It was nice to start hearing from readers again after quite a hiatus in activity at the VUE. While we still stand at 18 sales, we’ll surely see a sale here and a sale there as we move into the fall. Unfortunately we won’t see the sale below according to this letter I received last week:
I just wanted to say the previous writer made some very valid points. I have been looking for a condo for about 6 months now. My desire was to be in a high rise, (essentially The A or The V)….I have toured units in both many times…I’m a slow but serious buyer, and I must say….the units in The Vue are great, but way out of line in terms of price, not only in terms of the market but the current position (activity level) of the building. To buy there is no sure thing…it’s a risk, not something you should pay a premium for.
So what’s a guy to do? March down the street and make an offer on a property where the seller is realistic about price and market, and where the building staff acknowledge you and genuinely seem happy to see you there…..that has not been the case on either of my tours of units at The Vue. FYI…I have a closing date…money that could have gone to The Vue is now going to The Avenue.
Not that you want it…but my opinion is that the bank and the owner need marital counseling….that relationship is not working for them or us, and it’s not going to change unless they do.
So let me make a few comments about the above feedback. First off, this is exactly what the VUE needs to hear and readers need to hear in order to make good decisions and fix things that are broken to get things right. The insight I like best that comes from this letter is that it makes no sense to have to pay a premium for a building fraught with so much future risk. The prices the pre-sales buyers paid were too high, but I can only assume from this note that even the lowered prices on units to new buyers are also too high. This is something we’ll all need to understand and track as sales continue.
I did find it disturbing that there seemed to be some problems in the sales office. This is something the sales team can’t afford right now, no matter how much of a tire-kicker a customer might be or how serious or not serious the sales team might perceive the buyer is. I can only imagine how tiresome it must be to have done all the showings they must have done with so few sales. But as Coach K says to his team: “next play.” My experience and feedback prior to this has been the sales team has executed as well as can possibly be expected so hopefully this is a one-off.
Finally, the interesting suggestion that the Developer and lenders need marriage counseling. That could very well be the case. However, there may be another scenario. And that is that the lender and developer did go to marriage counseling and the therapist’s action plan was this: “sell what you can until the court case you have appealed is decided, and then come back and see me once that decision comes through.” That would be a sign that the marriage does have a chance of holding together. Even if the decision doesn’t come back in MCL’s favor, it could still even work (although it is hard to see at this point how).
While I have readers at the Avenue, I have seen both, and I would choose the Vue. This reader obviously didn’t but the closing hasn’t occurred yet. Maybe the VUE can save this sale. And in the meantime, if these blog posts continue for too much longer, I too may need some marriage counseling.
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