Eagle Crest Ranch Offers A Great Value For Today's Home Buyers

home neighborhoods that have been developed recently (most notably Black Horse Ranch) Catalina offers buyers who may not want to be in Oro Valley affordable new home options.

For new homes within Eagle Crest Ranch in Catalina Arizona (AZ) DR Horton offers two different series of homes. The normal Eagle Crest Ranch new home product that starts in the $130k’s  for roughly a 1,345sf  2bed/ 2 bath, on the high side for the regular Eagle Crest Ranch a 2,502sf 3bed/ 2bath that comes in at just under $200k currently. For over 2,500 sf under $200k that would represent a good value for any buyer in today’s market.

What’s the other series available to be built in Eagle Crest Ranch?

The other series is what DR Horton calls “The Melange” series. These homes are much larger homes and full of luxury included options as a standard item. Homes with this series start with a 2,057sf 3bed/ 2bath, with a 2 car garage starting in the high $250k range. From there the homes get larger in size all the way up to a 3,578sf 5bed/3bath 2story available for purchase in the high $310k price point.

Since Eagle Crest Ranch has been developed for some time it also has a good amount of inventory of resale homes available for buyers. Eagle Crest Ranch Homes For Sale generally are not on the market for a long time as the Catalina market doesnt have a lot of newer home options for buyers available.

I think right now the Melange series probably isn’t a big seller for DR Horton as the market has shifted towards smaller more affordable homes with less luxury and more size. On the other end though the regular Eagle Crest Ranch that offers homes for sale all under $200k is a great value and one of the best for new homes on the north side of Tucson. While for many people Catalina seems too far away a distance to live for those that work/ need to be anywhere north of River road and anywhere near Oracle the drive is not bad as Oracle Rd will take you north and south quickly.

Prices for these home range at Vista Montana Estates homes start with a 834sf home at $129,900 up to the largest at 1,852sf for $179,900. At Lakeside Ridge off of Stella Road and South Pantano homes start in the $150k’s

Obviously installing solar panels has benefits and costs associated with it yet with TEP’s incentive of paying $3,500 per kilowatt for each solar panel installed the costs are not as high as many would assume. For example a typical home built needs a 5.8- kilowatt panel solar system to run the home. With TEP’s current incentive of $3,500 per kilowatt incentive this equates to just over $20,000 for the solar panel system.

It’s worth noting the $3,500 per kilowatt incentive is for whats labeled as a “TEP Guaranteed Home” which is where TEP has energy efficiency standards for the home to meet to qualify for it. If a home doesn’t meet the TEP Guaranteed Home requirements then the incentive for installing solar panels on a home drops to $3,000 per kilowatt. Still with the average solar panel system running $20,000-$40,000 over the long run it should be much cheaper to operate a home with a self providing solar panel system then not once the incentives are calculated.

One other word worth mentioning is obviously having a solar panel electrical system will make your home much more valuable as it essentially will not have to incur the costs of electricity. For a normal home that has a $150/month electric bill that’s a savings of $1,800/yr. After figuring in the TEP incentives and the additional cost of a system a solar panel system could run an additional $5,000-$20,000 out of pocket. With that being said there are what’s called “Green Loans” that you can use for refinances or purchases to allow you to get the money for these home improvements both with attractive rates, and processes to help you make these upgrades. In my mind a solar panel electric system should easily improve your homes value at least the minimum of what it costs out of pocket after the TEP tax credit. As electric prices increase over the following decades those savings could become significant as well as the feature becoming more valuable to future home buyers.

-If you would additional information on energy efficient homes in the Tucson area for sale or to learn more about “green loans” to make energy efficiency improvements to your current home feel free to email using the form on the right of this page or call directly.

When selling a Tucson/ Oro Valley home estimating its value is obviously the first step. The first place most Realtors will start is by pulling up the closed sales and active listings within the neighborhood the home is in. Then calculating basic “average dollar per square foot” by the size of your home for a ballpark figure. However that approach may still incorrectly asses the value of your exact home value by 5%-10%. A really great Realtor (listing agent) when determining a home value will figure out what the top selling features of your home, check neighborhood comps, and then compare/ cross check other homes in a much wider area with some of the same features. This comparison when properly done can take many hours to complete as the housing market is constantly changing in what buyer’s perceive as needed and the amount that they are willing to pay for individual home features is constantly in flux.

