The Catalina Foothills

hurry up and wait

Listed just 4 days ago at $725,000, 5911 E Placita Primitiva in Alta Vista is already in contract. But it’s a short sale, so it could be weeks or months before mr lender gets around to deciding whether to play ball or pull the plug.

5911 E Placita Primitiva Tucson, AZ 85750
(listed by Long Realty)

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the well trodden path to a distress sale

this is about 4411 Camino Sumo in Cat 10 but bears striking similarities - in the art of pricing and in the amount of time it took to realize that the days of wildly escalating prices were long gone - to the post just below this > this has been a long time coming 

4411 sold for $1,303,575 in December 05 (a reasonably reasonable price for that market) but, here’s where they tripped up, it was listed again in December 08 for $1,650,000. And after a few months, and no takers, it was raised to $1,750,000. see > see if this adds up < and > you can ask whatever you want < (yes, 4411 has been a good source of material over the years)

And it’s been at it ever since with price cut after price cut and 3 or 4 different listing agents along the way. It’s not the agent, it’s the price. And this past March it finally got down to $999k and promptly went to contract as a short sale > it just won’t be the same < But after sitting on mr. lenders back-burner for 5 months the deal fell apart the other day. Yes, kaput, after 5 months of waiting. 

But all’s well that ends well (I hope) and, it is an attractive house, particularly at $999, 2 days later and it’s back in contract.

4411 Camino Sumo, Tucson, AZ 85718
(listed by Long Realty)

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this has been a long time coming

The die was cast on a hot, humid day in August 2005 when someone paid $1,600,000 for
3189 E Corte De Andalucia  – way more, in my opinion, than it was ever worth. Ever, even back then. And a year and half later, January 07, they put in on the market for $1,895,000. But no such luck. So it sat until June 2011, by which time it had been reduced and reduced to it’s final resting place as a short sale looking for $920,000. And somewhere in there I represented a buyer who offered, I don’t remember exactly, in the neighborhood of $700k. But of course that didn’t fly and soon after it left the market.

And today, after more than a year in mr lenders hands, it’s back in play as a foreclosure, brought to you by JPMorgan Chase Bank, at $905,850.

There’s just one picture in the listing so if you have any interest whatsoever, you’ll have to go see it for yourself. I wonder, seriously, is that a good way to get more showings. Particularly these days with inventory so low, with just one picture it’s impossible to dismiss it. So you have to go see it.

3189 E Corte De Andalucia Tucson, AZ 85718
(listed by RE/MAX Majestic 4044)

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I’ll huff and I’ll puff and I’ll blow your house down

Thanks to houselogic.com

coming down to earth in Cobo Catalina Hills

820 E Magee Road – 1999 built, 5,582 sf on 5.9 acres – set off on its maiden voyage in 2008 asking $3,495,000 and while it’s still at it today it’s now available for $1,497,700.

820 E Magee Road Tucson, AZ 85718
(listed by Russ Lyon Sotheby's Int Realty)

UPDATE; a couple of hours later and there’s already a contract on this house. And given the timing,
I wouldn’t be surprised if it already had a contract before it was relisted. I’d be surprised if it didn’t.

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2321 E Calle Lustre is in contract

Yeah! I like this house, a lot >  a Joesler, transformed <

It went to contract in March but ended up falling out over a bum appraisal > another deal killed by another half-assed appraisal <

I’m glad to see that another buyer has come along, it’s a special house;
> 2321 E Calle Lustre -  Tucson, AZ 85718 <
(listed by Long Realty)

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no earth shattering news on distress sales

But if you’re interested here goes,

From April 1, 2010 to August 24, 2010 there were 58 distress sales of single family homes in  the Tucson Foothills.
19 short sales & 39 foreclosures 
they sold for an average/median of $408,004/$321,500 – in 192 CDOM (cumulative days on market)

During the same period last year there were 50 distress sales;
9 short sales & 41 foreclosures
and they sold at an average/median of $341,747/$327,500 – in 90 CDOM

During the same period this year there were also 50 distress sales (honest);
but this time 19 were short sales & 31 were foreclosures
and they sold at an average/median of $399,302/$308,450 – in 103 CDOM

The biggest change is the number of days on the market from 2010 to now. And I’m guessing that that’s at least partially due to everyone – buyers, sellers, real estate agents and lenders –having become more familiar and comfortable with the idea and process of buying distress properties. And also, of course, the increased availability of credit today.

