Home Sales Headlines Not Exactly Cheery!

Reading the paper today, I can only shake my head at my impeccable investment timing. Who would have thought back in mid-2000 that when the Vue Charlotte was finally finished the headlines would read: U.S. home sales plunge to lowest levels since 1995!  That the plunge, according to the NY Times article, exceeded “even the grimmest forecasts.” Here is a telling quote: “what few buyers are out there circle a listing like a vulture, waiting from the day of its debut until it’s left for dead…” 

If you have read through the blog, this of course has been my personal biggest fear about the Vue. I fear that as a pre-construction buyer, as I stand and look up at the top of the Vue, there are vultures circling waiting to pounce at prices which will be significantly lower than what I am contracted to pay.

We are going to find out soon enough how this is going to unfold. We know, as MCL has rightly pointed out, that every market is different, and that what we read about nationally does not necesarily apply to Charlotte or our specific complex. And on the positive front, prices seem to have held nationally in this latest report. So, I keep moving forward, hoping that the rest of you will continue to pass on communicatons and information so that we can have a happy ending to this saga and that in the best case, we get a fair deal, a lovely condo, and enjoy great neighbors and amenities in our new home this fall.

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