7.12.2009

The Audacity of Hope: 144 N. Rios, Solana Beach

Remember 144 N. Rios? The four-plex condos some greedy developer was trying to sell for more than $1.5 million each when single-family homes in the area have trouble selling for more than $1 million (this search shows 51 listings and 4 sales in the past 3 months meaning 38 months of inventory, and only one of those sales was east of Highway 101).

How did that spring selling season work out for our greedy developer?

Well, it's been more than a year now, and they are still holding out for the original price of $1.55 million. I think it's only a matter of time before they give up and give it back to the bank. I'd be shocked if they are still making payments on it.

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