Homes for sale in Huntsville; Still selling in a slow market

Homes for sale in Huntsville; While our market is still slow there are still people looking for homes for sale in Huntsville.
Tags: homes for sale in Huntsville, Huntsville Alabama homes for sale

While our market is still slow there are still people looking for homes for sale in Huntsville. There are newcomers moving to Huntsville for jobs and we are still selling houses.
In the past 13 months there was only one sale of a brick home in the Stavemill neighborhood. Please see the link below.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718778923
The property sold at $95 psf (per square foot) in just 34 days. The property seemed to be in good condition and would show well.
The link below is to active listings and sales of properties in the entire city of Madison that are similar in size, age and construction as your house. Having to look outside your immediate neighborhood is less accurate but will help us develop a market range.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718778924

The average sold price was $89 psf with a range of $43 to $102 psf. The average days on market were 69 days with a range of 8 to 297 days on market.
Using the one Stavemill neighborhood sale as a base point of $95 psf and the highest sale of $102 psf would establish a rough market range. Looking closer at the two $100+ psf sales;
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718778928
Both properties are in neighborhoods that are a little newer and have homes that are a bit more upscale that Stavemill Estates.Depending on how well your property shows, we could list in the $97 to $103 psf range. ($137,000 to $145,000) To sell in the higher range, we would need to really wow buyers.
http://www.huntsville-homes.com/PRESENTATION
While past performance doesn’t guarantee future trends, it is a good indication of how we can expect the neighborhood to appreciate long term. Unless you have a need to sell or are burned out on being a landlord, my counsel would be to continue to hold the property.
If you have children, you may consider gifting a portion of the property to them each year while staying within the IRS annual gift limits. Their tax basis on the property would be the market value of the property at the time of gifting. If the children are minors, you can have custodial control of the property. Since you gave the property away, you wouldnt have to pay the capital gains on profit ot recovery of depreciation. I’m not a tax advisor so get counsel before setting up gifting.

For additional information on Huntsville Alabama Homes for sale and how those moving to Huntsville might view the area and for availabe homes for sale go to http://www.huntsville-homes.com/Huntsville-houses-for-sale Newcomer information Huntsville AL real estate homes for sale Huntsville. Moving to Huntsville.Huntsville AL MLS homes for sale real estate. Search the Huntsville MLS and request automated real estate search.
Homes for sale in Huntsville; While our market is still slow there are still people looking for homes for sale in Huntsville.