From the Rocky Mountain News: '07 Parade fails to make a sale.
Everyone loves a parade.
But maybe not so much if you were one of the five builders in the 2007 Parade of Homes.
The "parade," which featured five display homes in the $2 million range in Southshore near Aurora Reservoir, illustrates the plight of the struggling, upper-end market in the suburbs.
More than six months after the end of the parade on Labor Day, none of the five homes has sold. One is in foreclosure. Another is expected to end up there after its builder dissolved his construction company.
The home, which features a "woman's getaway space - a place for solitude, renaissance and peace," according to advertisement literature, is on the market for $1.825 million.
That must be where they "entertain", Biff, the hunky personal trainer.
Wayde Jester, consulting director for Metrostudy, a Houston- based realty-research firm that has been tracking the Denver area for seven years, said the problem "may be one of simple supply and demand. There's been a lot of building out there. If someone wants to invest $2 million in a home, it might not be southeast Aurora for most people."
You don't say?!?
Friday, April 18, 2008
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