Homes of Huntsville; HUntsville AL MLS

Investment homes of Huntsville; In general my preference for investment property is single family homes that will rent in the $800 - $1300 range, located in neighborhoods with good schools and with consistent appreciation.
September 9th, 2012 8:54 PM

In general my preference for investment property is single family homes of huntsvillethat will rent in the $800 - $1300 range, located in neighborhoods with good schools and with consistent appreciation. While the cash flow of single family homes is not what multifamily properties advertise (often they cash flow on paper and in theory only) single family properties are much more liquid, have better appreciation and are much easier to manage.
The link below is to all the available multifamily properties in the Huntsville area. On a quick review, I see the same old properties that are usually posted but not selling. Most are in horrible areas where it is impossible to find decent tenants. The others are grossly overpriced. There are a few properties listed that we managed several years ago and dropped management of because it was so difficult to find decent tenants and the owners refused to maintain the properties. Most decent multifamily property either never reach the MLS or sell very quickly. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719206457 I do know of one unique multifamily property on Montesano Mountain, just east of our downtown and medical districts. It is not on the market but the owners would sell. We picked up management of the property three years ago. It has out of area owners and had been poorly managed by a local realtor for several years. There were serious maintanance issues and the rents were grossly under market levels. Over time we have taken care of the deferred maintenance and raised rents to market levels. We put the units on the market for sale last year and they went under contract in the remarkably short time of two weeks. The purchaser did his inspections and we waited for over 60 days for the appraisal. The appraiser used comparables from areas that were very bad, unsafe neighborhoods and not at all realistic comparisons. The appraisal came in extremely low. The buyers agent wanted us to drop the price to the appraised amount and became very angry when seller refused. The particular realtor that was representing the buyer has a very poor reputation for honest business practice and my belief is that she influenced the appraisal. The sellers were frustrated because we had taken the property off market for so long waiting on the purchaser and decided to wait until market conditions improved to re-list the property. The link below is to the old listing. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719206477 These are older units. We are adding central heat and air to one unit but the rest have wall heaters and widow air conditioners. The location is excellent, in a highly sought after area with excellent schools. If the property does interest you, we can provide more detail. The owners will probably take a good bit less than the list price. Right now Huntsville is still in a decidedly buyers market. There is far too much available inventory and some builders are struggling. I am aware do a few builders that have gone out of business. Our market is however showing signs of recovery and as the 4,700 projected new military jobs begin to be filled starting this spring and summer, our market will become more balanced. Since you have the wherewithal to pay cash for properties, you will be at a distinct additional advantage in negotiations. Once you acquire properties, you might consider taking out mortgages on them and reinvesting the loan proceeds into additional properties. Financing costs and lender requirements on "refinance" loans are much less than that of acquisition loans. Leveraging is a powerful wealth building tool. As mentioned in my first email, Madison followed by select areas of west Huntsville and northeast Madison County are my favorite areas to direct investors.Since you are just starting to get your bearings in the Huntsville real estate market, a review of areas to consider might be in order. Prospective tenants (and prospective buyers on an eventual resale) will consider the commute time to their work, the quality of the schools and then the quality of the neighborhood and the amenities of the specific property. Most of our area's larger employers that will grow from the incoming jobs with BRAC, are located on Redstone Arsenal in the southwest quadrant of Huntsville and immediately to the north of Redstone Arsenal in Cummings Research Park. Just west of Redstone Arsenal is the Huntsville International Airport. There are a few employers with campuses adjacent to the airport. The airport has two runways, both aligned south to north so properties in the flight path should be avoided.
Areas that are close to this concentration of employers are Madison and parts of west Huntsville. There are neighborhoods located in the city of Huntsville just west of Redstone Arsenal that have very good long term growth records and future growth potential. There is a lot of growth in this area of upscale homes. The schools in the area had seen some decline but there is a new school in the final stages of construction that will serve the area. I have spoken with parents of children who attend the school and they are happy with it. Another area I like is close-in northeast Madison County. I-565 goes to the edge of Huntsville to this area. There are plans to extend the interstate another 3 miles, eliminating traffic lights that are now at the end of the interstate. There are also plans for a large shopping, restaurant and entertainment complex at the edge if the city near the interstate. Site preparation had already been done for the complex when the economy took a downturn and the construction projects were delayed. The schools are good in this area and there is a lot of residential and retail growth. Commutes are moderate. The area also has a natural beauty with open space, mountains, rivers and lakes. Our family moved from the city two years ago to this area and we have been very pleased with the area.
The link below is to available properties in the Huntsville AL MLS in Madison that might be prospects. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719206509 Using the Collinwood neighborhood as an example again. The link below is to recent Huntsville AL MLS rental data. All of the properties are managed by our firm. You will see that rents are in the $1,100 to $1,250 range. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719213240 The link below is to Homes of Huntsville for sale in the area just west of Redstone Arsenal. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719213614 The link below is to candidate properties in northeast Madison County. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4719213632 If you are at the point of being ready to focus in on a particular area or price range please let me know. I can start to send properties for you to review. Once we start to focus in on a particular property we will provide a market analysis, listing history and estimated rental values. We can make an onsite visit and provide our impressions of the and forward additional, detailed photos. Will you be able to make visit to view the properties? If you like, we can provide references of out of state investor clients. We have several on the west coast and one who is still in Hawaii I believe .
On 114 BURWELLSPRING; Here are the comps. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718964979 The average sold price was $87 psf with a range of $83 to almost $90 psf. The average days on market was very high for our market at 198 days. Part of the high DOM might be new construction posted at the start of construction. At the average sold price of $87 psf you house would be at around $154,000. At a sale of $154,000 and assuming standard broker fees, costs, a possible $1,500 seller contribution to purchaser closing costs and a possible $500 in repairs after home inspection, you would net around $142,000. This assumes your taxes are escrowed.

