Mobile Realtoreality

According to the latest Zillow Real Estate Market Reports, home values in Mobile decreased -0.18% in the third quarter of 2008, compared to the third quarter of 2007. Nationally, home values decreased -9.7% during this same period.

When I first read this I thought maybe the decimal point was in the wrong place. Maybe it should be 18.0 or 1.8%. I honestly was slightly surprised the number was so low. I suppose as homeowners in Mobile and Realtors in Mobile, we should be happy at this news albeit from Zillow. Sometimes I am a little wary of national sites on projecting local facts. You have to, at times, take their data with a grain of salt. But hey, with all the negative headlines today, let's take this as some really good news. Click the link below. This will take you to the Zillow site where you can check data on a number of municipalities nationwide.

Zillow Real Estate Market Reports

C

Recently Mayor Sam Jones has directed the city's telecommunications and technology departments to explore the matter of offering free wireless internet service in Downtown Mobile.

"That's something we consider a priority," Jones said. "A lot of people are interested in having broadband access. ... It would be a selling point for Mobile."

Personally I think it's a great idea. We would probably see more people sitting in the parks working on laptops. It would be a great benefit to Realtors showing property downtown. We would have the ability to freely access the Mobile Multiple Listing Service without paying any internet service provider fees. This would be a luxury.

I'm sure there are a number of other benefits to this idea. I'm glad to see Mobile on the forefront. Of course, I am sure there are some negative aspects to offering free wireless service, but I can't think of one while sitting here writing this entry.

Related articles,

Free downtown Mobile wireless eyed

The City Wireless War | Videos on ZDNet

TIME Wireless: The City That Cut the Cord

Bytes From Lev: Renewed Hope for Wireless Cities

A few weeks ago while walking the dogs, I ran into a neighbor from around the corner. She was all upset that State Farm is cancelling wind coverage on her main residence. She was quite disturbed with her agent and State Farm as a whole. Having two car policies and two home policies with State Farm wasn't qualifier enough. The agent could not give her a clear explanation as to why her policy is being cancelled.

Understandably I really didn't think much about it at the time. But within a week an article in the Press-Register addressed this immediate issue. A number of policies are being cancelled or re-written without wind coverage by not only State Farm but other area insurance companies as well. According to an earlier news article "Allstate Insurance Group will cut wind coverage from the policies of up to 9,150 homeowners in Mobile and Baldwin counties by September 2009, the company has told state regulators."

Mobile has not had a major hurricane hit since Katrina in 2005. So why are insurance companies just now deciding to make such cuts? On the national news recently a segment focused on insurance company profits and how they are generating unheard of revenues similiar to those of the oil companies. And to whose expense?

At least the State of Alabama Insurance Commission is beginning to show some interest. Within the past few weeks, Commissioner Jim Ridling and State Senator Ben Brooks have or are meeting with local residents to discuss the problems first hand. According to a recent Press-Register article, "at least 27,000 homeowners' policies have been canceled or stripped of wind coverage in Mobile and Baldwin counties since Ivan." I would expect this number to increase significantly within the next 6-9 months unless the State and Federal government step in and impose stricter guidelines on the insurance industry as a whole.

Hopefully a solution can be agreed upon sooner than later. If not, all of us living along the Gulf Coast will have some difficult challenges to face in finding adequate coverage at a reasonable price.

Related articles;

Have a question for Alabama Insurance Commissioner Jim Ridling?

Allstate to cut wind coverage from many area policies

Solution For Gulf Coast Insurance...

Insurance Help May Be On The Way...

The Online Office of Congressman Gene Taylor - State Farm abandons ...

According to Housingpredictor.com (The Hottest 10), real estate experts, nationwide, have several hot-spots that they feel represent the best value in terms of investment in the U.S. These areas have been selected because they have strong economies and are predicted to grow in the coming year.

