A home in Cimarron sold in 2005 for $515,000 and was re-listed in October 2007, well into the downturn and just two months after the mortgage meltdown, for $780,000. If they’d pulled it off they’d have scored a 50% gain, but they didn’t.
So today, 2+ years and many price cuts later, it’s down to $550,000 and withdrawn from the market. Nice try though.
A new home at the Summit at Finger Rock sold in 2005 for $807,500. And, with a straight face, it was re-listed in March 2007 for $1,415,000. Hey, just 75% more. If you're gonna do it you gotta make it worthwhile, right. Right. Now 2 1/2 years and 5 listing agents later, it expired last week at $995,000. They still don’t get it.
A home on Ozona Dr in Las Lomas De Kino sold in 2005 for $518,000 and when it was re-listed in 2007 they jacked it up 83%, to $949,000. No go. It expired last month at $659,000.
On Cadena de Montanas in La Paloma, a house sold in April 08 for $760,000 and was re-listed one year later for $895,000. It’s now off the market, hoping for better times, I suppose, & looking for a renter. Get in line.
And last but not least.
This house on Territory Dr in Sunrise Presidio Village sold in August 07 for $1,000,000. And who could resist with special shots like this in the listing.
But whether or not the buyers realized it, $1,000,000 was, and still is, way high for that subdivision. The highest of highs, by a $$$$ bundle.
But who knew, they must have thought they got a bargain and could flip it for a tidy profit. Because 3 months later they turned around and listed it for $1,300,000.
And a of couple of months ago it expired at $650,000.
Same house, same lot, way different market.
But then again, they didn’t use those cool pictures that got them so turned on.
see thefoothillsToday.com
to find your Tucson Foothills home
