- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Alabama makes Top 5 most overvalued homes in 2024
Posted on 5/21/24 at 9:00 am
Posted on 5/21/24 at 9:00 am
Everything I've read on this board in the last couple of years is that Alabama is one of the best bangs for your buck as far as residential real estate goes, but this article using a Fitch ranking system places Bama in top 5 most overvalued homes in the US. What metro areas are driving this, Tuscaloosa, Montgomery? Doesn't seem right to me.
Top 5 States Most Overvalued Homes
Top 5 States Most Overvalued Homes
10
Posted on 5/21/24 at 9:05 am to Tomatocantender
quote:
Everything I've read on this board in the last couple of years is that Alabama is one of the best bangs for your buck
quote:not sure these are mutually exclusive tbh
Fitch ranking system places Bama in top 5 most overvalued homes in the US
Posted on 5/21/24 at 9:11 am to Tomatocantender
The housing market in the Madison-Huntsville area is most definitely overpriced. There are $500k subdivisions popping up everywhere.
Posted on 5/21/24 at 9:31 am to Tomatocantender
quote:
But the increase in homes being sold at prices over the long-term average was noticeably higher in a handful of Southern states.
I read this as these states had the highest increase in homes that are now overvalued. Not that these states have the most overvalued homes.
Posted on 5/21/24 at 9:33 am to Tomatocantender
Easy to understand. If you are paying anything to live in Alabama, you are paying too much.
Posted on 5/21/24 at 9:44 am to Tomatocantender
quote:
What metro areas are driving this, Tuscaloosa, Montgomery? Doesn't seem right to me
Primarily the Huntsville metro area and the Daphne/Fairhope/Foley metro area...which are two of the 10 fastest growing metro areas in the country outside of Florida and Texas.
Throw in the sugnificant growth the Auburn and Tuscaloosa metros along with the neverending flight in Birmingham from the city to the suburbs and the other factors mentioned in the article and it makes some sense.
Montgomery, btw, isn't a factor as far as growth goes
Posted on 5/21/24 at 9:46 am to Tomatocantender
My mom sold her house in Priceville a few years ago before they moved to Florida. She looked less than a year later and the asking price was 100K more than when she sold it..
Posted on 5/21/24 at 9:47 am to Esquire
quote:
Easy to understand. If you are paying anything to live in Alabama, you are paying too much.
Yes, please convince your friends to stay out as well.
To answer the question, you had a LOT of retirees from Michigan, New York, Illinois, California, etc. flooding down here during the housing boom tossing down cash left and right. It doubled and tripled home values seemingly overnight. From what I can tell, most of it is still going on, but "value" is very subjective and I'm not sure what their math is on it. You just have people who live in small near million dollar set-ups coming down here and dropping 300k for much more property and space.
Posted on 5/21/24 at 9:51 am to Tomatocantender
Seven years ago I bought an 1100 square foot home in Alabama for $180K and it's now estimated at $325K. Come at ya boy.
This post was edited on 5/21/24 at 11:46 am
Posted on 5/21/24 at 9:57 am to Tomatocantender
California not being on this list instantly invalidates this ranking
Posted on 5/21/24 at 10:30 am to East Coast Band
quote:
California not being on this list instantly invalidates this ranking
I think Fitch's rationale is that Cali has been overvalued for so long (at least since start of Covid) that a new base $ amount has been established, so Fitch doesn't technically consider it "overvalued" per se. But the 30k view would put Cali at the top of any overvalued list as you said.
Posted on 5/21/24 at 10:39 am to Tomatocantender
Yall think yall are too fancy for a trailer. If you want value get you a trailer in Mobile. Got everything a man can need.
Posted on 5/21/24 at 10:51 am to Tomatocantender
Factor in Orange Beach and Gulf Shores as well.
Posted on 5/21/24 at 10:57 am to Bamason
Once i got out of deepest,darkest Mobile, I like living in Alabama....
Posted on 5/21/24 at 11:00 am to LSU Grad Alabama Fan
quote:
Seven years ago I bought an 1100 square foot home in Alabama for $180K and it's now estimated at $325K. Come at your boy.
Common theme in the south....which makes sense as to why almost all the top 5 states listed as "overvalued" are in the south (TN, AR, SC, and AL).
This post was edited on 5/21/24 at 11:01 am
Page 1 of 1
Back to top
Follow TigerDroppings for LSU Football News