Property Q&A in Decatur>Question Details

Jennifer McF…, Both Buyer and Seller in Birmingham, AL

Is this house still for sale or has it been sold? Why asking so much compared to other propertues in area?

Asked by Jennifer McFarland, Birmingham, AL Tue Mar 3, 2009

I cannot find it on the GMAC Real Estate site or the movo website, just this one. It looks like a nice property but the price is so inflated from just 5 years ago and I understand the neighborhood has "gone down the tubes" in the last 4 years? Althoug the crime ratio doesn't seem to support that. Can anyone give me info on this specific property and the neighborhood in general?

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This question is about this property: http://www.trulia.com/property/1043987005-4505-Sleepy-Hollow…

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4
That area was never really "up the tubes"....it expired twice because it's well overpriced in an area that continues to see a significant number of distressed and bank owned homes.

Hank
1 vote Thank Flag Link Wed Mar 4, 2009
Hi Bonnie:

It expired on 02/28/09 at that same price of $165k according to FMLS. Maybe they will relist in a few days. There are no more current listings in that community and the only recent sales were foreclosures. Yes, that area has struggled as you said.

Please let me know if I can assist you with anything more.

Jan Huchteman
Buyer's Agent/Associate Broker
404-372-6071
1 vote Thank Flag Link Tue Mar 3, 2009
Bonnie - unless you have specific and not very flexible reasons for wanting to be in that particular area, any "bargain" will be a problem when it comes time to sell. Add to that the probability of living in an area of foreclosed and depreciating homes and the issues that brings.

If you want to persue it drop me an email and I'm happy to pull desktop data for you -

Hank
0 votes Thank Flag Link Thu Mar 5, 2009
Thanks, ya'll. That's a big help. Just wondering - what would be a decent offer price for that house if it went up for sale. The bank foreclosures are being given away (practically) around there (most are older but still as big or bigger and same neighborhood. Given it sold initially in 99 for around $100k, would $125k be too much too offer? It would seem that kind of "slap it up" house after 20 years could probably stand some upgrades, the siding looks a little rough to me but could be the digi pics. I guess it just depends on how motivated the seller is. How far is it approx from there to downtown Atlanta (give or take). Thanks in advance and I'll leave ya'll alone now! :)
0 votes Thank Flag Link Wed Mar 4, 2009
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