gulf shores

Vacation Rental Prices Cut By Half Along Alabama's Shore

As the oil washes ashore in the Gulf region more and more vacation rentals are getting some deep discounts. The Mobile Press-Register reports that some property managers are offering as much as 30 percent to 50 percent cuts at condominium units and beach houses. Cancellations have been rising and there has been a struggle to fill the properties. The article quotes David Bodenhamer, a partner in Young's Suncoast Vacation Rentals in Gulf Shores, who says he received $220,000 in cancellations in just three days and that they are running at less than a 50 percent occupancy. Even with new lower rates they still aren't getting enough takers as more and more people are opting to stay away from beachfront rentals.

As the picture above shows, Gulf Shore, Alabama is full of tall buildings positioned on the white sand beaches. Recent updates have waters closed at the cities of Gulf Shores and Orange Beach. The beaches are open and visitors can walk on the beach but that isn't being recommended. The Alabama Department of Public Health has expanded the swimming advisory to gulf waters off Gulf Shores, Orange Beach and Fort Morgan, as well as bay waters immediately adjacent to Fort Morgan, in Bayou St. John, Terry Cove, Cotton Bayou or Old River. Beach raking machines are scouring the beaches. Small tarballs have also started to wash up on nearby Dauphin Island, another popular spot for beach rentals.

Can condo owners find relief from BP? Alabama's WAFF has a report on a woman who rents out her Gulf Shores condo. She filed a claim with BP for her losses and received a check. As the situation continues to worsen more condo owners who rely on vacation rentals in order to pay their mortgages may have to take similar action.

Tags: alabama, dauphin island, Gulf of Mexico oil spill, gulf oil spill, gulf shores

Gulf Shores Condo Auction

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Auction company Sheldon Good is at it again, this time in Alabama selling off 35 condos in the San Carlos condominium project on the Gulf Coast. The condos are two and three bedroom units, 15 of which were priced to sell at nearly $850,000 and will have suggested opening bids of $200,000. The area is also in the GO Zone, which means the units are eligible for certain tax incentives designed to spur growth in the hurricane-devastated region. The building is a 20-story, high-rise building fronting the beach. It was built in 2006 and there are nine units per floor. The building includes a beachfront outdoor pool, fitness room with sauna and a banquet room.

The auction will take place Aug. 17 at the Renaissance Riverview Plaza Hotel in Mobile, Alabama at noon. Open houses are currently available Wednesday through Sunday in the afternoons.

[via Birmingham Business Journal]

Gallery: San Carlos Condo Auction