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Real Estate Defined: Homeowners Association

Posted on June 20, 2025

Established to create uniformity, care for the community and more, a homeowners association can be a big part of homebuying. From deciding whether to live in a neighborhood with a homeowners association to choosing one that fits your needs, keep reading for everything you need to know.

What is a homeowners association?

A homeowners association (HOA) is a group of homeowners within a particular area whose purpose is to ensure the provision and maintenance of community facilities and enforce property rules.

HOAs are run by volunteers and usually collect a monthly or annual fee. Residents pay these fees to cover the maintenance and upkeep of the community.

When purchasing property within an HOA’s jurisdiction, you become a member. The rules of each HOA vary, meaning some associations can be very restrictive while others allow their residents more liberties.

HOAs and their effect on property value.

A well-maintained and clean community offering useful amenities typically positively affects property value. With these benefits, homes can be seen as more desirable.

However, an HOA with high fees or a poorly managed community can deter potential residents, potentially decreasing property value.

Benefits of an HOA.

When deciding where to live, homeowner associations can provide many benefits. Under the management of an HOA, the burden of maintaining the community and dividing upkeep tasks is taken off of the homeowners.

By maintaining a cohesive appearance, an HOA can enhance community marketability. Additionally, an HOA manages and maintains community amenities such as pools, gyms, and parks. Some homeowner associations may also offer enhanced security measures like gated entries.

Challenges of an HOA.

On the other hand, living in an HOA can pose some challenges, including additional costs, strict rules or possible disputes among the board and homeowners.

The good news is that an experienced REALTOR® can offer guidance and help you understand more about the HOA in the neighborhood, townhome community or other residence you are considering.

Summary

The bottom line is that owning a home comes with my responsibilities, including living in an area with a homeowners association. Need help navigating these decisions and finding a home? Connect with one of our skilled LCAR members for all your real estate needs.

For more real estate news and information, continue reading our blogs.

The Difference Between a Title and a Deed

Posted on May 21, 2025

When buying or selling a home, “title” and “deed” are often used interchangeably. However, they mean different things. Understanding the difference between a title and a deed is vital in real estate transactions.

House title

The title to a house and property makes you its legal owner, giving you the right to sell it. It also allows you to live on or use the property per the zoning laws.

A title company or an attorney issues a house title after conducting a title search to ensure there are no outstanding claims or disputes over the property’s ownership. This is an essential part of any real estate transaction and helps safeguard home buyers and mortgage lenders from title defects and potential losses, such as outstanding liens, conflicting wills and unpaid taxes.

More specifically, when one person holds the title, it is called a “sole ownership,” whereas when more than one person holds the title, it is called a “joint tenancy.” This type of title is often chosen by two people who are married or partners.

A deed

Continuing with the difference between a title and a deed, the deed to a property is a legal document that transfers the ownership of a property from one party to another. Both the buyer and the seller must sign this document. It must then be recorded in the public records of the local county government.

A deed needs to state who the grantor or seller is and who the grantee or buyer is. It must also contain a sufficient description of the house and property, including property lines. Additionally, a deed needs to comply with the laws of the community.

There are many different types of deeds. This includes:

General Warranty Deed
Special Warranty Deed
Bargain and Sale Deed
Grant Deed
Quitclaim Deed

Summary

In summary, the difference between a title and a deed is that the title is a legal document that confirms ownership of a property and outlines the rights associated with that ownership. In contrast, a deed is a legal document that transfers ownership from a seller to a buyer.

Do you need help along your real estate journey? Continue reading our blogs for more information and tips, and keep up with LCAR on Facebook, X, Instagram and LinkedIn.

6 Home Warranty Benefits for Homeowners

Posted on April 21, 2025

A home warranty is the best way to protect your home and your investment. Home warranties can help keep your home looking its best and ensure everything in it, like appliances, is in working order. Whether your home is new or old, discover these six home warranty benefits for homeowners.

Home Warranty vs. Home Insurance

First and foremost, note that a home warranty is not the same as home insurance. A home warranty is a contract between a homeowner and a home warranty company that provides discounted repair and replacement services on a home’s major appliances, including your HVAC system, furnace, plumbing, electrical and other appliances.

Home insurance, on the other hand, protects your home against unforeseen damage caused by natural disasters. This can be damage caused by hail, high winds, rain and more. However, it will not help cover normal wear and tear on your home.

