in Catalina Foothills Estates #8, 2337 E Miraval Segundo, a small and vintage 1977 burnt adobe sold in 2007 for (Big Bucks) $462,500 ($265/sf)
when it looked pretty drab, like this
But the new owners gutted, renovated and remodeled it from stem to stern to look like this;
And you’d think, I would anyway, that with all that renovation and a totally new and beautifully done interior that selling it today they’d do better than $435,000 ($248/sf). You’d think, but you’d be wrong. It sold quick, in 6 days, but for $27,500 less than they paid in 07, plus whatever the renovation cost they gave that away for free.
And while I don’t doubt that you might find a buyer willing to pay more for it, chances are you’d run into a problem with the appraisal.
Check it out, there many more pictures
2337 E Miraval Segundo Tucson, AZ 85718 (link to expire 7/20/14)
(Coldwell Banker Residential Brokerage)
PS- Zillow pegged it at $393,563
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