Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $419,913. I'd recommend coming to market at $407,000 to $433,000 to strike the right balance between value and market velocity. In the current 78605 market with 4 similar homes available, this price represents the most affordable of 4 comparable homes on the market. This home's larger footprint (975 sqft vs the comp average) plays a role in how the market prices it. Built in 1989, this home is 19 years older than the average comp, which is reflected in the adjustments. Current inventory shows 4 comparable homes in 78605; a buyer's market based on recent absorption. The trend in 78605 shows prices have fallen 17.7% in the past 6 months. 572 Eastern Ave, Bertram TX 78605 nearby adjusts to $243,092; with a smaller floor plan. With 4 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