Some Alabama economists aren't as optimistic as the economists who told a national survey they believe the recession is already over.

More than 80 percent of economists believe the U.S. recession is over and an expansion has begun, according to a survey by the National Association for Business Economics that was released Monday.

But these same economists said they expect the recovery will be slow as worries over unemployment and high federal debt persist.

"The survey found that the vast majority of business economists believe that the recession has ended but that the economic recovery is likely to be more moderate than those typically experienced following steep declines," said NABE President-elect Lynn Reaser, chief economist at Point Loma Nazarene University.  Read more from IQRealEstate.com>

A national pedestrian advocacy group plans a visit to the Mobile Bay area next week, including street-corner meetings at dangerous intersections in downtown Mobile, and talks with Baldwin and Mobile county political and business leaders.

In recognition of the group's visit, the Fairhope City Council on Monday passed a resolution promising that the city in the future will follow the "complete streets" concept. Now, when street or sidewalk projects are planned, Fairhope must consider not only autos, but also buses, bicycles and pedestrians.

"We don't have any other city in the state of Alabama on record advocating complete streets. Fairhope is the first," said Sharon Z. Roerty, executive director of the Washington D.C.-based nonprofit National Center for Bicycling & Walking.

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SUMMARY:  Business confidence continues to improve heading into the fourth quarter of 2009.  Up 1.3 points to 47.3, the ABCI indicates that economic conditions will be slightly better than in the third quarter.  However, a broad-based recovery that includes both output and employment will not be achieved this quarter.
Key findings of the fourth quarter ABCI include:

• Business confidence rose 1.3 points to 47.3, suggesting that the pace of improvement will slow from the third quarter, when the ABCI jumped 14 points.  With the index serving as a comprehensive measure that considers employment and profits as well as components of GDP, panelists do not see a broadly-defined recovery beginning in the fourth quarter.

For the full report, see News and Announcements, Center for Business and Economic Research ...

Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 7.2 percent to a seasonally adjusted annual rate¹ of 5.24 million units in July from a level of 4.89 million in June, and are 5.0 percent above the 4.99 million-unit pace in July 2008. The last time sales rose for four consecutive months was in June 2004, and the last time sales were higher than a year earlier was November 2005.

Lawrence Yun, NAR chief economist, said he is encouraged. “The housing market has decisively turned for the better. A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales,” he said.

The monthly sales gain was the largest on record for the total existing-home sales series dating back to 1999. Read more>

This campaign will encourage potential homebuyers and sellers to visit ThingsAreReallyMovingHere.com to find out the facts and learn more about buying and selling a home in Mobile, Alabama. The campaign will feature radio, billboards, newspaper and on-line advertising, all pointing people to the micro site, ThingsAreReallyMovingHere.com. On this site consumers can receive buying and selling tips, read monthly real estate reports provided by the USA Center for Real Estate Studies, hear what our partners are saying about the local economy and real estate and register to win a gift certificate from Lowe’s.

MAAR has partnered with the City of Mobile, Mobile County Commission, Mobile and Saraland Chambers of Commerce, Mobile Bay Convention & Visitors Bureau, USA Center for Real Estate Studies, Home Builders Association and Alabama General Contractors to help spread the word and present a unified front to the public regarding the housing market.

But even in the new age of social networks, Twitter, and numerous other Web based marketing tools a lot of agents are turning to some old tricks to get listings sold. That and a little good luck and/or old fashion salesmanship skills.

Sunday's Mobile Press-Register featured an interesting article on step's agents are taking to boost business. Holly Brunson of Dauphin Realty talks about burying a statute of St. Joseph in the front yard of one of her listings.

 "The day after burying a statue of St. Joseph in the seller's yard, Brunson had an offer on the house, a showing and a bunch of calls. St. Joseph, the patron saint of the family and household needs, will stay put until the house sells, she said, adding, "He's not going anywhere."

Barbara Reeves said most of her buyers come from the Internet. "I have six Web sites, a blog and 20 micro sites," said the agent at REMAX By The Bay in Daphne. "I go on the theory if one site doesn't come up, the other one will."

For more, see From prayer to Facebook, agents try whatever works – al.com.

For more on the stamps and celebration planned for this week, see Biloxi Lighthouse gets makeover, stamp.

The Obama Administration’s Home Affordable Refinance Program, launched early this year, allowed refinances for those whose first mortgage was as high as 105 percent of a comparable market analysis (CMV). A July expansion now allows participation by borrowers current on payments, but up to 125 percent “underwater.” This especially helps those in down markets, such as Las Vegas, where about two-thirds of current mortgage holders owe more than the worth of their homes. Nationwide, 4 to 5 million homeowners whose mortgages are owned or guaranteed by Fannie Mae or Freddie Mac might reach more affordable monthly payments through the program, which falls under the broader Making Home Affordable initiative.

Those with government-based Federal Housing Administration (FHA) loans also have new refinance opportunities thanks to the American Recovery and Reinvestment Act of 2009. The revised single-family loan limits now reflect the higher loan limits set by the Economic Stimulus Act of 2008 or the Housing and Economy Recovery Act of 2008, all determined by county or metropolitan area. Effective through the end of 2009, those limits range from $271,050 to $729,750 and permit FHA to insure loans on amounts up to 125 percent of the 2007 area median house prices. For more, see Government Programs Mean Easier Refi’s – WalletPop.

The price range of $300,000-$499,999 had 16 sales which increased from 12 sales in March, and is comparable with the 16 properties sold in June, 2008. Transactions over $500,000 declined to 1 sale from 4 in March which is below the 7 sold at this time in 2008.

The latest revised U.S. numbers show a very healthy 15.7 percent increase in the number of sales, and concurrently, a decline of 1.2 percent in the average sale price of $208,800. The U.S. median sales price dropped by 1.9 percent to $166,600 and the estimated inventory declined to 5.2 months for April. The increase in sales and decline in inventory reflect the foreclosed homes that are driving the numbers up and average prices down. In addition, there may be some initial impact from the buying incentives that Congress has implemented through new financing programs and tax incentives especially for lower priced properties.

The Mobile market is still holding its own. It should begin to see the impact of national stimulus programs soon. It is still a good time to buy, and still a good time to sell.

One number not shown in this report is the average number of months needed to sell the existing inventory. One rule of thumb given by the National Association of Realtors is that 6-8 months represents a healthy market. It gives the buyer a good choice of alternative properties from which an informed selection can be made. Simultaneously, a sufficient number of properties for sale provide good competition to assure that the desired price is competitive.

In April, 2006, an average of 4.47 months was required to sell the existing inventory of properties. In April, 2009, the Mobile number has risen to 11.4 compared to 10.1 for the U.S. The 11.4 months should be viewed as another reason to buy in the current market with an increased inventory.

Additional data and information can be found at http://cres.southalabama.edu.