homes of huntsville; huntsville al mls market comparables

Homes of Huntsville; Huntsville AL MLS market comparables (Homes of Huntsville; Market value comparables
September 8th, 2012 11:59 AM

There was not a listing of the house.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7111536261

The link below is to Huntsville AL MLS activity in the neighborhood since 06/01/09.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7111536306

There are 14 active listings and 3 contingent sales. There were 14 sales at an average $96 per square foot with a range of $85 to $102 psf. The average days on market were moderate at 70 days and a range of 10 to 205 days.

While the large number of active listings is a concern, the numbers certainly look better.

The active listings and comparable sales of homes of Huntsville are owner occupied. They will be easy to show and the owner-occupants and builders are motivated to make the homes as attractive as possible. Keeping them staged, clutter to a minimum and spotlessly clean. With a tenant occupied house, the tenant may not be motivated to keep the property in pristine showing condition and in some cases doesn't want to move. Also, Alabama state law requires the tenant's permission to enter a rented home except in the case of emergency. If the tenant doesn't give permission to enter the property the landlord must post a two-day notice on the home's door, giving the date and time that the landlord or prospective buyer will be at the property. It has been my experience that buyer's and buyer's agents rarely schedule showings two days in advance. Properties on the market must be readily available for showings on short notice. I have even had tenants refuse entry into the property after I posted the two-day notice and was standing at the front door with buyers at my back. According to our attorney, we had no recourse.

While I don't have the number of active investor clients as three years ago, I do know of a couple of investors who might consider purchasing with a tenant in place.

The house might need some freshening up prior to going on market. Landscaping, interior paint, carpet cleaning and possibly replacement are all standard items to consider when putting any homes of Huntsville on the market.


The link below is to the other homes listed for for $184,900 / $96 psf.


http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7111536323

The link below is to Huntsville AL MLS activity in the neighborhood since 06/01/09.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7111536329

The sold data doesn't look as good as Fawn Forest with an average sold price of $71 psf but with a wider range of $49 to $95 psf. The pending average looks better at $94 psf but a range of $87 to $99 psf. Keep in mind that these were the list prices, we wont know the contract price until after closing. Looking at the prices on the active listings is not encouraging.