The Catalina Foothills

activity in the Catalina Foothills on this rainy Friday

Two new listings, one at $1,449,000 in Pima Canyon, another in the Canyons at $2,750,000. And a contract for a house in Foothills ll listed at $1,045,000 (the 6th $1,000,000+ contract this year)

And this may seem absurd. But because of the newly published Data Distribution Guide rules from the Tucson Association of Realtors®/Multiple Listing Service I’m afraid that I can’t list the addresses of those homes, lest I be found guilty of advertising homes that are not my listings. But if you don’t mind jumping through a hoop or two, you can find them easily enough.

Just click to the Search by Subdivision page of my web site and then click on each of the subdivision names.

Hopefully, this is a temporary workaround until I figure out a better way to do this while still being in compliance with the new restrictions. I welcome your suggestions.

A quick peek at the gist of the new guidelines;

The Tucson Association of Realtors®/Multiple Listing Service has  published it’s new Data Distribution Resource Guide which now prohibits the “mass distribution” (their words) of many forms of MLS data.

As stated in the Data Distribution Resource Guide;
_________________________________________________________________

“Distribution of MLS content to the masses is extremely narrow in scope and not permissible in most instances”.

The definition of the masses is large groups of unassociated individuals with no established broker client relationship who are not ready, willing, and able to purchase properties.

In general, the masses are:

:Website visitors

:Neighborhood farms

:Social Media Followers
_________________________________________________________________

And that’s you, the masses, the readers of this blog. So my hands are tied and, unfortunately, from here on in, you can expect much less information from this blog and from other Tucson area real estate blogs.

The irony is that Zillow, Trulia and gazillions of other websites are exempt from these rules. They only apply to Realtors®, those of us who actually pay to be members of the TAR/MLS.

A complete copy of the Data Distribution Resource Guide is available for download at the Tucson Association of Realtors Website – HERE

I apologize for the inconvenience, 
John Schneider

see TheFoothillsToday.com
to find your Catalina Foothills Home

in contract last week, 1/19 – 1/25

From Monday January 19th through Sunday January 25th, 20 single family homes went to contract in the Catalina Foothills.

19 were priced from $260,000 to $599,000
1 at $659,950
0 at $1,000,000 & UP

Meanwhile,there are;
231 homes for sale from $0 to $599,999
129 for sale from $600,000 to $999,999
97 for sale from $1,000,000 & UP

Lower-end contracts made a dent in the inventory, but nothing else did.
The report for the previous week is HERE

**
You may be wondering why there is no link, as there usually is, to the 20 homes that went to contract. The reason is the Tucson Association of Realtors/Multiple Listing Service has  published it’s new Data Distribution Resource Guide which now prohibits the “mass distribution” (their words) of many forms of MLS data.

As stated in the Data Distribution Resource Guide;

“Distribution of MLS content to the masses is extremely narrow in scope and not permissible in most instances”.

The definition of the masses is large groups of unassociated individuals with no established broker client relationship who are not ready, willing, and able to purchase properties.

In general, the masses are:

:Website visitors

:Neighborhood farms

:Social Media Followers

And that’s you, the readers of this blog. So my hands are tied and unfortunately, from here on in, you can expect much less information from this blog and from other Tucson area real estate blogs.

The irony is that Zillow, Trulia and many other real estate websites are exempt from these rules. They only apply to Realtors®, those of us who actually pay to be members of the TAR/MLS.

A complete copy of the Data Distribution Resource Guide is available for download at the Tucson Association of Realtors Website - HERE

 

see TheFoothillsToday.com
to find your Catalina Foothills Home

a boost for Cimarron

6210 E Via de la Yerba was listed at $768,500 and sold for $745,000 ($215/sf).  
Of the 9 homes sold in Cim in the last six months, Yerba was the highest sale price and also the highest $$/sf sale price. And they pulled it off in just 29 days.

It’s also the 2nd highest price paid in Cim in the last three years!

There are 7 for sale in Cimarron, 4 in contract and 9 sold in the last six months which = a tidy 4.6 months of inventory. (the link updates continuously with new listings added and sold homes deleted)

6210 E Via de la Yerba Tucson, AZ 85750 (link expires 2/27/15)
(listed by Tierra Antigua Realty)

see TheFoothillsToday.com
to find your Catalina Foothills Home

is it bigger than a breadbox

It sure is. It’s 10,528 sf bigger than a breadbox, more than big enough for even the Brady Bunch, + a 2800 sf indoor pool area.

3900 N Camino Blanco Tucson, AZ 85718 just returned to the market after a short break, now listed at $1,195,000, just $113/sf. Awfully Cheap-Cheap. This may be good timing on the sellers part; last November I noted that big homes were making a comeback in the foothills -

Are bigger homes (let’s say above 5500sf) making a comeback.Looking at the numbers it sure looks like it. 16 homes from 5600 to 7,500 sf have sold during the last six months. And there are 6 more in contract from 5,600 to 10,300 sf.

