Real Estate Appraisers and local REALTORS talk about “Kings Mill.”

WEB-BlogPhoto-KingsMillSubd-2009 [12]The Kings Mill subdivision is located along the western side of WEB-BlogPhoto-KingsMillSubd-2009 [05]Knollwood Road, south of Cottage Hill Road, the western part of Mobile, Alabama.

The Kings Mill development has 39 homes, built between 1998 and 2004, with most having 1,850+- square feet to 2WEB-BlogPhoto-KingsMillSubd-2009 [03],700+- square feet of living area. The majority of homes have 3 bedrooms and 2 or 2 1/2 bathrooms. There are about nine homes having 4 bedrooms. The home values will mostly range between $275,000 and $300,000.

Albert Cheney, Cheney Appraisal Services, covers the Mobile Bay Metro Area, Baldwin County and Mobile County of Alabama. Albert Cheney is an active Certified Residential Real Property Appraiser and FHA Approved Appraiser with 35+ years experience in the real estate industry. Call Albert Cheney at (251) 533-2424 or Albert@CheneyAppraisalServices.com if you require more information about Alabama real estate and ordering a “Certified” real estate appraisal report.

Are You Looking For “Certified FHA” Residential Appraisers?

Are You Looking For “Certified FHA” Residential Appraisers Covering The City Of Mobile, Baldwin County And Mobile County Of Alabama?  Then, Al Cheney, Certified Residential Real Property Appraiser, is ready to assist you with all of your real estate appraisal requirements along the Gulf Coast of Alabama!

Are you looking for ”Certified FHA” Home Appraisers in Baldwin County and Mobile County of Alabama?

Then, again, look no further than Al Cheney, Cheney Appraisal Services, for “Certified FHA” Residential Appraisals along the Gulf Coast of Alabama.

Al Cheney completes appraisal reports in the city of Mobile as well as Daphne, Fairhope, Montrose, Mullet Point, Point Clear, Spanish Fort (the Eastern Shore), Bay Minette, Chunchula, Creola, Dauphin Island, Loxley, Robertsdale, Saraland, Satsuma, Silverhill, and other communities within “The Mobile Bay Metro Area.”

Al Cheney, License Number ALR00060, is an Alabama “Certified” Residential Real Property Appraiser for the State of Alabama and a FHA Approved Appraiser with over 30 years experience in the local real estate industry.

Are you an owner looking to sell your home in the Mobile, Alabama area?  Cheney Appraisal Services offers only a $225 full appraisal report fee within the city limits of Mobile and a $250 fee for all other areas within Baldwin County and Mobile County.

Are you an appraisal management company or lender requiring a “Certified FHA” appraisal report for a client’s loan?  Cheney Appraisal Services offers special pricing for each “Certified” appraisal report.  Please call 1-251-533-2424 and let’s discuss arrangements.

Al Cheney will give you a specially designed and targeted appraisal report with a derived value opinion estimate, value range estimate, and or other necessary marketing information to assist you with your appraisal report requirements.  Order your ”Certified,” specialized, and professional appraisal report today.  Call Al Cheney and let’s talk about your appraisal assignment!

Please also visit Al Cheney’s other growing websites over the coming months and years to come, http://www.CertifiedAppraiserNames.com/http://www.RealtyLeaders.biz/, http://www.MobileAlabamaFHARealEstateAppraisers.com/, and http://www.RealtyAgentPros.com/.

Are you ready to order your city of Mobile, Alabama, Baldwin County or Mobile County appraisal assignment?  Then, please send appraisal assignments by email to Albert@CheneyAppraisalServices.com or AlbertCheney@Comcast.net with your assignment (attaching an order as pdf is recommended) and any comments, suggestions and questions!  If you need to facsimile the appraisal assignment, then use 1-251-252-7737 for sending appraisal orders.

  The mailing addresses for Cheney Appraisal Services are Post Office Box 7907, Spanish Fort, Alabama 36577-7907 or Post Office Box 8888, Mobile, Alabama 36689-0888.

