People who manage property consolidations refer to a single landowner who resists all purchasing offers as a “spike.” The lone holdout can sometimes spike a complicated deal single-handedly to the detriment of surrounding landowners hoping to profit, and developers trying to assemble a large enough parcel to justify an apartment building, office complex or shopping center.<\/p>\n\n\n\n
Motives vary. It may be impossible for a homeowner to break emotional bonds with a property for any price. Maybe they’ve lived there since birth and they want to remain there during their golden years. Others may be willing to relinquish their claims but only for exorbitant sums that have little basis in reality.<\/p>\n\n\n\n
Either way, here is what can happen when a developer can’t strike a deal with a spike. The developer has to find a way to work around that sole remaining parcel:<\/p>\n\n\n\n Reputedly the owner of this property turned down offers as high as $2.75 million for his dilapidated house on a tiny slice of dirt. He held every card until the developer reconfigured the design. Now he\u2019s facing foreclosure and asking $1.5 million for the parcel but he\u2019s unlikely to get anywhere near that amount. Who would pay that much for this<\/em>?<\/p>\n\n\n\n![\"Refused](\"https:\/\/www.howderfamily.com\/graphics\/blog\/spike_house_washington_dc-1.jpg\")
<\/a>The Situation in Washington, DC<\/h2>\n\n\n\n