Highly competitive bidding amongst developers, as you can either plop down 3-4 condo units @ $650k+ depending on location etc, or 1 $1.5M single family.
The only reason that house went for what it did last year is because it would have been like pulling teeth to tear it down, as it should have in the first place. otherwise that nieghborhood goes for $8-900K, > if in great condition or good location.
Last edited by e57; 05/09/07 11:30 AM.
