There are new construction Homes for sale in Huntsville's Hampton Cove and in southeast Huntsville. An option might be to review subdivisions and builders then have a house built. We do urge caution in having a house with only two bedrooms. At some point the house will be resold and having just two bedrooms will make a resale very difficult. Even if the third bedroom were small or had a dual use such as an office the market value of the house will be much better.
The link below is to proposed construction Huntsville AL homes for sale in Hampton cove and southeast Huntsville. The properties are just the ones showing active.There are several area builders that would welcome the work in our current slow market.
NALMLSReports/ListitLib/show_report.aspx?ID=7112093996
I tried looking in The Ledges but the three active listings near your price limit are all two story without an elevator.
The link below is to MLS activity since 05.01.12. NALMLSReports/ListitLib/show_report.aspx?ID=7112094052
The average sold price was $103 per square foot with a range of $94 to $113 psf. The average days on market were high at 114 days and a range of 14 to 390 days. The average sold priced has dropped from the $106 per square foot in my email below.
There are seven active listings in the neighborhood averaging $114 psf with a range of $106 psf to $123 psf. The houses have been on market since 04/21/12, 04/23/12, 01/29/12, 03/24/12, 03/18/12, 08/11/12, 06/04/12 and 07/09/12 respectively.
Assuming standard transaction costs and $3,000 in seller paid closing costs, your breakeven point on a sale based on your purchase price would be in the $205,000 / $100 psf range.
Assuming a $185,000 loan payoff with a $205,000 sale, a $3,000 seller contribution and a $410 home warranty you would clear around $5,000.
No comments:
Post a Comment