Recent Sales in Sabino Mountain

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.

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