The market data from 3 similar recent sales in LA VENTANA points to a value of approximately $798,884. To sell within a reasonable timeframe at fair market value, the $851,000 to $870,000 range is where I'd position this. With 3 comparable homes on the market in LA VENTANA, this price positions the property as the most affordable of 3 comparable homes on the market. This home's smaller footprint (287 sqft vs the comp average) plays a role in how the market prices it. At 1.53 acres, the lot is smaller than the 1.65 acre comp average, which factors into pricing. Buyers in LA VENTANA have 3 comparable options right now, with asking prices between $950,000 and $995,000. In LA VENTANA, home values have fallen approximately 1.2% over the past 6 months. One of the strongest data points is 190 CHALK BLUFF CT, Driftwood TX 78619, adjusting to $839,793; with a larger floor plan. The 3 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
