Last year, March of 07, I helped a client buy a home near Rita Ranch. After negotiations he purchased the home for a little over $202, 000. The home was a spec home with 1760 square feet, 4 bedrooms and 2 baths.
About a year later, in May of 2008, he called me to sell the home. You can see my cute little “for sale” sign in the photo : ).
We listed it on June 03 for $229,000. He accepted an offer on July 19, 2008. He was on the market for only 46 days.
We closed escrow (recorded) in August 13, 2008 for $229,000, just 66 days after we listed.
So, when all is said and done, that home appreciated over $26,000. in just a little over a year.
The moral of my story is this, yes homes are still appreciating in Tucson. There are also some that have not. It’s all comes down to buying right and knowing how to sell.