Looking at recent home sales it’s pretty clear that if you bought a home in the Catalina Foothills in the past 8 or 9 years, and, occasionally, even further back, that selling it now may well result in a sale price that’s less than you hope for and less than you paid back then.
Homes are selling OK, but fewer than last year and fewer than sold in 2012. But prices are up from their bottom in 2012, but by no means way up, and nowhere near their boom time highs.
So it’s an iffy market. And in order to sell many sellers are taking a big hit on the sale of their home. And this is occurring all across the foothills, in all price ranges and neighborhoods. Though, for a variety of reasons, some are taking a bigger hit than others.
Here are a few recent examples;
In Cimarron, 5851 N Placita Joyita sold for $556,000 in 2005 and for $400,000 last week.
In Coronado Foothills Estates, 6521 N Columbus Boulevard went for 783,500 in 2006 and for $550,000 the other day.
7232 E Calle Los Arboles sold for $500,000 in 2002 and for $425,000 last week.
In Cat 7, 1000 E Via Entrada squeaked by selling for $436,000 last month after paying $400,000 in 2004. Though the sellers also spent a few bucks on improvements.
They really got hosed over at 3950 N River Bluff Place. They paid $947,500 in 2008 and it sold last month for $432,000, as a foreclosure. But they bought a $900k home in a (just barely) $400k community, so no surprise there.
In Shadow Hills, the sellers of 861 E Placita De Arnoldo paid $693,500 in 2008 and sold for $590,000 last week.
Fortunately, the sellers of 2457 E Calle Sin Condena bought at the bottom in 2012 for $803,000 and managed to get $815,000 this week. But add in commissions, closing costs, etc, and they’re still out $35k or more.
Over at 3440 E Via Alcalde the sellers happily paid $1,450,000 in 2007 and the best they could do this time round was $1,080,000.
1347 E Desert Garden Drive, in Pima Cyn, sold for $1,075,000 in 2012 and for $945,000 recently.
5543 N Camino Real sold for $1,000,000 in 09 and for $900,000 last month.
In Alta Vista the sellers of 6280 N Paseo Valdear also squeaked by. They paid $800,00 in 03 and 11 years later sold it for $822,500.
In La Puerta, 3545 E Calle Puerta De Acero sold for $2,100,000 in 04 and for $1,550,000 earlier this year.
And, the bigger they are …, 6268 N Whaleback Place sold for $3,100,000 in 08 and for a disappointing $2,000,000 last month.
On Sabino Mountain, 7788 E Tumbling Rock Drive went for $1,375,000 in 08 and $1,040,000 recently.
And these are just recent examples, there are many others. And there are also many other homes that are still on the market, and have been for eons, that haven’t sold. Because they’ve held tight to asking prices that buyers are not willing to pay, and are waiting for something, I’m not sure what, maybe magic, to happen.
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