Huntsville’s economy and real estate market are recovering from the economic downturn. Barring any further budget cuts to defense and NASA we look towards continued recovery | Homes for sale in Huntsville AL

| Homes for sale in Huntsville AL 

Huntsville’s economy and real estate market are recovering from the economic downturn. Barring any further budget cuts to defense and NASA we look towards continued recovery

The link below is to a summary of MLS activity of comparable homes in the neighborhood in the past year. The average sold price was $86 per square foot with a range of $71 to $97 per square foot. The average days on market were a little long at 116 days and a very wide range of 7 to 546 days. The one active listing at $88 per square foot has been on the market since 08/16/12 and started out at $173,000. The one contingent sale listed at $86 per square foot was on the market just 19 days before going under contract.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7117455025

Huntsville’s economy and real estate market are recovering from the economic downturn. Barring any further budget cuts to defense and NASA we look towards continued recovery. While rental rates vary seasonally we are seeing a strong demand and rents are creeping up at what seems a faster pace than home prices. There is active residential, commercial and municipal construction again. Because of the impasse in federal government we haven’t heard recent discussion on another base realignment and closure, BRAC. About two years ago there was some press on another BRAC where Huntsville would have a substantial gain in jobs. We recently gained a Boeing facility and a missile production facility.  The FBI is moving resources to the area and there is a new Ordinance Disposal (EOD) training / forensic facility.

https://www.youtube.com/watch?v=OF5EwC8M_qw

http://www.raytheon.com/newsroom/technology/rms12_huntsville_rc/

http://www.marineeod.com/redstone-arsenal-a-growing-center-for-explosives.html

http://whnt.com/2013/05/14/fbi-to-shift-national-security-resources-to-huntsville/

Most of our single family investor clients focus on appreciation rater than cash flow. Long term and excepting the past few years area homes appreciated at 3% to as much as 12%. Our multifamily investors can more readily cash flow but there are very few decent reasonably priced multifamily properties. Good management is critical and because of the poor return on our investment of resources we no longer accept new multifamily properties. Our best option will be to search for undervalued homes in good areas where we can find stable tenants.  As with our initial search in 2008 we should focus in Madison, South Huntsville and close in northeast Madison County. We may also consider portions of east Limestone County that aren’t too far from the city. We need to filter for schools and reasonable commutes to major employment centers.

Finding undervalued homes is a time consuming process and will have false starts. Starting with a search for foreclosures we found a couple of candidate properties.

2807 WILLOWICK TRAIL is listed at $79 per square foot.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7117455129

The average sold price in the neighborhood in the past year is $88 per square foot with a range of $70 to $101 per square foot.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7117455114

Average rental amount in the neighborhood is $1,400.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7117455124

The link below is to several properties that are in desirable areas and at first look appear to be very well priced. If any catch your eye please let us know and we will forward market and rental comparables.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7117455168

Huntsville AL homes for sale for investment

Showing properties 1 - 5 of 5. See more Homes for sale in Huntsville AL.
(all data current as of 5/16/2013)