4182 N Sunset Cliff Drive, which is a two-story Monterey-built home with almost 3K square feet, a first floor master and a spool has reduced its price to $371,000 from $384,500. Someone is sure to scoop this foreclosed home at this list price!
Ordinarily there are more than a few homes to chose from in the under 425K price range in Sabino Mountain. Not so now, where there are three foreclosures and one other home that is struggling to sell since it is pretty small for the list price. Many folks steer away from foreclosures because they usually are homes that have been vacant for some time and need a lot of work. The foreclosures in Sabino Mountain are definitely struggling to find buyers since the prices keep moving down and they still are not finding buyers.
This seems to be a good opportunity to list your home (if it falls in the 425K or less price range) in Sabino Mountain since the inventory in this price range is virtually empty.
There are three homes that are foreclosures that offer buyers the potential of living in luxurious and gated Sabino Mountain at entry-level prices:
4493 N Little Rock – List Price $349K 2,213 square feet – one story home;
4048 N Sunset Cliff Pl – List Price $349,900 – has pool and spa and is 2,372 square feet – two story home; Seller offering 3 1/2% towards closing costs;
4182 N Sunset Cliff Dr – List Price $389,900 – 2,904 square feet-two-story home, small pool, new carpet and paint.
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.
When I posted that the Long Foothills office listed 4288 N Ocotillo Canyon for sale at $394,500, I presumed it would not take long to sell it. This gorgeous 2,300 square foot, 3 bedroom, Pepper-Viner built one-story has a split floorplan with study, 3 car garage, some travertine floors, upgraded kitchen cabinets with granite counters,and fireplace. It went under contract after being on the market for only 13 days!
A foreclosure at 4493 N Little Rock on a 2,213 square foot one-story Pepper- Viner resale in Sabino Mountain is certain to be a good deal for a future buyer. This home was reduced today to $349,000 after listing at a starting price of $379,900 almost 2 months ago. This 3 bedroom, 2 1/2 bath home boasts a 3 car garage, granite kitchen counters and some ceramic floors.
Wow! It has only been only 5 months finished in 2010 and 11 homes have sold in Sabino Mountain this year! What is even more striking is the price-range for most of the houses: 9 of them sold between $289,900 and $439,000. One short-sale home that was a Monterey-built semi-custom home on the ridge with beautiful views and negetive edge-pool sold for $620,000, and another gorgeous custom contemporary on Boulder Canyon sold for $900,000, finishing the list. Although some of the high-end Sabino Mountain homes priced over 1 million have dropped out of the for-sale category, there are still 4 struggling to go into the sold category. On the other hand, Buyers of non-custom homes have found Sabino Mountain quite desirable and have bought more homes in this 5 month time period than I can remember, and I have been here for over 6 years.