homes for sale in huntsville al

Homes for sale in Huntsville Alabama; The tax assessment may or may not be an accurate reflection of the home's value.
March 11th, 2012 12:15 PM


The tax assessment may or may not be an accurate reflection of the home's value. The true gauge is to look at recent sales of comparable homes. The link below is to where the house sold at $88,500 or $44 psf (per square foot). The listing indicates the house is 2,000 sf. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719586802
The link below is to the tax assessors information on the house. They think the house has 1,450 sf, an obvious error. As a side note, they still show you as living in the house and you are still getting the benefit of the homestead exemption lower tax rate. http://www.emapsplus.com/ALMadison/report.asp?County=ALMadison&PID=1406144004055000&MapImage=/Maps/pm_EMAPSMAP04_5337_46153.gif The link below is to the GOOGLE fly through of the neighborhood. http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=3617+INGLEWOOD+DRIVE,+HUNTSVILLE,+AL+35810&sll=34.77449,-86.595118&sspn=0.007649,0.020728&ie=UTF8&ll=34.776059,-86.595182&spn=0.007649,0.020728&z=16&iwloc=A&layer=c&cbll=34.77462,-86.595414&panoid=BucO71J3mhM_SRK2l_wZkw&cbp=12,202.3280073117129,,0,5

Huntsville Houses We can assist you in finding area Huntsville houses that will meet your needs and price range.You can search the entire Huntsville MLS for houses on your own without having to register. The link below is to MLS activity in the neighborhood in the past six months. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719586819 The data is not encouraging. There are 17 active listings with an average list price of $53 psf and a range of $26 to $67 psf. There were 18 sales at an average of $36 psf and a range of $10 to $49 psf. The average days on market were high at 118 days. Even in ready to market condition the house would probably sell somewhere between the average and highest sold prices of $36 psf and $49 psf ($72,000 to $98,000). With brokers fees and closing costs, your net proceeds on a sale would not be that attractive. The schools that serve the neighborhood have been in decline the past few years. That decline has really hurt property values. If the tenant cant buy, you may want to continue to hold the property. Huntsville's economy and real estate market are still in overall strong condition and hopefully the neighborhood will start to appreciate again. I think the property is assessed too high by the tax assessors office but if you asked for a reevaluation you would probably be assessed at the non-homestead rate, effectively doubling your annual taxes. They also have the square feet too low. It's probably best to remain silent for now.
The link below is to recent MLS activity in your neighborhood of properties similar in age to yours.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719568802

The average sold price was $105 psf (per square foot) with a range of $104.92 to $105.95 psf. The average days on market were 29 days with a range of 2 to 77 days.

There are two active listings; a foreclosure listed at $99.24 psf and another home listed at $102.23 psf. The second home has been on market since 1/4/09 and has had one price reduction.

In general we recommend listing property in a range between the average sold price ($105 psf) and just above the highest sold price ($105.95) psf while staying within the range of active, competing listings ($102.23).

That the one active listing is priced below the average sold price may be an indication that demand for homes in your neighborhood is soft or that the seller of this house is very motivated to sell.

At $105 psf your 2,115 sf house would be $222,000. At the $102.23 list price of the comparable active listing it would be $216,000.

Overall Huntsville has faired better than most of the country but we currently have an oversupply of homes in certain market segments. The worst oversupply is in homes in more upscale homes especially those located outside of the city. There are 406 available properties in the $200,000 to $250,000 range in the greater Huntsville area. In the Grissom School district there are 38 active listings. Most of those homes are however much older than yours.

Depending on how well your house shows to prospective buyers and how urgent your need to sell, I would recommend listing the house in the $225,000 to $215,000 range. You could gauge our price position by showing activity. We should expect to see 2 - 5 showing per week over a several week period. If showing activity is substantially less, the price is probably set too high for market conditions.

Homes for sale in Huntsville AL You might find it hard to use Huntsville's public acess MLS, especially if you dont know where to get started. Just let us know what you are looking for at Automated Property Searches and we can help.
The property you asked about at the link below is still available. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719569443 The property has been on market since 2/18/09 and has had one price reduction. The link below is to recent MLS activity of similar properties in the neighborhood. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719569462 The subject property is listed at $97 psf (per square foot). The two sales were at $87 and $88 psf. There is one pending sale that was listed at $101 psf but we wont know the sales price until after closing. That property was on market 85 days before going under contract. The current owner bought the house 3/28/09 for $169,900 with seller paying $4,000 in closing costs. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719569500 My take is that the owner needs to sell and has priced the house at something near his breakeven price point. I think that the house is probably listed a little above what the market will bear. Seller may be willing to negotiate the price to nearer the comparable sales level but one never knows until negotiations start. The link below is to properties in Madison that are priced near or less than the subject property that may be prospects for you. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719569510
Huntsville Houses We can assist you in finding area Huntsville houses that will meet your needs and price range.You can search the entire Huntsville MLS for houses on your own without having to register.
The HOA was paid 3/30/09. On ALABAMA HERITAGE HOMES, INC. being foreclosed on; a quick online search did not turn up any legal notices but that doesn't mean they aren't facing foreclosure on some of their inventory. There is a surplus of inventory in this market segment and several builders have lost properties and a few have closed shop. Fundamentally the Huntsville real estate market is sound but area builders got way ahead of the supply / demand curve. As BRAC positions start to be filled in earnest, the supply / demand imbalance will start to correct. We are seeing signs of increased sales already. Huntsville area sales were up 20% in March over February. If you are considering another purchase, we are in a unique period of a decidedly buyer's market. The link below is to a summary of MLS activity in Hampton Ridge in the past 12 months. There are a whopping 16 available properties There were 29 sales but the average days on market were very high at 126 days. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719586759 Another builder that is struggling is HPH builders. http://www.hphproperties.com/huntsville_communitymap.html Two neighborhoods where they have properties that have big upside potential are Lake Forest and The Reserve. Both subdivisions are just west of the arsenal. This is an extremely fast growing area that will be attractive to BRAC immigrants. The two negatives with this area are the just average K - 8 school and the roads. The City is receiving funds from the federal government and is building a new Williams school and plans are in place to upgrade the roads. There is a shopping center planned at the corner Zeirdt Road and Martin Road and there may be a shopping mall at Madison Boulevard / Highway 20 / I 565 and Zeirdt road. The link below is to listings in those neighborhoods. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719586778 http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719586782