Why buy Real Estate in Huntsville?

Huntsville, AL has been officially named the 2nd largest city in Alabama. Huntsville has grown from 158,216 in 2000 to 180,105 according to the 2010 Census. The Tennessee Valley BRAC Commission states that the 2nd Recruiting Brigade will relocate this year. It will put roughly 700 transfers to the U.S. Army Redstone Arsenal in Huntsville, AL this year along with 782 jobs expected to open. Redstone Arsenal is expected to receive 5,000 positions from the Arlington, VA area, but employ several thousand more locally.

By the time the relocations set forth during the BRAC an estimated 4,700 new people will have been moved to Huntsville, AL due to job transfers. The 2007 Coldwell Banker Home Price Comparison named Huntsville real estate “The most affordable residential real estate market in Alabama.” Forbes Magazine named the Huntsville-Decatur Combined Statistical Area as “The 6th best place in the nation for doing business, and number one in terms of the number of engineers per total employment.”

“Buy a lot in Huntsville,” says Randall Griffin, the CEO of Corporate Offices Trust. Based on predictions of more military-related growth along with talks with Washington officials, Griffin gave that advice in a conference of commercial real estate pros. Griffin states, “The next round of base closings is expected in 2015.” However, another official believes it could be sooner than 2015.

In just the first two months of 2011, over 1,000 houses have sold in Huntsville and surrounding areas. Click Here to see a complete list of the real estate market from 2000 through February 2011. In addition to BRAC, Huntsville Hospital has won the rights to build another hospital in Madison County. Groundbreaking started in December of 2009 and is expected to be complete by February 2012. This hospital is projected to initially employ 300 people. Click Here for the latest newsletter.

 

Until next time..

Zack Childress

 

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