Tucson’s Loews Ventana Canyon- 85750 Homes For Sale, Real Estate Trends, and Insights For Buyers And Sellers
November 15th, 2010 by Michael Oliver
The neighborhood of Ventana Canyon anchored by The Loews Ventana Canyon Resort And Hotel is a neighborhood in the highest echelon of Tucson neighborhoods. Home prices, types, and features seen in Ventana Canyon on Tucson’s NE side are some of the best of the best Tucson has to offer in residential real estate. Few other neighborhoods can even compete with Ventana Canyon homes in my mind only Stone Canyon, La Cholla Airpark, La Paloma, as well as Cobbelstone see homes with the features and size of many of the homes have within Ventana. This being the case, Ventana Canyon properties sell in a very narrow niche of the Tucson real estate market and have their own tendencies much different than most Tucson neighborhoods. The buyers and sellers within Ventana Canyon also have a much higher education and experience level when it comes to real estate, this makes buying and selling within Ventana Canyon extra complex for those getting involved within it.
Profile Of Ventana Canyon-
Loews Ventana Canyon was developed to be a first class resort and opened in 1985. The resort offers 36 holes of gold standard golf set at the base of the Catalina Mountains running as far as Sabino Canyon to the lesser known Rattlesnake Canyon. The golf Ventana offers its members is first class bar none, the course has some of the best and most challenging holes in Tucson and most golfers appreciate the challenge along with scenery Ventana brings. The resort also features all the other normal first class accommodations residents can access including spa, restaurant, along with other events. Many residents of the surrounding neighborhoods and custom homes within Ventana Canyon buy for the second to none views of both the city and the mountains. Ventana also brings in a great deal of winter home owners and retirees looking for a perfect place to spend winters as well as retirement years.
Real Estate Profile Of Ventana Canyon-
As already mentioned Ventana Canyon is one of the first class neighborhoods/ districts to own a Tucson property within. The homes within Ventana sell for a premium due to their location within the Country Club. Custom Homes in the district generally start at the $1 million price point and go up from there. More traditional homes within neighborhoods are more affordable as they generally start in the low to mid $300,000’s. Condo’s and patio homes are also available and pricing for them ranges and are very popular with winter home owners and second home buyers in Tucson. While prices in Ventana are high compared to the average Tucson home, buyers moving here from other areas such as New York, Los Angeles, San Francisco or any other higher priced market then Tucson the value for the money Ventana brings far outweighs the price in most cases.
What Seller’s Should Consider When Selling Ventana Canyon Property?
Ventana Canyon sellers especially at the very high end should realize the competition they face isn’t just with other high end Tucson homes but statewide. Homes in Scottsdale, Fountain Hills, and other premium parts of Arizona compete with the high end neighborhoods in Tucson. Sellers should understand that they will need a Realtor who can market to such a wide distinct consumer base. Below that super high end that Ventana homes can command, home sales are more normal and straightforward. Sellers should still keep in mind though they will have competition from La Paloma and Skyline C.C. listings.
What Buyers Should Know About Buying In Ventana Canyon-
Buyers looking to purchase a Ventana home should realize that view, home features, and type of home (ie: contemporary, modern, etc.) all impact the market value of the properties within Ventana.
Buyer’s subjectivity in value plays a large role when dealing in the higher price ranges and this is no different in Ventana.
Since homes in the Ventana district have a lot of differences (specifically on the high end) it is hard for not only buyers to make correct decisions of a property’s value and what would be deemed a great deal it is also difficult for the sellers to defend their price as every home is unique. Buyers in Ventana have the upper hand in this market, even in a strong sellers market due to Ventana’s high price range. Buyer demand is never as high as the other lower price ranges allowing buyers to get better deals then they otherwise would get.
The proof of this is in the graphs even during the absolute strongest seller’s market even seen in Tucson buyers were still able to negotiate 2.88% OFF of the listed price.
This “Price Difference” is one of the lowest seen of any Tucson neighborhood during 2005. Even after the percentages buyers are on average able to negotiate off of the listed price in Ventana Canyon is much better then almost any other area of Tucson. I believe this is due to the uniqueness of the homes in Ventana and the difficulty sellers have in finding like comps to defend their listed price vs. a buyer. Buyers should hire a Realtor who understands all these fine negotiation points so they the buyer can get the best pricing possible on the home they want to purchase.
If you would like additional information about buying or selling a home in Ventana Canyon feel free to email or call and I would be happy to discuss. All emails and voice mails are returned by the end of the day most within the hour.
Additional Ventana Canyon Graphs-