PUCKETT PROPERTY PARTNERS
July 2023 Newsletter
MARKET SNAPSHOT: West Alabama
(Bibb, Fayette, Green, Hale, Perry, Pickens, Tuscaloosa, & Walker Counties)
491
Current Active Listings

309
Sold Listings*
$302,630
Average List Price*

$296,303
Average Sale Price*
49 Average Days to Sell*

*Indicates previous month's statistics
COMMENTS FROM THE EDITOR: Right now might seem like a frightening time to jump into real estate investing. But for value-seeking investors like myself, the scariest time to invest is actually in a good economy, when housing prices are rising at a blistering pace. This is because it is difficult to identify the top of a market, and nobody wants to buy at the top of the market just to watch the value of their
investments fall during a downturn. Here are FIVE reasons to invest now:

  1. Recessions create more opportunities to invest - 3 submarkets > Retail (market value), Motivated Sellers (financial or personal distress), Distressed Properties
  2. Economic reasons for a market shift - Look for areas with population growth, Cut back on second/vacation homes (decreased rentals)
  3. Don't wait for the bottom of the market, invest now - We can't time the market. Invest now and start appreciating your property values now.
  4. Real Estate is a hedge against inflation - When the dollar is worth less and assests are worth more, savvy investors know to reduce their cash savings by buying real estate assets as a hedge against inflation. Inflation rises, so do property values. For this reason, real estate income is one of the best ways to hedge an investment portfolio against inflation.
  5. Housing supply & demand - When demand from both buyers and renters outpaces supply of homes, home prices and rents will go up. According to the Census Bureau, population is going to increase significantly, putting pressure on demand for housing. New construction cannot keep up and homebuilders are hesitant to invest in new developments during insecure economic times. Other economic factors - slow planning and infrastructure processes, rising home construction materials and labor cost, declining profitability impact progress.

Of course, no one can see the future. But I believe that house values will likely remain strong and rents will continue to rise, despite an economic downturn. On the other hand, I also think we will see inventory increase due to some homeowners being forced to sell for personal and financial reasons. This will create a few great opportunities.

LESSON: The good deals will be absorbed quickly, and the U.S. will return to a highly competitive housing market.
Previous Contest Winner
Congratulations to Ashtyn Hunt! She won a Bogg Bag full of summer swag in our Summer Essentials Giveaway.
Connect with us on socials for
tips & giveaways!
What's Happening Around Town?
June 2-July 28 - Live at the Plaza
Sponsored by Coca-Cola and Avenue Pub + The Wine Market, meet up with your friends every Friday in June and July from 6–9 pm, on Government Plaza for free, live, and local music. Live at the Plaza is family (and pet!) friendly with a Kid Zone available for fun activities. Grab your crew, a picnic blanket, and some folding chairs, and we’ll see you there. For the full line-up of bands, visit tuscaloosa.com.

The Fourth of July Celebration on the River returns to the Tuscaloosa Amphitheater Tuesday, July 4 from 6-9:30 pm. This free, family-friendly event presented by the City of Tuscaloosa will include fireworks, kids' activities, live music by the Tuscaloosa Symphony Orchestra and more! Find more information at tuscaloosaamphitheater.com.

Theatre Tuscaloosa presents Sister Act at the Bama Theatre July 20-23. This feel-good musical comedy based on the hit film will have you jumping to your feet! There will be 5 shows, including Thursday-Saturday at 7:30 pm and Saturday-Sunday at 2 pm. Visit theatretusc.com for more information or to buy tickets.
Summer Home Checklist
Summer is a great time to do a little sprucing up. Be sure to use this checklist from familyhandyman.com to prep your home and garden for warm weather:
  1. Keep an eye on irrigation systems
  2. Install screen doors
  3. Update first-aid kits and emergency supplies
  4. Make space for summer crafts
  5. Organize and put away school papers and supplies
  6. Set up a drying station for swimsuits and beach towels
  7. Maintain fans and air conditioners
  8. Refresh your bathroom
  9. Schedule major outdoor projects
  10. Make your summer must-do list
Global Corner:
Eternal Spring in Colombia
Though it was once infamous for drugs and violence, thewanderinginvestor.com now boasts Medellin as Colombia's most popular city to live in and visit. It is a culturally-rich destination with hiking, ziplining, horseback riding, and even the chance to backpack through the jungle. In addition to the breathtaking surroundings and variety of dining and drinking options, the city is known for its "Eternal Spring" which requires virtually no heating or air conditioning year-round.

All of these factors make Medellin an incredibly popular tourist spot, particularly among digital nomads that can work remotely around the world.

Due to the weak Colombian economy, prices in Medellin are very reasonable, with substantial profit possible from short-term vacation rentals.

If you are interested in investing in Colombia, or elsewhere, I can help you find a real estate agent who is the expert in that area!
THIS MONTH'S RECIPE
Watermelon, Tomato, and Feta Salad
This summery side from countryliving.com is perfect for your Fourth of July picnic! It is sure to be light and refreshing on a hot day. To ensure freshness, pack the dressing and salad separately and drizzle before serving!
Ingredients:
  • 1 baby watermelon (about 3 lb.)
  • 1/2 c. fresh mint
  • 1/4 c. red onion, thinly sliced 
  • 12 oz. cherry or grape tomatoes, halved
  • 2 tbsp. olive oil
  • 2 tbsp. fresh lime juice
  • 1 tsp. pure honey
  • Kosher salt and black pepper
  • Crumbled feta
Remove the rind from watermelon and cut flesh into 1 1/2-inch-thick triangles; arrange on a platter.

Top with fresh mint, red onion, cherry or grape tomatoes.

Combine olive oil, fresh lime juice, pure honey, and kosher salt and black pepper in a bowl. Spoon over watermelon. Top with crumbled feta.
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Debbie Puckett
205.657.8563