YOUR NEIGHBOR SOLD FOR WHAT?
If you live in Whiskey Creek long enough, you’ve probably done it. A house down the street sells, you hear what it sold for and immediately think, “Wait… WHAT? Mine is nicer than that!”
Or maybe it sells for less than you expected and suddenly you’re wondering if your own home value just took a hit.
Welcome to real estate, where two houses can be on the same street, look fairly similar on paper and still have VERY different values.
One of the biggest mistakes I see homeowners make is looking at a neighbor’s sale, or Zillow, and assuming that automatically determines what their home is worth. It gives us information, absolutely. But it doesn’t tell the whole story.
Whiskey Creek is a perfect example.
We have golf course views, water views, pools, no pools, beautifully remodeled homes and homes that haven't seen an update since shoulder pads were fashionable the first time. Different roof ages, impact windows versus shutters, flood zones, elevations, floor plans and lot locations.
All of that matters.
But today’s buyers aren’t just looking at the purchase price anymore. They’re doing the math on what that house is actually going to cost them to own.
A $500,000 house isn't always a $500,000 house.
Take two Whiskey Creek homes both listed for $500,000.
One has a newer roof, impact windows, newer HVAC and very little that needs to be done. The other has an older roof, original windows, an aging AC and a list of projects waiting for the new owner.
Same $500,000 price tag. Very different $500,000 houses.
Buyers are paying attention to insurance, flood zones, roofs, ACs, windows, electrical, plumbing, pools and what they're going to need to spend after closing.
And trust me… they’re calculating it.
This is also why I cringe a little when someone tells me, “But the house down the street sold for $XXX per square foot.”
Price per square foot is a tool. It is NOT a magic formula.
If it were that easy, you wouldn't need me. We'd all carry calculators, multiply the square footage and call it a day.
A beautifully updated golf course home with a newer roof, impact windows and a gorgeous pool isn't necessarily worth the same per square foot as an original-condition home in a less desirable location just because they're both in Whiskey Creek.
And sometimes the things affecting value aren't nearly as exciting as the pretty kitchen.
A buyer may LOVE your countertops, but if the roof is nearing the end of its life and their insurance quote just went through the roof—no pun intended, but I'll take it—that kitchen suddenly isn't the only thing they're thinking about.
That's why when I'm pricing a home, I don't just pull the three closest sales and slap a number on it. I'm looking at what sold, its condition, location, features, competition and what buyers were willing to pay for those differences.
I'm also looking at what DIDN'T sell. Sometimes that tells me just as much.
So when a house down the street sells and you're dying to know what it means for yours, don't panic—and don't start mentally spending the extra $150,000 you've decided your house must be worth either.
There is usually a lot more to the story.
That's one of the things I love about Whiskey Creek. These aren't rows of identical new-construction homes. Our homes have evolved over the years. Owners have renovated, added pools, replaced roofs, opened floor plans, installed impact windows and made these homes their own.
Those differences create value, but not every improvement creates the SAME value.
If you're thinking about selling in the next year or two, talk to an experienced agent before you start spending money. There are things I would absolutely tell you to do and others where I would tell you, “Don't throw good money after bad.”
Spending $75,000 on something you love does not automatically make your house worth $75,000 more.
So, the next time you hear, “Did you see what that house in Whiskey Creek sold for?” Yes, pay attention.
Just remember: the sale price is the headline. The house, its condition, location, expenses and the market when it sold are the rest of the story.
And THAT is what tells us what your Whiskey Creek home may really be worth.
So, if you’ve been watching the sales in Whiskey Creek and wondering, “Okay, but what does MY house actually look like in today’s market?” reach out. I’m always happy to put together a no-pressure value review of your home and show you what I’m seeing, not just what Zillow says.
And if you’re thinking about making improvements before selling, call me before you spend the money. I may save you from a project you’ll never get your money back out of.
~ Jessica Nolan & Erin Harrel
Jessica is a Whiskey Creek Resident | WCCA Board Member
Harlan Group Real Estate at KW
