New Property That Isn't Selling

[K B]

My partner and I have come across a new development that has had to halt construction due to low sales numbers. The properties are going for around 90 cents/sq foot, which I'm told is a steal. Anyhow I'm in no rush to buy these at the moment, however it seems the area is developed and still growing. Prices are looking to drop on these new properties further, so of course I'm interested. I have a feeling the current market is scaring off potential buyers, and the area has a strong smell...I'll have to look into why it reeks of cow patties, but other than that the homes are very nice.

So what indicators should I be investigating? I've been told both Starbucks and Home Depots are good signs as their market research is top notch, but what else should I be looking for in a burgeoning community? Schools? Local employment opportunities? Local industries?

Investing in up and coming communities has always been an interest of mine, living in So Cal I've always heard about these booms and buying in at the right time, so of course I'm interested.

Also, what is leasing with an option to buy? I read that is an enticing offer that sometimes accompanies these types of buys.

-Kelsey