Entries Tagged 'Real estate' ↓

Real Estate News: Alabama investor’s $1.4M bid beats out 15 bidders for Fairhope home on Mobile Bay

Battle Plan Capital paid $760,000 for 31 acres off Baldwin County 13 in Daphne, and plan to develop The Retreat at Tiawasee, according to Nathan Cox, CEO of Bellator Real Estate & Development and Truland Homes. The property is adjacent to The Estates of Tiawasee, and the new subdivision will feature 48 estate size lots with homes starting in the high $300s.

Local attorneys Max and Utopia Cassady paid $200,000 for Canal Plaza, a 4,000-square-foot building at 25299 Canal Road in Orange Beach, according to Realtors. The two-story building has been renovated and is occupied by Cassady Taupeka PC, a law firm with attorney Mark Taupeka and the Cassadys. The partners have also opened Orange Beach Title in the building. Bob Shallow of REMAX Paradiserepresented the buyers and Patrick Daily of REMAX of Orange Beach worked for the sellers.

An Alabama investor beat out 15 other bidders with his cash offer of $1,425,000 for a 5,240-square-foot house with 160 front feet on Mobile Bay in Fairhope, accordingWilliam Bone of The National Auction Group of Gadsden.  The absolute auction attracted 16 registered bidders from six states including Texas and Missouri. The four-bedroom, 5 ½ bath house was owned by Mike Carter, who owns numerousGodfather’s Pizza restaurants, according to Bone

via Alabama investor’s $1.4M bid beats out 15 bidders for Fairhope home on Mobile Bay | AL.com.

Baldwin County residential sales in March hit 10-year high; lncrease 36% from prior year

March residential sales in Baldwin County totaling 480 units reached levels not experienced since 2005 and were 36.0 percent ahead of the same period a year ago. To place in perspective, Baldwin County’s best March on record for sales was 2004 when 629 transactions were closed. Year-to-date sales through March are up 10.9 percent from 2014.

via Baldwin County residential sales in March hit 10-year high; lncrease 36% from prior year | AL.com.

Take a quick tour of Airbnb.com’s Coastal Alabama vacation rentals

On the popular property rental marketplace airbnb.com, that easy, breezy getaway is only a few clicks and correspondences away. Click here for the listing from Accommodations Afloat.

Currently, Airbnb has about 200 listings in Mobile and Baldwin Counties, from an entire Fairhope mansion going for $550 a night, to a convenient no-frills private room in a house right off I-10 for $50 a night.

via Take a quick tour of Airbnb.com’s Coastal Alabama vacation rentals | AL.com.

Shoe Station plans Eastern Shore location move, D.R. Horton buys lots in Gulf Shores | AL.com

Volume home builder D.R. Horton paid $2.02 million for 101 lots in Crimson Ridge subdivision off Baldwin County  8 in Gulf Shores, according to Nathan Cox of Bellator Real Estate & Development, The seller was the Gulf Coast Opportunities Fund, and Cox is a general partner in the investment fund.

Shoe Station has leased the Bed Bath & Beyond space in the Eastern Shore Centre on Ala. 181 in Spanish Fort, and will relocate from its current store in adjacent Eastern Shore Plaza, according to Mark Kraft, general manager of the lifestyle center. Shoe Station plans to lease a total of 23,130-square-feet of store space, and move there this fall after renovations are complete, he said. Bed Bath & Beyond will be relocating to a smaller space later this month at ..in Daphne. The current 12,000-square-foot Shoe Station store will remain open until the new space is renovated..

A Pensacola, Fla. investor paid $510,000 for a two-story, 5,862-square-foot building at 1715 N. McKenzie St., in Foley, according to court records. The seller was Sacred Heart Hospital of Pensacola, and was represented by Hunter McClure of REMAX Paradise in Orange Beach. The buyer plans to use the building for medical offices.

Colonial Realty Limited Partnership plans to sell its interest in the Publix Shopping Center on Gulf Shores Parkway in Gulf Shores to Publix Super Market, according to city records. The city of Gulf Shores will continue to pay Colonial $210,000 annually until a total of $2.1 million is received by Colonial for securing Publix as a  tenant for the center, according to city records.