Are the Economists Sure the Recession is Over?

If you watch the financial news, you are aware that a whole bunch of economists, many of whom have a Pd.D. in that academic discipline, have determined that not only has the recession hit bottom, but that the general economy is in a recovery mode. Without going into the details of this prognostication on their part, the problem is that they do not understand the difference between Wall Street and Main Street.

If you look solely at Wall Street, a rarified atmosphere composed of a few large players if there ever was one, there is reason to be optimistic. The Dow is up over 25% since March of this year. With the realtively lower unemployment figures that came out recently, Wall Street celebrated and went up even more. The major banks are back to their old business models and using them to make a lot of money trading stocks, bonds, derivatives, and so forth. So if you got into the market early this year, you are likely ahead of the game right now. Good for you, but you know full well that is more dumb luck than anything else.

Despite this, we also know that Main Street is bigger than Wall Street and a lot more people live and work on it than on Wall Street. So what does Main Street tell us about the state of the economy? First go here, http://latimesblogs.latimes.com/money_co/2009/08/although-everyone-knows-that-the-us-is-borrowing-and-spending-at-an-unprecedented-pace-the-numbers-are-all-the-more-stun.html and read about our national deficit. What you’ll get is the Monthly Treasury Statement of Receipts and Outlays of the United States Government For Fiscal Year 2009 Through July 31, 2009, and Other Periods. It tells you that (1) the federal budget deficit, in the first 10 months of the government’s fiscal year, increased 227% from the same time in the previous year to $1.27 trillion (that’s $127,000,000,000,000). Further, the government spent $3.01 trillion (yes, that’s trillion with a “T”) to-date this fiscal year, or an increase of $524 billion.

Now here is the really crippling part. Because of the effects of the recession, tax and other income sources have decreased by $1.74 trillion or 17% from the same period in the last fiscal year. This decrease is in the areas of personal income tax, corporate income tax, and income from the investments the federal government has.

Now, clearly, the government has to spend money. We want a military that is ready and prepared to defend us, we want interstate freeways to get us from place A to place B. We want an intelligence apparatus to protect us from the crazies there are in the world.

But where is it going to stop? Main Street pays for most of this, not Wall Street. Main Street knows that if $10 comes in, $20 can’t go out (at least not for very long, anyway). We’ve all been in the position when we had to borrow money to survive. But for some stupid reason, those who lent us the money want us to pay it back. That’s how Main Street works. Cannot Washington fathom that simplicity?

Those economists tell us that we can monitize this debt, and that we owe it to ourselves, so debt this eneffably huge is really not a problem. Yet we on Main Street know this is not true. To servive this recession most of us have dipped into our savings, retirement, or investments. Yes, that was our own money, so we owe it to ourselves. Yet, unless we have enough of a surplus to pay it back, we cannot. The key here is surplus. The federal government has no surplus! It has a $trillion-plus debt (and it grows daily!)

The government monitizes debt by printing money to use to pay for it. Main Street cannot print its own money (legally, anyway). When the government merely prints money to pay its debt, it debases its currency – in, other words, makes it worth less. That also drives up interest rates since lenders want more vigorish for the money they loan if, when it is paid back, it is worth less.

Now, in light of all this debt, how are we even to consider a massive health care system that, in essence, is socialized medicine? We cannot pay the debts we have now, how can we add another $1 trillion to $2 trillion to it over the next 10-15 years? We all know Social Security is broke. We all know that, given the drop in the US birthrate over the last 25-years, there are not enough workers in the system to provide the tax income to support even social security. much less socialized medicine.

So, is the recession over? If the economists say it is, then it must be. But look at the seeds we ourselves have planted for the next one!

Are You Wanting To Live Near Fairhope, Alabama? Appraisers In The Fairhope Area Say, Look At “Stone Creek” As A Possible Place To Live!

The Stone Creek Subdivision is located along the east side of Alabama State Highway 181, approximately 2 miles south of Fairhope Avenue, and about 4 miles East Southeast from the town center of historical Fairhope, Alabama.

