huntsville mls

Huntsville MLS search; Market review Huntsville / Madison rental homes October 17, 2011
October 17th, 2011 5:53 PM



The link below is to the archived Huntsville MLS listing where you purchased the house. The listing shows 1,750 square feet.

Huntsville Alabama Downtown

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=71783487346382929

The link below is to a summary of MLS rental activity in the neighborhood since 01/01/10.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114885568455

The average rental amount was $1,200. Given we are past the peak rental season, it might be difficult to rent at that level or anything above.

The link below is to a summary of active rentals and rented homes in the Huntsville MLS search $1200 $1300 price range.


Huntsville MLS search; Market review Huntsville / Madison rental homes October 17, 2011
Filed under: huntsville mls,huntsville mls search —
Tags: Huntsville MLS, Huntsville MLS Search

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114889923

valley mls search

Valley MLS Rural homes for sale in north Alabma
October 17th, 2011 12:30 PM



While the type of home you are looking for is a little rare, buyers for these types of homes are even more rare. Most homebuyers are looking for a home in a subdivision as close to work as possible with good schools for their kids. Most buyers want to stay in the city.We can also make offers contingent on your viewing and approving the property.


> 1. 2737 County Road 8 (834512) – This is hands down our favorite by far.

My main concern on this home it the unknown regarding the surrounding area. As mentioned earlier the listing agent didn’t map the house’s location and Google maps doesn’t find the exact location. Google hasn’t driven to the property location so there is no Google street view to help search. I tried searching the Jackson County tax records, found the record of the property but when I tried to link from the record to the tax map showing the property boundaries received an error message. I carefully studied the maps but still couldn’t find the exact house.

I did email the listing agent and asked her to place the house icon on the MLS map directly on the house. I also asked the additional information you requested.

In the meanwhile Google gives an approximate drive time of 55 min from the general location of the house to Redstone Arsenal.

http://maps.google.com/maps?saddr=2737+COUNTY+ROAD+8,+WOODVILLE,+AL+35776&daddr=I-565+W&hl=en&ll=34.681782,-86.421204&spn=0.253525,0.662613&sll=34.69521,-86.42163&sspn=0.253483,0.662613&geocode=FZAkEgId3c3c-il9G4-bafRhiDH_yqf1pBNysA%3BFRqvEQId8MvV-g&vpsrc=6&mra=dme&mrsp=1&sz=11&t=h&z=11


The link below is to the valley mls listing where the current owner bought the house on 9.15.09 for $220,000.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114889482

The house has been on market since 01/16/11 and was listed for rent for awhile.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114889483


> 2. 367 Berry Road (945564)

The link below is to the listing. The square footage of the house is shown on this and every listing in the third section down on the left side of the page. In this case the square footage is 3,300. ( Square footage should only included heated area)

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114889485


The link below is to the Google satellite image of the house. You can see there there is a house to the north.

http://maps.google.com/maps?q=367+BERRY+ROAD,+SCOTTSBORO,+AL+35769&hl=en&ll=34.598408,-86.070821&spn=0.000991,0.003605&sll=37.230328,-79.013672&sspn=0.001918,0.005177&vpsrc=6&hnear=367+Berry+Rd,+Scottsboro,+Alabama+35769&t=h&z=19



The link below is to the Google street view of the house. You can use the controls to do a neighborhood fly through.

http://maps.google.com/maps?q=367+BERRY+ROAD,+SCOTTSBORO,+AL+35769&hl=en&ll=34.598772,-86.0711&spn=0.000035,0.028839&sll=34.59879,-86.063719&sspn=0.007931,0.020707&vpsrc=0&hnear=367+Berry+Rd,+Scottsboro,+Alabama+35769&t=h&z=16&layer=c&cbll=34.598776,-86.070978&panoid=Ap3SUIr7H2j9dK2eSyheRw&cbp=12,122.55,,0,0

The house is very close to the marina.

