Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $229,473. I'd recommend coming to market at $225,000 to $234,000 to strike the right balance between value and market velocity. In the current CARIBBEAN CONDO market with 3 similar homes available, this price represents the most expensive of 3 comparable homes on the market. Built in 1973, this home is 13 years older than the average comp, which is reflected in the adjustments. The 0.06 acre lot (smaller than the 0.17 acre average) is reflected in the estimate. There are currently 3 similar homes on the market in CARIBBEAN CONDO, ranging from $150,000 to $235,000. The trend in 78645 shows prices have fallen 2.3% in the past 6 months. 3216 Poe CV # 4F, Lago Vista TX 78645 nearby adjusts to $181,404; with a smaller floor plan. 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