Alexis - It just so happens that I'm doing extensive research on land in the area. Where is lot 106 in the Foothills III section? I see you also have lot 105. From what I have seen, the sales right now are from 6,000 to as much as 15,000 per acre. I would imagine it has to do with the view, terrain, how far into the mountains the lots are etc. Some lots have underground electric and others like Kennedy does not. I know it would make a difference to me. I know that there was a couple of recent sales on the "Real Arizona" website. I think it is realarizona.com The actual link is -
http://www.realarizona.com/tubac-foothills-real-estate-listi
The guy seems to be the major realitor for the area. My guess is the pricing is probably in line with what it should be. Two recent sales were for $8,600 per acre (approx) and another very large lot (almost 40 acres) was for 6,000 per acre. Again - all the lots in the Foothills are
selling mostly in the $7,000 to $12,000 range (average).
I'd love to know where lot 106 is? I'm in the market... ;-) As a buyer - I can tell you we are not worried about the "assessment" as much as our two motivations. 1) Buy, sell in 5 years and a splittable parcel is more desireable in that case 2) If the land is stunning, we'd want to buy and build but best case is buy, split in 5 years and build. We'd be willing to pay more in case #2 ;-) 3) Comps but not in the formal assessment sense of the word. Anotherwords, once I narrow it down to 2-3 lots - it will be value and potential for the money. Cheers.. - Feel free to email me if you want to give me more info.
- Fri Oct 19 2007, 08:01