Stone Creek, Phase 1, Subdivision was developed on around 330 acres, formerly a hunting preserve. This first phase has 78 lots per record with about 18 common area & green belt parcels.The developer’s concept is a village community with a lodge, rock water features, stocked lakes, swimming pool, tennis courts, village shopping center, walking trails and a wetland preserve.

The majority of the homes will range from 2,400+- square feet to 4,500+- square feet with primarily four bedrooms and three to four bathrooms. There are only a couple of homes having three bedrooms and one home having six bedrooms according to the online records.

The Average List Price is around $443,462 for the month of October 2009, down $54,624+- when compared to July 2009 having an Average List Price of $498,086. 

The Average Sale Price is around $485,583 for the month of October 2009, down only $1,384+- when compared to July 2009 having an Average Sale Price of $486,967.

The Listing Price To Sales Price Ratio is now approximately 90.986% for the month of October 2009.  The month of July 2009 the ratio was 98.02%.

The REALTOR online records indicates the Lowest Price Listing is now $381,500 for the month of October 2009 (July 2009 was $369,900.).  The Highest Price Listing is now $573,500 (July 2009 was $795,000.).

The Stone Creek Months Of Housing Supply calculates to be around 11.94 months for the list to sale time period.  Although, Stone Creek appears to have more stable property values when reviewing the calculated inventory analysis for the subdivision.

The above information was obtained from the Baldwin County Association of REALTORS, Albert M. Cheney, Certified & Approved FHA Appraiser, (251) 533-2424, is an associate member of this REALTORS’ organization. (Appraisers Daphne, Fairhope, Spanish Fort, Alabama)

“Mobile County, Alabama 3rd Quarter Real Estate Activity Statistics,” Provided By Al Cheney, Certified Residential Real Property Appraiser & FHA Appraiser Covering Baldwin County and Mobile County of Alabama.

The third quarter, 1st July 2009 to 30th September 2009, indicates at least 984 sales within Mobile County, Alabama according to online REALTOR information records.  The 984 sales include condominiums & townhouses, manufactured homes, new construction homes and single family older homes.

 

The approximate 27 condominiums & townhouses had an average sale price of $162,727.  The approximate 18 manufactured homes had an average sale price of $40,503.   The approximate 131 new construction homes had an average sale price of $182,797.  The approximate 808 single family older homes had an average sale price of $137,420.

 

The average days on market (dom) for the third quarter was around 81 days and the average sale price per square foot was $77.33+-. 

 

The third quarter indicates more new construction in west Mobile, south of the Mobile Regional Airport, and in Semmes, Alabama when compared to other areas of Mobile County.  Most of the single family residential or home sales occurred in the areas north and south of Cottage Hill Road, west Mobile, Semmes and in the Midtown area near downtown historic Mobile, Alabama.

 

The average sold terms for the third quarter was CASH (24.9%), CONVENTIONAL (24.83%), FHA (41.07%), VA (6.17%) and OTHER-ASSUMPTION, AUCTION, VENDOR LIENS (3.03%).

“SETTLING ESTATES HAVING REAL PROPERTY IN BALDWIN & MOBILE COUNTIES OF ALABAMA AND THE IMPORTANCE OF APPRAISAL REPORTS!”

To quote an old saying, “You can’t take it with you!” Since this fact is true, a person should always consider having a Will, a Last Will and Testament, in order to lessen the complications in settling the estate for their bereaving family.

A person’s death has an affect on their family emotionally and financially as well as with any unforeseen future personal or legal issues when settling the estate. Having a Will allows the decedent, deceased person, to efficiently outline their wishes in detail and properly distributes the estate, personal property and any real property owned, at the time of their death.

Therefore, settling an estate efficiently is important and, in some cases, can be very stressful depending on its complexity and the number of heirs. As an executor, or personal representative, you have been entrusted in carrying out the decedent’s wishes as exactly outlined within the Will and as quickly as possible.

