Homes for sale in huntsville; selling an a difficult market

Homes for sale in huntsville; Selling in a difficult market

You should have already seen this data before but the link below is to a summary of MLS activity in the neighborhood since 07/10/10. There were two sales at $76 and $83 per square foot for an average of $79 psf. The average days on market for the sales were modest at 56 days.


http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114602542145


There was one listing that expired after 184 days on market. It was listed at $86 psf. There was one listing (your house) that was withdrawn after just 16 days on market. It was listed at $90 psf.

At the current $90 psf list price you are listed well above the highest sale in the neighborhood.

So we don’t base our opinion on just the limited data in your neighborhood the link below is to a summary of MLS activity since 07/01/10 of homes in East Limestone that are similar in age, size and construction as yours. There were nine sales averaging $76 psf with a highest sale at $83 psf. There are a whopping twelve active listings averaging $88 psf.


http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114602351224


The link below is to a summary of all 167 active listings in the greater Huntsville area including Athens. While some of the houses were older and not in the greatest areas, there are some new construction homes in good areas.

Homes For Sale In Huntsville Alabama – Search the huntsville al mls for homes for sale in huntsville al at www. Homesforsalehuntsville. Net. No registration required. Request automated real estate search. Get the market value of your property. Rental homes and property management service.


http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=711460122541

The best way to trouble shoot a listing is on activity. How often is the house shown to prospective buyers? We should consistently see 2 – 3 showings per week. If showings are substantially and consistently lower then either price or marketing are the fault.

There are a couple of local realtor who have to advertise heavily to get business. They claim their “marketing system” is far better than that of any other realtor. They cite skewed data and a long list of marketing venues. Setting aside all the hype, over 95% of all real estate transactions are a result of one realtor or buyer seeing a listing on MLS that was posted by another realtor. If a property is posted on MLS and properly priced it will get showings and a sale will follow. The MLS is so accessible to the public almost every other form of marketing is just marginally effective and a lot of fluff. homes for sale in huntsville

The link below is my attempt to illustrate how to troubleshoot a listing. Pan down past the two testimonials.


http://www.huntsville-homes.com/LookingtoSell


The MLS archive shows you bought the house in 2002 at $109,900 / $70 psf with your seller paying $5,753 of your closing costs. Your breakeven point on a sale assuming standard transaction costs, $3,000 in seller contributions to purchaser closing costs and a $480 home warranty for purchaser would be in the $121,000 range. About 93% of any sale over that amount would be profit.

Unless you have a second mortgage or refinanced and pulled equity from the house, it looks like you have some negotiation room between the break even point and your list price. Everyone’s situation is different and it may be that you need to sell at near the list price.

You may consider offering the house for sale as a lease purchase. to set your house apart form the other 167 listings that are competing for the same buyer. There is an element of risk, the tenant/ buyer must be carefully screened and the legal documents must be precisely done to protect the seller. It is a great marketing tool however. I’ve sold house that have been on the market for over a year in neighborhoods that weren’t selling by marketing them as a lease purchase.

If your situation allows, you may want to wait until the market improves after the 2012 elections. If you need to move now but can’t afford to keep the house empty you may consider renting it for a year or two. Based on experience and the comparable rental homes below, the house would rent in the $1,000 to $1,095 range.


http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=71141254214


We manage almost 400 homes and have 4 realtors, two managers, three office staff and a shared receptionist. If you need help or advice in renting your home, we will be happy to assist. I have a number of clients that self manage their rentals. I help them by marketing their properties online, helping them to screen tenants and by giving them examples of the documents we use. The link below is to a summary of what we do in our property management division.

http://www.huntsville-homes.com/PropertyManagement

I’m sorry you are having trouble in this difficult market but hope that this information helps. Please let me know if there is anything that we can do for you.

I did have a question; Of all the realtors listed in the MLS how did you come to contact us?


This work is not a solicitation for business but only an answer to your inquiry.

Homes For Sale In Huntsville Alabama – Search the huntsville al mls for homes for sale in huntsville al at www. Homesforsalehuntsville. Net. No registration required. Request automated real estate search. Get the market value of your property. Rental homes and property management service.