City officials negotiated the revenue sharing deal with Colonial in 2008 in an effort to bring Publix to the center. The agreement allowed the project developers, Colonial Properties Trust, to recoup up to $210,000 of sales tax revenue generated by the grocery store for as long as 11 years

via Shoe Station plans Eastern Shore location move, D.R. Horton buys lots in Gulf Shores | AL.com.

Orange Beach Tower Could be State’s Second Tallest

“Property’s like this, you don’t get a chance very often to have this in your community.” Robert Stuart chairs the planning commission that approved the project. “They by right could build two 26 story towers. They would have been much wider and would have taken a bigger footprint of the property instead of spreading out and going wide they are going up.”

Way up. At 469 feet and 449 feet respectively, they could become some of the tallest buildings in the state.

via Orange Beach Tower Could be State’s Second Tallest.

Insurance Companies Dropping Wind Coverage

Insurance companies are cancelling wind and hail policies this year, leaving thousands of Gulf Coast homeowners scrambling to find coverage.
Farmers Insurance will drop 10-thousand wind policies by July. Alfa Insurance is no longer writing wind policies in Southwest Alabama.

A State Farm spokesperson told News 5 they’re writing limited polices north of I-10 and are no longer writing wind policies south of the interstate. USAA Insurance recently cancelled more then 15-hundred wind policies in South Mississppi and is refusing to write new polices in Coastal Alabama.

Insurance Companies Dropping Wind Coverage

Using inaccurate data, report falsely shows Baldwin with nation’s highest bankruptcy rate

An Ivy League law professor put out a report this week showing that Baldwin County had the highest bankruptcy rate in the country last month, but he apparently used incorrect data.

When the Press-Register examined the numbers, however, it found that the number used by Mann was higher than the total number of bankruptcy filings — of all types — in the entire 13-county region covered by Mobile’s bankruptcy court.

And it means that Baldwin County did not come close to leading the nation last month in bankruptcy rates.

Using inaccurate data, report falsely shows Baldwin with nation’s highest bankruptcy rate

Alabama’s foreclosure rate ranks the state among the bottom half of the nation, at No. 33.

Ala. foreclosures remain high for 2010

Real Estate News

A local developer paid $225,000 for less than an acre on Ala. 59 in Robertsdale, and plans to build a Big 10 Tires store

Local investors paid $150,000 for 4 acres of bank-owned land zoned for apartments on Lake Forest Boulevard in Lake Forest in Daphne

Global Security International has relocated its headquarters to 2,400 square feet of office space in Austin Place at 8757 Rand Ave., in Daphne

Real Estate News

Real Estate News

  • An out-of-state investor paid $536,000 for seven completed or partially finished bank-owned cottages on Baldwin County 6 in Gulf Shores, according to Herndon Luce of Vallas Realty. The purchase included four lots and 13 boat slips on Bon Secour River. Shirley Poulos of Carney Realty represented the buyer.
  • The Episcopal Diocese of the Central Gulf Coast paid $375,000 for the 7,500-square-foot, bank-owned building it was leasing for its Holy Spirit Thrift Shop, on 3.5 acres at 6798 Gulf Shores Parkway in Gulf Shores
  • CoffeeHeads, a gourmet coffee shop, and Mission 25 Hair Salon will open Feb. 1 in Pelican Place on Ala. 59 in Gulf Shores

Also (in Mobile), Ciggy’s 4 Less?

Real Estate News

Derelict properties under scrutiny

Having spent the last couple years working to wipe away lingering traces of storm damage along the beach, city officials said they are now focusing their attention on derelict properties in residential neighborhoods.

To that end, the City Council at its meeting today will consider declaring five properties public nuisances, which would allow city employees to clean up the properties, in some cases demolishing structures, and billing the owners.

“We’re not out harassing people if they don’t clean their yard up every two weeks,” Mayor Tony Kennon told residents last week during a public forum. “We’re talking about public safety, public heath. Serious issues. Vermin. Something of that nature

Derelict properties under scrutiny

Baldwin Co. property taxes take a dip

Baldwin County property owners are breathing a collective sigh of relief. Last year, appraisals were raised, leading many people to contest the amounts. But this year, appraisals will be down eight percent.

