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Auction at Paseo West
Paseo West, a brand new subdivision in Manteca, is having such a hard time selling new homes that they are going to auction off 34 new homes in mid-October. Some 90 houses are built now, only 27 have been purchased, making it somewhat of a brand-new ghost town. Those who own the homes are really angry about the auction, where bids start at 40 percent off asking price. They fear their values will go down and the neighborhood will suffer.
[MEDIA]http://www.mercurynewsphoto.com/2007/10/auction.flv[/MEDIA]
Paseo West, a brand new subdivision in Manteca, is having such a hard time selling new homes that they are going to auction off 34 new homes in mid-October. Some 90 houses are built now, only 27 have been purchased, making it somewhat of a brand-new ghost town. Those who own the homes are really angry about the auction, where bids start at 40 percent off asking price. They fear their values will go down and the neighborhood will suffer.
[MEDIA]http://www.mercurynewsphoto.com/2007/10/auction.flv[/MEDIA]
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