Thinking about buying a Dothan area home?

The Bobby Dean Team would love to work with you as a buyers agent. We make every effort to find a home that works for you. We feel as an agent we are in the service business working for you. Generally, the seller pays our commission. Therefore, you get the benefit of our knowledge and experience with no cost to you. You will find us convenient to your schedule. Feel free to call, text, or email us with questions or to tour homes. We can show and sell the homes listed with other companies.

119 Emerald Lake Drive

Wow! Think about coming home to this relaxing view.  Sit on your porch, view from your windows, or relax in the common area. All maintained with your HOA fees of $550 a year including everything except personal flower beds.

This two bedroom two bath home features new granite counter tops, new stainless appliances, new vinyl flooring that simulates wood, and fresh paint. 

Call 334-701-1102 today to arrange a tour. You will find us convenient to your schedule.

The difference between Pre-qualified and Pre-approved

Typically you will first pre-qualify for a mortgage, then get pre-approved before you find the specific home you wish to purchase. What is the difference?

Pre-qualification is an informal determination by a lender stating how much mortgage you can afford.

Pre-approval is a guarantee in writing by a lender to grant you a loan up to a specified amount

 

More About SEER

Earlier we posted about the new requirements for SEER if something happens to your A/C system. Old Republic Home Warranty published the article below for thoughts about cost.

Installation Cost Versus Expected Energy Savings: The jump from 13 SEER to 14 SEER is not without cost. The more efficient equipment may have a 25% to 50% (and sometimes more) higher replacement cost than the older systems. There are other factors to consider as well, as the high-efficiency equipment may not be compatible with the rest of the HVAC system and may not fit where the old equipment was located. That could mean additional construction, upgrades, modifications, and labor. In total, you can probably expect to pay anywhere from about $3,000 to $5,000 (or more) to replace an air conditioning system and meet the minimum requirements.

According to the online energy calculator from Lennox (
http://bit.ly/19wMMDX), upgrading from 10 SEER (common for older equipment) to 14 SEER would result in a 29% increase in energy efficiency. Based on the U.S. national average for energy, a homeowner could expect to save about $1,395 over a 15-year period on energy bills. In warmer regions, where people run their air conditioners more often (e.g., Arizona, Texas, Florida, etc.), savings over 15 years could amount to $3,000 - $4,500 or more.

As you can see, the cost to install the new equipment may pay for itself over the life of the equipment
 

 

Did you short sale your home?

Congress once again extended the Mortgage Forgiveness Debt Relief Act. If you were a homeowner who decided to short sale your home last year, its not all bad news.

The act made it so that qualifying homeowners did not have to pay tax on debt forgiven by a lender. Without the Act's tax shield that forgiven debt is considered taxable income by the government.

Short-selling a home in 2015 is a gamble if Congress does not extend the act, you will pay taxes on forgiven debt.

Check with your tax person.

 

 

 

When to sell your home

If you have the correct price and promotion, then anytime is a good time to list your home. We would love to show you how we tell the world your home is for sale.

 

January 2015 Home Sales compared to January 2014 

The chart below compares single family home sales for January compared to January 2014 broken out by price range. Check out the dollar value change at the bottom of the page. Click on the tab below to find the value of your Dothan area home.

http://www.dothanrealestate.us/sell/

 

Market Comparison Report by Price
Dates: 01/01/2015 to 1/31/2015
  01/01/2014 to 1/31/2014
Property Types: Single Family
Areas: ALL

 

