Construction on condos and townhouses is nearly completed on the last sizable parcel of open space in Foster City. They will sell for $1.0 million to $1.6 million, an unbelievable sum to those of us who paid (cough) well under that amount during the 20th century.
In fact your humble blogger bought when Foster City homes sold at a discount to the rest of the Peninsula (our town was built on landfill over Brewer's Island, and houses "settled" about an inch a year, or so it was rumored).
The developers aren't crazy. They're marketing the properties to the over-55 crowd, many of whom are trading down and may even be buying without taking out a loan.
We don't have a hospital, though, so don't get a heart attack during rush hour when it takes an hour to go across the freeway.
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| Homes on the lagoon cost over $2 million. |
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