Friday, December 4, 2009

Strange Things Happening At The VUE

All the active listings for The VUE Charlotte have been withdrawn from MLS! This is a strange thing to happen since the construction has restarted, and the exterior should be completed shortly.

Or is it?

There certainly is no equilivant for the type or size of building that The VUE will be. It's distinctive crown, and the amenities that will be available will be amazing, but the prices have been significantly higher than the market, and while our market is recovering, it is recovering slowly.

I was contacted by a real estate consulting firm inquiring about recent sales and rentals in the downtown Charlotte market. One of the issues I was asked was my opinion as to whether the building should be converted to rentals vs condos. I was also asked if I thought the existing pricing structure was correct.
My guess is that the developer is considering a repricing of the building.

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