It’s official.   Vantage Pointe has refunded deposits to buyers and is changing the way they approach selling the development. Buyers were unable to secure financing since the lending laws require that 70 percent of the units in a development be presold. The largest San Diego condo project has been 4 years in the planning, and now needs to revamp their plans.

The project now will be divided into five phases, so that each phase can easily secure the number of presales necessary for loans.

Vantage Pointe will re open to the public with new pricing, new amenities, and increased buyer interest. Incentives are in the works for current buyers who will be given the option to repurchase.

Meantime, San Diego condo buyers who have waited up to four years, can now consider other homes. Neighboring Sapphire Tower, Bayside at the Embarcadero, and Electra might be good choices.

Call me to tour these San Diego condos.