You are invited to visit my Open House in Sabino Mountain tomorrow – Sunday, June 1st, open from 1-4 PM. This Outpost built, 3,324 finished square foot, casually elegant one-story home is better than new. Visit the home that is the best house in its price range in the Tucson Foothills and see why you do not have to go any further to vacation at home! Priced aggressively at $800,000 – $850,000 (range price).
Some real estate agents do not like to hold their listings open in gated communities, but the ones I have held open in Sabino Mountain are usually well attended. I am sure one house I held open consummated in a sale that was unlikely to have occurred had I not held it open. The only added necessity when holding a house open here is the agent needs to put directions on the middle box in the island to go to whichever gate is the entry to the house for sale with directions to call the listing agent for the gate code. Then at the far right or left gate (according to which gate I guided the potential buyer to), I remind them again that they have to call me to get the gate code (if they have not already done so). They all seem to make it down to my open house. At the present time I recommend all houses for sale have at least one open house a month. In many areas of the country open houses are not frequently visited, but in Tucson where most agents holding houses open honor the buyers’ agent even if she or he is not in attendance, there are many potential buyers that come and preview the house. Since the open house might aid in a successful sale, agents should utilize this method to market the house if the Seller approves.
Sabino Mountain has had a hard time selling the non-custom homes in the past few years, and prices have seriously declined in homes under $500,000 as a result. Effective June 1st, Fannie Mae and Freddie Mac will lower their downpayment requirements to 5%. Recently the minimum downpayment requirement for those with high credit scores, good employment history, etc, has been 10%. In the past quarter all the homes that have sold in Sabino Mountain have been higher-end custom homes. Last year many owners who had tried to sell their non-custom homes gave up, since even with serious reductions in price, they had no offers. This lower downpayment requirement should give a little boost to a difficult 2008 real estate sales market. If you would like me to refer you to an excellent mortgage consultant, give me a call at 918-2410.
Just today another high-end Sabino Mountain home went under contract. A home in “The Retreat” that was listed for $2,595,000 is now under contract and as amazing as it may seem, this one had multiple offers just like the last two high- end homes that recently sold in Sabino Mountain. This underlines how popular Sabino Mountain is!
Keep in mind I have a home on 4134 N Boulder Canyon Place that is range priced from $800,000 – $850,000. It is absolutely model-perfect and has the ever-popular Outpost Great Room floorplan that attracts families and those who like to entertain. The outside boasts resort-style living with a sparking pebbletec pool with an in-ground cleaning system and a spa, a custom barbeque, and a kiva gas fireplace surrounded by a flagstone patio facing the pristine Sonoran Desert, the Santa Ritas and city lights.
Both 4182 N Quail Canyon Drive (final sales price $1,449,000) and 4174 N Black Rock Drive (list price $1,795,000; final price unknown until close of escrow) had multiple offers. Wow! The market in the high-end in Sabino Mountain is doing great!
There are two houses that have sold in 2008: 4182 N Quail Canyon – sold for $1,449,000 and 4458 N Sabino Mountain Drive that sold for $938,000. Additionally the new home at 4175 N Black Rock Drive that is listed for $1,795,000 is also under contract. All these homes have been listed by my Long Foothills office. The Long Foothills office sells more real estate in Tucson than any other real estate office by leaps and bounds and sells many more homes in the Foothills than its real estate competitive offices. These stats show that the houses well over a million are selling high and selling fairly quickly. The home on Sabino Mountain Drive that just recently sold reveals the depreciation in homes under 1 million. This home has incredible views and in previous years would have sold for more than one million.
The tougher qualifications for jumbo loans has hurt the price range between $500,000 and one million hard. Every month the lending standards seem to get tighter. The people that purchase homes well over a million are somewhat unaffected; many pay cash.
I hope you will take the time to visit my Open House this coming Sunday. This gently lived in one-story Outpost built home (range priced from 825K – 875K) has many nice features inside and out. Go to my website at the bottom of the page: www.DonnaAnderson.com to see photos, floorplan and the list of many upgrades. Hope to see you there! Call me at 603-8622 if you need the gate code!