In Pima Canyon, 7510 N Mystic Canyon Drive sold for what I’m sure was a disappointing price to the sellers. It went for $946,100 ($247/sf) off a $1,195,000 list price – which was down just $100 grand from where it was first listed in June 2010. But worse yet, they paid $1,300,000 for it in November 04. So not an easy pill to swallow. (listed by Long Realty)
And 3271 E CAMINO JUAN PAISANO in La Paloma Estates, which has had it’s share of ups and downs over the years, sold again today. (listed by Long Realty)
Juan Paisano first sold 10 years ago as a brand spanking new home for $1,780,000 ($316/sf). Then the current sellers paid $2,550,000($444/sf) for it in January 2007 – when the lower end of the market was slip slipping away but the upper-end was still roaring along. But that too soon came crumbling down. And they ended up selling Juan Paisano today for $1,640,000 ($290/sf) off a $1,795,000 list price. So right off the bat they bit the bullet and listed it for three quarters of a mil less than they paid. And then they ended up taking $150 thou less than that – so they’re in for $900 grand plus closing costs, commissions, etc. Talk about a bitter pill.
But there’s more. When it was first listed, about 6 months ago, I represented buyers who, after some negotiation, offered $1,675,000 for it, cash. But it was too early in the game and the sellers must have figured they would get more – probably thought they should get more since they had listed it for so much less than they paid.
So they didn’t take the $1.675. And my buyers wouldn’t go any higher, and I didn’t disagree. I thought $1.675 was more than a fair price. So the sellers held onto the house for another 6 months, only to take 35 thousand less. Which probably ended up costing them about $100 grand. Whatever!!
And last but not least, 7828 N Ancient Indian Drive in Pima Canyon sold today.
The old Indian was a spec home that was first listed in January 2009 - a full 10 months before it was completed - for $3,295,000 ($447/sf). And it left the market two years later, January 4th this year, at $1,995,000 and returned just two weeks after that as a foreclosure asking $1,850,000. I represented the very happy buyers as we snapped it up for the bargain price of $1,660,000 ($223/sf).
And, worth noting, it is one of the very few foreclosures that didn’t have a scratch on it. Not a single thing missing and not a hair out of place. (Listed by Russ Lyon Sotheby’s International Realty)
So just like many others that have sold recently, these high-end homes finally did sell, but to do so the sellers had to pay a very steep price.
See all three – Mystic Canyon, Juan Paisano & Ancient Indian
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