Huntsville MLS Short sales are especially difficult
November 2nd, 2011 8:09 AM
You may experienced in purchasing short sales and foreclosure homes but if you aren’t I wanted to prepare you for some of the hurdles;
Short sales are especially difficult in that we may have to wait weeks if not months to hear back from the lender on offers. Because it takes so long for the lender to respond there may be multiple offers. Some lenders are fairly efficient but most aren’t.
On foreclosures we need to take a close look at the property condition and compare it’s price to that of recent Huntsville MLS comparable sales. Often foreclosures are not priced well and it takes the lender many months to over a year to lower the price to what the market will bear. Foreclosure properties are also more difficult to finance. In Alabama the borrower who lost the house or his assignee have the right to redeem the property for one year from the date of the sale. Properties are rarely redeemed but lenders require a redemption bond to protect their interests from the possibility of redemption. The last bond I was party to cost around $2,200.
Downtown Huntsville
Short sales are especially difficult in that we may have to wait weeks if not months to hear back from the lender on offers; Huntsville MLS November 2, 2011
Filed under: huntsville mls,mls huntsville — Philip Winburn @ 12:06 pm Tags: Huntsville MLS, Huntsville MLS Search
Wednesday, November 2, 2011
Tuesday, November 1, 2011
Huntsville MLS
Preview and research Huntsville AL homes for sale; Huntsville MLS search November 1, 2011
November 1st, 2011 2:14 PM
The link below is to the Google image of the Berry Road house. It is a quiet street with little traffic. There are woods on both sides and at the back of the house. I did hear someone practicing drums for a little while. I think the sound was coming from the the house to the north. The one nearest the street. It didn’t last for long and it was in the late afternoon.
http://maps.google.com/maps?q=367+BERRY+ROAD,+SCOTTSBORO,+AL+35769&hl=en&ll=34.598004,-86.070848&spn=0.001983,0.00721&geocode=+&hnear=367+Berry+Rd,+Scottsboro,+Alabama+35769&t=h&z=18&vpsrc=6
The images below are the tax plat of the property.
Huntsville AL homes for sale
Wider view. The owner said the house was about a mile from a boat ramp.
Huntsville MLS
The link below is to the photos. The owner does have deer on the property. I saw tracks. It is in the city limits and I don’t know if hunting on the property would be allowed.
http://youtu.be/IoaU9yn7HY8
I had asked the listing agent of the 2737 County Road 8 to better map the property location in the Huntsville MLS so we could locate a satellite image. She blew me off saying she had mapped the house as close as possible to it’s actual location. I asked for landmarks to help locate the house on satellite but she didn’t respond.
After seeing the house in person I think the link below is to the actual location about a mile west of where she had placed it. The commercial building in front is Kennedy Used Cars. The front on Kennedys doesn’t look too bad but there are lots of semi trucks and junk cars parked on the right side and rear of the building. It looks like they are mining gravel or chert out of the hillside behind the building as well. There was a track hoe with a front end loader parked behind the building. You can see the commercial property and earthworks from the front porch of the house. The commercial operation is about 100 yards from the house.
The stove and water heater are propane but the tank has been removed.
When I walked up to the house I flushed an Armadillo and saw where he was digging tunnels in the yard.
The house itself is pretty nice but has some deferred maintenance. I did note lightning rods on the house. A good idea being located on the edge of mountain. The view is breathtaking but the surrounding property will make this house a tough one to sell.
If the listing agent had been forthcoming we may have saved the trip.
http://maps.google.com/maps?q=2737+COUNTY+ROAD+8,+WOODVILLE,+AL+35776&hl=en&ll=34.743437,-86.205114&spn=0.003958,0.01442&sll=37.0625,-95.677068&sspn=14.20984,63.193359&vpsrc=6&hnear=2737+County+Road+8,+Woodville,+Alabama+35776&t=h&z=17
Here are the photos.
http://youtu.be/uR1VtUSkN7g
Filed under: huntsville alabama mls,huntsville mls,huntsville mls search,mls huntsville —
Tags: Homes for sale in Huntsville AL, Huntsville MLS, Huntsville MLS Search
November 1st, 2011 2:14 PM
The link below is to the Google image of the Berry Road house. It is a quiet street with little traffic. There are woods on both sides and at the back of the house. I did hear someone practicing drums for a little while. I think the sound was coming from the the house to the north. The one nearest the street. It didn’t last for long and it was in the late afternoon.
