Opulence

This home is within walking distance of our development. I took a stroll over there this morning despite the oppressive heat. The home sits on part of the property that was formerly two, 18 hole golf courses.

Several years ago, before the housing bubble burst, the developers decided to redesign the area. They divided the land into luxury homesites and combined the two golf courses into one new one. The lots were marketed starting at $249,000 dollars US!

The only requirement was that homes were to be built within a two year time period from date of sale. Within that two year period, the market collapsed. Some problems ensued with the developer and law suits filed by the existing lot owners began.

To date, only one house has been built and it is not occupied. Some lot owners have sold their sites and others are hanging on, awaiting the outcome of the law suits. The new golf course, along with other promised amenities, have not been completed.

Both the housing market and the fate of this development is at a stalemate. They say better times are coming. It's anybodies guess as to when.