homes for sale in Huntsville AL; Huntsville AL MLS listings
June 10th, 2013 4:45 PM
While Zillow is prone to have bad data in this case it was correct. The MLS is showing the house has been on the matrket since 11/02/12. It was also listed for sale from 10/02/08 - 02/13/09 at $133,000- $130,000 without selling.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7117577306
Selling homes isn't rocket science, quantum physics or magic. It's simply pricing it correctly, having in in good showing condition and putting it in front of enough prospective buyers. The photos of the house look good and over 95% of all sales are a result of the MLS so marketing is probably not the problem. That leaves price.
The link below si to a summary of MLS activity in the neighborhood in the past year. There was one sale at $65 per square foot and one at $78 per square foot. The average days on market was 48 days with a range of 34 to 61 days. The withdrawn listing was on the market 62 days at $92 per square foot.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7117577322
The subject is listed at $90 per square foot with one price reduction last November from $122,500.
The data is confirming that the house is priced too high for the the market. 133 OLDWOOD ROAD is the best comparision of the two neighborhood sales. It sold at $78 per square foot with seller paying $2,500 of purchaser closign costs. At 1,325 square foot and $78 per square foot the subject house would be $103,000. It's listed at $120,000 about 14% over what I think the market value is.
For comparison the link below is to breif listings of the 30 active listings in the area in the $100,000 - $120,000 range.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7117577511
The current owner bought the house in 2004 for $93,900 with their seller paying $3,300 of their closing costs.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7117577310
Sellers break even point on a sale will be in the $104,000 range so unless they have remortgaged the house they have the wherewithal to lower their sale price.
As best I can tell in the Madison County Probate records the owners did refinance at $90,000 in 2009.
http://probate.co.madison.al.us/LoadImage.aspx?sk=20090402000213900&format=PDF&ref=541e9c57-764b-4df2-a980-8ba311fdefc6
Here is the satelitte image. https://maps.google.com/maps/ms?msid=206552689336433718745.0004dd57cd2d4511df37a&msa=0&ll=34.77551,-86.514504&spn=0.001723,0.002642
So here's what we know. The house looks to be occupied still. It's priced too high but the seller should be able to sell for les IF he chooses to. Over pricing might come from the seller or it might be from the agent. I know the listing agent Blake Cantrell. He is a good guy but is a newer agent. He might have priced too high but my guess is the owner set the price.
Philip
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