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Category Archives: Tucson Foothills Real Estate news
Note to sellers: better to price your home correctly from the start. Buyers are looking for deals in the market, and the sale of your home will likely be subject to an appraisal Continue reading
September 2011 Tucson luxury housing report. Luxury housing is all homes with an ask/sell price abouve $800,000 Continue reading
Catalina Foothills October 2011 housing report. This report is the most comprehensive Tucson Catalina Foothills housing report I am aware of. Continue reading
Tucson Electric Power has reduced its upfront incentives, for rooftop solar systems, from $2.00 per watt to $.75 per watt. Application already accepted by TEP will be still be funded at the $2 per watt level.
Housing prices in Tucson have dropped to 2000 levels. The city’s current medium sale price ($117,500) hit its lowest point since Feb. 2001.
Medium prices have fallen 19% compared to Sept 2010 and 48% since November 2005 when prices peaked.
Below find the 3rd quarter (July-September) 2011 housing results, for the Foothills and Oro Valley. I have compared the 3rd quarter 2011 results to 2010, to provide an overview of the market’s current condition compared to the same time last year.
A short sale is when the list price of a home falls short of the amount owed against the home (mortgages, liens…). The property owner cannot afford to repay the full amount owned on the home and the debt holders agree to release their lien on the home and accept less than the amount owed on the debt.
Pima Canyon Estates (located in the Catalina Foothills), now has a home with an asking price under $800,000. Over the past 5 years, there has not been a home sale, in Pima Canyon, for less than $800,000.
After spiking in Aug. 2011, the number of foreclosure notices issued in Pima County, declined in Sept. 2011. The notices infor property owners inform property owners that thier loan is in default and an auction has been scheduled. Continue reading
7301 N Cathedral Rock Rd is the latest home to sell in Cobblestone. The home closed today for $1,170,000. It was first listed on 12/10 for $1,349,000. Continue reading