http://maps.google.com/maps?q=367+BERRY+ROAD,+SCOTTSBORO,+AL+35769&hl=en&ll=34.598004,-86.070848&spn=0.001983,0.00721&geocode=+&hnear=367+Berry+Rd,+Scottsboro,+Alabama+35769&t=h&z=18&vpsrc=6
The images below are the tax plat of the property.
Huntsville AL homes for sale
Wider view. The owner said the house was about a mile from a boat ramp.
Huntsville MLS
The link below is to the photos. The owner does have deer on the property. I saw tracks. It is in the city limits and I don’t know if hunting on the property would be allowed.
http://youtu.be/IoaU9yn7HY8
I had asked the listing agent of the 2737 County Road 8 to better map the property location in the Huntsville MLS so we could locate a satellite image. She blew me off saying she had mapped the house as close as possible to it’s actual location. I asked for landmarks to help locate the house on satellite but she didn’t respond.
After seeing the house in person I think the link below is to the actual location about a mile west of where she had placed it. The commercial building in front is Kennedy Used Cars. The front on Kennedys doesn’t look too bad but there are lots of semi trucks and junk cars parked on the right side and rear of the building. It looks like they are mining gravel or chert out of the hillside behind the building as well. There was a track hoe with a front end loader parked behind the building. You can see the commercial property and earthworks from the front porch of the house. The commercial operation is about 100 yards from the house.
The stove and water heater are propane but the tank has been removed.
When I walked up to the house I flushed an Armadillo and saw where he was digging tunnels in the yard.
The house itself is pretty nice but has some deferred maintenance. I did note lightning rods on the house. A good idea being located on the edge of mountain. The view is breathtaking but the surrounding property will make this house a tough one to sell.
If the listing agent had been forthcoming we may have saved the trip.
http://maps.google.com/maps?q=2737+COUNTY+ROAD+8,+WOODVILLE,+AL+35776&hl=en&ll=34.743437,-86.205114&spn=0.003958,0.01442&sll=37.0625,-95.677068&sspn=14.20984,63.193359&vpsrc=6&hnear=2737+County+Road+8,+Woodville,+Alabama+35776&t=h&z=17
Here are the photos.
http://youtu.be/uR1VtUSkN7g
Filed under: huntsville alabama mls,huntsville mls,huntsville mls search,mls huntsville —
Tags: Homes for sale in Huntsville AL, Huntsville MLS, Huntsville MLS Search
Monday, October 31, 2011
Huntsville mls investment real estate
Huntsville MLS investment real estate
October 31st, 2011 1:51 PM
At $40,000 down payment we will be looking in the $160,000 to $200,000 range.The link below is to all available multifamily property in Madison County upto $200,000. As you review the listings not that there are a lot of listingsin the same area. There is a reason these units haven’t sold. With theexception of 2426 WYNTERHALL ROAD I really didn’t see any properties that Icould reccomend a closer look on.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114950274
Huntsville MLS investment real estate October 31, 2011
Filed under: huntsville mls,Uncategorized —
Tags: Huntsville MLS
Huntsville MLS investment real estate ; We offer conservative real estate investment counsel, researching candidate investment properties beyond face value. We manage almost 400 properties and understand the Huntsville real estate market well. Rosenblum Realty is a fourth generation independent realty firm that has served Huntsville since 1957. We are recipients of the Huntsville small business of the year award and hold best in business accreditation.
