Several encouraging signs are emerging in the Arizona land investment market.
Since March 1, 2011 there have been 11 lots sold that have closed escrow in the Santo Vallarta subdivision, which is located near Power Road and the Hunt Highway. Most of the lots were only on the market for a month before closing escrow.
The Santo Vallarta subdivision report had been on hold pending some drainage issue approvals, but once they won approval, Cynthia and Lee Tanabe, of Desert View Realty, sold these parcels quickly.
Lot sizes were mostly around ¾ of an acre in size, many with views, on paved streets with city water available. Sale prices of the lots sold by the Tanabe’s, so far, range from $27,000 to $28,500 per lot. Two additional lots were sold by Darin Wall of ProSmart Realty for $32,000 and $36,000 respectively.
See Tomorrow’s Arizona Land Guy post to read about a $9,000,000 land and lot sale in Pinal County.