When I called J.P.King – an organization which ran the Condo Auction, I was told that only 18 Units out of 58 had been sold. 16 of them due to the Developer’s commitment and only 2 more after that. The price ranged from $72,500 to $120,000, but Buyers had to pay extra 10%. In the adjusted numbers it become: $79,750 – $132,000.

Due to the outcome of the Auction, Developer is selling 10 Condos post-auction at $89,900+10% or $98,999 total.

Tucson MLS has it now as Listing #20909843:
7255 E SNYDER Rd, Tucson, AZ 85750 Active (03/05/09)
Beds: 3 Baths: 2
Sq Ft: 1209 Lot Sz: 7500sqft
Area: North Tucson
Year Built: 1995
Price/SqFt: 81.89
ONLY 10 UNITS AVAILABLE AT LOW POST-AUCTION PRICING OF $98,999/UNIT. THE AUCTION HELD ON APRIL 28 SAW VALUES AS HIGH AS $132,000/UNIT. Features: 2 & 3 bedroom floorplans * Quality, affordable living * Many units leased offering income potential * Excellent permanent residence, vacation home or rental investment opportunity! DEVELOPER WILL ONLY SELL 10 MORE UNITS. BUYER CAN PICK FROM REMAINING INVENTORY.
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The terms of sale include: 10% non-refundable down payment, 30 days closing time, Sold AS-IS and no financing available (except for private financing, if you can arrange one). The reason for no financing – the development doesn’t meet the guidelines of Fannie Mae and Freddie Mac.

If you are interested in buying a Luxury Condo in Tucson and have cash for a low price tag of “Villas at Sabino Canyon” or interested in Tucson Foreclosures / Short Sales you can finance – give me a call at (520) 370-0700 Anjelina. I am licensed in Arizona Real Estate agent and I specialize in the Catalina Foothills area.