The last time that many big homes sold (during the same 6 month period) was 2005 when 17 sold. During the same period last year there were just 4 sales of homes above 5500sf.  

Camino Blanco was first listed in 2007 as a new spec home at $3,4000,000 and sold as a foreclosure in 2010 for $710,000 (yep, $710K). I haven’t seen it since the 2010 sale but it appears that the new owners have spiffed it up and brought it back to life.

Check it out,
3900 N Camino Blanco Tucson, AZ 85718 
(listed by Long Realty)

for what it’s worth, Zillow zestimates it at $1,521,463

see TheFoothillsToday.com
to find your Catalina Foothills Home

not everything is gathering moss

in the last 2 weeks 11 homes went to contract in 14 days or less.

4733 N Sandstone Place Tucson, AZ 85750 ($225,000) –  2 days (listed by Long Realty)

4870 N Hummingbird Lane Tucson, AZ 85750 ($299,500) – 3 days (listed by Tierra Antigua Realty)

6132 E Calle Ojos Verde Tucson, AZ 85750 ($260,000) – 5 days (listed by Tierra Antigua Realty)

5141 E Camino Bosque Tucson, AZ 85718 ($499,999) – 6 days (listed by Tierra Antigua Realty)

6171 N Camino Almonte Tucson, AZ 85718 ($425,000) – 6 days (listed by Tierra Antigua Realty)

6335 N Via Jaspeada Tucson, AZ 85718 ($465,000) – 7 days (listed by Tierra Antigua Realty)

7841 N Village Avenue Tucson, AZ 85704 ($280,000) – 7 days (listed by Long Realty)

7417 N Calle Sin Celo Tucson, AZ 85718 ($695,000) – 11 days (listed by Long Realty)

5708 E Rio Verde Vista Drive Tucson, AZ 85750 ($479,900) – 11 days (listed by Tierra Antigua Realty)

7721 E Calle Del Minique Tucson, AZ 85750 ($335,000) – 13 days (listed by Long Realty)

6930 N Montezuma Drive Tucson, AZ 85718 ($389,000) – 14 days (listed by Long Realty)

See them HERE  (link expires 2/25/15)

29 others took longer, some a lot longer.

Though, as you may have noticed, with just one glaring exception, they are all priced under $500,000.

see TheFoothillsToday.com
to find your Catalina Foothills Home

3rd and 4th $1,000,000+ contracts this year

(and a 5th added later in the day)

In Finisterra, 6261 E Vista Del Canon, (mentioned the other day – looking for a deal) which recently dropped from $1.595 to $1.195, has quickly reaped the rewards of that move and is  
reported in contract today. You can’t help noticing a $400k price cut.

A Sante Fe, Del Canon is a custom built, one owner home, built in 1994, and now changing hands for the first time. 6261 E Vista Del Canon Tucson, AZ 85750 (listed by Long Realty)
(link will expire when contract goes PENDING)

And in Alta Vista, 6361 N Placita Derrumbadera, listed at $1,295,000 ($335/sf) just 21 days ago, is also in contract today.

Derrumbadera was also built in 1994, and last sold in 1998 for $650,000. And sometime between then and now had a total, and pretty splashy, renovation. Which apparently paid off.

6361 N Placita Derrumbadera Tucson, AZ 85750
(listed by Long Realty) (link will expire when contract goes PENDING)

The 1st and 2nd $1,000,000 contracts this year were HERE and HERE

UPDATE (later that same day)

and now the 5th $1,000,000+ contract this year

In La Paloma Estates, 3288 E Camino Juan Paisano, listed 118 days ago at $1.3 and dropped to $1,250,000 ($303/sf), has also found a buyer.

End of the cul-de-sac and awfully good looking, what’s not to like.

3288 E Camino Juan Paisano Tucson, AZ 85718
(listed by Long Realty)  (link will expire when contract goes PENDING)

see TheFoothillsToday.com
to find your Catalina Foothills Home

looking for a deal

One popular way of finding homes that may be a good deal is to look for homes that have been on the market for long time and haven’t sold. This usually happens because they started off priced way too high for the market, so buyers ignored them, and there they sat. Self inflicted.

But eventually many of them cut their price and cut it again and again, and may now be close to a fair market price, or at least in the vicinity of being in the ball park. You know, within striking distance. But they’re still ignored because, well, they’ve been on the market so long that everyone assumes there’s something wrong with them. The, “if no one else wants it why would I want it”, syndrome. Which is understandable. But in many cases the only thing wrong with it was the starting list price that the seller hung to for so long. And for sellers who’ve been trying to sell for so long and getting nowhere, it’s not unusual for them to eventually change their tune and be more accommodating and flexible and appreciative of your offer, and occasionally even ready to throw in the towel. Some are, some aren’t.

