The Ghost Town: Verona Development in Carmel Valley

Hi heavyd,

My friend went there last night to do some trick’treat and got a real surprise: none of the eight houses were occupied despite all the “sold” signs on the lawn for over three months.

Yes, it got a great location. But the biggiest problem with development is that it is surrounded by the Pines development which are either zero-lot or twin homes with no more than 1800 square feet.

The price has come down as you noticed. But it has to go even lower to attract serious buyers. If you read my posts on this board, you will know that I am not predicting a bust. I see another 10 to 20 percent down.