Pensacola Florida · Member since 2017 · 23 posts · 8 votes
Hi everyone, I was just curious how the market is these days in the Mobile area. People I have talked to just usually say it is "getting better", but I'm not getting a ton more info. Would you say it is buyers, sellers, neutral market? Are things pretty steady? Did Airbus bring a lot more activity to the area, is anything else relevant going on? Thanks everyone, hoping to get some regional conversation started.
Real Estate Broker · Fairhope, AL · Member since 2017 · 32 posts · 18 votes
7y
Hey everyone..I am a licensed agent in Louisiana and Alabama and currently practice in the Mobile DMA. I spent about 10 months living in Baldwin County (City of Spanish Fort) when I first moved here and it is certainly more of a bedroom community for Mobile workers. Lots of buyers in Baldwin County (Spanish Fort/Daphne/Fairhope), great school districts, newer homes, new developments, lots of chain restaurants and businesses. I live in West Mobile now and have seen things moving in the right direction. Interest rates are down and anything under 200k sells really fast. It is amazing how much home you can get here for the price. In Lafayette, Louisiana I could only afford about a 1800-2000 sqf home. I just purchased a personal residence here that is 3200 sqf for the same price as I could afford back home.
Although licensed, my focus is on assisting investors with rental property, fix and flips, and personal investments (both long term buy and hold and flips). I successfully wholesaled a deal to an investor a few weeks ago and unfortunately just lost another deal to a probate issue but otherwise the market is strong under 250k. I've found Mobile to be extremely hit or miss and that location is of the utmost importance here. West Mobile, Saraland, and Midtown are starting to boom, however, pick the wrong street and the returns are extremely diminished.
I'd love to chat about the market with anyone who has specific questions or concerns. Inbox me! Happy Investing!
Mobile, AL · Member since 2017 · 7 posts · 2 votes
9y
Eric,
I was hoping to see more life in the local Mobile forum. I am as new as they get to the real estate gig so I cannot take the pulse on the current real estate climate in Mobile. Looking for a mentor as I'm fumbling around the idea of wholesaling. Maybe our conversation can stir up a little more. What kind of real estate do you work with in Mass.?
Pensacola Florida · Member since 2017 · 23 posts · 8 votes
9y
Ethan Anderson , thanks for the reply! I'm moving to Mobile this summer and looking to get involved down there. I will be closing on my home in June and plan to rent that out when I leave in 3 years. I am military and interested in buy and hold. Seems like the single family market in mobile heats up for about 2 months in the spring then goes cold. For wholesaling I bet you could get some good deals in the winter then sell in April if you time it right.
Mobile, AL · Member since 2017 · 7 posts · 2 votes
9y
@Erik Price, How did you get this overall feel for the market here? Where did you buy? My wife and I were looking to buy a house until the baby showed up in January. We haven't had time to really look since then. We're renting the same apartment we were in while attending school.
Pensacola Florida · Member since 2017 · 23 posts · 8 votes
9y
My opinion on the market was formed by talking to multiple realtors in the area, as well as multiple property owners who were selling or renting their property this past spring. Also I watched Zillow and realtor.comvery closely for about 6 months. I get the Zillow market reports. My area of focus was west of schillinger in the baker school district, and I bought in a neighborhood near airport blvd and snow road. Things may be a little different in other areas of Mobile. Did you go to South Alabama?
Mobile, AL · Member since 2017 · 7 posts · 2 votes
9y
My wife and I are not sure what the next few years look like for us. She wants to end up in Houston TX where she's from - so we're not sure about making the commitment. Our 4month old baby also has food protein allergies and requires an expensive diet. With my wife staying at home, we wouldn't be able to afford a house nicer than our apartment, currently. She also has a very nice 4Runner that reduces our housing budget by 70,000. I'm trying to stick to the Dave Ramsey debt free plan in which you're supposed to pay off all debt before taking out a mortgage.
Pensacola Florida · Member since 2017 · 23 posts · 8 votes
9y
Ethan Anderson I'm curious since you have experience as a USA student, do you think there is a market for Single family homes rented out to students in the area around the campus? What neighborhoods would you recommend?
Investor · Jacksonville, AL · Member since 2017 · 26 posts · 4 votes
8y
Hey guys. I'm also interested in the mobile market. I like what I see with the downtown rejuvenation and what they are doing around the port to bring jobs. I'm in north Alabama but travel to the coast frequently. Erik you mentioned wholesale and I would be interested in any deals you come across. I am looking to get in more MFR stuff but will look at anything.
San Francisco, CA · Member since 2017 · 10 posts · 6 votes
8y
Hey guys - @Josh Carlegis@Ethan Anderson@Erik Price ... I, too, was hoping to see more life in the Mobile forum... I am flying in June 30- July 5th to get the lay of the land and see about starting a team (I have friends there)... wondering now that you've been there / been working there a bit, what your take on the local market and economy is? Do you have any neighborhood suggestions? Property manages? Warnings? ;) If you're around an available, would love to meet up and buy you a beer.
