TheTucsonFoothills

a slew of contracts

In the post just below this one I noted with some fanfare that 14 homes went to contract in the first week of the new year. And then I wondered, could that be fluke, a temporary spurt, something that will quickly fade.

But now looking at the 7 days since then I see that 35 more homes have gone to contract. And it’s likely that even more will be reported.

of the 35,

28 are priced $125 – $599,000
5 are $695,000 – $999,000
1 each at $1,545,000 and $1,625,000

35 to contract

It’s only week 2 of the new year and anything can happen, but this is an awfully positive start.

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is the season winding down

I’ve been absent from this blog for a few days and mostly because I’ve been busy with actual real estate work that may eventually pay the bills. But even so, the truth is there hasn’t been much to report. I’m wondering if the season is winding down, maybe a little early this year, or is the recent droopiness of the stock market taking its toll. Or maybe it’s not that at all. And it’s just a natural, inexplicable, harmless and restorative, really, pause. We’ll see, pauses last a few days, and a few days are just about up.  Since my last post on May 3rd we’ve had;

a scant 7 new listings came on, 6 of them priced up to $652k then one at $1,295,000, but located in an area better known for homes priced at $652. So nothing terribly exciting there.

21 price reductions, 18 of them from the low $2’s to the mid $5’s then three in the $700’s,
and not a single cut in the upper ranges.

9 homes went to contract, but here again, 7 of them are priced from the low $2’s to $509 then 1 at $639 and 1 at $995. And, again, nothing in the upper ranges.

a measly 5 homes sold since May 3rd, and all 5 are in the $2 to $300k range. Honest.

But don’t despair, there has been some activity at the upper end. Three listings were canceled  – listed at $1,695,000, $1,395,000 and $1,749,000. The $1,395,000 listing started out in 09 at $1,850,000, so while they’re thinking they took a huge price cut, in reality they’ve barely kept up with the falling market.

More later, I hope

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in contract since March 20th

Things were barreling along until about a week ago but now there’s been a dip in the action

just 12 homes in contract, and at the height of the season too

9 from $239,000 to $550,000 (201 remain for sale in this price range)

2 @ $699,000 & $749,000  (78 for sale)

1 @ $2.995m (71 for sale @ $1.0 & up)
 
here’s a link to the previous, more upbeat, contract report >in contract since March 9
or, on the right hand column under CATEGORIES click the latest for all contract reports this year,

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in contract since March 9

32 single family homes have gone to contract in the Tucson Foothills

25 from $100,000 to $599,000 (195 remain for sale in this price range)

5 from $689,000 to $999,999  (84 for sale)

2 over a 1 mil, at $1.049  & $1.199 (69 for sale) (2 in 11 days is not so hot)

Including the new contracts noted above and all other existing contracts, there are 148 homes in contract in the foothills today – while 350 remain for sale

- by price range the 148 in contract look like this;
116 priced $0 to $599k
  21 priced $600k to $999,999
  10 priced $1.0 to $1.595 + 1 at $3.395

the March 9th contract report is > HERE 
or, click – the latest - for all the ‘in contract since …’ reports since the beginning of time,
which was sometime in late January,

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in contract since Feb 29

33 single family homes have gone to contract in the Tucson Foothills

24 from $200,000 to $549,900 (195 remain for sale in this price range)

6 from $625,000 to $949,000  (84 for sale)

3 over a mil, at $1.1, $1.195 & $1.595 ((69 for sale)

Including the new contracts noted above and all other existing contracts, there are 147 homes in contract in the foothills today – while 348 remain for sale.

the Feb 29 ‘in contract …’ report is HERE

Enjoy!

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in contract since Feb 20

29 single family homes have gone to contract in the Tucson Foothills since then,

22 priced from $219,900 to $599,000 (193 remain for sale in this price range)
  5 from $629,000 to $895,000  (87 for sale)
  2 at $1,295,000 & $1,795,000 ((70 for sale)

if you’re keeping track, here’s what it looked like ten days ago,
in contract since Feb 15th,

Happy leap year!

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in contract since Feb 15th,

14 single family homes have gone to contract in the Tucson Foothills since then,

11 from $175,000 to $549,000
  3 from $635,000 to $995,000 
  0 at $1.0 & up

no surprises here,

and in case you’re keeping track, here’s what it looked like a few days ago,
> in contract since February 9th <

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sales and contracts

first, on Coronado Drive

4455 E Coronado Drive sold today for $1,035,000 ($257/sf) – and while that is 27% less than the $1,425,000 it started at in October 2010 – it is still way more than I would’ve bet it would ever get, in this market anyway. But maybe this market is changing and this is just another little sign that it is.    4455 E Coronado Drive Tucson, AZ 85718 (listed by Long Realty)
It last sold in 05 for $1,185,000, so, by the numbers the sellers did well.

And right down the street  4000 E Coronado Drive Tucson, AZ 85718 is reported in contract from a $389,000 list price. This is why it’s often difficult to make proper appraisals in areas of the foothills where there are a wide variety of houses – old and shabby, old and renovated, old and not renovated but not shabby, new and nice, new and not so nice, not new but not old either …
(listed by Long Realty)

And here are some of the other sales and contracts in the foothills, though not on Coronado Drive,

961 E Calle Mariposa sold for $769,000 in 2005, and today as a foreclosure for $436,000 off a $412,500 list price -  so a little bidding war I presume. (listed by Long Realty)

And in Skyline Belair 5132 E Camino Alisa went for $537,500 in 2002 and for $475,000 today. 2002 Yikes, (listed by Long Realty)

4430 N Hacienda Del Sol Road sold today for $554,000 off a $575,000 list price after just 6 days on the market. It was listed as a Joesler  – and it’s on 3.8 acres. So it’s special,  (listed by Tierra Antigua Realty)

5440 N Ventana Vista Road, in Ventana Vista, sold for $430,000 in October 08 and for $345,000 today. (listed by Long Realty)

A similar fate befell 5130 N Pelican River Way  - $489,753 in 07 and got just $368,000 today.
(listed by Realty Executives Tucson Elite)

 3641 E Via Alcalde is in contract today from a $949,000 ($255/sf) list price after about 4 and half months. It was also listed for 6 months in 07 – 08 at $1,550,000, to no avail. (listed by Long Realty)
Isn’t it nice to see realistic pricing pay off. 

And 7898 N Ancient Indian Drive, a short sale in Pima Cyn, was in a short sale contract for eternity, well almost, from late July to early February and after all that time it fell out. Now someone else has come along and put it back in contract – though still a 1st stage short sale contract.  (listed by Long Realty) 

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in contract since February 9th

17 single family homes have gone to contract in the Tucson Foothills since then,

12 from $185,000 to $599,900 
  3 from $747,000 to $939,000 
  2 from $1,035,000 to $1,095,000

So things have picked up a teeny bit since we last looked at contracts in the foothills >
in contract since Saturday, Feb 4, and before that > in contract since Monday Jan 30 >
and, going way back > in the last 3 days

And we’re still hoping to find a pulse in million-five and up market,

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in contract since Saturday, Feb 4

10 single family homes have gone to contract in the Catalina Foothills

8 listed from $153,500 to $429,000 (a very healthy showing)
1 listed at $750,000
1 listed at $1,195,000

a very paltry showing in the $600k  & up category – where 167 homes remain for sale

In 05 and 06 when prices were going thru the roof and high-end houses were flying off the shelf, the word on the street was that spending a million bucks just didn’t buy all that much house anymore. Which, I’m sure, only spurred sales even more. (125 sold at a million+ in 06 )

And now, when a million bucks buys a lot more house than you could ever have imagined back then, there just aren’t all that many people interested. (42 sold at a million+ in 2011)

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in contract since Monday Jan 30

25 single family homes went to contract in the Tucson Foothills this past week

20  priced $175,000 to $529,000
  3  priced from $875,000 to $995,000
  and 1 squeaked in at a million +, but just, @ $1,025,000

That was the extent of it in the foothills this past week. Maybe next week, after Super Bowl!

earlier entries tracking contracts this past week > on Monday,  8 homes went under contract today and Thursday,  in the last 3 days 

And that’s with a surging stock market, though, with everyone still counting their winnings, 
it may be too soon for the wealth effect to have kicked in.

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in the last 3 days

11 homes went to contract in the Catalina Foothills
– 10 of them priced from $175,000 to $499,900 – then 1 at $1,025,000

so nothing between $600 to $999k and just one that’s just over a million

(and there are 170 for sale from $600k to $15.9 mil)

it was pretty much the same story a few days ago when > 8 homes went under contract today

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8 homes went under contract today

7 of them are priced from $269,900 to $529,000 - then 1 at $875,000.

The good news is that homes priced up to about $600k continue to do very well, but beyond that it’s still a crap shoot.

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to find your Foothills home