Here’s a fascinating look at the starting list price and the eventual sold price, plus Zillow’s valuation, on some of the priciest homes sold in the last couple of years in the Catalina Foothills. And many of them started out as specs and quite a few ended up as short sales
or foreclosures.
And as you’ll see there’s quite a spread between the initial list price and the eventual sold price. But even more eye opening, in accurately predicting the sale price, Zillow trounces the initial list price by hundreds of thousands, millions even, nearly every time. And the Zestimate price, as shown, reflects the zestimate at the time the house was listed. Be it in 2006, 2007 or whenever. So the zestimate corresponds to the same period when the initial asking price was set.
And, rather than being a handicap, I think the one edge that Zillow does have over many home owners and agents is that their valuations are cold and calculated and emotionless.
They don’t take needs and desires into account, whether they’re personal, financial or just based on what your neighbor got two years ago and you want to get now. And that’s a big plus, because the market doesn’t care one whit about any of that stuff.
(for the two properties marked with a * the zestimate is the closest month to the listing date that a zestimate was available)
| where | asked | Zillow says, | got |
| 2123 E Sentry Ridge Ct | $2,750,000 | $1,800,000 | $1,517,250 |
| 2112 E Sentry Ridge Ct | $5,900,000 | $1,800,000 | $1,765,000 |
| 2304 E Sentry Ridge Ct | $4,950,000 | $1,500,000 | $2,325,000 |
| 2162 Sentry Ridge Ct | $2,950,000 | $1,600,000* | $1,500,000 |
| 7454 N Secret Canyon Dr | $5,000,000 | $2,500,000* | $1,850,000 |
| 7828 N Ancient Indian Dr | $3,295,000 | $2,000,000 | $1,660,500 |
| 1682 E Sahuaro Blossom Place | $4,200,000 | $2,200,000 | $1,304,000 |
| 1813 E Sahuaro Blossom Place | $3,200,000 | $1,700,000 | $1,900,000 |
| 4647 E Palais Place | $4,450,000 | $1,600,000 | $1,400,000 |
| 6921 E Rock Ledge Place | $4,500,000 | $1,700,000 | $2,200,000 |
| 6959 N Javelina Drive | $4,900,000 | $1,868,300 | $1,850,000 |
| 7049 N Mission Hill Lane | $5,000,000 | $1,600,000 | $1,650,000 |
| 3208 E Via Palomita | $3,200,000 | $1,739,400 | $1,750,000 |
And while all of these homes were subsequently reduced and reduced again until they did sell, I’m pretty sure that many of them would have sold a lot quicker and for bigger bucks had they been more reasonably priced to begin with.
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to find your Tucson Foothills home
