Huntsville AL MLS

The link below is to the Huntsville MLS listing where the current owner bought the property in 2000 for $142,250.
July 28th, 2012 10:30 AM


109 NORTH STAR DRIVE at the link below has been on the market this time since 03/03/12. It was listed for $190,000 from 11/23/10 to 07/18/11. It was listed for $197,000 from 05/06/10 to 08/17/10. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7115570861 The MLS doesn't show where the current owner bought the house but the link below is to a $181,000 mortgage on the property from 2006. http://probate.co.madison.al.us/LoadImage.aspx?sk=20061010000689040&format=PDF&ref=a6b13354-a3dc-4a51-bcf8-849db3d21e66 It looks looks they did a refinance at $184,000 in 2009. http://probate.co.madison.al.us/LoadImage.aspx?sk=20061010000689040&format=PDF&ref=a6b13354-a3dc-4a51-bcf8-849db3d21e66 Assuming the loan balance is in the $180,000 range the seller would need to sell in the $195,000 range unless he can bring money to closing. At a list price of $189,000, he is probably having to bring money to closing and may not have much room to negotiate. The link below is to a summary of MLS activity in the neighborhood since 03/01/11. There are six active listings and six sold homes. The average sold price was $83 per square foot with a range of $67 (Bank owned) to $95 per square foot. At $189,000 / $87 per square foot the house is priced within the market range. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7115570873 The house is near but not in the Flint River flood plain. 4894 James St has been on the market since 09/29/11 at $211,900 / $80 per square foot. The link below is to the listing where the current owner bought the house in 2009 at $175,000. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7115580950 I found just one mortgage at $179,000 on the house. http://probate.co.madison.al.us/LoadImage.aspx?sk=20090226000124210&format=PDF&ref=8f5241ee-f47c-4a23-b410-76feaa1f86a9 The seller would need to sell at around $194,000 to break even on a sale so if he is willing to, he has room to negotiate. I couldn't find any comparable recent sales in the neighborhood so we would need to look outside the neighborhood to try and establish market value. The house is not in a flood zone. The link below is to a satellite image of the house. http://maps.google.com/maps?q=4894+JAMES+STREET,+HUNTSVILLE,+AL+35811&hl=en&ll=34.826449,-86.509448&spn=0.001398,0.002637&sll=37.0625,-95.677068&sspn=31.28862,86.396484&t=h&hnear=4894+James+St,+Huntsville,+Alabama+35811&z=19 25585 Putman Circle at the link below has bee on the market since 07/05/11. It was originally listed at $239,900. The price was lowered to the current $222,800 / $78 per square foot on 03/16/12. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7115575960 The link below is to the Huntsville MLS listing where the current owner bought the property in 2000 for $142,250. I cant see any changes in the property from 2000 until now. Even at a very generous 3% annual increase in value the property would only be worth around $193,000. It will be nearly impossible to find similar sales in the area to estimate market value but it took 165 days for the house to sell in 2000 so we can assume $142,250 was a fair market value then The home is not near a flood zone. The link below is to the Google satellite image of the property. To the northeast there are some mobile homes and behind the two mobile homes it looks like a barn with junk cars around it. To the east at the end of the rod there is a large junk yard. http://maps.google.com/maps?q=25585+PUTMAN+CIRCLE,+35620&hl=en&ll=34.928366,-86.876997&spn=0.00395,0.010546&sll=37.0625,-95.677068&sspn=31.28862,86.396484&t=h&hnear=25585+Putman+Cir,+Elkmont,+Alabama+35620&z=17 The links below are to data on the schools that serve the house. http://www.schooldigger.com/go/AL/schools/0210002081/school.aspx http://www.schooldigger.com/go/AL/schools/0210000797/school.aspx This house does concern me. It is so far from the city it's going to be hard to re-sale when you eventually need to sell and I think it is priced way too high. The link below is to some other house in Northeast Madiosn County you may want to review. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7115581006





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