The following is a short selection of homes that have been on the market for a long time, and are now priced quite a bit less than when they started. And therefore may offer an opportunity for a good deal. Also included are a few homes that do not meet the above criteria but which, for one reason or another, I think may be good deals. Nothing here is sure-fire, only possibilities that may warrant further investigation. 

In any case, in order to get a really good deal, you have to be willing to fail, to make offers and have them rejected. And if you and the seller can’t get anywhere, you have to be able to move on to another opportunity, until one finally clicks.

In Skyline CC, 6685 N Los Leones Drive , Tucson, AZ 85718 was $1,150,000, is now (after 194 days) $799,000 ($177/sf). Though this is a range priced listing, stating the seller will consider offers from $799,000 to $999,000 – I wonder, is anyone going to offer more than $799,000.
And while I have no idea whether this seller will stick to their guns or not, in fact, plenty of range priced homes sell for under the bottom of the range. This last sold in 2000 for $610,000. (listed by Golden West Realty & Invest 116)

In River Heights, 4103 N Lindstrom Place , Tucson, AZ 85750, was $995,000, is now (after 353 days) $835,000 ($166/sf). (listed by Long Realty)

In Ventana Vista, 6039 N Pinchot Road , Tucson, AZ 85750, was $1,400,000, is now (after 625 days) $850,000 ($202/sf).

In Skyline CC, 5030 E Oakmont Drive , Tucson, AZ 85718, is $865,000 ($218/sf) and on the market 132 days, with no price cuts. But sold in 2006 for $1,195,000 ($302/sf). So it’s asking 27% less than it sold for in 06. (listed by Long Realty) That doesn’t necessarily make it a good deal, but it could be.

In Catalina Foothills Estates, 4907 N Camino Escuela Tucson, AZ 85718, was $1,149,000, is now (after 3 years on and off the market) $899,900 ($196/sf). It sold in 2008 for $1,250,000 ($280/sf) –  now 28% under its 08 sale price. (listed by Long Realty)

In Catalina Foothills Estates 10, 4555 N Via De La Granja , Tucson, AZ 85718, on and off the market since July 2013 (a short sale) was $1,600,000, is now  $995,950 ($162/sf). A lot of house for the money. (listed by Long Realty) 6169 sf, masonry construction, 5 beds/6.5 baths, 4 car garage, 1.5 acres in gated Cat 10. Probably needs some updating, but at this price…

In Finisterra, 6261 E Vista Del Canon, Tucson, AZ 85750, a Sante Fe, it started at $1,595,000 (251 days ago) and in one fell swoop dropped to $1,195,000 ($215/sf) three weeks ago. A big cut like that is usually a pretty good sign the seller wants to move on. (listed by Long Realty)

in the Mountain Estates at Ventana, 6755 N Hole in the Wall Way , Tucson, AZ 85750.
If you want grand, posh and opulent, this one has it in spades, along with incredible valley and mountain views. Incredible. It sold in 06 for $2,450,000 and in 2010 it sold again for $2,200,000. But it was a short love affair, and in 2012 it was listed again for the sure-to-fail price of $2,600,000. And, sure enough, it failed. Relisted with a different broker it hit the market again in October 2013 at $2,200,000, and now it’s $1,999,000 ($312/sf) – just 18% less than it’s top of the market 06 sale price.  On the other hand, if you look at overall average/median sold prices in the foothills, they’re right where they were in 2010, when this sold for $2.2.

So who knows. I include it because it is quite grand. And while it may not qualify as a drop dead deal, (of which there are very few these days) the price is no longer out of line, and if you want grand and opulent and you want it in the Mountain Estates, this is a pretty good choice.  (listed by Long Realty)

see TheFoothillsToday.com
to find your Catalina Foothills Home

those were the days

Built in 1999 as a spec home, 2203 E Quiet Canyon Drive was amongst the first homes built in Pima Canyon. And the builder, who was living in his creation, listed it in 2000 for $675,000. But it didn’t sell. So in 2002 he listed it again for $675,000, and again no sale.

And while he was probably pulling his hair out, unbeknownst to him, this was his lucky day. So after two swings and no hits it left the market. And then in 2004, sensing a definite upswing in the market, it was listed again, but this time for $985,000. And talk about a lucky guy, it still didn’t sell.

Because in June 2005, with the market going absolutely crazy, it was listed for the 4th time, for $1,350,000, and sold in 06 for $1,126,664 – way (67%) over its 02 asking price.

And today, mindful of our still rather limp market, it’s been listed for $999,900, and, according to the listing, “exquisitely remodeled with high end appointments throughout’”, thrown in.

