cross another spec house off the list

5128 N Calle Ladero closed escrow today after an unremarkable 450 days on the market. It was a spec house and a foreclosure, that started life listed for $1,650,000, and ended sold for $920,000. Heck just 44% less. But, lest you get the wrong idea, the list price was down to $998k at the time of the sale.

I think the buyers did well. It's a good location in the old foothills, and a nice new house + a guest house too, @ $215/sf.

And with what looks to be about a $1.2m mortgage delinquency, when all is said and done, we probably didn't pitch in more than $350 - $400,000 on this one.

See it here> 5128 N Calle Ladero
** link will expire on 4/29/09**

see thefoothillsToday.com
to search for Tucson Foothills Homes

Comments

[rebecca]

crazy. $1.1 owed on that house, and the bank probably put $100k into it finishing/fixing it, repainting it, etc. etc. makes the offer we made to them 7 months ago not look so bad. that whole time-value-money thing. ;-)