And if you’re looking for a short sale or foreclosure, the pickins' are slim. There are just 26 for sale in the Foothills today – last June there were 46 – in June 2010 there were 56.

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if you missed it the 1st time

6470 N Thimble Pass, listed at $1,795,000 and went to contract last week after just 22 days, 
is back on the market.

6470 N Thimble Pass Tucson, AZ 85750
(listed by Long Realty)

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what happened this past week,

21 homes were listed for sale;
17 were priced from $199,900 to $575,000, and three of them are already in contract
then 3 priced from $600,000 to $929,000
and one at $2,600,000

10 went to contract;
9 priced from $225,000 to $569,900
and 1 at $1,695,000

and 12 sold
10 sold from $235,000 to $575,000
and 2 at $685,000

If there were more good listings to choose from there would be more sales. That’s especially true in the mid-range, mid $500’s to about $900. And even at a million and up, you saw how the house on Ancient Indian at $1,695,000 went in 6 days and the one in Ventana at $1,795,000 was gone in 3 weeks.

Sales are up, even in August. So far this month 47 homes have sold – same time last year 33 sold.

But of course there are still quite a few homes for sale that have been picked over and rejected for one reason or another. And others that are still just too pricey for anyone to even seriously consider. Not everything is selling like crazy.

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that was even faster

Listed just 7 days ago for $1,695,000, 7899 N Ancient Indian Drive in Pima Canyon is in contract - it seems like just yesterday that I mentioned it when it  was listed > wheelin and dealin in Pima Canyon <

And the reference to ‘even faster’ is to a piece I wrote last week about a quick contract on a $1,795,000 contemporary in Ventana  > that was fast <

7899 N Ancient Indian Drive Tucson, AZ 85718
(listed by Tierra Antigua Realty)

7 days, I’m not making this stuff up,

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Hurry!

37 homes have gone to contract since August 1st with an average cumulative days on the market (CDOM) of 87 days

During the same 20 days in the white hot market of 2006  44 homes went to contract with an average CDOM of 117

2007 – bingo! 37 also went to contract. But it took them 145 days.

2008 – forgetaboutit, 34 to contract @ 198 CDOM

2009 – 46 @ 192 CDOM

2010 – 31 @ 145 CDOM

2011 – just 23 to contract between 8/1 & 8/20 and it took them 129 days to get there.

You’ve probably seen listings with that annoying sales pitch, ‘hurry! this one won’t last’ -  
yeah sure, meanwhile it’s been sitting on the market for 6 months.
But now it may actually be true. Desirable and reasonably priced houses, and there are more of them everyday, are going to contract in record time. Of the 37 to contract so far this month 15 had a signed deal in less than 30 days – and 10 in less than 15 days. And this is August, the droopiest month of the year.

At the other end of the spectrum homes that have been sitting on the market for eons – like 2 & 3 years - are now also going to contract & selling. And – the nerve of them -  they’re driving the average CDOM UP. Once they get cleared out the days on market will drop even further.

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ye olde colonial

6840 N Saint Andrews Drive, a rare Colonial, maybe the only Colonial in the Foothills, went Pending today as a foreclosure listed at $429,000 ($96/sf). That’s after starting in late 09 at $849,000.

 

I’d mentioned this house in January when it went to contract as a short sale, but since fell out
and then, it appears, found yet another buyer in search of a Colonial  >  after 36 years it ends up a short sale  <

6840 N Saint Andrews Drive Tucson, AZ 85718
(listed by RE/MAX Excalibur)

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what’s your home worth

Here’s a look at recent sales and their actual sale prices along with Zillow’s zestimate of their value.

These are all the single family homes sold in the last two weeks in the Tucson Foothills. 
Starting at the top,

- 3657 E Canyon Wind Place  Tucson, AZ 85718 sold $2,150,000 on 8/15
but Zillow has it at $2,350,580. My guess was $2,000,000.

- 1495 E Canyon Spring Court Tucson, AZ 85718 sold $985,00 on 8/10
and Zillow low-balled it at $862,790.

- 3395 E Placita De La Jolla Del Sol Tucson, AZ 85718 sold $875,000 on 8/14
but according to Zillow it should have gone for just $783,392

- 6119 N Pinchot Road Tucson, AZ 85750 sold $779,000 on 8/10
but Zillow says $716,162

- 4920 N Avenida De Vizcaya Tucson, AZ 85718 sold $735,000 on 8/08
And Zillow was fairly close at $706,557. I’d of said $650,000, tops, and not a nickel more.
But with the scarcity of homes for sale the forces of supply & demand exert a more potent influence.

