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.

The home that closed for $850k was a normal sale and this property that just sold for $635k was a foreclosure showing the discounts being given in the foreclosure market currently in the Tucson AZ area. At $179.33/sf for a home of this caliber and the location in the Foothills it represents an amazing value. Currently there are quite a few other foreclosure homes in the Catalina Foothills on the market. For the buyer willing to make some repairs and willing to purchase a foreclosure sale right now maybe the time to do it as the middle to high end of the Tucson market is very slow and banks are making deals to offload foreclosure inventory.

Currently these are the best foreclosure home buys in The Catalina Foothills right now:

-5360 N Ventana Overlook, 85750; This home is a 3,245 square foot gem in the Ventana Overlook neighborhood just south of Sunrise and West of Kolb. Built in 2007 is offers an almost new home with a large highly upgraded kitchen, lots of tile, 3 car garage, on just under an acre, and a host of other high end finishes. Homes in this area and of this size and quality generally easily sell for $650k+ this home just hit the market 3 days ago for a list price of $499,900! (Listing courtesy of Mark Clark and Long Realty)

-3900 Camino Blanco, 85718; This home was featured on the blog a little while ago and since then has been reduced to a new price of $1,181,800. This home is almost 10,000sf has 5 beds, 7 baths, custom home has not only great city views but exceptional mountain views too. Approx. 10,000 sq ft.of living area w/3 Master suites w/fireplaces & views. Separate Guest apartment. Expansive patio w/BBQ, firepit, &5 car garages w/storage. 2 balconies with North and South views. Terraced back yard. Lots of extras a LOOK! Please close gates. In-door pool. Ask about floor covering allowance for media room. All this for roughly $120/sf in Tucson’s most prestigious and highest priced zip code. Not to mention this home sits upon a 2.6 acre lot located just south of River Rd and west of Craycroft.

Catalina Foothills Foreclosures, tucson foreclsure homes, tucson high end foreclosures, tucson homes for sale