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Market evaluation of Huntsville Alabama homes for sale

Real Estate Broker/Owner with Rosenblum Realty Inc.

March 03, 2012 03:55 AM

Market evaluation of Huntsville Alabama home for sale.

March 3rd, 2012 2:47 PM

Huntsville Alabama

118 TAILWIND COURT has been on market since 02/10/12. It is listed at $319,900 / $113 per square foot. It sold to the current owner at $329,900 / $114 per square foot in 2009.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7115377130

The link below is to a summary of MLS activity in the neighborhood since 02/01/11. There were two sales in the neighborhood. They sold at $106 and $95 per square foot in 65 and 167 days. They sold at an average 6% under list.

http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7115377135

At the average $101 per square foot this,839 sf house would be $287,000 $32,000 under the list price. While the seller is already taking a substantial loss, the property is still priced well above the the highest recent sale.

The purchase loan was for $223,000. Unless I am missing a second mortgage seller wouldn't have to bring money to closing at a sale at $287,000.

http://probate.co.madison.al.us/LoadImage.aspx?sk=20090901000568800&format=PDF&ref=c930192f-b508-4239-b77c-ae26e6cdc586