Financial picture gloomy for those holding properties
By Mike Freeman
STAFF WRITER
September 24, 2006
When The Heights in Carmel Valley converted from apartments to condominiums last year, the owners renovated 150 of the 225 units, thinking they’d sell fast.
It hasn’t turned out that way. The Heights has sold just 80 condos, according to county deed records filed through August. Only 18 of those sold in 2006. At that pace, it could take three more years for The Heights to sell completely.
