The builder of the 14 homes called Emerald Pointe is just hanging on – hoping that some retail buyers might surface that could put a couple of bucks in his pocket.
In 2007 they sold the two prime locations at the end of the culdesac for $1,870,000 and $1,934,500.
In 2008 they sold five others from $1,370,000 to $1,600,000. Half way home!
But we’ve had further deterioration in the market of ‘high-end homes that are close to the busiest one-runway airport in the country’. Sales have stalled on the other five they are trying to unload for $1,200,000 to $1,300,000.
You’ll see in the beginning a couple of old builder tricks:
1. Putting sky-high prices on homes not yet built, to make current inventory look like a deal.
2. Putting sold signs on those not sold, in an attempt to create some urgency.