Real estate in Mobile, Alabama is looking up and there are plenty of reasons why.
Many realty firms believe that real estate in Mobile, Alabama is going to be the next big thing after Airbus announced the opening of its first U.S. factory in the city. According to Realtor.com, the aircraft manufacturer has announced an estimated 3,700 job openings for Mobile citizens and in a city of almost 20,000 people, it is certainly a big reason to be optimistic about the prospects of real estate in the area.
However, in the same report by Realtor.com, Mobile is far from perfect and property buyers need to be wary of the red flags before they invest their hard-earned money. For one, crime rate is high in the city; even higher than that of Alabama and the average for all cities in the US. And not only that, areas affected by Hurricane Katrina have not fully recovered. Many of the homes in those areas have been severely damaged by the flooding. Layla Christian, a realtor with Re/Max Partners based in Mobile said that the city is like other cities in the country, downtown is not the safest and should be avoided at night.
The report also said that there are many areas that are safe especially in the west of Mobile. Christian mentioned that in the past 10 years, 2015 is the best so far in terms of sales and buyer interest. Property prices in Mobile are relatively lower. An average home costs $125,000 but properties in the city can go as low as $119,000.
Meanwhile, according to Travel Pulse, negotiations are underway for Carnival Cruise Line to return to Mobile, Alabama. Once approved, the deal figures to boost tourism activities in the city which will have a positive impact on real estate valuations.