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October 25, 2007

What the heck is going on with real estate in Baldwin County, Alabama?

The state of real estate in Baldwin County Alabama is a subject that we are inundated with on an almost daily basis unless for some reason you don’t turn on a radio, TV or computer or don’t read the paper.  The real estate market for Orange Beach condos, condos in Gulf Shores AL, and Fort Morgan beach condos is no different.  As a Gulf Shores REALTOR®, just about every conversation I have throughout the day, whether it’s with family, friends or anyone else, contains the question ”What do you think this market is going to do?”

As I write this morning, there are almost 2,900 condominiums on the market in Baldwin County, Alabama.  There are somewhere in the neighborhood of 15,000 total condos today in Baldwin County.  That means about 20% of available units are listed for sale.

Is that a lot?  Yes it is, but when you factor out the number of units that are still listed at astronomical prices by sellers who don’t want to sell for anything less than the unit next door sold for three years ago – Or the sellers that say “Well, you know, I don’t have to sell it.” – I believe that number of units that are really for sale is much smaller than 20%.

I seem to have misplaced my crystal ball, but here are the things that I know for sure.

  • Real estate in Baldwin County Alabama over a 7 to 10 year period of time has always been a good investment.
  • All of the rental companies in the area have reported sales numbers significantly higher than 2004 – which was the previous benchmark.  The larger companies have quoted increases in the 20 to 28% range.
  • It looks like we have made it through another season without a tropical occurrence (you know we don’t say hurricane anymore) in our area.  This means that insurance companies will begin to wade back into the market which in turn means the competition will drive premiums down.
  • The Baby Boomers are still out there!  They are still making money.  They are still thinking about retirement or at least slowing down and taking more time off.  And they still want to be near the water!
  • The real estate prices for Fort Morgan beach condos, Orange Beach condos and condos in Gulf Shores(and I mean rental prices and purchase prices) have traditionally been less expensive than our neighbors to the east of us.  Yet, we continue to have less traffic congestion and less commercialization. 

What does this mean for the future of real estate in Baldwin County, Alabama?  I believe it means that this area will continue to grow and we will continue to have appreciation in real estate values.

Sooooo!  If you think that now may be the time to invest in condos in Gulf Shores, Orange Beach condos, Fort Morgan beach condos or if your financial situation says that is time to sell your real estate in Baldwin County, Alabama, I invite you to give me a call at 251-978-7118 or drop me an e-mail to John@CondosinGulfShores.com.  

John Ricks
RE/MAX of Gulf Shores
Gulf Shores, Alabama
www.CondosinGulfShores.com
John@CondosinGulfShores.com
251-978-7118

This entry was posted on Thursday, October 25th, 2007 at 3:13 pm and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “What the heck is going on with real estate in Baldwin County, Alabama?”

  1. Insurance » What the heck is going on with real estate in Baldwin County, Alabama? said:
    January 17th, 2008 at 2:55 pm

    [...] Here’s another interesting post I read today by Condos in Gulf Shores Blog [...]

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