The market data from 3 similar recent sales in LOST COVE points to a value of approximately $709,156. To sell within a reasonable timeframe at fair market value, the $437,000 to $447,000 range is where I'd position this. At this price, the property would be the most expensive of 5 comparable homes on the market comparable homes currently on the market in LOST COVE. At 1.11 acres, the lot is larger than the 0.92 acre comp average, which factors into pricing. 5 similar homes are currently available in LOST COVE, creating a buyer's market for this price range. In 78669, home values have fallen approximately 0.8% over the past 6 months. One of the strongest data points is 101 Bedford DR, Spicewood TX 78669, adjusting to $1,005,175; a strong comparable. 3 comparable transactions in LOST COVE support the reliability of this estimate. As always, a data based estimate has its limits. Seeing the home in person is the best way to confirm value.
Ed Neuhaus, Broker/Owner | Neuhaus Realty Group