Homes of huntsville

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Homes of Huntsville investors/ property management / relocating (Draft) (edit/delete)
Market recovery driven by investors;Investors are buying homes at a more rapid pace than ever before, and this time their investments actually make sense. Most are buying homes below replacement cost, or at prices that allow for a reasonable rental return.
Across the 167 metro areas we analyzed, investor activity rose to 29.6% of all transactions in the first quarter of this year, up from the trough of 23.6% in Q4 2009. Our research leads us to believe Q2 activity exceeds Q1, and since last quarter, investor activity has already spiked 2%!
Investor activity has returned to the markets where investors got burned the most. These markets include Miami, Phoenix, Las Vegas, Sacramento, and Riverside (CA). Some markets are now completely dominated by investors, such as Las Vegas (50% of all activity) and Phoenix (46%).We've helped several clients purchase homes of Huntsville without having physically seen them first and can give you a lot of additional information on candidate homes, neighborhoods and areas. We can preview homes, provide our impressions and lots of additional photography. I am however always uneasy until clients are able to see the house and get settled in. If there is any possible way it's best to make at least a short house hunting trip or haveSmall markets are also attractive to investors, especially in inland California (Merced, Modesto, Bakersfield, Vallejo, etc.) and second home buyers are also sensing the bargains, causing huge increases in Naples, The Villages, Tucson and Panama City.
The naysayers will surely point to these facts as a false recovery. While they are technically correct, we are not concerned at all, and are embracing the return of private capital. Most of these investors are paying all cash and buying homes below replacement cost. They are helping the market recover by removing supply at the low end of the market and driving real buyers to higher price points, including new homes. We don’t see a scenario where they dump their homes en masse on the market unless it becomes crystal clear that home prices are headed down again.
Normal wear and tear in rental properties;Source; Sarah Taggart law firm;In the past several weeks our law firm has seen a dramatic increase in the number of small claims court disputes regarding security deposits. This month we are going to discuss the legal concept of "reasonable wear and tear" and the security deposit.

Classically, a security deposit is designed to ensure that the rental premises are returned to the landlord in roughly the same condition that they were leased out, minus "reasonable wear and tear". That phrase often confuses landlords - the tendency is to think that all tenant-caused "damage" (or dirt) is the proper province of a security deposit OR that the security deposit can be used to help defray the costs of "turning" a unit.

That is not the case. "Reasonable wear and tear" includes deterioration of the rental premises that occurs during normal conditions. For example, paint may fade, electrical switches may wear out and break, pull strings on blinds may fray or break, carpet and tile may wear down. These things happen even if the tenant cleans regularly and cares for the premises reasonably. "Damage", on the other hand, occurs from "unreasonable use" and can include extreme build up of dirt or grime, stains on the carpets, broken windows, scorch marks on granite. As a general rule, the longer the length of the tenancy, the more "wear and tear" is reasonable. I find that if landlords look at the security deposit as a damage deposit they are less inclined to make questionable deductions.

