Realistic Expectations in Selling Luxury Sabino Mountain Homes

June 5, 2010 by donna.

There are 6 houses listed for sale in Sabino Mountain with list prices from $730,000 - $1,695,000. It is interesting that there are so many for sale in this price-range when it is clear that the pricing for high-end homes in the Catalina Foothills area has gone back to 2004 prices. So realistically, they are all over-priced and the likelihood of any of them selling at the list prices they have is almost nil. The only way high-end Foothills homes are getting more than the 2004 prices is in homes where there were costly renovations and additions completed since 2004, and even then, the Sellers do not get back all the money they put into the house renovating it. This just is not the time to sell unless you want to list your house at a realistic list price which is approximately the same price you would have gotten had you sold your house in 2004. For most, what this means, is another way to determine today’s value is for you to take the peak selling price (2007) and then subtract 25-30% from that price. It is not a pretty picture, however, if you wait until 2015 it is likely that you may see those peak prices come back. The other option is to lease your home. It breaks my heart to see so many people try to sell their luxury Sabino Mountain homes when I know in my heart that at the price they are listing their homes for sale, they are just wasting their time.

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