http://maps.google.com/maps?saddr=Ed+Hembree+Dr&daddr=367+BERRY+ROAD,+SCOTTSBORO,+AL+35769&hl=en&ll=34.588987,-86.084919&spn=0.031726,0.115356&sll=34.586549,-86.07655&sspn=0.015864,0.041413&geocode=FaSpDwIdXX_e-g%3BFWLvDwIdsbXe-ilvTgxhE-VhiDFsCYSd8bEIEQ&vpsrc=6&mra=dme&mrsp=0&sz=15&t=h&z=14

Its about 46 min to Redstone Arsenal.

http://maps.google.com/maps?saddr=I-565+E&daddr=367+BERRY+ROAD,+SCOTTSBORO,+AL+35769&hl=en&sll=34.707187,-86.391678&sspn=0.253447,0.662613&geocode=FQKVEQIdin3V-g%3BFWLvDwIdsbXe-ilvTgxhE-VhiDFsCYSd8bEIEQ&vpsrc=0&mra=dme&mrsp=0&sz=11&t=h&z=11

The house has been on the market since 01/07/11, originally listed at $225,000 and has had two price reductions to the present $194,900.

> 3. 170 Rocky Road (435879)

We have done some detailed research on this house already. I will forward your general questions to the listing agent. Would you like me to preview the house for you?

> 4. 204 Coveview Road (854442)

Satellite image;
http://maps.google.com/maps?q=204+COVEVIEW+ROAD,+GURLEY,+AL+35748&hl=en&ll=34.665189,-86.377366&spn=0.001981,0.00721&sll=37.0625,-95.677068&sspn=31.28862,84.814453&vpsrc=6&hnear=204+Coveview+Rd,+Gurley,+Alabama+35748&t=h&z=18

Google street view.

http://maps.google.com/maps?q=204+COVEVIEW+ROAD,+GURLEY,+AL+35748&hl=en&ll=34.665088,-86.376722&spn=0.000035,0.020707&sll=34.699284,-86.398544&sspn=0.253471,0.662613&vpsrc=0&hnear=204+Coveview+Rd,+Gurley,+Alabama+35748&t=h&z=16&layer=c&cbll=34.665201,-86.376723&panoid=bQHpmLrrLsnLb7Jj2nzogA&cbp=12,261.34,,0,0


31 min to Redstone Arsenal.

http://maps.google.com/maps?saddr=I-565+E&daddr=204+COVEVIEW+ROAD,+GURLEY,+AL+35748&hl=en&ll=34.719604,-86.503601&spn=0.253409,0.662613&sll=34.714242,-86.555443&sspn=0.126713,0.331306&geocode=FVWVEQIdA4DV-g%3BFXPyEAIdlvzZ-imPEJFMHRtiiDFF1bcoK-fF8g&vpsrc=6&mra=dme&mrsp=0&sz=12&t=h&z=11

The house has been on market since 08/03/11 with no price reductions. The link below is to the listing where the current owner bought the house 3.31.01 for $175,000 with seller paying $3,000 of his closing costs. Note that there are different photos on the listing.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114889584



> 5. 117 John Walker Drive (956808)

Has been on market a LONG time. The owner put in on the market 08/31/09 and list the house in foreclosure. It was listed as bank owned on 10/02/11 went under contract on 10/07/11 but then came back on the market a week later on 10/14/11. I never showed the house but had clients drive by in 2010 as a candidate for them. Based on the location they opted to pass.

At the satellite image below the house is the one with the fence. The four buildings behind it are very low income apartments. We managed one of the apartments several years ago but stopped because the owner wouldn’t maintain them and we had problems finding stable tenants. I strongly encourage you to pass on this property.

http://maps.google.com/maps?q=117+JOHN+WALKER+DRIVE,+HARVEST,+AL+35749&hl=en&ll=34.796347,-86.767107&spn=0.001978,0.005177&sll=37.0625,-95.677068&sspn=14.20984,63.193359&vpsrc=6&hnear=117+John+Walker+Dr,+Harvest,+Alabama+35749&t=h&z=18


As soon as I get additional information from the listing agents on the other properties I will let you know. In the meanwhile can I preview of provide any additional information on any home for you.

