My Daphne, Spanish Fort & Fairhope Real Estate Blog

Perhaps there's no better way to view Daphne's history and beauty than a brisk walk through Village Pointe Park Preserve, off Scenic 98.

Evidence of Indians, Spanish, French and English settlers has been found in the park, and while you won't see historic replicas of these forebears, you will see the land they were attracted by.

Rich with native trees, streams, tidal pools and wetlands, Village Pointe can be explored on foot or bike. Walk the dog or grab your fishing pool or towel because at the end you'll find a fishing pier and beach with panoramic views of Mobile Bay.

A brisk 20 minute walk past cypress knee swamps, deep forests to your final destination. Stop midway to view the Jac...

If the Eastern Shore is where Mayberry meets Maguaritaville, then Cheryl's Cafe is pure Mayberry, where regulars are greeted by name and non-regulars are soon to find something so addictive on the menu that they join the following.

Unauspcious at the end of a small strip of shops at U.S. 98 and Hwy. 31 in Spanish Fort, Cheryl's offers a a variety of fresh sandwiches and sides, as well as a heartier host of specials that change each day. Get there too late and you may watch as your favorite is wiped off the board.

What it all comes down to is that Cheryl is a very good cook, who has compiled a few secrets that simply enhance a standard dish.

So here are some of my favorites from the pri...

Freddie Mac announced Thursday that 30-year fixed mortgage rates fell below 4% for the first time ever. The new rate - just 3.94% - is lower than the rate in the 1950s, according to the National Bureau of Economic Research. For buyers looking at homes in Daphne, Fairhope and Spanish Fort, you'll find the 15-year fixed rate in the lower 3% range locally.

For example, Mary Brabner, loan originator for Region's Mortgage in Daphne, AL, says her 30-year fixed rate is 3.875% today. This is for over buyers with credit scores over 740, with 20% down on a purchase. A 15-year rate is 3.25%, Brabner said. Dean Watson of WestStar Mortgage, also in Daphne, AL, says rates may be higher for those whose...

What is a short sale?
A short sale is the sale of a home or property for less than what is owed on the property. The seller must have also experienced some sort of “distress” and must sell. (Example, the seller of a home in Daphne AL owes $250,000 and the house value has fallen and it’s only worth $200,000. So there is an immediate $50,000 shortfall plus closing costs). It does not necessarily mean that the property is heading into foreclosure.  

Why is it sometimes called a potential short sale?
That’s because it is ultimately up to the seller’s lender to approve the sale. After all, it’s the lender who is taking the major financial hit here.
 
What qualifies as a distress for a seller?
Many...

Veterans closing mortgage loans after Oct. 1, 2011 will find that the funding fee has been reduced on VA loans.

Here's the new structure:

VA loans may not always be the best choice for financing, so be sure to do your research.

"Would your sellers consider a lease purchase?" two separate agents have asked me in the last two days on two separate listings.

And each time, I've explained the pros and cons of such an arrangement to my sellers. Both sellers passed and here's why.

First, the Wikepedia Definition: "A lease purchase contract is a shortened name for lease with option to purchase contract. It is a form of real estate purchase which combines elements of a traditional rental agreement with an exclusive option of right of first refusal to later purchase a home."

The initial challenge of a lease purchase is to make sure everyone knows what they are talking about, even the agents. Often, the buyer is thin...