Still A Good Deal
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4/15/2007
The average house in Tortolita (unincorporated Pima County) is about $300,000. But that is a little misleading in that most are on a minimum of an acre or more and average over 3 acres. Add to that that the view lots average a little more than that and costs of over a million dollars are not rare for the lot alone. The difference is that there are older (70's & 80's)homes the further one goes from the Tortolita's bring the average down, but most newer ones are currently (2007) selling for $300 to a high of $1000 a square foot. How is that a good deal? Prices on this highly desirable area continue to go up even as the burst bubble syndrome is found elsewhere. According to Sperlings house values here went up last year by 33.90%. For the last 5 years it has been over 100% or 20% a year. For investors, retiree's, and those with an eye to the future a purchase now is still likely to pay off in dollars, cents, and lifestyle. Even if you made 100% in the stock market or some other paper investment in the last 5 years, you don't get to live your lifestyle like you do in Real Estate in Tortolita.
Samuel | Casas Adobes, AZ