February 25th, 2010 by Michael Oliver

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The higher end of the Oro Valley foreclosure real estate market is seeing some nice listings come on the market. Recently I have seen

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.

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November 17th, 2009 by Michael Oliver

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Share on Facebook High end foreclosures seem to just be hitting the market in Oro Valley in the past couple days several have shown up. This one is on the lower end of the new Oro Valley foreclosure homes that have hit the market recently but it’s also one of the best values as it was sold in mid 2006 for $1,950,000 and today can be purchased for a fraction of the price at its listed price of $825,000. I’m thinking with the right buyer (cash offer) and some negotiating a low $700’s final price is very possible for this home seeing how the banks are trying to move their luxury homes right now. Even at its full listed price of $825k this represents about a 55% discount over the “top of the market” price. That’s pretty extreme, even for high end luxury real estate in Oro Valley and the greater Tucson area. It’s safe to say luxury home prices in Tucson have fallen 30-%40% from 2005-2006 highs but to see a property listed with a 55% discount and assuming the bank will discount further equates to a 60%-70% final sales price from 2005-2006 highs!

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