We are finding as Sellers are getting more realistic about pricing in today’s real estate market, even after only a few days on the market, many homes are reduced. This is the case for 4035 N Boulder Canyon Place that was reduced today down to $799,000 from $825,000 after only being on the market two weeks. This 3,324 sq foot Outpost-built semi-custom home is on a secluded .72 acre at the end of the cul-de-sac on a very private homesite. This home has a contemporary flair to it– inside and out.
4129 N Ocotillo Canyon Drive that was under contract twice, but the contracts fell-out, has been reduced to $450,000; this home’s original list price (four and a half months ago) was $520,000.
4138 N Ocotillo Canyon Drive followed suit and reduced its price down to $435,000 from $465,000 after only being on the market 20 days.
Both of these homes are one-story Pepper-Viner Homes with three car garages.
It is a time-waster to over-price the price of your home. The homes in Sabino Mountain that are priced within 5% of fair-market value are selling and the rest are sitting there until the price reflects the reality of today’s market. The longer the house is on the market the more the price suffers: when you put your house on the market at the right price to begin with, you net a higher price.
Unfortnunely 4129 N Ocotillo Canyon Drive’s contract fell-through a second time.This semi-custom Pepper-Viner one-story home has over 2, 600 square feet and is on a 1/4 acre lot, which is large lot for the Pepper-Viner homesites. It is priced at $464,900 and has a 3 car garage, 3 bedrooms and an office, three full baths and has some mountain and city views. It is rare that two contracts fall-through.
I just listed 4128 N Sunset Cliff Place. This two-story Monterey Home is almost 3,000 square feet and is very upgraded. The homesite is over 8,000 square feet which makes it one of the largerst Monetery lots. The custom pool is heated; has whirlpool jets, a waterfall and in-ground cleaning system. The tranquil backyard features an English Garden with Sonoran Desert Landscape touches. The oversized master suite is located on the first floor. Please spread the word about my new listing priced at 459K.
The gorgeous Monterey two- story (2,904 square feet) on 4118 N Sunset Cliff Place just went under contract last night. This home is better-than-new and very upgraded, with pool, travertine floors, marble baths, granite counters, cherry cabinets, and the list goes on. The list price was very reasonable at $449,000; we will not know the final price until it closes escrow. These buyers got a fantastic house!
Two Sabino Mountain custom homes on Quail Canyon that are right next to each other came on the market priced within 1K of one another. Both were on the market earlier this year and were taken off the market for the Summer.
4041 N Quail Canyon, priced at $1,194,000 has 3,750 square feet and was built in 2003. Right next door, 4081 N Quail Canyon is a 3,676 square foot home, built in 2004 is back on the market at $1,195,000.
This is a very challenging time to sell homes with a price-tag of over one million dollars in the Tucson Foothills. Both may be priced high for present day market conditions. Today’s high-end buyers are mostly bargain shoppers.
4155 N Boulder Canyon Place reduced its list price down to 985K today. This 3,630 square foot custom contemporary home is located on over an acre and a half and backs to vast, pristine Sonoran Desert. This home is better than new and has many state-of-the art upgrades. It sits perfectly on the homesite; the architect sited it wonderfully to take advantage of the desert views. It certainly is the nicest custom contemporary home in this price range in the Tucson Catalina Foothills.
4129 N Ocotillo Canyon Drive, a 2,604 square foot, semi-custom Pepper Viner home went under contract again. The last list price was $464,900 and we will know the final price once it closes escrow. This home is located near the custom lots on Ocotillo Canyon and has a lot size that is about 1/4 acre, which is about twice the size of the normal non-custom Pepper-Viner homesites. It also has a nice location without homes across the street and has a panoramic view of the Sonoran Desert and the Rincons. The semi-custom features include another small bedroom (or office) and full bath behind the Kitchen. This is a modification of the popular one-story, Pepper-Viner floorplan that has the formal Foyer and large Living Room-Dining Area off the entry with large windows; the bedrooms are located next to the Master Bedroom; it is not a split floorplan, unless you consider the study off the Kitchen as a fourth Bedroom. A nice feature about the yard is a nice size pool could fit there.
4042 N Black Rock Drive closed escrow with a final sales price of $675,000. This gorgeous, ridge-top, Monterey – built, semi-custom home is 3,631 square feet and when it was listed for sale, it was in staged, model-perfect condition. The views are of the high Catalinas. Amazingly, it took almost 8 months to sell it with the list price constantly moving down to reflect current market conditions. These buyers got a surperb deal!
Recently I showed a potential buyer some homes for sale in Sabino Mountain. Some things I noticed that could help in marketing the homes for sale are: have good pictures on the listing, replace fire detector batteries so the buyer is not distracted when touring the home with the constant chirping, and open the window treatments to reveal the view. The present real estate market is one in which the buyers are used to viewing homes in model-perfect, almost staged condition, so if you need to replace carpet or stretch it, do so. Price the house within 5% of expected final sales price and the house must be priced to sell, or it will become stagnant and ultimately, sell at a lower price than it would have, had the house been priced well to begin with. Your realtor should constantly check out homes that are new to the market that compete with your home and also she/he should keep you informed of comparable homes that have closed escrow. Based on this information, you should adjust the list price accordingly. Homes are selling fairly well in the 500K and below price-point, but only if the price is competitive. Homes priced from 500K – 1 million are more challenged to sell, and are usually selling at bargain prices. Houses priced over a million are having a very difficult time selling unless they are priced well below the market. There are buyers out there looking for very high-end houses, but almost all of them are bargain hunters.