Based on what similar homes have actually sold for within a mile, I'd place this property's value at $193,235. I'd recommend coming to market at $160,000 to $170,000 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 2nd most expensive of 3 comparable homes on the market. Built in 1973, this home is 6 years older than the average comp, which is reflected in the adjustments. There are currently 3 similar homes on the market in CARIBBEAN CONDO, ranging from $150,000 to $299,000. The trend in 78645 shows prices have fallen 1.2% in the past 6 months. 5801 Thunderbird ST # 20, Lago Vista TX 78645 nearby adjusts to $169,890; with a smaller floor plan and a pool. With 3 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