Despite the competition, condo developers say they are confident and are not ready to slash prices. Now people are getting financing. The Brannan has 15 units available in tower two, which is available in June. The third tower is not leased but won't be available for a year. We aren't panicking.
People are interested.
It will only get better once baseball season rolls around. One Embarcadero has many units available because most were not on the market until Feb. 28, said Sacco. The high-rise is converting from apartments to condos and the units not on the market were being used by employees or were leased, he said. Smith, on the other hand, was surprised that Eikon held back from making more units available during the economic boom. If the economy heads toward a recession and consumer confidence falls, luxury housing will be a tough sale, Smith said.