Tuscon short sales

Home prices up because higher priced homes hitting the market at distressed prices. I’ll have to dig around our own statistics to see if that’s what’s happening in Greenwich, but I believe it is.

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4 responses to “Tuscon short sales

  1. nobody

    Tucson???
    This is Greenwich. If you want a similar data try Atherton or Montecito.

  2. Patrick

    CF,
    What do you think about the recent sale on park avenue. It sold for $1,250k in 2009 and just sold last week for $1,375. As far as I know the house was not touched – no renovations. Obviously one house does not represent the entire market, but it does appear that OG and Riverside might be increasing a bit or at the very least stabilizing.

    • Patrick, I do believe that we’re seeing the bottom. Architects and builders I work with are getting busier because there’s almost no new construction, and well priced homes, especially those on good streets and in great condition, are moving. Even in the worst of the market, I had buyers, many of whom are still around because of sellers’ unrealistic pricing but we’re gradually picking off the good houses, and I think next year will bring better ews for sellers. For now, it’s still a buyer’s game, with select houses offering opportunities – next year, it may be the seller’s time – we won’t e getting back to 2007 prices in a hurry, but I anticipate prices rising agin.Unless, f course, interest rates climb.

  3. anonster

    from a zerohedge poster- but fits here too-

    The FBI is executing warrants on Wall Street, the Koreans are chucking explosives at one another, Europe is oscilating in a vortex of financial implosion, we have structurally high and persistent unemployment, a housing market that continues to erode, record deficits, two open-ended wars, a mortgage-backed securitization problem emerging of epic proportion, Federal Reserve monetization of debt as a primary monetary policy, States and municipalities in financial peril, and Bristol Palin on the verge of stealing the election….

    ALL THE INGREDIENTS FOR A MASSIVE RALLY!!!!!!