Home Buying in Tucson>Question Details

Georgeek, Home Owner in Tucson, AZ

Does anyone know why 973 s pantano overlook, is still available? Is the appraisal coming in way low?

Asked by Georgeek, Tucson, AZ Tue Nov 27, 2012

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Spirit Messingham’s answer
I have shown this property before, distressed REO. There is almost no backyard, these are built more like patio homes but I will give this property credit in the views department. Backyard opens up to a vast wash looking east, fantastic mountain views but inside needs major work.
0 votes Thank Flag Link Thu Nov 29, 2012
It is in a desireable location but needs aplliances and a lot of cosmetic help. It is not a home that appeals to a lot of buyers and is probably going to be bought by an investor. The best way to get professional advise is to work with a licensed agent. That way you get the expertise and help that can really help you. Also remember, your buyer agent costs you nothing as they get paid by the seller's RE Broker. Let me know if our Team can help you.
0 votes Thank Flag Link Wed Nov 28, 2012
Best to go directly to a LOCAL pro at "Find a Pro" in the header of this website for local advice.
0 votes Thank Flag Link Tue Nov 27, 2012
What is your definition of a "long time"? It has been on the market for less than 100 days. Have you looked that the comps, the past sold's in the subdivision? These are more like patio homes, tiny backyard and not for every buyer. I am working with a couple of buyers in that price range, looking in the East area but are looking for a larger lot, and/or no HOA.

Seems like you have a lot of questions. If you are not already, I highly recommend you work with a local Realtor, most of the time for buyers there is no cost to you (as long as it is listed in MLS and other conditions apply). Why not take the time to click on profiles of the agents that took the time to answer your questions, give one or two a call & go from there.

Knowledge is power, work with an experienced local Realtor.

Best of luck.

Spirit Messingham, PLLC
3rd Generation Full-Time Realtor®
Tierra Antigua Realty
Direct (520) 471-6900
Fax (866) 365-5208
0 votes Thank Flag Link Tue Nov 27, 2012
Like previously stated this home is bank owned and has been on the market for 47 days. Prior to the foreclosure it was listed for $299k for about a year.
0 votes Thank Flag Link Tue Nov 27, 2012

That property is still for sale. It has been on the market for only 47 days. It is a bank owned (REO) property. Until the listing agent receives an acceptable offer, there is no appraisal performed. Even then, an appraisal is performed more for the buyer's lender than for the home buyer. That is, if it is a cash sale, a buyer may opt out of having an appraisal performed.

If you need more information on the home buying process, I suggest you contact an experienced local Realtor. If you don't already have a Realtor, I'd be happy to answer any questions you may have.

For more in depth information on the 85710 area, please feel free to use the Market Insider function on my website. The link is below.

Good Luck!

Jo Ann

P.S. Check out what my clients are saying about me in my testimonials!
0 votes Thank Flag Link Tue Nov 27, 2012
It's a foreclosure, and it is still available because no one has made an offer that is acceptable to the owner, Fannie Mae.

Donna Moulton
Associate Broker
Tierra Antigua Realty
0 votes Thank Flag Link Tue Nov 27, 2012
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