"When demand declines, prices soon follow" is a statement that supercedes a February appraisal based on dated sales data. The house is only worth what "one" buyer is willing to pay for it.
So you have competition - lots of it. The competition is not just in Kirkwood - the better school district in Oakhurst is attractive. The tree lined streets and retail appeal of East Atlanta Village is attractive. East Point has a lot of intrinsic value. The Westside is up and coming, and demand is pretty high over there. Your Buyer will look everywhere, not just Kirkwood.
So, is Kirkwood really worth it? Sure it is. I live here, and I plan to live here for many years. My house has gone up in value over 20% in 4 years. Look at the retail improvements in the area in just 3 years. Look at the overwhelming uplift in the past 5 years. Look at the incredible proximity to highways, retail, restaurants, Midtown, Downtown and the City of Decatur. The fundamentals are good, for long term investment. Of course, Kirkwood is really worth it.
So, about your real estate investment...were the formica countertops "really worth it?" Is the added bathroom an efficient placement? Does the house have "flow?" Does the "curb appeal" set it apart from the 350 houses that compete with it?" Will it be one of the 75 that sell in the next 3 months? Were the "slightly new" appliances "really worth it?" Was the "floating floor" really worth it?"
My business partner, Greg Ruis, "The Pricemaster" and I will drop by the house this week and offer a free price opinion. Would that be OK?
If your plan is to live in the home and then sell it in the near future, consider consulting an accountant on the tax benefits from a capital gains perspective by selling in less than 3 years.
Best of luck,
John S. Dodson
L&M Property Group, LLC.