Wednesday, October 28, 2009
133 Sandy Shoal Lp Fairhope 3653, Property Details
Call me today to set up an appointment to view this home.
Tyler- (251)605-2934
www.nextstepre.com/Real_Estate/Homes/For_Sale/Details/AL/2/Fairhope/133_Sandy_Shoal_Lp_Fairhope__36532/mls=138609/
6401 Battles Rd Fairhope 3653, 2 (MLS#156469) Property Details
Call today to view this amazing property
Tyler- (251)605-2934
http://www.nextstepre.com/Real_Estate/Homes/For_Sale/Details/AL/2/Fairhope/6401_Battles_Rd_Fairhope__36532/mls=156469/#
Friday, October 23, 2009
http://www.nextstepfsbo.com/pemberton
If you love beautiful details, then you will surely want to see this builder’s personal home situated on two wooded acres on a quiet cul-de-sac in the exclusive community of Olde Weatherly. A five minute drive will take you to I-65 and a new shopping center that includes everything you could possibly need.
This spacious home offers an open floor plan ideal for entertaining a large crowd or intimate conversation for a small group. The extra large dining room easily accommodates seating for ten or twelve with ample room for china cabinet and serving pieces. The living room has vaulted ceiling, built-in entertainment center and book shelves. Adjacent to the living room is the huge sunroom overlooking the deck.
Main level master suite has trey ceilings, jetted tub, two separate vanities, and two closets. Upstairs are three bedrooms, all large enough to accommodate king size beds.
The completely finished basement with private drive and entrance provides wonderful living accommodations for parents, teenagers or guests. This 2,400 (+/-) sf basement includes a living room with fireplace, dining room, kitchen, large bedroom, and even washer and dryer connections!
To set up a showing or request more information, Call Mary Lowrey at (205) 620-4034 or email pemberton@fsbobham.com.
Saturday, October 17, 2009
Real Estate Blog - OMG! Interest Only Loan Modifications? Have we learned nothing?!
Interest only loan modifications may be on the horizon. Earlier this week, JP Morgan Chase and BofA announced their intentions to submit a proposal to President Obama, expanding the current Home Affordable plan to include a potential interest-only period. Their argument is that more borrowers will qualify for the HAMP program if the amortizing principal aspect is left out of the equation. While they admit that they may only be postponing defaults, their rationale is that a borrower whose income has been cut is already unable to make the current payment so reducing it to an interest only amount may allow them time to recover the ability to pay.
Have we learned nothing from the past three years? Of course more borrowers will qualify for the 31% DTI required for the HAMP program if you give them interest-only loans, just like more borrowers qualified for home loans in the first place using this particular mortgage vehicle. Isn't that one of the reasons we are in the current situation? People in homes they can't afford? Borrowers put in loan programs not designed for
their needs? IMHO any interest-only loan modifications are foreclosures and short-sales waiting to happen, especially in areas like Las Vegas where 81% of homeowners (yes, that is an accurate number) are upside-down in their property. Postponing the inevitable is NOT in the best interest of the borrower.
Even mortgage investors like the MIC are against this idea, calling it "extend-and pretend." Perhaps an interest-only period in conjunction with a principal reduction of some sort would give borrowers more of an incentive to keep their home after riding through the difficult economic times, but these would create other issues and present an accounting challenge for the banks. Leave mediocre enough alone I say. Adding interest-only loans into the modification process is a time-bomb waiting to go off.
Just read this. Man, talk about putting a bad taste in your mouth.
Tyler Pettis
http://www.NextStepRE.com
http://www.NextStepFSBO.com
http://www.Nextstep360.com
Thursday, October 15, 2009
23700 Main Street, Fairhope, Alabama 36532 Property Details
$299,500
Bedrooms: 4 Baths: 2 Full 1 Half
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Agent Remarks:
BUILT IN 1896, THIS LOVELY CREOLE COTTAGE SITS AMONG HUGE LIVE OAKS IN THE HEART OF HISTORIC MONTROSE. SITE OF THE 1ST CATHOLIC CHURCH ON THE EASTERN SHORE. HAND-HEWN BEAMS UNDERNEATH AND GORGEOUS HEART PINE FLOORS ARE JUST PART OF WHAT MAKES THIS LOVELY HOME ONE OF A KIND! NEW ROOF IN 2008. BAY ACCESS ACROSS STREET!
Property Information:
# Community: Montrose
# Orientation: Bay Access
# Approx. Living Area: 2600-2799 sq.ft.
# Style: Creole
# Stories: 1.5
# Dining Area: Breakfast Area-Kitchen
# Approximate Age: 25+ years
# Finish: Wood
# Garage: Single Carport
# County: Baldwin
# School System: Fairhope
Call 251-928-2323 for appointment or email tony@nextstepre.com
www.NextStepRE.com
221 Lake Ridge Dr, Fairhope, Alabama 36532 (MLS#141662) Property Details
Property Information:
# Community: Quail Creek
# Orientation: No Waterfront
# Approx. Living Area: 2400-2599 sq.ft.
# Style: Contemporary
# Stories: One
# Dining Area: Breakfast Area-Kitchen, Separate Dining Room
# Approximate Age: 6-10 years
# Finish: Brick
# Garage: Attached, Double Garage
# County: Baldwin
# School System: Fairhope
Call 251-928-2323 for appointment or email tony@nextstepre.com
www.NextStepRe.com
