Homes for sale huntsville Huntsville Alabama Real Estate

Huntsville AL homes for sale / Let's look at recent MLS activity in the neighborhood

Let's look at recent MLS activity in the neighborhood to see what the market is doing and what we could expect the market to bear for your house.

The link below is to all MLS activity in the neighborhood since 06/01/10. The average sold price was $85 per square foot with a range of $80 to $95 per square foot. The average days on market was 102 days. There were three listings that were withdrawn and two listings that expired without selling.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114516696

At the average sold price of $85 per square foot we could expect your 1,995 sf house to sell in the $192,000 range.

The link below is to the 34 active listings in the Harvest / Monrovia area that are listed in the $185,00 to $195,000 range. I included the listing histories. It's a little hard to read the histories; go to the status column "STA" and look for the first active "ACT" In general that will be the date that the house was most recently listed for sale.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7114516706

The competing properties include new construction and some houses that are larger than yours.

Huntsville Houses - Huntsville Alabama MLS search, Automated Real Estate Search, HomeValue and Real.Estate Market Updates, Huntsville Alabama area Rental Homes, Property Management.

While Huntsville's real estate market is showing signs of improvement. It is still a buyer's market with lot's of available properties. In order to sell we need to price the house very aggressively or to somehow set ourselves apart from the competition.

The MLS archive shows you bought your house for $155,000 / $81 psf with seller paying $1,180 of your closing costs. Assuming standard costs and broker fees, a 2,000 seller contribution to purchaser's closing costs and a $480 home warranty for purchaser, your break-even point in a sale will be in the $168,000 / $88 psf range. About 94% of anything over $168,000 would be profit.

If we aggressively priced the house below the average sold price of $85 per square foot / $192,000 we might expect a reasonably fast sale. The lower the list price the faster we could expect a sale.

Another option might be to offer the house both for sale and as a lease purchase. We have sold several houses using a lease purchase when other houses in the neighborhood had been on market for over a year without selling. Huntsville AL homes for sale

http://www.huntsville-homes.com/LeaseOptionLeasePurchaseforSellers

We could also continue to rent the house and wait out the market. Given the current demand for rentals we could probably push the rent up another $25 to $45.

I do have one investor who purchased a house in the neighborhood last year. The house has performed well as a rental and he might consider another purchase in the neighborhood. He had indicated that he might be looking for another property in a few months. We can also approach the tenant and see if they have the wherewithal and interest in purchasing.

I hope this information was helpful and please let me know your thoughts on how you would like to proceed.

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, Property Management.