Home sales and Value (which value are you talking about)?

Written By Lisa Marie Contaldi

What should a house sell for? Use Textbook definition for fair market value- Investopedia = The fair market value is the price a home would sell for on the open market under normal conditions. It is different than actual market value (what it sold for) or the appraised value (what a paid appraiser said it was worth) and your property tax evaluation by the county.

The marketplace delivers a value based upon sellers making offering to buyers who react to that price. We all know it is what the buyer thinks at any point in time that either yields an offer, and then a final sale - or not. The buyer has to believe that the home is worth more than what they are paying.

Professional appraisers define a value using three approaches.

  1. Recent comparable sales - not more than 180 days

  2. Income benefits (how much the property would rent for)

  3. Replacement cost - how much would it cost to build.

This is why you will see on blog posts all monthly home sales (1), rentals (2) and new home offerings(3).

The number of active listings tell a story. In River Place there are many sections (some much larger than others), as well as home price bands. When looking at a neighborhood you will learn about a home’s value from the above perspectives but keep in mind they are a GUIDE vs GOSPEL. So when you look at recent sales understand how they are analyzed and remember, WHY a homeowner sells often tells another story.

  • sales by street, or section (GEOGRAPHY)

  • sales by amenity (VIEW, AMENITY LIKE GREENBELT, GOLF COURSE)

  • sales by price point, size (PRICE, BEDS, BATHS, 1 OR 2 STORY)

  • Life event triggers a sale

  • Prevailing Market Perspective

One thing is certain. Market perspectives influence the movement of real estate. Is the Real Estate economy bullish or bearish?

ACTIVE

As of February 13th there are 7 active listings in River Place (2/13/2023). A new listing on Big view came online at $7.5M and another relisted from late last year on Milky Way Cove has been relisted at $2.2M.

PENDING

There are 4 pending listings (no new pending contracts in past few weeks).

Lisa Marie Contaldi

In an era where homes sell themselves, we don't just sell homes, we help clients seize opportunities and maximize value! As a top notch Broker in the Greater Austin Area since 1993 we know the city inside and out. It's our mission to empower YOU to execute timely, beneficial, decisions! As expert relocation consultants we introduce lifestyles and trends. What makes us different?? - a solid business acumen and servant's heart. We are diversified, confident collaborators who will begin laying the groundwork the minute you make a decision to move. Intero is also networked globally with a corporate office based in Silicon Valley. By broadening your network of dynamic professionals you receive a better exposure for your home when it goes on the market. Why sell by a third party with ZERO local track record? We have owned, lived and networked Austin since the 90's. A long standing track record means we have relationships already established and allows us to exceed your expectations. Join our village of homeowners who stay up to date on home values with real time data. Let us support your journey and welcome you to this one of a kind place we call Austin, Texas.

Specialties: Residential Real Estate Brokerage

Certified Luxury Home Marketing Expert

Million Dollar Guild

Certified Relocation Expert

First and 2nd Home Buyer Assistance

Investment & 1031 Exchange Assistance

Custom Home Building Consultation

Travis, Hays, Williamson Counties


https://lisacontaldi.com/
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jan 2023. How’s the Market ?