Making questionable deductions from a security deposit can be a costly mistake: as noted above, many tenants will sue in small claims to recoup their deposit. The burden of proof is on the landlord to establish that damages exceed "reasonable wear and tear". Proper documentation, including a move-in inspection and photographs, are essential. You must also send the tenant a letter within 35 days of the "end" of the tenancy itemizing any deductions.

Also: routine "cleaning fees" or "carpet cleaning fees" that are always assessed is not a good practice. Each rental premises should be evaluated individually before you begin deducting from the deposit
family or colleagues view candidate homes first.
Huntsville Houses Search the huntsville al mls for huntsville houses for sale in huntsville at http://www. Huntsville-homes. Com/huntsville-houses-for-sale. Com no registration required. Request automated real estate search. Get the market value of your huntsville houses
The U.S. Bureau of Labor Statistics (BLS) reported that the July, 2012 unemployment rate jumped to 8.3% That’s bad. It means 12.9 million people are without work. And since it is easy to read such statistics without much thought, let’s emphasize it a bit. In the United States alone, 12,922,618 people are “newly” unemployed. These are moms and dads who worry about feeding their children, keeping their homes, and clothing themselves. It’s the equivalent of the entire population of Switzerland and New Zealand – COMBINED. But it’s far worse than that, really. A more accurate unemployment figure for the United States is 15.1%. And we’re not pulling that data from some anti-government site either. No, it’s a figure that comes directly from the U.S. government itself. You see, most Americans don’t realize it, but the government actually tracks 6 different unemployment figures (labeled as U1 thru U6). Since incumbent administrations (of either party) don’t want bad unemployment numbers pinned to them, they only publish a lower figure as the “official” unemployment rate. Currently, the U3 is the published, “headline” rate. That’s what’s at 8.3%. The higher fifteen percent number we mentioned above is the U6 rate, which includes those who have given up looking for jobs in the “short-term.” That means there are far more jobless people in the United States than you might think. 23.5 million, to be precise. That’s more than the entire population of Australia! Up until 1994, the government also tracked another figure. It included long-term “discouraged workers” (as they are officially called). These were people who had given up looking for a job longer-term, or who were forced to work part-time in a low-paying job because they couldn’t find anything else. The government didn’t like these people mucking up its numbers. They didn’t paint a rosy picture. So these folks were conveniently dropped from any official statistic of the U.S. government. The U.S. Bureau of Labor Statistics doesn’t even track these people at all anymore. The government says they don’t count. But John Williams, an economist who runs ShadowStats.com, thinks they do count. So he continues to compile this information. He calls it the SGS Alternate. The latest chart with data since 1994 is to the right. Using the same analysis model the government used to use, he calculates the true number of people currently out of work at 23.6%. That’s a whopping 36.7 million Americans. That’s more than the entire population of Canada! Still not convinced? CNN wasn’t so sure either, so they did their own investigation earlier this year. Their report in May 2012 found that ShadowStats.com -- and the government -- may have it ALL wrong. A person is counted as part of the labor force if they have a job or have looked for one in the last four weeks. This year, only 63.6% of Americans over the age of 16 fell into that category, according to the Labor Department. That means the remainder are not working or not looking. That number now stands at 86 Million people. That includes people who are retired, in school or staying home to raise kids. These are people who truly aren’t looking for work. But when CNN filtered those people out, they still came up with between 36-58 million people in the U.S. who are involuntarily jobless ... or who are working part time because they can’t find anything better. This is a staggering number. It means these people are either draining their savings and retirement funds to survive, or relying on government assistance to get by.
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Homes for sale in Huntsville Alabama; Huntsville MLS

I think we can find Homes for sale in Huntsville Alabama in that price range in safer areas
August 3rd, 2012 6:01 PM

My sympathies about your home's value. I understand that Florida was among the top three states for property values dropping. Huntsville has been effected as well but not near as much as most parts of the country. It is a relief that your daughter lives in Huntsville and give you her insight on areas that you are considering. While I make a point of reading the local news to know where areas of higher crime are, she can advise you as well. Would she be wiling to preview homes with me prior to your house hunting trip? Would it be helpful to copy her on our correspondence?