But, a lower tax bill means fewer dollars going to schools. Earlier this month, the school board had to layoff more than 150 support workers. So leaders like Spanish Fort Middle School Principal Carol Palumbo are calling on parents to help pick up the slack.

Baldwin Co. property taxes take a dip

Gulf Coast homebuilders to focus on lower-end houses

Baldwin County building starts in July were up by 14.5 percent from June, but still down 23.7 percent when compared with July 2008, according to the Alabama Real Estate Center at the University of Alabama in Tuscaloosa.

Getting rid of inventory is the biggest challenge for builders in the current economy, according to the new construction report, which says there are more than 5,000 new homes on the market statewide. And some local builders predict it will be a long, cold winter before the market improves.

The $150,000 to $250,000 price range is the most active in sales in Mobile and Baldwin counties, according to Realtors.

Economic downturn forces Gulf Coast homebuilders to focus on lower-end houses

Real Estate Briefs

  • Spanish Fort BBQ Co. has leased a 2,500-square-foot building on U.S. 31 near Coleman Lane just east of Ala. 181 in Spanish Fort, and plans to open in August, according to Dane Haygood of H Proper ties , who represented the tenant. KV Properties worked for the landlord.
  • Snappers Lounge leased 2,400 square feet in Wolf Bay Plaza on Canal Road in Orange Beach, according to Beau Haginas of Atlas Group in Orange Beach.
  • Anchor Title has leased 1,500 square feet in the Coast al Bank & Trust building on Canal Road in Orange Beach, according to Donna Haginas of Atlas Group.
  • Founders Square developer Mike Bernhardt said he plans to start construction later this fall on 3,400 square feet of office space and a loft apartment in the second phase of his project off Section Street in Fairhope. The four gated townhomes in the first phase are sold. The 1,600-square-foot loft apartment is priced at $619,000, he said.

 

Spanish Fort BBQ leases building

Real estate news

  • Sauce’s, a take-out Cajun food and wine store, has leased 600 square feet at Spanish Fort Plaza
  • The former Beachhouse Grill at 5872 Battleship Parkway in Spanish Fort has been leased to a local businessman, Bob Beach, who plans to open Gators in early April. The new restaurant will feature comfort food at lunch and hand-made pizza at night
  • Four tenants have leased space in The Pelican Place Lifestyle Center, formerly Co lonial Pinnacle Center, on Ala. 59 in Gulf Shores, according to Chris Tilley , leasing manager for the center’s new owners, Langley Property . Set to open this month are Accessories Galore & The Bag Lady , 3,772 square feet, and The Dunes, A Cigar Bar, 3,000 square feet. In April, In nerlight Surf & Skate will open in 6,755 square feet and Sand Dollar Life Styles will open a 6,717-square-foot store. Construction should begin this spring on a Publix Super Market in Pelican Lifestyle Center, with a spring 2010 opening date, Tilley said. LifeQuest of Florence plans to invest $5.7 million to build a 32-bed specialty care, assisted living facility in Gulf Shores, according to the State Health Planning & Develop ment Agency in Montgomery. The firm is looking at two sites, one on Baldwin County 4 and another on Baldwin County 10, both near Ala. 59

Real estate news

Real estate news

  • Books-A-Million plans to relocate to a new, 12,500-square-foot building adjacent to J.C. Penney in Spanish Fort Town Center off U.S. 90 in Spanish Fort this fall, according to Josh Bur meister of SRS Real Estate Partners, who represented the developer. The book store will move from Jubilee Square on U.S. 90 in Daphne when the new store is finished
  • Café Malbis has leased more than 5,000 square feet in Malbis Place , a planned 23,900-square-foot commercial center on U.S. 90 near Ala. 181 in Daphne, according to Bennett Long of The Cirrus Group , which is developing and leasing the center. The restaurant will relocate from its location on Ala. 181 when the center opens. The center is 50 percent leased and construction will begin when a few more tenants sign on
  • A local investor paid $125,000 for a 1.1 acre commercial lot in Daphne Busi ness Park on Stanton Road off U.S. 98 in Daphne, according to court records and Realtors

Real estate news