Reasons To Have a Home Warranty for a New Home

Your home warranty coverage does not change based on the age of your home. But your reasons for a warranty may vary depending on the age of your home. For new homeowners, check out these three reasons to consider a home warranty.

Protect expensive appliances.

Many new homes come with new appliances. A home warranty can help protect those appliances if something stops functioning or needs fixing. With this coverage, many household appliances can be repaired or replaced with a comparable item.

Home system repairs.

Although new homes may have fewer issues than older homes, they still have maintenance concerns. For example, if your garage door isn’t working, your toilet won’t stop running, or your garbage disposal is clogged, your home warranty can help cover the cost of a service visit or repairs.

Handyman services.

Not sure who to call to repair an appliance? Your home warranty company has agreements with approved service providers. If one of your appliances breaks and is covered by your home warranty, contact the home warranty company. They will send a technician to assess the situation. Once your coverage is confirmed, they will arrange for the repair or replacement of the appliance for a small service fee.

Reasons To Have a Home Warranty for an Older Home

Older homes may have more pop-up and planned maintenance projects than newer ones. To account for this and other cosmetic details that may arise due to age, here are three home warranty benefits for homeowners of older homes.

Repair of aging home systems.

Certain components of your home systems can deteriorate, even with routine maintenance. If a home system dies due to age, a home warranty can often help with the repair or replacement expenses.

Replace older appliances.

Are your aging appliances suddenly not keeping up with household demands? It may be time to replace them. Fortunately, a home warranty can help pay for new appliances without disrupting your household budget.

Home exterior maintenance.

If the older home you fell in love with needs some exterior work, a home warranty means using their handyman services to assist with the upkeep of your home’s exterior, from pressure washing to landscaping.

Summary

Even though a home warranty isn’t the perfect solution for every risk or hidden cost of owning a home, there are many home warranty benefits for homeowners. Ultimately, things can go wrong, and a home warranty can be the difference between draining your savings or paying a small fee and avoiding unexpected expenses.

Need guidance? Connect with a Lee County Association of REALTORS member, and continue reading our blogs for more.

In the News: An Update on Alabama REALTORS Bills in the Legislature

Posted on March 21, 2025

The first quarter continues to be busy and productive in Alabama real estate—from emerging trends to bills filed with the Alabama Legislature! If you haven’t had a chance to catch up on the latest news, review our update on Alabama REALTORS® bills in the legislature so far this session.

About Alabama REALTOR® Priorities

As the Alabama real estate market undergoes significant changes, the Alabama Association of REALTORS® is promoting three bills to help clarify real estate matters for Alabama consumers and real estate professionals.

From license laws to battling real estate scams, three main Alabama REALTORS® bills are now taking priority. According to news from Alabama REALTORS®, each bill will—or has been—filed separately as they move through the legislature.

Three license law proposals

As we continue with an update on Alabama REALTORS® bills, let’s recap what the three bills propose and the current status. The first bill deals with buyers’ agreements. The second bill will update RECAD and other license laws on several issues, while the third focuses on education and broker license requirements.

Bill One – Buyers Agreements

The first bill introduced, HB 230, clarified the timing of buyer agreements. It protects consumers from being bound by early contracts and emphasizes the importance of discussing brokerage services and compensation upfront while adhering to Alabama’s RECAD structure.

The bill states that buyers in Alabama cannot be made to sign a legally binding agreement to view a home. It does require a written buyer agreement before any purchase offer, ensuring clear representation terms and promoting transparency for consumers and Realtors.

This bill passed the House in the second week, has passed the Senate, and is awaiting Governor Ivey’s signature. It is expected to become law within 30 days of signing. No delays are expected, so AAR anticipates it becoming state law in April.

Bill Two – RECAD and Teams

The second bill outlined updates for RECAD and additional license laws. The main expectations for this bill include dual agency changes, one-year listing agreements, reasonable requirements on teams, failed payments to AREC and definitions and disclosure updates.

Bill Three – Education and Broker License Requirements

The third bill addresses education and broker license requirements, including multiple revisions to the current language, such as grammatical corrections, editing redundant information and similar corrections, nothing substantive.

Furthermore, the bill will allow AREC to approve distance education courses with certain requirements for pre-licensure/post-licensure and CE-only courses, including approving one-hour CE courses.

