Homes for sale in Huntsville AL / It's hard to overcome neighborhood values

Homes for sale in Huntsville AL / It’s hard to overcome market values. July 25, 2011
Tags: Homes for sale in Huntsville AL, Homes for sale in Huntsville Alabama, Huntsville Houses

It’s hard to overcome the market values in a given neighborhood. There was only one very low sale and there are five active listings with the highest being lower than where you need to sell. Even if you found a buyer at your target price the lender’s appraiser would have to find recent sales at that level in order for the buyer to get a loan approval. Without supporting sales the loan would be denied.

Another factor to consider is that when a house first goes on market, it receives the most attention. It has to be in it’s best condition and be priced within the market range for those first several weeks. After a property has been on market a long time without selling buyers and realtors often assume there is something wrong with the house. It becomes a “stale” listing and receives very little activity.Huntsville Houses – Huntsville Alabama MLS search, Automated Real Estate Search, Home Value and Real Estate Market Updates, Huntsville Alabama area Rental Homes, Property Management.

An option for you might be to wait until about 3 – 4 months from when you need to sell before putting the house on the market. We are seeing an improvement in the local market and hopefully values in your neighborhood will have improved. Another option is to offer the house as a lease purchase to attract more potential buyers. If the house won’t sell you might consider renting it until values improve. Homes for sale in Huntsville AL
If you would not be able to make mortgage payments on your house if it doesn’t sell once you leave the area your lender may be willing to do a short sale. Allowing the house to sell for less than what is owed in order to avoid foreclosure. Your credit would be effected but you would avoid a foreclosure and the lender not you would take the loss.

I had one client who moved here from the DC area. Property values in her area had plummeted to the point that there was no possibility of selling. While her credit was still good she purchased a house here and then informed the lender of the DC house that she could no longer make the mortgage payments and deeded the house to the lender. Her credit took a horrible hit but she was able to provide a place for her children to live.

These last two options are obviously last resort options but your situation is not unique. Over the past two years we have helped a number of clients who’s property values dropped to well below what they owed on the house. Several had to do a short sale, we were able to get tenant buyers under a lease purchase on three houses and we have over a dozen rentals where the seller is waiting for the market to recover before trying to sell again.Homes for sale in Huntsville AlabamaHuntsville Alabama MLS search, Automated Real Estate Search,

I hope this information was helpful and I regret that the sales data wasn’t better news for you

