Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $480,307. I'd recommend coming to market at $350,000 to $360,000 to strike the right balance between value and market velocity. At this price, the property would be the most expensive of 7 comparable homes on the market comparable homes currently on the market in 78628. Built in 2008, this home is 11 years older than the average comp, which is reflected in the adjustments. The 3.00 acre lot (larger than the 0.20 acre average) is reflected in the estimate. With 7 similar homes currently listed in 78628 (a buyer's market), competition is a factor to consider. The trend in 78628 shows prices have fallen 1.9% in the past 6 months. 1312 Terrace View DR, Georgetown TX 78628 nearby adjusts to $440,644; a strong comparable. 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
