The market has improved and more homes are selling, and in some cases prices may even be rising a teensy bit, but for those who bought from 2003 or 04, up thru 2011, they are still very likely to take a hit if they sell now. The question is how big a hit. And that depends on when you bought – the worst years were 06 & 07 which, back then, looked like the absolute best years - and of course on how good or not so good a deal you made when you bought (with hindsight, almost no one got a good deal back then, you either overpaid or you grossly overpaid). Here are a few homes that sold back then and sold again in the last few weeks in the Tucson Foothills. OUCH!
The sellers paid $625,000 in 2005 for 4321 E Havasu Road and sold it today for $378,500.
(listed by Long Realty)
6300 N CAMINO ARTURO sold for for $499,000 in 05 and for $444,000 the other day. (listed by Long Realty)
6413 E Calle De Mirar sold for $530,000 in 03 and $500,000 the other day . (listed by Long Realty)
6186 N Placita Pajaro - $670,000 in 07 and $575,000 earlier this month . (listed by Long Realty)
3714 N Camino Rio Soleado went for $769,900 in 05 and for $640,000 last week. (listed by Long Realty)
The sellers paid $1,475,000 for 6330 N Whaleback Place in 04 and sold it this month for $1,215,000. (listed by Long Realty)
And then there’s always the exception, and this month it’s 4341 N Placita Camaleon. It sold in 2011 for $1,725,000 and again this month for $1,912,500. (listed by Long Realty) Go figure.
The good news is that we are seeing fewer of these lopsided sales and the price gap between then and now has, I believe, stopped growing.
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