Saturday, August 15, 2009

Started too late

The blog's walk through the Grandview area on Thursday revealed signs of stress in the local housing market that are extremely well-hidden in more-established neighborhoods. We found homes completed in 2006 that have never been occupied, foreclosure homes, and empty lots scattered among the finished houses. We noted that only a single home has been completed in Grandview Crossing. The few under construction are listed at $355,000. Given that they are smallish houses with the garage right up front and the fact that the developer apparently forgot about the promised sidewalks, the blog's guess is that the asking price is 100k too high, and that it's going to be a while before the single resident has any neighbors...recent delays in blog posting have resulted from a power failure in Susan's building on campus (which temporarily blocked her access to Photoshop) and, of course, Friday wine.

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