2203 E Quiet Canyon Drive Tucson, AZ 85718
(listed by Long Realty)

This makes it 6 for sale in PC, from $999,900 to $3,250,000

see TheFoothillsToday.com
to find your Catalina Foothills Home

Supply & Demand since January 1st, 2015

Here’s a peek at the real estate activity in the Catalina Foothills for single family homes since January 1st.

First up is the number of new listings vs... the number of new contracts since Jan 1

228% more listings than contracts, Ah, well, it’s good for buyers.  

How about the list price of new listings vs... new contracts,

A dubious honor, but new listings again take the cake, they’re 53% higher priced than new contracts. But that gap has narrowed since last year.  I did the same comparison last January 2014, and back then new listings were almost 90% higher priced than new contracts.

So where’s the big difference coming from. It’s not the average price of new contracts, they’re about the same for both years. The difference is in the average price of new listings – last year they averaged $880k, this year they’re $680k.

see TheFoothillsToday.com
to find your Catalina Foothills Home

Gated or not, $$/sf prices moving slowly

For single family homes sold in Catalina Foothills,

After hitting bottom in 2012 $$/sf sold prices finished 2014 up 4.6% in gated and 7.3% in non-gated communities. Not terrible, unless you bought in 2005 to 2008 and are looking to sell today. Then it’s pretty bad.

For other recent (and equally fascinating) yearly sales and price reports click
HERE HERE HERE HERE & HERE - and that should do it for 2014 sales data. Yeah!

see TheFoothillsToday.com
to find your Catalina Foothills Home

January 19th

Two years ago, 5141 E Camino Bosque went to contract in 4 days for $425,000 and closed on January 19th, 2013.  And 6 days ago it was listed again, this time for $499,999, and it went to contract today – January 19th. That’s a pretty good coincidence and, assuming it went for pretty close to list, a pretty good price jump for 2 years. And, 2 quick contracts.  
 In Skyline Bel Air , where there are 9 others for sale.

more on SBA

5141 E Camino Bosque Tucson, AZ 85718 (link expires 2/18/15)
(listed by Tierra Antigua Realty)

see TheFoothillsToday.com
to find your Catalina Foothills Home

 

in contract the first 2 1/2 weeks

From Thursday January 1st through Sunday January 18th 35 single family homes have gone to contract in the Catalina Foothills. (link expires 2/18/2015)

28 were priced from $179,900 to $599,900
5 from $625,000 to $975,000
2 at $1,000,000

A pretty decent start for the New Year.

see TheFoothillsToday.com
to find your Catalina Foothills Home

 

5 days and sold for a tad over list

6930 N Chaparral Place, a 1980 sw contemporary that was re-imagined and remodeled as slicker, more modern contemporary, was listed on 11/18/14 for $599,000, snapped up in 5 days and closed today for $605,000. 

6930 N Chaparral Place Tucson, AZ 85718 (link expires 2/14/15)
(listed by Long Realty)

see TheFoothillsToday.com
to find your Catalina Foothills Home

2nd $1,000,000 contract this year

This time in Alta Vista, 6661 N Placita Alta Reposa, listed for a cool million, found a buyer today after 470 days of searching – first listed at $1,150,000 then at $1,100,000 and reduced last week to $1,000,000, and that did it. Just like the house I mentioned yesterday that got lucky as soon as it dropped to a cool $1,000,000.

6661 N Placita Alta Reposa , Tucson, AZ 85750 (lnk expires 2/17/15)
(listed by Long Realty)

Ancient History 101;
Alta Reposa sold for $1,200,000 in 2004 and was listed for $1,795,000 in January 2009.
And maybe it just seemed like the thing to do, because so many others were doing it. 
Listing their homes for comically astronomical amounts while we were in the throes of the biggest financial meltdown in modern times. As if, because ground zero for the meltdown was NYC, it somehow had nothing to do with us here in sunny Tucson. And none of them sold for those pie-in-the-sky prices. And the lucky ones that didn’t end up in foreclosure, ended up selling years later for pennies on the $$. Ahem!

For extra credit, here’s more fascinating reading from those wonderful days of the financial meltdown -  they're comin' outta the woodwork  < > I don't know what, or if, sellers of over-priced homes are thinking > trying to sell your home

I could write a book on this stuff, a short and boring one, for sure.

see TheFoothillsToday.com
to find your Catalina Foothills Home

from peak to trough to now, January 2015

with sold prices for single family homes in the Catalina Foothills.

A chart I posted the other day showed that average sold prices had dropped 32% from their peak in 2006 to their bottom in 2012, and have inched up just 7% since then. But that’s overall, for all homes in all subdivisions throughout the foothills. And there’s a big difference in home values and sold prices and how they’ve fared in, say, Fairfield and in Pima Canyon.
More telling, and more interesting, I think, is to look at sold prices in individual areas and subdivisions.

