It is very unusual for the Tucson Foothills to have high homes sales numbers in July; in fact, it is usually the slowest or one of the slowest months of the year. Top agents go on vacation  since they know few sales are to be made this time of year. But this year it is different–there have been more sales than any other month this year and more July sales than we have found in the past 3 years during the same month.  It seems as the stock market stabilizes and moves dramatically higher in July, so does the Tucson Foothills homes market.

Gosh, as I check the Tucson MLS daily,  lately I notice  more than a few times a week I see a “Sold” home or an “Under Contract” home with a price tag of over a million. July is normally DEAD–not so this year. Many buyers that have been waiting for the best time to buy are taking their chances that it is now and they do not want to miss out! Call me if you want to join the pack at:

520-918-2410 or email me at Donna@DonnaAnderson.com .

The stats are in and upon review all the Tucson Foothills luxury homes that are priced competitively are selling very quickly. There are more than a few that are priced way too high and some are priced higher than those that were sold at the peak of the market. Those houses will not sell until they get real. However, those buyers who want a good selection to chose from, at the bottom of the market prices, have either missed the bottom or it is here now, so do not wait any longer to buy your dream luxury Foothills home!

It strikes me that there are two things that can help make most homes become more appealing to buyers.  One is work to make your home have the best curb- appeal possible. Spend more money on custom landscaping that is tasteful, yet not overbearing.  Water features are appealing; saguaros and ocotillos add much to the desert landscape and there are many multi-colored plantings that if interspersed can make a home have a dream exterior appearance. Mesquisite Valley has a huge variety of plants to pick from; if you have good vision you can do it yourself or you can bring your landscaper with you to help you choose the right plants.  New outdoor light fixtures can make a home look more inviting. Nothing looks worse on an upscale home than to have cheap exterior lighting which can include those attached to the home that were cheaply chosen by the builder to cut final costs. Additionally it is a turn-off to see walkway lighting that sometimes include cheap blue solar lights–spend a little more money and get tasteful accent, exterior home and walkway lighting. Make your home  sparkle and stand out and you will sell your home quicker and at a higher price and it will not take a lot of funds to see a transformation! Landscape lighting highlighting palms and saguraos, and special custom plants really make the house become the most inviting and stand out from the other neighborhood homes that tend to be run- of- the- mill. 

 I also suggest Sellers start  requesting agents schedule showings (especially second showings made by agents that have clients that are showing special interest in your home) at sunset if you have a great city  lights view or you have a gorgeous mountain view. Homes with tasteful accent lighting really look spectacular at dusk when the lights first come on. Make sure your timers are set to have the lights come on at dusk.  Turn the waterfalls and pool /spa lights on, too. Our sunsets are spectacular  so why not make sure the potential buyers view your home when it shows the best?

Be careful reading stats, you have to examine closely. Seems to me there are a lot of homes in the Foothills over a half-million that are under contract for the Summer, when typically this is slowest time for real estate sales here.

Also the $600,000 – $800,000 price- range has been particularly challenging, yet there are many under contract now. I think this price-range has been really hard to sell since it typically consists of the move-up and second home buyers, and therefore, not a range representing buyers who have to buy. Many second-home buyers are on the fence due to the economy being questionable as to whether it will stay the same or get better. The typical move-up buyers are scared they might lose their jobs and  they are also worried about their  drop in their 401K’s value, etc., and, as a result, are staying put until the economy gets better. Another factor influencing all potential buyers in this price-range is that in order to buy they have to put 25% downpayment to obtain a jumbo loan (which represents all loans in Pima County over 417K).

 There certainly are some indications that in the 500K – 1 million price- range prices have bottomed, like the lower price range that has undoubtedly bottomed during the first half of the year. The inventory in the price-range under 500K in the Tucson Foothills is declining. Those who want a good selection better not wait longer to buy. In real estate, if you want to make the best investment, always think “LOCATION, LOCATION”. The highest- ranked schools, best shopping, upscale restaurants, world-famous resorts are located in the zip codes of 85750 and 85718.  Oro Valley and NE Tucson have incredible views, so if you can not afford the area that has the best investment potential, check those areas out.  Some families without kids do not want to pay for the highly-rated schools and the great proximity to luxury amenities and would rather save $100,000 or more on their home. Beautiful Tucson represents many great options and there has never been a better time to buy!

