If you are looking for investment opportunities in Birmingham, AL then it is important that you remain up-to-date on the status of the local real estate market. Birmingham, like many other cities throughout the United States, is making progress significant strides toward real estate market recovery – putting the last few years of turbulence in the rear-view mirror.
According to the Alabama Center for Real Estate (ACRE), the median sales price for Blount, Jefferson, Shelby, and St. Clair counties increased 17.4% from April 2012 to April 2013. In addition to rising home prices, home sales are also increasing. Specifically, there was a 9.4% increase in home sales from April 2012 to April 2013 for the greater Birmingham area.
This news shows that home prices and home sales throughout the Birmingham area are increasing, which is indicative of real estate market growth. More than likely, home prices and homes sales will continue the slow but steady increase throughout the near future. Therefore, if you have been waiting for an opportunity to invest in Birmingham real estate while prices are still low, then now is a great time to invest.
Birmingham Investment Property Options
When it comes to investment property, investors typically either utilize the property for house flipping purposes for (hopefully) a quick profit, or they turn the property into rentals. Over the last few years, many people have been purchasing discounted properties and putting them back on the market as rentals until the market makes a full recovery – at which time many will then sell the property for a nice profit.
However, not everyone wants to be a landlord—understandably so. That is where Birmingham, AL property managers come into play. There are many reasons to hire a property manager for your Alabama investment property. If you are looking to purchase investment properties in Alabama then allow a property manager to perform the duties you do not want to do so that you can focus your efforts on finding more investment opportunities.
In conclusion, the Birmingham real estate market is making progress—slowly but surely. If you want to take advantage of still low home prices and mortgage rates, then start looking for investment properties today.