Tucson Luxury Homes

Up until recently one could not find a nice single family home with a two- car garage and pretty views in the Tucson Foothills priced below $400,0000. But today there are many options.Two come to mind:  Sabino Springs and Sabino Mountain are both fairly new gated communities with incredible mountain and Sonoran Desert views. Sabino Springs is surrounded by the Arizona National Golf Course and is minutes to Saguaro National Park. Sabino Mountain is minutes from Ventana Canyon, LaPaloma and all the upscale shopping, restaurants and spas. HOA fees are low for what they offer–community pool, spa, security and a gated community with lots of pristine common area. Come consider a better life with clean air, clear starry nights, incredible beauty with a location in the valley surrounded by multiple mountain ranges,  and a mild, warm winter climate where you have recreational opportunities in abundance.

I get the NY Times every Sunday because I miss the cosmopolitan news that few US newspapers offer. On the front page is an article discussing how low -end homes in Phoenix are going like crazy. In fact, it is like the 2005 Seller’s Market is back. Well, the same is true in  the Tucson- Catalina Foothills; if you are looking for home list priced at 350K or less- small single family, townhome or condo in the Tucson Catalina Foothills, the market is red hot. If you stay on the fence, you will miss a great opportunity! Call me at 520-918-2410 if you want to explore this rare opportunity!

Wow! Today three homes closed escrow that were priced over a million:

$1,050,000 at Tucson Country Club

$2,100,000 at Pima Canyon

$1,350,000 at Palo Verde Ranch (NE Tanque Verde area)

and one home list priced at $1,385,000 in Catalina Foothills Estates went under contract today.

So the slowdown in sales for million+ homes is letting up!

Although the hottest segment of the market is in the lower price range below 300K, with each new week homes priced at 500K and above a seeing more sales. The prices are so reasonable that many who vacationed in Tucson during the Winter and have left, are now back to buy. Like those watching the stock market closely and guessing the bottom has already occurred, many see the Tucson Luxury Homes Market as having mostly bottomed. Jumbo loan interest rates are lower than they were last year. Most buyers in this price- range have no problem putting the necessary 25% down.

There is no doubt about it, sales are increasing and inventory is dropping. I will be very surprised if history does not tell us that the bottom was reached in the Spring of ’09. Buyers who want the best deals better get out there quickly because inventory is decreasing. Suppy is moving towards demand. The tipping point is likely have been reached. I predict in a few years we will look back and say “Wish I had bought in ’09″. 

It is here, the point where houses were not selling, in general, in the Foothills, in many numbers,until in the last few weeks all that has changed. There are many more houses selling and it is the tipping point! The prices have to have bottomed, mostly, in all price ranges, so the time is now, or around now and in six months we will know for sure….like the stock market, the time for the bottom may very well be here!!!!!!!!Finally!!!!!!!