Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $509,122. I'd recommend coming to market at $387,000 to $397,000 to strike the right balance between value and market velocity. At this price, the property would be the 3rd most expensive of 7 comparable homes on the market comparable homes currently on the market in RANCHO CIELO. This home's larger footprint (120 sqft vs the comp average) plays a role in how the market prices it. Built in 2006, this home is 5 years newer than the average comp, which is reflected in the adjustments. Current inventory shows 7 comparable homes in RANCHO CIELO; a buyer's market based on recent absorption. The trend in 78645 shows prices have fallen 6.4% in the past 6 months. 20007 Lincoln CV, Lago Vista TX 78645 nearby adjusts to $482,776; with a smaller floor plan. Based on 7 relevant data points in RANCHO CIELO, I'm comfortable with this estimate. Without stepping inside, I can only go by what the data shows. An in person look would tell the full story.
Ed Neuhaus, Neuhaus Realty Group | Austin, TX