From the six listings you sent, it seems you are focusing on northwest Huntsville. Is there a reason you are attracted to that area? My wife grew up in northwest Huntsville in the 60's and 70's. At that time the area was great. The schools were good, homes were well cared for and crime was low. The area has however changed. We see northwest Huntsville in the news far too often for robberies and violent crime, The schools are struggling and are a reflection of the neighborhoods they serve. Our firm manages over 400 rentals in the greater Huntsville area and we no longer accept new property to manage in the northwest. We find it nearly impossible to attract stable tenants and there are a few neighborhoods that are dangerous. It looks like your price range is up to $100,000. I think we can find Homes for sale in Huntsville Alabama in that price range in safer areas. South Huntsville, Madison, the Wheeler area south of Madison, Montesano, Northeast Huntsville and just outside the city to the northeast are all areas you might consider. Can you please let me know if you would consider these areas and if you daughter shares my opinion of northwest Huntsville? In the meanwhile would the homes at the link below be candidates? http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7115905593
Valley MLS Huntsville MLS

Huntsville AL MLS; rental value research

Huntsville Alabama MLS; Rental home market value
August 1st, 2012 5:38 PM



While the market might bear a higher rent, the summary of comparable homes below along with the archive listing of your house point to something in the $995 - $1,100 range. We could market the house at the upper end of the range or slightly greater and gauge our pricing by showing activity. On rentals in this price range we should see 2 - 3 showings per week. If showings are consistently less we would know we are priced too high. There is always a balance between holding out for the highest rent and vacancy losses if the house remains unrented. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116084793 The link below is to the old listing of the house from 2009 that I referenced. The photos aren't very good and may not do the house justice. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116084804 The webpage at the following link is an overview of our fees and services. I have attached a copy of our property management agreement for your review. http://www.huntsville-homes.com/PropertyManagement Regarding a potential sale; Your breakeven point on a sale assuming common costs and seller contributions would be in the $225,000 / $90 per square foot range. I searched for Huntsville Alabama MLS activity in DILWORTH ESTATES in the past year. There were no sales and one active listing at 2433 PENN STREET at the link below. The house has been on the market since 05/04/12. It is currently listed at $229,000 / $83 per square foot. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116084818 The link below is to a summary of active listings and recent sales of homes in the Grissom school district similar in age and size as your home. The average sold price was $91 per square foot with a very wide range of $78 to $106 per square foot. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116084826 The link below is to active listings in south Huntsville in the $220,000 - $225,000 range. These homes would be competing for the same buyers as your home. I included the listing history summary so you see how long the homes have been on market. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116084839 The link below is the same search including all of Madison County. There are 56 active listings that include new and newer homes. http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7116084843 My impression is that while it is not impossible to sell at a breakeven point or better it will be difficult. There is a lot of inventory available and even though your home was built better than new construction, it's hard for older homes to compete with new construction. You might consider offering the house as a lease with option to purchase to gain an edge over competing homes. Please follow the link below for more information. http://www.huntsville-homes.com/LeaseOptionLeasePurchaseforSellers I hope this was helpful and please let me know if there is anything else we can be doing for you. The link below is to some additional information about me. Rosenblum Realty is one of the oldest realty firms in Huntsville. We have served Huntsville since 1957 and are a fourth generation company. We are the largest manager of single family homes in the Huntsville area with over 400 homes in inventory. We have two property managers, myself and Michel Rosenblum, a total of six realtors and three office staff. http://www.huntsville-homes.com/Philip'sProfile Valley MLS Huntsville MLS

huntsville mls huntsville homes for sale

Use caution in Lease Purchase transactions.



downtown Huntsville

On the recommendation of our attorney, we structure our lease purchase transactions as options to purchase. She has had cases where a purchaser in a lease purchase defaulted and a judge ruled that the purchaser had an equity or ownership interest in the property. Rather than simply evicting a tenant in default. The seller must foreclose on the purchaser. By structuring the agreement as an option to purchase with a concurrent lease we avoid the potential for purchaser to claim an equity interest.

