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.
I just realized you all have been celebrating mardi gras so I'm going to bump this thread...
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.?
@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.
@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.
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?
My wife and I both went to South Alabama.
So what is stopping you from buying?
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.
@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?