Bad times ahead?
NO SALES--After Six Months
"The Parade of Homes," which featured five display homes in the $2 million range in Southshore near Aurora Reservoir, illustrates the plight of the struggling, upper-end market in the suburbs.
More than six months after the end of the parade on Labor Day, none of the five homes has sold. One is in foreclosure. Another is expected to end up there after its builder dissolved his construction company.
This excerpt from the Rocky Mntn News says a lot. The POH homes used to sell quickly and for a lot of $, because of the prestige involved in owning a showhome like that. Now, in a micrcosm of the market, they are being foreclosed on, and the builders going out of business. A glimpse of things to come? I hope not, BUT I bet so.....
"The Parade of Homes," which featured five display homes in the $2 million range in Southshore near Aurora Reservoir, illustrates the plight of the struggling, upper-end market in the suburbs.
More than six months after the end of the parade on Labor Day, none of the five homes has sold. One is in foreclosure. Another is expected to end up there after its builder dissolved his construction company.
This excerpt from the Rocky Mntn News says a lot. The POH homes used to sell quickly and for a lot of $, because of the prestige involved in owning a showhome like that. Now, in a micrcosm of the market, they are being foreclosed on, and the builders going out of business. A glimpse of things to come? I hope not, BUT I bet so.....
