I lived at a friends condo here (Columbus Square of Tustin, CA) for a while before I bought my own place, I decided to drive by to see how the developement was doing after the mortgage downfall in 2007. Looks like most of the construction is being finalized, sad that the rest of area is still just a huge massive dirt field and and weeds since most of the investors backed out in 2009.
When I was looking to purchase a house/condo in 2006/2007 I was very interested in this new development. Prices were at a premium but this area was planned to be massive, beautiful, with two elementary schools, one high school a huge park and various housing developments, it would be great for people looking to start a family. None of that has happened, this little square area is still pretty, but it is surrounded by nothing at this point. I have no doubt that the development will eventually start up again, but it's going to take a while because consumers are not willing or able to pay for what they were asking. Some of these homes were bought for $500,000 - $800,000 in 2005-2007, some are even in the millions price range. Recent MLS listing shows that many were sold for $200,000+ less then what it was purchased for originally.
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