Tremaine Drive CHR Project Valuation Report August 2019
For the complete E-Book Valuation Report download
Opinion of value and summary of sale strategy for
373 E TREMAINE DR, Chandler, AZ 85225
The total cost of the project including acquisitions, professionals, construction budget, carrying costs, sale and marketing and closing costs is $520,122.
One of our earlier Comparative Market Analyses (CMA) showed a sold price per square foot (ppsf) range of $265-$315 /Sqft, this was from March of 2019.
As you can see in the cromford graph below, the sold price in 85225 has increased steadily since week 10 of 2018. We expect the remodeled home will sell by the end of spring between $265-$315 (ppsf) using the data and comps provided on the following 2 pages
Looking at the Cromford data report for 85225, as of July 2019 there were 83 active listings which lower for the past 2 years ranging from 115 to 86 listings.
Also important to the sale of the project are the days on market and the inventory supply. Looking at the cromford data for 85225 there is currently a .08 months supply with an average of 50 days on market.
In using this data to predict the future of the timing and strategies for the sale of the home, we would expect to start marketing the house by the end of October. Allowing us over 120 days to sell and close on the project by the end February 2020.
The remodeled home will feature approximately 2089 square feet and at $250 per square foot equals $522,250.
The compatibles that use higher grade features and are move in ready home may get over $265 per square foot, which is over a $550,000 resale value. As you can see from the data and comparables, this zip code is improving as homes are being upgraded and remodeled.
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