When it comes to settling an estate with real property, Al Cheney, Cheney Appraisal Services, can provide a “Certified,” detailed and timely appraisal opinion report while, at the same time, understanding the family’s bereavement and any sensitive issues associated with the decedent’s Will.

As for accountants and attorneys, they can rely on Al Cheney’s knowledge, over 30 years, in the real estate industry of the Mobile Bay Metro Area. Al Cheney always has a primary goal of providing detailed estate appraisal reports with reliable and supported derived value opinion conclusions (Fair Market Value estimates). As an Alabama Certified Residential Real Property Appraiser, Al Cheney, provides professional appraisal opinion reports which gives accountants, attorneys, and personal representatives solid facts and figures, in order to fulfill IRS and the State of Alabama requirements as well as the courts within Baldwin or Mobile County and any other local agencies.

Additionally, the date of death often differs from the date of the requested appraisal assignment. Al Cheney is familiar with the procedures and requirements necessary to perform a retroactive appraisal assignment with an effective date and a Fair Market Value opinion estimate as of the date of death. Furthermore, contracting an appraisal assignment with Al Cheney is a fiduciary relationship ensuring the fullest degree of discretion, confidentiality binding, as outlined within the Uniform Standards of Professional Appraisal Practice (USPAP) under the ethics provision.

In conclusion, many times, people do not fully appreciate their need in having detailed real estate appraisal opinion reports which supports the facts and figures. Settling an estate efficiently, properly and timely are paramount when completing and submitting the necessary documents, including all real property appraisal reports, to the IRS, Baldwin or Mobile County courts, and other revenue authorities. Having “Certified,” detailed and professional appraisal opinion reports with supporting local marketplace information demonstrates credence and should facilitate the legal process when settling estates. Al Cheney, Cheney Appraisal Services, is ready to assist accountants, attorneys and individuals requiring estate appraisal value opinion reports!

________________________________________
Albert Marshall Cheney, Cheney Appraisal Services, Mobile, Alabama, is ready to assist you with all your estate appraisal report requirements! Call (251) 533-2424 today!

If you require additional estate research material, Al Cheney has provided these web links for further consideration:

http://www.alabamaprobatelawyers.com/news.cfm/Article/19691/You-Cant-Take-It-With-You.html
http://www.expertlaw.com/forums/archive/index.php/f-38.html
http://law.onecle.com/alabama/wills-and-decedents-estates/chapter2.html
http://www.legislature.state.al.us/CodeofAlabama/1975/coatoc.htm

License Transfer to Florida?

I am looking for some advice as far as tranfering my appraisal cert. to Florida from Wisconsin.  Has anyone done it? If so, would you be willing to pass on any tips or advice. I am just starting the process and hope to be down in Florida by next year. Any advice would be appreciated. Thanks.Corey

Certified And FHA Appraisers Want You To Know About The Baldwin County Home Builders Association’s 20th Annual Parade Of Homes!

The 2009 Parade of Homes will take place September 19, 20 and September 26, 27.  Homes will be open to the public from 10 a.m. to 5 p.m.  An optional $2 donation can be made at the Showcase Homes to benefit local housing charities.  Admission to all other homes is free.

There are 41 homes within the 2009 Parade of Homes.  These homes are located in the following Baldwin County towns and subdivisions: 

