The market data from 7 similar recent sales in TAHITIAN points to a value of approximately $339,177. To sell within a reasonable timeframe at fair market value, the $244,000 to $254,000 range is where I'd position this. With 7 comparable homes on the market in TAHITIAN, this price positions the property as the most expensive of 7 comparable homes on the market. At 121 sqft smaller than the typical comp, the size difference factors into the valuation. The 1985 construction puts this home 18 years older than the comp average, a factor in the pricing. 7 similar homes are currently available in TAHITIAN, creating a buyer's market for this price range. In TAHITIAN, home values have fallen approximately 2.3% over the past 6 months. One of the strongest data points is 320 Kaanapali LN, Bastrop TX 78602, adjusting to $297,862; a strong comparable. The 7 comps used here provide a solid foundation for this valuation. Keep in mind, I have not personally inspected this property. The numbers are data driven, not firsthand. Questions about this property or this area? Reach out anytime.
Ed Neuhaus, Neuhaus Realty Group