Valley MLS Rural homes for sale in north Alabma October 17, 2011
Filed under: valley mls —
Tags: Valley MLS

valley mls market value research

Please see the listing agent’s response ;



Thank you for showing XXXXXXX to one of your clients.

I understand your concerns and will try to address them for you.

First, the square footage measurements were taken from the building plans for the house which is less than the home when the brick is added to the actual construction. This adds a small amount when the house is actually measured for an appraisal for example. The new measurement is the measurement of the actual structure.

This home is much superior to any comps in the subdivision. The sellers had an appraiser evaluate the house and indicated it would hold up very near the $xxxx per square foot. It is understood that any offer would be constrained by the appraisal being at least the sales price.

Relocation companies have changed the way they operate in the past year or so. They do not assume ownership of the property any longer. They let the owners negotiate the best deal they can and then present that contract to the Relo company.


Her explanation of the additional square footage does seem reasonable but if it is critical to you, we can pull a tape on the house.

I will ask to see the comparables that the seller’s appraiser used. My impression is that the listing agent is getting the information from seller and at this point I have my doubts about the quoted appraisal. Unless there were a refinance or seller wanted a price opinion there wouldn’t be a reason to pay an appraiser.

The appraisal could have been anything from a realtor fluffing numbers to try and get a listing to an appraiser trying to justify a refinance. Again we don’t want to roll the dice and expect the appraiser from your loan to cap the sales price. Appraisers start with the sales price and their goal is to justify that price.

Regarding the statement; This home is much superior to any comps in the subdivision.

The current owners bought the house from the builder xxxxfor $xxxx/ $xxx psf. The house was on market xx days. The builder was xxxxxxxx
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=717532894238583020932025

The following link is to a summary of Valley MLS sales data from xxxx to xxxxin the neighborhood of homes built by XXXXXX.

The subject property sold at $xxx/ $xx psf. in xx days. The average sold price was $xxxx psf with a range of $xxxpsf to $xxx psf. The average days on market were xx days with a range of 0 to xxx days.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=855728477372924

While the subject home did sell a bit above the average sold price of $xxx psf at $xxx psf, it was below the highest sale of $xxx psf. At xxdays on market it did take longer than the average time to sell.

Just based on the sales data, I don’t see anything to indicate this home is head and shoulders above the rest of the neighborhood.

Looking closer at the original listing where the current owners bought the home I don’t see any indication that the home is superior to others in the neighborhood. If it was a former model home or the listing stated custom upgrades there might be case for it’s superiority but there is no indication that it is any different from other homes in the neighborhood.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114889583459585

The link below is to the full Valley MLS listings of the contemporary sales of the original sale of this house. Again from the narratives and photos I don’t see where they are dissimilar from the subject home. I don’t see where the original listing commented on xxxx and there was only one photo on the listing of the front of the house. Even if the current owner xxxx the cost and value of that improvement is in the hundreds and not thousands of dollars.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=77573649329483247

We will see if the seller does have a viable appraisal and comparable sales but any appraiser will look at the same data that we have. There are enough comparable sales in the neighborhood where an appraiser should not have to look outside the neighborhood for comparables.

Regarding the statement;

Relocation companies have changed the way they operate in the past year or so. They do not assume ownership of the property any longer. They let the owners negotiate the best deal they can and then present that contract to the Relo company.

While he is not stating that there will be a relocation company involved the short answer for him would have been to state that none was involved. I will get him to clarify.

In the last two relo sales I did this summer the relo company did take ownership. I have did have on transaction last fall where the relo company acted as a third party approving the deal negotiated by seller.