  Jan 1 - Jan 31, 2014 Jan 1 - Jan 31, 2015 Difference Percentage
Price Range Units Dollars Units Dollars Units Dollars Units Dollars
0 - 29999 6 110,250.00 4 83,800.00 -2 -26,450.00 -33.33 -23.99
30000 - 39999 6 199,449.00 4 145,900.00 -2 -53,549.00 -33.33 -26.85
40000 - 49999 0 0.00 0 0.00 0 0.00    
50000 - 59999 5 261,604.00 5 269,250.00 0 7,646.00 0.00 2.92
60000 - 69999 2 122,500.00 5 327,475.00 3 204,975.00 150.00 167.33
70000 - 79999 5 373,000.00 5 382,400.00 0 9,400.00 0.00 2.52
80000 - 89999 1 83,050.00 5 412,000.00 4 328,950.00 400.00 396.09
90000 - 99999 1 91,000.00 1 99,000.00 0 8,000.00 0.00 8.79
100000 - 119999 4 447,100.00 7 783,000.00 3 335,900.00 75.00 75.13
120000 - 139999 12 1,558,750.00 1 137,500.00 -11 -1,421,250.00 -91.67 -91.18
140000 - 159999 6 895,900.00 4 621,400.00 -2 -274,500.00 -33.33 -30.64
160000 - 179999 3 496,500.00 4 683,000.00 1 186,500.00 33.33 37.56
180000 - 199999 2 369,900.00 3 584,900.00 1 215,000.00 50.00 58.12
200000 - 249999 9 2,041,790.00 12 2,678,400.00 3 636,610.00 33.33 31.18
250000 - 299999 8 2,185,912.00 6 1,647,500.00 -2 -538,412.00 -25.00 -24.63
300000 - 399999 2 713,000.00 4 1,398,000.00 2 685,000.00 100.00 96.07
400000 - 499999 0 0.00 2 827,000.00 2 827,000.00    
500000 - 749999 1 550,000.00 3 1,970,400.00 2 1,420,400.00 200.00 258.25
750000 - 999999 0 0.00 1 770,000.00 1 770,000.00    
1000000 - 1249999 0 0.00 0 0.00 0 0.00    
1250000 - 1499999 0 0.00 0 0.00 0 0.00    
1500000 - 1999999 0 0.00 0 0.00 0 0.00    
2000000 - 2999999 0 0.00 0 0.00 0 0.00    
3000000 - 99999999 0 0.00 0 0.00 0 0.00    
Totals: 73 10,499,705.00 76 13,820,925.00 3 3,321,220.00 4.11 31.63

 

 

Makeover the Kitchen

The kitchen is rated as the most important room in the home to have in top shape before putting your home on the market. We recommend focusing on minor repairs that center on the function of the kitchen first, such as repairing leaky faucets, loose light fixtures, or blemishes on the countertop. Then small enhancements such as painting the walls, updating the cabinet hardware, adding new curtains, or light fixtures. Replacing appliances should be the last resort. However, do not ignore appliances if in poor condition.

 

 

Clear away clutter

Clearing away clutter and depersonalizing your home is estimated to improve the value 3% to 5%. Cost is time and elbow grease.

First Impressions

You'll never get a second chance to make a first impression. When potential buyers drive up to your home, if they don't like what they see immediately, they may not get past the exterior to find the great things inside.

It's not about planting expensive trees, installing fountains or other fancy upgrades. In fact, some of the most value-added outdoor home-improvement projects cost little to nothing, except for your time. The National Association of Realtors® (NAR) suggests some of the following property improvements:

Get out your pruning shears: If your home is on the market, keeping the lawn mowed is a given. Keeping plants and flowers watered is also essential. Pruning trees, shrubs and other greenery is more easily overlooked, but it is one of those touches that will make your home stand out. Follow a pruning guide, like the one provided by Better Homes and Gardens, to get the most out of your efforts.

Dig into some mulch: Mulching is another often overlooked landscaping project with a tremendous impact. It helps conserve moisture, protects roots, discourages weeds, and other benefits. You can choose between all-natural mulches and decorative mulches, such as stone. You can even use compost that you create yourself or mown grass and fallen leaves.

Show off your green thumb: Purchase outdoor containers that complement your home's style and plant something unusual or interesting, NAR suggests. Place plants on the patio or around the home's entrance to immediately create a more appealing exterior. Plant bright flowers and foliage to provide a splash of color.

