March 22nd, 2010 by Michael Oliver

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North Ranch on Tucson’s northwest side is a very clean and well maintained neighborhood full of amenities such as a neighborhood pool, and park for all it’s residents. Today in watching the market a foreclosure in North Ranch closed escrow for a VERY good price for the buyer! This home sold for 20% BELOW North Ranch market prices! The details of this sold home were as follows:

This North Ranch Foreclosure Home SOLD For 20% BELOW Market Recently

- 2 Story Home

-1,799 square feet

- 3 bed/ 2.5 bath

-Great Shape

-Tile floors

-2 Car Garage

- Listed for sale at $143,000

-Sold for $ 138,500!

Average sold prices in North Ranch as of today the average home sells for $95.65/sf this home closed escrow for $76.99! That’s $18.66 per square foot less then comps or exactly 20%! North Ranch Homes are highly coveted because of the pristine neighborhood and location they offer. This neighborhood however is for those willing to work with a strong HOA because in North Ranch the HOA is very strict and the effect it has is the neighborhood has the look and feel of a well maintained and much higher end neighborhood then its prices indicate.

For those looking to buy a home in North Ranch for a great price there are currently two more foreclosure homes within North Ranch both of which are 1,707 square feet in size one a 3 bed/2.bath the other a 4 bed/2.5 bath both one stories. Both of these homes are priced at essentially the same price point which is $150,000 or $87.87 square foot. At that price it represents a list price of 8% below market price. I think with some good negotiation you could buy either of these distress homes at 15%-20% below market as the comps suggest the banks are willing to let good homes go for those prices just to get them sold.

-If you are looking to buy or sell a property within North Ranch and would like additional information or questions answered about the neighborhood or your situation feel free to email/ call today.

NW Tucson Neighborhoods