Mobile AL Real Estate News and Trends - Foreclosure Activity

Dec. 10, 2009	A real estate report by First American CoreLogic on home sales, price trends, and foreclosure activity

More information about First American CoreLogic can be found at www.facorelogic.com/newsroom/newsroom.jsp.
Contact: Lori Guyton · (901) 277-6066 · lguyton@cvic.com

FORECLOSURE ACTIVITY Mobile, AL 90+ Day Delinquency Rate Foreclosure Rate REO Rate October 2009 7.51% 1.48% 0.34% September 2009 7.22% 1.41% 0.34% August 2009 6.96% 1.34% 0.35% July 2009 6.65% 1.32% 0.31% June 2009 6.43% 1.27% 0.36% May 2009 6.22% 1.25% 0.32% April 2009 5.94% 1.22% 0.35% March 2009 5.75% 1.17% 0.35% February 2009 5.87% 1.09% 0.41% January 2009 5.79% 1.04% 0.39% Source: First American CoreLogic. Foreclosure Rates in Mobile Increase Foreclosure rates in Mobile have increased for the month of October over the same period last year, according to First American CoreLogic, the leading collector of national, state and local data on home prices, foreclosure and delinquency activity, real estate sales volume and mortgage loan activity. According to recent data from First American CoreLogic on foreclosures for the Mobile area, the rate of foreclosures among outstanding mortgage loans is 1.48 percent for the month of October, an increase of 0.71 percentage points compared to October of 2008 when the rate was 0.77 percent.* Foreclosure activity in Mobile is lower than the national foreclosure rate which was 3.02 percent for October 2009, representing a 1.54 percentage point difference. Also in Mobile, the mortgage delinquency rate has increased. According to First American CoreLogic data for October 2009, 7.51 percent of mortgage loans were 90 days or more delinquent compared to 4.86 percent for the same period last year, representing an increase of 2.65 percentage points.* * Data and percentage point differences are rounded to the nearest tenth and may appear to affect calculations.   Location 90+ Day Delinquency Rate October 2009 90+ Day Delinquency Rate October 2008 Change in 90+ Day Delinquency Rate Foreclosure Rate October 2009 Foreclosure Rate October 2008 Change in Foreclosure Rate REO Rate October 2009 REO Rate October 2008 Percentage Point Change in REO Rate Alabama 5.73% 3.55% 2.19% 1.28% 0.66% 0.62% 0.38% 0.54% -0.16% Mobile, AL 7.51% 4.86% 2.65% 1.48% 0.77% 0.71% 0.34% 0.43% -0.09% US 7.70 4.54% 3.16% 3.02% 1.70% 1.32% 0.45% 0.80% -0.34% Source: First American CoreLogic. Data Notes and Definitions 90+ Day Delinquency Rate: This measures the percentage of loans that are more than 90 days delinquent including those in foreclosure and REO (real estate owned). Foreclosure Rate: This measures the percentage of loans in some stage of foreclosure including 90+ delinquencies through properties sold at auction. This does not represent the number of new foreclosure filings as provided by other data companies, but rather the current stock, or inventory, of loans in the foreclosure process which offers a comprehensive view of foreclosure trends. REO (Real Estate Owned) Rate: This measures the percentage of loans not sold at auction which are then returned to the lender. Foreclosure data for First American CoreLogic is reported based on the actual number of active mortgage loans rather than the total number of households in a given area, which provides more accurate results by removing paid-in-full mortgages from the equation.

ABOUT FIRST AMERICAN CORELOGIC: First American CoreLogic, a member of The First American Corporation (NYSE:FAF) family of companies, is the largest provider of real estate, property and ownership data and advanced analytics for information on foreclosures, delinquencies, median home prices, home price indices, home valuations, sales activity and mortgage loan originations.  The market-specific data covers 7,607 ZIP codes, 958 Core Based Statistical Areas (CBSA) and 3,050 counties located in all 50 states and the District of Columbia.  This data represents 99 percent of the United States population, 140 million (97 percent) of all properties, more than 50 million active mortgages and $2 trillion in loan-level, non-agency mortgage securities.  First American CoreLogic products and services enable customers to better manage mortgage risk, protect against fraud, acquire and retain customers, manage credit risk, mitigate loss, decrease mortgage transaction cycle time, more accurately value properties and determine real estate trends and market performance.  More information about First American CoreLogic can be found at www.facorelogic.com. © 2009 First American CoreLogic, Inc.  All rights reserved.

