According to a report from the University of South Alabama Center for Real Estate Studies –

The number of sales increased between March and April from 298 to 303 while the average sale price increased from $144,396 to $150,824. The average days on the market increased by 4 to 89.The highest volume of sales remains in the 0-$99,000 bracket with 85. The volume of sales in the $200.000-$300,000 range showed the largest gain of 17 rising from 33 to 50. Further, the median sale price increased by $9,500 to $134,000. The Mobile market showed signs of improvement even through almost all categories are performing at levels lower than April, 2008.

The highest volume of sales was in the $100,000-$149,000 price range followed by the $99,999 and under bracket. Only four properties over $.5 million sold which is the same volume as April. Properties priced at $150,000 and under are 59.8 percent of the current single-family market. Properties priced under $200,000 make up 77.8 percent of all sales.

The U.S. average sales price increased from $210,500 to $211,300, the median increased also from $168,200 to $169,900, and the number of sales increased 27.5 percent. Further, the available inventory declined slightly to 9.6 months. Although these numbers slow improvements from February to March, they are still below the levels for March, 2008.

A historical panel meets next week to discuss moving the Middle Bay Lighthouse some 15 miles to Battleship Memorial Park, restoring it and putting it on permanent display.

The 124-year-old, storm-lashed lighthouse still stands in Mobile Bay a year after the Alabama Lighthouse Association called for moving it onshore. The familiar landmark could be restored on dry land if the Alabama Historical Commission approves the move. It meets on Tuesday. For more, see Panel to discuss moving Middle Bay Lighthouse - WLOX-TV and WLOX ...

The metro area encompassing east and south Baldwin County could be among the fastest-growing spots in the nation in the years ahead, with the population booming to 232,985 by 2025, according to projections published this month by Bizjournals.

That’s an increase of 43.7 percent, one of the stronger rates among 250 areas ranked by Bizjournals, the online division of American City Business Journals, which has 41 publications.

The Mobile metro area, meanwhile, was listed among the slow growers, climbing in population by just 2.24 percent.

“Projections are just projections, of course,” said Daphne Councilman Ron Scott. “But it’s true that this area has a lot going for it in the long haul. People have been trying to come the to Eastern Shore forever, and that’s not going to change soon.”

G. Scott Thomas of Bizjournals, the reporter who compiled the data, said his population forecasts were made using U.S. Census Bureau data and estimates reported from 2000 to 2008. For the full story see Bizjournals predicts Eastern Shore growth – al.com.

From Al.com,

Forbes magazine named Mobile as one of the “Best Cities in America for Recession Recovery” this week.

The rankings cite the projected gross domestic product of metropolitan areas across the U.S., unemployment figures, home prices, incomes and affordability data.

Forbes notes that having diverse industries, like Mobile’s aerospace, maritime, health care and hospitality, were reasons for an anticipated quick recovery.

According to a report in Business Week the number of U.S. homebuyers who agreed to purchase a previously occupied home in April posted the largest monthly jump in nearly eight years, a sign that sales are finally coming to life after a long and painful slump.

The National Association of Realtors said Tuesday its seasonally adjusted index of sales contracts signed in April surged 6.7 percent to 90.3, far exceeding analysts’ forecasts. It was the biggest monthly jump since October 2001, when pending sales rose 9.2 percent.

Economists were encouraged by the report, and stock indexes advanced modestly.

“This is yet another positive indication that the bottoming process is forming,” Jennifer Lee, an economist at BMO Capital Markets, wrote in a note to clients. “Now if only prices would stabilize.”

The Realtors’ index was 3.2 percent above last year’s levels and has risen for three straight months after hitting a record low in January. A nearly 33 percent sales increase in the Northeast and a 9.8 percent jump in the Midwest led the overall surge. Sales contracts rose 1.8 percent in April from a month earlier in the West, but fell 0.2 percent in the South.

The big boost likely reflects the impact of a new $8,000 tax credit for first-time homebuyers that was included in the economic stimulus bill signed by President Barack Obama in February. Since buyers need to finish their purchases by Nov. 30 to claim the credit, “we expect greater activity in the months ahead,” Lawrence Yun, the Realtors’ chief economist, said in a statement.

