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The Latest from Orange Beach Blog

Monday, January 24, 2022   /   by Leigh McPherson

Featured Property of the Week!

The Orange Beach, Gulf Shores and Perdido Key condo market is rapidly changing. To keep our clients in the know, I will feature a specific property, condominium building or neighborhood each week. 
Today let's take a look at the Orange Beach landmark resort, Caribe.
Caribe is composed of three towers, B, C, and D. Yes, there is no A building!;) 
What makes Caribe unique is the plethora of amenities!


Here's a tour of one of the many Caribe units that the Leigh McPherson Team has sold.  This one is no longer available, but there are more!
Just reach out to us via text, telephone or email and we will get you up to date and arrange a private tour.  If your dream unit isn't listed, then we will go get it for you. 



Caribe, The Resort

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Tuesday, January 11, 2022   /   by Leigh McPherson

So - How much money can I REALLY make from my rental property?

In our little corner of paradise, buyers often raise this question about their prospective property purchase:  Can I really make money on this?
The answer is... It depends!   
What you actually put in your pocket at the end of the year depends on multiple factors.
Most buyers shop initially by price. With a cash sale, buyer closing costs will be nominal.  If buyers are getting a loan, then the amount of down payment, the interest rate you lock in, and the other loan terms and fees you secure factor in to your initial purchase.  However, with record low interest rates, it has become attractive to investors to leverage the bank's money.
Other factors:
*Property taxes
*Monthly Condo Fees
*Utilities (some basic utility costs are included in monthly condo fees)
*HO6 Insurance (covers contents and liability) 

Click below to see a sample cash flow example.  We are happy to provide you a personalized analysis - just call, text, or email us with t ...

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Tuesday, January 11, 2022   /   by Leigh McPherson

News from our Lender Partner

Happy January!!!! I wanted to make sure you all had the updated conforming limits for 2022!! The max conforming limit is now $647,200 (flyer attached) and FHA has gone up to $420,680!! 

Also, both agencies – Fannie and Freddie put out a letter stating that starting in April there will be an adjustment to second home interest rates. They are adding on what they call loan level price adjustments so rates will be going up on second homes.

 

Looking forward to a fantastic 2022!!!

  ...

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RE/MAX of Orange Beach | Leigh McPherson Team
Leigh McPherson
26021 Perdido Beach Blvd
Orange Beach, AL 36561
251-975-3340

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