In summary; In the absence of data to the contrary I think the house is priced above what the market will bear. We can continue to dance with the listing agent but he is experienced and keeping his cards close to his vest. The only way we will really know what seller / the relocation company (if any) are willing to do is to tender an offer.

In drafting an offer my usual track is to set the sales price somewhere near the average sold price and ask for substantial seller contribution to your closing and pre-paid costs.

We would also ask for a home warranty and make the offer contingent on a home inspection and radon testing.

The owner may have a negative emotional response since this offer is under his list price. We would need to prepare the seller for our much lower offer by presenting the sales data above to the listing agent to see if the seller is willing to review the facts.

Given a relo company may be involved the seller my not have an emotional attachment. We can make educated, informed offers but experience has taught me that we never know what the other side is thinking.

On one hand, I have made what I thought were reasonable offers rejected harshly and the seller refused to consider subsequent offers. On the other hand I have had what I thought was very low offers happily accepted without question by sellers.

I will ping the listing agent with the data above and ask him to let us know if a relocation company is involved. Pending his answer please sleep on the data and then let me know your thoughts.

We are in a buyer’s market and you do have time. In my experience in working with buyers, the next house is always better than the one that got away.

I questioned the small change in square footage and that the price seems substantially above the comparable sales.

If the house does go to a relocation company hired by seller’s employer the relo company may lower the price to be in line with the comparables. It may be worth looking at the house and if it is still a candidate keep an eye on it.

I have a couple interested in XXXXXXX who have questions.The original listing and tax records show the house as XXXXsf where the current listing shows XXXXXXsf. Was there an error in what the builder listed on the original listing?

The link below is to a summary of all Valley MLS activity in the neighborhood since xxx The average sold price was $xx psf with a range of $xx to $xx psf.


My buyers are concerned that the list price of $xxxxx psf is substantially above the highest recent sale. Even if they were willing to offer something near list price their lender’s appraiser would be looking at the same sales data.

Is there a chance that the property will be taken over by a relocation company later and that there will be a new price more in line with the comparables?

Valley MLS; Research of Huntsville / Madison market values October 15, 2011
Filed under: valley mls —
Tags: Valley MLS

valley mls search

Valley MLS search rural property with land October 14, 2011

On 170 ROCKY ROAD; I can preview the home for you getting additional photos, a ketch of the floor plan and provide my impressions. I can do an initial check of accessible portions of the foundation, acess the laundry closet and see if there is room for expansion. Please let me know.

The house has rights to a small neighborhood lake and is close to Madison County Public Lake a stocked lake with bass, bream, catfish and in winter trout in the spring fed pond. It’s trolling motor only.

http://maps.google.com/maps?q=170+ROCKY+ROAD,+GURLEY,+AL+35748&hl=en&ll=34.783919,-86.332111&spn=0.063303,0.233803&hnear=170+Rocky+Rd,+Gurley,+Alabama+35748&t=h&z=13&vpsrc=6


The house is near the skyline management area where there is good deer hunting. There is probably land near / adjacent to the house where you could hunt as well.

http://maps.google.com/maps?q=170+ROCKY+ROAD,+GURLEY,+AL+35748&hl=en&ll=34.783919,-86.332111&spn=0.063303,0.233803&hnear=170+Rocky+Rd,+Gurley,+Alabama+35748&t=h&z=13&vpsrc=6


The house is about 45 min. to Lake Guntersville where there is excellent bass fishing and several annual bas tournaments.

http://maps.google.com/maps?q=170+ROCKY+ROAD,+GURLEY,+AL+35748&hl=en&ll=34.677264,-86.156158&spn=0.507075,1.870422&hnear=170+Rocky+Rd,+Gurley,+Alabama+35748&t=m&z=10&vpsrc=6

The joke photo below is a bass my son caught at North Saughty on Guntersville Lake. ( It was still fighting and he wouldn’t stand any closer.)



