Not that anyone's looking for them right now, but if they were, they'd find that good lots in the Foothills are almost nonexistent. And this has been true for at least five or six years now, which explains why most of the spec homes built in the last few years were built on not-very-desirable, marginal lots. And, I'd venture, explains why they've had such a hard time selling.
When real estate in the Foothills started to take off about 5 years ago I was betting the homes in Skyline Bel Air were ripe for, and would see, investment in rebuilding and renovation.
Skyline Bel Air is in a prime location a half mile north of Swan and Sunrise, and adjacent to Skyline CC. And it's stock of vintage homes, built in the 60's and 70's, sit on some of the nicest, most private, city and mountain view lots in the Foothills. But most of the homes are old and dated and in need of major renovation or, in some cases, are better off as knockdowns. And while there was some investment in Skyline Bel Air, because of the real estate bust, it was choked off before it had a chance to really get going.
But when the market does come back, and people start in earnest looking for their place in the Foothills, I think they'll be more careful about what they buy, and more concerned with quality and lasting value. And I think location, location, location is going to, once again, be a bigger draw than a big box home filled with frills and squeezed in by the side of the road somewhere. So once again, I'm betting on Skyline Bel Air.
Right now there are 17 homes for sale in Skyline Bel Air, from $399,000 to $699,000, and all but 4 are under, some well under, $200/sf, asking price. And just 4 sold in the last 6 months, and they went for $347k to $641k, though the one at $641 had already been renovated. Excluding that $641k sale, they went for an average of $144/sf, and that's on a private acre +/- lot, that's not cheek to jowl by the side of the road.
See the 17 for sale in Skyline Bel Air
**link will expire on 4/17/09**
see thefoothillsToday.com
to search for Tucson Foothills Homes
