During the boom Pima Canyon was ground zero for spec homes. At one point there were something like 18 multi-million $$$ specs for sale in PC, and 7808 N Ancient Indian Drive was one of the lucky ones. It sold in 2005 as a new spec for $2,650,000 ($379/sf). But in 2005 prices were still rising steadily, so 6 months later, and with a straight face, the new owner listed it for $3,899,000 ($560/sf). And by 2011, after dropping to $1,990,000, along came a lucky buyer who sealed the deal for $1,600,000 ($229/sf).
And that buyer listed it this past August for $1,789,900 and it went to contract in 3 days, but also fell out in 3 days. And nothing more until yesterday, by which time it had dropped to $1,689,900 ($243/sf), when it once again went to contract.
7808 N Ancient Indian Drive E , Tucson, AZ 85718
(listed by Tierra Antigua Realty)
Nowadays, the few specs that we do see are usually of much more modest proportions and prices.
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