Profile picture for krielenj

what is a real value for 1426 Kensington Court, southlake, Tx

Asking price is 536000
Zillow value at 445000
What is realistic?
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March 07 2011 - Southlake
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Profile picture for teatime411
whatever you are willing to pay, i'll pay 500000-510000.
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March 11 2011

Due to the non-disclosure limitations on sales information in Texas, the Zestimate is not always accurate. The true value of the home will be determined by what a buyer is willing pay and what the seller is will ing accept. When listing a home the real estate agent will use current sales information from the MLS of comparable homes to determine a fair market price that will attract potential buyers. If a house sits on the market for a long time with no offers, it usually means the price is not competitive and the Seller should consider a reduction in price or make necessary repairs or updates.
Should you need professional real estate services, please feel free to contact me.

Annette Thurmond
Broker/Owner



 

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March 07 2011
Profile picture for RealEstateReality

After looking at the CMA, COMPS,Tax Assessed Value, pictures & Home Features  I say 515-520 is a fair value. Zillow is not really reliable so ignore it.

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March 07 2011
Seem like overpriced, Zestimate shows $417,500
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March 07 2011
Considering the home has only 3 bedrooms, I think it's overpriced.  This explains too why it's been on the market for 6 months for the same price which leads me to think that the owners are not motivated.

You will be paying a premium for the location but still overpriced.

Also, don't take into consideration the zestimates at all.  They are useless for us in Texas.  It is a non-disclosure price which means that sales prices aren't made public, only loan amounts are recorded.  Sibce Ziullow uses public records to compute the Zestimate, this skews the numbers a lot.

I'll be happy to send you a market analysis on the home.  Feel free to drop me a note through my profile.  Zillow's rules do not allow us to post our contact information here.

Naima
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March 07 2011
Good Morning

Thanks for asking about the value for 1426 Kensington Court in Southlake TX.  This home is located in the Crescent Royale village of Timarron Planned Developed area. 

The home is currently listed with an asking price of $539,000.

Value is established by closed sales that are comparable and have closed in the last 6 months.  A tool that is useful is the MarketSnapshot that is available on our web site.  Go to [link removed by moderator]and click on "Your Homes Value".  This will show you all the homes that are currently active plus it is will also show you properties that have recently sold.  Great tool for general information. 

If you happen to be a potential buyer then certainly your buyer's agent needs to explain all the comparables and should have knowledge of each of the solds. 

Hope this helps with your question

Warmest Regards
Pam Yoakum
[contact info removed by moderator]
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March 07 2011
 
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