Get the word out! Gulf Coast Beach Property is HOT! HOT! HOT! Lenders are financing condos again and of course cash is still king! True there are foreclosures and short sales that are great deals–however there are some really great deals that are not considered distressed sales. Condo owners who bought during “the party” (as one agent in my office refers to the 2005-2007 time when condos were being sold like cold beer at a summer baseball game) and are not underwater on their mortgage can sell at a fair market value price although they are losing equity.
Sales prices today on Gulf Shores and Orange Beach Condos are roughly 50% what they were 4-5 years ago–and sometimes as much as 65%. People ask me all the time if I think the prices will go back up. Yes, I do think condo prices will increase someday. For someone looking for a good deal on a vacation place for their family that would pay for itself this Gulf Coast Condo Market is the perfect shopping arena.
Consumers can see photos of the condo unit itself, the complex amenities and the condo view online. Also be aware that “Gulf Front” may mean the building–not the condo unit itself. If you want to look out the window of your condo and see the dolphins swim then make sure you pay attention to the view. If you cannot see it online ask your agent before you schedule a showing or make an offer.
Information a condo buyer also should ask their agent about:
- Amount of Montly Property Association Dues (Be informed of exactly what the dues cover)
- Upcoming Assessments and Fee (if any)
- Rental History
To find out current pricing for some of the most popular complexes: