At San Elijo Hills, a 3,463-home subdivision in San Marcos, four home builders under contract to purchase 257 single-family lots passed on the deals, forfeiting deposits totaling @12.6 million, according to filings with securities regulators from HomeFed Corp., the developer of San Elijo.
At Del Sur, a master-planned community in San Diego's Carmel Valley, builders not only have walked away from options on 70 lots but have sought delays in closing sales.
Texas-based D.R. Horton wrote off $125 million for abandoned deposits on land nationwide during fiscal2006, which ended in September.[tags] real estate bubble, real estate bust, housing bubble, San Diego real estate, California housing bubble, San Diego home builders, San Diego homes[/tags] Mariposa townhomes San Diego
I think people’s expectations of multiple digit appreciation each year in real estate is now proven to be a total fallacy.
Marie
San Diego Cosmetic Surgery
I think people’s expectations of multiple digit appreciation each year in real estate is now proven to be a total fallacy.
Wendy
San Diego California Dentists
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