I live not too far from this project and I was surprised the developer even put that type of house there. I was shocked when they broke ground on it because I knew they were already way too late.
Those homes have been sitting vacant for a long time. They started out at $1,500,000 (!!!). Talk about the 40% discount in Carlsbad. I’d be surprised if the $900k was a break even for them after the holding costs.
Somebody isn’t getting their Christmas bonus this year.