Comments on: Home Sales Down in the Tucson Luxury Market? http://www.mytucsonblog.com/market-discussion/home-sales-down-in-the-tucson-luxury-market/ Everything you need to know about Tucson and Real Estate - and then some Fri, 30 Jul 2010 17:05:44 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Scott http://www.mytucsonblog.com/market-discussion/home-sales-down-in-the-tucson-luxury-market/comment-page-1/#comment-1721 Scott Fri, 16 Jan 2009 01:49:54 +0000 http://www.mytucsonblog.com/market-discussion/home-sales-down-in-the-tucson-luxury-market/#comment-1721 Oh, Tucson luxury market - please do drop. I'm ready to move now and buy in Tanque Verde, but I won't pay $1,000,000 for a $500,000 house that has been vacant since it was built. I'll maybe pay $750,000, albeit with a pained grimace. I theorize that it is developing into a battle of wills between speculator sellers with very deep pockets, and snowbird buyers like me who are facing 20%-30% losses when selling their current homes, and who want to see evidence of the same drop at the Tucson end before we come into town to buy. How deep are those pockets, anyway? So far they seem bottomless. Oh, Tucson luxury market – please do drop. I’m ready to move now and buy in Tanque Verde, but I won’t pay $1,000,000 for a $500,000 house that has been vacant since it was built. I’ll maybe pay $750,000, albeit with a pained grimace.

I theorize that it is developing into a battle of wills between speculator sellers with very deep pockets, and snowbird buyers like me who are facing 20%-30% losses when selling their current homes, and who want to see evidence of the same drop at the Tucson end before we come into town to buy.

How deep are those pockets, anyway? So far they seem bottomless.

]]>