It also proposes raising the requirements for qualifying brokers. Bill Three mandates that applicants complete a qualifying broker course and hold a license for four years instead of two.

Summary

While this update on Alabama REALTORS® bills provides a brief overview, visit the Alabama REALTORS® Capital News & Notes page for more background, details and future updates from week one through week five, including the next edition on March 25.

Whether you are a consumer or a Realtor, read our blogs for more real estate news, local market statistics and other tips from home buying and selling to owning.

Real Estate Defined: Types of Contingent Offers

Posted on February 21, 2025

Before we explore the various types of contingent offers, let’s clarify what a contingency is. A contingency, or contingent offer, means specific conditions must be met before the sale proceeds. Otherwise, the contract is void and the seller can consider other offers.

Home inspection contingency

A home inspection contingency helps protect the buyer if the home inspection uncovers certain issues, allowing the buyer to back out.

A home inspector will assess the home’s condition, looking at all aspects, including unnoticeable details and things buyers might not consider. If the inspection reveals major flaws in the home’s interior or exterior specified in the contract, the buyer can back out or request repairs or a lower purchase price.

Mortgage contingency

Giving the buyer a specific period to secure home financing is known as a mortgage contingency. Typically, this contingency is done early in the process, but you will want to ensure you have been pre-approved for a mortgage.

Appraisal contingency

An appraisal contingency happens most often when you are taking out a mortgage. This is because lenders require an appraisal, which is a third-party assessment of what the home is worth.

Even if both buyer and seller agree on a sales price, your lender can’t offer you a mortgage for more than the home’s appraisal. But, hope for a sale isn’t lost. Buyers can put down a larger down payment if they have the money so they won’t need a loan for more than the house is worth, for example.

Title contingency

Next up on types of contingent offers is a title contingency. This means the buyer’s offer is contingent upon the home having a “clean title” free of liens or obstacles.

If there are any claims against the title, it can make a purchase risky for buyers. But luckily, a title search can reveal these issues before closing. However, even if concerns are addressed, title insurance protects against future claims.

Home sale contingency

One of the most common contingencies is a home sale contingency. This contingency means that the sale of the home you’re looking to buy will only go through if your current home sells first.

Although it is possible to move forward with buying a new house before your current home sells, a lender may be able to help you with a bridge loan or suggest another financial strategy. Or you can try to request a later closing date—this will rely on the seller’s agreement.

Summary

Now that you know more about the types of contingent offers and what to expect, connect with a trusted REALTOR to learn more. Check out our Lee County Association of REALTORS members to find a good fit.

For more news and information, continue reading our blogs.

Year-End Review: A Look at Lee County’s Housing Stats for 2024

Posted on January 21, 2025

An analysis of Lee County’s housing stats for 2024 provides insight into the year-over-year changes compared to 2023. It also lays the groundwork for understanding future real estate trends by highlighting the current state of the local market, including inventory levels and average sales prices.

More properties sold in all areas.

Overall, Lee County, Auburn and Opelika experienced a boost in total properties sold year-over-year. In Auburn, 1,050 properties were sold in 2024 versus the 895 properties in 2023. That’s a 17.3% increase! For Lee County, 180 more properties sold within a year, going from 1,876 in 2023 to 2,056 in 2024—a 9.6% change.

Opelika experienced the smallest shift—but an increase nonetheless—at 1.1%, jumping from 734 in 2023 to 742 last year.

New listings were up and down in some areas.

While Auburn and Lee County saw an increase in new listings in 2024, Opelika experienced a slight decrease. More specifically, Auburn experienced the highest year-over-year change with a 19.2% increase in new listings. In 2024, 1,506 new listings hit the market, compared to 1,263 new listings in 2023, a 243-home difference!

Lee County wasn’t far behind with a 9.1% boost, equal to 231 more new listings in a year going from 2,520 in 2023 to 2,756 in 2024.

Opelika, on the other hand, had a slight dip in new listings last year. In 2024, the city had 881 new listings hit the market and that figure was 957 the year before.

Properties spent more—and less—time listed, depending.

It’s another of Lee County’s housing stats for 2024 that depends on location. By and large, home seekers had more time to find what they were looking for with homes spending more time on the market. The average days on the market for Lee County and Opelika listings increased while Auburn decreased.

Homes in Lee County spent an average of 60 days listed in 2024 versus 58 in 2023, a 3.4% difference. Opelika listings spent 66 days on the market last year, a 24.5% increase from the 53 days in 2023.

