Realtors in Gulf Shores, Perdido Bay, Orange Beach and other coastal Alabama Gulf towns are reporting a hot spring housing market.

Gulf Shores

"While the economy may not be doing well in many areas of the country," says Realtor Bobby Hill, "this market is in its strongest position in history. A volatile stock market and the lowest interest rates in 40+ years has made this a sellers' market with many water-oriented properties coming on the market and lasting less than a week. In the past, these properties could usually be purchased for three to five percent less than listed price, in today's market most properties are selling at or above list price. I've been advising buyers that the property they looked at today and plan to buy tomorrow is the property somebody looked at yesterday and plans to buy today."

Says Realtor Richard Wittig, "Golf courses, beach, sun and sand - Alabama's Sun Coast is sugar white sand beaches and the blue Gulf of Mexico waters highlight this water playground. Golf courses and varied interests are also accommodated."

About the market, Wittig suggests, "Supply and demand characterize this market: Decreasing supply and increasing demand. The summer season isn't even here yet, and the real estate market is hot. Now is the time to purchase that property you've been thinking of. I'm afraid that prices will be much higher in the fall of 2004!"

Perdido Key

"Anything with water view, waterfront, canal front, bay front, river front, and even water access is in high demand," advises Wittig. "Supply of properties is down and demand is up and increasing. Now is the time to purchase that property you were thinking about. Tomorrow you may not be able to afford it!"

Orange Beach

"Ono Island is that most private island boarded to the south by Old River, Perdido Key and the blue waters of the Gulf of Mexico and to the north by the Intercoastal Waterway and Perdido Bay," explains Wittig. "Sometimes man does improve on nature. Ono island is that "sand dune" that has been converted into a semi-tropical paradise for many. Surrounded by water on all sides, it is a boater's paradise in a private island setting. Comfortable prestige says it all."

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Published: April 28, 2004

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