Updated over 12 years ago on . Most recent reply
May I have permission to...
Ok, not really permission but input would be appreciated.
I'm looking at a home inside of a school system known to be very desirable. The city is entirely made up of expensive (for the Birmingham market) homes and is thought of as the trendy area in town (little restaurants, shops, etc).
2/1 bath homes sell for the low 200's and this is a 3/1 bath in move-in ready condition listed in the 90's. My reservation with this home is that it is located in literally the last 4 block area to be renovated in the area. It is 4-6 blocks from the trendy homes, 1/2 mile from the shops/restaurants, 1 mile from the bar area known at 5 pts, and 2 miles from a major highway. The area is also low crime.
I would be buying to live in it for the school system so that I could move out of my most recent project and rent it out (located closer to the university). My concern is that this area may never be "gentrified" and appreciate into the 200-250k price point, but what are your thoughts/input/devil's advocacy?