While it is hard to know for sure, I try to convey as best I can the sense of what is happening at the Vue Charlotte. While the news may come slowly due to the deliberate public record’s process we have in the city, it is becoming clear to me that sales momentum is building and that some buyers are moving off the fence and deciding to close.
From the standpoint of the blog, the goal is to accurately convey what is driving the decisions to close. There are 2 catalysts that I see currently. The first is the looming threat of the lawsuits. Buyers simply do not want to get involved in a costly legal entanglement. This is perfectly understandable.
From the buyer perspective, if you put yourself in the Vue’s shoes, you can’t really blame the Vue on this. These lawsuits had to come to protect their investment. On the flip side, you can’t blame many of the buyers either. They felt that they had the perfect legal right to walk away and lose their deposit. As I have said previously, I don’t think there is an easy way to judge the odds of what the judge will ultimately decide. And the unfortunate thing for both sides is the decision isn’t coming anytime soon. I am sure from both the Vue’s perspective and the buyers’ perspective an answer on this matter would clarify a lot of decisions.
The second possible catalyst is the appraisals. The blog is slowly collecting intelligence on this and needs more information before doing a post. The ask is that you please share your information so we can get a decent picture of where they are coming in and what is being used as a comp. If we see buyers can now get appraisals that match the contract price, this could lead to more sales as this was a major roadblock for many.
To sum up though, I think we are going to be reporting some sales here over the next 2 weeks. So keep those seatbelts fastened!
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