dothanhomesearch.com

By: Judy Spears
Broker Associate, CRS, ABR, GRI, CNHS

http://www.judyspears.com

Completely updated home in southeast Dothan featuring all new appliances, floor coverings, windows, and cabinets. There is a large fenced backyard to go along with the four bedrooms and the spacious family room. Nothing left to do here but move in!

Property Stats - 505 Thunderbird

Bedrooms	Baths	Sq Ft	Year Built	MLS #	List Price
4	2	1857	1969	126108	$109,900

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By: Charles Woodall
Managing Broker

http://www.dothanhomesearch.com

Here are the three subdivisions in Dothan that have recorded the most homes sold since July 1. Whether that makes them ?hot? areas is certainly debatable. I?m calling them hot because we need something hot in this market.

Crestwood Village

• Located off of Fortner Street in southwest Dothan, outside Ross Clark Circle
• Nine sales in this subdivision with a sold price range of $140,000 to $200,000
• Average days on market was 141 days

Interestingly, six of these sales have been new construction, with a median price of $155,700. Two of the three resale homes sold for more than the highest new construction sale of $170,000.

Honeysuckle Cove

• Located on Honeysuckle Road between Hwy 52 West and Fortner Street, just outside the Ross Clark Circle
• Seven new construction sales with a sold price range of $114,900 to $125,900
• Average days on market was 121 days

Each of these sales was a newly built home in a price range below the Dothan median home price (around $136,400)

The Highlands

• Located on US Highway 84W (West Main Street), just past Brannon Stand Road
• Seven sales with a wide price range of $215,000 to $620,000
• Average days on market was 106 days

One of these sales was new construction which sold for $315,000

View Larger Map

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By: Charles Woodall
Managing Broker

http://www.dothanhomesearch.com

I would be willing to wager than many people in Dothan don’t know that we hold the dubious honor of having the world’s smallest city block in our city. The block is located at the intersection of Museum Avenue, N. Appletree Street, and E. Troy Street, behind the Dothan Civic Center and near the Wiregrass Museum of Art.

Click on the picture for a full size photo.

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By: Charles Woodall
Managing Broker

http://www.dothanhomesearch.com

Morningstar recently ranked Alabama’s 529 College Savings plan among the worst in the country. If you are like many Alabamians, you may be looking for an alternative to save for your child’s college education. Let me introduce you to a way to save up to $3,000?from the sale or purchase of a home toward your childs (or childrens) college education.

The program is called UPromise. UPromise is free and takes only a few minutes to join. Once you join, you request your “CENTURY 21″ broker at the “Services” section of their website. If the home you are buying or selling is in Dothan, our office will receive your information and contact you to get the process started. At closing, UPromise will?put a percentage of the sale price of the home you bought or sold into a savings account for your child’s college. The savings doesn’t stop their however. UPromise makes it easy to save money for college through the purchase of items we use everyday. Check out their website for more information.

CENTURY 21 Key Realty is the only company in the Dothan real estate market that participates in Upromise. If your childs college is important to you, and you are considering buying or selling a home in the future, contact us. If you have any questions, feel free to contact our office, or post your question in the comment box below.

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By: Charles Woodall
Managing Broker

http://www.dothanhomesearch.com

Several weeks ago, I was asked in my capacity as President of the Dothan Assocation of REALTORS to comment for a newspaper article on the state of the Dothan real estate market. In particular, I was asked what advice we are giving potential home sellers during this slowdown in sales. I will try?to expand on those thoughts a little in this space.

First, if you don’t have to sell right now, you should wait six months to see what happens. And by having to sell, I mean either you are relocating out of the area for work reasons, or facing foreclosure. If you can think of any other reason someone would have to sell, let me know. Not only is the market glutted with homes for sale, we are entering into?what is?historically the slowest time of the year for sales, two compelling reasons to wait and re-examine the real estate market climate in the spring of 2008.

Second, if you do have to sell right now, make sure your chosen real estate professional has done a competitive market analysis that includes homes sold in the past three months. Going back six months is acceptable only if there aren’t enough comps within the past 90 days, but going back beyond six months will not give you a true picture of the market. Also, an appraisal is probably not going to give you a true picture of the market value of your home, as it doesn’t take into account market conditions.

