Christina House/Los Angeles Times
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VICTORVILLE -
Poor timing coupled with a poor economy has forced the demolition of brand new homes.
The two-story homes in Victorville were part of a 16-unit project that was given the go-ahead in September 2007, before the housing market took a turn for the worse.
About 12 homes were in various stages of completion before the wrecking crew arrived late last month.
Four homes were finished -- complete with granite counter tops, luxury bathtubs and dual-pane windows.
The last of the structures was expected to be torn down Tuesday.
When building permits were issued, the median home price in the county was $325,000, according to DataQuick. But by March, that number was down to $160,000.
Construction stopped last summer and the homes began to attract vandals and squatters, according to Victorville city spokeswoman Yvonne Hester.
Hester said vandals were taking items like sinks and air conditioners.
Guaranty Bank of Austin took over the development last year and decided it was cheaper to tear the houses down than to continue building and try to sell them in a dismal market.
Demolition permits were granted April 9.
It's said it would have cost the bank nearly $1 million to continue the project. Tearing it down cost about $100,000.
The materials from the demolished structures will be recycled.
The two-story homes in Victorville were part of a 16-unit project that was given the go-ahead in September 2007, before the housing market took a turn for the worse.
About 12 homes were in various stages of completion before the wrecking crew arrived late last month.
Four homes were finished -- complete with granite counter tops, luxury bathtubs and dual-pane windows.
The last of the structures was expected to be torn down Tuesday.
When building permits were issued, the median home price in the county was $325,000, according to DataQuick. But by March, that number was down to $160,000.
Construction stopped last summer and the homes began to attract vandals and squatters, according to Victorville city spokeswoman Yvonne Hester.
Hester said vandals were taking items like sinks and air conditioners.
Guaranty Bank of Austin took over the development last year and decided it was cheaper to tear the houses down than to continue building and try to sell them in a dismal market.
Demolition permits were granted April 9.
It's said it would have cost the bank nearly $1 million to continue the project. Tearing it down cost about $100,000.
The materials from the demolished structures will be recycled.