The hottest U.S. markets at present are:

Biloxi, MS - 4.9% growth

Salem, OR - 4.7% growth

Bismarck, ND - 4.6% growth

Spokane, WA - 4.4% growth

Yakima, WA - 4.1% growth

Austin, TX - 4.0% growth

Grand Junction, Co - 4.0% growth

Fargo, ND - 4.0% growth

Mobile, AL - 3.9% growth

Albuquerque, NM - 3.5% growth

                          (Biloxi, Mississippi)

The Governor's office, Alabama Advantage Division, recently reported that most inquiries for Mobile area real estate are from these top five states:

Texas

Michigan

Oregon

Alabama

Wisconsin

I really find this interesting data. I can somewhat understand Michigan. With the decline in the automotive industry and the loss of blue collar jobs, I can see where skilled laborers could transfer talent to the Mobile area. I don't really understand the others as much. Maybe snowbirds from Wisconsin are looking into beach property? But why Texas and Oregon? It would be interesting to know the reasons why they may be considering buying property in Mobile. How much money are they planning to spend, and whether it's for investment, commercial interest, or residential property; primary residence or vacation?

While the election process is less than 24 hours past, people are wondering how the Obama team will forge an end to the financial crisis in this country. Realtors are wondering if 'change" will occur to improve current market conditions.

There are a number of issues to consider, obviously. As Obama stated in his acceptance speech last night, "the road is a long one". There will be no quick fixes. It will take sacrifices from citizens and focused leadership from a new regime. The blame game is over. It's time to move ahead, strategize and implement working initiatives that will bring change to the current predicaments of a number of american homeowners.

Maybe just the idea of change can bring hope and a brighter outlook and encourage people to loosen their purse strings, both on the real estate front and in the economy in general. The spirit and confidence of the American public has been so discouraged and any signs of hope and change may enlighten some to embrace the "yes, we can" attitude, have a more positive attitude, and push forward through the mire left behind by past political blunders.

On a lighter note, the housing market in the DC area will definitely show an upward trend in the short-term anyway, with a change in administration. It wouldn't surprise me if calls aren't already in process to begin the listing and selling, and also the buying of homes for the new representatives and staff members moving into town. Who knows this could even provide a spark to a number of other areas in the country.

So regardless of your political affiliations, you have to agree sometime change is good. And a motto like "yes, we can", brings encouragement and a sense of enlightenment to those who have been so discouraged for so long.

The real estate market in Mobile is not suffering as other US market are currently. The national media has done a disservice to the local market by consistently putting a negative spin on the US market in general. People watch the national news and when dismal real estate statistics are quoted they assume Mobile is just as bad as the rest of the country.

No so! Here are some interesting recent statistics for Mobile:

The total number of listings currently on the market in Mobile are 3436.

The average list price is $160,787.

The total residential sales since January 1 - 3331

The average sales per month - 370

Average time of house on the market - 88 days this year vs 60 days last year

Average sales price this year vs. last year - $157, 242 vs $140, 851

Yesterday afternoon I attended Mayor Sam Jones' briefing on the "Future of Mobile". The 2:00 pm session took place in the Civic Center Auditorium and drew about 200 people. Spokespersons from all cooperating organizations presented details on the various sections of the plan.

First I would like to commend the group on developing this futuristic plan for the stability of Mobile. While the plan may be useful in some developments for the future throughout Downtown, Midtown and other areas of the plan's focus, the reality is, the plan was a too broad brush response to community input.

The speakers yesterday did not address priorities, nor did they speak to costs and how these efforts will be paid for. I would have liked to have seen a more specific plan on the steps and timeline necessary to implement the recommendations.

I would have also preferred seeing a plan focused on a smaller area, less than the 10 mile area addressed, and layout doable projects. And furthermore, address the detailed actions and money necessary to achieve these goals. My own opinion is that the plan should have focused on Downtown Mobile, within the Canal, Broad Street, and MLK corridors.  Develop affordable living, green spaces, accessible parking, retail, entertainment and restaurants in that area first. Obviously have some plans for restrictions in place so that the other sections to follow the development process don't go to hell in a hand basket, but focus on one area first.

I honestly believe that as Downtown develops and becomes more viable, the other areas may take care of themselves as long as guidelines are in place to limit the types of developments, housing, and so forth.

For more information on the plan, see:

 Mobile presents plans for dinner cruises, medical research corridor, other ideas

City of Mobile: A Plan for Mobile's Future

 (photo from the NewMobilePlan website)

Dauphin Realty agents are once again holding open houses on Thursday, October 30. The pre-Halloween event takes place from 5-7 pm. Most of the homes featured on the tour are in the Midtown area of Mobile.

For a complete list of homes on tour and more details, visit: DauphinRealtyTwilightTours.

Tomorrow the Downtown Alliance hosts the second annual Mobile Downtown Living Tour. Come visit me at the Mattress Factory between 1 and 4 pm.

