Tuesday, April 01, 2008

Projects on hold?

That sale is now a done deal -- well past the pending stage. The other house on my street that's been for sale for well over a year? The owner's taken the sign down; doesn't really have to sell.

On the other hand, you wouldn't know that there was a real estate problem to judge by these trucks, busy moving soil from this hillside near Rosser Street up higher, to make a flat top, suitable for new houses in Cliff Rose (below).

The Sson suggested that inertia is what keeps some projects moving along; Newton's first law in action. Do we really have enough pent-up demand here in Prescott to support a batch of new Shops at the Boulders? Funny -- when I was visiting my MD up thataway in mid-aught-seven, there wasn't much happening on this Willow Creek Road project.

It may be a gamble -- perhaps the developer is getting a price deal from excavation contractors anxious to keep busy.

In contrast, this West Gurley Street condo development seems to be awaiting better times.

Ditto at the two corners of Montezuma and Goodwin. No doubt those condos will happen one day, but probably not right away. Bet there are a few developers breathing a sigh of relief that ground hadn't been broken when the bottom fell out.


Anonymous said...

It's a delicious fantasy to imagine developers going bankrupt and selling apples on the street. But they'll probably be bailed out by the taxpayer, either directly or through inflation.

Anonymous said...

Hmmm, trucking dirt to upper Roesser? Me ponders and wonders if those new Cliff Rose homes will be built on stable ground. Things have been slip-sliding in Prescott. :-D Speaking of...anything new regarding the Lowes' wall?

~Anon in AV.

smilnsigh said...

Dirt being taken up on the Cliff... to make a flat top for houses... Mmmmm... My first thought was rain erosion. But I guess you don't get all that much rain there. Stilllll...

Noir et blanc

Anonymous said...

I wonder if Prescott's "unique market" will plough through this nationwide slow down? It has in the past years.
We have attracted so many newcomers lately, I gotta believe this warmer, dryer weather will jump start the new cautious investors.

Anonymous said...

One can only wish for the best, but from what I have been reading, things don't look good for the housing market. I think some folks just don't want to face reality.

Granny J said...

boonie -- I'll join you in that fantasy! I can just taste those apples, Jonathans, preferably, and not the overdone ones from Washington.

anon av -- I was sorta wondering about that, too. Like another Lowe's Wall in the making. As for the real wall, I believe that there's another committee or study.

SnS -- you're right, there's not a lot of rain, but when it does happen, we get a lot of erosion, fast. consider all those canyons.

style -- my problem is that I don't get around in the 'burbs, where the real estate action is, so my posts are about the center of town, where I've preferred to live for years.

steve -- we started out our home ownership life with a loan from my folks and a property in a near-slum. I wonder if people are willing to do that these days.

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