Archives

October 2007

Recent Home Sale in Sonoita

Posted at 8:41 PM, Oct. 31, 2007

I recently closed a sale on one of the more expensive homes in our area. This was a very special home with an attached guest house and a secondary living (rental) unit on 16-1/2 acres. Very private and wonderful views of the Santa Rita Mountains. The sale price was $960,000.

How's the Sonoita-Elgin market?

Posted at 8:06 PM, Oct. 31, 2007

The 2007 real estate market is now 20 months old. The end is in sight. How has it been so far? What can we expect for the last 2 months? The first 10 months of 2007 have been good. The national real estate dynamics do not seem to be affecting this market - so far. The Tucson MLS has recorded 34 residential sales and 63 land transactions. There has also been one commercial sale. The total sales for land and homes was $27,209,300. The commercial sale was $1,395,000. The most expensive home sale was $1,670,000 in the Crown C. The median sale was $378,000 and the average price per square foot was $192. On the land side the median rice was $120,000 and the median price per acre was $19,000. Most notably, one 80 acre parcel sold for $1,100,000 after only 40 days on the market! The last three months have been quite good considering the time of year. There have been 25 transactions totaling $8,332,896. The average price per square foot was $$157 and the median price per acre was $17,167. Land sales have been slow for both the year to date and the last 3 months while home sales have been fairly strong. My prediction is this will continue and the last two months will be typically slow.

The Recent Sonoita, Elgin and Patagonia land market

Posted at 12:13 PM, Oct. 6, 2007

The land market for the past four months through the end of September has been rather soft. Out of 14 MLS recorded sales, 4 have been in Patagonia (including Three Canyons), 7 in the various sections of Elgin and the remaining 3 in Sonoita. Overall, the median price per acre was just over $21,000. The reason for the somewhat high price is that with the exception of three parcels, the sales were mostly for 4 to 5 acre pieces. These were all about $21,000 per acre and the 10 acre parcels sold for around $16,000 per acre. The best "deal" was a 10 acre parcel in Rain Valley at $150,000 (splitable). THe 4.14 acre parcel that sold in Three Canyons fetched $$178,400. I don't expect the land market to change much until after the first of the year when our "season" begins.

This month's best buys

Posted at 4:12 PM, Oct. 1, 2007

Our Sonoita-Elgin-Patagonia market is quite a bit different this year versus previous years. Along with this, there seem to be some homes and land offerings that are particularly attractive. What follows are what I consider homes and land worthy of taking a hard look at because they represent excellent value in our market. Some are my listings, of course, and most are not. Please contact me for further information on any of these:

Land - Look in Papago Springs for a small lot with water. 2 lots under $65,000. Elgin represents the best value for nominal 5 acre parcels. 2 lots at $65,000. Elgin also has some values on nominal 10 acre lots. 3 lots between $165,000 and $199,000. One 20 acre parcel in Elgin stands out at $225,000. For larger parcels (36+ acres), Sonoita Creek Ranch has several starting at $249,000. For a really large parcel, try the Crown C. 72 acres for 425,000.

Homes - One of the best values on the market for someone not needing a large parcel of land is in Casas Arroyo. 2,348 square feet for $395,000. If you want more land, there is a nice, 20 year old home in Sonoita Hills. 3,180 square feet on 4.16 acres for $449,000. If you need a larger home, try Papago Springs. 3,308 square feet on 1.98 acres for $595,000. If you are looking for lots of land and horse facilities - and are not immediately concerned about a larger home - then there is a real value in the Crown C. 1,400 square foot house on 81 acres and one of the best horse barns in the area. Lastly, if you need a lot of space, there is a 5,000 square foot house on 20 acres close to the crossroads. Price, $1,125,000.

For more information on any of these, please call (877-SONOITA), email (ckrealty@mac.com) or visit our website, www.SonoitaProperties.com