Currently inventory has decreased and sales are increasing, however the Market here is stable. With interest rates being high you'd think we'd be in more of a Buyer's market however the inventory has decreased so sellers have some power still. In summary the market's stable. My prediction is that we will be moving towards more of a Sellers market, incoming foreclosures have decreased and hopefully we'll see interest rates start to improve.
Mobile, AL · Member since 2010 · 238 posts · 44 votes
8y
With Walmart distribution center opening soon as well as the same for Amazon and another Airbus type company coming in (partnering with Airbus???) I am told the market for rentals is growing at a fast pace.
With Walmart distribution center opening soon as well as the same for Amazon and another Airbus type company coming in (partnering with Airbus???) I am told the market for rentals is growing at a fast pace.
This sounds really good. I'm looking into getting into the Mobile market also. For anyone else trying to figure out if they should, I'm doing comparables and looking at market history, and analyzing the average rental rates. You can get a lot of this info from Trulia and Craigslist.
Property Manager · Destin, FL · Member since 2017 · 3 posts · 0 votes
7y
We are seeing improving trends in Mobile, however Baldwin is still garnering a higher rent per SF. I would be happy to assist with Rental Projections in Mobile and Baldwin County if needed.
Flipper/Rehabber · Franklin, TN · Member since 2016 · 17 posts · 5 votes
7y
Any more updates on the Mobile market? I'm looking to go down there in about a week to take a look around in the 36606 area. Are there any other areas I should be looking in or staying away from? From the research I've done, it seems like a good place to invest in. There's just not much posted about it on BP.
Also, if you are or can recommend a Realtor for the Mobile area, I'd greatly appreciate it.
Investor · Fort Collins, CO · Member since 2018 · 165 posts · 127 votes
7y
@Korey Hodges my father is a realtor in Pensacola Florida for the last 18 years, and we were born and raised in Mobile Alabama. He can make sure to get you a great realtor in the mobile market through this referral network. PM me if you would like me to introduce you so you can find a stellar agent for your needs
I live in Pensacola to get over to Mobile somewhat frequently. I have to say Baldwin County is really nice . Great communities great location . As far as Mobile , like any other city, it's very hit-and-miss depending on where the property is located. Some are absolutely horrible with high crime and others are on the other end of the spectrum. if it was me and I was making a choice between the two, Baldwin County is a no-brainer.
Rental Property Investor · Fairhope, AL · Member since 2017 · 69 posts · 52 votes
7y
I would say stable. The University of Alabama is rapidly growing and I know the area, so I like to buy in West Mobile. I would say North Mobile is growing too, like in Saraland, because of their highly rated school district. I like buying in Baldwin County as well, but getting Fairhope properties is pretty hard. Much easier to pick up properties in Mobile. Does anyone know more about downtown Mobile? Looking to get some properties in that area but I don't know the market there.
Hi everyone, I was just curious how the market is these days in the Mobile area. People I have talked to just usually say it is "getting better", but I'm not getting a ton more info. Would you say it is buyers, sellers, neutral market? Are things pretty steady? Did Airbus bring a lot more activity to the area, is anything else relevant going on? Thanks everyone, hoping to get some regional conversation started.
Erik, how did your move to Mobile turn out? I'm an independent Mortgage Broker originally from Mobile currently living in Houston. From my research there has been a steady increase in home prices in Mobile. I talked to a realtor who says some of it is folks moving back from Baldwin county because its cheaper and because of the commute.
I'm looking to invest heavily in the area. There's a lot of things being developed (i.e. the increased container business, auto export, a new consolidated airport downtown that will likely be international, the redevelopment of Broad Street, the redevelopment of downtown Mobile, city council announced in July they are talking with another Airbus supplier to move to Brookley Field, the development of the Technology Corridor downtown) all of which are going online now, next year and the years to come.
I'd be interested to hear your input. I have a cadre of lenders who specialize in FixNFlip, FixNRent, Portfolio Lending, Commercial Office Retail and Commercial Residential.
Investor · Austin, TX · Member since 2019 · 229 posts · 229 votes
7y
Hello all. I live in Sacramento, CA but have an opportunity to purchase a property either subject to or lease option in Mobile, Al. I'm curious if anyone here is doing these types of deals.
Real Estate Agent · Mobile, AL · Member since 2019 · 4 posts · 0 votes
7y
@Korey Hodges I agree with @Laura Verderber there is a ton of opportunity in the West Mobile area (where I live), Saraland, and Semmes. @Wendy Hayden is also correct that Baldwin County is where the majority of the people I speak to are seeking to move to, if not looking at the areas mentioned above. Also, @Korey Hodges,@Korey Hodges I have a great friend who has been in the game for over a decade started out with Remaxx and now owns his own brokerage in Mobile. Would love to introduce you to him if you're still looking. Excited to see a little more action in this thread. I'm in the process of obtaining my realtor's license, but ultimately looking to buy and hold. Would love to connect with all of you one day, with or without drinks!
Investor · Austin, TX · Member since 2019 · 229 posts · 229 votes
7y
@Jay Helms great to know! Another opportunity has came up to acquire another long term hold as well. I have never been but it looks like I’ll be setting up a trip there soon to see it with my own eyes.