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January 26th, 2018 by Marco Santarelli
Birmingham Investment Properties
If you are thinking of buying Birmingham Investment Properties, you might be wondering whether it is a right decision or not. Well, for a start let us know a little bit about this beautiful city of Birmingham. It is in no doubt the most populous city in the state of Alabama. There are several factors that have led to the truth of this statement. It is 330 square kilometers of land and 5.2 square kilometers of water. The city was first founded in the year 1871 AD. Since then, the city of Birmingham, Al has seen an upward trend in terms of its population growth. One of the factors that have led to this increase is its rich nature of mountainous ridges and good share of physical scenery. Since its year of discovery, the city has been an educational central of state of Alabama and has been the favorite destination of many educational aspirants who come here to seek the careers of their choice. 100’s of schools have been set up in the city of Birmingham and several top notch universities. The city’s ever growing population shows a need for real estate investments and developments for the good of the new growing population. Therefore, buying Birmingham investment properties is considered to be a wise decision by experienced real estate investors who know the market very well.
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Economic Developments in Birmingham
In the census of the 2010, the city of Birmingham, AL had registered two 212,237 members of the public.
Vast development projects with some great come backs have been made in the city with buildings such as Wells Fargo Tower being acknowledged as the tallest building in the state on Alabama until 2007 when the RSA Battle House Tower was built.
100-year-old insurance agency, Fisher Brown Bottrell Insurance, has opened its first Alabama office in Birmingham.
According to the Mayor of Birmingham, the city is experiencing a unique surge in energy around enhancing the city’s innovative capacity, primarily centered on the “Innovate Birmingham” initiative. He announced that Birmingham Innovation will construct a 100-gigabyte network to bring more internet accessibility to the city.
The Mayor William Bell said the city has seen growth in the neighborhoods beyond the building permits. Community Safe Rooms are being built in in Smithfield Estates, North and Central Pratt and Sandusky at a total cost of $3.4 million. The building permits throughout the city’s neighborhoods are up 11.6 percent, and downtown is experiencing a building boom of more than $1 billion. The total valuation of construction is up by 50.7 percent.
There are proposed developments at the CrossPlex Village and Ensley Public Safety Complex and additions to the revitalization in Woodlawn, Avondale and East Lake.
The metro region has seen an increase of over 14,400 jobs under Mayor’s administration with major contributors like Kamtek, LabCorp and Oxford Pharmaceuticals.
Great profits have been reaped by real estate investors who bought Birmingham investment properties in the past, and I am sure that many more investors from across the US would come in with time to exploit the vast real estate market of Birmingham. The development forecast for the coming years seems promising with some great prospects. If I was an investor, would I be in luck investing in Birmingham investment properties? Well how about we discuss the city’s developmental progression and get the answer. Birmingham, AL would be a great place for real estate investment with an overall Niche grade of B-. This puts the city of Birmingham ahead of many other cities in the US.
Top Reasons To Buy Birmingham Investment Properties
For one, the city harnesses diversity having different people living together in harmony and unity. Crime rates are minimal in the area meaning security over time is evidently improving.
An interesting fact about Birmingham is that the rent percentage of housing is higher than the buying rate. What this means is that the rate at which natives buy houses is lower than the renting rate with a difference of 6%.
Buying rate is at 47% while renting rate is at 53%. This would be a good figure for anyone interested in investing in the area especially in building rentals and accommodation rooms.
Another interesting fact about the city is that it is ranked 36 among the 228 cities with lowest cost of living in America. The reason for the fast invasion of new inhabitants is now clear.
The Real estate cost in this city is ranging from $50,000 to one $100,000 for the buyers and ranges from $500 to $1000 for renting. This is one of the most affordable deals in the real estate market.
With the city being rated as a suburban city, it is moving in the right direction. There are great public schools in the city of Birmingham enhancing quality learning for students.
An investor who would come in to exploit the needy real estate market here would make great profits and also help out the residents when it comes to raising living standards.
Not only jobs but also housing facilities are required to cater for students. New real estate developments need to be made to house the learned percentage of the masses undertaking studies in the different Universities in Birmingham, and this shows the truth of the statement that it is an educational center for Alabama.
As per Trulia, Birmingham market trends indicate an increase of $12,000 (7%) in median home sales over the past year. The average price per square foot for this same period rose to $115, up from $112.
Birmingham housing market remains among the most affordable markets in the nation, which looks good for homeowners, investors and renters alike.
