Built in 2002, 5271 N Calle Oreo sold in 2004 (2 years before prices peaked) for $1,500,000, and was listed last November for $1,525,000 ($265/sf).
And on paper that may not seem way out of whack as a starting place for negotiations.
But in reality it didn’t fly, and neither did the half dozen price cuts that followed, and it ended up selling today for peanuts, $936,900 ($163/sf), as a short sale.
On the other hand the short sale process, which often drags on forever, went very well and quickly too - from contract to closing in just under 2 months.
5271 N Calle Oreo Tucson, AZ 85718
(listed by Long Realty)
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