--- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote:
>
>
>
> So I just leave a finance guy who, familiiar with Wesley etc:
> - 3/4 of the units are "sold". - (note, not closed) non-refundable
deposits
> - the units facing the water are sold.
> - none of the top units are sold
> - co's have been issued.
>
> when asked about the broken windows...he said someone oin the city
was quoted as
> saying "there is a big, big problem with gangs.."
>
> I aksed him where he got the sales numbers from... a city rep.
>
> I don't doubt units were sold - but that was 2 years ago. see who
goes to the closing
> table.
>
> C-8 in the beginning was "almost sold out".
>
"non-refundable deposit". More like live & learn...they put down
$60,000 & agreed to purchase the property for $600,000. The property
has obviously dropped in value since the contract was signed. Better
to lose $60,000 then be locked into losing $250,000.
This is going on across the country with new construction. Luckily for
the developers in Asbury, the property tax is abated, so they're not
forced to discount to get a quick sale & can wait out this downturn
until the housing market comes back up again.
I suppose my Lucent stock will be worth $80 again too someday.
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