Real estate markets can be affected by many factors and should be evaluated individually.

Some pros of purchasing real estate in Aliceville, Alabama could be:

1. Affordability: Aliceville is considered an affordable place to purchase real estate compared to other urban areas in the United States.

2. Quiet community: Aliceville is a small village, so it is ideal for people looking for a quieter lifestyle.

3. Investment opportunity: If you can purchase a property at a low price and rent it out for a higher price, it could be a good return on investment.

4. Scenic location: Aliceville is located in a rural area, surrounded by nature, which can be a pro for those who love the outdoors.

Some cons of purchasing real estate in Aliceville, Alabama could be:

1. Limited job opportunities: Aliceville is a small village, which means there may be limited job opportunities in the area. This can make it difficult for those who need to rely on local employment.

2. Limited amenities: Aliceville may not have all the amenities that people are used to in bigger cities such as shopping centers, restaurants, or entertainment venues.

3. Low growth potential: Aliceville has lower population and employment growth compared to larger cities. This means that there may be a limited potential for significant appreciation in property values.

4. Risk of natural disasters: The state of Alabama is prone to natural disasters such as hurricanes, floods, and tornadoes, which could potentially damage your property.

Keep in mind that these are general observations. Please make sure to conduct your own research and due diligence on the local market to make a fully informed decision.