In the last few months I've given a lot of coverage (some would say too much) to the million$+ spec home market here in the Tucson Foothills. I did it because there are unmistakable signs of vulnerability in this category. And along with that, there's opportunity.
And now unfortunately, though it was inevitable - two of these million$+ spec homes have been listed as short sales.
From the same builder, 5543 and 5527 N. Camino Real, priced at $1,295,000 and $1,495,000, are now short. Another home that's part of this trio, priced at $1,195,000, went under contract on July 17, also listed as a short sale. See the two for sale here> Camino Real
This project began with the purchase of a large Joesler estate on 4.5 acres here in the Tucson Foothills, which was then split up to make room for the three new spec homes. I wrote about it in going through changes with a Joesler in the Tucson Foothills
As with many others, this project was the victim of unfortunate timing. Planned, committed to and begun in the Ra-Ra days, but not completed until we were in the doldrums of a declining market, the chances for success dwindled.
I count 27 new vacant million$$+ spec homes for sale in the Tucson Foothills. And amongst them, I see opportunities to make some very good deals. New, old and in between, there are 128 homes for sale in the Tucson Foothills priced at $1,000,000 and UP.
*click Foothills Spec homes under CATEGORIES in the left column to see all my recent posts on Foothills Spec homes
and see my web site thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes
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