- 4445 E Saranac Drive Tucson, AZ 85718 sold $635,000 on 8/10
and Zillow, $694,227.

- 7023 N Camino Sin Vacas Tucson, AZ 85718 sold $622,500 on 8/15
Zillow was in the ballpark anyway at $596,135

- 6541 N Pontatoc Road Tucson, AZ 85718 sold $565,000 on 8/16
the big Z hit the bulls eye at $567,720

- 4170 N Camino Gacela Tucson, AZ 85718 sold $490,000 on 8/9
and Zillow’s at least on target at $511,391

- 5761 N Placita Del Trueno Tucson, AZ 85718 sold $452,500 on 8/10
and again, Zillow $472,834

- 5585 N Paseo Ventoso Tucson, AZ 85750 sold $435,000 on 8/15
and again, Zillow $417,143

- 5447 N Via Velazquez Tucson, AZ 85750 sold $420,000 on 8/6
Zillow called it at $386,264. Not too bad. But this house is in Fairfield and Fairfield is a fairly cookie-cutter type community and therefore should be fairly easy to price.

- 4361 N Wilmot Road N Tucson, AZ 85750 sold $397,500 on 8/8
at $405,258 Zillow virtually nails it again.

- 4980 E Calle Guebabi E Tucson, AZ 85718 sold $390,000 on 8/8
Zillow, bingo! $391,250

- 6138 N Campo Abierto Tucson, AZ 85718 sold $371,000 on 8/10
your edge in real estate had it at $391,193

- 6226 N Camino Arco Tucson, AZ 85718 sold $302,500 on 8/8
and Zillow had it at $292,899. Close, very close.

- 261 E Calderwood Road Tucson, AZ 85704 sold $296,000 on 8/17
Zillow, no zestimate on this one. And that’s odd because this is in a small new home development (Miramonte at the River) on the southwest edge of the foothills and about as cookie-cutter as it gets.

are we done yet? almost,

- 5570 N Suncrest Place Tucson, AZ 85718 sold $280,000 on 8/17
Zillow nailed it at $292,705.

- 323 E Croydon Park Road Tucson, AZ 85704  sold $269,900 on 8/8
this is another ‘Miramonte at the River’ home, but Zillow called this one at $253,586

- 251 E Calderwood Road Tucson, AZ 85704 sold $280,000 on 8/7
Zillow low-balled it at $262,169 – also ‘Miramonte at the River’, where they’re having a big week

- 5011 N Post Trail Tucson, AZ 85750 sold $283,500 on 8/10
a hole in one - $283,603

- 3755 N Tanuri Drive Tucson, AZ 85750 sold $235,000 on 8/16
Zillow - $258,392. Interesting, along with their $258,392 Zestimate, Zillow noted that it’s for sale for $250,000.

and finally,

- 425 E Wine Plum Drive Tucson, AZ 85704 sold $223,900 on 8/7
but Zillow also low-balled this one at $202,156.

So no surprise, Zillow did much better at predicting value at the lower end of the market than at the mid to upper end. And that makes sense. The more expensive homes are more likely to have more custom or special features, along with being on great lots with good views, than lower priced homes. And though Zillow is not able to accurately evaluate those special features or views, they’re worth $$$ to foothills buyers. 

THE END

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in the last 30 days

here’s a peek at sales data for the most recent sales of single family homes in the Tucson Foothills - for the period of 7/15 – 8/15 this year and in two previous years.
(all prices are averages for the period. And while  7/15 – 8/15 is actually 32 days, call it artistic license,
 ‘in the last 32 days’ sounds weird)

Year	# Sold	OLP	LP	Sold Price	CDOM
2012	65	$554,118	$533,586	$503,754	128
2011	63	$526,578	$509,013	$480,654	121
2010	51	$498,509	$478,594	$444,238	181

The original list price (OLP), the list price at time of sale (LP) and, most importantly, the sold price are all higher this year than during the same period in the previous two years.
The average Sold Price is up 4.8% this year vs 2011 and 13.4% vs. 2010.

And $503,754 is the 3rd highest average sale price this year, having been beat out by a nose in March at $504,534, and for the full 31 days of July at $514,021.

And Cumulative Days on Market (CDOM) is also pointing to a stronger market.
At the height of the market madness in 2006, during the same 7/15  - 8/15 period, the CDOM was 118.

If you’re still waiting for the bottom, I’m afraid that it has come and gone.

