Sales along the Alabama Gulf Coast continue to rise and with the third quarter sales reports out, we are seeing good news for sellers and investors. This includes: Fort Morgan, Gulf Shores, Orange
Ready To Catch The Wave In 2016
Happy New Year from Alabama’s beautiful Gulf Coast! I’m excited about what 2016 will bring and incredibly hopeful that the economy of LA or “Lower Alabama” will continue to shine.
Many prospective buyers and sellers ask me what the outlook is for the real estate market in Gulf Shores and Orange Beach. Should they buy now - should they sell? If the business activity we’ve witnessed here is any indication, I would say the market for condos and single-family homes in the area, including Foley, will likely continue to strengthen.
There’s a palatable energy and sense of opportunity in the air. You can see it in the new businesses setting up shop, new home and condo construction projects, infrastructure improvements, and investment by local governments in quality of life initiatives.
Take for example the new 89-room Hampton Inn going up in Gulf Shores or the recently-opened Bywater Bistro adjacent to the Canal Park boat launch in the Waterway Village District. Also in the District, Gulf Shores will welcome its first microbrewery, Big Beach Brewery, at the intersection of East 2nd Street and 24th Avenue across from Tacky Jacks. An indoor trampoline park, The Factory, located at the former Gulf Coast Tennis Club on West Oak Road is slated to open this year. A great venue for birthday parties, the center also will offer air dodgeball, basketball and foam pits. And for bicyclists and walkers, the city is planning some major improvements to the Fort Morgan bike trail.
In Orange Beach, it’s hard not to miss Best Western’s 86-room The Tides Hotel going up on the beach. The hotel is now accepting reservations for stays beginning June 30. Or, the 140-room Springhill Suites by Marriott expected to open at The Wharf this spring. Construction is underway on the 11-story condo complex Perdido Dunes Tower on Perdido Beach Boulevard. 2016 will also see the arrival of Holiday Inn’s boutique Hotel Indigo across from the beach near the Hugh S. Branyon Backcountry Trail. Improvements to Canal Road, specifically near the entrance of The Wharf, will help ease traffic congestion into and out of this popular destination.
In Foley, the earth-movers continue to prep 520 acres for an entertainment and sports development on County Road 20. Billed as a family-oriented venue with shopping, hotels and dining, the project will also comprise a 108,000 square foot sports tourism complex along with 16 outdoor athletic fields.
And these are just some of the current and planned projects in our community! Add to this the fact that interest rates are still at historic lows, hovering around 4 percent, and will remain so despite the recent Federal Reserve rate hike. According to leading economists, mortgage rates are expected to rise gradually ending this year at an average of 4.6 percent. Still very attractive!
While no one has a crystal ball to predict the future, if you’ve been contemplating purchasing - or selling - a primary home, a vacation or investment property, 2016 may be the year to catch the beautiful waves of Alabama’s Gulf Coast!
Christine Slaughter is an associate real estate broker with Realty Executives of Gulf Shores, Alabama. Originally from Australia (she moved to Alabama’s stunning coast nearly 30 years ago), her love of the sand, sun and seafood are deeply-rooted in her soul.
If you are looking to buy or sell along the Alabama coast (or Florida), you can reach Christine directly at (251) 942-3141 or email her at christine@ChristineSlaughter.com. Be sure to follow Christine online at ChristineSlaughter.com, on Twitter@ChristinesCoast or Facebook at ChristineSlaughterRealtor. Let Christine help you catch the real estate wave in 2016!