So instead of clumping all of the foothills together, in the table below I’ve focused on individual subdivisions, showing average sold prices for the peak year of 2006, to the bottom in 2012, to where they ended up in 2014. Next to the sold price is the % change from peak to trough and from trough to now (2014). (sold prices are averages of all sales for the full year shown)

Caveat - while the ups and downs of sold prices in the various subdivisions do reveal an evident up or down trend, they are more likely a reflection of just that, an overall trend in sold prices (and of what was selling at that time) in those subdivisions, rather than an accurate predictor of the increase or decrease in the value of individual homes. For that you would need to take it a step further and compare comps of similar homes in those subdivisions.

Area	2006	2012	2014
All Foothills Sales	$681,442	$460,382   (-32%)	$491,938  (+7%)
Shadow Hills	$641,393	$436,962   (-32)	$463,022 (+6)
Pima Cyn	$1,849,533	$1,207,382 (-35)	$1,235,292 (+2.3)
Sin Vacas	$979,250	$687,458 (-30)	$646,642  (-6)
Cat Foothills 1-9	$784,527	$561,704 (-28)	$619,906  (+10)
Cat Foothills 10	$1,205,000	$1,080,107 (-10)	$988,409  (-8)
La Paloma Estates	$1,962,400	$1,148,000 (-41)	$826,583  (-28)
La Paloma (not Est)	$706,513	$485,236 (-32)	$577,492  (+19)
Cobblestone	no sales	$1,004,965 (?)	no sales (??)
Canyons	no sales	$2,100,000 (?)	$2,937,500  (+40)
Hac del Sol Est	$1,300,000	$822,500 (-36)	$806,000 (-2)
Foothills ll	$1,062,500	$1,119,875 (+5)	$1,043,000 (-7)
Pinnacle Ridge	$965,833	$643,786 (-33)	$787,300 (+22)
Skyline CC	$1,170,455	$681,571 (-42)	$777,867  (+14)
Alta Vista	$1,019,770	$863,583 (-15)	$739,167 (-14)
Cimarron	$681,583	$487,257 (-28)	$501,800 (+3)
Fairfield	$586,052	$354,460 (-39)	$409,565  (+15)
Villages of Ventana	$451,729	$331,300 (-27)	$316,017 (-5)
Ventana Golf Villas	$605,878	$357,877 (-41)	$379,714  (+6)
Ventana CC, Cyn Est, Whalebck.	$1,329,740	$1,067,900 (-20)	$901,181  (-15)
Ventana Cyn Mountain Est	$2,091,833	$1,700,000 (-19)	$1,675,000 (-1.5)
Sabino Mtn	$864,550	$347,369 (-60)	$595,026  (+71)

While there are areas that have weathered the storm somewhat better than others, the numbers, nevertheless, still point to a painfully slow recovery.

Click any of the highlighted subdivision names to see all the homes currently for sale.
**the links for the 2 areas of La Paloma and for the 3 areas of Ventana – Golf to Mountain Est - will show all the homes in La Paloma & in Ventana, and not just in the individual areas.

see TheFoothillsToday.com
to find your Catalina Foothills Home

first $1,000,000 contract this year

In Skyline Country Club,
6500 N Saint Andrews Drive, listed at $1,000,000, went to contract yesterday after just 70 days. And, oddly enough, it was listed last November for $985,000 and the listing was canceled on Jan 9th and relisted for $1,000,000, the magic number. And it promptly went to contract on the 13th.

It also has a colorful past. Originally built as 3206 sf in 1967, it sold in 2004 for $480,000 and was gutted, enlarged and rebuilt in 2006, (previously profiled HERE )  and listed for $2,100,000. But even in 06, when almost anything went, that price kinda squelched all interest in it, and after many moons and many price cuts it sold for $700,000 as a foreclosure in 2010.
And here it is climbing the charts again. (listed by Long Realty)

Skyline CC also gets honorable mention for the highest sale price so far this year.
5238 E Mission Hill Drive, a nicely remodeled 1967 burnt adobe was listed for $749,000, went to contract in 67 days and closed today for $745,000 ($227/sf). (listed by Long Realty)

See them HERE (link expires 2/13/2015)

see TheFoothillsToday.com
to find your Catalina Foothills Home

the Tucson Real Estate market

In case you are interested, this is for the entire Tucson market, the whole enchilada, not just the Catalina Foothills.

Courtesy of Real Estate Daily News

TAR: Tucson Housing market stable, 2015 set for continued improvement

Published January 14, 2015 | By Editor

The regional Tucson housing market appears to have reached stability during 2014, based on year-end data from the Tucson Association of REALTORS® Multiple Listing Service (TAR/MLS). Although 2013 was slightly better based on straight statistics, 2015 is shaping up as a year of continued improvement.