Obviously this is great news for some areas of the country. It will be interesting to see if this trend will continue. One impact on continued increases will most likely hinge on the mortgage rates. Some industry experts are predicting rates will rise steadily over the next few months. If this happens, it could mean another downturn in the housing market and economy across the board. I think it’s important that all possible steps be taken to insure rates don’t rise above a level homebuyers can tolerate.

Recently there has been a lot of hoopla around proposed noise ordinances in downtown Mobile. I believe both sides of the argument have legitimate gripes. Some people have recommended rezoning parts of the downtown area. But is that alone the answer?

First let me look at this issue from the bar owners' perspective. Since the rebirth of downtown, the bars have played a major role in bringing people to that area. The bars aligned with the growing number of restuarants and art venues provide a major entertainment district.  The police now have a major presence on weekend nights and usually quell any blatant nuisances and disorderly conduct. So, it appears for the most part the situation with the bars is under control.

The bar district covers most of downtown Mobile from Royal Street on the East to Washington Street on the West side of town. And most of the downtown area is currently zoned commercial. The alcohol laws in Mobile are unrestrictive to a degree. Bars with private memberships can stay open and serve alcohol all night. Since the bars played a major role in the revitalization of downtown, then why should a noise ordinance b e imposed upon them? A noise ordinance may hurt business in an already economic downtown.

But on the other hand, how are Realtors, for instance, supposed to successfully encourage people to invest in new condos or townhomes downtown? Whenever I show property downtown, one of the first questions is, "how bad is the noise from the bars?" Now bar owners will argue people who move downtown should expect noise. Well, yes, that is true to an extent. But homeowners also expect to go to bed at a decent hour and sleep undisturbed through the night. And why should'nt people be allowed to live downtown and have that opportunity without being blasted out of their beds with noise from the bars?

So I truly think a compromise is needed. I believe portions of downtown Mobile should be rezoned residential without the option for commercial use. Give Dauphin Street to the bars, but return streets such as St. Francis, St. Michael, and others back to the people. Impose some noise restrictions or new laws, laws whereby bars are not allowed to stay open all night regardless.

It's time for people to move back downtown. It's time to bring more vitality downtown. It's time for the city council to examine the issues and make the strong decisions necessary to insure both successful residential growth and business expansion.

From an AP Report this morning,

The Alabama Legislature has gone along with a change made by Gov. Bob Riley to a stimulus bill that would spend $6 million in state funds to help spur home sales in the state.

The approval of the governor's executive amendment means the bill will become law.

The House voted 95-0 Tuesday for a minor change made by the governor to the bill concerning how payments would be made. The Senate had approved the governor's executive amendment last week.

The bill was sponsored by Sen. Lowell Barron of Fyffe. It would take $6 million from an oil and gas revenue savings account and put it into a fund to guarantee mortgages administered by the Alabama Housing Finance Authority.

A new web site, Walkscore.com caculates the walkability of any neighborhood by locating nearby restaurants, stores, schools, parks, etc. Walkscore measures how easy it is to live a car-lite lifestyle -- not how pretty the area is for walking.

As an experiment I put in my midtown address. The Walkscore came in at 63 out of 100 ranking "somewhat walkable". That seems reasonable. I would probably give about the same assessment when I think about what conveniences are close by, close enough to actually walk to.

Not only does the site give you a Walkscore, it also provide a Zestimate of your home value. provides you a map and listing of all local, in walking distance, conveniences, and the scoop on other neighborhoods and cities.

According to an article in the newspaper earlier this week, the City of Mobile is trying to create a larger internet presence. Many of these sites have just been created and are still works in progress.

For more see, Mobile widens its online profile - al.com

The sites are as follows;

The city’s blog

The city’s Twitter site

The city’s Facebook page

The links will also added to the link list on the blog.

