Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $1,823,604. I'd recommend coming to market at $3,525,000 to $4,068,000 to strike the right balance between value and market velocity. In the current SKY FOREST market with 7 similar homes available, this price represents the 2nd least expensive of 7 comparable homes on the market. Built in 2006, this home is 12 years newer than the average comp, which is reflected in the adjustments. The 0.29 acre lot (smaller than the 0.35 acre average) is reflected in the estimate. Right now, 7 similar properties are competing for buyers in SKY FOREST, listed between $1,425,000 and $7,495,000. The trend in 78746 shows prices have fallen 7% in the past 6 months. 4001 Campo Viejo CV, Austin TX 78746 nearby adjusts to $1,706,368; with a smaller floor plan. Based on 3 relevant data points in SKY FOREST, I'm comfortable with this estimate. Without stepping inside, I can only go by what the data shows. An in person look would tell the full story.
Ed Neuhaus, Neuhaus Realty Group | Austin, TX
