I had booked 2 view lots in St George, Utah.[actually they were in Hurricane, but its close by St George] last year for $70k. Apparently they’re worth around $130k right now. However the developer still hasn’t gotten them ready to build on despite messing around for nearly a year.
I’m really pissed and apart from the loss of opportunity, I’ve tied up 10k in that project. I asked the builder to refund my money. About the same time I heard the builder was refunding everyone’s money anyway. Being the nice guy that I am, I got quite a few of my friends in on the deal. Somehow everyone got their money back earlier than I did. Anyway, I finally got my check in the mail this week.
I was considering sending a threatening letter from my lawyer, but I thought against it. For one, I don’t have the time to waste on bad investments. Secondly [and more importantly], the St George market has become saturated. The standing inventory has gone up about 400% in 12 months. So if the builder did get me my lot and the builder built on it, it would be ready in October which is a bad time of year to be selling a house!
Anyway its the same builder I metioned in this post and I’m just happy I no longer need to work with them anymore.