Today the City will hosts its first webinar featuring Mayor Sam Jones. According to the city's Facebook page,

"From the comforts of your home, join Mobile Mayor Sam Jones in a live, online community meeting, designed to give citizens firsthand information on issues affecting Mobile. The webinar is also an opportunity for citizens to submit questions and receive timely answers.

It will be live on Friday, April 3, 2009 from 5:00 - 6:30 p.m.

Prior to the webinar, please take a few minutes and test your connection

Here's how to take part:

1. Go to www.cityofmobile.org
2. Click on the City of Mobile Webinar link
3. Register your name and email address
4. Participate in the Webinar! Watch it live, ask a question, or make a comment."

The first question that comes to my mind with this announcement — will insurance companies increase premiums or worse yet, cancel more homeowner policies?

From the Press-Register,

“Emergency management officials say an updated storm surge map for Mobile and Baldwin counties reinforces the idea that only low-lying areas near waterways are likely to flood during hurricanes. The main change for Mobile is an expansion of the areas near downtown, Dog River and Prichard that could be impacted by surge from a Category 4 or 5 storm. For the Eastern Shore, the main change is an expansion of areas that could be affected by storms of all sizes, from Category 1 on up, particularly areas south of Point Clear and around Weeks Bay. The area north of Creola and east of U.S. 43 is also now believed to be more prone to flooding, particularly with strong storms, according to the latest predictions.

The map suggests that most of Mobile and Baldwin counties will never flood. It was created by the U.S. Army Corps of Engineers and the National Hurricane Center.

In Mississippi, officials with the Jackson County Emergency Management department said updated maps for Jackson County have not been released yet.

“The changes didn’t reduce the flood zones in any appreciable way. From a planning perspective, it didn’t really change what we believe will happen in a storm,” said John Kilcullen, a plans and operations officer with the Mobile Emergency Management Agency.

Officials said changes on the map are the product of better topographical information in the flood zones and experience from recent storms.

“We’ve got a lot of new information,” said Ronnie Adair, deputy director of Mobile’s emergency agency. “We’ve been through a lot of storms over the last several years. We now have historical data with storms hitting us from the east, the west, or running up the middle of the bay.”

For the full story, see Storm-surge map expands flood zones in Mobile, Baldwin counties.

While the story is very encouraging, it is also a bit disheartening to see home prices fall. I'm not sure the national ratio holds true here in Mobile as I do not have the latest statistical information from the local MLS. Interest from buyers is definitely up due in part to the $8,000 tax credit to first time home buyers. In my own opinion, I believe the local market will improve dramatically as the year progresses. Some people are tired of waiting to sale their homes and others are itching to buy. Eventually, and sooner than later, the market will dramatically improve.

"Sales of previously occupied homes jumped unexpectedly in February by the largest amount in nearly six years as first-time buyers took advantage of deep discounts on foreclosures and other distressed properties.

Economists said sales, while still at levels not seen since 1997, may finally be coming back to life after declining sharply following the stock market plunge last autumn.

Prices, however, are expected to keep falling well into the year. Tens of thousands of homes reman tied up in the foreclosure process and are not yet for sale. Plus, as the recession deepens and job losses mount, many buyers are likely to stay on the sidelines.

"The four-letter word in the housing market is 'jobs,'" said Nicolas Retsinas, director of Harvard University's Joint Center for Housing Studies. "If you're worried about having a job tomorrow, you're not likely to buy a home now."

The National Association of Realtors said Monday that sales of existing homes grew 5.1 percent to an annual rate of 4.72 million last month, from 4.49 million units in January.

It was the largest monthly sales jump since July 2003, with first-time buyers accounting for about half of all transactions. Sales had been expected to dip to an annual pace of 4.45 million units, according to Thomson Reuters. The results, which came after a steep decline in January, mean that sales activity has returned to December's levels, but still remains lower than most of last year." For the full story, see Home Sales See Unexpected Boost.

