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Subject: Odd Posting on Craigslist.org

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Smith

01/24/2007 8:32 PM Alert 
Even during the boom days I never heard of purchasing a reservation to get a 10% discount. I *really* wonder if this type of approach is going to work in this market. On top of that a $400K, 540 square foot studio is way too much.


New condo on Cortez Hill

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Reply to: hous-267789916@craigslist.org
Date: 2007-01-24, 11:49AM PST


$20,000 to $100,000. SOLARA LOFTS. Go to solaralofts.com for photos and details on floorplans and amenities. Units range from 540 to 1700 square feet and from studio lofts to 2 bdrm/2 bath in this 77 unit, 8 storey building.

Purchase a Priority Reservation which entitles you to a 10% discount on prices offered to the public for a condo of your choosing at Solara Lofts on Cortez Hill in downtown San Diego. Minimum value of this reservation is $39,000!


RESERVATION MUST BE PURCHASED BEFORE FEBRUARY 6, 2007.

I will provide listing prices for specific units($399K to $1.5M)to interested parties.
Nick

01/25/2007 9:05 AM Alert 
I really think the buzz of a lottery is over, you have to show people why any property will work for them and how it's priced at market. Studios are at best $300K not $400K.

It does look like a cool project.
Jon

01/25/2007 10:37 AM Alert 
Studios are worth only $130k. That works out to to about $1300/month including HOA and property taxes. Only one person can live in a studio.



You have to be crazy to buy anything from the developer now. There are so many units that are now, or will soon sell under the developer prices.



Plus it's always nice to be able to walk a finished product rather than buy from a virtual video presentation.

Smith

01/25/2007 11:12 AM Alert 
I think the sales model is nutty as it gets but I also like this project a lot. It's also going to be hooked in with a new tower as well. I'll try to post a picture/link.
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 Forums  >  Condominium Communities  >  Solara Lofts  >  Odd Posting on Craigslist.org
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