December 2013

The Gulf Coast is experiencing a robust recovery. Tourism records set in 2011 were broken again in  2012 as visitors from across the country and the world flock to the Gulf Coast. The Gulf tourism industry  has seen a strong rebound in part due to BP monies. BP has supported the Gulf Coast tourism through  payments of:
• $179 million for state-led advertising campaigns • $7 million non-profit groups and government entities promoting tourism • A BP national advertising campaign that complemented these efforts to promote tourism along 
The Gulf Coast’s remarkably recovery is evidenced by:
• Taxable lodging revenue in Gulf Shores and Orange Beach set a new record in 2012, surpassing  the previous record set in 2011 by 15%. •…

Phoenix West II is 32 stories and almost 2 million square feet.  This makes the condominium the largest residential building in Alabama.  The project cost an estimated $245 million and sits directly on the Gulf of Mexico in West Orange Beach, AL.

Some owner's are currently furnishing their respective units even though some of the building's amenities are incomplete.  The indoor pool, outdoor lazy river and lobby furnishing are a few of the unfinished items on the punch list.

Complications began to bombard the condo in 2005 after its construction was approved by the Orange Beach city council.  First, the construction company's piling supplier in Pass Christian, MS was destroyed by hurricane Katrina.  This effectively pushed the opening date from mid

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There are many condos in Gulf Shores, AL that rent well.  There are condos on Little Lagoon and condos in West Beach.  There are condos on Lake Shelby and condos in the middle of town.  There are condos on golf courses and condos in Northern Gulf Shores.  There are condos with beach access and condos at the end of Fort Morgan road.  The point is that Gulf Shores, AL is full of all types of condominiums and we'll discuss the basics in this article.

We're going to start with the condos North of the Intracoastal bridge with no water frontage.  These are the most inexpensive and can range in price due to location and the amenities in the actual complex.  Typically the properties North of the bridge are not considered investment properties, but offer a

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Selling in the Fall or Winter.

Fall and its typically cooler temperatures and lower humidity brings a new season of house hunting to South Alabama.  Everywhere from Spanish Fort to Orange Beach will notice a pick up in appointments during this time of year.  Everything starts with the all-important first look;  curb appeal may be the most important factor in selling anything from a house to condominium.

Seller's should understand that the first time a prospective buyer walks through the door, it's really the second showing.  The reason I say this is simple.  Most all buyers in today's market begin their search for property using their computer.  If they're serious about the real estate their viewing, they've already seen it;  possibly many times. 

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According to CoreLogic, home prices rose 3.3% statewide compared to 2012.  This trend continued across the state with a few exceptions during the month of September.  Prices fell in mobile along with four other metro areas that include Tuscaloosa, Huntsville, Aurburn-Opelika and Dothan.  
Distressed sales and foreclosures are dragging prices down in these areas, with the exception of Aurburn.  In Mobile, Huntsville, Tuscaloosa and Dothan home prices would have increased if these short sales and foreclosures would have been excluded from the analysis.  
The Auburn-Opelika market was the only market that prices would have still fallen even without the effect of the distressed property sales.  This perplexing state is a question mark as to the reason.  In…

The Mobile based automation company whose most lucrative products are sold by most of the larger cable providers in the country including, but not limited to Comcast, Time Warner Cable and Rogers.  Catalysts for the recent growth over the past two years are the result of the demand for its devices, which control everything from lighting to thermostats.  
Once thought of as a product for the ultra wealthy, from high tech gadgets on the walls of higher end homes.  Today automation technology’s growth has become apparent in all homes.  Major companies like Bright house and Comcast provide services that are integrated with CentraLite devices.  
The company was recently named by Inc. magazine, as one of the top job producers in the state of Alabama.  The number…

Under the qualified mortgage rule, from the Dodd- Frank legislation, mortgage lenders face greater legal liability if they make loans without ensuring the borrowers’ ability to repay.  Mortgage lenders who originate “qualified mortgages” enjoy greater legal protections should those mortgages default.
Fannie Mae and Freddie Mac are already requiring more documentation of income and credit history of our borrowers due to the pressure of the pending QM.  Bottom line, if the lender closes a loan that falls outside the parameters of QM, they are left with no protection from Fannie Mae or Freddie Mac.
A few examples of the pending changes for QM:
-     Loans cannot exceed 43% debt to income ratio (this effects how we calculate income)
-    Loans must be fully

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