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if only they knew

they could’ve sold it 4 years ago and, no doubt, at a much higher price

3641 E Via Alcalde was listed in October 07 for $1,500,00 and a few weeks later raised to $1,550,000 ($414/sf).  But that didn’t fly and it sat at $1,550,000 until it expired in April 08.
If only they knew, and who did, instead of raising it they could’ve dropped it to $1,250,000 and sold it in 2 weeks.

And for whatever reason they didn’t relist it - maybe to give it rest for the summer – maybe to give it a couple a months for the dark clouds to blow over - but by the time summer came and went things went from bad to worse to frightening. So they waited and waited and didn’t bring it back until last November. But then they nailed it, they priced it at $949,000, and 3 months later they had a contract and it closed today for $943,500 ($254/sf). A very nice price for today’s market, but still.

3641 E Via Alcalde Tucson, AZ 85718
(listed by Long Realty)

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that was fast

Just 22 days on the market and listed at $1,795,000 ($351/sf), 6470 N Thimble Pass is in contract today. But this is a gorgeous house so I’m not surprised.

I’d mentioned it here > looking for a contemporary in Ventana < when it was listed.

And given the quick contract we have to assume that the contract price is fairly close to the asking price. But we’ll see.

6470 N Thimble Pass, Tucson, AZ 85750
(listed by Long Realty)

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it went from listing to contract in 3 days

and sold today for $875,000 from a $915,000 list price.

That’s 3395 E Placita De La Jolla Del Sol Tucson, AZ 85718 (listed by Long Realty)

I mentioned it here > priced to sell < when it went to contract.

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in contract last week

from Monday August 6th thru Sunday August 12th 13 homes went to contract

11 were priced from $359,900 to $569,000
  1 at $649,000
plus Canyon Wind at $2,495,000 – though, while the MLS shows it going to contract on 8/8 and closing today, I have a sneaking suspicion that it may have gone to contract at some earlier date and was not entered in the mls until it was sure thing.

the report for the previous week is > HERE

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boo hoo, 3657 E Canyon Wind Place sold today

Many of these $2mil+ houses have been sitting on the market for years now and looked as if they’d never sell, and then POOF they’re gone. This year anyway, this is 4th one to go in the last few months.

Canyon Wind ended up selling for $2,150,000 ($345/sf) cash, from a $2,495,000 list price that was reduced from it’s original $3,800,000. That’s the highest $$ sale in the Canyons since July 2008 and also by far the highest $/sf sale since then. In the last 3 years sales in the Canyons have fallen into the $252 to $283/sf range (from the mid $400’s to the $500’s in the old days) And somehow Canyon Wind was able to break thru. Well it’s a better house than the others, I think. But still.

I mentioned Canyon Wind just last week when it went to contract > a big contract in the Canyons today < and when it was first listed in September 09 > a new listing, but definitely not the new math <

Earlier this year I had a buyer who was very interested in this house and though she planned to pay cash she wanted to have an appraisal done. So she had her bank arrange it and the appraisal, which I thought was very well done and spot-on accurate, came in at $2,000,000. 
But that was 6 months ago before homes priced at $2million+ started selling.

3657 E Canyon Wind Place, Tucson AZ 85718
(listed by Russ Lyon Sotheby's Int Realty)

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wheelin and dealin in Pima Canyon

Built in 2009, 7899 N Ancient Indian Drive hit the market today for the first time at $1,695,000 ($288/sf). But the plot thickens. The original owners, who paid $700,000 cash for the lot in 2007 and  took a $1.5mil mortgage to build the house, sold it privately to Consensos Ventures Llc this June for a measly $1,205,000 – cheap-cheap. That’s according to Pima county tax records - the sale info that is, not the cheap-cheap comment.

So Consensos Ventures Llc, stands to make a tidy and maybe even quick profit.
And aside from being adjacent to the Ancient Indian gate, it looks like a nice enough contemporary that also appears to be well equipped. And at $1,695,000 it’s well within the ballpark in PC.

The question is, why didn’t the original owners put it on the market instead of letting it go so cheap. ??

UPDATE; a reader of this blog informed me that the June sale at $1,205,000 was a trustee sale. For some reason it either wasn’t listed or I missed it on RealtyTrac.

UPDATE of the UPDATE; I’ve since been to see the house in person and, lordy lordy, all the appliances in the kitchen are brand spanking new – two Sub Zero’s, two Asko dishwashers, a big 6 burner Wolf range with oven plus a Wolf wall oven. So it looks as if someone did a little salvage work before moving out.