“During 2014, most of the housing and economic metrics relevant to Tucson moved solidly in the right direction.  Although price growth flattened out, most of the local housing and economic factors are fundamentally better.  That leads us to believe that 2015 will be a year of stability, enabling our housing market to continue to progress,” said TAR President Nicole Brule-Fisher.

“The big monthly swings in selling prices, the impact of buy-and flip cash investors distorting our market, and the era of skyrocketing foreclosures are likely over.  This shows evidence and signs of a more sustainable, healthy market that is in recovery mode,” she added.

Year-over-year, the Average and Median Selling Prices were moderately higher.  Unit sales only dipped by 759 homes, keeping the total sales volume basically flat at $2.7 billion.

The most notable gain was in listings as 2014 ended with 8.3% more homes in inventory (5,577 units, an increase of 427 homes).

Before The Great Recession, the Average Selling Price at year-end peaked in 2005 at $267,044.  It hit bottom in 2011 at $161,471.  It stands at $205,015 currently; 23.2% below the peak.

The Median Selling Price at year-end also peaked in 2005, at $221,900.  The bottom was in 2011 at $120,000.  The current level of $165,000 is 25.6% below the peak, according to TAR/MLS.

As the housing market recovered, the Median Selling Price spiked 22.9% from 2011 to 2012.  That preceded an additional price appreciation of 7.1% from 2012 to 2013; followed by another 4.5% price gain during 2014.

“As these price increases gradually flatten out, this shows signs of a healthy market in recovery.  There are tremendous opportunities for first-time buyers in our current market with near record-low interest rates.  This translates to more home for the first-time buyer and with each payment made, that builds equity in what is likely their single-largest investment,” Brule-Fisher said.

“Overall, our current home market is very good for Tucson and our strengthening economy.  These traditional buyers want a home to live in and thereafter, have an increased commitment to and investment in, the community,” she added.  “In 2015, that will help to drive the real estate market back toward normality.

2014 Year-over-year Housing Highlights

• Sales: 13,184 home sales in 2014 were 5.4% less than 2013 (13,943 homes)
• Total Sales Volume:  $2.685 billion in 2014 was basically flat with 2013 ($2.681 billion)
• Medium Sales Price:  $165,000 in 2014 was 4.5% higher than 2013 ($157,900)
• Average Sales Price: $205,015 in 2014 was 1.3% higher than 2013 ($202,342)
• Active Listings:  5,577 homes in 2014 were 8.3% more 2013 (5,150 homes)

see TheFoothillsToday.com
to find your Catalina Foothills Home

the latest

Check out the Market Snapshot (link up above). The market snapshot table has been updated with the latest numbers. And also the charts, which now show complete yearly sales numbers for 2004 – 2014- for single family homes in the Catalina Foothills.

And other than new listings, it’s pretty quiet.

see TheFoothillsToday.com
to find your Catalina Foothills Home

 

Catalina Foothills Estates

Are you looking for an established area, an area of character and charm, with homes in a variety of styles, sizes and prices - an area that’s about as far from cookie-cutter as you can possibly get. Then you may want to start your search in Catalina Foothills Estates. This is where the first homes in the foothills were built in the 1930’s by the developer John Murphey and Josias Joesler, a Swiss architect. Since then, and to this day, homes continue to be built, re-built and remodeled in Catalina Foothills Estates.

The Catalina Foothills Estates is comprised of nine areas or subdivisions. Catalina Foothills Estates is the first and original of the nine, and from there they’re numbered, Catalina Foothills Estates 2, Catalina Foothills Estates 3, and so on up to Catalina Foothills Estates 9.

Looking at the current roster of homes for sale they start at $379,000, and covering just about every price range in between, go up to $3,250,000. They range from 1700 up to 7300 sq. ft., and were built from 1936 (3 for sale built in 36) right up to 2014. And they run the gamut of styles from a variety of Joeslers to Sante Fe, Territorial, Mediterranean, Southwestern, South West Contemporary,  Contemporary, Spanish Colonial, Ranch and others that are an eclectic mix.

However, all Catalina Foothills Estates homes do have a few things in common – a lush Sonoran desert environment in a fantastic foothills location.  And, as I’ve often observed,
home owners in Catalina Foothills Estates are especially pleased with and proud of where they live, and are eager to preserve the area and the quality of life that it affords them.

see TheFoothillsToday.com
to find your Catalina Foothills Home

it’s a start

Since Jan 1, 15 homes have gone to contract in the Catalina Foothills. (link expires 2/8/15)

14 are priced from $224,000 to $599,900
+ 1 at $729,000
and that’s it!

On the for sale side, there are 70 new or newly relisted homes since Jan 1, for a total of;
232 from $0 to $599,999
111 from $600,000 to $999,999
95 from $1,000,000 & UP

Best Wishes.

