Okay doc, crushed might be a poor choice of words. Let’s say the market in LCG is less than healthy from a seller’s standpoint.
The house on Citrine I alluded to was purchased from Pulte Homes in October for $1.316 million. The owners immediately tried to flip it with an initial asking price of $1.4-1.7 million.
Their biggest problem is they’re competing against Pulte who has reduced their asking prices to move inventory. If you have access to sales data that would disprove the discounting, please share.
To make a long story short, they’re now asking $1.3 million and it doesn’t look like they’ll get that much with Pulte selling two competing and larger units through the MLS for less.
While LCG as a whole may not be getting crushed, I think it’s fair to say that anyone who has bought and tries to sell will get crushed.
