Or out of town, anyway, and with good reason: there’s no real estate business going on. Fudrucker just left for Block Island but did one last run through the Town Clerk’s office to check foreclosures. 44 (or so) since June 15th, including this one at 110 Clapboard Road. Its builder originally asked $21 million but ran out of money and now offers it, “80% complete”, for $15 million. The note being foreclosed on is $12 million, and I’d guess that the lender’s going to lose money. Good opportunity for my vulture readers, though – maybe $7.5?
The rest of the foreclosures are less impressive, but scattered throughout town. September should be interesting.