Clean up your home's exterior: Spend a weekend cleaning your gutters, windows and especially your siding, among other exterior items. Rent or purchase a power washer for a very affordable price to really make your home shine.

Front Entrance

If the curb appeal brings a potential buyer to the door, they will spend more time at the front entrance than any other part of the home. Dress up the front entrance with pressure washing and fresh paint.

 

 

Old houses typically have old pipes. If the house you have your eye on was built before 1960, the pipes may be made of steel or cast-iron. These materials corrode, decay and rust over time. Cast iron pipes are notorious for becoming clogged with mineral build up.

Determining the type of pipes in the home is challenging because so much of the system is behind walls. A plumbing contractor inspection is your best bet, and even then you may not learn about all of the pipes in the house.

"Replacing old pipes in a 1,500-square foot, two-bathroom home costs $4,000 to $10,000, and requires cutting open walls and floors," claims Joe Bousquin at HouseLogic.

 

A home's electrical wiring system has a life expectancy of about 40 years, according to Mike McClintock, home repair writer with the Chicago Tribune. Safety risks increase when the system ages beyond this limit, he warns.

If the home was built between 1920 and 1950 and has never been remodeled, it may still have knob-and-tube wiring, which is considered incapable of handling today's electrical loads.

Some home insurers won't cover a home with this type of wiring and will insist that it is replaced before insuring the home.

Your home inspector should be able to determine what type of wiring the home contains and its condition, at least in visible areas.

 

Settling of your home

It would seem that an old house has done all the settling it's going to do, right? Wrong, according to Page Engineering in Missouri. The rate at which the house settles diminishes over time, but it never completely stops – especially if the house has never been "piered."

Piers are long steel shafts that are driven through the soil and into the bedrock below. This process takes the weight of the home off unstable soil, and the home is less prone to settlement. It's a big job, though, and quite pricey.

Look for cracks in the walls, bulging floors and doors that won't close. These are all signs of possible foundation damage. Not all cracks, however, indicate a problem, so don't be alarmed – let a professional diagnose the situation.

The engineers with Page suggest taking a 4-foot bubble level with you when you visit an older home you're interested in purchasing. Use the level to check the floors and walls. If any of them are out of level, have the house checked by a structural engineer.

 

What You Must Know About Insurance When Buying a Home

 

Purchasing a home involves getting to know a lot of financial terms and processes that most first-time homebuyers have never been exposed to. One of the most confusing is insurance. If you've never owned a home before, your familiarity with insurance most likely centers around auto insurance, health insurance, life insurance and, perhaps, renter's insurance.

 

Even then, your level of familiarity may be minimal, if you are like most Americans. In fact, a mere 14 percent of those who have health insurance understand even the most basic insurance jargon, such as deductibles, co-payments and co-insurance, according to a study published in the Journal of Health Economics.

 

The various types of insurance required in the average real estate transaction are even less understood, so let's take a look at them and get you up to speed.

 

 

Title Insurance



Title insurance comes in two varieties: a lender's policy and an owner's policy. If you take out a mortgage to purchase the home, your lender will require that you purchase a lender's policy. This protects the lender from anyone else who thinks he is the rightful owner or otherwise has a claim against the property.

Depending on where you live, you may also be required to purchase an owner's title insurance policy. In other areas, the purchase is voluntary.

The issuance of either policy is based on research of the property's title, or the "chain of title" as it is known. The examiner will look at public records, such as deeds, wills and trusts to ensure that the wording is proper and that the names on the documents are correct. She will look for outstanding mortgages, judgments and any liens against the property. She will check easements, look for pending legal action against the property and more.

Should the examiner find problems on the title, they will need to be remedied before the purchase can be completed.