7899 N Ancient Indian Drive Tucson, AZ 85718
(listed by Tierra Antigua Realty)

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third times the charm

In Pima Canyon, 1495 E Canyon Spring Court finally sold today for list price at $985,000 ($270/sf) as a short sale. It was listed this January for $939,000 and went to contract twice, with both offers accepted by the seller. But mr lender wouldn’t have it and countered both offers at quite a bit more than list price. In one case more than $100,000 more. And as you might imagine, both buyers walked.

When those deals fell apart the list price was upped to $985,00 (presumably the amount mr lender would now be willing to take) and offer #3 eventually came in in April. I mentioned it here > more contracts < (could it be that the mr lender was convinced that at $939k they’d have a little bidding war and end up getting more than list $$. And when that didn’t pan out they just ignored the list price and countered at what they thought they should get – it wouldn’t surprise me) I’ll bet they were hung up on the fact that Canyon Spring sold in 06 for $1,550,000 and in 07 for $1,525,000. But then again, who wouldn’t be.

Anyway, I think the buyers got a terrific house at a very good price - if you like David Tyson’s homes this is very nice example of his work and on one of the most private lots in PC. 

And the listing agent, Bill Mac Morran, should get a medal for patience and persistence.

1495 E Canyon Spring Court, Tucson, AZ 85718
(listed by MacMorran & Assoc. R.E. Svcs)

it’s good to keep an eye on what’s happening around you

That said, here are some highlights of residential sales (including single family, townhouse, condo, mobile homes, etc) for the entire Tucson Metro, for July.

And as you’ll see it appears that sales and prices in Tucson are on the mend.
And unlike the data I publish for the foothills, I did not break a sweat pulling this together,
I merely lifted it straight from the Tucson Multiple Listing Service monthly report. 

- The Median Sales Price held steady at $140,000 for the third month in a row now, and has increased 12% from July 2011.

- Total Sales Volume decreased by 6.72% from June, but is up 6.32% from last year at this time.

- Average Sales Price increased 4.11% from $174,793 in June to $181,978 in July.

- Average List Price increased 4.14% over June and 3.71% over July 2011

- Total Under Contract decreased by 2.66% since June but has increased 29.17% since last July

- Total Unit Sales decreased by 10.40% from June and increased 1.16% from July 2011

- New Listings saw an increase of 3.97% over June and 45.14% over July 2011

- Average Days on Market decreased again slightly to 67

- Active Listings increased from 3,474 in June to 3,477 in July. Last July Active Listings were 5,412

- Percentage of Cash Transactions in July were 33.33%

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a big contract in the Canyons today

And it’s about time. 3657 E Canyon Wind Place, listed at $2,495,000 ($401/sf) is in contract.

Canyon Wind has been on the market since 2009 when it started at $3,800,000 and after a few big cuts reached $2.495 this March. This is a beautiful house in a knock-your-socks-off setting with awe inspiring views of the entire Tucson valley and the Catalinas. Absolutely stunning.
Stunning enough that, crappy economy, real estate bust and all, I’m surprised it took this long.

It last sold for $2,700,000 in 04. But given the record low prices that homes listed at around
$2 mil and up have commanded lately, I just don’t see how this one can do much better.

On the other hand at least this year there have been three sales in the foothills at $2mil & up, and this may squeak by as # 4. And all of them in the last 3 months. While during the same period last year there was just one 2mil sale.

I talked about the Canyons just the other day > they say things come in 3’s <

3657 E Canyon Wind Place Tucson, AZ
(listed by  Russ Lyon Sotheby's Int Realty)

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he who hesitates

4950 N Calle Bendita, Tucson, AZ 85718 was listed 4 days ago at $400,000 and is in contract today (listed by Coldwell Banker Residential Brokerage)

And quicker yet, 5201 N Via Condesa, Tucson, AZ 85718 was listed today at $459,000 and it’s in contract (listed by Long Realty)

gone in a flash

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a dozen in contract last week

from Monday July 30th thru Sunday August 5th 12 homes went to contract -
actually 16 went to contract, but 4 have already fallen out and are back on z market.

10 were priced from $199,000 to $599,900
plus two lucky home owners listed at $1,350,000 and $1,395,000

the report for the previous week is HERE

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my, how quickly things change

From WSJ.com    Florida Home Sells for $47 Million

A Florida home that originally listed for $60 million has sold for $47 million, a record for a single-family house in Miami-Dade County.