Open House - Sunday 12/13/2009 - 2:00 - 5:00 pm - 9400 Homestead Drive S - Semmes, AL

Please join us at a special viewing of this property. We will have all the information about the property at the site as well as available financing terms. Stop by and visit even if you just want to get an idea of property values in the area.



No Obligation. No Hassle. No Kidding.

Thank you.

This month in real estate

This month in real estate is monthly video released by Keller Williams Realty.  Please click below to watch. 

I have a hand out the defines the benefits available in the extended tax credit for qualified home buyers.  Please e-mail me or call me at 251-215-9382 if you want a copy of this hand out.
 

Mobile County Real Estate Sales by Area - November 2009

The real estate sales activity level for November 2009 in Mobile County dropped by a total of 80 from October 2009 sales figures. Please check the table below for real estate sales activity for the number of sales and sales dollar amounts for month of November 2009 in Mobile County for residential sales - single family and condominiums. The table will show the following data elements: the area of the county, the number of sales, the total amount of sales, and the average sales price. This data was retrieved from the Mobile Area Association of Realtors MLS information. You can see a map of Mobile showing the MLS areas by clicking here. Please let me know if you have any questions or need additional information for your area of town.

Mobile MLS Area	# of Sales	Total Sales Dollars	Avg Sales Price
01 Downtown	2	$198,000	$99,000
02 Midtown South	6	$1,205,000	$200,833
03 MidTown East	12	$1,885,400	$157,117
04 Dauphin Island Pkwy North	4	$144,100	$36,025
07 MidTown West	7	$983,200	$140,457
09 MidCentral	5	$171,000	$34,200
10 Eight Mile/Prichard	3	$300,900	$100,300
11 Chickasaw	4	$272,500	$68,125
14 Municipal Park/West Central	16	$1,641,123	$102,570
15 Springhill/USA	13	$2,273,650	$174,896
16 Cottage Hill North	22	$3,391,300	$154,150
17 Cottage Hill South	15	$2,243,100	$149,540
18 West Mobile	21	$3,091,460	$147,212
19 Tillman's Corner	14	$2,047,230	$146,231
20 Western Bay Shores	4	$678,500	$169,625
21 Dauphin Island Pkwy South	5	$224,000	$44,800
22 South Mobile County/Theodore	21	$2,649,650	$126,174
23 Grand Bay North	4	$578,000	$144,725
24 West Mobile County	28	$4,264,826	$152,315
25 West Mobile/Semmes	14	$2,024,150	$144,582
26 Semmes/Wilmer/Lott Rd	14	$1,804,785	$128,913
27 Saraland	10	$1,313,400	$131,340
28 Saraland/Satsuma/Axis/Creola	10	$1,471,950	$147,195
29 NE Mobile County/Mt. Vernon	1	$31,200	$31,200
30 Dauphin Island	4	$882,500	$220,625
31 NW Mobile Cty/Citronelle	2	$244,900	$122,450
Total	261	$36,068,624	$138,194

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National Association of Realtors - Local Market Reports - Mobile Alabama

As a member of the National Association of Realtors, I have access to a number of different real estate reports and statistics.  One report that I find fascinating is the Local Market Report.  This report reflects data available through 2nd Quarter 2009.  This report provides insights into the fundamentals and direction of the Mobile Alabama housing market.  The report evaluates a number of factors affecting home prices, including: 

• The health of the local job market
• Foreclosure rates
• Housing inventory
• Debt-to-income and mortgage-servicing-costs-to-income ratios

Please call me at 251-215-9382 or e-mail me if you would like a copy of the current report.

Alabama Housing Statistics - Mobile County - November 2009

The following data represents Mobile County real estate transactions and listings as reported Mobile Area Association of Realtors/MLS:

Number of Houses Sold	261
Average Selling Price This Month	$ 138,194
Average Days on Market - Solds	79
Average Days on Market - Actives	135
Number of Houses on the Market	3,583
Median Sales Price this Month	$ 125,000