Thanks for the heads up.

I researched the watts house further on a multi layer mapping feature I recently found http://maps.hsvcity.com/GIS/Disclaimer.aspx

Please see the attached copy of the dual layer map. The subject property is indicated by the red arrow. It is located in flood zone AE flood fringe. It is just higher than the 670 foot (feet above sea level I assume). Part of the house is on and past the 672 foot topographic line.

It looks like the fringe flood zone extends two topographic lines further up to the 676 foot mark. The flood map overlay does not exactly track with the topographic map.

Mu experience with disputing flood designations is limited but in the instance we worked, the surveyor used the level of the first floor as the building elevation. In that case the house was on slab and the top of the slab was the benchmark. As best I can tell the base of the foundation is somewhere around the 672 mark. adding the height of the foundation would give another 2.5 to 3 feet to around 674 - 675.

It might not be possible to have the house removed from the flood zone but it may be worth the effort to investigate further.

I thought the $1,000 flood insurance cost was excessive but the link below is to government published flood rates. If I am reading the table correctly A zones are considered high risk and the premium stated may be correct.

http://www.floodsmart.gov/floodsmart/pages/choose_your_policy/policy_rates.jsp

The current owner Watkins bought the house in 2007 at $365,000 / $166 psf. At it's present price it is listed at $160 psf. The link below is to a summary of recent MLS activity in the neighborhood.

The link below is to a summary of MLS activity in the neighborhood since 05.01.10. The average sold price was $98 psf with a highest sale of $149 psf at 712 WATTS DRIVE.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114315551

The link below is to the full listing of 712 WATTS DRIVE for comparison. It sold in just two days. The listing and selling agent was the same person so she probably had a deal put together before listing the house on the open market.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114315552

My take away on the data is that the subject house should probably sell at around $340,000 to $350,000. The points of concern are the flood insurance, the garage conversion and we would need to check on the square footage creep.

When the house sold in 2004 the listing showed 1,829 sf.
When it sold in 2007 the listing showed 2,202 sf, a 373 sf increase.
The current listing shows 2,337 sf, a 135 sf increase.

From the 2004 listing to the 2007 listing the house went from a two to a one car garage which explains the 373 sf increase. I cant see where the additional 135 sf came from from 2007 to the current MLS listing. at $150 psf 135 sf makes a $20,000 difference in price.

If we do move forward on this house I will ask the listing agent where her square footage came from. We will also pull a tape on the house to get our own estimate.

The link below is to other homes for sale in Huntsvillethat might be candidates for you.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114315555

Please let me know is there is anything else I can be doing for you. We may try to get out of town for a few hours tomorrow but are still juggling schedules. Let me know if you want to see any houses. If I'm not available I will see if Michael can fill in again.


Thank you for doing the research on the two properties.

We have since found out that the Spring Valley home has an extra building on the side of the garage that looks quite unsightly and the Zandale property is not an acre as shown. The back of the house looks right onto the neighbors and is not private, which is not shown in the prictures. We were quite hopeful for that house but it is not large enough in the backyard.

So could you please cancel the showings we will keep looking. We do not want to waste your time with running around.

We really appreciate the research in advance as this does help us alot in making a quicker decision.

Thanks, will be in touch, still discussing the Watts house.

I should be able to show you house late this afternoon.

The link below is to the listings of the two properties you asked about.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114315314

224 SPRING VALLEY COURT is listed at $88 psf and has been on market since 05/14/11. The house went under contract on 06/03/11 and then came back on the market 06/08/11. I suspect there was an issue with financing or on inspection. It is was being offered as a rental at $2,200 from 05/14/11 to 06/08/11.

Seller is listed as Bower, Lamb. Agent Lamb is shown on the listing as Agent / Owner. It looks like Lamb purchased the house 07/22/2005 for $228,300 with seller paying $5,500 of purchaser closing costs. Since the listing agent is the owner their realtor fee is 1/2 of normal. With a $6,000 seller contribution to purchaser closing costs and a home warranty, seller's break even point will be in the $243,000 range. At a $285,000 list price seller has room to negotiate if they choose to.

The link below is to all MLS activity in the neighborhood since 05.01.11. The average sold price was $97 psf with a range of $70 to $107 psf. At a list price of $88 psf the subject house is already aggressively priced.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114315343


403 ZANDALE DRIVE is priced at $139 psf and has been on market since just 06/03/11. There are no previous sales of the house recorded in the MLS.

The link below is to a summary of MLS activity in the neighborhood since 05.01.10. The average sold price was $91 psf with a range of $67 to $135. Since the house has only been on market a few days and there is one supporting sale, one would expect that seller will be less willing to negotiate.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114315346

We are set for 5:00 for 224 SPRING VALLEY COURT.