Sales that have closed since June 1st.
7161 N Placita Sin Codicia, Tucson, AZ 85718 in Sin Vacas - was first listed in August 2013 for $679,000 (after selling in August 2012 for $575,000) and after almost 3 years on and off the market, and numerous price cuts, it finally sold for $515,000 ($214/sf) from a $525,000 list. Laughing all the way to the bank, Zillow pegged it at $665,304.
5045 N Camino Arenosa, Tucson, AZ 85718 in Flecha Caida Ranch Estates #6 – was listed 187 days ago for $620,000 and closed last week for $525,000 ($155/sf) from a $529,000 list. Zillow high-balled this one too, at $582,420.
7487 N Calle Sin Desengano, Tucson, AZ 85718 also in Sin Vacas – was listed for $725,000 in September 2015, reduced and reduced again, it sold the other day for $585,000 ($172/sf) from a $595,000 list. Zillow had it, and still has it, at $806,843 (not a typo). And makes no bones about it.
So far it’s clear that buyers are willing to pay close to list price, but not until the list price gets to where it oughta be.
1210 E Placita De Graciela, Tucson, AZ 85718 in the, still to this day, ever popular, Shadow Hills – was listed this Feb for $649,000, and quickly had one healthy price cut to $599,000, and, voila, it closed the other day for $575,000 ($220/sf – on the high-side for SH) after just 56 DOM. The big Z over-corrected and called it at $531,606.
6361 N Calle Noche Serena, Tucson, AZ 85750 in Ventana CC – was listed for $660,000 in late January, went to contract 126 days later and sold last week for $606,000 ($215/sf). Zillow, your edge in RE, had it at $667,459.
5840 N Mina Vista, Tucson, AZ 85718 – a perfectly smooth listing, was listed for $699,000 on 4/14/16, went to contract 11 days later and sold for $686,000 ($203/sf) in early June. Zillow nailed it at $680,868.
6106 N Camino De Michael, Tucson, AZ 85718 also in Shadow Hills – was listed for $739,000 on 3/1/16, went to contract on 3/21/16 and sold in early June for $735,000 ($209/sf). Zillow liked it at $779,562. I’m not sure that it helps but it sure doesn’t hurt when Zillow has lofty opinions of your home’s value.
6103 N Pinnacle Ridge Drive, Tucson, AZ 85718 in the wildly popular Pinnacle Ridge subdivision – was listed for $765,000 in late March, 9 days later dropped to $749,000, went to contract 23 days later and sold in early June for $739,000 ($242/sf), even with a west facing backyard – the highest $/sf sold price of all 11 sales in Pinnacle in the last 18 months. At $725,637, Zillow was close.
7340 N Cathedral Rock Road, Tucson, AZ 85718 in Cobblestone – was listed for $950,000 last November, dropped to $895,000 on 1/5/16 and went to contract on 1/31. Then it fell out of contract at the 11th hour, on 3/17. It returned to the market and went to contract again on 5/12 and closed on 6/14 for $825,000 ($190/sf). This was my sale, I represented the buyers. And I hardly ever mention my sales, because no one comes here to read about what I've been doing. And I only mention it now to make a point; I almost never check Zillow’s Zestimates on homes that I’m involved with because so often they’re wrong, and I don’t want to be influenced by them. And I didn’t check it on this deal until now, well after it closed. And I’m glad I didn’t, Zillow’s Zestimate for Cathedral Rock is $1,026,370. And thank goodness the seller and listing agent didn’t pay it any mind either. Terrific house, great location and lot, somewhere in the $800's.
2436 E Placita De La Victoria, Tucson, AZ 85718 - at the Enclave at Pima Canyon (which is not in Pima Cyn but in Sin Vacas.go figure) It was listed for $1,195,000 in late Feb, went to contract in early April and fell out in late May. Off the market for nearly 2 months, what a drag for the seller. However, you can’t keep a good house down, it soon went to contract again and closed last week for $1,150,000 ($270/sf). And Zillow, pretty good guess too, $1,199,930.
5153 N Marlin Canyon Place, Tucson, AZ 85750 at Ventana Overlook – listed for $1,500,000 in April 2015, reduced and reduced again to $1,225,000, it went to contract in April and closed in mid June for $1,150,000 ($186/sf). Zestimate,$1,232,455.
7589 E Crested Saguaro Place, Tucson, AZ 85750 on Sabino Mountain – let’s start at the beginning - Crested Saguaro first sold in December 2004 for $1,195,000, with no pool. The new owners then built out the backyard and put in a pool and in late 2006 listed it for $2,0000,000. But no one took the bait and it left the market for nearly 10 years, until this January when it was listed for the much more sensible $1,295,000 and by mid April it was in contract and sold in early June for $1,200,000 ($252/sf), for a simply gorgeous contemporary with jaw-dropping mountain views. The envelope please, Zillow nailed it at $1,194,336.
6000 E Finisterra, Tucson, AZ 85750 in, where else, Finisterra – obviously, a deal made, signed, sealed and delivered prior to being listed and going into the MLS. Finisterra first showed up in the MLS on June 2nd listed for $1,795,000, it went to contract a few minutes later and closed a few minutes after that, all on June 2nd, for $1,715,000 ($275/sf). The Zestimate, $1,598,297.
And the biggest deal for last. 7300 E Stone Canyon Drive, Tucson, AZ 85750, on 93 acres bordering the Coronado National Forest, way high up in the Foothills. Listing notes that at 3550’ elevation it is the highest home in the Catalina Foothills. And it’s cooler up there.
It was first listed in January 2014 for $4,500,000 and reduced 3 times to $3.9, $3.1 and, finally, to $2,800,000 this March. And that did the trick, it went to contract in April and sold on 6/8 for $2,800,000, cash. Given the uniqueness and uncertainty of land values up there Zillow did pretty good, calling it at $2,513,046.
That’s it for now.
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