Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $332,341. I'd recommend coming to market at $339,000 to $383,000 to strike the right balance between value and market velocity. Against 3 similar active listings in WEST RIDGE, this price point lands at the most expensive of 3 comparable homes on the market. Built in 1985, this home is 9 years older than the average comp, which is reflected in the adjustments. The 2.03 acre lot (larger than the 1.86 acre average) is reflected in the estimate. There are currently 3 similar homes on the market in WEST RIDGE, ranging from $298,000 to $419,000. The trend in 78612 shows prices have fallen 4% in the past 6 months. 182 Lake Front DR, Cedar Creek TX 78612 nearby adjusts to $383,145; a strong comparable. With 3 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