Rental, Sale, Lease purchase home Huntsville AL 3 min to Redstone Arsenal

$1,200 Huntsville, AL 35824 Presented by: Christina Winburn Rosenblum Realty Inc. & Philip Winburn (256) 65-2-7354 103 ZEONA COURT Click here to visit www.Huntsville-Homes.com for more photos. Property Highlights Bedrooms: 3 Full bathrooms: 2 Square footage: 1800 *MOL Property Description Lease Purchase possible at $165,000. Full brick, 3 bedroom, 2 full baths, and heated and cooled Sun Room. Large backyard with a privacy fence on two sides. Desirable location with easy access to Redstone Arsenal, Bridge Street, Huntsville Jetport, Cummings Research Park and all major shopping areas. 5 min. to Redstone Arsenal. Sunroom is not included in sf. FOLLOW LINK FOR INFORMATION ON THE ADVANTAGES OF LEASE PURCHASE HUNTSVILLE HOUSES AND ANSWERS TO FREQUENTLY ASKED QUESTIONS. PLEASE CALL CHRISTINA AT 256-652-7354 FOR INFORMATION AND SHOWINGS. Foyer 5 x 5 MasterBR 15 x 14 Bedroom2 12 x 10 Bedroom3 11 x 10 Family 14 x 14 Sun 13 x 10 1 Great 19 x 15 Laundry 6 x 6 Kitchen 13 x 12 Brkfst 12 x 12 1 Dir:Highway 20 to Zierdt Road. Going south on Zierdt about 5 miles and turn Right on Bremerton Drive. Go to end of street and turn right on Herrick and turn right on Zeona Court. GOOGLE MAP. GOOGLE STREET VIEW James E Williams School Columbia High School All of our available houses are posted. CRAIG’S LIST AND OFF SITE VIEWERS. Our houses often rent very quickly and this house may no longer be available. Please follow the link to see all of our available HUNTSVILLE HOMES FOR RENT Properties are shown by appointment only. Weekend schedules, especially holiday weekends fill well in advance. Maps and driving directions are available on links at the top of our website’s rental houses listings. The application fee is $20 per adult and is non-refundable. The application can be printed from the PDF file at the link on the top of our Rental houses page. Instructions on submitting the rental application are provided on the application. The security deposit is equal to one month's rent. Security deposits and the first month’s rent must be paid in certified funds. On properties that allow pets they are accepted on a case-by case basis. Smaller and older pets are preferred. Pit Bulls, Rottweilers and Mastiffs are rarely accepted. The refundable pet deposit is normally $200 per pet. In the case of larger and / or younger pets the deposit may be increased. We may have pending rental applications or leases on posted properties and will continue to market houses until we have a signed lease and security deposit. We can hold an available property for a maximum of two weeks with a signed lease and security deposit. All of our homes are non-smoking. Smokers must only smoke out of the house only. Costs to remove smoke odor and staining can be substantial. AT ANY GIVEN TIME WE HAVE ABOUT TWO DOZEN AVAILABLE PROPERTIES WITH MORE BEING ADDED EACH WEEK. AVOID FRAUD We have found our properties posted on Craig’s List and other sites by someone else who is not the owner or the manager. They list the property for far less than the market value and after getting personal information from the victim ask them to mail money. They even go to the trouble of looking up the owner’s name in tax records, making up a false email address that includes the owner’s name and pose as the owner. Use caution Huntsville Alabama MLS homes for sale. Property Details Contact Christina Winburn Presented by: Christina Winburn Rosenblum Realty Inc. & Philip Winburn (256) 65-2-7354 www.Huntsville-Homes.com We are pledged to the letter and spirit of U.S. policy for the achievement of equal opportunity housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin. Equal Housing Opportunity Slogan: "Equal Housing Opportunity."

Huntsville AL homes for sale verses Huntsville AL rental homes

Since you may not know the Huntsville are well, the link below is to a webpage on our site for newcomers to our area. The information might be helpful as you start your search.

Huntsville AL newcomer information.

My personal favorite area is northeast Madiosn County followed by the Hampton Cove area.

If you did decide to move forward with a purchase and wanted to keep your payments in the $1,800 - $2,000 range we should be looking for homes in the $280,000 to $290,000 range. The advantage to waiting to purchase is that you will have time to learn the area before committing to a purchase. The downside to waiting is that interest rates are trending higher and while the Huntsville real estate market is still soft, there are consistent signs that it is recovering. Home prices are starting to creep upward and days on market for sales becoming less. If the current trend continues it may be more expensive to purchase next year.

The second link below is to a sampling of available properties for sale in areas with schools that are already good or with schools that are average and trending towards improvement. The area just to the west of Redstone Arsenal is the fastest growing are of Huntsville. There is a lot of active construction and plans for future development including roads and shopping. A new middle school, Williams Middle was finished last year on the campus of Williams Elementary. Whole the elementary school has low rankings and the middle school has not yet been ranked, my expectation is that with the influx of higher income, engaged, tax paying parents the schools will improve. Given you are 4 - 5 years away from schools being an issue, this area might be an option for you.

http://www.schooldigger.com/go/AL/schools/0180001796/school.aspx

Knowing the area your preferences and neighborhoods the following properties caught my eye. 105 RUSTY'S TERRACE , 111 OLD VININGS WAY, 112 GALT LANE , 106 BERRY HILL DRIVE, 207 TARA LEIGH DRIVE, 116 BRIDGE ARBOR LANE*, 128 MYKEYS WAY *, 121 GRANGER LANE *, 133 LULLWATER WAY *, 115 RIVER MEADOW WAY *, 108 WALNUT COVE (Williams Schools), 77 NUTCRACKER LANE (Williams school), 1 YOUPON DRIVE (Williams school),
Homes for sale.

The link below is to rental listings that might be candidates for you.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7113865114


Please let me know if there is anything else I can do for you. I do have a couple of trusted lenders I can refer you to if you decide to purchase.

Best Regards,

PhilipWinburn

256.797.4570

philipwinburn@mchsi.com

http://www.huntsvillerealty.net/

http://twitter.com/philipwinburn