Two New Subdivisions Approved for Huntsville (Madison: for sale, rent, new home)

[Diffy Q]

Also, your area seems to have a lot of new consruction. Really nice new construction in price ranges for every kind of buyer. That has to be somewhat hard on the resales. Why would someone buy a house that needs updating, when down the road there are brand new houses? Not a criticism, just a thought.

[HB2HSV]

Diffy Q, coming from southern california last year we had the same observation as you do on the Huntsville's real estate.

Because of the low cost of housing here, we chose to kept our house in southern california while able to purchase a modest 3,000 sq ft plus home here in the city of Madison. We are happy with our choice and I was able to do something new that is start planting trees & start a vegetable garden. As result, I am leaner and more physically fit than ever (just ask my wife ).

Coming from so. cal., the winter here is something to get used to. But coming from NoVa, the winter here is practically warm for you.

Good luck with your move next spring.

[friday13]

Originally Posted by Diffy Q

That has to be somewhat hard on the resales. Why would someone buy a house that needs updating, when down the road there are brand new houses? Not a criticism, just a thought.

With new-construction be mindful of the builder-controlled HOA issues that Ionlife ( I know who you are, d) is making newcomers aware of, and also structural problem with new construction: slab vs. crawlspace, building in swampland during the boom, sinkholes, settling, limestone (we have a county named after that). As some have said: they are not building houses like they used to (everywhere). But boy, do I love the smell of new home !

[cornutt]

Originally Posted by rnc76

The nicer areas of any of those cities are no cheaper than comparable areas of Huntsville. I think I could safely say that the nicest areas of Nashville and Birmingham are considerably more expensive $/sqft than anything in Huntsville. I can't speak for Knoxville because I don't know much about it.

I know for a fact that the nicest places in the B'ham area are in a price range that Huntsville has never seen. And the job market there is hurting because of the incompetent city government.

[Diffy Q]

HB2HSV - Thank you. We are looking forward to it. My DH was with an agency that was BRAC-ed to Fort Meade, Maryland. We were willing to relocate to Annapolis until they decided not to pay relocation. The new location is within 50 miles, so by statute, they don't have to pay for your move. We thought the commute from Fairfax County to Anne Arundel County was too much like torture. DH looked for another job and when he came across this one, we went for it. We have always thought that Huntsville was a nice place. We are also considering keeping our house here in NoVa.

friday13 - I know all about the builder-controlled HOA issues. Living here for the past fifteen years and being a former controller for a commercial real estate firm, I knew to ask for HOA documents. What caught me by surprise were the Covenants and Restrictions. Unbelievable. We have taken a fair number of new/newer subdivisions off of our list because of them. I have talked with a couple of the founders of The Alabama Concerned Homeowners Alliance. They are to be applauded for their efforts on this issue. www.alabamahoa.org

[DvlsAdvc8]

Originally Posted by ionlife

We're a single income family--transplanted from NoVA. Most of our friends were single income families as well. Very few dual incomes.

But I do know that the salaries here are on par to the DC salaries. Probably like hazard pay... no one would come otherwise

And you are how old? We are in our early 30s and like I said - didn't know a single married couple our age that was single earner.

[Elizabeth_G]

HB2HSV: Okay, here is new construction in Madison, $150-$200,000 range. 7.07 month supply of new construction or under construction. Buyers market. List to sell price is 99.82%. I suspect and almost guarantee those numbers are going to get much smaller after this month and November, with the first time home buyer push coming to an end. We have had a low of a 2.5 month supply, a CLEAR sellers market. Breland can't build them fast enough. You know the old saying "build them they will come"...they certainly have! They have closed 23 homes this year already. All of those have been since spring. Currently, Breland has 14 under contract. Talk about a bang up year. That's just one subdivision....so, you were right HB2HSV!

In an earlier post here, someone mentioned the Nashville market being more affordable than our market...in some price ranges, yes they are. In others, not at all. Their market has been hit hard over the past few years. (I know...I was a Realtor there for 7 years before relocating here). My friends have seen business starting to pick up, but there are a great deal of foreclosures there. What a great time to buy in Williamson County right now! There are some amazing deals on upper end homes.

[Elizabeth_G]

Diffy Q-Some buyers just prefer the character that may exist in an older home, versus new. (trees, larger lots, etc). Typically, the resales can be much less than a new construction, depending on the age of the home, location, etc. I have seen some amazing remodels, however, that were much more than new construction. I think we have a nice mix for all buyers.

I lived in Alexandria YEARS ago (showing my age now...I lived there in 80-81) Worked for a transportation consultant downtown. My parents lived in Watergate, then built a home on the outskirts...closer to my Mom's job. She worked for St. Luke's Institute in Maryland for years doing psychological testing. They left the NOVA area about 9 years ago, to be closer to us. I've since moved my Mom here, after my father passed away.

Housing was out of this world then, compared to other cities. Oh, the good ole days...young, dumb, running wild and having a great time doing so! We went downtown too many nights during the week after work. Had a great time in Georgetown. Loved it!

[Diffy Q]

Elizabeth G - Nowadays, Adams-Morgan is where a lot of the young people go for a good time. There are a lot of restaurants and clubs. We were in Huntsville over Columbus Day weekend and looked at some older resales in and around Jones Valley. We are just not sure we want to remodel again having just been through it. Instead, we are thinking 0 - 5 years old in a subdivision that has been completely turned over to the homeowners.

[Elizabeth_G]

Diffy Q- I don't remember Adams-Morgan. I'd be with the geriatric bunch now, lol.

The Jones Valley area is gorgeous, isn't it? That specifically is the area where I have seen some gorgeous, quality remodels. Love it!