a competitive asking price based on the selling prices of comparable homes in the area.

Learn how my marketing strategies can get your Mobile Eastern Shore home sold in a shorter period of time and for more money by visiting JudySells.com.

What is your Mobile Eastern Shore home worth?

Mobile Eastern Shore Homes For Sale:

601 Sandpiper Lane, Daphne AL 36526

MLS# 160294

Updated Creole cottage in the heart of Daphne.  Home features heart pine floors throughout downstairs with 10’ ceilings, crown molding, kitchen with granite and breakfast area.  This home also boast a master suite with fireplace and screened back porch.  This home has been beautifully landscaped.  A must show!!

Learn more about 601 Sandpiper Lane and other Mobile Eastern Shore homes for sale by visiting JudySells.com.

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Calculating Capital Gains

(+) PURCHASE PRICE – Price paid for property

(+) COST OF PURCHASE – Transfer fees, attorney fees, inspections

(+) COST OF SALE – Repairs, commissions, attorney fees, inspections

(+) COST OF IMPROVEMENT – Room additions, deck, for example, though not replacing existing

(=) ADJUSTED COST BASIS OF YOUR HOME

(-) AMOUNT YOU SELL YOUR HOME

(=) CAPITAL GAIN

A Special Real Estate Exemption for Capital Gains

Even though the above calculation may indicate you owe Capital Gains, there is a special real estate exemption. Since 1997, up to $250,000 in capital gains ($500,000 for a married couple) on the sale of a Mobile Eastern Shore home is exempt from taxation if you meet the following criteria:

• You have lived in the home as your principal residence for two out of the last five years.

• You have not sold or exchanged another home during the two years preceding the sale.

NOTE: As of 2003, you may also qualify for this exemption if you meet what the IRS calls “unforeseen circumstances” such as job loss, divorce, or family medical emergency.

Learn more about selling your Mobile Eastern Shore home.

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Always consult a tax attorney regarding current tax laws.

Mobile Eastern Shore Real Estate For Sale:

11197 Highway 1, Fairhope AL 36532

MLS# 160717

Great getaway, this home is perfect weekender!!  Great views and incredible detail and charm.  Like new with decorator touches, granite countertops and open living area and pine floors throughout.  Outside you will find a wrap around balcony and covered porch.  Corp approval for pier.  Sandy beach and great fishing area.  This home is a must see!!

Learn more about 11197 Highway 1 and other Mobile Eastern Shore real estate for sale by visiting JudySells.com.

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The Mobile Eastern Shore Real Estate Podcast

February 2010: This month’s edition covers Mobile Eastern Shore real estate market activity and then we’ll offer three top tips to make sure you get the most of today’s opportunity! Features special guest Terri Murphy of US Learning. Program length: approximately 7 1/2 minutes

105 North Church Street, Fairhope AL 36532

MLS# 160519

Neat board and battan cottage in the heart of Fairhope.  Close to town, library and the bay.  Wide front porch, great landscaping and many attractive renovations.  Fabulous open kitchen with granite, gas cook top in island and stainless steel appliances.  Home boast heart pine floors.  Den has fireplace with gas logs.  Great yard and deck, lots of privacy and good storage.  Beautiful fruit trees.

Learn more about 105 North Church Street and other Mobile Eastern Shore homes for sale by visiting JudySells.com.

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Part I of this four-part series dealt with analyzing your financial situation, getting prior loan approval, and determining your real needs/desires in a first home. All that having been accomplished, you will now want to look for a mortgage and decide which is the most advantageous for you.

Mortgage Choices for Mobile Eastern Shore Home Buyers

As with any major purchase, you will want to shop around for the best deal. Contact several lenders (bank, savings and loan, credit union, private mortgage company, or a state or federal government lender.) Before doing that, however, you need to familiarize yourself mortgage types, terminology, and options. Your real estate agent will be helpful in this mission, as will the internet. Keying in First-time house buyers, mortgage assistance, HUD, or Community Housing Partners, will result in innumerable informative sites, a wealth of information for you to consider, and, most likely, a list of questions for you to ask your realtor and/or potential lender.

Adjustable Rate Loans

For help in determining which type of mortgage is best for you, check the chart found at http://mortgages.interest.com/content/first . In an easy-to-read format, the characteristics and suitability of many types of loans (fixed rate, step, balloon, adjusted rate –ARM) are simply and clearly explained. If, for instance, you plan to live in your Mobile Eastern Shore home more than 10 years and desire stability in payment amounts, then a fixed rate mortgage is for you. If, however, your finances are currently strained, but you know that in 5 to 10 years your monetary situation will improve or that you will most likely move within 10 years, then an ARM or balloon mortgage may be better for you. Being familiar with these options allows you to discuss them intelligently with your real estate agent and/or lender and then select the type which best fits your circumstances.

FHA Loans

Another good source of information for first-time home buyers is the Department of Housing and Urban Development (HUD), an agency which oversees FHA loans. This type of loan is particularly useful if you have little money for a down payment, less than great credit, or large monthly bills. An FHA loan requires as little as 3% down (and it can be a gift from a relative or friend). In terms of your credit rating, the FHA is primarily concerned that for the past two years you have paid bills in a timely manner and have been steadily employed. With FHA you have to wait only two years after declaring bankruptcy, and your debit-to-credit ratio can be higher than for a conventional loan. You can qualify for an FHA loan if your monthly payments are no more than 43% of your income, and, as with conventional loans, you can choose from many types.

