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  • August 19, 2006 at 9:45 AM #7242
    davelj
    Participant

    As many of you probably know, Maisel Presley is one of the more active condo coverters here in SD. I was recently talking to the CEO of a local bank and he told me that Maisel Presley had “an enormous amount of unsold inventory at the wrong point in the cycle. It’s scary. And their projects are not of the highest quality – often just slapped together. They could face some serious problems soon.”

    Their website is http://www.mpcondos.com, if you’re interested.

    Just another datapoint…

    August 19, 2006 at 9:53 AM #32396
    lendingbubblecontinues
    Participant

    From Maisel Presley’s website…

    “WIN A FREE YEAR’S MORTGAGE OR RENT!

    Maisel Presley announces an August Raffle, where potential buyers can win a free Year’s Mortgage or Rent. Prospective Buyers are encouraged to pre-qualify at any of Maisel Presley’s 17, luxurious communities. Their pre-qualification form will automatically be entered into the Contest. On September 15 the raffle will take place and all the pre-qualified Applicants will have the option to win one year’s free mortgage or one year’s free rent.

    Here’s how it works. The lucky Winner has the option to purchase a Maisel Presley Condo & we will pay one Year’s Free Mortgage. However, if the Winner decides not to purchase a Maisel Presley Condo, we will give them Free Rent at one of the Developer’s Project’s for one Year!
    DON’T MISS YOUR CHANCE ON THIS TRULY AMAZING DEAL, VISIT US TODAY!”

    *Kind of gives me the feeling that EVERYONE will “win” this raffle; like the slips of paper you fill out at the mall to win a “free” vacation (actually a timeshare pitch deal for “free”) that, surprisingly, I always “win”.

    Put a fork in these clowns..they will taking it up the “arse” soon.

    August 19, 2006 at 12:31 PM #32406
    Bugs
    Participant

    Kinda reminds me of the all expenses paid vacations that are offered by the time share folks. The only catch is that you have to sit through their 90 minute (er, 4 hours) presentation on the benefits of joining the fabulous vacation lifestyle.

    Uhh, thanks but no thanks. I think I have a root canal scheduled for that day.

    August 19, 2006 at 3:17 PM #32421
    ocrenter
    Participant

    “Special Offers:
    Maisel Presley announces its Reverse Auction on unit # 203 at Villa Bonita.

    How it works: Daily we will lower our sale’s price on unit #203 a 2 bedroom / 2 bathroom unit by $1,000.

    That’s Right, everyday the price goes lower and lower until it gets to that perfect deal for you. But be careful, other people are watching and waiting to for the home of their dreams to get to that special price. You don’t want someone sneaking in and beating you to the punch.

    So watch and wait, then pounce when the time and price is right.”

    August 19, 2006 at 8:04 PM #32446
    PerryChase
    Participant

    I went to the DMV on Genessee a couple of weeks ago and, out of curiosity, while waiting, I stopped by the MP condo conversion right behind the DMV. They are not even 1/2 way complete in that huge complex. That project is way overpriced and also surrounded by not so attractive rentals. A 50% reduction in that project is in order.

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