It depends on the potential worth of the home. You need to make a plan for what your potential net profit will be after you take commission, taxes, closing costs (buying and selling) and renovation costs out all while selling at a realistic sales price (allowing for market shifts). If you can see a potential profit there, then of course it is a good time! The Hollywood market is very stable right now and home are still selling very well.
If you need an agent to figure potential sales data for you, please call or email me.
Hi Michelle, the three areas you are considering are great! I have owned homes in all three areas.
You may also consider homes in Shelby county...like Inverness or Indian Springs. Many of these homes are in the Oak Mountain School district. You can see more online about them here... http://www.shelbyed.k12.al.us/schools/omhs/index.html.
Gardendale may also be a consideration for you. Corridor X is nearing completion and should give Gardendale a boost in growth. (http://en.wikipedia.org/wiki/Corridor_X-1) Gardendale is north of Birmingham. Here is Gardendale's high school webpage... http://gardendalehigh.jefcoed.com/Pages/Default.aspx.
I'll be happy to set up an automated search for you to alert you to homes in these areas based on your specific criteria.
Kia, can you get a co-signer, pay a larger security deposit? If none of these are options you will need to write a personal letter to the prospective landlord and explain your situation in entirety. Although there are a lot of landlords who will not accept you, there are others willing to look at the situation as case by case. There also should be apartment complexes willing to work with you as well.
In the last 2 years I have placed 6 or so people in rentals that are in your current situation. You just have to find one that isn't all about dollars Kia.
Best of luck to you,