Arbor Ridge, Lillian, Alabama 36549

Arlington Farms, Fairhope, Alabama 36532

Ashford Park, Foley, Alabama 36535

Aspen Creek, Foley, Alabama 36535

Austin Park, Daphne, Alabama 36526

Avalon, Daphne, Alabama 36526

Beau Chene Estates, Loxley, Alabama

Bellaton, Daphne, Alabama 36526

Cambridge Park (Phase II), Foley, Alabama 36526

Edington Place, Fairhope, Alabama 36532

Fairfield Pointe, Fairhope, Alabama 36532

Fruit & Nut District, Fairhope, Alabama 36532

Greythorne Estates, Fairhope, Alabama 36532

Huntington Woods, Fairhope, Alabama 36532

Idlewild, Fairhope, Alabama 36532

Landsdown, Daphne, Alabama 36526

Madison Place, Daphne, Alabama 36526

Meadow Run Estates, Gulf Shores, Alabama 36542

The Meadows At Point Clear, Fairhope, Alabama 36532

Oldfield, Fairhope, Alabama 36532

Ottawa Springs, Daphne, Alabama 36532

Palmer Place, Robertsdale, Alabama 36567

Parish Lakes, Gulf Shores, Alabama 36542

Pebble Creek, Gulf Shores, Alabama 36542

The Peninsula Golf & Racquet, Gulf Shores, Alabama 36542

Quail Creek Estates, Fairhope, Alabama 36532

Rolling Meadows, Daphne, Alabama 36526

Sandy Ford, Fairhope, Alabama 36532

Sehoy (Phase IV), Daphne, Alabama 36526

Shadyfield Estates, Summerdale, Alabama 36580

Sonora Place, Foley, Alabama 36535

Stone Creek, Fairhope, Alabama 36532

The Waters At Fairhope, Fairhope, Alabama 36532

Whisper Woods, Spanish Fort, Alabama 36527

Wolf’s Run South, Elberta, Alabama 36530

 

 

BUILDERS AND CONTACT INFORMATION

 

 

Builder

Contact

Telephone

Achee Properties

Pat Achee

251-928-1960

Adams Homes

Mary Lou Baker

251-625-0601

Aiken Design & Construction, Inc.

Tom Aiken

251-928-6321

Benchmark Homes, Inc.

Lance Toifel

251-473-8600

D.R. Horton

Kent Gibson

251-543-7220

Dan Mooney Custom Homes

Dan Mooney

251-625-1976

David Stapleton Builders, Inc.

David Stapleton

251-626-8139

Fairhope Custom Homes, LLC

Jeremy Friedman

251-463-1899

Gooden Homes

Lydia Edwards

850-476-6764

GRW Company, Inc.

Gary Woodham

251-421-2905

Hamilton Brother Builders, LLC

Paul Hamilton

251-680-6671

John Eckenstaler Builders, Inc.

John Eckenstaler

251-623-0825

Lippincott & Lemongrass Design & Construction

Chad Lippincott/Delia Pierce

251-929-1227

McElmurry Homes, Inc.

Mike McElmurry

251-990-9798

McLaughlin Builders, Inc.

Mike McLaughlin

251-990-3525

Milestone Homes

Donald Long

251-404-1801

MTB Custom Builders, Inc.

Todd Boothe

251-753-2217

New Haven Homes, LLC

Christian Augustin

251-379-0657

Paracel Custom Homes

Jeff Godfrey

251-979-5144

     

Pickering Builders, Inc.

Jimmy Pickering

251-605-9910

Prestige Development, Inc.

Cain Roberds

251-928-8756

     
     

Stone Creek Development, LLC

Rance Reehl

251-990-6622

     

Trite Builders, LLC

Brian Wright

251-379-4889

Waller Builders, Inc.

Christie Waller

251-510-0647

Baldwin County Home Builders Association

916 Plantation Blvd.
Fairhope, Alabama 36532

Phone: (251) 928-9927
Fax: (251) 928-9929

 

For an Approved FHA Appraiser and Certified Residential

Real Property Appraiser, contact Albert Marshall Cheney with

Cheney Appraisal Services, 251-533-2424 (Business/Mobile),

Albert@CheneyAppraisalServices.com (Email), or go to web links,

http://www.CheneyAppraisalServices.com and

http://www.MobileAlabamaFHARealEstateAppraisers.com

for much more information.

Comparables Sales as an Appraisal?

These are lean times for many appraisers. Many of us have looked at alternative ways to bundle and market our professional services. Some appraisers have been selling comparable sales data to clients. It seemed like a good way to use data more than once, thus leverage it, thus make it into a profit center.

