140 Single Family Homes For Sale
46 Single Family Homes are Currently in Contract
55 Homes Sold in the last 30 days at $780,000 MSP / in 17 MDOM
(links will expire 8/16/2024)
Just Listed last 7 days
Location, Location, Is It Still What It's All About
During the early 2000s Catalina Foothills real estate boom, some builders constructed high-end spec homes on cheap, undesirable lots alongside busy roads. They figured, heck!, everything is selling, these will too. That strategy proved disastrous when the market crashed in 2008, leading to plummeting sales and numerous foreclosures all thru the foothills but it was especially punishing for homes in undesirable locations. - a flaw that could never be fixed or made to go away. I blogged often about this trend of building & buying alongside busy roads and because it had many spec homes alongside it I nick-named Hacienda del Sol Rd, the street of broken dreams.
Despite this history, the recent record-breaking high-end market has seen a resurgence of this trend, with a few high-end spec homes once again being built along busy roads. Builders are once again gambling on the appeal of new construction, even if it means sacrificing location. A few of these homes have gone to contract quickly, but whether this is a sustainable strategy or a repeat of the past remains to be seen. Will buyers prioritize location once again when the market inevitably cools, or has the allure of a new home become too strong to resist, even with the trade-offs?
In my opinion, there's no contest. For discerning buyers, the mantra "location, location, location" should remain paramount. While the allure of a new home can be tempting, the long-term value, liveability and desirability of a property are intrinsically linked to its location.
Catalina Foothills Single Family Homes
John Schneider, Realtor® | Tierra Antigua Realty
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______________________________________________________________________________________________________________________________________________________________________________________________ The homes noted in this post are homes that have been listed and sold by us, the Realtors® of the Multiple Listing Service of Southern Arizona, the MLSSAZ
