The town of Coeur d'Alene, Idaho is known for its pricey vacation homes but because of the economy it has been slow going selling the condos at one pricey development. The condominiums at The Terraces in Coeur d'Alene
are priced from $3.5 million and come with amenities like a two-car garage, covered boat slip, memberships to the Coeur d'Alene Resort Golf Course and limo service from the airport. The Spokane Statesman-Review reports
that the Hagadone Corp. the developer of the project, has decided not to drop prices on the 30-unit development. It opened two years ago and so far eight condos remain unsold, listed for prices between $3.5 million to $5.9 million, prices that could also get you a luxury home in the area. But many people use these condos as vacation homes and appreciate the ease of use. They can even opt for units which are furnished and decorated to save time for enjoying the summer on the lake.
There is some hope in the air with regards to condo sales in this scenic destination. Discovery Land Company recently opened a 28-unit condo building at Arrow Point on the lake with units running from $1.7 million to $4.5 million. So far six condos have sold and nine more units have sales contracts according to Discovery spokeswoman Erin Dixon said.