The Gulfshoreslife.com Team Service Providers

Gulf Shores Condos – Orange Beach Condos – Real Estate Service Providers

MARKET UPDATE ALABAMA GULF COAST

The coastal communities of Orange Beach and Gulf Shores, Alabama, have seen significant price reductions in both condo’s & single family homes.  These new price levels are now starting to attract buyers who have been following this local real estate market. 

A Market View

  • Beachfront – 2/2 recently built condo’s starting in the high 300’s
  • Some Quality developments …..Selling at 35 – 40% off high selling price
  • Buyers looking for PRICE… AND… QUALITY
  • Lowest priced units in specific developments are being “picked off” first
  • Large investor groups are buying remaing developer inventory
  • Only two new Beachfront developments coming on line in 2008 – both high priced
  • Many units are now being sold at less than building replacement cost
  • Buyers are monitoring specific developments and buying at certain price points
  • 2007 was the strongest rental year ever – 2008 is on pace to exceed 2007
  • Rental Income versus Purchase Price ratio’s are now much more balanced
  • No new developments are being started
What the Market tells us…….
  • Many Sellers are ……highly motivated AND have to sell….. many own multiple units
  • Excellent selection of quality resale units at value prices
How to get the Best Value…….
  • Determine your criteria….. primary use – personal or rental, beachfront, #bedrooms, price range, type of amenities (some deveopments have year round amenities)
  • Focus in on specific developments
  • Contact us and …..ASK QUESTIONS!!!
  • Get pre-approval from a mortgage lender
  • Monitor the market – recent sales & new offerings
  • Write a clean contract with …..QUICK CLOSING!!!   
  • ….OUTSTANDING BUYING OPPORTUNITIES!!!
      www.gulfshoreslife.com                    

Advertisements

June 19, 2008 - Posted by | alabama, Baldwin County, Bon Secour Bay, fort morgan, gulf of mexico, Gulf Shores, Ono Island, orange beach, Oyster Bay, perdido bay, real estate, wolf bay | , , , , , , , , , , , , , , , , ,

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: