That's where these (former) owners are. The good news is they sold their house today in the Tucson Foothills, finally, after a year and a half on the market. The less good news is they sold it for 30% less than what they (apparently) expected to get for it when put it on the market.
They listed it for $1,695,000 in January of 07, and sold it today for $1,160,000. What a letdown, expecting a million six something and ending up with a million one something, and after all that time. And after closing costs, etc, they'll come out in the red.
Because they paid $1,100,000 for it in September of 05 (at the height of the market). And they owned it for just a year and a half before they put it up for sale, for $1,695,000, or 54% more than they paid. What were they thinking. And by then the market had flip-flopped and was well into it's cooling down period. So again, what were they thinking.
There's a lesson here, and it's a simple one, but apparently a very hard one to learn. Don't price your house too high because nobody will buy it.
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