Will Birmingham’s revitalization trend help property values?

birmingham barons

photo courtesy Michael Jones

Changes in the Birmingham Cityscape – In case you haven’t been paying attention good things are happening in Birmingham. There is a current trend in revitalization of the downtown area of Birmingham that includes a recent move by the Birmingham Barons to the new Regions field, the opening of first class restaurants, new craft breweries, the creation of Railroad Park, and an influx of new city dwellers, living in flats and condominiums, who want to be close to the downtown area.

With this change in the downtown climate I began to wonder if this would have any effect on property values, after all I am a real estate appraiser and I am very interested in what effect these changes will have on the value of homes in the area. Only time will tell but I believe that these positive actions by the city to change the downtown area will also eventually help the value of homes in local neighborhoods. Some of the blighted neighborhoods in close proximity to downtown Birmingham have reflected the lower end of the price range, however if these values increase then the overall price trends should increase. This should be exciting for local residents in the area as it will have a a positive effect overall.

Birmingham is finalist in All America City Award – No doubt as a result of the changing climate in Birmingham, the city is a finalist in the All America City Award. This is great news because it will provide positive press for the city. In the past Birmingham has suffered from bad P.R. related to things that occurred in the 1960’s, however I think this could help the city turn the corner and begin a new phase. Take a look at the YouTube video produced for the competition and like it, as this will help them win the video portion.

Have you been keeping up with all the positive changes in Birmingham? Leave me a message and let me know what you have enjoyed about the changes in the downtown area, I would enjoy hearing from you.

If you have any real estate appraisal related questions you can call me at 205.243.9304, email me, or connect with me on Facebook., Twitter, or Youtube.

Comments

  1. Revitalization is definitely a good sign. I watched the All-America City video. There is some good stuff happening. I hope you guys end up winning.

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