Comments on: Encore Condos Offer Close Out Prices

By: Embattled 5th & Main Condos Earn FHA Approval | Nashville Real Estate

Embattled 5th & Main Condos Earn FHA Approval | Nashville Real Estate — Wed, 20 Jan 2010 14:31:01 +0000

[...] to stack up very well and is sure to compete for buyers who are interested in newer buildings like Encore, Velocity and Viridian. As rough as that may seem, the real pain will be felt by the smaller [...]

By: The West End Condos Auction Results | Nashville Real Estate

The West End Condos Auction Results | Nashville Real Estate — Mon, 07 Dec 2009 20:41:07 +0000

[...] has sold 30% of their 105 condos, the Icon in the Gulch has sold 48% of their 420 condos and the Encore has sold almost 80% of their 332 condos. Condo inventory is burning off, but is that rate fast [...]

By: Advice for Nashville Condo Buyers | Nashville Real Estate

Advice for Nashville Condo Buyers | Nashville Real Estate — Tue, 17 Nov 2009 00:11:39 +0000

[...] sounds like a good theory, but I rate the Encore as the second safest place to buy a condo in downtown Nashville behind the Adelicia in Midtown. I also rate it as the best place for an [...]

By: zgoldman15

zgoldman15 — Sat, 31 Oct 2009 00:50:29 +0000

Great info, thanks!
Zach Goldman
(831) 392-6993
http://www.EliteCarmel.com
http://www.ZachGoldman.com

________________________________

By: zgoldman15

zgoldman15 — Sat, 31 Oct 2009 00:34:45 +0000

So what do we do?
Zach Goldman
(831) 392-6993
http://www.EliteCarmel.com
http://www.ZachGoldman.com

________________________________

By: zgoldman15

zgoldman15 — Fri, 30 Oct 2009 19:50:29 +0000

Great info, thanks!
Zach Goldman
(831) 392-6993
http://www.EliteCarmel.com
http://www.ZachGoldman.com

________________________________

By: zgoldman15

zgoldman15 — Fri, 30 Oct 2009 19:34:45 +0000

So what do we do?
Zach Goldman
(831) 392-6993
http://www.EliteCarmel.com
http://www.ZachGoldman.com

________________________________

By: Falcon2

Falcon2 — Fri, 30 Oct 2009 14:08:45 +0000

I agree with Grant. Unless you want to take a big hit there is no sense in trying to sell right now. The developer sales in this building for the last several quarters have more or less been tracking at about $250 a square foot when you strip out all the incentives being piled on. (Furniture allowances and prepaid HOA fees don't do anything to make the unit more valuable.) And from what's been in the paper the developers are in survival mode so they're likely to do whatever is necessary to keep units selling. The auction wrinkle that surfaced this week will only add to this. If you can, hang in there and keep your unit leased for at least another year, maybe two. And be glad you have a lease permit in a building that has restrictions. Those limitations will make Encore a more attractive choice for buyers when the dust finally settles.

By: GrantHammond

GrantHammond — Thu, 29 Oct 2009 22:33:06 +0000

81% of the building is sold out which leaves 78 unsold condos owned by the developer. The developer, Novare and Giarratana, have been smart enough to leave two experienced sales agents right inside the front door of the building to 'grab' every piece of business that comes through the door. Compound that with the fact that most condo buyers know that the developer's advertised price is just that, an advertised price and that there are tons of incentives to be had during negotiations. This leaves us owners in the building at a complete disadvantage. The developers' cost basis in these units are 20-25% less than ours and they have almost paid off the entire construction loan. All of this adds up to the fact that we just cannot compete with a developer owned condo on price and incentives.

By: zgoldman15

zgoldman15 — Sun, 25 Oct 2009 14:26:14 +0000

The real deal please

Zach Goldman
(831)392-6993
www.EliteCarmel.com