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from Local Attorney, Michael H. Wasserman

Monday, November 10, 2008

The Sterling Condos - a follow up

The Sterling residences are just up the street, across the river from my office. I wrote about them some time ago and the high rate of foreclosures there, owing in large part to the developer's creative marketing efforts that fed the greed of many condo investor/speculators.

Here's a pretty grim example of the train wreck that we are all witnessing. The owners of this unit are having trouble selling it at a 40% discount to what it sold for four years ago!

Yikes.