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Sunday, September 25, 2016

Could there be a worse time to sell a new home?

There are no signs that the real estate market will revive by April. But that’s when the model homes at Durbin, a 36-unit, condominium project in Echo Park, will be available for viewing, according to a sign that just went up at the corner of Echo Park and Delta avenues (aka Chicken Corner). That’s a pretty ambitious construction schedule for the developer, Angeles Group. What maybe even more challenging is setting prices. Partner Adam O’Neill says the company is looking at starting prices either in the upper $400,000 or low $500,000 range. But nothing is definite.

“It’s a moving target right now,” said O’Neill, who said some units in the first phase should be ready for occupancy in July. “We are still trying to figure it out.”

Good luck.



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