Typically, you can understand pretty fast why, what, and where the difference in values exist.
Location, Elevation, Views, quality neighboring homes, convenience, drive-time, sewer/septic/street lighting, etc, etc, etc.
Usually, it goes far beyond that, to conditions that you won't understand until you live there and discover why turn over is higher and desire is lower. For example, there could be more water run-off zones and water retention areas as you get lower in elevation, therefore mesquitos may be more predominate in a particular area.
Market Values are determined based on what buyers are willing to pay. Only at an extensive, close-up look can you really determine why an area sells for less.
Do you drive past trailers? Do the curbed streets end? Are the street lights not as plentiful? Sidewalks? Trees? (this goes for any area, just to give an idea)
If you are considering purchasing a home, I encourage you not to overlook the value of hiring a great Real Estate Agent, because what seems unknown to you, is the obvious to a professionals - it just cost you a lot more to discover it. know what I mean?
Beautiful Appearance, newer structures, new roofs/systems in the homes, builder incentives, better insulation, less maintenance, maintained roads, maintained sidewalks, HOA, community center, golf, parks and master planned community! -Stenier Ranch
Lacking in many of the departments above- Back section
If enough people buy, remodel, flip, repair, and MAINTAIN, a 200k house could be a great investment!
Make sure you take advantage of the free buyer's agent services of a Realtor!
Team West Real Estate
"When you want the BEST....call Team West"
You are comparing apples to oranges to some degree. As you pointed out water, sewer, HOA. If you have to maintain your own septic & well that was effect. Also it does not have access to the amenities of "Steiner Ranch."
If i can be of asistance with more specific questions let me know.