Big fish at Guntersville Lake


We broadened our Valley MLS search a bit geographically and while we may be pushing your target commute found a few other properties that may be worth a closer look.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114880505

367 BERRY ROAD in Scottsboro is within a mile of the Goosepond Marina on Guntersville Lake.

1610 HOOD AVENUE is also close to the marina but the steep lot concerns me.

2737 COUNTY ROAD 8 is in Skyline ( Skyline management area for hunting.) There is a pond and it has just over 9 acres. It’s on a ridge, has views and is not far from Guntersville Lake




Google maps can’t find the exact location and the listing agent didn’t precisely mark the location on Valley MLS . I tried calling her for clarification but didn’t get an answer or voicemail. We do need to be careful to view the surrounding area. Rural homes may have mobile homes or chicken / hog farms nearby.

204 COVEVIEW ROAD is closer to town, has a pond but may be a little rustic.

Filed under: valley mls —
Tags: Valley MLS, valley mls search
Valley MLS search; Rural homes with land
October 14th, 2011 4:58 PM

Valley MLS search

Valley MLS; Research Huntsville area homes
October 14th, 2011 1:11 PM
Valley MLS; Research Huntsville area homes October 14, 2011
The link below is to the listings for the homes you asked about from Valley MLS.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114880254

Huntsville flood map
Let’s do a little preliminary research so we understand more about the homes before we view them. The volume of information can be a little overwhelming but I’ve found we can often save our client’s time buy researching candidate homes before visiting them.
100 ABERDEEN LANE is listed at $214,900 / $ 88 per square foot. It has been on the market since 08/06/11 with no price reductions. Please note that the L shaped floor plan with the garage adjacent to the front door is not appealing to a number of buyers. This could make an eventual re-sale more difficult.
I checked the flood maps and the house is almost 3,000 feet from the nearest flood zone.
The link below is to Google’s satellite image of the house. While it is in a cul-de-sac, has a large yard and a fence, it does back up to Balch Road. There is already significant traffic on Balch Road and when the new Madison Hospital is completed at the intersection of Balch and Highway 72, traffic will increase. There are also long term plans to extend Balch Road to I 565 and add an interchange. At that point the traffic will increase substantially.
http://maps.google.com/maps?q=100+ABERDEEN+LANE,+MADISON,+AL+35758&hl=en&ll=34.742018,-86.766935&spn=0.001979,0.00721&sll=37.0625,-95.677068&sspn=31.28862,84.814453&vpsrc=6&hnear=100+Aberdeen+Ln,+Madison,+Alabama+35758&t=h&z=18
The link below is tot he Google street view of the house where you can use the controls to do a fly through of the neighborhood.
http://maps.google.com/maps?q=100+ABERDEEN+LANE,+MADISON,+AL+35758&hl=en&ll=34.741771,-86.766737&spn=0.000035,0.028839&sll=34.697026,-86.76693&sspn=0.06337,0.230713&vpsrc=0&hnear=100+Aberdeen+Ln,+Madison,+Alabama+35758&t=h&z=16&layer=c&cbll=34.741777,-86.766728&panoid=x2UrE6JKLI286bs130c0qQ&cbp=12,270,,0,0
The links below are to data and rakings of the schools that serve the home. With the completion of the new Patriot High School on County Line Road next year the high school districts will shift. The new districts have not been posted on the Madison City Schools website nor announced yet.
http://www.schooldigger.com/go/AL/schools/0000802097/school.aspx
http://www.schooldigger.com/go/AL/schools/0000801798/school.aspx
http://www.schooldigger.com/go/AL/schools/0000800831/school.aspx
The link below is to a summary of Valley MLS activity in the neighborhood since 10/01/10. Because the homes are so dissimilar, we can’t determine the market value of the subject home from this limited data but we can get a sampling of what the neighborhood looks like. If we get to the point of making an offer we will research sales of similar homes outside the neighborhood but in the same area.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114880265