Once the policy is in place, the lender (and you, if you purchase an owner's policy) is insured against unknown heirs coming forward claiming ownership, forged signatures on the deed, mistakes in the public records, and other hidden hazards.

 

 

Private mortgage insurance is something most homebuyers and homeowners would love to get rid of, but it's a necessary evil. Without it, many buyers would not be given a mortgage and thus not be able to purchase a home.

 

PMI is required of borrowers whose down payment is less than 20 percent. Because these borrowers are considered higher risk, the lender needs assurance that it will get its money should the borrower default on the loan.

 

Because the borrower pays the premium (typically added to the monthly mortgage payment), it seems that the lender is the only party that benefits. Keep in mind, however, that without PMI, lenders would demand a 20 percent down payment. Therefore, the cash-poor borrower reaps an enormous benefit.

 

The good news about PMI - at least for those with conventional loans - is that you can request a cancellation of the insurance once your loan balance reaches 80 percent of the original value of the home. Unfortunately, borrowers with an FHA-backed loan are locked into paying mortgage insurance premiums for the life of the loan, if they put less than 10 percent down. Borrowers who pay more than 10 percent, but less than 20 percent, can cancel the mortgage insurance in 11 years.

 

The best people to speak with if you have questions about any type of insurance required during the home-purchase process are your lawyer, your real estate agent and your insurance agent.

 

 

Wow! The Dothan MLS had a good October

October was good enough to bring us within in one sale of 2013 YTD. Hope the trend continues.

 

Market Comparison Report by Price
Dates: 10/01/2014 to 10/31/2014
  10/01/2013 to 10/31/2013
Property Types: Single Family
Areas: ALL

 

  Oct 1 - Oct 31, 2013 Oct 1 - Oct 31, 2014 Difference Percentage
Price Range Units Dollars Units Dollars Units Dollars Units Dollars
0 - 29999 4 65,892.00 5 81,500.00 1 15,608.00 25.00 23.69
30000 - 39999 6 211,915.00 3 107,151.00 -3 -104,764.00 -50.00 -49.44
40000 - 49999 2 93,200.00 8 349,026.00 6 255,826.00 300.00 274.49
50000 - 59999 5 271,674.00 3 159,500.00 -2 -112,174.00 -40.00 -41.29
60000 - 69999 4 263,500.00 3 194,500.00 -1 -69,000.00 -25.00 -26.19
70000 - 79999 2 147,000.00 4 294,900.00 2 147,900.00 100.00 100.61
80000 - 89999 3 245,000.00 6 503,500.00 3 258,500.00 100.00 105.51
90000 - 99999 2 185,500.00 4 378,500.00 2 193,000.00 100.00 104.04
100000 - 119999 6 653,280.00 8 868,170.00 2 214,890.00 33.33 32.89
120000 - 139999 11 1,418,576.00 8 1,036,800.00 -3 -381,776.00 -27.27 -26.91
140000 - 159999 10 1,469,152.00 16 2,405,650.00 6 936,498.00 60.00 63.74
160000 - 179999 8 1,344,869.00 8 1,337,300.00 0 -7,569.00 0.00 -0.56
180000 - 199999 2 369,900.00 5 953,800.00 3 583,900.00 150.00 157.85
200000 - 249999 9 1,976,523.00 10 2,221,885.00 1 245,362.00 11.11 12.41
250000 - 299999 7 1,807,000.00 9 2,429,806.00 2 622,806.00 28.57 34.47
300000 - 399999 7 2,419,183.00 6 2,098,400.00 -1 -320,783.00 -14.29 -13.26
400000 - 499999 3 1,255,500.00 2 852,000.00 -1 -403,500.00 -33.33 -32.14
500000 - 749999 0 0.00 2 1,175,180.00 2 1,175,180.00    
750000 - 999999 0 0.00 0 0.00 0 0.00    
1000000 - 1249999 0 0.00 0 0.00 0 0.00    
1250000 - 1499999 0 0.00 0 0.00 0 0.00    
1500000 - 1999999 0 0.00 0 0.00 0 0.00    
2000000 - 2999999 0 0.00 0 0.00 0 0.00    
3000000 - 99999999 0 0.00 0 0.00 0 0.00    
Totals: 91 14,197,664.00 110 17,447,568.00 19 3,249,904.00 20.88 22.89

 

 

Typically you will first pre-qualify for a mortgage, then get pre-approved before you purchase a home. What is the difference?