(from the Mobile HBA)

“The Home Builders Association of Metro Mobile is excited to announce an unprecedented retail event kicking off Friday April 3rd. The event, entitled The Big Move, will feature 4 days of incredible incentives from participating associates offering special incentives to the new home buyer, such as a coupon book featuring thousands of dollars in discounts. Low interest rates are available so act now and save thousands on a new home! Mobile County homebuilders will offer their existing inventory at a great discount to the public during the event in a effort to stimulate new home sales in our area. Now IS the time to buy a new home!!! “

There is also a Gulf CoastHome Expo also sponsored by the Home Builders Association March 28-29 (Sat. & Sun.) at the Convention Center. Exhibits will feature the newest products & servicesavailable for either building a new home or remodeling an existing one.Information & Fun for the whole family. For more information, see Gulf Coast Home Expo.

Author Jonathan D. Miller recently stated in an article that appeared on GlobeSt.com,

(excerpts)

"Once we get through the current economic mess, certain cities and places will emerge winners and losers.

People, meanwhile, will continue to move away from colder climes. Many blue collar workers won't be picky as long as they can find a job. And increasingly that means heading south to states like Alabama.

I was in Mobile, home to the original American Mardi Gras, over the weekend. Now the local economy is not hopping, but a German company is building a huge new steel mill north of town. The city still hopes to keep its share of the Air Force's contract to build midair jet fueling tankers (fighting off Boeing and Seattle). The container port has received a boost with new facilities and existing freight rail lines lead north. Folks are worried about the national economy, no doubt, but recent activity provides hope and some measure of buoyancy in these rough times, a real contrast to many other places today. If Mobile can link into regional global pathway centers like Atlanta or Houston over the next generation, it's fortunes could be enhanced greatly. High speed rail connections would be a boon.

The South can rise again--this once sleepy region certainly has better prospects than the Great Lakes Rust Land." For the full story, see The South Can Rise Again:

The author is not saying anything that all of us have not been saying for the past few years here in Mobile. Now whether or not Mobile takes advantage of a number of opportunities potentially headed this way is left to be seen. There have been and will continue to be times when honestly, I  believe the city leaders are a bit shortsighted in their opinions on the direction of this lowly town. If the South, meaning Mobile in this instance, is to continue to grow both economically and population wise, the city has to grasp every opportunity in sight and take advantage of it's location and many transport faciilties not found in other Gulf Coast cities. Mobile is a hub of ocean, river, highway, airway, and railway access -- real pluses for large commercial ventures doing business on an international and national level. It's time for Mobile to awake from it's sleep southern state.

From the Web site www.federalhousingtaxcredit.com,

Congress has enacted a bigger and better home buyer tax credit for 2009. A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid.

$8,000 Home Buyer Tax Credit at a Glance

• The tax credit is for first-time home buyers only.
• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
• The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
• Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

For more information, visit the web site: Federal Housing Tax Credit for First-Time Home Buyers: Home.

It will be interesting to see how this will seriously impact the Real Estate market. But it is encouraging news for first time buyers who may otherwise not be able to purchase a new home. Without the worry of having to repay the $8000 tax credit for 2009 should provide incentive and encourage action.

This is a fact most area Realtors have been aware of for awhile. A major problem is the national media focusing on the weakest areas of the economy, not focusing on positive stories or anything that give consumer confidence. Like someone said recently in a sales meeting, “if you want the local weather, you don’t listen to the national news”. A number of positive things are continuing to happen in Mobile that should keep the local economy at least on a level plateau with some population and economic growth over the short term.

(From The Mobile Press Register)

“Mobile area homes values were ranked No. 6 in the top 20 metropolitan areas showing highest appreciation last year, according to a recent study by the Federal Housing Finance Agency.

Home values increased by 4.97 percent in the year that ended Sept. 30, the study showed.

“Mobile is holding its own compared to the rest of the nation,” said Jeff Newman, executive director of the Mobile Area Association of Realtors. Mobile’s annual appreciation rates were at 7 percent to 8 percent approaching the peak market of 2005, he said, but in the sluggish market had been averaging in the 3.5 percent to 4 percent range in the past year.” For the full article, see Mobile area home values rank high.

"The Mobile City Council voted today to spend $684,000 to build a small park downtown that will represent Mobile's unique path through the civil rights era.

