In the dangerous fiery of the mortgage meltdown there are pockets of tranquility. If you are considering moving to the South, don’t make a final decision as to your exact destination until you have visited Huntsville, Alabama. The city was recently voted no.1 city in the U.S. by the Kiplinger magazine for living and during business. The job market is steady and their are lots of opportunities particularly for those in the engineering field. Real estate prices in comparison to other cities are relative affordable and the standard of living better than most. Here are some stats on Huntsville area:
Population: 378,057
Income Growth: 9.7%
Cost of Living Index: 91
Median Household Income: $51,275
Percentage of Workforce in Creative Class: 40%
It would interest you to know that Huntsville is home to the second largest research park in the country, and engineering is part and parcel of the city’s bread and butter. As part of an ongoing consolidation of army bases and personnel — known as BRAC, the 2005 Base Realignment and Closure process — the arsenal, the army base in the Huntsville area will hire 5,000 more people over the next few years, and another 5,000 jobs will be added indirectly to the area. So optimism is running high.
Reports for Huntsville Alabama real estate market in June indicates that for the second straight month, sales of existing homes in Huntsville have increased with 795 being sold, according to figures released by the Alabama Center for Real Estate at the University of Alabama (ACRE), a group that collects statewide housing data from the local multiple listing services for its reports.
It was also the fourth time in the last five months sales have increased from the previous month. June’s total is the highest since 870 homes were sold last July and is a 19 percent increase over May’s 668 homes sold.
The median sales price was $153,500 in June, down 2.2 percent from May’s $157,000 and about 2.2 percent from $156,900 of June a year ago.
May I say that this is a great time to buy real estate in Huntsville! A combination of affordable housing, steady and stable job market, and low interest rate create the ideal situation to purchase a new home or begs the consideration of moving into your second property. It is advisable that you check with a local Huntsville mortgage broker or lender about the many opportunities in the real estate market. You may be qualified for first time buyer tax credit or you could take advantage of the new administration mortgage modification program. Anyway, a having professional realtor and mortgage lender could make your transition in Huntsville even more smoother.
Happy House Hunting in Huntsville!
July 25, 2009
[...] is steady and their are lots of opportunities particularly for those in the engineering field. Real estate prices in comparison to other cities are relative affordable and the standard of living better than most. [...]