Here’s what happened: The “client” would call the appraiser asking for comparable sales data. The client might or might not specify the subject property, but did indicate its bedroom and bathroom count, its size, its age, etc. The appraiser would then amass com parables fitting the parameters of the “client’s” request but not analyze the data, nor form a value opinion based on it. The “client”, then, drew its own value conclusions and the appraiser was able to make a few bucks but without doing an appraisal. Note this practice was not widespread, but it was a way some appraisers were able to sell their services providing something else other than an appraisal.

Clearly, however, many appraisers were uncomfortable with this. They were sufficiently uncomfortable with it that they felt compelled to ask The Appraisal Foundation (TAF) if this scenario of providing data (but no analysis or value opinion) was proper under USPAP. The answer to their question is on the August 2009 TAF Q&A. So as not to take anything out of context, I have included the entire quote. Note the first bullet-point:

“Question:
If an appraiser is bound by USPAP for a particular assignment, when must the appraiser comply with the USPAP appraisal reporting requirements?

“Response:
Whenever a value opinion is communicated, compliance with USPAP’s appraisal reporting requirements is required.It may seem obvious in many cases that an appraiser must abide by the appraisal reporting requirements. However, in other cases it is not as obvious, such as the following examples (I have emphasized the answer; it was not in bold in the publication):

“Selecting and providing a client with comparable sales for a known property is an appraisal assignment as defined by USPAP.
Informing a property owner that their property tax assessment is too high is an appraisal report as defined in USPAP
Providing an opinion of market rent is an appraisal report as defined in USPAP.”

Therefore it appears that if a “client” were to ask an appraiser for a list of comparable sales in a specific neighborhood (but nothing more), the appraiser could provide these data, yet that would not qualify as an appraisal. However, if the “client” were to specify either the subject property or the property type in that neighborhood, TAF would consider compliance with this request to be an appraisal. Therefore, in carrying out an assignment such as this, the appraiser would need to comply with Standards ONE and TWO of USPAP.

Note that TAF has no authority to enforce appraisal law; that is the exclusive province of the individual states. However, now that this decision & interpretation has come down from TAF, it is reasonable to conclude that TAF will expect the states to enforce it.

What lesson can we learn from all of this? Perhaps it is to stay current with the Q&As TAF publishes so we do not find ourselves on the wrong end of a subpoena from the state.

(Go to http://www.appraisalfoundation.org/ to see the entire document).

Daphne Alabama Certified FHA Real Estate Appraisers Report On “The Woodlands At Malbis”

“The Woodlands At Malbis” is located along the east side of Alabama State Highway 181, a few miles south of U. S. Interstate Highway 10 and also south of U. S. Highway 90.  The Malbis Regional Shopping Center is located on the northern side of U. S. Highway 10 and only minutes from this subdivision.

The Woodlands At Malbis House 1“The Woodlands of Malbis” has 35 lots and eight common area parcels according to online records.  This subdivision is described as “a fantastic tree-lined upscale neighborhood with lakes and estate-sized lots.”  

The Baldwin County Association of REALTORS’ online records indicate 4 active listings ranging from $494,900 to $1,900,000 with 3,258 to 5,740 square feet and 9 past sold properties selling between $550,000 and $840,000 with 4,296 to 4,939 square feet .

For further information, contact Barbara S. Reeves at 251-510-0629, 251-621-2588 or toll free direct by calling 888-489-8001.

woodlands malbisFor more information about Certified Residential Real Property Appraisers and Approved FHA Appraisers, contact Albert Marshall Cheney with Cheney Appraisal Services at 251-533-2424.  Albert Cheney covers Daphne, Fairhope, Loxley, Malbis, Montrose, Point Clear, Robertsdale, Spanish Fort and many other communities and towns within Baldwin County, Alabama.  Al Cheney suggests clicking onto these web site links, http://www.CheneyAppraisalServices.com & http://www.MobileAlabamaFHARealEstateAppraisers.com for much more information!

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