Best Places to Live in Alabama
Alabama is your quintessential Southern state with a laid back and friendly atmosphere. Hence, it is no wonder why a lot of home buyers are coming into this real estate market to find the best properties and deals for their money. Residential real estate is the most in demand form of property in the state and there are plenty of cities that will serve as a good place to invest for home or property buyers.
Whether you are planning to relocate, or buy or sell property in Alabama, you need to focus on finding the right city to invest in. If you are looking for a peaceful Southern haven, this state is the place to be! But how much do the properties cost?
Mobile is one of the top cities in Alabama that property buyers (and sellers) can check out. The city is teeming with a variety of homes for sale, which are high prospects for excellent real estate deals. After all, the city is within close proximity to local amenities and sights of interest, along with a host of outdoor and family-friendly activities.
This port city is also rich in history that make it a favorite place to frequent by tourists. That is one other factor that would add to the growing list of reasons as to why you must choose to buy a property in the area. Many are referring to it as the new "New Orleans" wherein the charm of this southern city is slowly being recognized by property buyers.
As of January 2012, the estimated median prices for homes in Mobile, AL is at $87,400. This shows up to 12% decline in the prices for homes in Mobile in comparison to the data for the past two years. The highest median price for homes for sale in the city stood at roughly $110,000 last March 2008. Hence, it presents another great opportunity for home buyers in Mobile because it means that you can potentially get great deals for a bargain price.
Another popular city in Alabama for home buyers is Huntsville. This city is known as the home of the US Space and Rocket Center, and yet it has retained its distinct southern charm. The unique blend of the old and the new is what makes this southern city unique on its own.
According to Alabama real estate data for the past 5 years, median prices went from as high as $142,000 to its current average of $126,300. This is the lowest that prices in Alabama properties had gone in nearly a decade and so it opens up a huge opportunity for home bargain hunters to take advantage of.
Birmingham, although one of the more prominent cities in Alabama, is still considered as a micro-sized neighborhood in the real estate industry. Because of this, the market is highly dependent on property prices. But it has not phased whatsoever the level of demand for family sized homes in the area; in fact, real estate experts have noted an increase in housing projects in a lot of areas in Birmingham
But still, there are more houses up for sale than sold in Birmingham. This is a good opportunity for property scouting for prospective home buyers in the area. Do take note, however, that prices for these properties come in at an average price of $113,400, which also dips from the near $200,000 prices way back in 2007.