While the sale office of Radiance at Mission Bay was advertising 14 units and “up to $18,000 in federal and state tax credits” a week ago, according to a plugged-in tipster they’re down to 12.
I attended a party at Radiance for homeowners & brokers to mark their sales success. They announced that they had only 12 units remaining. They have 3 new models.
That’s around 33 sales over the past twelve months and prices appear to have been unofficially reduced a bit more since their official reductions of up to 27% in February as #508 which was originally asking $1,569,000 and then reduced to $1,319,000 was last advertising a sale price of $1,299,000 (and is now marked as sold).
And of course plugged-in people should know that 18 thousand is down to 8 for those who haven’t already applied.
∙ California $10,000 Tax Credit Pool For New Home Buyers Closed July 3 [SocketSite]
∙ Rare, Refined And Reduced: Radiance At Mission Bay Official Cuts [SocketSite]
∙ Radiance At Mission Bay Phase I Update: 55% “Sold” And Closing [SocketSite]
That $8000 would most likely not apply either since there are income restrictions associated with them. Most under those gross income limits would not be buyers for these condos.
No one seems to be discussing this development too much. I visited the place and thought the units were nice. However, I’m still surprised to see that the development is 88% sold. What are they doing differently? Have they been offering huge discounts to buyers? The advertised unis still seem a bit expensive to me, especially considering the location.
Anyone know whether there is talk about continuing Phase II?
I represented a Buyer who purchased a condo at Radiance and closed this past week. Working with the developer’s sales team was a positive experience and my Buyer is thrilled with the outcome. Quality construction and finishes at a very competitive price.