A perfect example of this is as the Tucson real estate market heated up buyers were much more interested in luxury features of potential homes for sale. Buyer demand for luxury home items; pools, granite, extensive tile, and other luxury features received high premiums and homes that offered them sold faster then homes that didn’t. In today’s real estate market buyers are not paying high premiums for luxury amenities. Many times its hard to figure out exactly what premium buyers’ will pay in today’s market and a Realtor with extensive experience in PROPERLY PRICING their listings from the beginning of a listing advice should be sought. Proper initial pricing is vital to selling your home for the most possible. The market will  push your home aside if it is over priced and if you lower the price (reduce) buyers will expect a higher discount as you as a seller have shown your motivated to sell with the reduction. To make an example here is what happens in most “price reduction” situations between buyers and sellers:

If you were a buyer would you offer full price for a home that had just been reduced? (even if you thought the price was now fair) Or would you try to get an even better deal? Well 99% of buyers will bring in a lower offer when they otherwise would when they have seen that the sellers have made a price reduction! This is why getting the right value on your home before placing it on the open market is the most important thing that happens when selling a home.

1) Paint the interior, nothing looks better then fresh paint and even if you painted two years ago a another fresh coat will still impress buyers and cover marks and dings that are a natural part of living in a home.

2) Have the home de-cluttered, this means putting all furniture and items in storage that are un-needed or don’t help make the home show well. While hard to live in a home that is up for sale its a step that must be taken to ensure a sale for the highest price possible.

3) Have the home cleaned from top to bottom inside and out. You need to have your home in it’s absolute best  light. In my mind nothing will get your home sold faster or for a higher price then it being extremely clean. Cleanliness shows that as a seller you have pride in the home and more then likely have taken good care of it while you have owned it. In todays market of a high number of foreclosures this step will make buyers feel more comfortable buying your home and knowing it was well taken care of.

So that takes care of the physical items that every seller should do if they are at all serious about selling their home for top dollar. Keep in mind just a few items that make a buyer willing to pay even just a couple percent more for your home this “couple percent” on a $400k home listing equates to $4,000-$12,000 in the sellers pocket!

What else improves your bottom line as a home seller?

Simply put your Realtor (listing agent) that is in charge of your sale is your number one (#1) asset in your home sale! They set the marketing, the image, and the sales pitch behind why a buyer should pay certain price for your home. In my mind too many Realtors do not take advantage of all they should be doing to get your home sold for the highest price possible. Many times the marketing is minimal, negotiations are not strong enough, and the image of the home is not appealing to its target market buyer. That being the case hire the best Tucson Realtor available to make sure you get the maximum out of your home and sell for the highest price possible.

So what can you do?

Hire a Top Tucson Realtor to get your home sold. Top listing Realtors sell homes quickly and for prices ABOVE the average dollar per square foot for the neighborhood! Simply put if you want to get a better price then “average” you must hire an above average Realtor (great Realtor really) to figure out how to get your home ahead of the competition and make sure your home sells for more then even the comps suggest. Now one word worth mentioning is that a great Realtor is going to charge a full price, they have to so they can pay the marketing costs associated with properly pushing a home. The 1%  or 2% (Max) more that you pay the great professional listing agent (Realtor) in most cases will gain you 3%-8% more out of your home sale or in simple terms a great listing agent/ Realtor will pay for themselves! What you do not want to do is find the cheapest Realtor on the planet to just “sell” your home and not be able to get the buyers to pay what they should thus leading you to selling for below suggested comps for your neighborhood. I see this happen EVERYDAY so try to stay out of that group as it will cost you as a seller a lot more then what you think you’re saving on the Realtor commissions.

-If you are a potential Tucson home seller and would like to know what your home should sell for with proper marketing, and a proven home sales plan with a Top Tucson Realtor feel free to send me an email using the form at the right or call me directly at the number above. I use the best marketing plan in Tucson to sell my listings and with over 225 sold homes understand how to get even the toughest homes sold!

NW Tucson is the largest segment of Tucson real estate and continues to grow

many different neighborhoods and homes for sale. Depending upon price range and needs NW Tucson should be able to accommodate any housing want/ need as the homes for sale vary in size, type, style, and amenities. So what are the best homes for sale in Northwest (NW) Tucson? What neighborhoods are the most coveted and the best deals?

The best homes for sale on the NW side depend on your individual needs and wants. If your a first time buyer your needs and abilities will be much different then a NW luxury home buyer.

