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Finance & Accounting
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Student Name Professor Name Course Title Day Month Year Case 2: Listing Property Choosing area code 85206 in Mesa, Arizona as a basis for my search, I found a home 552 South Seton. The home itself is located in a gated community just off a major freeway in the area.
The price of $235,000 certainly seems reasonable, but the next step of this case study will be to compare prices of homes in the nearby vicinity with similar features. Looking in the same area, there is a similar sized home at 3766 East Isabella Avenue for $280,000. The difference in price comes into play due to the presence of a swimming pool, although the actual plot size is a tad bit smaller by nearly 400 square feet. To find a home that is almost identical to the home on Seton, a two-story single family home is available at 4138 East Alder Avenue. This one does have 4 bedrooms, as opposed to 3 in home on Seton, but the total square footage of the home is nearly the same. This tells a prospective buyer that the rooms are likely smaller in the home on Alder, so smaller families would likely tend to gravitate towards the home on Seton. The Seton home is priced $10,000 more than the one on Alder, but comes with nearly 1,400 more square feet of land, making it by far the better priced home of the two (Realtor.com, para. 2). In addition, the Seton home is a new listing, while the other two mentioned in this case study have been on the market for more than a month and have already seen their listing price decrease. If this trend continues, the price of the home at 552 South Seton would likely decline in the near future as well. ...
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