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
