The Tucson Land Market
November 5, 2008
Been looking around the land market recently here in Tucson, and was curious as to how many lots were selling compared to homes, if prices were dipping. Here’s what I found, in fancy chart form, because who doesn’t love a good graph?
Average and Median Lot prices in Tucson since 2000
Number of Lots Sold in Tucson since 2000
Ways to Take Title in Arizona - Decisions to Make when Buying Real Estate in Tucson
June 20, 2007
When you buy property in Tucson, you’re going to be asked by your Escrow officer how you want to hold title. Most people don’t know what the options are, and ask me what way is best. Unfortunately, I can’t advise you in that area. Each method of holding title may have legal and tax consequences, so you should consult your attorney or CPA to determine which way is best for you.
However, I’m not prohibited from providing some general information!
Arizona is a Community Property state. This means that the system presumes that all property acquired by a husband and wife is community property. If a husband and wife want to own property separately, or in any other way than as community property, they must explictly elect to do so, often with the other spouse signing a disclaimer to the property.
Other ways to hold title include:
- Community property with right of survivorship
- Joint tenancy with right of survivorship
- Tenancy in common
- Sole and separate
- Corporation
- General Partnership
- Limited Partnership
- Limited Liability Company
Here’s a link to a short description of each type, and another link to a more indepth discusion of the more common ways of holding title, as provided by Title Security Agency.
Tortolita Vistas - Lots Now Available to Buy if you are looking for Land in Tucson
June 4, 2007
I received confirmation today that Tortolita Vistas is now selling lots. I’ve been hearing the buzz about this land subdivision for a couple months now, and it would seem the developer is finally ready to sell off the land.
Tortolita Vistas is 230 acres with 150 custom home sites, ranging from 3/4 acre to a bit over 1 acre per lot. Based on the location, there ought to be fabulous mountain views of the Catalinas and the Tortolitas. For those familiar with Northwest Tucson, this development is just East of Dove Mountain.
They should be ready to write contracts in about 10 days.
35 lots are available now. Pricing starts at $265,000 for 3/4 acres, and runs up to $347,000 for the higher elevation lots.
I can’t post the brochure and price list here, but am happy to email them to you. Just Ask!
Cottonwood Properties is the developer, and the listing Brokerage is Dove Mountain properties.
Saguaro Cliffs - Tucson Land and Custom Home Subdivision
May 27, 2007
Let’s visit the West side of Tucson and take a look at Saguaro Cliffs.
Saguaro Cliffs started out as a land development in late 2004: a developer bought the parcel, subdivided it into lots, and created all the roads, brought utilities to the lot lines, and set it all up to be sold as parcels of ready-to-build land.
There are 61 lots total, ranging from 1.5 acres to roughly 3 acres, although there are two owners in the subdivision that have extraordinary lots, at 4.6 and 6 acres, respectively. Utilities are underground, and have been brought to the lot lines. Septic systems are required, as there is no city sewer in the area.
Saguaro Cliffs is a gated community, but at this point, the gates are only closed on Sundays since there is ongoing development in the subdivision.
It is also a custom home community, where each lot owner gets to hire their own builder to create their dream house, and there is no restriction on when the house must be built. There are community rules that govern, among other things: building height, colors used, and size of the house and accessory structures. Minimum house size is 2400 square feet. As of today, lots are priced between $250k and $350k, and houses range from $850k to $1.2 million.
Saguaro Cliffs is a very striking community, with a good deal of open space between houses. Most lots either have city views or mountain views, and both are spectacular. The association has kept a natural feel to the landscape along the roads, and it feels like a nice, quite, remote community.
I’d place this neighborhood about 10 minutes from the freeway, and maybe 15 minutes from downtown.
It is quite a spectacular place, covered in saguaro, palo verde, jojoba, and mesquite trees.
For more specific information, send me an email and let’s discuss!
Why won’t anyone sell me land?
May 1, 2007
I received a call the other night from a gentleman looking to buy land in Southeastern Tucson. He had contacted several other Realtors, all who wanted to sell him a piece of land with a HOUSE already on it! Being quite frustrated, he found me online, and decided to call.
“Why,” he asks, “Why doesn’t anyone want to sell me land?”
It’s a good question. A lot of Real Estate Agents don’t want to sell land, or be involved in transactions having to do with land. The bottom line is that houses are easier to sell. Land is a lot more work.
When buying land, there are many more questions to be answered and research to be done:
- Is there water available at the property? City water or will a well need to be dug?
- Is there sewer connections available?
- Will a septic system need to be installed? Will the land drain well enough for a septic system to work?
- Is there electricity available at the property? Does it come all the way to the lot line or is the closest power half a mile away?
- Is there gas available? How far away is it?
- Is there cable available? How far away is it?
- What kind of housing can I put on this land? Are manufactured homes allowed?
- How much of this land can be developed?
- Can I build a guest house or workshop on this land?
- Will the deed restrictions allow me to build a two story house on the parcel? Will home design and colors be restricted?
- Where are the boundaries of the land?
- What can be build on the adjacent parcels?
- Where are the easements on this property?
- Where can a structure be built on the property?
- Is the parcel in a Hillside Development Zone?
And that’s just the BEGINNING of the questions needing to be answered!
Given the additional research and the specialized knowledge needed to buy and sell land in Tucson, some agents have made the business decision to not get involved in land transactions. Not every Real Estate Agent is up to the task of selling land!
If you’re looking for a special parcel of land in the Tucson area, send me an email at kelley@housechick.com, or call me at (520) 918-5246, and let’s see if we can find you the right piece of dirt.
Photo courtesy of Arkntina.
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