  * Pre-qualification: An informal determination by a lender or mortgage broker stating how much mortgage you can afford.

  * Pre-approval: A guarantee in writing by a lender to grant you a loan up to a specific amount.

Find all the homes listed with the Dothan MLS here.

 

September Numbers

Appears the final numbers for September are in. The Dothan MLS sold 18.10 less homes for 25.91 less dollars in September this year than we did in September last year.  I also checked to see how many homes are available for sale in the Dothan MLS and we currently have about almost 14 months of inventory available. Thinking about putting your home on the market? We tell more people your home is for sale. Find your homes value in todays market.

 

 

The chart below shows year to date home sales in the Dothan MLS compared to same period last year. With interest rates below four percent looks like a great time to buy. Currently we have 1187 homes available to choose from.

Market Comparison Report by Price
Dates: 01/01/2014 to 9/30/2014
  01/01/2013 to 9/30/2013
Property Types: Single Family
Areas: ALL

 

  Jan 1 - Sep 30, 2013 Jan 1 - Sep 30, 2014 Difference Percentage
Price Range Units Dollars Units Dollars Units Dollars Units Dollars
0 - 29999 43 864,189.00 46 850,366.00 3 -13,823.00 6.98 -1.60
30000 - 39999 45 1,515,843.00 28 951,849.00 -17 -563,994.00 -37.78 -37.21
40000 - 49999 36 1,594,776.00 29 1,267,120.00 -7 -327,656.00 -19.44 -20.55
50000 - 59999 30 1,656,863.00 33 1,805,665.00 3 148,802.00 10.00 8.98
60000 - 69999 26 1,694,150.00 31 1,989,249.00 5 295,099.00 19.23 17.42
70000 - 79999 31 2,335,642.00 32 2,408,476.00 1 72,834.00 3.23 3.12
80000 - 89999 29 2,485,550.00 38 3,240,495.00 9 754,945.00 31.03 30.37
90000 - 99999 26 2,467,665.00 42 3,999,189.00 16 1,531,524.00 61.54 62.06
100000 - 119999 84 9,224,501.00 76 8,382,444.00 -8 -842,057.00 -9.52 -9.13
120000 - 139999 94 12,202,607.00 90 11,607,780.00 -4 -594,827.00 -4.26 -4.87
140000 - 159999 88 13,189,000.00 71 10,694,325.00 -17 -2,494,675.00 -19.32 -18.91
160000 - 179999 68 11,522,426.00 64 10,863,253.00 -4 -659,173.00 -5.88 -5.72
180000 - 199999 38 7,165,600.00 40 7,533,203.00 2 367,603.00 5.26 5.13
200000 - 249999 78 17,225,325.00 69 15,587,159.00 -9 -1,638,166.00 -11.54 -9.51
250000 - 299999 50 13,498,412.00 65 17,454,776.00 15 3,956,364.00 30.00 29.31
300000 - 399999 38 13,015,459.00 28 9,598,314.00 -10 -3,417,145.00 -26.32 -26.25
400000 - 499999 13 5,635,400.00 12 5,291,729.00 -1 -343,671.00 -7.69 -6.10
500000 - 749999 9 5,273,000.00 9 5,114,750.00 0 -158,250.00 0.00 -3.00
750000 - 999999 2 1,619,000.00 0 0.00 -2 -1,619,000.00 -100.00 -100.00
1000000 - 1249999 0 0.00 0 0.00 0 0.00    
1250000 - 1499999 0 0.00 1 1,300,000.00 1 1,300,000.00    
1500000 - 1999999 0 0.00 0 0.00 0 0.00    
2000000 - 2999999 0 0.00 0 0.00 0 0.00    
3000000 - 99999999 0 0.00 0 0.00 0 0.00    
Totals: 828 124,185,408.00 804 119,940,142.00 -24 -4,245,266.00 -2.90 -3.42