Once a target price range is determined, your agent must also look at comparable homes on the market, or homes for sale that you will be competing against. You and your agent will have to determine how the best way to showcase your home to take advantage of your competition. With current market conditions, the easiest way to set yourself apart is by pricing slightly below market value. Yes, that cuts into your equity, but so does having your home sitting on the market for five or six months while you are trying to relocate to another area. In addition to price, you can set your home apart from the competition through curb appeal, amenities, and staging. Your real estate professional should be able to help you determine your best options.

The bottom line for home sellers in Dothan right now is that for the short term, selling your home is going to be tough. You will have to be motivated and open to options to get it done. If you don’t have to sell right now, let’s wait and see what springtime brings us.

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By: Charles Woodall
Managing Broker

http://www.dothanhomesearch.com

This post is a response to a post by Greg Swann over on BloodHoundBlog?that was a response to a comment I left on another post.?Due to readability issues, I thought I would post?my latest response?on?this website instead of leaving a comment to his post. Another benefit…I’ll get some traffic as Greg attempts to pummel me into submission!

So, point by point in Greg’s latest post, here goes.

Charles?>> Changing the real estate business in the grassroots effort you suggest would be a slow process as well.

Greg > I know you?re not joking with me, but are you aware of how quickly the real estate industry is changing right now? None of this is happening through the NAR cartel.

I am keenly aware of how much and how fast the real estate industry is changing. Don’t believe me? Ask some of my competition around Dothan to name the brokerage company that takes the lead on adapting new technology and strategies.?I agree with you that NAR is not leading this change.

Charles?>> it would literally take thousands or ten of thousands of people to make it happen.

Greg > Shazam! Here we are. BloodhoundBlog is just a part of the changes taking place, but we talk to tens of thousands of unique souls every month.

Let me rephrase. It will take the mobilization of thousands to make it happen. People reading about it is one thing. Those people acting on it is quite another. Not saying it can’t be done, but?it ain?t?there yet.

Charles?>> We already have a powerful trade organization in place, so getting a few hundred people involved would be easier, in my humble opinion.

Greg > You?ve already talked about how it was virtually impossible for you to make an obviously necessary change. The NAR exists to milk agents, consumers and the taxpayers, in that order. It will not even try to do anything else until it is much too late to make any difference.

It was impossible for four plus years. Then, the right people in the right positions of leadership rallied the troops and got it done.

Charles >> While your thoughts are noble, and I agree on several points, until leadership in REALTOR associations on the local and state level want to move into the 21st century, it just isn?t going to happen.

Greg > It?s not going to happen.

If NAR and the state and local associations are to change, it will be because enough people who want change become involved, move up in leadership, and build the forces necessary to make change. If leadership continues to be the ‘old school’ agents who have been doing things their way for decades, then NAR on down will become ineffective and will fade away.

Charles >> Folks such as yourself getting involved will be required.

Greg > First, people like me will never get involved with the NAR. I personally am deeply philosophically opposed to what I consider to be the criminal objectives of the NAR, but even someone less philosophically fastidious is going to achieve far better results by improving his own mind, rather than wasting vast amounts of time trying to herd mental dinosaurs toward a future they despise and think they can avoid.

I don’t know how to respond to that, other than to say I?am disappointed in your stance. Are you a member of your local association and NAR? If so, why?

Greg > I started this meta-debate because I think that both occupational licensing and the NAR cartel are doing a poor job of protecting consumers from stupid and/or inexperienced and/or larcenous practitioners

I completely and heartily agree with you?that occupational licensing does not protect the consumer. It is entirely too easy to get a real estate license. It?takes 25 times the pre-license education in the State of Alabama to get a cosmetology license versus a real estate license. There’s some bulletin board material for you. It is easy to see that there is too much incentive on the part of NAR not to support raising the standards of entry into the real estate industry. Ultimately however, it is the responsibility of the broker, not NAR, to protect consumers from inept practitioners.

Greg > But even ignoring the criminal objectives of the NAR cartel, I can?t think of a thing it does that it should be doing, nor can I think of anything it does as well as even a mediocre business would do it.

In my eyes, NAR is a trade organization that exists to support its members and promote issues that are important in their members business. In this context, NAR has done a good job.

