I need some pricing help in Tucson

[Levi T.]

I need some local expert input on the Tucson market.

I’m looking to buy a winter home in Tucson for my own personal use. The market looks like it’s gotten hot over the last year, but now prices are being slashed.

As I don’t know the market, It’s hard for me to know how far off I am from a deal vs a mistake.

Tax assessments have dropped by 1% in the last two years, just sitting at $458k on that front, sellers have slashed 27k off asking price this month which bring it to 650k asking, it’s in the Catalina foothills at 5735 E Calle Del Ciervo in Tucson. They started at 750k back in March of 2018, so it’s clear they are going to keep chopping till it’s sold. So that’s where it’s at, how far down should I be making an opening offers?

I kinda want to go to 550k, but that may be a little to steep as I don’t know where the floor really is for the Tucson market.