One of the benefits I am finding to blogging is that you meet great people and eat and drink very well. Having been trained on hot dogs from Costco and Sonic, and what used to be Spoon’s but not sure that even exists any more, the opportunity to rendezvous and try Matt’s Chicago Dog in uptown for lunch sounded too good to pass up. I had seen this while strolling to football games, but had never stopped in. I am truly glad I did.
I bought 2 hot dog combos, 1 combo for me and 1 for the person I met with (sorry Dennis, you had your chance at the Dunhill!) I shelled out about 7.00 for parking, so the total cost of this date was about 22.00 plus gas to get there. But when I add up what I learned while enjoying the dog and fries sitting outside on the Green, I think I got a far better ROI than I am going to get on my VUE Charlotte condo.
Since I wasn’t sure that my good friends at the Facebook forum were going to help with the Vue Orlando Lake Eola investigation, I decided to take part of the job on myself. I now have some information in hand, and I am glad I fully digested the hot dog prior to retrieving it.
In essence, the pre-sales buyers who moved into the VUE were financially massacred. I don’t know any other way to say it. Apparently, the hot dogs we ate yesterday weren’t the only ones thrown into a grinder. The condo sales for the previous year at Lake Eola are below, along with the sales price, and what the original buyer paid for the units. You will see approximately 50-60% losses in value. [Remember in the Deja VUE video the woman that said she wasn’t going to lose money!]
If you believe Orlando real estate market has no connection with Charlotte, no need to read any further. Just take my advice and order the Matt’s “Chicago Style” Dog Combo. If you do feel that maybe there might be a connection, and if you have a hunch that if the folks in Orlando had made a fortune on their units we would certainly have seen that worked into the Vue Charlotte sales team’s pitch despite it being a different Developer, then study the table below.
From here on I am going to try to stay away from Lake Eola. If this kind of bad news keeps up, I am probably going to have to stay away from Uptown as well. With the superb summary you hopefully read yesterday from CharlotteJW and with the financial devastation incurred by pre-sales buyers in a project as similar as can be with the one here, you can probably glean that my mood is not quite where it was the night of the party!
Holly, in an excellent comment some days back, mentioned let’s get away from adjectives and get back to numbers. Holly, here are a few to chew on if hot dogs are not a part of your daily diet!
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P.S.S. In fairness, it is indeed accurate to say that the Orlando/FL markets were a bit different in terms of how they appreciated over the years and how prices have collapsed. Each of us will need to decide for ourselves how different. My job is to inform, and express my personal view, which again, you should take with a grain of salt. I am the last person you want advice from when it comes to investing in real estate, or any other asset for that matter. Food and wine recommendations, on the other hand, you can deem much more reliable!
P.S.S.S. Vuebuyer10@yahoo.com is the place to write if you have feedback or questions or information to share. Many have written but I hope to hear from many more so we can all stay as informed as possible and have some fun as VueBuyers!