The high-end market in South Florida has picked up in recent months, with a number of sales well above the $10 million mark. The previous county record was broken in March when another home on Indian Creek sold for nearly $40 million to hedge-fund manager Edward S. Lampert, according to local brokers.

"The market has changed dramatically for the super high end," said Jill Eber, one of the property's Miami-area listing brokers. "These are prices that we've never, ever seen before."

and I wonder, where did Zillow come in on this $47mil  sale??

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another notch in the belt for Cat 10

3851 E PLACITA DEL CAMPEON was listed in January at $1,095,000 - and held there – and sold today for $1,045,000 ($222/sf).

This is the 8th sale in six months and the 9th for the year in Cat 10, which, like Pima Canyon, has made a strong comeback from the dark days of the RE bust.
With 5 for sale and 8 sold, Cat 10 is at a 3.75 month supply.

In Feb 2010 in >  strike 2 for Cat 10 < I noted there were 4 sales in the last six months and 18 homes remaining for sale – about a  27 month supply. And to make matters worse, the price of homes selling back then  vs. the price of those for sale was miles apart.

3851 E PLACITA DEL CAMPEON Tucson, AZ 85718
(listed by Long Realty)

And Zillow’s call on Campeon was $923,248

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and yet another mil+ contract

4511 N Hacienda Del Sol Road, listed in mid April at $1,395,000 ($302/sf), is in contract today.

4511 N Hacienda Del Sol Road Tucson, AZ 85718
(listed by Long Realty)

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reduced, 3 BIG ones

7474 N Catalina Ridge Drive, aka Campbell Cliffs, dropped from $15,900,000 to $12,950,000 today, ($518/sf). It’s been on and off the market since 2003 – listed as high as $22,000,000 – and today is at an all time low. Though, it should be noted, at $15,900,000 it included 20 acres and is now being offered with 6.67 acres. Still, it’s pretty fantastic and would also make an excellent corporate retreat, for Google or Apple or Facebook

I’ve talked about Campbell Cliffs a few times, most recently here >
Campbell Cliffs does The Wall Street Journal

7474 N Catalina Ridge Drive, Tucson, AZ 85718
(Russ Lyon Sotheby's Int Realty)

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July home sales and prices in the Tucson Foothills

The number of homes sold in July was down from June – 57 vs. 71 - but that’s to be expected. It’s a seasonal thing, sales fall in the foothills in the dead of summer.

 

But average and median price are both UP sharply for July. And at $514,021/$435,00, they’re higher than nearly every month going back to Jan 2011.

And the rise in prices is no surprise. Watching the day-to-day goings on in the market during the last month or so I’d have been very surprised if we didn’t see a price bump. But it’s still only one month, and one month is not enough to hang your hat on.

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in contract last week

That’s from Monday July 23rd thru Sunday July 29th, 13 homes went to contract.

9 listed from $225,00 to $495,000
1 at $699,900
and 3 biggies at $1,295,000, $1,590,000 and $1,975,000

so overall a modest take but with a few big fish

here’s a link to the previous week’s report > in contract last week,

see thefoothillsToday.com
to find your Catalina Foothills home

they say things come in 3’s

Good things, bad things, all kinds of things. If so they’ve got it in spades up in the Canyons.

3 homes sold in the last 3 years, (though at drastically reduced prices)

7203 N Cloud Canyon Place started out at $3,250,000 in 07 and sold for $1,400,000 in 2011

7454 N Secret Canyon, a spec home, debuted at $5,000,000 in 09 and went for $1,850,000 in 2011, as a foreclosure.

7417 N Secret Canyon Drive, also a spec, listed for $4,500,000 in 08 eventually sold for $2,050,000 this May. And they all sold in the range of $250 to $283/sf. Cheap-cheap for the Canyons where, in the good old days, homes routinely sold in mid $400’s to over $500/sf.

then in the 3 months of May, June and July of this year 3 homes for sale in the Canyons called it quits,

3508 E Secret Canyon Place started out at $4,200,000 in 2010 and dropped out in May at $3,200,000

7391 N Finger Rock Place didn’t dawdle quit as long, it was listed in 2011 for $2,995,000 and dropped out in June at $2,795,000

7557 N Secret Canyon Drive was asking $5,500,000 in 2010 and left the market yesterday at $3,250,000

And that leaves just 3 for sale from $2,495,000 to $7,900,000 and from $400 to $591/sf.

Maybe they’ll be the lucky 3.

see thefoothillsToday.com
to find your Tucson Foothills home