Two new spec homes in Pima Canyon - 7236 N Calle Sin Envidia, and another right next door at 7296 N Calle Sin Envidia - have had quick deep price cuts. So quick and so deep that it made me wonder what the heck was going on.
How quick How deep
7296 was listed for $2,500,000 08/14/08 (just 78 days ago) and after 4 quick cuts it's down to $1,712,000 -
7236 was listed for $2,100,000, also on 08/14/08, and after 3 cuts it's down to $1,498,000 -
And what's going on is that as of today, after just 78 days on the market, they're both in short sale. That's quick too.
See them here> Sin Envidia (on the street without envy)
And I can't tell for sure, but it appears that one is completed or nearly so, while the other has a ways to go.
UPDATE 11/1
I went up there today to have a peek and 7296 Sin Envidia is about 85 - 90% complete, with mostly finishing work to be done. Floors in a few of the rooms are not in, some bathroom fixtures are missing, the driveway is about 1/2 done, the pool is rough finished, it's missing AC units, needs to be painted.
I couldn't get into 7236 so no report on that.
By the way, they are both from the same builder, Tara Sun Development Inc., who up to now has been a much touted local builder of very high-end homes.
No one is immune.
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