The Alabama Coast continues to rise in its popularity as a vacation destination. Demand for vacation condo rentals and second homes fuels most of the sales. Other components contributing are new
Are You Catching The Wave Yet
Are You Catching the Wave Yet?
What an amazing year it’s been so far! The pace of real estate activity along Alabama’s Gulf Coast is keeping with what many had predicted for 2016. Demand continues to rise as inventory declines even further. This is good news if you’ve been contemplating putting your house or condo on the market. Now is the time. It’s also a good time to consider purchasing as we continue to see a rise in home property values. So I ask you, “Are you catching the real estate wave yet?”
The growth in the real estate market is keeping pace with all the business activity in our area, particularly in Orange Beach, Gulf Shores and Foley. With new hotels, condo developments, small businesses and infrastructure improvements, more and more visitors are planting semi-permanent roots (think second homes) in our beautiful neighborhoods; others are relocating here altogether (think full-timers like families and retirees).
If you drive around Orange Beach, you can’t help but notice some of the activity. At the Wharf, construction on the 132-room Springhill Suites by Marriott(right next to the Orange Beach Event Center) is moving right along and is expected to open this summer.
Also at the Wharf, the big white tent is now the second home of the very-popular Burris Farm Market based in Loxley. Villaggio Grille is expanding its current space by 2,500 square feet; and for sushi lovers, the Ronin Sushi Bar & Restaurant will open in May. Since last November, the Wharf has welcomed 17 new tenants bringing first floor fulfillment to 96 percent - a sign of our growing economy!
To help improve traffic flow along Canal Road (180), which runs east from Gulf Shores all the way to the tip of Bear Point in Orange Beach, the Alabama Department of Transportation is widening lanes between the SR161 intersection (Doc’s Seafood) and the Wharf. According to the city of Orange Beach, construction is slated to be finished by Memorial Day weekend.
Construction continues on the Phoenix Orange Beach, a 21-floor condo development next to the Hampton Inn & Suites, across from the Publix shopping center. Pre-construction prices for the 114 three and four bedroom units (all Gulf Front!) are available. The 3 bed/3 bath unit is 1,770 sq. ft. for $565,000. The 4 bed/3 bath unit is 1,948 sq. ft. for $695,000. Interested? Give me a call!
To top it off, Starbucks arrives this summer across from Publix!
Abaco Condo Development, Gulf Shores
In Gulf Shores, the beautiful, state-of-the-art 78-unit Abaco development is underway at 903 West Beach Boulevard. The onlygated condo development in the city, Abaco will rise 24 stories and offer 3 bedroom & 3.5 bath units, with only 4 units per floor. Club Level units on floors 5 and 17-23 are offered with added benefits, such as preferred parking, private coded floor access (on the 5th floor), and upgraded luxury interior. Penthouses enjoy the same benefits.
Pre-construction pricing is available through May 12: Interior units (2,080 sq. ft) for $750,000; outer units (2,120 sq. ft.) for $775,000; two interior penthouse units for $805,000; and two exterior penthouse units for $835,000. With 50% down, the price is reduced by 2%; if the unit is paid for in cash, 6% comes off the price. Don’t wait long!
If you still want to catch the real estate wave, give me a call! Christine Slaughter (251-942-3141)
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.
Let Christine help you catch the real estate wave in 2016!
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July 2016 Real Estate Update (Plus some great upcoming events!)Summer is winding down along Alabama’s Gulf Coast. Many visitors have headed home after Labor Day as another school year gets