A rezoning, and then a sale without mention of the rezoning

[Travis M.]

Hi all,

I found a piece of property in a nice SFR neighborhood, which was just listed for sale. In exploring zoning, I noticed the owner just (this year) had an ordinance approved, rezoning the property to a PUD, which allows for construction of up to two duplexes on the property.

Interestingly, the seller is making no mention of the rezoning in the sales ad, and is treating it just like a regular old SFR.

Can anyone think of any reasons why the owner might have abandoned plans, or is not drawing attention to the rezoning. The deal is as follows: 

Asking: 225k  (196$/sf)

SF: 1,145

Lot: 90x175

There are 1,000 sf condos selling in the neighborhood for $180k, so new development seems to make sense. I can't imagine why he would go through all the trouble of rezoning and then just market it as a SFR...