2014 Market Recap

23 Feb 2015 · Bellator Blogger

“The greater danger for most of us lies not in setting our aim too high and falling
short; but in setting our aim too low, and achieving our mark.” – Michelangelo

Entering 2014 we had lofty expectations and rightfully so. All indicators pointed to a blockbuster year that would pull the market back to the kind of valuations, transaction volume and development activity we were accustomed to almost a decade ago. Although the past year didn’t see our ambitious outlook fully materialize, all was not lost. Not every statistic will show it, but shutterstock_121551301-300x176 meaningful headway was made across the Coastal Alabama real estate industry leaving us optimistic about the future. We continue to feel that the market remains on the cusp of igniting, but the steady growth over the past 24 months may be a blessing in disguise. None of us want to see the sins of the past revisited. Interesting times undoubtedly lie ahead as speculation has once again returned in the form of new development fueled via out of town investors enticed by rapidly depleting inventory levels and presumptions of above average price appreciation in the forthcoming years. The secret is officially out that we truly have something extraordinary along the Gulf Coast, and we are confident that our best days are yet to come.

Bellator Update

2014 was a productive year for Bellator Real Estate & Development despite coming in just short of our stated goal of $250,000,000 in total closed volume. We concluded the year at $227,654,994, which was a 20% increase over our previous high of $190,135,635 attained in 2013. For the second consecutive year, we finished second county wide in closed volume as measured by Baldwin County MLS to Brett / Robinson, which had another tremendous year driven by the close out of its immense Phoenix West II project after over eight years of construction. As a company we expanded our robust agent base 45% by increasing our number of sales associates from 77 to 112 by year end. We also are elated to announce the addition of the Coastal Real Estate & Development Gulf Shores office headed by Bob and Frank Malone to the Bellator family. With the inclusion of the new Gulf Shores office Bellator now has seven locations across Mobile and Baldwin Counties in which to serve its clients.

As a company with a contagious culture of ambition, we set our closed volume goal for the upcoming year at $293,900,000, a 29% leap from 2014. Bold? Absolutely, but with our conviction in the fortitude of our market as well as our amplifying sales force we have nothing but faith. We are embracing a “Not Yet” mindset for 2015. The connotation of our mantra is two-fold. The first meaning is that we refuse to fail; instead, we turn our perceived failures into stepping stones on our path to the goals we have not reached…not yet. The second meaning is that although we have had perceived success in the past, we are nowhere near reaching our full potential….not yet. 2015 is going to be an incredible year.

Download the full 2014 Market RECAP here