October 31st, 2011 1:51 PM
At $40,000 down payment we will be looking in the $160,000 to $200,000 range.The link below is to all available multifamily property in Madison County upto $200,000. As you review the listings not that there are a lot of listingsin the same area. There is a reason these units haven’t sold. With theexception of 2426 WYNTERHALL ROAD I really didn’t see any properties that Icould reccomend a closer look on.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114950274
Huntsville MLS investment real estate October 31, 2011
Filed under: huntsville mls,Uncategorized —
Tags: Huntsville MLS
Huntsville MLS investment real estate ; We offer conservative real estate investment counsel, researching candidate investment properties beyond face value. We manage almost 400 properties and understand the Huntsville real estate market well. Rosenblum Realty is a fourth generation independent realty firm that has served Huntsville since 1957. We are recipients of the Huntsville small business of the year award and hold best in business accreditation.
huntsville mls
Huntsville MLS search 3083 OLD HWY 431
October 31st, 2011 10:48 AM
On 3083 OLD HWY 431;
Huntsville MLS search image
The house does look decent at first glance and may be worth a look. I know it’s been on market a LONG time. The first posting was 07/01/10 with WELLMAN PROPERTIES, INC at the owner. It was re-listed in the Huntsville MLS on 05/11/11 at $89,900 with WORTHINGTON FEDERAL BANK as the owner.
The link below is to the Google satellite image of the home. Zoom out a bit to see the surrounding area.
http://maps.google.com/maps?q=3083+OLD+HWY+431,+OWENS+CROSS+ROADS,+AL+35763&hl=en&ll=34.586172,-86.458362&spn=0.000496,0.001802&sll=37.0625,-95.677068&sspn=31.28862,84.814453&vpsrc=6&hnear=3083+Old+Highway+431,+Owens+Cross+Roads,+Alabama+35763&t=h&z=20
The link below is to the Google street view where you can pan, zoom and increment up and down the road to see the surrounding area.
http://maps.google.com/maps?q=3083+OLD+HWY+431,+OWENS+CROSS+ROADS,+AL+35763&hl=en&ll=34.586275,-86.458953&spn=0.000009,0.00721&sll=37.0625,-95.677068&sspn=31.28862,84.814453&vpsrc=6&hnear=3083+Old+Highway+431,+Owens+Cross+Roads,+Alabama+35763&t=h&z=18&layer=c&cbll=34.586048,-86.45895&panoid=Z2b789SmZDDGH8kMKlSE-A&cbp=12,54.4,,0,0
Location on this home is questionable. It’s pretty far out of the city. While schools are not important to you they will be on an eventual re-sale The primary school is considered good but the high school is not the greatest.
Huntsville MLS search 3083 OLD HWY 431 October 31, 2011
Filed under: huntsville mls,mls huntsville
Tags: Huntsville MLS
October 31st, 2011 10:48 AM
On 3083 OLD HWY 431;
Huntsville MLS search image
The house does look decent at first glance and may be worth a look. I know it’s been on market a LONG time. The first posting was 07/01/10 with WELLMAN PROPERTIES, INC at the owner. It was re-listed in the Huntsville MLS on 05/11/11 at $89,900 with WORTHINGTON FEDERAL BANK as the owner.
The link below is to the Google satellite image of the home. Zoom out a bit to see the surrounding area.
http://maps.google.com/maps?q=3083+OLD+HWY+431,+OWENS+CROSS+ROADS,+AL+35763&hl=en&ll=34.586172,-86.458362&spn=0.000496,0.001802&sll=37.0625,-95.677068&sspn=31.28862,84.814453&vpsrc=6&hnear=3083+Old+Highway+431,+Owens+Cross+Roads,+Alabama+35763&t=h&z=20
The link below is to the Google street view where you can pan, zoom and increment up and down the road to see the surrounding area.
http://maps.google.com/maps?q=3083+OLD+HWY+431,+OWENS+CROSS+ROADS,+AL+35763&hl=en&ll=34.586275,-86.458953&spn=0.000009,0.00721&sll=37.0625,-95.677068&sspn=31.28862,84.814453&vpsrc=6&hnear=3083+Old+Highway+431,+Owens+Cross+Roads,+Alabama+35763&t=h&z=18&layer=c&cbll=34.586048,-86.45895&panoid=Z2b789SmZDDGH8kMKlSE-A&cbp=12,54.4,,0,0
Location on this home is questionable. It’s pretty far out of the city. While schools are not important to you they will be on an eventual re-sale The primary school is considered good but the high school is not the greatest.
