4029 N Sunset Cliff Place sold last week at 410K with the Seller crediting the buyer an additional 5K. This home had been on and off the market for quite a while. Its location is at the end of the cul-de-sac with some nice city light views. Built by Monterey, it has the popular two-story floorplan with the first floor master suite, and is just under 3K square feet.
Last Thursday 4221 N Sunset Cliff Place– a-two-story Monterey- built, 2,904 square foot home closed escrow with a final selling price of $380,000. This home has the popular first floor master bedroom floorplan. After being on the market almost 5 months, the Sellers were willing to make a deal! And, indeed, the buyers got one!
Those of you who have your homes listed for sale in Sabino Mountain and do not have good photos or your home, the exterior and Sabino Mountain– are missing the boat. What brings in most buyers is the photos on the listing. It still amazes me that I see poor photos of homes listed for sale at Sabino Mountain. Another pet peeve, why don’t your agents post your listings on Zillow.com, Trulia.com and Realtor.com (extended listing)? Marketing is so much on the web, that if your agent is not providing these services for you, you need to have a discussion with him/her. And while you are at it, it helps to have a brochure box on the sign that is professional and detailed and it is extraordinarily helpful if your agent gives you feedback on every showing you have. It still is a buyers’ market, so get a good agent, or it will not sell!
$620,000 (short sale)
Those under contract (final sales prices are very likely lower):
It is obvious that homes priced over 500K are very challenged, since there have been many sales in the lower price ranges. There has only been one home sold over 500K that was not a short sale, and it went under contract in January and finally sold for 900K. The other home that sold for 620K was a gorgeous Monterey semi-custom home with negetive edge pool that was a short sale.
What is apparent to me is that the many homes in Sabino Mountain that are priced over 500K, must be priced very aggressively to sell, and from what I can see most are not aggressively priced and many are well above fair market value. Sabino Mountain is gorgeous and I hope to spend the rest of my life here, however, buyers very seldom pay above the market. I recommend that Sellers with homes priced in this price- range seriously re-think their selling strategy, and either, reduce the price, rent it, or take it off the market. Real estate is so much a supply and demand thing, that with so many listings in Sabino Mountain priced over 500K, there is an over-supply. When homes are listed for a long time, they become stale.
There have been 4 recent price reductions at Sabino Mountain:
4379 N Ocotillo Canyon $375,000 – started out at $389,000
4318 N Ocotillo Canyon $409,999 – started out at $465,000
4019 N Ocotillo Canyon $500,000 – started out at $515,000
4507 N Sabino Mount. $824,900 – started out at $895,000
Now there are six homes listed for sale at Sabino Mountain that are priced over a million! And three are located on N Quail Canyon!
The new listing is located at 4162 N Quail Canyon ($1,175,000)and is approximately 3,800 square feet on one acre. It joins 4081 N Quail Canyon ($1,145,000) and 4041 N Quail Canyon (1,189,000) that are right across the street. Other homes over a million include 4407 N Sabino Mountain Drive ($1,125,000), 4085 N Black Rock Drive ($1,500,000) and 7605 E Crested Saguaro ($1,695,000).
I will be holding my beautiful Sabino Mountain listing open this Sunday from 1-4. It is located at 4109 N Ocotillo Canyon Drive. Priced at 500K, this beautiful, one-story semi-custom home is over 2,700 square feet. The condition is impeccable and it is upgraded like you see in homes priced over a million. Views are of the pristine Sonoran Desert and Catalinas in back and Rincons in front. It is rare that a home so model-perfect and so very upgraded is offered for sale at this price in Sabino Mountain!
4182 N Sunset Cliff Drive went on the market at $404,900 – a 2,900 square foot, Monterey-built two-story home with pool. This foreclosed home was a former Monterey model and has many upgrades. Most agents marketing foreclosures lower their list prices or add incentives if the house does not sell within a few weeks. Sales are not open to investors until April 26th. There have been 2 foreclosures listed for sale in Sabino Mountain within a few days. Typically these homes need repairs and sprucing up. Unfortunately for those with homes for sale in Sabino Mountain, appraisers only use homes sold in the last three months and now use closed foreclosures and short sales as comparables.
Today 4199 N Ocotillo Canyon, list priced at $389,900, went under contract. This very pretty– one-story, Pepper-Viner- built home is over 2,200 square feet, has a 3 car garage, a gas fireplace, quartz kitchen counters and has no homes across the street from it. I represent the buyer.
4493 N Little Rock, a foreclosure located in Sabino Mountain, was listed today at $379,900. This one-story, Pepper-Viner built home is over 2,200 square feet; has a 3 car garage, granite counters and a flagstone patio. Foreclosures typically are reduced every few weeks if they do not sell. Alternatively some lenders offer closing costs and other incentives to get them under contract quickly. The Seller was an owner of a popular Tucson athletic club. Another sad story!