I want to give you a couple of examples of something good that the Alabama Association of REALTORS has done for my business. First, AAR pushed a bill in the Alabama Legislature this past spring that keeps me from having to buy a business license in every municipality?where my company?or my agents list or sell property. The savings to me as a company amounts to about $1,000 per year. The savings to my agents is somewhat less. In other areas of Alabama,?many brokers are now saving thousands of dollars every year. Subsequently, some municipalities have tried to charge a permit fee for yard signs to recoup some of their loss since this law went into effect. AAR has lead the fight to defeat these efforts.

In recent years, there have been attempts by the Alabama Legislature to enact a tax on real estate commissions in the State of Alabama. Again, AAR has lead the charge to defeat these efforts, saving me and my agents from having to give up even more of our income. I don’t know what the exact dollar amount is that AAR has saved me since I joined in 1999, but I do know that in both of these instances, I could not have procured the same result by myself. Don’t get me wrong, I am not saying that NAR, AAR, or any other state or local association is the best it can be and doing everything it can and should be doing, but as trade associations go, they get a thumbs up from me just for the amount of money saved through their efforts. And that is not to mention efforts in other areas, such as property insurance reform on?the beautiful Alabama?Gulf Coast or Landlord-Tenant relationships,?that I am certain we will see benefits coming.

That’s all I have. I respect your ideas and your stance, as I?hope you will respect mine. As the saying goes, we’ll have to agree to disagree. At the end of the day, I think our goals are pretty much the same. In our office, we work everyday on ways to out work our competition and deliver exceptional service to our clients and the public. I have no control over what NAR or my competition is doing, and it doesn?t really matter anyway. If they refuse to change, that will mean more business for my company. At this moment in time, I am getting enough benefits from NAR to justify the cost, and yet I?realize that I shouldn’t rely on them to build my business for me. It is up to me to do that.

My condolences to you and your wife on the loss of her father.

Posted by Charles Woodall | Currently 2 Comments »

By: Charles Woodall
Managing Broker

http://www.dothanhomesearch.com

Another month, another significant jump in the number of homes on the market. It is well documented on this site how inventory has been steady increasing over the past 18 months. However, just in the past three months we have experienced an increase of nearly 14%, up to 885 homes listed at the end of August. Click on the thumbnail to the right to see the market stats.

At the same time, the number of homes sold in August fell almost 25% compared to August of 2006. Days on the market remained steady at 107 days average.

Other significant trends from this months report-

??? Percent of list price received by sellers dropped over 1%. That is the biggest drop in a single month when comparing last year to 2007 since March.

??? Median price for the year-to-date is still up over 2006, although by less than one percent. Still, with everything that is going on, that is certainly not bad news.

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By: Charles Woodall
Managing Broker

http://www.dothanhomesearch.com

A couple of situations have arisen recently that cause me to remind everyone of a fact about living in the great State of Alabama. We live in a caveat emptor, or buyer beware, state. What this means is that consumers in the State of Alabama must satisfy themselves as to the condition of the product they are buying, whether it is dinner at your favorite restaurant, a piece of furniture, a car, or a home. Granted there are but a few buyer beware states remaining, but Alabama is one of them.

So how does this effect buyers of homes or land? Well, it puts the burden on the buyer to check out any issue or attribute of the property that would be of material interest to them in determining whether or not they will purchase the property. For example, when a buyer makes an offer on a property, they should specifically state in the offer that they have the right to inspect the property to determine that the condition is to their satisfaction. Also, when a purchase of land is considered, the buyer is responsible for determining that the land being purchased is suitable to their needs, including checking restrictions, zoning, etc.

Most real estate professionals are conscientious enough and have adequate training to help consumers deal with these issues. If you are considering purchasing a home or land, you should consider working with a professional who deals with these issues on a daily basis. You can find a group of real estate agents that have the training and the real estate knowledge to work for and represent your interests here on our website by clicking on The Key Team page.

Put the expertise and training of a seasoned real estate professional on your side and avoid the potential pitfalls of purchasing property in a buyer beware state.

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By: Charles Woodall
Managing Broker

http://www.dothanhomesearch.com

Thinking of retiring or moving to Florida? Before you do, take a look at what southeast Alabama?and the Dothan area has to offer. You may find Dothan has a lot more to offer.

Six reasons owning property and living in Alabama is as good or better than owning and living in Florida.

Property Taxes

Property taxes in Alabama, especially south Alabama, are among the lowest in the nation. For example, for a three bedroom, two bath home with an appraised value of $200,000, the property taxes would be in the range of $300 - $400 per YEAR. Compare that with Florida which could be ten times that amount.

