3771 E Sumo Octavo – on the market since Jan 2008 when it listed for $2,195,000 - is down to $1,350,000 today after a 150 thou price cut. (Listed by Long Realty)
You’d like to have some sympathy for homeowners in these situations - on the market 2+ years, down almost 40% from their original asking price, and still no buyer is sight.
But when you see how many of them ignored the market and hung on for months or years at prices that the market had rejected, and rejected over and over again, as too high, sympathy is not the feeling that wells up in you.
Likewise, getting your offer rejected from agents who were often indignant that you would make THAT (puny) OFFER, does not lead to feelings of sympathy. And often, THAT (puny) OFFER was equal to or greater than the (still on the market & rotting on the vine) current asking prices for many of these properties.
An it’s not over - prices at the high end in the Tucson Foothills market still have a ways to go. So look out below.
