[Bravo35223]

KMK:

Apparently you are quite unfamiliar with Alabama outside of your area. NW Alabama has lagges the state substantially in employment and economic growth...which in the state as a whole is extremely healthy.

Article from yesterday's Birmingham News:

Alabama's jobless rate fell to a record low of 3.1 percent in October, state labor figures released Friday show.
The number of Alabamians listed as unemployed also declined to a record low 68,457, beating the record of 72,431 set in April. The October rate is a significant slide from the 3.6 percent rate a year ago and September's 3.7 percent.
Meanwhile, metro Birmingham's unemployment rate dropped to 2.7 percent in October, the second lowest ever behind 2.4 percent set in April. The metro figure is down from 3.3 percent in September and 3 percent a year ago.

If you have ever taken economics, an unemployment rate that is in the 2.5% range is considered by many economists as essentially being about zero, because many people included in the statistics are essentially unemployable...

Site Selection Magazine recently rated Alabama as #5 in the nation in terms of desirability for the location of a business.

I am very sorry that the Quad Cities of NW Alabama has struggled socially and economically - but it has. I went there with my wife a year ago to stay at the Marriott (which as superb) and play at the RTJ golf course - which was also excellent. But frankly, we couldn't find anywhere to eat outside of a chain that was decent. This is certainly not the case in Alabama's urban areas...spend some time on websites RE; Birmingham, Huntsville and Mobile and you will find plenty of sophistication....its just not where you live...sorry.

On the other hand, as evidenced by the statistics above, the Birmingham metro economy is vibrant and growing....the same in Huntsville/Decatur and now Mobile is beginning to boom, with the new steel plant and steady growth at the State Docks, making it the 8th largest interntional seaport in the U.S. - projected to grow to #5 in the next five years....

A

[NicoleC]

Originally Posted by Bravo35223

Now I am going to say something here that (I very sincerely hope) doesn't hurt anyone's feelings...It's almost as if I am asking a question I have wanted to ask here....

Why don't people who are relocated here from California have a lot more home equity to invest in their new homes?

I honestly thought a lot of people moving here from California would have $400-$500k or more that they HAD to put into their new home.

Because although home values are high in California, chances are the people moving have also bought into the market at a high rate. Additionally, many of those mortgages are 40-year or other burdensome mortgages to begin with that minimize actual equity gains, and many people are saddled with credit card and other debt from trying to afford a home they really can't. Plus many of the homes in the low end of the range ($500-$800k) are older and need ongoing and expensive maintenance and upgrades to be saleable, reducing potential profit margins. Finally, real estate fees when selling are MUCH higher in California, and the lower the price the bigger percentage of the sale price it can be.

Even someone who sells a $600k California house is very unlikely to have $400-500k in profit unless they are an older couple who have been in it a long time or they inherited it. For me, the sale of my condo at $335k minus real estate fees minus relocation expenses put me in a very strong and comfortable position to buy here, but I sure didn't walk away with $200k in profit!

Many of the people doing the California Cash-Out use the opportunity to pay off debt, put money away for their kid's education, make lifestyle changes like becoming a one-income household, and/or other needs. NOT move to Alabama so they can load themselves up with more debt. It's one thing to have a hefty mortgage because you have to -- and another to buy an expensive house for the sake of owning an expensive house.

For me, my CA Cash-Out left me in a strong and comfortable buying position, but selling a $335k condo sure didn't leave me with $400-500k in profit! Instead, I sold a pretty nice condo I had sunk a lot of money into and had owned for 3 years -- then turned around and bought a nice newer home almost 3x the size, on acreage, for about the same price for the condo when I bought it, went to a 15 year note with 50% down and *reduced* my monthly mortgage. Yee haw. Sure, I'm selling it now, but the new home I buy will be in the same price range.

[Bravo35223]

Thanks for your explanation....I understand why you did what you did...

b

[mp33]

NicoleC is right ... and many people are "house broke" in California. All their extra money goes to paying high mortgages, and if they're smart, they won't make that mistake again. Geesh, I can just barely handle Alabama all on it's own ... to be poor AND live here would be too much! If a person is going to be house broke, do it in out west!

