Magnolia Realty's Auburn Area Real Estate Update: March 2012

I found this informative article that should help give you direction in buying your first piece of real estate. As an Accredited Buyer's Representative, I am knowledgeable about the marketplace and look forward to representing you. Please contact me with any additional questions you may have regarding first-time buyer tips. I am a great real estate resource! Continue to tips : Maybe you've been eyeing the real estate market and you think that you're finally ready to purchase your first home...if so, read on to be sure you're in the best position. The rules have drastically changed in the real estate market. At one time, getting a mortgage seemed to require little more than just simply stating your income on paper. Today, the credit tightening continues. Banks want extra documentation that you can truly afford the home you want to buy. But don't let that scare you. Your dream of becoming a homeowner is still a viable option. Here are a few tips to help you achieve your dream. First take a good look at your credit. It's sad, but true, many people have no idea how their credit reports look. They can't remember if they've ever seen their report and they don't know their credit score. Unfortunately, that puts buyers in a poor position. If there are errors on their credit reports, those must be handled before you try to purchase a home. Sometimes there are marks that truly shouldn't be on your credit. Other times there are knocks against your credit that you may be able to get removed. Check your credit score at least three to six months before you apply for a mortgage. This will give you time to address any issues. Start saving now. These days a downpayment for a home doesn't come easy. You may need as much as 20 percent down. However, there are still some loan programs that will allow you to put down much less. Make sure you are working with an experienced team of real estate professionals. This kind of purchase requires lots of information, education, and knowledge. Having a team of industry professionals to guide you through the first-time home-buying experience will make the process so much easier. When you're preparing to buy a home, if you haven't already, make a budget and start watching where every dollar goes. It's amazing how few people do this. It's even more amazing to see how much money is wasted. Those extra trips to the coffee shop, the donuts in the morning, the manicures, or shopping sprees, all are areas where you can likely cut back to save for your downpayment. Picture your home. It might sound silly but you need to envision the home you want to buy. This will help you tremendously once you start your search. Start looking online, in magazines, and around your chosen neighborhoods. You can even use online tools like Pintrest.com to pin images and videos you see on an online storage board to refer to later. This is a great tool for collecting photos of home decor. The point here is to make sure you have an idea of what is important to you in a home. Since you've been renting, this might not be crystal clear at first. But as you make your list and explore homes with your agent, you'll begin to see which things are deal breakers and which things are a must-have. Buying a home is like looking for the right relationship. It can be exciting at first, frustrating at times, and so comforting once you've finally found the right one. Happy house hunting! by Phoebe Chongchua

AUBURN, Alabama -- SiO2 Medical Products will invest $90 million in a new facility that is expected to add up to 300 new jobs in Lee County, according to a release from Gov. Robert Bentley's office. The release referred to the jobs as high-tech positions and said the company will supply the medical industry with products for the biological drugs industry. The company’s products and related processes are protected by 37 patents worldwide. The Retirement Systems of Alabama is cited as a partner in bringing the project to fruition. "The RSA has worked on this project for two years and the financing closed last week," said David Bronner, RSA's chief executive office. “The patented product represents a major breakthrough in healthcare," Bronner said. "This project is one that will be recognized worldwide as the type of company Alabama needs to continue to recruit with its high-paying and stable jobs.” The release said SiO2 has had ties to Auburn since 1994. Auburn Mayor Bill Ham Jr. said the city is grateful for the job creation. “We are extremely proud that the company found in Auburn a place to assemble and grow a team that would lead to today’s announcement,” Ham said.

Keep Opelika Beautiful will present the Garden in the Park Festival on Saturday, March 31, 2012 at the Opelika Municipal Park from 8:00 a.m. to 3:00 p.m. This arts and craft style event will feature a variety of vendors, children's activities and entertainment. Garden in the Park is a fundraiser to benefit the little red caboose located at the Depot in Downtown Historic Opelika.

LEE COUNTY HOUSING STATS FEBRUARY 2012 ALL AREAS: 807 Houses on the Market this month 48 Properties sold 171Average days on the market 174 New listings $172,450 Median Sold Price $190,836 Average Sold Price $9,160,139 Total Property Sales Sold Dollar Volume AUBURN: 420 Houses on the Market this month 27 Properties sold 161 Average days on the market 103 New listings $211,800 Median Sold Price $242,828 Average Sold Price $6,556,350 Total Property Sales Sold Dollar Volume OPELIKA: 214 Houses on the Market this month 11 Properties sold 200Average days on the market 36 New listings $150,000 Median Sold Price $126,692 Average Sold Price $1,393,615 Total Property Sales Sold Dollar Volume CONDO – FEBRUARY 2012 ALL AREAS: 364 Condos on the Market this month 15 Properties sold 228 Average days on the market 71 New listings $120,000 Median Sold Price $134,683 Average Sold Price $2,020,250 Total Property Sales Sold Dollar Volume AUBURN: 356 Condos on the Market this month 15 Properties sold 228 Average days on the market 71 New listings $120,000 Median Sold Price $134,683 Average Sold Price $2,020,250 Total Property Sales Sold Dollar Volume OPELIKA: 5 Condos on the Market this month 0 Properties sold 0 Average days on the market 1 New listings $0 Median Sold Price $0 Average Sold Price $0 Total Property Sales Sold Dollar Volume LOTS – FEBRUARY 2012 ALL AREAS: 647 Lots on the Market 15 Lots sold 530 Average days on the Market 31 New listings $ 45,000 Median Sold Price $ 66,108 Average Sold Price $462,756 Total Lot Sales Sold Dollar Volume

Ellen Faurot, Realtor, of Magnolia Realty, LLC., has just been informed that the Real Estate Buyer’s Agent Council (REBAC) has conferred the Accredited Buyer’s Representative (ABR®) designation to her. She is perfectly positioned to help buyers in their search for properties in the Auburn/Opelika/Lee County area