Californian Chris Romero's biggest worry two years ago was missing out on the action. He had his eye on a $200,000, two-bedroom condo in a project called La Jolla Real in Rosarito. But by the time the then-Diamond Bar resident was ready to commit, the developer had raised the pre-construction price to $250,000.
Instead of folding, Romero doubled down, handing over a $120,000 down payment to lock up two units -- one for $238,000, the other for $270,000 -- before prices increased again. The retiree and his wife reckoned they'd sell the cheaper one just prior to closing and use the profit to help finance the other."The market was booming," said Romero, 60.
No more. With the development nearing completion, he's finding buyers scarce and competition fierce. Rosarito is littered with so-called "resale" units whose owners are looking to unload them. Romero is offering a $5,000 bonus to anyone who can bring him a buyer. His $290,000 asking price is "negotiable." And he's willing to provide financing.
Btw, Sr. Varones assures me that including the word "cum" in the first line of a post is a surefire way to increase readership.