The house was also listed for sale with a different owner, MAI KIM LE from 06/27/10 to 07/11/11 when the listing was withdrawn and relisted with the current owner ERIC L BYRD, During that period the house was listed at $255,000.
From 09/12/06 to 02/05/07 the house was listed at $231,000 with ERIC L BYRD shown as the owner. The listing agent remained constant through the three listing periods above.
From 09/12/06 to 10/16/06 the house was listed for $230,000 with ERIC L BYRD shown as the owner. The change in owners may be due to divorce.
128 MOUNTAIN VIEW LANE is listed at $249,000 / $94 per square foot. It has been on market since 08/24/11 with no price reductions.
The link below is to the listing where the current owner bought the house 07/12/05 for $205,000 / $85 per square foot with that seller paying $2,953 of purchaser’s closing costs.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114880278
Assuming normal costs, purchaser’s break even point on a sale is in the $222,000 range.
There have been no sales in the neighborhood since 10/01/10 and we will need to search outside the neighborhood for comparable sales to estimate market value. The link below is to a summary of MLS activity in the neighborhood since 10/01/10.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114880281
The house is not near any flood zone.
The link below is to the Google satellite image of the house. It is far enough from Hughes Road that traffic noise should be minimal.
http://maps.google.com/maps?q=128+MOUNTAIN+VIEW+LANE,+MADISON,+AL+35758&hl=en&ll=34.73368,-86.744007&spn=0.00099,0.003605&sll=37.0625,-95.677068&sspn=31.28862,84.814453&vpsrc=6&hnear=128+Mountain+View+Ln,+Madison,+Alabama+35758&t=h&z=19
The link below is to the Google street view.
http://maps.google.com/maps?q=128+MOUNTAIN+VIEW+LANE,+MADISON,+AL+35758&hl=en&ll=34.733872,-86.744732&spn=0.000018,0.01442&sll=34.733539,-86.744818&sspn=0.006295,0.006295&layer=c&cbp=13,191.58,,0,0&cbll=34.733868,-86.744736&hnear=128+Mountain+View+Ln,+Madison,+Alabama+35758&t=h&z=17&vpsrc=0&iwloc=A&panoid=2li7PaFZjXHM34ZGdQ0s6w
The links below are to school data and rankings.
http://www.schooldigger.com/go/AL/schools/0000800851/school.aspx
http://www.schooldigger.com/go/AL/schools/0000800495/school.aspx
22 NANDINA LANE in Lake Forest is listed at $29,900 / $100 per square foot. It is bank owned and has been on market since 05/20/11 with no price reductions. The house has been a rental.
Please note that the property is served by the Huntsville City school system which is having substantial financial problems. While the elementary and middle schools that serve the home are only fair now, there are signs that Williams Elementary and Middle Schools are improving as the area grows. Columbia High School has consistently gotten low scores even though it is an newer school.
http://www.schooldigger.com/go/AL/schools/0180001796/school.aspx
http://www.schooldigger.com/go/AL/schools/0180002146/school.aspx
http://www.schooldigger.com/go/AL/schools/0180001651/school.aspx
The link below is to a summary of MLS activity of similar sized homes in the neighborhood since 10/01/10. (There are much larger homes in the neighborhood.) The average sold price was $94 per square foot with a range of $84 to $118 per square foot.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114880300
The house is about 2,000 feet from the nearest flood zone.
The link below is to the Google satellite image of the property location pre-construction. It does back up to a $150,000 – $190,000 neighborhood but should be little effected by that neighborhood. There is no Google street view of this location yet.
http://maps.google.com/maps?q=22+NANDINA+LANE,+HUNTSVILLE,+AL+35824&hl=en&ll=34.637092,-86.722587&spn=0.003963,0.01442&sll=37.0625,-95.677068&sspn=14.20984,63.193359&vpsrc=6&hnear=22+Nandina+Ln+SW,+Huntsville,+Alabama+35824&t=h&z=17

Filed under: valley mls — Tags: Valley MLS

Valley mls research

Valley MLS research; CEDAR SPRINGS STATION
October 13th, 2011 4:16 PM
The house looks great and the open space at the back will provide the privacy we have been looking for.

