Is the market showing any signs of life in Gulf Shores?

Asked by Bob, Gulf Shores, AL Sun Oct 7, 2007

No storms this year should help. Am building townhomes there but have not listed with an agent. Seems there's a glut of inventory not sure how a property separates itself. Do newly constructed units sell better or those a few years old furnished and with a rental history?

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Dan Therrell’s answer
Dan Therrell, , 36532
Thu Nov 1, 2007
Hello Bob,

I prefer being optimistic, but that's no excuse for burying our heads in the sand and ignoring reality.

As you have observed, the Gulf Shores area is most definitely suffering through a "glut" of inventory. The market is the worst it has been in over 20 years. Signs of life? A death shiver everytime another property is foreclosed and auctioned off for 50 cents on the 2005 dollar.

On the bright side, it's a fine market for bargain-hunters with money to invest in great properties. Sellers will have to be realistic and not ride the market down into bankruptcy.

If you have new inventory coming online, you will have to offer some very aggressive pricing, as well as other incentives to get any lookers, much less buyers. You might consider advertising your townhouse properties as a whole to multi-family investors.

If you have any means to hold on to your property for a couple of years, the market will eventually turn around and take off like a rocket again. It's just a matter of time, but who knows when!

All the best,

3 votes
Century 21 M…, Agent, Baldwin, NY
Thu Aug 12, 2010
Yes alot of inquiries and some movement but still a bit off from past
0 votes
Dan Chase, Home Buyer, Texas City, TX
Thu Mar 11, 2010
I bet since 2007 when this was asked that prices have dropped considerably. Be careful of how you define life in a real estate market. Yes its great, listings are up, sales are up, prices dropped like a rock, great market.
0 votes
Genna Everson, , Gulf Shores, AL
Thu Mar 11, 2010
Life in Gulf Shores is Lifestyle Living at its best !!!!!
0 votes
Port City Te…, Agent, Mobile, AL
Sat Dec 12, 2009
We have been doing good in Baldwin County this year. I just rented space this week and will be opening an office before the end of the year. Look me up.
0 votes
Karen Harris…, Agent, Huntsville, AL
Sat Jun 6, 2009
There is definately a lot of inventory on the market. Lots of new properties are still sitting empty. The cost to build has just not gotten as low as the market price just yet. However, we are beginning to see things move. It must be priced at the bottom plus have all the bells and whistles. No storms and lower insurance rates will definately help our market.
Karen Harrison, Remax of Orange Beach
0 votes
Ken Herrera…, Agent, Las Vegas, NV
Fri Oct 12, 2007
Gulf Shores Seems like it is heading in the right direction. The wharf is a great shopping/living area that is sure to attract a lot of attention in years to come. I agree with Ian, the more time these areas put between the storms, the better these areas look for Buyers/ Investors to consider them. My company deals with a project of Condo Conversions in the Gulf Shores Area, with the Go Zone Tax Break, it has been a very attractive project for our investors. Having the rental history's are great, having a guaranteed lease would make it an optimum choice for an investor. Contact me and I will show you how that can be arranged. If you check the site below, you can look at a project in Gulf Shores, it is the Colony Club.

Good Luck
Ken Herrera
Century 21 Infinity
0 votes
ian cockburn, Agent, New Orleans, LA
Sun Oct 7, 2007
The newly constructed, especially if they meet or exxceed the Florida code are selling well along the Gulf Coast, from Louisiana to Alabama
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