Tucson Luxury Home Market Down In 2009

By Vallee Gold Team • June 20th, 2009

If you are a seller in the Tucson luxury home market right now…you must be looking for answers. There are little buyers in the luxury home market for the simple reason that jumbo loans are expensive to obtain.  Some of the new requirements include a 30 percent down payment and proof of income. Imagine that! Jumbo loans are typically at a higher interest rate than lower limit mortgages and this has contributed to the 15 percent drop in market share. In Tucson we range from 18 month – 24 month supply of inventory homes priced over $417,000.

For example, a Stone Canyon custom home featured as one of the ‘Street of Dreams” designer award winning homes just sold for $1.2 million down form the advertised priced during the show at $2.8 million. This was a “SHORT SALE”…

We have the list for Stone Canyon, HoneyBee, Dove Mountain, Canyon Pass, Catalina Foothills, La Reserve,  Sky Ranch, Canada Hills Estates, High Mesa, The 8th Green, Naranja Ranch, Coyote Ridge, Tangerine Heights, Copper Ridge, Sunridge II, and much more!

We have a list of luxury homes being advertised as “Pre-Foreclosure”…call us at 520-219-1024 and we would be happy to help you find a great deal! We specialize in helping homeowners avoid foreclosure! We speciaize in helping buyers find pre-foreclosure homes before the banks get them…so call us…!

Don & Kathy Vallee, CDPE, CRS-RE/MAX All Executives, Tucson, AZ  

www.CallToAvoidForeclosure.com

 

 

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