-Best Northwest (NW) Tucson first time home buyer neighborhoods/ areas (those areas where nice homes can be purchased for under $200k) would be; Continental Ranch/ Reserve, Hartman Vistas, Paseo Del Sol, Riverside Terrace, North Ranch, and Countryside Vistas. Of those NW Tucson neighborhoods Continental Ranch is probably the best known as it is the largest housing neighborhood in NW Tucson with over 4,000 homes within it. For those first time buyers that want to be closer to town Paseo Del Sol, and River Terrace located along River Rd would be great options. The homes in both River Terrace and Paseo Del Sol are Northwest neighborhoods less then 5-7 years old and offer an amazing location.  If you want a home within the Mountain View High School district; North Ranch with its impeccable upkeep, and Countryside Vistas are probably the best neighborhoods for that need/ want and value. (North Ranch has a VERY strong HOA and buyers who do not want to deal with that should not buy there, but the HOA does a great job keeping up the neighborhood and 15 plus years after it was built still looks almost new!)

What if you want to buy a home on the NW (Northwest) side of Tucson and are in the $250k-$750k price range where should you look?

The NW offers a lot of great housing options and neighborhoods for this price range. Oro Valley will pull in a lot of this buyer segment as it’s upper scale restaurants and shopping along with access to the Foothills and downtown Tucson and in general “up-scale” location drive many to buy within its city limits. So in Oro Valley the best neighborhoods to get the best overall value in my mind in this price range would be the upper end of Rancho Vistoso, and Canada Hills. Both Oro Valle neighborhoods offer great locations and above average views that many in this price range prefer to have.

And if you are a luxury buyer with a $750k plus budget?

Well in that case I think only two options make sense for NW Tucson neighborhoods depending if you want to live in the newer contemporary “up and coming area” or the older more established. Those two would be Dove Mountain or the high end of the Oro Valley real estate market such as Stone Canyon and Honeybee Ridge/ Estates At. Both of these neighborhoods offer new housing and are contemporary but the Dove Mountain neighborhood is the newer growth area that is bringing in high end buyers in droves and in a lot of cases pulling them from the high end Oro Valley market they had stayed in prior to Dove Mountain. Now Dove Mountain with its Ritz-Carlton, and World Match Play Championship has a newness and cache with it Oro Valley just doesn’t have. This should continue to push the Dove Mountain luxury properties into a larger and better known high end area then even Oro Valley is over time.

These Northwest (NW) neighborhoods depending upon what your needs, wants, and price range are generally the most popular and most demanded areas to live in. If you are new to Tucson and would like additional info on these areas, or currently live in Tucson and want to buy/ sell a home in these neighborhoods I know each neighborhood extremely well and would be more then happy to provide you additional information and stats on any of them.  Simply send an email using the form on the right or call to get started.

Lenders charge much higher fees to refinance your home loan but with today's historically low mortgage rates a refi can save thousands!

them possibly tens of thousands of dollars. However the fees in today’s mortgage/ refinance market are high in comparison to other times due to the difficult real estate market, and the high foreclosure rate. Fees for refinancing a mortgage in Tucson can in some cases run 0.25%-4.0% of the loan amount depending upon the borrowers credit score, and overall situation. Home refinances work off “adjustments” meaning that for the absolute perfect 800 FICO (credit score) home owner with a lot of equity in their home (more then 45% equity in the property) you will basically pay only the mortgage broker fee for the rate and the current “adverse market fee” that is a (in general) a 0.25% fee leveraged to those refinancing in a area where home prices are in decline and where lending is more risky. If you are not what lenders would consider a “perfect refinance borrower” then you pay additional fees; each fee will add-on to the total costs of your home refinance.

Those fees/ costs can include:

-Under a 620 FICO and Less then 20% equity in your home- 0.375% fee

-Loan amounts of greater then 100k and less then 200k- 0.5% fee

-Credit score of OVER 700 and home equity of greater then 40%- The lender will give you a CREDIT of 0.125% for being such a low credit risk!

Refinancing a mortgage if you are going to own your home for more then 5 years as long as the refinanced rate is 1% less then what you currently have should in most cases over weight the fees to complete% the refinance. Right now mortgage refi rates are around 5% and statistics show close to 37% of all mortgages 30 year mortgages have a mortgage rate of greater then 6%. With that being said borrowers can reduce their mortgage by close to 17% (if someone had a 6% mortgage and can refi today at 5% the savings are about 17% obviously higher for those with a higher mortgage interest rate then 6%)

If you would like to get additional information about refinancing your home or the options available to you use the form on the right to explain your situation and whatever questions you may have. Depending upon your situation your request will be send to a local Tucson mortgage professional that specializes in your needs.

