BIRMINGHAM ALABAMA is fast becoming one of the nation’s HOT SPOTS for a young professional says the New York Times and the real estate market has incredible opportunities for investors. Home prices have increased every month since January 2012 but are still very affordable. In most of the country’s real estate markets investors are lucky to earn 10% on their investment. The rising cost of residential real estate has made it unaffordable for most of the privately investment companies to be successful. Welcome to Birmingham Alabama where you can still purchase a residential turnkey investment property for under $50,000.00 and look forward to earning over 17% ROI.
The city has been cleaned up and the revitalization project is truly amazing to see. They made a commitment to the people of Birmingham Alabama and have taken back their city. The inner city projects are gone and beautiful new townhouses have been developed. The city has knocked down all of the old schools and replaced them with new modern buildings. The city parks and streets have also been cleaned up and a lot of the old dilapidated buildings are gone.
The city has built a new $54 Million Dollar 750,000 square feet South Eastern Conference Sports Complex for indoor track, field and college swimming competition. The new $64 Million Dollar Regions Field minor league baseball stadium was completed in April 2013. The Birmingham Barons who are the AA affiliate to the Chicago White Sox plays in the new stadium and have been a part of Birmingham since the 1920’s.
More than 3,800 new jobs and $843 million in capital investment were announced during 2012 for the Birmingham metropolitan area report, a substantially improved performance over 2011 and for the decade leading up To 2012. The unemployment rate in Birmingham Alabama is typically in the lower half of all the nation’s metropolitan areas and is currently under 6.9%. Over 85% of the population age 25 + have a high school diploma which is well above the national average.
The Birmingham’s housing market is a stable market with slightly more inventory than a balanced market, making it a tremendous time to invest. Inventory has been shrinking as prices have been increasing. April of 2013 showed an 8.1 price increase and a 5.9% inventory decrease year over year. The Birmingham-Hoover-Center Point Metropolitan area has a population of over 1.1 million people. It is consistently rated as one of America’s best places to work and earn a living based on the area’s competitive salary rates and low cost of living. It’s a wonderful place to live and raise a family with good job opportunities and a great night life. There are several new restaurants, bars, shops, and great night clubs to choose from which are all located in the down town district.
Birmingham’s City Center extends from the Birmingham-Jefferson Convention Center to Five Points South and from Interstate 65 to the Red Mountain Expressway. As the heart of Birmingham, the City Center owes much of its ongoing revitalization to the efforts of Operation New Birmingham (ONB), a public-private partnership funded by the business community and the City of Birmingham with support from Jefferson County.
Neighboring deposits of iron ore, coal, and limestone—the composite elements of steel—served as the substratum for building Birmingham up as a great center of industry in the late 19th century. Today, Birmingham has transformed into one of the most important business centers in the Southeast and one of the largest banking centers in the U.S. One Fortune 500 company (Regions Financial Corporation) and five Fortune 1,000 companies call the city home. Birmingham also boasts a strong medical and research industry, with facilities such as the University of Alabama Medical Center and the Southern Research Institute gaining national prominence.
In closing, you can see that Birmingham, Alabama has all the intangibles needed to become on the nation’s strongest real estate markets in the very near future. The opportunity that exists right now for small and large investors is one that should not be overlooked like so many people did in other markets like Atlanta and parts of Florida. This is the time to invest in Birmingham and the surrounding areas so that you will have a share in the area’s growth and take ownership in the Birmingham residential real estate market so you and your family will have the security you deserve.