Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $438,917. I'd recommend coming to market at $582,000 to $583,000 to strike the right balance between value and market velocity. Against 1 similar active listings in INDIAN CREEK, this price point lands at below the only comparable home currently on the market. Built in 2001, this home is 9 years older than the average comp, which is reflected in the adjustments. The 5.00 acre lot (larger than the 4.42 acre average) is reflected in the estimate. Buyers in INDIAN CREEK have 1 comparable options right now, with asking prices between $590,000 and $590,000. The trend in 78605 shows prices have fallen 14.3% in the past 6 months. 5900 Highway 138, Florence TX 76527 nearby adjusts to $632,525; a strong comparable. With 5 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
