I have decided to repost this information that was blogged on al.com in the real estate section. This is the same information that we walked away with last week at our monthly RE/MAX of Gulf Shores sales meeting. It's nice to see that it's being reiterrated here as well.
"2011 (Baldwin County)
- Closed Volume 1/1/11 - 8/31/11: $1,241,637,662
- # of Transactions 1/1/11 - 8/31/11: 6,188
- Closed Volume 6/1/11 - 8/31/11: $507,172,014
- # of Transactions 6/1/11 - 8/31/11: 2,448
2010 (Baldwin County)
- Closed Volume 1/1/10 - 8/31/10: $998,789,328
- # of Transactions 1/1/10 - 8/31/10: 4,962
- Closed Volume 6/1/10 - 8/31/10: $356,369,438
- # of Transactions 6/1/10 - 8/31/10: 1,776
Comparing the Numbers
- The # of Transactions increased by 1,226 transactions YTD, which is a year over year increase of 24.71%.
- The # of Transactions increased by 672 transactions during June through August, which is a year over year increase of 37.8%.
- The Closed Volume increased by $242,848,334 YTD, which is a 24.31% year over year increase.
- The Closed Volume during the summer months increased by $150,802,576 during June through August, which is a 42.32% year over year increase.
A wide variety of deals continue to present themselves on all different levels, and if you are someone that has been on the fence there is no time like the present to get involved whether you are looking for a new primary residence or an additional investment opportunity.
The numbers above are a strong indicator that the inventory is getting consumed and as soon as all of the distressed inventory gets removed from the market prices will most definitely start back up again.
There are certain pockets that already exist where prices reached a bottom several months ago and have started ascending. No one can ever time the market perfectly (without just plain luck), and there is no doubt in our minds that if we haven't hit bottom we are close to it.
So where do you go from here? Find the deal that is right for you then be aggressive and go after it with a vengeance because opportunity is staring you in the face. Don't look back in 12 months with a lot of "would of, could of, and should of's" because even though it is going to take some time to get there we can assure you Baldwin County is poised for a strong comeback.
Nathan Cox, founder and president of Bellator Real Estate & Development, Inc. located in Baldwin County, Al, provided commentary for this article. Mr. Cox specializes in single family residential development and the management of numerous investment groups. He is currently a member of the ACRE Advisory Board of Trustees. "
Article Courtesy of the Press Register. Direct link to article: http://blog.al.com/acre/2011/09/real_estate_commentary_baldwin.html