-StacyWith more interest in AL, the time to get a quote back from a State submitted tax property ‘had’ become increasingly longer… but the State has decreased their time to 10 days (which you used to be 21 days) for all responses to quotes so if you’re in line and the applicants bypass before it’s redeemed you can get a quote sooner.  

Buyers are taking advantage of opportunities, with the median sale price increasing by 3.2%, now sitting at $640,000.But cash deals are down—just 21.6% of homes were paid for in cash, a 22.8% decrease from last year.

But, this doesn’t reflect the fact that the initial investment decreased from $100 to $50 over two years.The flaw with ARR is that it doesn’t take into account compounding or the actual sequence of returns.

Rates have now decreased from averages in the mid-7's to now upper-5's, yet the market has not seen a "speed up" -- likely due to the seasonal swing, and the upcoming election. 2025 should see strong property value growth, with increased inventory, but also increased buyer activity with rates expected to continue downward. 

Family groups were the main segment of demand in the area so we added a PS5, next level colorful beach chairs, Nintendo switch, hammocks on the deck, re-staged, retook the photos and increased revenue to $67k in a year that RevPars had decreased for the market   Woah Zach !

With rates dropping to under 3% now with extremely limited inventory any bump in demand will cause prices to increase not decrease but again it’s all economics that will determine value.

.- Mobile’s low cost of living and doing business provides a desired aspect to renters that can’t be achieved elsewhere, which provides a steady influx of renters thereby decreasing vacancy rates.

It's even more irrelevant if you are buying a similar home in a market that also has decreased in value.

Despite a slight decrease in total sales (-1.2% compared to 2023), average home prices have risen by 8.5%, with median home prices around $275,000 as of August 2024.

Timing wise as well, though the good STR properties haven’t seen much if any decline in prices have seen a decrease in competition to buy.