Based on what similar homes have actually sold for within a mile, I'd place this property's value at $361,642. I'd recommend coming to market at $400,000 to $419,000 to strike the right balance between value and market velocity. With 7 comparable homes on the market in 78747, this price positions the property as the 2nd least expensive of 7 comparable homes on the market. Built in 1977, this home is 33 years older than the average comp, which is reflected in the adjustments. The 0.20 acre lot (larger than the 0.14 acre average) is reflected in the estimate. There are currently 7 similar homes on the market in 78747, ranging from $320,000 to $529,900. The trend in 78747 shows prices have fallen 12.5% in the past 6 months. 10710 Pinehurst DR, Austin TX 78747 nearby adjusts to $420,240; with a larger floor plan. With 7 solid comps to draw from, the data tells a consistent story. Of course, without seeing the property in person, this is a data based estimate only.
Ed Neuhaus, Neuhaus Realty Group