Aside from lower priced homes, which continue to defy the inertia of the rest of the market, the market for homes priced above $750k or so, is dull and nearly lifeless, with few signs of enthusiasm from buyers. So sellers are having to rethink their strategies and sharpen their game. And relisting your home at a new price is often the best way to do it. Here then is a selection of recent ‘new listings’ of homes that had been listed before but did not sell, along with what they were asking then and what they are asking now. This trend is likely to continue if, as the season progresses, things don’t pick up.
In Ventana CC, 6010 N Desert Moon Court last sold in 2007 for $1,015,000. And was listed in 2012 for $998,000 and in 13 for $959,000, and so on until it expired this past May at $799,800. And, ta-da, today it is relisted for $759,000 ($254/sf).
In Finisterra, 6900 N Vista del Pueblo last sold in 2005 for $1,400,000. And in 2011 it was listed for $2,500,000 (and according to the listing had been completely remodeled) and hung on at $2.5 until 2013, but failed to sell and is now back priced at $1,995,000 ($299/sf).
Up on Sabino Mountain, 4081 N Quail Canyon Drive has for the first time dropped a tad below its 2005 sale price. Sold in 05 for $875,000 it was listed in 08 - for quick 54% profit - at $1,349,000 (in 08 no less). And since then the asking price has dropped and dropped again, and after expiring this past June at $899,000, it is now back at $865,000 ($235/sf)
And talk about missing the mark. 3613 E Placita Lindura in Cat 10 started out in 2006 at $2,600,000, dropped to $1,750,000, then, look out below, dropped to $1,195,000, but still it didn’t sell. And now, finally ready to face the music, it’s been re-relisted for $1,000,000 ($265/sf).
3039 E Placita Los Siete Adobes, a charming Jim Gray adobe sold as a short sale this past March for $615,000, and looking to make a quick buck was listed two months later for $785,000. But there were no takers and now, 7 months later, it’s still for sale, recently relisted for $744,900 ($310/sf). However, it should be noted that the home next door, nearly an exact replica of this one, sold last July for $725,000 ($301/sf).
In 2006 7207 E Stone Canyon Drive, up in the Mountain Estates of Ventana, was offered for $5,000,000 and sat there until it expired 228 days later. And now, 8 years later, it’s having another go at it, this time for $3,500,000 ($553/sf). Encouraged, perhaps, by the two sales in the mountain estates earlier this year.
This doesn’t fit in with the rest of the relisted homes, but… Looking to make a quick flip in Ventana, 6398 N Desert Wind Circle sold this past February for $525,000 and was (according to the listing) totally renovated, and is now asking $669,000 ($289/sf).
A 1936 Joesler at 5353 N Camino Escuela had been for sale for $2,750,000 with 13 acres, but that didn’t fly so they chopped $550,000 from the asking price and 5 acres from the offering. It’s now $2,200,000 ($390/sf) with 8 acres.
See them HERE (link expires 11/29/14)
(all are listed by Long Realty)
So far in October 75 single family homes have gone to contract in the Catalina Foothills; which is pretty busy for 29 days in October. But 70 are priced below $700k, with just 5 above it, and they top out at $925k… (link expires 11/29/14)
to find your Catalina Foothills Home