A Midtown Deal Too Good to Miss

By on 16 November, 2011 in Sandra Nickel with 3 Comments

I’d seen the little log cabin when it was on the market some years ago — 2003, to be specific. My team members and I had looked at it one Wednesday on what we call caravan, our weekly tour of property newly listed for sale.

In 2003, the cabin was home to someone — an older woman, I guessed, based on the furnishings and accessories. It was selling for $74,000 and boasted not only gorgeous heart pine floors but also a 2-car garage attached to the house, a real rarity for older homes.

The cabin, despite being cute as a button, took “99 forevers” to sell. Having been listed Dec. 23, 2003, it did not become home to another until Feb. 25, 2005, a full 14 months later. But at least it sold and at a final sales price of $69,500.

Last summer, the cabin reappeared on the market at $69,900 but no buyers were forthcoming. Then I read that it had gone into foreclosure. Shortly thereafter, Oct. 2010, the property was again offered for sale, this time by a foreclosure company and at what I thought was an incredibly low $29,900.

Calendar pages turned and nothing happened. The price came down, first to $24,900 then $21,900. I couldn’t stand it any longer. The thought of this adorable home’s falling into the wrong hands and then into disrepair because of an absentee landlord was just too much.

My husband and I offered $19,900. No sale. The agent said there was another buyer who had a buyer offering more. Good, I told him. Keep me posted.

Weeks later, my phone rang and I learned that “my little log house” was once again available and, guess what? The foreclosure company would accept my $19,900 if we were still interested.

We now own the home. We’ve spiffed up the interior and done the needed repairs and are getting ready to find a tenant who will appreciate it like we did.

Can you imagine: 2 bedrooms, 1 bath, central heat and air, garage, and double lot. It’s just 1.5 blocks  from the Governor’s Mansion. We arranged a bank loan and the payment is so low I’m too embarrassed to quote it. Suffice it to say, we will enjoy great positive cash flow.

$19,900! For a bona fide historic home. Is this a great country or what?

Sandra Nickel has been listing and selling residential real estate for over 29 years, most with an intense focus on Montgomery’s Midtown neighborhoods. Sandra serves on the Mid-Alabama Coalition for the Homeless, the Cloverdale Business Coalition, Historic Southview, the Volunteer and Information Center, Landmarks Foundation and her own neighborhood Garden District Preservation Association.

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There Are 3 Brilliant Comments

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  1. Donna Jo says:

    Great job Sandra! What a great house!

  2. Jerret says:

    Wow. That’s absolutely amazing. I’m a sucker for wood floors!

    Crazy to think someone could buy that with a credit card 🙂

  3. Heather says:

    I have never seen this house– I thought I knew almost every unusual house in Montgomery! I am dying to know where this is! Would also love to hear more about the age and history

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