Home Values in Raintree

Home Values in Raintree

One Story Homes

Two Story Homes

Updated 4/23/11

Comparative Market Analysis

Two Story Homes in Raintree
&
Antonio Highlands

Prepared For:
My Neighbors in Raintree

By:
Jim Johnson

The values for two story homes have declined by nearly 11% over the past year.

Two factors are driving the value of homes in Raintree & Antonio Highlands down:

Sales at below market value (as establlished by my sale of 14806 Mountainside Ridge) by owners whose agents did not have an adequate marketing plan (BOLD font), and
Foreclosures (highlighted in hot pink), most of which could have been avoided had the owner consulted with a knowledgeable agent.

Pending sales on two foreclosures and ongoing foreclosures will further add to the decline in property values over the next 6 months.

My sale of 14806 Mountainside Ridge was the highest price per square foot ($67.86) sale in the neighborhood over the past year.

Sold Properties 8/13/10

MLS#	Address	Status	Area	SqFt	DOM	List Price	$/SqFt	Sold Price	Sold/SqFt	Close Date
868732	6911 Raintree Frst	SLD	1500	1869	27	$64,900	$34.72	$62,000	$33.17	01/19/2011
878709	14607 Hillside View	SLD	1500	2035	39	$79,900	$39.26	$82,000	$40.29	03/25/2011
840376	7111 HORIZON PEAK	SLD	1500	2320	132	$149,999	$64.65	$141,500	$60.99	10/27/2010
866143	7030 Teton Rdg	SLD	1500	2340	121	$149,999	$64.10	$147,500	$63.03	04/15/2011

Statistics

Total Properties: 15

	List Price	Sold Price	SqFt	DOM	VALUE/SF
Average	$111,200	$108,250	2141	80	$50.56
Sold properties closed averaging 97.35% of their Final List Price (FLP). This reflects a 2.65% difference between property sale prices and their FLP's. On the average, listings that were NOT foreclosure sales sold for $13,620 less than my marketing plan may have brought.

This market analysis takes into account only the square footage and price for the listed properties. Many factors will make a difference in the final analysis of value for your home. Obviously, homes with builder upgrades, covered patios with integrated rooflines, larger patios, tile or wood floors, and three to four sides brick veneer should bring a higher price than average.

Do not however expect to receive dollar-for-dollar for upgrades when you place our home on the market. The builder's markup does not transfer. On the average, you can expect upgrades and improvements to add about 60% to 70% of their cost.

The condition of the home is also a factor. If it needs painting (inside and/or out), a new roof or carpet, these should be addressed prior to putting the house on the market. The condition includes the lawn and landscape—The property's "curb appeal." If the lawn is barren or weed choked, it will not so much bring down the value as it may turn away prospective buyers. First impressions can make or break your prospects for selling your home.

Another factor which can make a pretty hefty difference is the right pricing strategy when it comes time to sell. Whether you are ready to sell or just want to know what the value of your home is, I will be happy to give you my opinion of value. Call me at 638-1885, or send an email to .