Real estate signs positive in Gulf County

Published: Thursday, September 26, 2013 at 10:33 AM.

Gulf County wasn’t hit only by the economic downturn of 2008 but also by the BP Deepwater Horizon oil spill.

Bo Spring, managing member of Big Fish Construction and president of the Forgotten Coast Builders Association said that the 18 months following the oil spill were full of uncertainty and the number of local construction companies had dwindled down to five.

Spring said that things are beginning to climb again and said that in addition to Big Fish, there are now 8-9 companies serving Gulf and Franklin counties.

Zach Childs at 98 Real Estate Group concurred with the growth in sales, and said that home purchases in the area have started moving into the recovery phase as well.

“In general, the closer a property is to white sand, the more of a recovery in value it is seeing,” said Childs. “The number of single family homes on the market has seen the biggest reduction and most demand.

“This has been great for builders as many people looking for homes in the area find they can build a brand new home for less than an existing one in some situations.”

Childs reported 453 home sales so far in 2013 and is on track to have the most closings of any year since 2005. He said that markets like North Gulf County have yet to see much of a rebound but a high sales volume will drive the number of properties on the market down and value up.

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