Tour up to 25 lofts, apartments, townhouses and beautifully restored historic residences that reflect the variety and energy of urban living.

Saturday, October 25th
10:00 a.m. - 4:00 p.m.

Tickets are $15 in advance, $20 on the day of the tour (there is no charge for children under the age of 12 when accompanied by a ticketed adult) and may be purchased at the following locations:

The Downtown Mobile Alliance
261 Dauphin Street, Mobile, AL 36602

For more information and a list of properties on tour, see Mobile Downtown Living Tour.

If you're looking for opportunities to expand your business, relocate your business, or if you've always thought you'd like to open your own business, you won't want to miss the Downtown Commercial Property Tour, Friday,October 24th from 10:00 a.m.until 2:00 p.m.

More than two dozens properties for sale or lease will be open for the public during the self-guided tour, and some recently renovated spaces will be open to demonstrate the development possibilities that exist Downtown.

Stop by the Downtown Mobile Alliance office at 261 Dauphin Street at 10:00 a.m. for a welcome orientation and throughout the tour to pick up maps to the properties.

For more information contact Fred Rendfrey at 251-434-8498 or fred@downtownmobile.org.

The citizens of Leinkauf Historic District in Midtown Mobile have agreed to the expansion idea proposed several months ago. The new area will include an additional 400 homes and several buildings along Government Street. For more, see the story from today's Press-Register, Expansion of Mobile's Leinkauf Historic District moving forward ...

Tomorrow begins the Mobile Home Builders Association's annual Parade of Homes. The homes are open to the public this Saturday and Sunday, October 18 and 19 and next Saturday and Sunday, October 25 and 26.

According to the Home Builders' web site -- 

"The members of the Homebuilders Association of Metro Mobile are proud to create the places you call home. We know that a home is more than a building - it is the place you raise your family, celebrate life's occasions, and retreat from the stresses of the world. The homes featured in the 2008 Parade of Homes will promise to provide just what you are looking for with a variety of styles, locations, and amenities in a range of prices. The builder and associate members of the HBA always pull together to offer you the latest in building design, technology, energy efficiency, and style! The homes on this year's Parade represent 45 homes, 26 builders in 33 different neighborhoods."

Several of the tour homes are located in the new community of Saltaire located on the western shore of Mobile Bay. The developers and builders in Saltaire are participating in General Electric's Ecoimagination program and are one of 11 communities built in the country under these new GE Guidelines.

The Saltaire homes allow owners to monitor their energy and indoor water use daily. The appliances and lighting featured in the homes use up to 75% less electricity. A number of the homes have solar panels. It is anticipated homeowners will be able to reduce water and energy use by at least 20%. For a full list of the homes on tour and a Parade map, see Mobile's HBA Parade of Homes.

While the Parade of Homes does not feature any midtown or Downtown properties, next week's Downtown Living Tour will provide the opportunity to tour residences in the city. It's a shame there are not more new single family homes being built closer into the Downtown area.

More on the Downtown Living Tour to come.

                                  The HBA Showcase Home, Saltaire

That could be the name of a song.

But basically, I've had the Mobile blogging blues real bad for the past week. And no wonder, the majority of realtors around the country have got the blues too. With the stock market meltdown, the breakdown of financial institutions, lack of lending, and tighter economic restraints the real estate markets have almost come to a standstill.

So while we sing the blues, maybe we should add a jazzy upbeat and definitely smile and keep a positive attitude. Frowning and negativity never make things better.

But there are a number of real estate related events upcoming in Mobile starting this weekend that should be addressed. Tomorrow, I promise I will get out of my blogging blues and write. Tomorrow, tomorrow, the sun will come up tomorrow.

Sunrise over Mobile Bay

Today residents in four jurisdictions are voting whether or not to annex to the city of Mobile. I'm not sure if anyone knows how the vote will turn out. Annexation is a big dream of Mobile Mayor Sam Jones. I understand his reasoning to a degree, but am not sure i totally agree with the logic.

Jones obviously is interested in growing the City of Mobile. This in turn should boosts tax revenues. But on the other hand, it may also dilute the city services and deplete the city's financial coffers. Even with an increased base, in the current economic crisis of the country as a whole, the tax incomes may not be enough to cover the added expense of additional police officers and more of the routine day to day city services. For example, schools may suffer and/or emergency assistance may be cut.

