Turtle Ridge: Looking at the Market Through Rose-Trellised Lenses

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>>By avoiding selling the place, they avoid taking a huge paper loss to reflect the reality of the market.

I suspect that is the problem I am running into.
 
In that same Ledges tract, 31 Crimson Rose sold on 6/15/07 for $2,275,000. That's around $670 per Sq Ft. There are 9 current listings in Ledges, priced between 1.369M & 1.849M. And 21 Rose Trellis is in escrow, as a short sale.
 
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