Huntsville MLS search 3083 OLD HWY 431 October 31, 2011
Filed under: huntsville mls,mls huntsville
Tags: Huntsville MLS
Huntsville mls investment
Huntsville MLS investment property
October 31st, 2011 8:09 AM
In the second section of the listing it shows 8 units, 2 bedrooms each withrents at $325.
Late afternoon on Huntsville's Monte Sano
The income and expense information from the listing below is incomplete. Wewould need to get the rent rolls to confirm expenses and vacancies but thelisting states.
Gross Income: $33,228Vacancy: $0Taxes: $1,211Insurance:Gas & Elec: $0Water & Sewer: $0Waste Remov: $456Maintenance:Management:Other Exp: $480Total Exp:Net Op Income:
Unless you are an experienced landlord, managing low income apartments willbe hard. We manage almost 400 properties and regularly turn down lowerincome multi-family property. Even as professional property managers withresources, experience and a great Tenant Landlord Law attorney. Managing lowincome property is a bad business decision. It uses way too many resourcesfor minimal return.
If you are looking for multi-family my counsel would be to look in a litterhigher price range
This unit has been on the market since 08/18/11 without selling. It lastsold for $192,000 on 06/28/07.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114948678
Huntsville Downtown Huntsville
From selling at $192,000 to being listed at $150,000 for three monthswithout selling might be an indication the neighborhood is in decline.
I review available multifamily homes for investor clients and the only on onthe Huntsville MLS market I could really reccomend them reviewing is.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114948679
I think it’s priced a little high for the market but it is in a stable area.
My preference is single family property. Its more liquid, has betterappreciation and is much easier to manage. The cash flow is not as good asmulti-family but it’s a much safer investment.
Huntsville skyline
Huntsville MLS investment property October 31, 2011
Filed under: huntsville alabama mls,huntsville mls,mls huntsville
Tags: HUntsville AL MLS, Huntsville MLS, Huntsville MLS Search, mls huntsville
October 31st, 2011 8:09 AM
In the second section of the listing it shows 8 units, 2 bedrooms each withrents at $325.
Late afternoon on Huntsville's Monte Sano
The income and expense information from the listing below is incomplete. Wewould need to get the rent rolls to confirm expenses and vacancies but thelisting states.
Gross Income: $33,228Vacancy: $0Taxes: $1,211Insurance:Gas & Elec: $0Water & Sewer: $0Waste Remov: $456Maintenance:Management:Other Exp: $480Total Exp:Net Op Income:
Unless you are an experienced landlord, managing low income apartments willbe hard. We manage almost 400 properties and regularly turn down lowerincome multi-family property. Even as professional property managers withresources, experience and a great Tenant Landlord Law attorney. Managing lowincome property is a bad business decision. It uses way too many resourcesfor minimal return.
If you are looking for multi-family my counsel would be to look in a litterhigher price range
This unit has been on the market since 08/18/11 without selling. It lastsold for $192,000 on 06/28/07.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114948678
Huntsville Downtown Huntsville
From selling at $192,000 to being listed at $150,000 for three monthswithout selling might be an indication the neighborhood is in decline.
I review available multifamily homes for investor clients and the only on onthe Huntsville MLS market I could really reccomend them reviewing is.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114948679
I think it’s priced a little high for the market but it is in a stable area.
My preference is single family property. Its more liquid, has betterappreciation and is much easier to manage. The cash flow is not as good asmulti-family but it’s a much safer investment.
Huntsville skyline
Huntsville MLS investment property October 31, 2011
Filed under: huntsville alabama mls,huntsville mls,mls huntsville
Tags: HUntsville AL MLS, Huntsville MLS, Huntsville MLS Search, mls huntsville
Friday, October 28, 2011
Huntsville MLS search investment property
Huntsville MLS search for investment property in Huntsville
October 28th, 2011 2:09 PM
Huntsville MLS search image
I searched the Huntsville MLS for viable multi-family property. Out of over 80 available properties the one at the link below is the only one I saw that is worth considering. The others are in bad areas,
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114941424
It has been on market since 08/19/11. There link below is to where the current owner bought the unit 9/24/10 for $130,000.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114941426
The link below is to a summary of MLS activity in the neighborhood since 01/01/09. There is not really any relevant data in the sales but I think $199,000 is well above waht the market will bear.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114941432
Depending on how much work the current owner had to do to the building when he bough it, his break even point on a sale will be in the $140,000 range.