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to find your Catalina Foothills Home

how to make a quick buck on a house in Pima Canyon

Step 1. buy the cheapest house in there

Step 2. sink about $100k into it so it doesn’t look like the cheapest house in there

Step 3. put it on the market for $400,000 more than you paid

Step 4. sell it for $315,000 more than you paid and net about $150,000 in 18 months.

That’s what they did at 7373 N Mystic Canyon Drive. They paid $670,000 in 2013 and, guessing generously, put about $100k into it. They got rid of the gee-gaws and funky finishes, and then the big money went into transforming the drab looking backyard, which was a blank slate. They added a beautiful pool, a fireplace + some simple but striking landscaping.

Then they put it on the market for $1,099,000 and sold it 4 months later for $985,000.
It closed on 10/30/2014, and I meant to write about it back then, but I was up my eyeballs in alligators.

I showed this house to a few different buyers before the 2013 sale, and extolled the virtues of buying the cheapest house in there. And there wasn’t anything wrong with it, it just needed some cosmetic fixes here and there. And then tackle the backyard. But none of my buyers went for it.

Here’s a sample of what it looked like with and without gee-gaws and funky finishes.

 

 

The backyard is on the small side and the pool is not nearly as big as it looks thru this wide angle lens

 

7373 N Mystic Canyon Drive Tucson, AZ 85718 (BEFORE)

7373 N Mystic Canyon Drive Tucson, AZ 85718 (AFTER) (links expire 2/7/2015)

In 2014, 12 homes sold in Pima Canyon from $890,000 to $1,999,500 at an average/median of $1,235,292/$1,260,000. So at $670,000 there was plenty of room to move up.

see TheFoothillsToday.com
to find your Catalina Foothills Home

Foothills Clusters

If you’re looking for a well located, low cost single family home in the Catalina Foothills, consider Foothills Clusters. It’s high-up in the foothills, just north of Skyline Drive and bounded by Alvernon Way on the east and runs to just west of Evans Mountain Drive on the west.
So you’re 3 minutes to restaurants, shops and to all the best stuff the foothills has to offer.

And sales in the Clusters have done very well in the last 3 years, while, so far, prices have risen only gently. In 2012 16 homes sold at at average/median of $277,963/$291,000
@ $153 avg./sf.  In 2014, 14 homes sold at avg./median of $300,703/$304,500 @ $163 avg./sf. And at those prices, plus the fact that many Clusters homes are being renovated/remodeled and spruced up, prices have nowhere to go but UP.

There are currently 8 homes for sale in Foothills Clusters

see TheFoothillsToday.com
to find your Catalina Foothills Home

 

a sign of the times

Perusing new high-end listings I noticed 12 homes that were listed last year, many of them for eons, and failed to sell, that were relisted this year.  And most of them (9 of the12) were relisted at the same old price they didn’t sell for last year. 

Which tells me that sellers and listing agents – at least from this small sample - are optimistic about the market in 2015.

I hope they’re right. But I wouldn’t bet the farm on it.

See them HERE, (link expires 2/6/2015)

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to find your Catalina Foothills Home

 

what’s a homeowner to do

The following chart shows yearly average/median sold prices for single family homes in the Catalina Foothills, from 2000 thru 2014.

From their peak in 2006 to their bottom in 2012 average sold prices dropped 32%.
And since 2012 they’ve inched UP just 7%, and are still within just a few bucks of where they were in 2004 & 2010.

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to find your Catalina Foothills Home

Catalina Foothills Home Sales for December 2014

OOPS! an inauspicious ending for 2014.

Following November’s ‘sluggish’ sales, December sales dipped even further, and is 2nd only, and just by a hair, to November 2013 for the lowest sales in 2 years. And it’s worth noting that it’s not just a December/Ho-Ho-Ho Holiday thing. Previous Decembers have fared better –
2011 - 63 sales, 2012 – 61, 2013 – 62, 2014 – 47.

Oh well.
Bottom line, total single family home sales are down 12% from 2013.

2013 – 880 sold
2014 – 772 sold

And while December sold prices dropped from November’s exceptional jump, which is not surprising, they’re still UP there and amongst the top half for 2014. Even with falling sales.

Bottom line, average/median single family sold prices are UP 6%/1.3% for the year.

2013 – $463,994/$395,000
2014 – $492,215/$400,000

The November report is HERE

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to find your Catalina Foothills Home

checking in with Zillow

Like it or not, more home buyers and sellers are checking out Zillow’s Zestimates to help them come up with the right price for homes in the Catalina Foothills. And while the accuracy of Zestimates has improved quite a bit since the early days, it’s still hit or miss. But there now are more hits than misses. And let’s face it, list prices are also hit or miss, especially if you consider original list prices relative to eventual sold prices.

See for yourself, following are a handful of recent sales - including the sold price, the list price at time of sale, the original list price, and Zillow’s Zestimate at the time of sale.

