gone in a flash

Word is 3860 E SUMO NOVENO in Cat 10, listed last Thursday at $1,195,000 ($197/sf), had three offers and went to contract over the weekend for more than list price.

Sumo Noveno last sold in 2004 for $1,215,000. Some time after that it was extensively renovated – all new floors, kitchen, 5 new baths, new mechanicals & more. Plus all new landscaping – they ripped out the old and put in the new, by Plants of Distinction, the la-di-da-est of la-di-da landscapers in town. All to the tune of well over $1,200,000.

And that’s why, when it was listed for $1,195,000, it went in a flash.
And it’s not a short sale or a foreclosure. It’s a barely lived in, totally renovated, cat 10 house on a big, private city view lot.  
I previewed it a couple of weeks ago before it hit the market and showed it last Friday and was planning to show it again today but, darn, it’s gone.

That is one of the homes I was referring to in last weeks post,
sellers capitulate – when I said, ‘These homes will sell and they’ll sell a lot quicker and for a lot closer to list price than what we’ve been seeing for the last few years’

see it here> 3860 E SUMO NOVENO Tucson, AZ 85718
(Listed by Long Realty)

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Comments

[Stuart]

...and that is what we have been saying for months now...."priced right go really quickly".

The issue, of course, is what is meant by the term "priced right"...and that is the fly in the syrup. There must be some method of determining this number...but so far it hasn't popped up on the radar screen.

We can talk all day about using "sq. foot" numbers as a base line, but as we all know there is often many other factors besides the size of the home to take into consideration.

Nevertheless, unless we go into another "double dip" recession i believe that the bottom of the housing market in Tucson is near. Obviously, we will not know that until it has long passed and we can look back with "20-20 hindsight"' and say that the bootom of the market took place during the ____ quarter of 20__!

[Donna Anderson]

Great news~ Tucson Foothills luxury homes priced right go really quickly with multiple offers!