Three luxury homes on Tucson’s North Side sold for hundreds of thousands below their listing prices at an auction on Saturday.
The homes, located near North Country Club and East Fort Lowell roads, sold for prices ranging from $396,000 to $519,750, said real estate broker Stewart Larsen, who handled the auction. The previous listing prices ranged from $622,000 to $769,000.
The event on Saturday drew about 50 people, but only 12 registered to bid, Larsen said. Two home sites at the development, The Commons on Allen Road, were also up for sale at the auction, but had no takers, Larsen said.
Larsen, who specializes in auctions, said he doesn’t mind if the events draw many onlookers who aren’t bidding.
“At least it exposes them to an opportunity that have to go this route,” he said.
Larsen said he will likely be handling more auctions in the Tucson area in the near future.
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