Birmingham is a steady real estate market where investors can purchase Birmingham investment properties for $80,000 to $100,000. This make it a prominent place for new investors to get their feet wet and for anyone searching for a good investment that can create stable monthly rental income.
Birmingham was ranked #1 in America’s Most Affordable Cities by Forbes.
Click on the link if your are interested in knowing about Houston Real Estate Market.
Best Neighborhoods For Birmingham Investment Properties
These are the some of the best neighborhoods in Birmingham to buy investment properties:
Huffman – Birmingham, AL
Huffman is a quite and peaceful area. The Median Home Value in Huffman is $114,042 and the Median Rent is $895. Zillow shows there are currently 35 Single Family Homes for sale and 9 Houses For Rent in Huffman Birmingham.
Spring Lake – Birmingham, AL
The Median Home Value in Spring Lake is $121,059 and the Median Rent is $989. Zillow shows there are currently 51 Single Family Homes for sale and 23 Houses For Rent in Spring Lake, Birmingham.
Liberty Highlands – Birmingham, AL
The Median Home Value in Liberty Highlands is $112,955 and the Median Rent is $969. Zillow shows there are currently 2 Single Family Homes for sale in Liberty Highlands Birmingham.
East Thomas – Birmingham, AL
The Median Home Value in East Thomas is $65,186 and the Median Rent is $741. Zillow shows there are currently 8 Single Family Homes for sale and 1 House For Rent in East Thomas, Birmingham.
Hooper City – Birmingham, AL
The Median Home Value in Hooper City is $87,383 and the Median Rent is $854. Zillow shows there are currently 5 Single Family Homes for sale in Hooper City, Birmingham.
Sherman Heights – Birmingham, AL
The Median Home Value in Sherman Heights is $61,549 and the Median Rent is $753. Zillow shows there are currently 3 Single Family Homes for sale and 1 House For Rent in Sherman Heights, Birmingham.
Roebuck – Birmingham, AL
The Median Home Value in Roebuck is $80,202 and the Median Rent is $848. Zillow shows there are currently 48 Single Family Homes for sale and 33 Houses For Rent in Roebuck, Birmingham.
Bush Hills – Birmingham, AL
The Median Home Value in Bush Hills is $77,114 and the Median Rent is $667. Zillow shows there are currently 16 Single Family Homes for sale and 1 House For Rent in Bush Hills, Birmingham.
Crestwood North – Birmingham, AL
The Median Home Value in Crestwood North is $179,710 and the Median Rent is $970. Zillow shows there are currently 11 Single Family Homes for sale in Crestwood North, Birmingham.
Roebuck Springs – Birmingham, AL
The Median Home Value in Roebuck Springs is $120,113 and the Median Rent is $1,207. Zillow shows there are currently 31 Single Family Homes for sale and 6 Houses For Rent in Roebuck Springs, Birmingham.
Birmingham, AL Housing Market Trends
Housing market trends for Birmingham, AL seem promising for investors as houses for buying are moderately expensive with prices as high as $300,000 for a condo and as low as $15,000 for one bedroom house. This is a good sign for both investors and potential residents.
Apartment rent price ranges from $ 1,100 as a high and $300 per month as a low. The median household income for Birmingham is $31,000 the national household median income is $54,000. This brings out the job prospect of this area as promising as many people are set to have descent income generating opportunities suiting the growing residential population, but more needs to be done in this sector.
To read about Dallas Real Estate Market, click on the link.
Advantages of Buying Birmingham Investment Properties
The advantages of buying Birmingham Investment Properties are that they will give you a 100% guarantee of returns and a great profit over time. Mortgage rates are ever increasing in Alabama State and in a few years’ time, business centers and market centers will be set up in Birmingham. Another thing is that in January 2015, the International World Game Executive Committee selected Birmingham as host for the 2021 world games center. The natural beauty of this city will obviously attract many different residents to live in the area. The famous tourist attraction sites such as the Shades Valley, the Red Mountain on the north of the city and the most magnificent the Cahaba River basin, are calling back people to the city of Birmingham. The city was named among the United States’ most diverse ecosystems. Birmingham investment properties have a capitalization rates up to 15.0%. For Birmingham investment properties, you need to pay lowest taxes in the US. According to Norada Real Estate Investments, Birmingham investment properties have a 3-year appreciation forecast of 10.6%.
The aim of this article was to educate and motivate investors to buy Birmingham Investment properties. However, I always recommend to do your own research and take help of a local broker. Birmingham’s development in the next coming years is a positive sign for the real estate investors looking to buy Birmingham Investment properties.
For an in depth review of Atlanta Real Estate Market, click on the link.
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