it’s all the rage,

the price cutting phenomenon that swept thru the Canyons recently, appears to have now jumped the fence to Pima Canyon

2304 E Sentry Ridge Court, listed at $4,250,000 today dropped to $3,250,000

The question is, will this, like the raft of price cutting we saw in the Canyons,
catch on in Pima Canyon

We’ll have to wait and see, but a couple of weeks ago I did say, ‘… with so little activity at the upper end of the foothills real estate market I wouldn’t be surprised to see a slew of high end price reductions. Actually, I’ll be surprised if we don’t.

and I’m stickin to it. So who’s next,

2304 E Sentry Ridge Court Tucson, AZ 85718
(listed by Long Realty)

STOP THE PRESSES, 
1714 E Barrel Cactus is next, that’s who. Right on the heels of reporting the million $$ price cut above on Sentry Ridge, the owners of  1714 E Barrel Cactus Court (just up the street in PC and listed for $3.3) kicked-in $300 thou bringing it down to an even $3,000,000.
1714 E Barrel Cactus Court , Tucson, AZ 85718
(listed by Russ Lyon Sotheby's Int Realty)

ah, now who’s next?

see thefoothillsToday.com
to find your Tucson Foothills home

Comments

[John Schneider]

Yes Tom that's true. And I don't get it either, why it was listed for $2,998,000 for a year +, from May 2010 to June 2011, then brought back at $3.3, when it hadn't sold at $2.998. ??? It reminds me of the pricing strategies sometimes seen during the good old days of 05 - 07.
JS

[Tom S.]

1714 barrel cactus is now back down to where it was before they RAISED the price by 300K about 2 months ago. Did they raise the price just to drop it 2 months later? What a joke! This one is owned by the owners of Discount Tire so I guess they can afford to play around.

[Jeff M.]

It's about time! Many of the homes in Pima, lovely as they may be, are far overpriced for the present (and foreseeable future) market. I realize that many are spec homes and that the builders are holding out hope that they can make a nice profit, or even recoup their construction expenses. However, I'd think it's obvious by now that buyers in this segment are few and that they're looking for a good deal. I know, I'm one of them. Not in a hurry, I'm willing to wait them out. Happy to see some of them starting to blink.