Saturday, May 23, 2009

One Rincon Hill selling...SLOWLY

According to Socketsite, One Rincon Hill (ORH) is
at around 70 percent sold which would suggest almost no net-new contracts since October of 2008 when roughly 30 percent of Tower One inventory had yet to close.
Having worked for the same sales and marketing firm when the building first commenced sales, it seems as though sales have fallen backwards consistently since their "record-breaking" first week of sales. From roughly 330 homes sold then to roughly 250 now. Was/is this building just an investment property? Judging from the number of attempted flips and insider knowledge of staff buying multiple units for themselves, I think the answer is clear: This ain't no Infinity.

SOURCE: SOCKETSITE

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