Madison County Courthouse, Huntsville AL
The attorney also stated that the earnest money paid by the home purchaser must be limited to $2,000 - $3,000. She has seen judges rule that large earnest money payments to the seller by the purchaser created an equity interest for the purchaser. The judge ruled that the agreement was an agreement to purchase and seller had to go through a long and expensive foreclosure process.

downtown Huntsville street view
Dallas Mill water tower Huntsville AL

Downtown Huntsville street scene

Huntsville AL flowering trees

Keywords; Lease purchase homes . Huntsville homes for sale - Huntsville MLS search, Automated Real Estate Search, HomeValue and Huntsville Homes for sale RealEstate Market Updates, Huntsville Alabama area Rental Homes, Property Management.

equestrian property in huntsville mls

Huntsville MLS search for equestrian property in Huntsville

The house is in Limestone County but within the city of Madison. Here is the satellite image.

http://maps.google.com/maps?q=28872+POWELL+ROAD,+MADISON,+AL+35756&hl=en&ll=34.714179,-86.807112&spn=0.00099,0.002588&sll=37.0625,-95.677068&sspn=31.28862,84.814453&vpsrc=6&hnear=28872+Powell+Rd,+Madison,+Alabama+35756&t=h&z=19

Google street view;

http://maps.google.com/maps?q=27088+Powell+Road,+Madison,+AL+35756&hl=en&ll=34.714507,-86.807334&spn=0.000035,0.028839&sll=34.714859,-86.83759&sspn=0.00799,0.028839&vpsrc=6&hnear=27088+Powell+Rd,+Madison,+Alabama+35756&t=h&z=16&layer=c&cbll=34.714501,-86.807436&panoid=9saHV3VyRCAn4WZv1vyXQw&cbp=12,180,,0,0


While traffic will increase over time Powell Road ends about a mile and half to the west. There is a pond to the immediate west of the house.Just south of the pond there is a shed or barn with what looks like a stock handling yard. There is not any livestock in the image and there is grass growing in the pen. If the pen was seeing use there wouldn’t be grass.

Further to the west and closer to the road there is a shed that may have some vehicles or equipment composting. This is pretty common on farms and may not be a point of concern. Further west there is a house and then an old mobile home.

After the mobile home there is a small church.

There is an odd set of three buildings that sit off the road on a dirt drive. I can’t tell what this property is but it’s far enough from the subject home that a stable or farm operation wouldn’t have much impact.

http://maps.google.com/maps?q=28872+POWELL+ROAD,+MADISON,+AL+35756&hl=en&ll=34.713621,-86.811841&spn=0.00198,0.005177&sll=37.0625,-95.677068&sspn=31.28862,84.814453&vpsrc=6&hnear=28872+Powell+Rd,+Madison,+Alabama+35756&t=h&z=18&layer=t


With the exception of a TVA substation at the west end of Powell Road the other properties in the street are homes, small farms and a couple of mobile homes.

To the east to the property there is a house and then a new housing development GREENBRIER WOODS .

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114961027

To the south there is housing and to the southwest there is more housing. While the property may not be landlocked future, close by development is doubtful.

The tax plat is below. The area shown is far more than 2.5 acres. I suspect seller has divided the property around the house and the tax records haven’t updated yet.















While the icon is a little too far east the flood / topographic map is below.



Homes for sale in Huntsville AL













The house has been on market since 07/27/11, I was originally listed at $398,500. On 10/04/11 the price was lowered to $349,900 and on 10/28/11 the price was reduced to the current $329,900.

On horses, I did see any on the satellite image but there is a stable listed in Google at

Belle Mina North Stables

27088 Powell Road, Madison, AL 35756

Satellite.


http://maps.google.com/maps?q=27088+Powell+Road,+Madison,+AL+35756&hl=en&ll=34.714842,-86.841731&spn=0.00792,0.028839&sll=34.710693,-86.808314&sspn=0.00792,0.020707&vpsrc=0&hnear=27088+Powell+Rd,+Madison,+Alabama+35756&t=h&z=16&layer=t&lci=com.panoramio.all,com.google.webcams

Street view.

http://maps.google.com/maps?q=27088+Powell+Road,+Madison,+AL+35756&hl=en&ll=34.714859,-86.83759&spn=0.000035,0.028839&sll=34.710693,-86.808314&sspn=0.00792,0.020707&vpsrc=6&hnear=27088+Powell+Rd,+Madison,+Alabama+35756&t=h&z=16&layer=c&cbll=34.714859,-86.83759&panoid=dTRHk0g8Xnp8MLxvdWVhfw&cbp=12,135,,0,0

Huntsville Houses Real EstateWe can assist you in finding area Huntsville houses that will meet your needs and price range.You can search the entire Huntsville MLS for houses on your own without having to register.Huntsville HousesWe can assist you in finding area houses that will meet your needs and price range.You can search the entire Huntsville MLS for houses on your own without having to register.