Birmingham Alabama Real Estate

Birmingham, Alabama was recently listed #3 in CNN/MONEY magazines list of the 10 Fastest Growing Real Estate Markets in the US!  Although this may be a surprise to some, as a real estate agent here in Birmingham, this isn’t that great of a surprise to me!

CNN/Money Provided the data below Regarding Birmingham:

12-month forecast: 2.7%
Median home price: $156,000
One year price change: 2.9%
Five year price change: 29.4%
Change in foreclosure rate: 20%

The one number that I do believe “sticks” out is the change in foreclosure rate.  Up 20% means that there are going to be some good buys available in some of the hottest areas of town.  Especially areas of town that grew in price dramatically faster than their surrounding neighborhoods and communities.  You will even find a few new construction homes under foreclosure in popular neighborhoods being sold by banks to recoup their investments. 

Interested in Buying Birmingham Real Estate now?

You should be!

Click to read the full article from CNN/MONEY.

Birmingham Real Estate Void

The exists today a void. A void of new construction single family homes between the price of $150K and $200K in popular residential areas such as Pelham, Helena, Hoover, and Alabaster. This has created unique opportunities for residents in established neighborhoods with homes priced to sell with in the void’s price range. This juxtaposition is something I find rather amusing. It was just a few years ago that these established neighborhoods were taking a beating by all the new construction homes sprouting up all over the Birmingham area. Now, it’s payback time.

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