I am visiting different sections of Charlotte and looking at Charlotte Condominiums. And I am keeping up with the general condominium news by reading and listening.
Iteration: A tower once announced in one year, the land for the tower was closed on the following year and now, the ownership has changed. The expected dates have changed considerably and it appears that perhaps 50% of the project is under contract with delivery in 2010. Or thereabouts. I am curious about folks who went to contract a couple of years ago and how those purchase prices hold. I know of one builder who had a clause that allowed the contract to be null and void at their call. Prices went up on materials and contracts were cancelled. Read the fine print.
Ownership and Investors: This keeps coming up. Who bought, who is looking to flip, what are those percentages. Stopped in one small complex on my tour. A brand new complex where one third of the units are occupied by owners, one third are on the market by investors and one third are on the market by the developer.
Cotswold I take my hat off to the developer of Rosewood at the corner of Providence and Sharon. I really and sincerely hope they make a good return. I loved the rose gardensat the corner for decades and the grand old yellow two story home place…andwhile I loved that setting, I think Rosewood is quite a beautiful accomplishment. The whole intersection has changed for the better. And the folks at Rosewood stayed the course against the naysayers. I think they were ahead of their time. Rosewood is currently on the Showcase and well it should be. Bravo!
I will be viewing and reviewing Charlotte Condominiums. If you have questions, please be in touch. I’ll try to answer them. Meanwhile check out Chuck Graham 2Q Real Estate Report on TheRealEstateLady.com.
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