Home Pricing Cave Creek Arizona

Home Pricing Cave Creek Arizona

Home Pricing Cave Creek Arizona.  Realistic home pricing can be perplexing to the average homeowner in the Cave Creek area of Arizona.

This area includes homes ranging from $350,000 to over $5,000,000.

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So, how does one realistically price a home in the Cave Creek Arizona?

   • First and foremost, look to sales within 3 miles of the Cave Creek Home within the last 6 months

   • Distressed sales should not be utilized unless there are no other options

   • Attempt to find homes within 10% of the square footage of the home you are pricing.  3 comparable           home sales are the industry standard

   • Compare the bedroom/bath mix of the sold homes and utilize similar mixes of bedroom/bath.

   • Attempt to use similar sized lots as comparables

   • Look at  the design of the home and use comparables that are of similar architectural design

   • Utilize comparables of homes that were constructed within 5 years of the construction date of the home you are pricing

   • Amenities such as; landscaping, pool, spa, and exterior entertainment features can be price adjusted up or down based upon the anticipated replacement cost of the features

   • Access is a consideration as well.  Is the home located at the end of a 2 mile dirt road or does it have access to blacktop within a reasonable distance

   • Water Source.  Is is hauled water, shared well, city water, or private well?  The preference to most buyers is that the home has its own water source such as a private well.  Again, adjustments can be made based upon the range of value of the comparable sales……meaning if the range shows to be $180 per square foot to $200 per square foot, does the home you are pricing have the same features of the $200 per square foot sale or is it missing some of those features.

   • Outbuildings such as mare motels and barns.  These features can be price adjusted based upon what the comparables have in place compared to the property being priced.

   • The immediate neighborhood and surrounding properties.  Is the property you are pricing the largest house on the block?

After all of these factors have been considered establish a range of value on a square foot basis of the comparable sales.  From there, adjust each comparable based upon positives or negatives the comparable home sales may have in relation to the home you are pricing in the Cave Creek.

After all of that see what range of total sales pricing reveals itself with the adjustment to the comparables.
If you discover a range of value within 5% of each other, you have accomplished your task.  If the result is beyond that you may want to reassess your valuations.

These are the methods I use to properly assess valuation of homes that I list in the Cave Creek.

Feel free to give me a call to assess your home valuation in the Cave Creek Arizona