February 21st, 2010 by Michael Oliver

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Buying Tucson investment property from banks that have foreclosed upon it is one of the best ways to buy distress property

The Tucson market offers deals for investors currently

at phenomenal prices. Distress investment property in Tucson is available for sale in all segments of the Tucson market. The best Tucson investment property deals generally are sold before they hit the general market or are at least highly known about when they do officially go on the market for sale. Bank managers, asset managers, and servicing managers responsible for selling  foreclosed assets have many contacts these contacts (Realtors) spread the word to their A-list clients and those clients (generally professional Tucson investors) act on those tips generating the sale of a bad asset for the bank, commission for the investor’s Realtor, and netting the investor an asset that will be sure to make them a return.

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January 6th, 2010 by Michael Oliver

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Today a new listing hit the market in Cimarron, to be honest this home is a good deal and probably could be purchased for a bit less then even the low asking price. This home is a VA foreclosure home and is a 4,090sf 5bed, 4bath, home on an acre. For those that don’t know Cimarron is located just north of Sunrise between Kolb and Craycroft roughly and is a highly desired neighborhood in Tucson due to its location and city/ mountain views which are stunning to say the least. This Northeast Tucson foreclosure is a BUY at $138.61/sf . (Listed at $556,900) The average sold comp as of today sells for $158.39/sf  in Cimarron, so right now this home is priced 12.5% below market! A good Realtor should be able to negotiate a much lower price off of the listing resulting in possibly getting this home for as little as $125/sf or just over $500k. If that happened as a buyer you would be buying this home at over 20% below market (or 21.1% to be exact) I feel like that purchase price and deal should be possible given the current market conditions for this price range and the Northeast Tucson foreclosure type of sale it is.

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December 29th, 2009 by Michael Oliver

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Tucson as many people know offers some high end luxury homes. Right now in Tucson the most expensive estate on the market is a super luxury 13,350sf, 6 bed, 10 bath, 15 car garage, state of the art theater, negative edge pool, complete with guest quarters, this home was built in 2009 and is one of the most prestigious homes in Southern Arizona. This property sits upon 1.34 acres in the extreme luxury neighborhood of the The Canyons located north of Skyline and east of Campbell Avenue. The Canyons sit opposite of another of Tucson’s most prestigious neighborhoods called Cobblestone built previously to The Canyons.

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December 11th, 2009 by Michael Oliver

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In the Pinnacle Peak neighborhood on Tucson’s North side a home just closed escrow for an amazing 25.3% less than an identical home (in floor plan and most features) did in the same neighborhood six months ago. This home is a newer (for the Catalina Foothills) contemporary home built in 2001 by A.F. Sterling. The property sold for $635,000 after over a month on the market. For those unaware of what prices go for in Pinnacle Peak that is an extremely low price for a home. This property was 3541sf, 4 bed, 4 bath, 3 car garage, with a pool. Another home of the same exact size and amenities closed escrow for $850,000 just a few months ago showing just how cheap of a price a $635k is for this home that just closed.

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November 18th, 2009 by Michael Oliver

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Share on Facebook Here are the statistics for the Catalina Foothills (North side of Tucson). The Catalina Foothills is the highest priced district of the Tucson region and also commands some of the highest end services, views, and demand from buyers as the area also features several world class resorts.

November 09 Stats;

-466 Active Listings

-$556,336 Average Sales Price

-94 Average Days On Market

-$185.90 Average Dollar Per Square Foot of Sold Homes in The Foothills

-$13,500,000 Highest Priced Active Listing Currently In The Catalina Foothills Right Now

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November 11th, 2009 by Michael Oliver

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Share on Facebook The most expensive foreclosure property in the Catalina Foothills right now on the market for sale is a 5,428sf 4bed, 5bath, ultra luxury home in the prestigious gated neighborhood of Pima Canyon Estates. This home has it all including a 1.88acre parcel of land, tumbled brick driveway, soaring 24ft beamed and planked ceiling, 24×24 travertine tile floors, 8ft alder doors throughout, Fisher and Paykel appliances, large courtyard with fountain, amazing mountain and city views.

high end foreclosures, luxury real estate, Tucson Foreclosures, tucson luxury homes, tucson luxury real estate

November 10th, 2009 by Michael Oliver

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Share on Facebook Due to the local real estate market in Tucson still working through the downturn high end foreclosures are still showing up in the market. A new listing that just came up on the MLS the other day shows just how low some banks are willing to list their luxury real estate foreclosures to get them sold in today’s tough market. This property is in the Foothills in the Casa Rio Estates neighborhood off of River and Craycroft. The property is a very high end home on the market for what seems like an amazing bargain. First here are the features list of this high end mansion in the 85718 zip code; 9,776 square feet of living space! 5 bedrooms, 7 baths, built in 2007, guest apartment, 5 car garage, indoor pool, on a 2.6 acre parcel, the features list of this home really goes on and on. Many would be asking for this caliber of home the price must be in the $3+ million price range but you would be mistaken. This home just came on the market at $1,259,800, now at that price many would say what makes this a good deal it’s still over a million dollars?

February 12th, 2009 by Michael Oliver

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Last week’s open house in Cimarron Foothills Estates was probably the best open house I have ever done. I had at least 28 sets of buyers through the home most of them serious buyers looking for a new property. I also had many people from other parts of the country who were down here looking (or thinking) that a second home or winter home would be a great fit for them. Most of the winter visitors I spoke with were from the Midwest. I think the main reason the open house was so successful was due to its proximity of it being at the front of the Cimarron neighborhood just off of Sunrise. The main intersection of Craycroft and Sunrise drove a lot of traffic into the home even though the weather didn’t cooperate much on Sunday (low temps and rain well low temps for Tucson which is in the 40’s)

February 9th, 2009 by Michael Oliver

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Buying a condo in Tucson’s Catalina Foothills makes sense for a number of reasons, if it’s your first home you can own a piece of the Foothills for a very reasonable price (condos start in the low to mid 100k’s). Tucson Foothills condo’s also make a lot of sense for the person who wants a well located and the “in demand” district the Catalina Foothills brings to the Tucson Valley. Furthermore upkeep in minimal, for both first time buyers (busy young professionals) and winter residents who only spend ½ the year in the Tucson region make buying a condo in The Catalina Foothills a natural and logical choice. Hopefully this post will serve as a buying guide for both segments of the Tucson condo market.

January 21st, 2009 by Michael Oliver

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I have been trying to come up with where I think the best values are for individual neighborhoods so it made me think of doing a post since I can’t be the only one wondering. For this “value” I’m considering more then just price in effect I’m objectively looking at the overall value a neighborhood brings to the residents who live there on the whole. Since it’s not realistic or simple to configure one individual neighborhood for “Best Neighborhood Value In Tucson” I thought I would name a few dependent upon price range and what the neighborhood offers residents. I would like to get some feedback on what others think represents good value in the Tucson area so your comments will be much appreciated.