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Old 03-16-2008, 12:49 PM
 
Location: Cedar Rapids, IA
5 posts, read 17,202 times
Reputation: 10

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My wife and I are planning on moving to Huntsville later this year and are trying to make the best home investment possible ($100K-$200K range) that will appreciate the most over the next 5-7 years. We love to fix up homes and are considering a fixer-upper close to Redstone. There are also many new construction opportunities right now in the area that could be a great deal. SE Huntsville and Madison seem to be the best bets due to their good schools and proximity to Redstone. Any opinions about what would be better?
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Old 03-16-2008, 01:07 PM
 
262 posts, read 671,644 times
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Just be mindful of the schools. I know we saw many rentals in Lake Forest available, but did not consider them because of the elementary school they were zoned for.
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Old 03-16-2008, 07:53 PM
 
Location: Madison, AL
410 posts, read 1,415,461 times
Reputation: 127
No one's crystal ball is perfect, but my best bets for investment potential are properties just south of the Tennessee River in Morgan County off Memorial Parkway and Lowe's Mill. But, frankly, the market in Huntsville is a little bit overpriced right now here with all the BRAC speculation going on. Expect a mild correction in 2-3 years -- probably in the form of flat values for a year or two instead of outright depreciation, except for specific dramatically overpriced new neighborhoods -- and then a return to regular, steady appreciation after that.

In 5-7 years you are probably not going to see a big return unless you hit the jackpot in just the right area or have the skills to perform a major renovation for pennies on the dollar. If you do have those skills, I would recommend Lowe's Mill. It's not a great area right now, but it seems well positioned for gentrification.

Alternately, you could try some of the distressed properties along the north of Five Points. It's less of a gamble than Lowe's Mill. The overall renovation and expansion of Five Points is moving in that direction, but all the nice, fixed-up properties are already selling for premium prices.

Both Lowe's Mill and Five Points are historic neighborhoods. Personally, I expect these kinds of in-town neighborhoods to continue to appreciate at a much greater rate than the outlying areas as energy prices continue to spiral upwards. They do not, however, have great schools right now. So if you have school age children and can't or don't want to home school or private school, these may not be the areas for you.
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