These Top-10 properties may not be the lowest priced comparable properties. I’m incorporating my 22 years of Alabama and Florida gulf coast real estate experience into the equation. I will avoid properties according to their poor location, construction quality, and other negative variables. This Top-10 list is not focused on any particular function such as rental opportunity, but is a product of a broad spectrum of assets.
If the property is listed with a real estate broker and associated with either the Baldwin County, Alabama Association of Realtors, or Pensacola, Florida Association of Realtor’s MLS (Multiple Listing Service) database, I shall include the “MLS #” into the Top-10 list. In order to obtain additional information, copy and paste the MLS# into the corresponding public MLS# database link. The Baldwin MLS site mandates that the “pop-up Blockers” be temporally removed. Please note that these 2 public MLS databases are limited as to how much information is available. For more information, please contact me so I may forward to you listing data from the controlled professional database.
The chronological order does not indicate any preference. Some properties may remain in the list the following weeks. These Top-10 properties are “short sales” or “bank owned REOs”. In my opinion, these are the best investment opportunities. However, this does not indicate that there is an abundance of distressed properties available to suit your investment needs or desires.
Forthcoming weekly blogs will include raw MLS sales data such as how many units are listed for sale, and how many have sold. I shall also include data not available on the MLS databases such as how many lis pendings have been filed at the court house. I will also include upcoming auction dates.
Most of the gulf coast water-front condo developers have liquidated their inventories thru auctions except for the high end (million dollar) units. The high end properties will be a forthcoming blog devoted exclusively to this type property, including how many are available, current sales prices per square foot, and the status of the developers still holding the bag per say.
The exceptions are AIG-Baker’s “Levins Bend” at the Wharf in Orange Beach, Alabama, and Perdido Key, Florida’s bankrupt “WCI”. I am not including their listings since there are so many remaining. See:
http://www.wcicommunities.com/new-homes/search/florida/pensacola-perdido-key
http://www.thewharfal.com/?section=live
Top-10
Pensacola, Florida Association of Realtors public MLS:
1. MLS# 370398 / Perdido Key / Windemere Condominium / 2BR-2BA / 1,176 sq. ft. / gulf front / list price $229,900
2. MLS# 334039 / single family detached residence / 3BR-2BA / 2,117 sq. ft. / deep water Intracoastal Waterway 50’ frontage / $475,000
3. MLS# 370735 / Indigo Condominium / 2BR-2.5BA / 1,544 sq. ft. / gulf front / $470,000
Baldwin County, Alabama Association of Realtors public MLS:
4. MLS# 149956 / Orange Beach / Phoenix II Condominium / 2BR-2BA / 910 sq. ft. / gulf front / list price $289,987
5. MLS# 145457 / Ono Island single family residence / 6 BR-5BA-2 half BA / 6,500 sq ft. / Ole River frontage / list price $740,000
6. MLS# 148567 / Orange Beach / The Enclave Condominium / 3BR-3BA / The Enclave / 3BR-3BA / 1582 sq. ft. / gulf front / list price $419,900
7. MLS# 147422 / Gulf Shores / Regatta Condo / 3BR-2BA / 1133 sq. ft. / gulf front / list price $225,000
8. MLS# 141355 / Ft. Morgan / The Beach Club Condos / 1BR-1BA-1 half BA / 671 sq. ft. / gulf front / list price $260,000
9. MLS# 139571 / Ft. Morgan /The Beach Club Cottages / 5BR-4BA / 2,500 sq. ft. / $475,000
10. MLS# 147728 / single family detached, 50’ Mobile Bay waterfront / 3BR-1.5BA / 1,330 sq. ft. / $324,900
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