Ono Island Homes Priced to Sell Over 1 Million Dollars
High dollar homes are selling once again. Specifically on Ono Island, Alabama where homes priced in the millions were under contract last month. Ono is a privately gated 5.5 mile island neighboring Orange Beach, Alabama and Perdido Key, Florida and bordered by Old river and Bayou St. John. Offering privacy and views of the Gulf, many of the 32 homes that are currently listed for sale are at $1 million or more. Lots are beginning to sell for more than the appraisal price and as the lot prices increase, so will the price of homes. Home lots typically start around $159,000 and can rise to $2 million.
SEARCH ONO ISLAND HOMES FOR SALE OVER 1 MILLION DOLLARS
Access to enter Ono Island is granted by a single bridge, adorned with 24 hour security guards to ensure the privacy of residents. Residents of Ono have the luxury of living at the beach and accessibility to have a boat at their residence. A big attraction for boat owners is being located close to Perdido Pass and deep water. Add the protection and privacy and there’s not much more you could ask for.
Another advantage to buying million dollar property in Alabama, whether it’s in Ono or Orange Beach is the property tax. Property taxes for a million dollar home on the Gulf Coast in Alabama would average around $4,000 versus $18,000 in Florida for a million dollar home. High end properties are getting a lot of activity because of the great values. Homes originally listed for more than 2 million are now being listed for half the price. Recent sales are showing that people who have money had been waiting for the economy to improve nationally and are now getting back into the market.
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