For borrowers on the fence about refinancing their home mortgage it is worth mentioning that at the end of March the Fed will start to phase out its buying of mortgage backed securities and that is widely believed this stoppage of buying by the fed will bump home mortgage rates by 1% or more by as soon as the fall of 2010! So with that being said the costs/fees to refi  more then likely are going to stay the same and with right now rates are around 5% so the case to refi now vs later is a very strong one.

-July 2009

Average Foreclosure Home Price: $158,361

Median Bank Owned Home Price:   $135,000

Total REO Sales: 134 Homes during July

Average number of days on market for a Tucson foreclosure home: 46 Days! (Thats close to half the time a regular listing would need to sell)

Avg buyer discount (showing the sales price difference from the full listed price) -1.36%

This discount percentage shows that on average buyers were able to buy a Tucson foreclosure home for 1.36% less then the full listed price. The smaller the discount the stronger the market is for the seller. Foreclosure homes in general are priced to sell and under-priced in many cases. This stat shows a very strong amount of demand for Tucson foreclosures during July.

-November 2009

Average Foreclosure Home Price: $145,574

Median Bank Owned Home Price: $130,000

Total REO Sales:212

Average number of days on market for a Tucson foreclosure home: 39 Days

Avg buyer discount (showing the sales price difference from the full listed price): 1.53%

In November when it was thought the $8k buyer tax credit would be over the sales numbers went up drastically as this is prime price range for first buyers. Its also interesting to see that the foreclosure market was forgiving for buyers as the average discount to market went up to 1.53% signaling the banks were more willing to make deals to sell their homes…. Days on market went down as did the prices for the average foreclosure/ bank owned/ REO home in Tucson.

-February 2010

Average Foreclosure Home Price: $153,406

Median Bank Owned Home Price: $122,500

Total REO Sales: 229

Average number of days on market for a Tucson foreclosure home: 38 Days

Avg buyer discount (showing the sales price difference from the full listed price): 3.57%

I went through the composition of each months foreclosure sales and in February there were a lot of higher end foreclosure home sales that closed. One home closed for $1.8 million, several for over $500k and a lot of homes from $250k and up. So one could come to the conclusion that the higher price buyer is more willing to make a purchase then in other past months. Also the discount being given has jumped to over 3.5%! In my mind that means the banks are being squeezed by buyers and giving into the market pressure to make sales. I believe the increase in price in last months numbers are directly due to the higher amount of $250K homes that buyers seem to be snatching up right now.

In summary one can see the foreclosure market is getting more interest as sales continue to rise and buyers seem to be getting better deals then ever before on them. My prediction for the near term of the Tucson foreclosure market is that more and more higher end properties will be selling as those buyers step up to take advantage of the depressed prices that is the reality of today’s market. I think buyers will also be able to continue to press the banks to negotiate good prices off of the banks inventories as they continue to take on homes and must sell them regardless. It’s also worth noting bank sales are tough negotiations and buyers should have a Realtor who represents them AND has a lot of experience representing buyer’s on foreclosure home sales as they can be intense.

-If you are looking to buy a foreclosure or bank owned home in Tucson and would like to get info on them, or see if they maybe for you send me a email (using the form on the right side of this blog) or call. I follow the market closer then probably any other Realtor in Tucson, and understand exactly how this segment of the greater Tucson real estate market works, what to expect, and also where to find the best deals.

Today's Home Selling Market Is Crowded With Other Sellers, Don't Get Stuck Behind Them Get Ahead Of Them!

not enough interest from buyers is what has occurred. With so many foreclosure homes on the market and buyers watching every dollar they spend; the sell side of the real estate transaction can be a very tough side to be on. It’s important for sellers to have a certain outlook on what to expect in today’s market the first couple of items I would recommend sellers understand is the following;

-Your home must be priced at or below what the comps suggest. Why? Well the market is competitive and still going down in value in most areas. If you price “at” the current comps that was what “has” happened, and would generally suggest your home is over priced when it hits the market because the market has declined 1%-3% from the time those homes that are similar to your closed escrow. Keep in mind to calculate the rate of decline/ appreciation your neighborhood has been experienced and make sure your home is priced in line with that. Real Estate markets change on a daily basis just like the stock market and you home’s price needs to be correct if you want the buyers in the market to respond positively.