There are 47 high- end Tucson Foothills Luxury homes list -priced between 500K and 3.5 million that are in the prime Foothills zip codes of 85750 and 85718 that are UNDER CONTRACT. There are 11 homes under contract that are list- priced between 600-700K. I have my Placita Alhaja listing range-priced between 675K -700K also under contract, so I personally know how challenging this price-range has been. We Foothills agents are taking a sigh of relief that homes aggressively priced do, indeed, move. In the past few months there have been no Foothills homes sold in this 600-700K price range, so this represents a tremendous increase in the number of sales.

Here is how the stats fall:

500-600K        8

600-700K        11

700-800K          7

800-900K          3

900-1mil            4

1 mil -1.5 mil     9

1.5 mil-3.5 mil    5

Keep in mind, I have done my best to accurately reflect the Tucson MLS stats, but minor mistakes could have been made.

In June the Long Foothills office sold 15 homes priced from 500K – 1.5 million. (Remember this represents sides–with each sale there are 2 sides–1 for the buyers’ agents’ sale and 1 for the sellers’ agent sale). These sales represent sales all over Pima County, and do not represent just the Foothills zip codes.

This is how the sales fell:

500-600K               4

600-700K              2   

700-800K             2

800-900K            1

900 – 1 mil           1

1 mil – 1.5 mil     5

Here are the stats for June Tucson Foothills sales (only zips 85750, 85718): 78 sales (representing sides)– in each sale there are two sides (one representing the listing agents’ sale and the other representing the buyer agents’ sale. ) Last month there was 88 sales. It should also be noted that last month the Foothills had 28 sales over 500K; this month there were only 16 sales in this range. This is par for the course–as the Summer progresses, sales go down.  Of these 78 sales, the Long Real Estate Foothills office sold 30 of them. I have done my best to accurately compile the sales, but minor mistakes could have been made. All stats were taken from studying Tucson Multiple Listings, and do not reflect any sales that do not involve realtors. This compilation should prove to those listing homes, especially in the high-end, that they should either offer their homes at fair market prices, or take their homes off the market! I am amazed at how many high-end Foothills homes are over-priced, and  I am equally  surprised that agents continue to list them when they have little chance of selling and pull the rest of the market down.

less than 100K     3

100-200K            17

200-300K            15

300-400K            13

400-500K            14

500-600K            5

600-700K            0

700-800K            2

800-900K           5

900-1 mil             1

1 mil – 1.5 mil      3

My family and I decided to go to Scottsdale for four days to get away while my hubby had to work a few days. We stayed at the Phoenician Canyon Suites which is a great–where we had a 1,200 square foot suite that is  part of a boutique hotel in the Phoenician Resort. The suite was very special–but it was so hot we never ventured out to the pools and during the day and we rode the golf cart  back from the spa/athletic center even though it was only 1/4 mile away– it was too hot to walk back. The mornings and the evenings after sunset never got pleasant like in Tucson; temperatures did not drop below 90 degrees at night. In Tucson we see high 60s and 70s in the AM and late PM and during the day Tucson temperatures are about 8-10 degrees lower than the Scottsdale temperatures that ranged from 103-108 degrees.  Scottsdale is congested and reminds me of LA. Tucson is lovely; surrounded by multiple mountain ranges with clear skies and lack of congestion. The shopping is better in Scottsdale and there are many more job opportunities there, but if you are looking for a second home or a retirement home I can not imagine choosing Scottsdale over Tucson. It was so good to be back!!!!

Without a doubt, it seems many who want to sell their luxury Tucson Foothills homes do not realize that prices dropped about 10 percent when the stock market crashed last fall. Unfortunately, many homes are list -priced at prior to the stock crash prices.  These homes have little chance of being sold unless they take this 10% dip into consideration. I get many calls from Sellers that seem to think they might be able to sell their homes at 2007 or beginning of 2008 prices, and it just is not attainable. Even more surprising, I have gone on listing appointments with some Sellers thinking they can get the same prices as the peak of the market, and though I would not list their home at this high price, there is always a real estate agent who will. What these Sellers also need to know is that by adding to the glut of homes on the market, they are adding to the unlikelihood of appreciation and  probably leading to more depreciation, when the market is struggling to stabilize. It is  especially frustrating to me  since my fellow-realtors are part of the problem by agreeing to list these homes. They are giving the Sellers false- hope and as the home withers on the market, the luster will go away and it will be worth even less than it would have, had they listed it at fair-market value to begin with.  Many times I am the second agent to get the listing after the Sellers have gotten “real”; I always feel badly since I know if they had listed with me originally the house would have sold sooner, and for more.