Lesa Gilbert

Here in The Alabama Gulf Coast area we have just about every kind of waterfront property available for sale: Bay Front, Gulf Front, River Front, Canal Front, Lake Front. So how does a buyer determine value when there are so many variables--especially price?

After showing a couple of my waterfront listings last week the buyer's agent told me she was even confused because the prices were "all over the place." Admittedly waterfront property is very hard to "comp out" as an agent mainly because of the uniqueness factor and secondly because of the overall availability of waterfront property versus housing in subdivisions or neighborhoods--the fewer the properties to compare a subject property to the more difficult it is to determine Value.

Now let me say that I personally believe that "Fair Market Value" and a Buyer's "Individual Personal Value" may not always be the same or even that close to being the same value of a property be it waterfront or not. Here's where I think a lot of agents are missing it: they are getting too caught up with their buyer in looking for the DEAL that they allow too many variables in to play and everyone is confused by the end of the day.

Here are some Tips to Simplify The Selection of Waterfront Property:

• Tip #1: If a Buyer is shopping for a Waterfront Home to live in or enjoy as their PERSONAL vacation home, then priority is THE LIFESTYLE OF THE BUYER. If they buy the best deal on the market for waterfront homes and it was only rated 5 on their list of "10 being Perfect" then there is a good chance they will not be completely satisfied with their purchase and continue to second-guess their decision of that house AND the agent who sold it to them.
• Tip #2: Why do they need/want waterfront? Do they need a Boat Dock? And a Boat Lift? How big is their boat? How Deep does the water need to be?
• Tip #3: Determine if ACCESS to Waterfront is sufficient or if the Buyer needs/wants to be living "on the water." Often there may be a deeded boat slip or dock that conveys with the property. The price should reflect that the house does not sit directly on the water and this my be a perfect fit for the buyer.
• Tip #4: If the property is Canal Front or Canal Access, find out how shallow the water gets at LOW TIDE.
• Tip #5: What's more important to the buyer--the property or the house. Houses can be remodeled or completely redone. The Waterfront is what it is.

Search Baldwin County River and Canal Front Homes

Search Baldwin County Bay and Gulf Front Homes

If you like to run you will want to participate in the 3rd Annual Mullet Run in Fairhope, Alabama this Saturday,October 16. Registration begins at 7:30 and the race will begin at 8:30. The races begin at the Fairhope Museum of History and will end at Henry George Park, overlooking Fairhope Pier. The race benefits the BayArt Project and Youth Created Public Art in the Eastern Shore Area.

Fall Into Fairhope for a weekend of events, including the Grand Festival of Art. See what kind of deals are available in the Fairhope Homes For Sale link.
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Is there any place in south Alabama where football games are not available for TV viewing? If you can find it at the Magnolia Corn Maze on an 84-inch screen then you can find it anywhere! Go ahead and take the challenge and see if you can go anywhere over the weekend where there is electricity and NOT find a TV station on a football channel. That is one thing that you will find on the Gulf Coast--passion. Southerners are not shy about what they enjoy, how they spend their time and what they believe in. So just know that if you are a football fan you won't ever miss a game at an Alabama Festival!

The Magnolia Corn Maze starts October 1 in Magnolia Springs, Alabama. It's a great place for birthday parties, field trips and weekend family fun.

If you want a new perspective on "Beach Vacationing" try a condo or beach house on the Bay side of the Gulf instead of directly Gulf Front. Boating and fishing can be more pleasurable in calmer water. The sand is just as white and beautiful, not to mention the view of the remarkable architecture of the colorful beach homes.

I was blessed this weekend to spend some time at a fellow agent's condo on Perdido Key. What a peaceful and relaxing time! I was able to take this panoramic photo with my Droid X phone--a great phone for real estate agents. You can see the white sand even from a distance--there is no where else like it in the United States.

Statistics just released for last month's real estate sales for Baldwin and Mobile Counties still support the fact that it is a perfect time to buy Alabama Gulf Coast Real Estate.

Baldwin County August 2010

• The Average Sales Price in Baldwin County decreased by almost 8% to $199,160
• Average Days On Market increased from 176 to 179
• The Median Sales Price declined almost 6%
• Number of sales have increased in South Baldwin County

Mobile County August 2010

• Average number of days to sell the existing inventory increased to 16. This is called the absorption rate and is calculated by dividing the number of properties for sale by the number of sales. The U.S. average is 8.9. The absorption rate for August of 2009 was 11.43.
• Approximately 83% of total sales were priced under $200,000.
• Approximately 93$ of ALL sales were $300,000 and under.

Since the BP oil spill is over and the well is capped once again buyers are flocking to the Alabama Gulf Coast for waterfront property deals--condos and beach houses. The amount of Distressed Properties on the market at the beach continues to increase making the market excellent for consumers as well as investors.