Unless you’ve had your head in the sand for the last few months you’ve seen that this is not a good time to be a developer. Bob Ball unloaded the Wyatt to an unnamed buyer in the Pearl. Buena Vista Homes auctioned off 147 homes. D.R. Horton held and auction and the Oregonian reports of a whole subdivision going into foreclosure. The first three situations may not have turned out too bad for the developers; we don’t know the financials behind the story. The last example, today’s story, can’t be good no matter how you look at it.Portland Real Estate Blog