Based on what similar homes have actually sold for within a mile, I'd place this property's value at $399,305. I'd recommend coming to market at $205,000 to $215,000 to strike the right balance between value and market velocity. At this price, the property would be the most expensive of 7 comparable homes on the market comparable homes currently on the market in EAST END FLATS. At 632 sqft smaller than the typical comp, the size difference factors into the valuation. Built in 2008, this home is 14 years newer than the average comp, which is reflected in the adjustments. With 7 similar homes currently listed in EAST END FLATS (a buyer's market), competition is a factor to consider. The trend in 78702 shows prices have fallen 8.5% in the past 6 months. 1181 Ridgeway DR, Austin TX 78702 nearby adjusts to $420,902; 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
