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The Gulf oil spill and the real estate industry

By
Real Estate Broker/Owner with Parker & Rankin (Ms) & Azalea Realty (AL) AL#88821 MS#B19412

The Gulf oil spill and the real estate industry is still to be determined.

Water front property owners are anxiouly waiting to see the outcome of the Gulf oil spill. REO properties prices are stable,and rental properties are increasing.How long will this last?

Homeowners who are trying to sell are afraid their property values will decrease. While some buyers are looking to buy good deals others have backed out of contracts because of the uncertainty of the Gulf Oil Spill and the effect it will have on market. d how long do you thing it will last? 

What do you think will happen to the property values during the disaster from the gulf oil spill, an

REMAX TODAY

Alice Broadway

www.AliceBroadway.com

email: Alice@AliceBroadway.com

Mississippi and Alabama Gulf Coast REALTOR.

Office: 251.272.1355  Direct Line: 228.623.5495

 

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Alice Broadway is a wife, mother, grandmother, daughter, and sister, she is also a dedicated REALTOR based on the Mississippi and Alabama Gulf Coast. With a passion for helping people, she loves assisting her clients buy and sell real estate.

 In 2007 she received a salesperson licenses, and went on to obtain a real estate Broker's Licenses for Alabama and Mississippi. Alice enjoys  marketing, sharing information, learning something new, and her large family.

In her spare time, you will usually find her and her Husband Miles at their 102 Acres "Kamp KOMA", surrounded by nature. If she is at home she is in front of her computer, or on her ipad, either blogging, socializing on FaceBook, Twitter, and Active Rain. If you would like to keep up with her blogs subscribe at:  www.alicesproperties.com

Counties she serves are : Jackson, George, and Harrison County in Mississippi. Mobile and Baldwin County in Alabama.  

              

Alice Broadway   

Office (228)623.5495  Cell (228)623-5495                        

Website:  www.AliceBroadway.com

Email: Alice@AliceBroadway.com               

http://www.facebook.com/profile.php?id=1030760128

 

  

 Mississippi Real Estate Office                          Alabama Real Estate Office 

Parker & Rankin Real Estate LLC                              Azalea Real Estate

1405 Market Street                                                12610 Old Hwy 90

Pascagoula, MS. 39567                                           Grand Bay, Al. 36541 

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Shar Sitter
Rooms With Style - Minneapolis, MN
Home Staging and Redesign Minneapolis/ St. Paul, M

I don't know but I have a beach front property in Panama City Beach that took a 60% hit to the rental income in May and they didn't even have oil on the beach! We have filed a claim with BP, we were suppose to have heard within 3-5 business day from an adjuster, hasn't happened. Hmmm.

I don't even want to think about the property value. Lord, please stop the oil!!

Jun 29, 2010 04:10 PM
Alice Broadway
Parker & Rankin (Ms) & Azalea Realty (AL) - Mobile, AL
Real Estate Broker

hey shar,

I was looking for a rental unit on Dauphin Island fro a college student. The owner/ realtor who ownes many units said: the student would not wont to pay what bp is paying. 

how about that.

Jun 29, 2010 04:34 PM
Tamara Camden Vacation Rental Agent
All Rentals 2 Remember, inc. - Key West, FL

Hi Alice, Unfortunately because of the oil spill, some vacationers just skipped Florida all together this year.  It would be a little easier to predict the market down time if they could just get the leak stopped.  We haven't reached the peak hurricane season time yet, and we still have massive amounts of oil to clean up, and it's still gushing with seemingly no end in sight.  At least if the leak is stopped, we could clean-up and control spreading to the nearby shores.  The market will be less stable until there is resolution in sight.

Jun 29, 2010 06:10 PM
Alice Broadway
Parker & Rankin (Ms) & Azalea Realty (AL) - Mobile, AL
Real Estate Broker

Completely agree Tamara, the oil spill has to be stopped. Hurricane season is on us and, we're just begaining to see the start of oil on our shoreline.

We have lost several large commissions due to buyers backing out of condo sales.

Jun 30, 2010 05:07 AM
Shar Sitter
Rooms With Style - Minneapolis, MN
Home Staging and Redesign Minneapolis/ St. Paul, M

Alice, I think I like what the owner of that rental property had to say!!! Let's hope that happens in my case as well. We are 2 days past the time the adjuster was suppose to call us. I hear they are now getting 1500 claims a day! All I can say is I pray everyday as the bank still needs the mortgage payments every month and doesn't care about BP or the oil.

Jun 30, 2010 07:53 AM
Alice Broadway
Parker & Rankin (Ms) & Azalea Realty (AL) - Mobile, AL
Real Estate Broker

I wish you the best Shar, hope Bp come thru for you as well. 

Jun 30, 2010 08:01 AM
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