How was the VUE?

Wow, what a great event tonight! It was first class and everyone I spoke to had a great time. Can I claim to be in control of all my faculties, as I know I was despite the criticism I got from the “Avenue Aficionados” that said I had too much wine at the Dunhill? Truthfully, no I can’t!

We need to share our impressions. From what I experienced at the event, I think they are going to be across the board. I expected that. So please, let me ask that you do this. Post your photos, and provide links to photos, in a comment, on Facebook, or send info/photos to Vuebuyer10@yahoo.com. Many folks are out of town or couldn’t attend and will enjoy your VUE. Post your  public view of what you saw in a comment or on the Homebuyers forum on Facebook, or send them privately to Vuebuyer10@yahoo.com. Vuebuyer10 keeps all mail confidential, so no one knows it comes from you but you have the opportunity to get your view on things out and it really helps our readers. Some of my best posts have come from private mail sent to Vuebuyer10@yahoo.com.

OK, I have lots of personal impressions,  and as I mentioned, mine are worth a grain of salt. Each person will need to make their own decision. Here is what I am going to share tonight. The 8th floor amenities deck was out of this world. It has NO COMP in uptown Charlotte. Picture yourself out there before a Panther’s game with your friends having a VUE Panther party and I guarantee you will have all your guests RSVP with a yes. If you said to me, Mike, your choice…watch the game in a box seat at the stadium or attend a pre-game party at the VUE, I would pick the pre-game party. The swimming pool? A very important amenity to me? AWESOME. The tennis court? Cool beans. The exercise room? Hmmm…I’ll have to think about that. The dog walking area? A tremendous disappointment…too small compared to other condos I visited. Again, everyone has a different need.  If you have to accomodate a big dog? Negotiate with MCL. If you want to swim laps? No negotiation necessary…they delivered a great product. If lobby is important to you? Visit the Avenue or another complex. And we can go on. All the variables will add up to a yes or no buying decision for each of us.

So what is my personal advice tonight? First and foremost, call the VUE and see your specific unit if you haven’t already. Try to do so no matter what floor it is on. In order for you to see how hard you want to work to find a way to protect your investment, you need to love your unit. The 2 units on display tonight were not for me. That doesn’t mean though they are not for somebody. That is the beauty of the VUE…they have a wide selection of room types that appeal to a wide spectrum of buyers. I am going to elaborate further on the units in future posts. But the fact that they were not for me should not influence you in the slightest. See your unit, and I hope you love it; that is my advice tonight.

As all the hoopla subsides and folks see the VUE and what it has to offer, we will know eventually how it will sell. Some realtors love it, others probably have some issues with it. It won’t matter. Customers (e.g. the market) will decide. I have much to share, but tonight I want everyone to know that from my perspective it was a great event, I LOVED the amenities deck, and as a buyer (which I was) or an investor (which I know several are and I guess I was too)  I feel a lot more hopeful about the VUE than when I began these posts. I am a small fish in the pond. I understand that Rob Cummings is the #1 owner of the 200 pre-sales (congrats as Rob will go in the history books as the first person to close on the VUE). We’ll all need to hear from him ASAP…hint hint Rob!! <g>  And then we need to hear from #2, #3, #4, #5…and see how close we can get to 400 in the next several years.

Thank you MCL and Dan McLean and the whole project and sales team for an AWESOME grand opening! You ask me how the VUE was tonight from the Amenities Deck? Well, in the time it took me to write this post the wine has totally worn off. So you can take this VUE to the bank: it was FABULOUS!

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4 Responses to How was the VUE?

  1. Ken says:

    Just got back form the VUE unveiling. Nice building for sure. Pluses and minuses as VUE BUYER states. My feelings fall pretty much in line with his. Amenities are nice for the most part. Furniture is really nice. Pool deck and furniture is nice, just needs permanent landscaping instead of plastic pots. Lobby and gym…….. very plain. Elevators are smallish but there are 4 of them and they are super fast.