 

 

I understand a seller renting out a home they own for the income. I can also understand why they rent them to assist with paying the mortgage. Most buyers are looking for a home to live in and are not looking for a home that will not be available for months. I would recommend if the seller wants to rent their home and keep it on the market for sale they rent to the tenant on a month to month basis. Sure this does not provide the security for either party. It does however keep the home available for sale. This month I have found a home for four different buyer's they would have liked to make an offer on. They would not because the homes were under lease for several months.

Dothan MLS homes sold July, 2014

The chart below is a comparison of the homes sold in the Dothan MLS by price for the month of July. Thankfully we sold a few more than last year for the month. YTD we are slightly behind production for last year.

 

Market Comparison Report by Price
Dates: 7/01/2014 to 7/31/2014
  7/01/2013 to 7/31/2013
Property Types: Single Family
Areas: ALL

 

  Jul 1 - Jul 31, 2013 Jul 1 - Jul 31, 2014 Difference Percentage
Price Range Units Dollars Units Dollars Units Dollars Units Dollars
0 - 29999 8 170,080.00 8 137,770.00 0 -32,310.00 0.00 -19.00
30000 - 39999 5 170,850.00 1 30,000.00 -4 -140,850.00 -80.00 -82.44
40000 - 49999 1 44,550.00 4 184,900.00 3 140,350.00 300.00 315.04
50000 - 59999 2 106,000.00 4 212,000.00 2 106,000.00 100.00 100.00
60000 - 69999 2 130,000.00 2 128,600.00 0 -1,400.00 0.00 -1.08
70000 - 79999 5 379,900.00 3 228,900.00 -2 -151,000.00 -40.00 -39.75
80000 - 89999 3 262,900.00 4 332,500.00 1 69,600.00 33.33 26.47
90000 - 99999 3 290,900.00 3 294,400.00 0 3,500.00 0.00 1.20
100000 - 119999 8 855,500.00 8 861,000.00 0 5,500.00 0.00 0.64
120000 - 139999 17 2,260,800.00 13 1,677,700.00 -4 -583,100.00 -23.53 -25.79
140000 - 159999 10 1,504,900.00 11 1,650,000.00 1 145,100.00 10.00 9.64
160000 - 179999 10 1,676,100.00 16 2,722,400.00 6 1,046,300.00 60.00 62.42
180000 - 199999 3 575,400.00 5 945,900.00 2 370,500.00 66.67 64.39
200000 - 249999 9 1,973,900.00 10 2,273,769.00 1 299,869.00 11.11 15.19
250000 - 299999 7 1,910,500.00 10 2,630,619.00 3 720,119.00 42.86 37.69
300000 - 399999 4 1,495,474.00 2 704,400.00 -2 -791,074.00 -50.00 -52.90
400000 - 499999 3 1,279,500.00 0 0.00 -3 -1,279,500.00 -100.00 -100.00
500000 - 749999 0 0.00 0 0.00 0 0.00    
750000 - 999999 0 0.00 0 0.00 0 0.00    
1000000 - 1249999 0 0.00 0 0.00 0 0.00    
1250000 - 1499999 0 0.00 0 0.00 0 0.00    
1500000 - 1999999 0 0.00 0 0.00 0 0.00    
2000000 - 2999999 0 0.00 0 0.00 0 0.00    
3000000 - 99999999 0 0.00 0 0.00 0 0.00    
Totals: 100 15,087,254.00 104 15,014,858.00 4 -72,396.00 4.00 -0.48

Your Credit Report affects your ability to get a home loan.

