thriftyT wrote:
Quote:

To be clear, I already own in JC. I did visit the Saffron and need to dispute some of your language. First, 2 BRs "starting" at 399k obviously implies that the least desirable, smallest 2BR unit(s) are available for 399k. This does not in anyway imply anything that you are insinuating related to going belly up. I love the drama some of you like to create, it is truly absurd.

The facts:
As of 11/2009, the lowest priced 2 BR apt at the saffron was listed at $515K.

Today, the lowest priced 2 BR apt is available for $399K
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Interpretation:
1. The market has really tanked in 2 months.
2. The initial asking price of $515K was too high and the developer realizes it now and is making adjustments.
3. The initial asking price of $515K was never seriously considered by the developer, but was printed on all the brochures nevertheless possibly to elicit and encourage generous bids at auction. The developer has now advertised the real asking price they wanted all along.
4. Some mixture of the above scenarios.


It's called "logic", people. Use it.

o73o2 wrote:
Quote:

Well, I guess the Saffron changed their minds. Just got an e-mail from them announcing that 2 BR units there start at $399K. Those of you that insisted that these units are worth upper $400's now have your chance to put your money where your mouth is...

the developer is getting antsy ... clearly, the auction approach brought in some business, but is the developer so desperate to cut prices right going into the spring selling season? i do hope that they won't go belly up.

it would be sad for a decent, but overpriced and somewhat overhyped, property ... and particularly those who actually bought the place to live in, and not to flip.