In this case, Auburn saw a 7.8% decline in average days on the market at 59 days in 2024, five fewer days than the 64 in 2023.

Average sales prices had highs and lows.

Auburn home buyers benefited here and there last year as average sales prices fluctuated month-to-month, leading to a slight 1.5% decrease overall, equivalent to $7,023. To clarify, Auburn’s average sales price in 2024 was $471,893. The previous year’s figure was $478,916.

But Opelika’s average sales prices jumped by 6%, or $20,453, increasing from $341,308 in 2023 to $361,761 in 2024.

Summary

To summarize, Lee County’s housing stats for 2024 show a healthy real estate market that shows no signs of dramatic shifts. Inventory in the area should continue to add new and existing properties. Home seekers have more time to find a property and make an offer. This could be the year to take advantage of shifting average sales prices and lowering interest rates to secure your dream home!

Are you ready to speak to a local expert more in-depth? Find your Realtor using our Member Search. Continue reading our blogs for more real estate updates and tips.

6 New Year’s Resolutions for Real Estate Agents in 2025

Posted on December 20, 2024

New year, new you—or so they say. But do you have what it takes to make the upcoming year different? Make it your goal and start thinking about next year now with these New Year’s resolutions for real estate agents in 2025.

Set goals.

First and foremost, start your turnaround by setting goals. Whether you want to enhance your work/life balance, learn new skills, create a bigger presence or update your headshots, setting clear goals will help you stay focused and organized.

Enhance your digital marketing.

A digital presence is essential in today’s marketplace, and this is especially true for real estate. Build your brand and connect with current and potential clients through social media. It is an effective way to establish yourself as an expert real estate agent in your local market.

Create a posting schedule to stay on track with daily posts. In addition to posting photos, creating videos is another impactful way to communicate with your target audience. Video topics can include market updates, buyer and seller tips, a new listing tour and more.

Attend a conference or webinar.

One of the best ways to learn something new is to attend a conference or webinar. Start by identifying the areas you want to work on in 2025 and look up webinars or professional conferences to increase your knowledge.

A webinar can be a low-cost and low-time commitment option. Although a conference might require more time, networking with other top agents is beneficial.

Connect with local businesses.

Forming relationships within your community is one of the best ways to create a good reputation. So, when it’s time for your New Year’s resolutions for real estate agents in 2025, remember to connect with those around you! Partner with local shops to provide discounts, welcoming gifts and goodies for open houses.

Stay in the know.

One of the most important parts of being a real estate agent is knowing how the marketing is faring. Make this one of your resolutions for 2025 so that your clients look to you as a trusted advisor.

Update your email marketing.

One of the most overlooked components of a marketing plan is email blasts. Email marketing done right can generate leads, strengthen relationships and more. Review your email marketing strategy and see where content can be refreshed—this can be rewording your message, creating new graphics or adding a new signature.

Summary

Sometimes a small change can make all the difference; that’s why these New Year’s resolutions for real estate agents in 2025 are key. In addition to these tips, continue reading our blogs to learn more about the world of real estate.

Realtor® Resources: New National Association of Realtors® Consumer Guides

Posted on November 21, 2024

In an ever-evolving real estate landscape, staying informed is crucial for home buyers and sellers—and one group is making it easier for everyone. Explore the new National Association of Realtors® consumer guides designed for Realtors to share with clients.

About the new “Consumer Guide” series

The new National Association of Realtors® consumer guides are single-page documents crafted to simplify complex information, ensuring consumers have the resources to make informed decisions. For use by Realtors, the informative documents cover the recent practice changes that took effect in August.

Covering a range of topics so far, the NAR® plans to provide additional guides in the future.

The six guides

Currently, there are six National Association of Realtors® consumer guides available as PDFs, including:

Why Am I Being Asked to Sign a Written Buyer Agreement?

Summarizes what buyers should know about working with a real estate agent since the policy changes.

Open Houses and Written Agreements

Explains what buyers need to know about attending an open house, touring homes and when a written buyer’s agreement is necessary.

Realtors’® Duty To Put Client Interests Above Their Own

Condenses NAR’s Code of Ethics that all Realtors® must adhere to and their ethical duties to act in their client’s best interests.

What Veterans Need To Know About Buying a Home

Reviews how the NAR promotes access to financing for veterans and highlights available options for veteran buyers during the home buying process.

