by Calculated Risk on 5/08/2009 03:08:00 PM

I took this video this morning (my first YouTube, so please excuse the quality).

This is a project in Irvine, CA called Central Park West. The project was built by Lennar and mothballed in 2007. I was surprised the area was open and fountains were all running, but unfortunately the information center was closed.

New condos like this are shadow inventory - they are not included in the Census Bureau new homes report, and they are not listed in the MLS. But they do exist.

Here are the Las Vegas "Manhattan West" photos mentioned in the video.