Your credit score is a grade for your credit history. The score is driven by your credit report. When buying a home the underwriter reviews your credit report to determine are you credit worthy. Your credit history is compiled into your credit report.

Borrowers who have made payments on previous and current obligations in a timely manner represent a reduced risk. On the other hand, if you have been irresponsible and have continuous slow payments, judgments, delinquent accounts, etc. on your report you will most likely need to clean up your credit report to obtain a home loan.

Your credit report is similar to a crystal ball for the loan officer.

Some banks are lowering FICO score requirements

Daily Real Estate News announced some banks are lowering the FICO score requirements. One bank is approving loans for scores of down to 550. If you have tried to buy a home and could not get a loan due to your credit score it might be time to try again.

 

Thinking about buying a Dothan area home and need a loan. Below are things needed when applying for a loan.

  1. Addresses- Landlord's name & addresses or lender & loan number for past two years.
  2. Name, address& phone numbers for each employer-past two years
  3. Gross monthly salary, YTD pay stub& past two years W2's.
  4. Check & saving, retirement accounts-last two month statements
  5. Debt- Name, address, account numbers, balance & monthly payments on all outstanding loans & credit cards
  6. Loan information, market value, & addresses on all real estate owned; copy of leases if rental properties
  7. If self employed- tax returns for past two years. (Signed all schedules)
  8. If commission, interest, or bonus income received- tax returns for past two years
  9. Completed signed sales contract
  10. Up front fee for appraisal, credit report, and flood certification
  11. Veterans- DD 214& Certification of eligibility
  12. FHA- Picture ID & Social Security Card

 

Fannie Mae is offering cash incentives

Fannie Mae has a large inventory of foreclosed homes they want to reduce. To help move them through the system Fannie is offering cash incentives toward closing of 3.5% of purchase price. This offer is available as follows:

During the First Look period(first twenty days after listing).

Initial offer must be submitted no later than March 31, 2014.

Close by May 31, 2014.

Bids must indicate up front the buyer wants to be considered for a closing cost discount.

Available to owner occupants only.

Buyer must commit to live in the home as their primary residence for at least a year.

Buyer must be able to qualify for mortgage financing.

Shop for financing just like you would for any other home. You will need a preapproval letter.

Call Bobby 334-701-1102 with questions.

 

FHA Trims Waiting Period

For case numbers assigned after August 15, 2013 and effective through September 30,2016  FHA may be more lenient with borrowers who went through a bankruptcy, foreclosure, deed-in-liey, or short sale.

There are some qualification requirements including why the event occurred and credit history since the event.

Criteria for satisfactory credit history includes twelve months of good payment historyon payments such as a mortgage, rent, or credit account.

You may can purchase a home sooner than you thought. Check with your mortgage advisor. One of our partners is Lisa Shockey with Interlinc Mortgage. 

Stone Creek Landing

Stone Creek Landing is a unique subdivision for the Dothan area. Residents own the interior of their home. The exterior and the building itself is owned by the homeowners association. HOA dues vary around $160 a month and includes homeowners insurance. Common areas include a clubhouse, walking trails, swimming pool, and fish ponds. Lawn maintenance, common areas, and the home exteriors are maintained by the home owners association. There are some single family homes with mostly quadraplexes. You never know your neighbors are there.

The subdivision is fenced. If you are looking for a home with no maintenance where you can live full time or feel your home is being looked after while you are away Stone Creek Landing will be a great place to call home.

View the Homes Available in Stone Creek Landing.

