Based on what similar homes have actually sold for within half a mile, I'd place this property's value at $1,341,221. I'd recommend coming to market at $819,000 to $829,000 to strike the right balance between value and market velocity. Among the similar homes currently available in LAKE, this price point stands out as competitive. The 503 sqft size difference versus comparable sales is reflected in the adjusted values. The 5.03 acre lot (smaller than the 5.91 acre average) is reflected in the estimate. Right now, 7 similar properties are competing for buyers in LAKE, listed between $849,900 and $1,425,000. The trend in LAKE shows prices have fallen 66.7% in the past 6 months. 8500 Lime Creek RD, Volente TX 78641 nearby adjusts to $1,676,753; with a larger floor plan. 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