A review of the (only) five sales in the first six months of 2007 at Sabino Mountain is a surprise! The price ranges of the five that sold are from $820,000 -$1,350,000. Equally surprising is there are only two that are presently under contract – one is the builder of Outpost’s own home at 4202 N Quail Canyon that is listed at $1,295,000 (listed by the Seller’s daughter at Coldwell Banker), and the other is listed by me (Long Realty – Foothills) at 4348 N Ocotillo Canyon at $440,000. I am the only agent that has sold a smaller home in Sabino Mountain in 2007. WOW! How can that be? My opinion is that many Sellers listed their houses too high and as a result, got no bites. Now there are more than a few that have reduced their prices to represent fair market value, but it is late in the game, and now it is hard to be ahead of the pack. It is always best to list the house at fair market value in the beginning, and if you do this, you usually end up netting more than you would have had you made periodic price reductions when it does not sell. Either some listing agents are not giving good pricing advice or some Sellers are not following their agent’s advice. The market is changing to a neutral market for Foothills houses priced under 750K, but it is important that the price represent fair market value and show well. The market is in continual flex and as a result, a good agent continually checks new houses that are listed for sale that are in competition to your house and update you if there needs to be a price adjustment. The best case scenerio for those who have had their houses listed for a long time is to price your’s better than the competition.
It seems to be the trend; another beautiful and model-perfect Sabino Mountain 2 -story home has been reduced and is now $480,000; it is almost 3000 square feet and located at 4334 N Sunset Cliff Drive. This one is the Monterey floorplan with the master suite on the ground floor and the second family room upstairs. Tierra Antigua has listed this pretty house.
On another note -I checked the Tucson Multiple Listing stats and I was right in my hunch, the Long Realty – Foothills office sells more of its own in-office (Foothills office) listings than any other real estate office including all the other Long Realty offices (i.e. Tanque Verde, River-Campbell, etc) and other company offices (Coldwell Banker, Realty Execs, etc). I do believe that it gives the client the edge to buy and sell from the Long Realty Foothills office.
This weekend my listing at 4348 N Ocotillo Canyon (list price $440,000) went under contract. I sold it within my Long Realty Foothills office; the last 3 sales I have had have been with other agents right within my office. In fact, half of what I sell is sold with another agent in my Long Foothills office–this is no surprise: the Long Realty Foothills office sells more real estate than any other office in Southern Arizona. Transactions tend to run smoother if both sides are represented by agents in the same office, as well. I am proud to be a member of that office; in fact, it is such an asset to the clients I represent. Sometimes we even sell one of our great listings before it goes into multiple list.
On another note, the beautiful TRS custom home on the ridge at 4458 N Sabino Mt Drive (listed by Long Realty) has been reduced to a range price of $979,000 – $1,049,000. This is a great price for this home that has been staged to perfection and has magnificent mountain and city views. My guess is it will not take long to sell this one. If you or any one you know would like to see this house, or any other Sabino Mountain houses or Tucson homes for sale, please do not hesitate to call me at 520-615-2598.
There are two more recent price reductions at Sabino Mountain. This clearly seems the trend since past sales prices are not bringing in offers. One is at 4172 N Sunset Cliff Drive, listed by Long Realty, and is built by Monterey and now priced at $469,000, down from $499,000. It has 2904 square feet and is in model-perfect condition. This floorplan has a master bedroom on the first floor and a large second family room upstairs. It has such upgrades as cherry cabinets, Corian conters and stainless steel appliances. The location is the corner location, at the beginning of Sunset Cliff Drive.
The other recent price reduction is at 4473 N Little Rock Drive which is listed by Clayton Farnsworth and is built by Pepper-Viner. It is 1535 square feet and is the smallest house at Sabino Mountain. It was priced at $389,900 and is now priced at $379,900. This home is also in pristine condition and has hickory cabinets, tiled counters and floors, flagstone patio and walkways and more.
It is smart that both these Sellers reduced the prices on their homes, since traditionally in real estate, the first ones to reduce the prices of their houses to bring it down to market level or below market level, actually end up netting the highest prices during that time period. This is because after the first comparable house drops others follow.
There are more houses for sale in Sabino Mountain than there have been in the past two years. To check the present inventory and to see what has sold, go to my website at www.DonnaAnderson.com .
Two custom homes just went under contract at Sabino Mountain. One is the Outpost’s own builder’s home at 4202 N Quail Canyon that is listed by Coldwell Banker and represented by the builder’s daughter. List price is $1,295,000 with an additional 50K allowance for a full size pool. It is almost 4000 square feet on .81 acre with 4 bedrooms and 3 and 1/2 baths and has tremendous views and a very custom Southwestern interior. Another custom home, built by Outpost at 4385 N Black Rock Drive and listed for $1,499,000, just went under contract. This is listed by the owner who is a real estate agent at Windermere Distinctive Homes. This one offers beautiful high Catalina moutain views and is almost 4000 square feet with 4 bedrooms and 4 full and 1 half baths on 1.43 acres. This proves Sabino Mountain is still a popular community for the million plus buyers even during the hot Summer. Please note the final sales prices of both homes will not be known until the final close of escrow. At that time I will post this information.
From my perspective the best deals in Sabino Mt are to be found at 4389 N Sunset Cliff Drive (built by Monterey) which is a 2 story home with 2684 sq ft and 4 bedrooms, 2 1/2 baths. It boasts such upgrades as Corian counters, 20 inch ceramic tile floors, a fireplace, a spool backing to pristine desert open space and a 3 car garage. It is aggressively priced at $450,000. It is listed by Remax Majestic Realty and is multiple-listed. My listing at 4348 N Ocotillo Canyon (built by Pepper-Viner) is also aggressively priced at $440,000. This one-story home offers such upgrades as Corain counters, in home central vac, R-38 ceilings, whirlpool tub and heat lamp in the master bath, custom Whitney-Barnes shutters, convection microwave and the lot had a premium price for the mountain and desert view. The owner was one of the first purchasers and, therefore, chose one of the best lots in Sabino Mountain. If you are interested in seeing either of these houses, or any homes for sale in Sabino Mt, please don’t hesitate to call me at 615-2598. I promise excellent service!