While it is no secret that Fortune Builders is seriously passionate about investing in real estate in San Diego and Connecticut it never hurts to keep eyes open for emerging opportunities.
We’ve all heard how investors around the country are having a tougher time with REOs and that so many popular destinations from Miami to San Francisco are so hot it’s almost ridiculous. Even Phoenix of all places has been attracting tremendous investment from all over the world.
Then there’s Mobile, Alabama.
Could this be one of the most underestimated real estate investing destinations of 2012-2013?
Alabama doesn’t get on many people’s radar but Mobile presents an attractive, historic and extremely important waterfront city that could well become far more popular in the near future.
The search for jobs, cheaper vacation spots and waterfront homes as well as the desire for larger lots and a better pace of life could well see Mobile, AL real estate in far more demand in the next few years as more discover it, especially if the economy doesn’t turn around in a big way really fast.
The local area offers tons to do for tourists from historic forts to fishing, pristine beaches, the USS Alabama park and of course tons of great seafood. Plus, most investors may find they get a lot more for their money than they do at home and where acreage and beachfront homes can be found at extremely attractive prices.
According to Realtor.com and the MLS there are around 2.049 properties currently available for sale ranging from a handful of homes from as little as $6,000 to lush wooded estates on 20 acres sporting 5,000 sq. ft. homes compete with sparkling pools, 6 bedrooms, 9 baths and fireplaces from just over $1.5 million.
There is quite a bit of diversity in foreclosure activity but the area is currently much more moderately hit than many of today’s hotter states, suggesting more stability in home values for the future. However, the latest stats from Trulia show home prices here still trying to bottom, even though listing prices recently jumped a healthy $20k in the period of a week.
Definitely an interesting market to watch which is sure to hold some golden deals for investors who really dig into the data or just want a sunny spot for their own waterfront estate for a little less dough.