Birmingham, Alabama Home Sales-Least Expensive Home Sale in October-2010

In the past I have been telling you about the most expensive home sale in the Birmingham, Alabama area, however this month I thought I would look at the opposite end of the price range and look at the least expensive home sale.lowest price home in birmingham alabama october 2010

Foreclosures are all over the news now, and as you may surmise, the lowest priced sale is a foreclosure.  The property is located at 1308 Court R and sold for $1,200.  Yes you are reading that right, it sold for $1,200.  MLS and county records shows that the home has 2 bedrooms, 1 bath, and is approximately 1,000 SF in size.  The purchase and renovation of homes similar to this has been increasing in the Birmingham area recently.  Because they are priced so low it is possible to purchase the home, do significant renovations to get it up to code, and then sell it at a profit, but still below what other homes are selling for.

Are you seeing this type of activity in your area?  Hopefully more investors will get involved which will help the real estate market recover.

Comments

  1. I was at a foreclosure sale in the Cleveland area a while back. Read about it here http://www.americaneer.com/cleveland-foreclosure-real-estate-auction/

  2. Interesting. There is one market I appraise in that is similar to this. Homes sell for between $1,000 and $5,000. There hasn’t been any revitalization in the area yet. Hopefully there will be one day soon.

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