7808 N Ancient Indian Drive Tucson, AZ 85718
sold for $1,400,000 from a $1,689,000 list price  (original list $1,789,900)
Zillow high-balled it at $1,993,930.

4615 N Via De La Granja Tucson, AZ 85718,
sold for $1,050,000 from a $1,145,000 list price (original list $1,145,000)
Again, Zillow high-balled it at $1,509,961.

6190 N Hototo Place Tucson, AZ 85750,
sold for $1,650,000 from a $1,795,000 list price (original list $1,995,000) 
At $1,700,000, Zillow was awfully close, closer than the list price.

7075 E Ventana Canyon Drive Tucson, AZ 85750,
sold for $1,275,000 from a $1,399,000 list price. (original list $1,449,000) 
At $1,400,000, Zillow missed the mark but was as close to it as the list price.

2087 E Desert Garden Drive Tucson, AZ 85718,
sold for $1,999,500 from a $2,174,319 list price. (original list $$2,174,319) 
Bingo!, Zillow nailed it at $2,000,000.

3616 E Placita Lindura Tucson, AZ 85718,
sold for $1,050,000 from a $1,175,000 list price. (original list $1,200,000)
And, once again, Zillow was awfully close at $1,017,391.

3780 E Sumo Quinto Tucson, AZ 85718,
sold for $1,100,000 from a $1,299,000 list price. (original list $1,395,000)
Zillow - $1,249,357

6060 N Pinchot Road Tucson, AZ 85750,
sold for $1,325,000 from a $1,395,000 list price. (original list $1,895,000)
Zillow flubbed it at $1,100,000

3512 E Windy Point Drive Tucson, AZ 85718
sold for $1,043,000 from a $1,099,000 list price. (original list $1,099,000)
Zillow had it at $959,000.

2376 E Placita De La Victoria Tucson, AZ 85718
sold for $1,165,000 from a $1,295,000 list price. (original list $1,695,000)
Zillow was wide of the mark at $1,400,000.

6985 E Gate Ridge Place , Tucson, AZ 85750
sold for $899,900 from a $925,000 list price, (original list $949,900)
Zillow had it at $951,000

6220 N Camino Esquina , Tucson, AZ 85718
sold for $825,000 from an $899,000 list price (original list $1,100,000)
Zillow also pegged it at $1,100,000

5669 N Mina Vista , Tucson, AZ 85718
sold for $825,000 from a $879,000 list price (original list $879,000)
Zillow low-balled it at $659,000

5840 N Calle Grandeza , Tucson, AZ 85718
sold for $856,500 from an $876,750 list price (original list $895,000)
Zillow – practically a bullseye at $887,000.

6691 N Avenida De Las Palazas , Tucson, AZ 85750
sold for $867,677 from an $875,000 list price. (original list $1,099,000)
Zillow - $956,000

5910 N Mina Vista , Tucson, AZ 85718
sold for $835,000 from an $850,000 list price. (original list $930,000)
For Zillow, a swing and a miss at $954,000

As their technology becomes even more capable, and their database of home sales grows ever larger, Zillow will continue to sharpen their game. And as more younger buyers and sellers get into the real estate market it’s inevitable that the popularity and usefulness of online valuations will mushroom.

see TheFoothillsToday.com
to find your Catalina Foothills Home

where did the $1,000,000+ homes sell in 2014

47 homes sold at $1.0+ throughout the Catalina Foothills,

 

Here’s the lineup of where, in the Catalina Foothills, they sold;

1 in Alta Vista

1 in Canyon Ranch

2 in the Canyons

5 in Catalina Foothills Estates 10

1 in Catalina Foothills Estates 2

2 in Catalina Foothills Estates 3

1 in Cobo Catalina Hills

1 in Eleven Arches

1 in the Enclave at Pima Canyon

1 in Finisterra

1 in Foothills ll

1 in La Paloma Estates

1 in La Puerta

1 in Miramist

8 in Pima Canyon

3 in Sabino Mountain

1 in Sin Vacas

3 in Skyline CC

1 in Ventana Vista

2 in Ventana Overlook

9 in Ventana CC

47 homes Sold at $1,000,000+

 

After a very slow 1st half, that looked to be a repeat of 2013, $1,000,000+ home sales shot up in the 2nd half of 2014. And along with the overall jump in sales, sales in three subdivisions also shot up. Catalina Foothills 10 and Skyline CC went from zero $1,000,000+ sales in 2013, to 5 sold in Cat 10 and 3 in Skyline in 14. And Ventana CC, with just one sale in 2013, racked up 9 in 14. While Pima Canyon, which has done well thru thick and thin, once again held its own.

We’ll see what happens but, reading the tea leaves, 2015 looks like a promising year for high end sales.

Happy New Year!

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to find your Catalina Foothills Home