September 20th, 2013 9:45 PM
264 CARTERS GIN ROAD is the house we talked about that is in the very bad school district. Even if you don't have kids, the bad schools will make it hard to ever resale. We can show it to you if you want. Just let us know when.
Did you get the address on the house in Madison you asked about?
The link below is to homes that have media rooms. Please let us know if we can research, show or preview / photograph any for you.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7118101793
Thank you for letting us help in your Huntsville AL Homes search. Our first impression of 109 Ivyridge was that it was priced well above the market range as compared to other homes that had recently sold in the neighborhood. After visiting the house we think that it may be worth more than The recent sales. The house has features and upgrades not in the other homes. Please review the extensive virtual tour at the link below to get a better idea of what the house is like. We are sorry it took a couple of days to get this to you but it takes a long time to edit the photos and stitch them together for the panoramic views.
http://www.visualtour.com/show.asp?t=3164645&prt=10003
The following is a link to the satellite image of 264 CARTERS GIN ROAD. Drag the man icon on top of the zoom bar to the street in front of the house to see a street view of the house and neighborhood during construction.
https://maps.google.com/maps?q=264+CARTERS+GIN+ROAD,+TONEY,+AL+35773&hl=en&ll=34.829257,-86.650044&spn=0.001722,0.002642&sll=34.808958,-86.630792&sspn=0.311768,0.676346&t=h&gl=US&hnear=264+Carters+Gin+Rd,+Toney,+Alabama+35773&z=19
We knew there is a flood zone in the general area so checked the flood maps. The maps show the house is not near a flood zone.
The house has been on the market since 09/04/12.
The owner tried to sell in 2010 to 2011 for 346 days without success. He also tried to rent it for 246 days without success.
The following link is to the old listing where the current owner bought the house in 2006 for $450.000. The house was on the market for 832 days before going under contract.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7118096053
The following is the Huntsville MLS listing history of the house showing every tile it has been on the market. Even though this is a larger house it seems to be very hard to sell or rent. We need to look closer to understand why.
The following links are to information on the schools that serve the house. Even though schools may not be important to you they will be an issue at an eventual resale. Pay attention to both the school rankings and the percentage of kids that qualify for free or reduce lunches. When the free lunch percentage approaches or exceeds 50% we have concerns about the neighborhood.
http://www.schooldigger.com/go/AL/schools/0180000644/school.aspx
http://www.schooldigger.com/go/AL/schools/0180001528/school.aspx
http://www.schooldigger.com/go/AL/schools/0180001528/school.aspx
While the elementary and middle school are showing a little improvement the high school is on a downward spiral. All three schools have a very high percentage of kids that qualify for free lunches. This tells us most the neighborhoods that the schools serve are very poor.
The mailing address of the house is Toney AL but the house is located in the Huntsville City Limits.
If you still are interested in this house we will be happy to preview and photograph it as we did with 109 IVYRIDGE ROAD. While the house is very attractive, has some land and the pool it's location concerns us.
If you could please let us know what you are looking for in a house we will see what we can find for you. Is the Ivyridge house a candidate if we can work through the price issue? We have let the seller know it seems to be priced too high and have asked him to point out the improvements his house has that the neighboring houses don't.
The link below is to another house that is not on the market but where the owner will sell. We thought you may want to have a look at it as well.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7118043156
109 IVYRIDGE ROAD has been on the market since 08/23/12 (382 days) with no price changes. Tax records show the house was built in 2005 and GREYSTONE CUSTOM HOMES INC was the builder.
The current owners took out a purchase loan of $462,400 in May 2006, From the recording fees we know they paid $51,000 down for a total investment of $513,400. Assuming normal costs their break even point is in the $546,000 range.
http://probate.co.madison.al.us/LoadImage.aspx?sk=20060502000287210&format=PDF&ref=4e1afef7-3c48-4ee1-9ea9-676655b6707f
They refinanced in January 2009 at $417,000.
http://probate.co.madison.al.us/LoadImage.aspx?sk=20090122000039130&format=PDF&ref=4e1afef7-3c48-4ee1-9ea9-676655b6707f
If seller is willing to negotiate they certainly have room to do so.
The house is listed at $158 per square foot. The following is a summary of MLS activity in the neighborhood in the past year. There were two sales at $89 and $104 per square foot. The $89 per square foot sale was a foreclosure. The $104 per square foot sale was on the market for just 74 days. The short days on market makes us think it could have sold for a little more.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7118042922
In order of listing the three active listings have been on market since 05/23/13, 06/03/12 and 08/23/12.
The link below is to the full listing. They are listed at $619,900.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7118042929
We never know how a seller will react to an offer but my thinking is that on a cash offer something in the $550,000 / $140 per square foot range with no seller paid costs would be a reasonable offer.
The link below is to the satellite image of the house.
https://maps.google.com/maps?q=109+IVYRIDGE+ROAD,+MADISON,+AL&hl=en&ll=34.825323,-86.73078&spn=0.000861,0.001321&sll=32.576226,-86.680736&sspn=5.118447,10.821533&t=h&hnear=109+Ivyridge+Rd,+Madison,+Alabama+35757&z=20
While we don't know fully what you are looking for in a house the properties at the link below might be worth a look.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7118042944
The house at the link below is not on the market but the owner will consider selling. We are not certain what seller will need to sell for but will ask. The photos don't do the house justice. We were showing the owner what we could do for her in terms of marketing photos and did a quick partial virtual tour when we inspected the house last week.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7118042953
Virtual tour.
https://www.youtube.com/watch?v=Ia02LCi4Cq4
Please let us know if this house is a candidate for you and we will gather more information for you.
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