[rnc76]

Perhaps this goes without saying, but... I would also assume a good portion of the Californians moving here were priced out of the market, were renters in CA, and moved here so they could afford a home.

[NicoleC]

Dunno, RNC, maybe. The folks on here all seem to have been homeowners in CA that moved mostly for other reasons, but I do know one gent that moved to Nowheresville, TX several years ago because he could buy a house there for about $25k and wanted to own a home really bad. It was that important to him, and other than making plans to move into town now that he is on track for a good paying federal job, he's happy with the choice he made.

[rnc76]

I guess it may depend on the age of the people. I know two different couples in their late 20s/early 30s that never bought a home out in CA and moved to Huntsville partially because of the ability to buy a home.

[Threestep2]

Originally Posted by KMK

I live in the Muscle Shoals area. And most native M.S. folks share the same feelings as the homesick mom from Calif. Folks are nice enough when you bump into them on the street but relationships seem to lack any real depth. There are a ton, a ton of very lonely folks around here and neighborhoods full of single moms raising kids. Our youth leave in groves. This is not a very youth friendly environment and add to it the fact there are no jobs, no econmic growth of any kind, the schools are marginal at best, etc...It is just a tough place to live. And sadly while meals on wheels is a very nice community project, it would be nice to have other academic, art, or recreational clubs, classes, etc. available. And yes I believe in the B`ham and perhaps in the Huntsville area an academic population does exist. But leaving a state like Calif with endless resources and moving to an state that has developed very few has to be a challenge. Hats off to the lady from Calif. You do what you have to for your kids!! I do believe it is possible for Alabama to be someones Utopia. I just believe it is all relative. Where did you live prior to your move? I have lived in many different areas of our country. I have truely loved everywhere I have lived. This state has been the least desirable. For lack of a better description it just seems to be so STUCK, no positive growth of any kind for years. The recent trend in this area is to develop a retirement community. Yet this area is not used to transplants and they frown on folks that seem to be invading their home with new fresh and progressive ideas.

I may get a written "talking to" by Keeper but it has to come out.

a) You have lived in Muscle Shoals for about 20 years if I read your peivious post right and still dislike it. Why not take your own advice?

b) You seem to know absolutely nothing about the Birmingham area. Unfortunately? Maybe. You may want to do some homework.

c) You do not like your town but have us not told about what you have done to change that. 20 years of crying over spilt milk?

d) If you ever lived in CA - when and where?

Threestep, soon to be Fourstep

[Threestep2]

MP33 - get the hip SoCal Gal out of storage!!! What flavor lip gloss is in this week?

Dolphins by the pier - how about deer in your backyard? I can throw in small critter and assorted others and that on 280.
Full time job - not with your crew but something that gets you out of the volunteer-soccer-mom trott. Victoria's Secrets Christmas help wanted.
Family - well, mine is an interesting mess to say the least. What comes first - your gang or your tribe?
Alabama - give me a break! What is wrong with people being proud and showing off their state, their heritage (this week NOT their football team). You squeak CA at every opportunity, do you not?

[Socal2Bham]

mp33, I think you've seen and done more things in the 3 months that you've been here than I have in the 2 years I've been here. I need someone to be a tourist with!

Moving here cold (not knowing anyone in the area first) seems to have had some advantages for you because you get to explore all the new stuff.

I moved here and in fell into an already established group of locals who have all "been there done that" so I never get to see or do the touristy stuff.

Anytime you want to go check something out call me!

Things I have yet to see/do:

Workplay
Sloss Furnace
Botanical Gardens
Zoo
IMAX theater

If you're interested we can sign up for a clay & cocktails class at my friend's art gallery in Avondale Welcome
A friend of mind also does a sips n' strokes class every week. She keeps trying to drag me to it. I haven't gone with her yet because I'm terrified of attempting to paint, but I'll get over it if you want to go sometime. https://www.sipsnstrokes.com/home.aspx
Do you like wine? Let's go wine tasting! I hear there are even wineries around here somewhere. Here's one OZAN ALABAMA WINERY - Ozan Vineyard and Winery in Calera, Alabama Winery Trail
If you haven't been we could see something at the alabama theater Alabama Theatre > Home You should think about taking your kids there to see the holiday movies.

Lots to do!