-Your home must look better then the foreclosures within the same area. Those foreclosures are going to be cheaper in 9 out of 10 situations then your home and you have to show buyers the value in buying from a normal seller vs. a foreclosure property that is probably in need of some repairs and updates. If your home doesn’t look that great or is also in need of repairs/ updates keep that in mind in the price you select for the initial list price. You should be priced under comps by 3%-5% otherwise buyers will just gravitate to the foreclosures and not your home.

Features and age of improvements do play a large role in your homes value vs. the competition. Don’t just use the average selling dollar per square foot and multiply your homes size for a listing price. You could easily over or under shoot the market 10%. I say this because I have personally seen many experienced Realtors use that approach and can’t figure out why their listing is sitting when other homes at the same dollar/per foot are selling quickly in the same neighborhood. Pricing is a very serious thing to get right the first time, if you don’t you will have to reduce and buyers will feel your desperate to sell and it will reduce the amount you get on initial offers.

-Your Tucson listing agent (Realtor) must be great at marketing your property and I mean much more then just placing it on MLS and sitting back. Properly marketing a listing is expensive and it’s also difficult to properly find the right target market to advertise your home to so that the advertising gets it’s maximum return. When it comes to getting your home sold a Top Tucson Realtor is worth their weight in gold. Inexperienced agents/  or those unwilling are not going to help your home sale and you should take a very serious look at what you are getting for the commissions being paid.

There is a very good reason that Coca-Cola still spends billions of dollars on advertising/ marketing every year when everyone in the world knows what one is and probably what it tastes like. That reason is the marketing works and continues to sell their product. Your home also needs advertising/ marketing and that advertising must showcase your home above the others to help get you a good sales price and buyer.

-Lack of proper advertising when selling a home is in my mind the #1 reason sellers have to sell for prices that seem overly low/ or don’t end up with an successful sale at all-

-Marketing many times can even overpower price and make a sale on a listing that is overpriced!

Simply put if marketing didn’t work Lexus wouldn’t be able to get a decent premium on their cars over the same basic Toyota with the same options. The “Lexus” nameplate has been marketed as a “premium” name and product and buyers are easily willing to pay more to have it. The marketing is really the only thing that sets a Lexus at a higher price point then a similar Toyota otherwise buyers would not know why they should pay more and expect to pay more for the Lexus nameplate.

If your home is priced well and has the marketing push needed behind it you should be getting interested buyers through your home on a regular basis. Once you get this your well on your way to receiving an offer. In Tucson right now it’s taking about 12-15 buyer showings to one offer received so keep this in mind it’s basically a numbers game once you are hitting the market with the right house and price for the buyers. The more buyers you get through your home the higher the number of offers and the higher the actual offer prices will be for as buyers feel they must be competitive to  beat out the other offers. One last word on this as those offers come in from buyers who realize your home is being shown to a lot of other potential buyers they are easy to work with as they realize they are not the only buyer in town for your home, this helps with negotiations as today’s buyer in many cases truely believes they are the ONLY buyer in the market and should get everything they want.

-If you have a Tucson home and would like additional information/ help with getting your home sold or ideas as to how to make your home sale as successfull as possible send me an email (use the form on the right side of this blog as that goes directly to my personal email.) or feel free to call. I have successfully sold well over 225 homes and in most situations can simply and quickly give you the ideas needed to get your home sold quickly and for as much as the market can handle.

New Homes Fell Off A Cliff In January Nationally Tucson Is Doing Better Then Most However

weak in January but the stats showed a annual level/ rate (seasonally adjusted) of 309,000 new homes. That rate is almost impossible to believe even an anemic rate comes in at roughly at a 400k new home pace. I think this is a bottoming out of sorts for the new home industry in my experience the Tucson new home market while still in recovery is doing better then most markets.

New homes right now in Tucson are very cheap. In many cases a new home in the Tucson area (Phoenix for that matter also) can be purchased for a better price then even a foreclosure could be. Rancho Sahuarita would be the prime neighborhood where new homes are so low in price its amazing for me to see.In Rancho Sahuarita 2500sf plus brand new homes for under $200k and after builder incentives are figured in the true cost is in the $175k-$180k range. This is for one of the most demanded and best master planned neighborhoods in the entire nation. Other areas where new homes are buys;

I think Oro Valley could make the case for low priced new homes also. These homes are not in the first time buyer range however they are in the $350k and above price range. I think what happened here is builders bought land in great locations and now much squeeze margins to get homes sold. The Oro Valley market was one of the most lucrative Tucson markets to build new homes in as other then the land costs being higher a new home developer could get a 10%-20% premium for building in the prestigious Oro Valley area vs other parts of Tucson. This lead to a lot of over building which isn’t as bad as other areas because most of the building took place in the upper end price ranges and has still been soaked up reasonably well (compared to other areas of Tucson such as Sahuarita or the SW side) as the Oro Valley area for those unaware is something like a smaller version of Scottsdale with many higher end housing neighborhoods and services.