The rents that are stated on teh listing look to be in line with what I would expect.
The link below is to the Google satellite image of the property.
http://maps.google.com/maps?q=2426+WYNTERHALL+ROAD,+HUNTSVILLE,+AL+35803&hl=en&ll=34.610853,-86.55334&spn=0.007929,0.028839&sll=37.0625,-95.677068&sspn=31.28862,84.814453&vpsrc=6&hnear=2426+Wynterhall+Rd+SE,+Huntsville,+Alabama+35803&t=h&z=16
While Google didn’t go down this portion of the street the link below is to the Google street view of the neighborhood.
http://maps.google.com/maps?q=2426+WYNTERHALL+ROAD,+HUNTSVILLE,+AL+35803&hl=en&ll=34.609776,-86.551881&spn=0.000035,0.028839&sll=37.0625,-95.677068&sspn=31.28862,84.814453&vpsrc=6&hnear=2426+Wynterhall+Rd+SE,+Huntsville,+Alabama+35803&t=h&z=16&layer=c&cbll=34.609749,-86.551186&panoid=uikMp88Il_RHusggvYDQWw&cbp=12,90,,0,0
Please let me know if I can do additional research on this property for you.
Moontown Airport fly-in Russian wwII fighter
We just picked up the townhouse below as a rental. We are getting decent activity at $795. It’s not on the market for sale but the owner would sell, She is asking $95,000.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114941439
The link below is to the old MLS listing where the current owner bought the house in 2005 for $70,000. Her break even point on a sale would be in the $80,000 range. I don’t know what she would take for the unit but let me know if it interests you.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114941442
The link below is to some foreclosed single family properties that might be worth a closer look.
October 28th, 2011 2:09 PM
Huntsville MLS search image
I searched the Huntsville MLS for viable multi-family property. Out of over 80 available properties the one at the link below is the only one I saw that is worth considering. The others are in bad areas,
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114941424
It has been on market since 08/19/11. There link below is to where the current owner bought the unit 9/24/10 for $130,000.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114941426
The link below is to a summary of MLS activity in the neighborhood since 01/01/09. There is not really any relevant data in the sales but I think $199,000 is well above waht the market will bear.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114941432
Depending on how much work the current owner had to do to the building when he bough it, his break even point on a sale will be in the $140,000 range.
The rents that are stated on teh listing look to be in line with what I would expect.
The link below is to the Google satellite image of the property.
http://maps.google.com/maps?q=2426+WYNTERHALL+ROAD,+HUNTSVILLE,+AL+35803&hl=en&ll=34.610853,-86.55334&spn=0.007929,0.028839&sll=37.0625,-95.677068&sspn=31.28862,84.814453&vpsrc=6&hnear=2426+Wynterhall+Rd+SE,+Huntsville,+Alabama+35803&t=h&z=16
While Google didn’t go down this portion of the street the link below is to the Google street view of the neighborhood.
http://maps.google.com/maps?q=2426+WYNTERHALL+ROAD,+HUNTSVILLE,+AL+35803&hl=en&ll=34.609776,-86.551881&spn=0.000035,0.028839&sll=37.0625,-95.677068&sspn=31.28862,84.814453&vpsrc=6&hnear=2426+Wynterhall+Rd+SE,+Huntsville,+Alabama+35803&t=h&z=16&layer=c&cbll=34.609749,-86.551186&panoid=uikMp88Il_RHusggvYDQWw&cbp=12,90,,0,0
Please let me know if I can do additional research on this property for you.
Moontown Airport fly-in Russian wwII fighter
We just picked up the townhouse below as a rental. We are getting decent activity at $795. It’s not on the market for sale but the owner would sell, She is asking $95,000.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114941439
The link below is to the old MLS listing where the current owner bought the house in 2005 for $70,000. Her break even point on a sale would be in the $80,000 range. I don’t know what she would take for the unit but let me know if it interests you.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114941442
The link below is to some foreclosed single family properties that might be worth a closer look.
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