1227 Lake Terrace DR, Elgin TX 78621

Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $313,150. I'd recommend coming to market at $317,000 to $319,000 to strike the right balance between value and market velocity. At this price, the property would be the 3rd least expensive of 7 comparable homes on the market comparable homes currently on the market in SUNSET HEIGHTS. Built in 1972, this home is 44 years older than the average comp, which is reflected in the adjustments. The 0.48 acre lot (larger than the 0.15 acre average) is reflected in the estimate. With 7 similar homes currently listed in SUNSET HEIGHTS (a buyer's market), competition is a factor to consider. The trend in 78621 shows prices have fallen 8.3% in the past 6 months. 1241 Lake Terrace DR, Elgin TX 78621 nearby adjusts to $398,803; with a larger floor plan and a pool. With 7 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