    The units: nicely appointed and finished but they didn’t WOW me like I had expected. It may have just been the units that they where showing. For the price point I would have to have a corner unit with much more windows. The 2 bed that was showcased tonight was an interior unit and had no more windows than some of Avenue’s 1 bedroom units. I love the larger balconies but noticed that the balcony above you blocked a lot of your city view when you were looking out while inside the unit.

    Overall I have to say it’s a great building. The things that stood out were the furniture and the Miami Beach feel to the pool deck area (just better landscaping please). The pool deck was fairly quiet as well which is a plus for it being in the city.

    This building is going to wow some and they will buy. I think others will walk. Such is life. I wish the project and buyers well. Prove the media naysayers wrong and sell this place out within a year ! The news is already showcasing some Realtor who’s trash talking it saying Uptown has taken a 25% hit, yadda, yadda, yadda. Maybe some places like the ones he sells that are sinking into the ground and who’s HOA dues have doubled (5th and Poplar).

    Real estate is taking a hit all over the country and all over this town. I drive around the Burbs all the time in my line of work and there are numerous foreclosure/eviction notices on homes everywhere. This is not an “Uptown” only problem. But we all know that the news can’t generate revenue with stories about Suburban woes. Uptown stories sell, good or bad.

  2. Holly says:

    Very interesting reviews so far, hopefully we will hear more from others. I wasn’t there, but am curious as to why Ken in his comment above is giving the developer a potential “bye” on the quality of the unit. Ken says: “The units: nicely appointed and finished but they didn’t WOW me like I had expected. It may have just been the units that they where showing.” Why is it that they wouldn’t be showing the very best units they have? Were they not ready? Or is the unit you saw indicative of all the units? I can’t imagine that in planning this very important day the developer thought to themselves: “let’s show them the common are, the pool, and a below-average unit”. I would think they would show their best and brightest.

    Not to sound like a broken record, but let’s get back to the facts. Banks. Appraisals. Loan-to-value. Mortgages. This is where the rubber meets the road. Is the $1 million unit you put money down on 3 years ago worth $700,000 today? If so, walk and buy it all over again and save yourself $150k. If it’s worth $1 million today, and the best source of that worth is an independent bank appraisal (there money is on the line, they will have a lien on your unit and they don’t want to be underwater) as part of the mortgage process. We should now move from adjectives to numbers.

  3. Ken says:

    Holly,

    The only thing I can think of is that the premium corner units are likely all contracted and the developer probably didn’t want 500 people walking through it last night scuffing up the floors when they would be having walkthroughs in the coming weeks.
    Don’t get me wrong, the units are really nice. I just don’t feel they command that much more money than their nearest competition – The Avenue. I feel you could upgrade Ave units for pennies compared to what Vue is asking. But it’s an emotional purchase for many as well as an investment. There’s plenty of units approaching $1 million as well as units well over that. At that price point I think you are dealing with a lot of people who will have the cash to buy it and not think twice about if they are making a $200,000 mistake. If they like it they will just buy it. I feel it’s a totally different story with people buying in at $500,000 and below.”As far as walking away and buying back in at a lower price point goes…… I believe the developer is going to stick to the binding contracts and not allow people to walk. I guess we will see what happens over the next few months. I really want the Vue to succeed though. It has to.

  4. RJC says:

    As Vue Buyer stated, I did close yesterday. I didn’t realize I was first until I walked into the closing attorney’s office and he said, “so you are the guinea pig.” Overall closing process was a breeze. No surprises except expect to pay 2 months of homeowners dues in advance as part of a capital contribution. Everything else was what is included in the pre-closing docs that Roberta (from the attorney’s office) sends over to you prior to close.

    One funny story from last night was that a lot of the subcontractor’s management were at the party – the windows guy, the floors guy, the architect, etc. I was chatting with Randy (Exec PM) and he began introducing me to all of them as “405”. I guess from their vantage point everyone is just a unit number. Apparently “405” and “14xx” were the two buyers they have been focused on the past few weeks as the first to close.

    I will post additional closing thoughts on Facebook: The Vue Charlotte – Homebuyers private group. Best of luck to everyone and I hope to see you all around the 8th floor sometime soon.

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