Of course, there are some negatives to consider before taking on an FHA loan. Interest rates generally run about 1/8 of a percentage point higher than conventional rates, but the real disadvantage of an FHA loan is that the borrower must pay an up-front insurance premium of 1.75% of the mortgage if the down payment is less than 20%. This cost can, however, be added to your total loan amount.

When you have done all of your homework and are ready to actually apply for a mortgage, be sure that you have all the figures and paperwork required by the lender–and bring them with you. You’ll most likely need the social security number of each borrower; copies of bank account statements for the past 6 months; evidence of any other assets; a recent paycheck stub showing your earnings; credit card account numbers and the amount due on each; account numbers and balances due on outstanding loans; copies of income tax filings for the past two years; and a contact who can verify your employment. Yes, it‘s quite an extensive list, but be sure to check with the lender to see if anything else will be required.

As always, to avoid mental stress, financial strain, and even real estate fraud/scams such as bait and switch or loan flipping while purchasing your Mobile Eastern Shore home, be forearmed with accurate information and heed the sound advice of your trusted real estate.

Coming next!! Part III–finding your perfect first home, making an offer, and preparing for the closing.

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Mobile Eastern Shore Real Estate For Sale:

102 Beaver Dam Road, Fairhope AL 36532

MLS# 160225

Beautiful home in exclusive Rock Creek.  This home features over 5200+/- sq ft of living space.  There are five bedrooms with a bonus room.  Enjoying cooking in the amazing chefs kitchen which overlooks the family room with it’s fireplace.  There is a formal living room, formal dining room and a study.  A must show!

Learn more about 102 Beaver Dam Road and other Mobile Eastern Shore real estate for sale by visiting JudySells.com.

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Congratulations! So you’ve made the decision to stop renting and purchase a place of your own. The home buying process may initially appear complicated and a bit daunting, but by using the skills of a buyer’s real estate agent, searching the internet, and familiarizing yourself with each of the steps involved, your experience can be a smooth and rewarding one.

1. Analyzing your financial situation.

The first thing to do is to learn how much you can afford to pay for your Mobile Eastern Shore home. Generally speaking, mortgage costs, or PITI (principal, interest, taxes, and insurance), should not exceed 26-28% of your gross monthly income. Many internet web sites furnish free tools for calculating these expenses for you. Remember that in addition to income, your credit rating, on-going monthly expenses, amount of the down payment, and the current interest rate must be factored into your financial analysis. Also take into consideration any HOA’s (homeowners’ association) dues, maintenance costs, and utilities you’ll have to pay on a monthly basis. You would be wise to investigate state and federal government programs which help qualifying first-time buyers with down payments and closing costs. Visit  U.S. Department of Housing and Urban Development for specific information which could be quite beneficial to you.

2. Getting prior loan approval.

The next step, before you ever begin actually looking a home, is to secure pre-approval for a loan. In order to do this, you will need to provide a potential lender with all necessary information about your finances. Your realtor will help you do this.

After performing a thorough and positive analysis of your financial situation, the lender will issue you a letter of approval which states the amount for which you qualify. This letter assures buyers that you are guaranteed a sufficient loan and that they are guaranteed a sale with no unpleasant surprises.

3. Determining your needs and desires.

If you are relocating to Mobile Eastern Shore, you will certainly want to familiarize yourself with the area–in person or via the net. Think about the type of community you’d feel most comfortable in. Older and established? Brand new and shiny? Consider age, style, and size you’d prefer. Would a fixer-upper be a good match for you? Is proximity to good schools important? What about the distance to and from your workplace? Traffic patterns and noise? Ample (and reserved?) parking? Do the community amenities suit your lifestyle? Do you want neighbors nearby?

Make lists for yourself. What are your “must haves”? Where do you want laundry facilities? Is an updated kitchen essential? Do you prefer an open floor plan? Who will maintain a large yard? Prioritize your wants and needs and revise the list when necessary.

As a first-time Mobile Eastern Shore home buyer, you’ll learn that you’ll have to make some compromises and that the whole process can be time-consuming–but oh, so exciting! Rely on your real estate agent to advise you about the advantages/disadvantages of specific locations and house styles and help you through the loan approval step. Because of his/her access to the Multiple Listing Service (MLS), he or she can search, with your wish list in hand, through thousands of listings to find the “ideal” Mobile Eastern Shore home for you.

Watch this space for more simplified steps…

Mobile Eastern Shore Homes For Sale:

1 Old Pierce Road, Fairhope AL 36532

MLS# 157044

Old Pierce Plantation is designed for equestrians and non equestrian family alike to enjoy the peace and tranquility of country living. The subdivision features 3-15 acre tracts, 5 acre common area with a stocked pond and open air gazebo. This proposed home features Open floor plan with SS appliances, granite counter tops, wood floors all on your own 5 acre mini farm.

Learn more about 1 Old Pierce Road and other Mobile Eastern Shore homes for sale by visiting JudySells.com.

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