Real Estate Prices Continue To Fall, Except at the Vue Charlotte

A reader sent me an article to this article, Home Prices Decline in 20 Cities, with the simple sentence stating “seeing this article reminds me of how insane the Vue’s prices are.” The Charlotte Observer put out its own local version with the same message in today’s paper entitled Home Prices Still Falling.

It should be clear that we are not real estate geniuses while at the same time the Vue is not. The sales team, the Developer, everyone involved with the Vue reads the same articles and knows what’s what. Speak to virtually any real estate broker, and the Vue is not on their short list. Until the prices are reset to Market levels, we will probably see a tiny number of closings.

There is a reason prices have not been reset, and not even pretending to know what it is, we can safely say one thing: whatever the reason is, it can’t go on much longer. So we’ll sit and wait for news to break, and hope that there is some way to salvage a happy ending for all involved: the buyers, the developer, the employees, the city. It is tremendously important to all that the Vue succeed.

Have feedback? Please write

A comment that just came in that I thought I would share:

The key measure of whether or not the Vue has set pricing at market levels
is the percentage of closings that have occurred from non-presale buyers. Has
there been one? more than one?
People are still buying condos in Charlotte even during a slower market so
why aren’t they buying at the Vue? Because pricing is 2x higher.
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