And they were willing to pay a bit over list to get it,
so I hope they're happy with it.
It, is a short sale house in River Hill Estates that closed escrow yesterday after more than a year on the market.
List price $725,000/Sold for $745,000 or $182/sf.
Originally listed for $1,175,000 in October 07.
Built 2005 - at the height of the frenzy - it's 4081 sq. ft., 4 beds/3 baths, 1 acre, pool/spa, etc.
And like other homes that were slapped up in those frenzied times, they didn't pay much attention to location, location, location.
This was built in River Hills Estates, and there's nothing wrong with River Hills Estates, as long as you're not expecting to do well on a million$+ spec project.
There's one other home for sale in there, it's listed at $520k, been on the market for 300 days. And going all the way back to January 2006, there's just one other sale, and that was for $395k in December 06.
That's it, so no comps for a home like this, not at $1.175 or even at $745k. According to Pima county data - there are 42 homes in that community, and the average year built is 1985, average sq footage = 2891, and the average sale price $413,940. A far cry from this latest sale.
Coming to market with it in October 07, they'd missed the frenzy by 18 months or more, and, at that point, hoping to peddle a $1,175,000 house in a community of $400 to $500k homes, was like hoping to win the lottery.
At $745k, I'd say the new owners did OK, they got a lot of house for the money. But it still sits in a community of smaller, older, cheaper homes and, there's no way around it, that's going to hold this one back.
see thefoothillsToday.com
to search for Tucson Foothills Homes
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