I would rather see more emphasis placed on improving and developing the current city of Mobile and the current city services without necessarily adding more households. Focusing on a shorter list of issues facing the city may be of greater benefit. Maybe persuading more corporate entities, retail and restaurants Downtown would benefit the city revenue-wise more than continued annexation.

I respect that Sam Jones has a strategic plan for the city. I talked about this in last week's posting 'Sustainablity in Mobile". But I am just not sure his priorities are in place for the betterment of this town. We will see.

Update on Wednesday, October 8, 2008 at 04:30PM by MLE

The results were split on the annexation vote yesterday. The residents of Theodore and Windmill Place voted to join the City of Mobile. But the people of Moffett Road, Dominion and Wellington subdivisions voted against the proposed annexation. For a full story, see Annexation vote brings two new areas into city.

A recent New York Times article featured Eastern Shore neighbor Fairhope.

"In 1894, a collective of 28 idealistic artisans, educators and freethinkers pulled up stakes in Des Moines and journeyed to the Alabama coast. The strangely hilly farmland and high bluffs along the breezy shores of Mobile Bay probably weren’t anybody’s idea of enlightenment back then. But the price was right, the oaks were mossy, the fish were jumping — and the sunsets weren’t bad, either.

So the Iowans figured that 4,000 or so dirt-cheap, if occasionally storm-battered, acres might just make the perfect place to forge a utopian community.

The result was Fairhope, an oasis established under the principles of the writer and thinker Henry George, who believed that the most equitable way to run a town was to turn it into a “single tax” colony. "

For the full article, see Havens - Fairhope, Ala. - Building on a Foundation of Utopian ...

Yesterday I attended the annual meeting of Envision Coastal Alabama at the Arthur Outlaw Convention Center in downtown Mobile. Envision Caostal Alabama (ECA) is in its second decade of existence. Through volunteer support and involvement, ECA was developed to better define the community's vision for future growth with the four E's - Environment, Economy, Education, and Equity -remaining the focal point of the organization's strategy.

The keynote speaker, Steven Seibert, Senior Vice President and Director of Policy for the Collins Center for Public Policy, Inc. in Florida, addressed the issue of sustainability. He talked about what Florida is doing to ensure the future of the state for generations to come.

So what does sustainability mean to Mobile, in particular? From the discussions yesterday I think Mobile is on the right track. Mayor Sam Jones, with community input, is focusing on developing a major plan for the City of Mobile. Some work is already underway in the Broad Street/Brookley areas. He is trying to bring more of the county into the jurisdiction of the city. But for his plan to be successful, the people have to be supportive and the initiative must grow. it's not a five year plan, but more a long-term plan for the betterment of the city.

The Mobile Chamber of Commerce, city and state leaders are working to bring in more industry to the area to provide a growing base of employment opportunities.  More industry and more people will increase the tax base allowing for increased city and municipal services.

The Mobile Public School System has been under local scrutiny for a number of years, but seems to have turned the curve and now provides an example to other cities nationwide for the development of curriculum, school standards, and scholastic acheivement.

Mobile and the Eastern Shore are now linked with a fairly new and growing bus system. The newly opened Cancer Center offers new and emerging technologies for cancer treatment. New art centers downtown provide cultural environments lacking in a number of communities. Organizations such as the Downtown Alliance and Keep Mobile Beautiful are working to ensure an emerging quality of life for downtown living.

There are a number of efforts on-going and many more are needed to provide sustainability for Mobile. It's not a one-shot deal, but a continuing and evolving strategy that may never be completed.

On a side note, I have tried several times, unsuccessfully to reach the Envision Coastal Alabama website. Supposedly the link as advertised is www.envisioncoastalalabama.org.

Last week the new reference site, Encyclopedia of Alabama, was released. Developed with $3 million in public and private funds the site is a resource on Alabama's history, culture, geography, and natural environment. It was developed by Auburn University and the Alabama Humanitarian Foundation.

According to Jeff Jakeman, site editor, "it's an authoritative, reliable, reference source on all things Alabama".

The comprehensive site combines the traditional print encyclopedia with continuously updated information via internet feeds and links.

The site looks fairly comprehensive. I would imagine it will be put to good use by Alabama teachers and students alike in their studies of the state. But its also a good one-stop resource for anyone looking for information on history and places of Alabama.