 

Dothan Real Estate Northside Subdivision

Northside Subdivision or Emerald Lake Subdivision as it is most commonly referred to , was established in 1968. The natural spring fed lake is a haven for geese, turtles, red birds, chipmunks, and several species of fish. The lake was donated to the City of Dothan by the residents of Northside for maintenance purposes. The neighborhood most recently placed benches aroud the perimeter of the lake to enhance the beauty of the lake.
The neighborhood holds annual hotdog suppers, bake sales, Christmas open house, and other activities throughout the year such as Halloween parties for the residents. This is all sponsored by the neighborhood “Garden Club”, not a HOA. Membership is not required, but the benefits of being a member are wonderful.
The residents of Northside are friendly and take pride in their home, yard, and neighborhood. “Yard of the Month” contest are held each month for the prettiest yard. There is also a Christmas lighting contest held annually.
Northside subdivision is a hidden treasure in Dothan. Located on the north side of Ross Clark Circle, shopping and dining is very convenient. Wiregrass Commons Mall and the U S Postal Service are well within walking distance.

Very few homes are for sale in Northside subdivision. Check out the Homes available in Northside subdivision.

 

Dothan Real Estate Grove Park

Grove Park's treelined streets with sidewalks, large play areas, convenience to everything, charming front porches, and friendly neighbors have made Grove Park Dothan's most popular subdivision. Grove Park is of three parts. The original Grove Park is mostly cement fiberboard siding, Grove Park Township is mostly painted brick, the third part is Longleaf Green. Grove Park Township has new construction still in progress. You can find pre loved or brand new homes. Check out the homes available Grove Park Homes For Sale">Grove Park Homes For Sale.

Price your home correctly

Pricing your home correctly when listing makes you money in most cases. The market determines the value of your home. Your agent should be showing you comparable sales to help you determine list price. The closer you can set the list price to actual sale price the quicker the home will sale and the more money it will sell for in most cases.

I ran the numbers for homes sold in Grove Park the past twelve months just to see if there was a price difference in those homes sold without having a price change and those that sold after one or more price changes. I did not include any new construction.

Results show;

Homes sold without a price change sold in an average of 92 days for an average price per square foot of $107.68 at 94.67% of original list price.

Homes sold after at least one price change averaged 220 days for an average price per square foot of $102.14 at 91% of the original list price.

Pricing the home too high when listing stretched the sale time by an average of 4 months and cost the seller an avarage of about $10,000 more than had they priced the home correctly up front. To find the value of your home for free visit HouseValues.com and complete the requested information.

 

Banks or their representative cost them money.

Closed on a home today for seven thousand less than another couple offered back in July. The couple who made the first offer had their offer contingent upon their satisfaction with the home inspection. The inspector found way too many issues. The couple still wanted the home but not at the agreed price. We asked for a reduction and the bank refused. Here we are six months later and they sold the home to another couple for seven thousand less than the first couple would have paid would the bank have worked with them.

 

Dothan Area Homes For sale

We kicked off 2013 with 1210 single family homes available in the Dothan MLS. Back a few months ago we exceeded 1350. This is a good trend although it would be better if those homes had actually sold. Some expired and some were withdrawn.

Still early to report the sales for 2012. We will post the numbers about the latter part of next week. Looking at the numbers available we will be well below the sales for 2011.

Healthy inventory is 500 to 600 homes. This amount of inventory will provide a good selection for buyers and rotate inventory quickly.

Call/text 334-701-1102 with questions about real estate. We are here to assist.

 

Our Goal

Our goal will be to educate you the consumer whether buying or selling real estate in the Dothan area. We will cover a lot of factors in the process of buying and selling real estate. Along with real estate we will often have local events and news about happenings in the Dothan area.

We are here to assist. Please share questions you may have via email at bobby@DothanRealEstate.us or call/text us at 334-701-1102. Any questions you have someone else also has. We will try to answer here.

We plan to cover a lot of ground. Feel free to tag along. We love company.

Thanks,

Bobby

Bobby Dean , Berkshire Hathaway HS Showcase Properties

Bobby Dean

Bobby Cell: 334-701-1102
Bobby Cell: 334-701-1102

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