Traffic

Yes, we have traffic just like everyone else. However, you can still get around without much trouble. A trip from the southernmost city limits?of Dothan to the northernmost city limits?can be accomplished in under 30 minutes at any time of day.

Parcel size

If you are looking for space to spread out, then south Alabama has probably got it. Unlike south Florida where the only affordable piece of dirt is likely a 60′ by 100′ lot, there is a good bit of undeveloped land all around the Dothan area, and in most cases you?can find the size you desire. Acreage in the larger parcels (20+ acres) will run anywhere from $5,000 to $10,000 per acre. There are smaller parcels available which might cost slightly more per acre.

Cost

The overall cost of living is lower in south Alabama.? Homeowners and auto insurance are two examples. In the second quarter of 2006, the cost of living composite rate for Houston County (Dothan) was 86.4, the lowest in Alabama.* A typical three bedroom, two bath, 1800 square foot home in our market will typically cost no more than?two thirds?the cost of a comparable home in most of Florida.

Hurricanes

Yes, we do feel the effects of the occasional storm blowing in out of the Gulf of Mexico. We are only 90 miles for the coast you know. But the effects are usually minimal. Sporadic power outages and a few downed trees and power lines are usually the worst we see. A direct hit on the Florida Panhandle by a?powerful storm headed in our direction would cause more extensive problems, but that hasn’t happened since Opal in 1995 and Eloise in 1975 if memory serves.

Recreation

See #5 above regarding proximity to the Gulf Coast beaches. You can leave Dothan and be sitting on the sand in under two hours. There are also several high quality golf courses in the area, and Alabama has the Robert Trent Jones Golf Trail for the golf junkies out there.?Lake Eufaula, less than an hour to the north, and Lake Seminole, about an hour to the southeast, are wonderful fresh water impounds for recreation and fishing.

Have you retired or moved to Dothan recently and have something to add to this list? Let us know by commenting below.

*Source - Dothan Area Chamber of Commerce - http://www.dothan.com/

Posted by Charles Woodall | Currently 3 Comments »

By: Margaret Patrick
REALTOR Associate

http://www.dothanhomesearch.com

Events coming up this weekend, or in the near future around Dothan and the Wiregrass

17th Annual Wiregrass Model Train Show?Saturday and Sunday at the National Peanut Festival Fairgrounds. Hours are 9 am - 5 pm Saturday and 10 am - 4 pm Sunday. Admission is $5 for adults. Children are free. More than 140 tables of model railroading equipment and supplies are expected to be available. Hourly door prizes will be given away and concessions will be available.?

“Yard Gal” will be performed at the Featured Players Theatre each Friday and Saturday through Sept 29.? Doors open at 6pm and shows start at 7pm. Admission $12.00. Call 334?673-1243 for more information

The Cole Brothers Circus of the Stars is bringing the big top to Dothan Sept 26-27 at the Houston County Farm Center.? Daily performances will be at?4:30 and 7:30. This year’s circus will include Moto-Globe of Death, Beijing’s Bungee Divers, the Ponce Family Flyers, juggling by the Kim Brothers, Ukraine’s Zarina and the Bermudez Clowns.

Old Town, a unique facility to have your next party or reunion or children’s?functions, call 334?792-0770 Old Town features authentic “Wild West” shootouts! County Rd 70 just west of Dothan.? .

Yoga Classes - taught by Cathy Deloney. Beginner and intermediate level Yoga for fitness and relaxation call 334?615-3760 for times and locations.

Computer Classes for Senior Adults are offered at Rose Hill Senior Center for anyone age 50 and older.? All classes willmeet for one day from 10:00 to 3pm. There will be an hour lunch break from noon to 1 pm.? The cost of each class is $25.00.? Call 334?615-3740 for information or registration.

Karate - offered year round.? Registration taken at the beginning of each month.? Classes for adults and children are taught by 5th degree Black Belt, Mike Culbreth. Call?334?615-3760. In November?the Southern Region Open Karate Tournament will be held.

Scarecrows in the Gardens will return to the Dothan Area Botanical Gardens in October. Scarecrow building competition is open to the public and $100. cash prize will be awarded to 5 categories. Entry fee is $20. and all entries must be placed by Sept 29. For more info call - 334-793-3224.

If you know of any other events coming up around the Dothan area, please let us know by leaving a comment below.

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