Housing Prices at Record Low

    Although the United States Economy has been suffering for a few years, there are some benefits that have come from it. Housing prices have gone down since the beginning of the recession, meaning that it’s an excellent time to invest in real estate.

                “Prices have been in a decline for the past few years and have probably gone down about 20 percent over that time period,” said local Bellingham realtor Dean Haskins in an email interview. “Homes are at record low prices.”

                Haskins says that this is true all across the country. In the Alabama Hill Neighborhood, this is also true.

                “The Alabama Hill area house prices are still in a decline and have been so for the past few years,” Haskins said. “However, the neighborhood is popular and is one of the top two or three neighborhoods in the city, so prices have stayed a bit higher than many of the other neighborhoods.”

                Since August of 2010, the average price a home has sold for in the Alabama Hill neighborhood is $229,480.  The average price for houses that are currently on the market in Alabama Hill is $229,533.

                “Alabama is an established neighborhood with a lot of park and trail options for walkers, and also some of the best properties in the city,” said Haskins.

                Alabama Hill’s inhabitants agree with Haskins in that the park options make this neighborhood a great choice. John Lehni, an Alabama Hill resident, was a teacher at Roosevelt Elementary school, and moved into the neighborhood to be closer to his work.

                “I moved here because it was convenient for me,” Lehni said. “I could just walk down the trail that leads to the school for work. I love the neighborhood; there are lots of trails and great views that add value to the homes here.”

“I taught a lot of children who live in the homes around me. They have grown up, but their parents still live in the same houses,” Lehni said.

                Lehni says that he thinks because not many people are moving out, there isn’t room for people to move in.

                As of Tuesday, May 3, there were six houses actively on the market for the entire neighborhood.

                So does this low economy and low housing prices mean it is a good time to invest in real estate?

                “Absolutely,” Haskins said. “Not only are the home prices at record low prices, but interest rates are still historically low, just under 6 percent.”