Unity Point Park will occupy a one-third-acre triangle between St. Anthony Street and Spring Hill Avenue just west of Broad Street.

The park will feature a fountain and statues of former Mayor Joseph Langan and civil rights leader John LeFlore

Langan and LeFlore worked together to advance the rights of black residents while keeping Mobile relatively free of race-based violence that plagued other Alabama cities in the 1950s and 1960s, city spokeswoman Barbara Drummond said.

"Those two people were credited with a type of harmonious partnership that has led Mobile to the place it is today," she said.

The money for the park is coming from Mayor Sam Jones' discretionary fund and the city's tax increment financing district fund." For more information, see Mobile to build new park celebrating civil rights era.

The existing Ramada Inn on Church Street in Downtown Mobile is slated to convert to one and two bedroom condos. The listing price begins at $79,000 up to $200,000. A $1000 deposit is required with contract. A model will be open to the public Sunday, February 1 from 1:00 - 5:00 pm. Dauphin Realty is the listing agency.

Froman article in the Press-Register this morning,

“He (owner Jackie Nguyen) said he hopes that the people who rent rooms at the Ramada during Mardi Gras will become buyers.

“We are the prime location for parades,” Nguyen said, adding that he’s saving a unit for himself with Mardi Gras in mind.

Pitching the Ramada as condos may be a tough sell in a difficult financial market, according to local commercial Realtor Richard Weavil of The Weavil Co., who has done condo conversion projects.

“If I owned those, I would rent them out, and they’d probably be leased before the end of the week,” Weavil said. “That’s how good the rental market is.”

The 400-square-foot units would rent for about $400 a month, Weavil estimated.

Assuming 20 percent down, monthly mortgage payments would be about $450, according to Realtors. A $219 monthly homeowners association fee will cover electricity, water, cable and insurance, said June Hope of Dauphin Realty, which is marketing the units. “

For the full article, see Downtown Mobile’s Ramada Inn to be converted into condominiums .

 This past weekend the Washington Post Travel Section featured an article on tourist sites, out of the way restaurants, and much more on the State of Alabama. In an excerpt from the article the author writes,

 "But there is a lot more to Alabama than pork and pigskins. Despite the proliferation of suburbs and highways, vast pockets of the state have managed to hold onto their roots, and even develop new ones.

Such appreciation doesn't come naturally to me as a Tennessean. In the same way Northerners look down on Southerners, as a general rule northern Southerners (we call it the "Mid-South") look disparagingly at our lower-state neighbors. When I was a kid, trips into Alabama were like surgical strikes, hitting only the most cosmopolitan places: the bright lights of Birmingham, the gee-wizardry of Huntsville.

But my attitude changed a few years ago, when I ventured down to Fairhope, a small town on the eastern shore of Mobile Bay. Founded in 1894 as a utopian community based on the fair-tax theories of economist Henry George, the town has long been a magnet for intellectuals, Southern or otherwise; Sherwood Anderson, Upton Sinclair and Clarence Darrow all spent time there. Even today, long since subsumed into the greater Mobile metropolitan area, it remains a popular place for writers, painters and craftspeople to set up shop.

In what has become an annual pilgrimage, I was there for Southern Writers Reading, a pre-Thanksgiving literary festival that draws heavily on the local arts community. Organized by author and cultural impresario Sonny Brewer, the festival has featured Rick Bragg, Bret Anthony Johnston and Winston Groom, among others, and its proceeds benefit the town's literary nonprofit group." For the full story, see

Let Us Now Praise the Back Roads of Alabama - washingtonpost.com

The developers of SaltAire on Mobile Bay are exploring financing options as major bank pulls support and substantial liens are filed against the project. So what’s going to happen now? I personally believe prior to the economic downturn, SaltAire was a well thought out, well planned idea. Buyers had numerous options on home styles, amenities, and the location near/on the Bay was fantastic. It will be interesting over the next few months to watch and see how the developers proceed.

An article in yesterday’s Press-Register gave more details. See SaltAire developers seek money as liens stack up.