Enterprise Alabama Local Real Estate Market
The national media's reports on the housing slump do not apply to the Enterprise real estate area because of the unique market in which we live. The wiregrass area is composed of a large number of government employees (including active duty and retired military as well as civil service employees and defense contractors) that are continually cycling in and out of Fort Rucker. Our market remains consistently stable for reasons directly related the nearby post
First all active duty and retired military are qualified for VA loans which are less risky and more stable in conventional loans. Therefore, the chance of a loan default is reduced. This is a positive thing not only for the mortgagee but also for the residential housing market in general because more loans can be made and more houses can be sold, which naturally boosts the economy. Secondly, the cyclical nature of jobs on Ft. Rucker accounts for an extremely tight rental market; occupancy levels remain around 97% which is considered full occupancy because the remaining percentage accounts for turnover (at any given time, 3% of tenants are moving in or out). Therefore, provided that it is in good condition and priced at market rent, a residential property is virtually guaranteed to rent if an owner relocates. On addition, many soldiers who move into the area as active duty end up retiring here for a variety of reasons, which include our friendly people, beautiful weather, and availability of military- related jobs. In fact, Enterprise was listed as one of the top 25 places to retire in the March/April 2005 issue of “Where to Retire” Magazine.
Our claim that we live in a market unique to what the rest of the nation is experiencing is proven by looking at statistical data. This CENTURY 21 office is third in the region (which includes Alabama, Georgia, and northern Florida) in number of units sold for the month of September. That places us ahead of every office in Birmingham, Huntsville, Montgomery, Mobile, Atlanta and Tallahassee. Also, four of the sales agents in our office rank in the top 100 in the region out of approximately 4,000 agents for number of units sold for the month of September. And finally, we have a team of two agents in that been ranked number one in the region in terms of units sold for five months in a row.
Basically, any time is a great time to purchase real estate in the wiregrass area. Yet the present in an especially appropriate time for reasons other than our constant market conditions. For one, interest rates have remained low. Also, inventory is plentiful, providing buyers with slightly more negotiating power. All in all, now is the perfect time to buy Enterprise AL real estate.loan modification then you can get reduction in the principal balance of your mortgage loan amount. The main purpose of this loan modification is to make it more affordable for you so that you can make payments on time and can save your house.
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