Areas where new homes are not fairing so well would be the SW side where so many new homes have been built in the past 7 years that many foreclosures are in competition with the new homes now. This is the same story in Sahuarita however it seems the builders have re-done the homes in Sahuarita to allow them to be built for a lower price then the product the builders where building during the boom. In The SW those homes were already somewhat more basic and the ability to cut costs by re-engineering isn’t as easy.

This Oro Valley Foreclosure Is Currently On The Market For $349,900

several high quality foreclosure homes within Oro Valley, these homes are newer and seem priced well considering the size and quality of them and the higher end neighborhoods in which they reside. Oro Valley Foreclosures are like a lot of other Tucson areas (including the foothills) where foreclosures are in almost every price range and home type. Oro Valley as a whole offers a smaller number of high quality move in ready foreclosure homes but has a high amount of short sales leading many to believe the supply of higher end foreclosures will be available for some time as the Oro Valley housing market is still in a recovery state.

If you are looking to buy a higher (high) end Oro Valley foreclosure hold out for the higher quality listings that generally hit the market every month. These foreclosure listings are in the $250K plus price range within some of the most demanded Oro Valley Arizona neighborhoods such as Rancho Vistoso, Canada Hills, Someset Canyon, and on the ultra high end; Honeybee Canyon, Stone Canyon (which has especially been hard hit with foreclosures), and many new homes (or newer) homes in the $500k+ price range that are in unsubdivided areas of Oro Valley.

What should you look for when trying to get the best deal on a upper (high) end Oro Valley foreclosure property?

I would give my clients looking for the best deals on Oro Valley real estate to stay patient and focus on grade A foreclosure homes in higher end neighborhoods where the best discounts should be. Roughly speaking the price ranges above the first time buyer market ($200k In Oro Valley) is a slower market then Oro Valley has experienced for some time. Homes in the $250k and up price range are many and buyer demand is not as robust as many would like to see it. Patient buyers will see a pretty decent amount of A grade foreclosure property. Grade A in my mind means the home needs to no real “fix-up” it may need some small and general landscaping, paint, and/or minimal flooring however many regular home purchases require the same items. These homes are out there one home on the market right now for sale and one of the better deals in Oro Valley foreclosure real estate is this home located at 1177 W. Doolan Dr Oro Valley, AZ 85755:

-3261 square feet

-Built in 2006

-5 beds

-3 baths

-3 car garage

-Home features many upgrades

-Located in Somerset Canyon Neighborhood off of Tangerine and La Canada

-Listed at $349,900 (This comes in at $107.30/sf . This home at $107.30/sf is an amazing deal for a premium 4 year old home in Oro Valley’s best zip code 85755 for just over $100 a sqft… With some negotiation this home should be able to be purchased for just under $100sf!)

This isn’t the only home with an amazingly low sticker price I have seen dozens of other foreclosures that just seem overly cheap. This homes while in my mind is cheap can even so still be bought for much less as this mid to upper end of the Oro Valley market is not moving as fast as banks like to move their foreclosure real estate. Lenders like to list and get sold their foreclosure inventory in under 90 days MAX! In fact they prefer 60 days and under, after 60 days have expired the banks start making aggressive price reductions until the home sells and with an aggressive Realtor negotiating for you as a buyer you could potentially cut 10%-20% OFF OF THE LIST PRICE of the right foreclosure with the right offer and terms.

When I see premium homes listed for just over $100sf in Oro Valley it makes the case the market is giving buyers a great opportunity to make some buys. Having a lot of experience from the new home industry I’m not even 100% sure you could build a home in Oro Valley of this size and in this location for the $350k asking price. The home previously written about originally hit the market as a new listing in the end of October for a list price of $386,900 now it is at $349,900. I predict this home will need one final price cut to sell and at a listed price of around $330k should sell fast! If a buyer stepped up and made an aggressive offer with proper negotiation I think a $315k-$325k price would be entertained by the lender as this home is going over 4 months on the market in a few days. If you would like help navigating the current Oro Valley foreclosure market call or send an email (using the form on the right) and I would be happy to help you out.