In researching I found that both Google and the listing don’t map the house correctly. I found what I believe is the house as being just to the left of the house with the pool in the cul-de-sac. Checking the flood maps the house is outside the flood zone that is to the right of the cul-de-sac.
Given the flood zone to the east and the lack of road frontage the open space at the rear might be safe from development.
I checked ownership of the property behind the house and is is owned by the City of Madison. It may be that the developer of CEDAR SPRINGS STATION gifted the property to the city to avoid paying taxes on unbuildable land.
http://www.emapsplus.com/ALMadison/report.asp?County=ALMadison&PID=1604180000007008
The house has been on Valley MLS since 08/07/06 with no price reductions. It is listed at $380,900 / $116 per square foot.The link below is to the archived MLS listing where the current owner bough the house from the builder on 12/18/06 for $379,900 / $118 psf. with the builder paying none of purchaser’s closing costs.
Note the original listing showed the house as 3,225 sf where the current listing shows 3,275 sf. Tax records show 3,225 sf.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114875634
The link below is to a summary of all Valley MLS activity in the neighborhood since 10/10/10. The average sold price was $91 psf with a range of $77 to $97 psf.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114875637
While the seller is already taking a substantial loss at the list price. $116 psf is substantially above the highest recent sale. Even if we were willing to pay something near their list price, lender would look at the same sales data and not approve a loan if the property doesn’t appraise for the contract price.
At the highest sold price of $97 psf and assuming they didn’t fudge on the 3,275 sf. the house would be worth something in the $318,000 range.

Valley MLS : Research; Cedar Springs Station October 13, 2011
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Tags: Valley MLS

huntsville mls search

Valley MLS / Huntsville MLS search; All the properties listed in Canebrake October 12, 2011
Filed under: huntsville mls search,valley mls — Tags: Huntsville MLS Search, Valley MLS
Huntsville MLS search; All the properties listed in Canebrake
October 12th, 2011 11:26 AM
The link below is to a Huntsville MLS search of all the properties listed in Canebrake owned by HERITAGE HOMES.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7110143765
There were only two sales. The first actually sold above list price. (They possibly included purchaser closing costs and / or some custom work in the sales price.) The second sold .7% under list price. Both sales were pre-crash in 2007.
The house is also listed for rent at $2,200.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7110143768
The two sales in better times doesn’t really help us establish a history of how much the builder will negotiate so we will need to dig deeper. The website at the link below confirms this builder has other developments in Madison County.
http://www.heritagehomesal.com/aboutheritagehomes.aspx
The builder had no sales in Cliffs Cove, Heritage Provence, ABBINGTON DOWNS, WOODFIELD, Lake Forest, WHITEHALL, in the past 12 months nor any active listings.
They have two active listings but no sales in Stratford Square.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7110143779
All told there are three Valley MLS active listings and one pending sale. I had hoped to see dozens of active listings and a history of recent sales. From the limited data it doesn’t look like the builder is severely overextended.


The link below is to all active listings in canebrake over 2,500 sf.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7110143879
The link below is to all sales in canebrake if the past 12 months.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7110143882
The average sold price was $112 psf with a range of $95 to $135 psf. The subject property is listed at $146 psf. ($599,000) Based on the sales, I think the house is overpriced especially considering the current market.
At 4,100 sf in the house and the average sold price of $112 psf the house would be $459,000. At the highest sold price of $135 psf it would be $553,000. At the lowest sold price of $95 psf it would be $389,000.
Another approach is to determine what you can afford, offer that amount and be prepared to move on to the next property if seller is not able to negotiate to near what you can afford.
If you were considering making an offer on this property my recommendation would be to ignore the premiums offered by the seller and focus on the house. The membership dues is something the builder probably had to pay anyway as a part of the neighborhood covenants and we don’t have any idea of what the value of the golf cart is.