Offers of Compensation

Recaps the process and options for offering compensation to a buyer’s agent to attract buyers and explains why sellers should consider this option when marketing their property.

Negotiating Written Buyer Agreements

Shares what home buyers should know when negotiating a written buyer agreement with a Realtor®.

Summary

Stay up-to-date with the latest NAR consumer resources and information by visiting facts.realtor. For more local real estate updates, community highlights and other news, keep reading our blogs.

The Spooky Side of Selling Your House on Your Own

Posted on October 22, 2024

Before deciding to sell your own home, it’s important to understand the potential risks involved. Discover the spooky side of selling your house on your own now, including scarce real estate knowledge, pricing challenges and more.

Legal risks.

Real estate transactions involve complex laws and regulations. When selling your home without a knowledgeable Realtor, you may be unaware of legal obligations that can lead to legal and financial liabilities.

Things you may not be aware of can include but are not limited to:

Information that must be disclosed to potential buyers.
Knowing what to ask lenders to ensure an easy escrow process.
The implications of buyers changing their minds and when they are entitled to their earnest money.
Deadline management.

Pricing.

One of the most prominent risks of selling your house on your own is the pricing challenge. Pricing is key to a successful sale, and real estate agents have experience in the local housing market. Hence a thorough understanding of current housing trends and listing prices down to the neighborhood.

Homeowners often lack this knowledge and experience, leading to overpricing or underpricing the home.

Limited exposure.

With access to professional networks, multiple listing services and other marketing tools, real estate agents can get your property maximum exposure. With For Sale by Owner, your listing may not reach a broad audience, lengthen the selling process.

Complicated negotiations.

Coordinating with the buyer, the buyer’s agent, the inspection company, the appraiser and more can become overwhelming for an individual trying to sell their home. Plus, navigating negotiations and handling contingencies and contract terms can be challenging for sellers without representation.

Working with a Realtor can keep negotiations professional, accurate and on track to seal the deal.

Summary

Were you thinking about selling your home without a real estate agent? Now that you know more about the spooky side of selling your house on your own, consider working with Realtor for a smooth selling process.

Are you looking for a Realtor in the East Alabama area? Connect with one of our trusted Realtors! For more real estate tips and industry news, continue reading our blogs.

5 Interior Design Trends for Fall 2024

Posted on September 20, 2024

As the leaves start to change and the air gets crisper, it’s time to update your home’s interior to reflect the warmth and beauty of the season. Embrace simple yet stylish designs incorporating cozy textures, warm hues and natural elements with these five interior design trends for fall 2024.

Velvet is big this fall.

Velvet is making a comeback this fall, adding a touch of elegance and sophistication to any space. This luxurious fabric is a must-have for creating a cozy and inviting atmosphere in your home, whether it’s a velvet sofa, an accent chair or throw pillows.

Choose rich jewel tones like emerald green, deep navy or burgundy to add color and texture to your space.

Earth tones are still in.

Earth tones are a timeless choice for fall decor, evoking feelings of warmth and comfort. Shades of brown, tan, terracotta and olive green are perfect for designing an inviting space. Consider incorporating these hues through furniture, wall paint or accessories to bring a hint of autumn inside.

Bright colors add cheer.

But don’t expect a completely neutral color palate. While the earth tones remain a popular staple, throw in shades of orange, turquoise, greens and yellows for bold, uplifting pops of color. Think of accessories like pillows and artwork to showcase this trend.

Comfy throws and textured layers.

Another one of the interior design trends for fall 2024 to look forward to is comfy throws and textured layers. Bring out the soft throws and textured layers to keep you warm as the weather cools off.

Add chunky knit blankets, faux fur throws and plush rugs to add depth and dimension to your space. Layering different textures creates visual interest and adds a touch of luxury to your home.

Natural elements.

Bringing the outdoors in is a key trend for fall, with natural elements like pumpkins, leaves and pinecones taking center stage. Incorporate these organic elements into your decor through seasonal arrangements, wreaths or decorative accents. Not only do they add a touch of rustic charm, but they also create a whimsical ambiance.

Summary

With these interior design trends for fall 2024 fresh in your mind, visit local thrift stores to see what you can find to repurpose to add to your home’s charm this season. And shop at local boutiques for more unique décor to prepare your home for autumn. For more real estate news and interior design tips, keep reading our blogs.