Huntsville Alabama Real Estate
Huntsville homes for sale HUD property July 29, 2011
Tags: Huntsville AL MLS homes for sale real estate, huntsville homes for sale
Huntsville homes for sale / HUD properties
It sounds like you have done your homework on loans! Yes this property should qualify for the programs you mentioned. Who are you using as a lender?
By blind offer, I mean that we don’t negotiate and we don’t have any idea of other offers. HUD sales are difficult and HUD makes lots of mistakes. I’ve heard of them accepting two offers on the same house and then go to closing. They just choose to ignore the other buyer. Paperwork gets returned for the most minuscule error or action that doesn’t conform to their (sometimes unstated) procedures.
HUD home aren’t always good buys, we have to do the research. We have to carefully check the property condition and review the HUD ordered inspection. We can’t make our offer contingent on an inspection. As an example of problems with HUD properties the inspection should be included in the photo section of the listing but it’s not there. I checked on the HUD website and searched on both the city and the case number ( 011-671005) but the house is not listed.
Huntsville homes for sale / HUD properties
https://hudhomestore.secureportalk.net/HUD/PropertySearchResult.aspx?zipCode=&city=hazel%20green&county=&street=&sState=AL&fromPrice=0&toPrice=0&caseNumber=&bed=0&bath=0&buyerType=0&Status=0
Even if there were a home inspection, i don’t trust the lowest bidder inspector. From the HUD inspections I have seen the inspector just run through a checklist and does some paperwork.
The power and water are off so we cant do our own checks.
I’m not discounting the house but you need to know what we are up against.
Even if there were a home inspection, i don’t trust the lowest bidder inspector. From the HUD inspections I have seen the inspector just run through a checklist and does some paperwork.
The power and water are off so we cant do our own checks.
I’m not discounting the house but you need to know what we are up against.
The house is listed at $79 psf. I had look back to 2008 to find a sale. I am working while traveling and for some reason can’t capture the link to show you the listings. I will try again when we get home.
If you want to see the house before Tuesday, please contact my trusted colleague Leanne Cole at 256-656-4151 / leannjcole@hotmail.com
So since it is a HUD owned home, they will only accept blind offers house unseen? In general, what percentage of the house price do people usually offer or how low of an offer would you say the bank would accept? Thanks. I am a first time home buyer. Is this house eligible for the fannie mae/freddie mac homesteps or homepaths foreclosure incentive that is available right now? Also, can you use a usda rural loan on a foreclosure?
This is a Housing and Urban Development (HUD) foreclosure. I haven’t see the house yet it’s only been on the market since 07/13/11. At $110,000 / $79 per square foot its not the lowest price house in the neighborhood.
this is a HUD property we would have to submit a blind bid and wait for an answer. There is a lot more paperwork and waiting involved with HUD properties. We might be able to find something better on the open market.
Do any of the houses below catch your eye?
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114533802
Have you gotten you financing lined up or can I reccomend someone?
Property Management.
Huntsville AL MLS homes for sale real estate The link below is to a summary of sold properties and expired listings (They didn’t sell.) in your neighborhood since 01/01/08. We included only properties that are similar in age as your house.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718929401
The average sold price was $97 psf (per square foot) with a range of $92 to $97 psf. The average days on market was a little long at 145 days. Having only two sales is really not enough data and both of these properties are on busy streets making them less attractive to buyers. There were two listings that expired without the properties selling. The average list price was $97 psf. The properties were on the market for 110 days and 135 days.
The link below is to a summary active listings, sold properties and expired listings in the neighborhood since 01/01/10 including properties that are newer than yours.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=4718929408
The average sold price was a little higher at $99 psf with a range of $92 to $104 psf. The average days on market was 101 days.
There are four active listings at an average of $102 psf and a range of $98 to $105 psf. The listings have been on market since 6/19/08, 10/14/09, 10/06/10 and 3/10/09 (This is new construction.)
There were three expired listings averaging $100 psf.
My best estimate is that an eight year old house in your neighborhood would sell in the $97 to $99 psf range. ( $121,000 to $124,000 ). We could expect a sale in 3 to 4 months.
If your house showed extremely well, we might be able to push higher on price. We can’t overemphasize the importance having a house properly prepared for market and stages to sell. The webpage below tells of some of our experiences in preparing properties for market.
http://www.huntsville-homes.com/PRESENTATION
Since you don’t have an urgent need to sell, I would suggest waiting until spring to go on market. We are expecting the market to heat up whnr the current adminstration is out of office . There are a number of new jobs that will be starting to be filled, a lot of the fear associated with the national economy should have subsided.
The link below is to a primer on selling property.
http://www.huntsville-homes.com/LookingtoSell
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My wife our son Jesse and myself moved from the city almost two years ago to off Jordan Road just north of Ryland Pike. We really enjoy it here. our son has lots of friends and we usually have a house full of kids.
Huntsville AL MLS homes for sale real estate – Huntsville Alabama MLS search, Automated Real Estate Search, HomeValue and Real Estate Market Updates, Huntsville Alabama area Rental Homes,
All of the houses you asked about at the link below are still available.>> http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114538803>> Since you are focusing on homes in south Huntsville, I assume you know the> area and south Huntsville is your target area.>> The house at 903 WEATHERLY ROAD concerns me because of traffic. There> will be traffic noise, a lack of privacy and sense of community that homes> within subdivisions will have. If you have children or pets there will be> an element of danger and an eventual resale would be difficult. This house> has been on and off the market since 04/12/10. It was initially listed at> $197,900. The other three houses might be options.>> Even though the houses you asked about were older I wanted to point out> some newer homes and proposed construction homes in south Huntsville.> These homes will have features and floor plans not found in older homes> and should hold their values better.>> http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114538806>> I will be on travel until Monday but will check voicemails and emails. If> you did want to see homes before Monday my trusted Colleague Leann Cole> can assist you . You can reach her at 256.656.4151. I will copy her on> this email as well.>> Once we find a house that interests you we will research market values so> we can make an informed offer. Since we are in a buyer’s market we can> generally expect seller concessions on price and terms. We will make any> offer contingent on inspections including radon testing.>> Please let me know if there is anything else we can do to assist you.
