I spoke with a buddy of mine at a major bank who has underwritten lots of mortgages at Shore. He says there are dozens of buyers already behind on their payments and that they never would have been given a koan in today's environment. He says to expect lots of foreclosure sales in the coming months and that banks might be the sellers because LTV is over 100 percent because of equity losses in the property due to Aqua/Ellipse.

where are people getting their information?? I personally do not believe that a unit would sell for over 100,000 at the Shore since Aqua/Eclipse are definitely bringing down the value of the Shore and not to mention interest rates are rising - what was the unit's original price and what was it sold for - clearly you must know this information or are you just "speculating"

Thanks for the address.
Here is what I was able to find so far (in Hudson County public records).
I could not locate a single resale.
If you are able to find out, please point it out so I can make adjustments.

There are 219 units in SC South. 170 are owned and 49 are still available as of 6/2/07. This info. is 2 weeks lagging.

There are 23 different design. I can only compare the ones where the same lines have been purchased. Ones to consider are floors 9-28 lines 01,02,03,05,06,07,08,09,10,11,12. Those lines had approx. 12 out of the 15 floors sold. Others units are one offs and will probably not reflect properly.

I will look at the first few lines and if people want more then I will post more. Once again I have alot of free time.

Line 01- Sold for $555,880 (10th floor) - $660,000(17nd floor). Most recent sale was on 5/23/07 on the 22nd floor for 654K but a 23rd floor was sold a week earlier for $599,799. 104K difference b/w highest and lowest but 23rd floor was sold for 600K on 5/18/07. 45K diff. b/w 10th and 23rd floor doesnt seem like too much of an increase.

Line 02- High 621K low- 540K. 40K difference b/w fist and last sale. 7 floors higher for the last sale though. highest ws on 10th floor and lowest was on 15th floor.

Line 03- High 439K Low- 377K. lowest was on 10th floor and highest was on 23rd. 11th floor sold for 409K a week after 10th floor.

Line 05- High 464K Low- 406K. Lowest floor and first sale of 430K. Highest floor sold as one of the sales sales for that line sold for 441K.

Line 06- High 475 for 12th floor on 4/6 Low 376K on 10th floor on 3/19. 25th floor sold on 5/29th for 422K.

Line 07- High 871K Low 664K. Over 200K difference. 871 sold on 5/1 on the 20th floor. On 5/23 the 23rd floor same design sold for 710K.

Talking about Shore bashers. how come the other buildings, such as Maxwell, even Mandalay, Portofino, etc, don't get such severe bashing. Maybe there is some truths to the concerns about Shore?

Unit numbers. I.e. 01 would be contingent on the floor. could be 1001,1101,1201,1501, etc.

Also found this interesting. Not sure if its been said before but if I know Im sure everyone else does too. Shore club was either targeting or assumed many Chinese people would move in. No knock on Chinese people, just stating a fact.

Reason being- notice there are no 4's? There is no 4th floor, no 14th floor, no 24th floor and no 4 lines. All 4's are absent on purpose. 4 is the unlucky number for Chinese much like 13 is for Americans.