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Uptown Condos Overpriced?


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Not Charlotte.....I just got out of a meeting with a developer who moved here from CA, who freely admitted that he paid $50k more than he should have for his house on Lake Norman, but he didn't care because it was such a great deal compared to CA.  :rolleyes:

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That's the kind of behavior that hurts rather than helps. Paying more than what a home is worth causes the very problems I'm talking about! :wacko:

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That's the kind of behavior that hurts rather than helps. Paying more than what a home is worth causes the very problems I'm talking about!  :wacko:

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Well actually a home is worth what someone is willing to pay for it. An investment is worth what someone else is willing to pay for it. A big difference and the party buying the property has to decide exactly what they are purchasing.

If you are buying a home it really doesn't matter what you pay as long as you are happy with it.

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Ironically enough, most of the gas guzzling SUV drivers I know were the same people who were environment freaks in the 70's.  I think most (and I emphasize most, not all) people just shift with the crowd and with the demands of the times.  Paying 15% of your income out in energy costs tends to make you conscious of it, whether you think it is moral or not.  Regardless, I won't question the trend as I think it is a healthy one.

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I don't doubt this at all. Its really bad when the truely once environmentally religious have fallen as much as they have. And the down side is they can't be an example to those who follow.

I too gave up my 45 mpg econo-car for a gas guzzling luxury SUV. (I don't drive it that much however)

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Well actually a home is worth what someone is willing to pay for it.  An investment is worth what someone else is willing to pay for it.  A big difference and the party buying the property has to decide exactly what they are purchasing.

If you are buying a home it really doesn't matter what you pay as long as you are happy with it.

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Yes, but I mean within a bubble market. The overbuying and overvaluation of homes (among other things) causes the entire market to crash.

Yes, it does matter what you pay. If I wanted to sell later, I'd hope to make money on my property, not lose money. And if I buy a home for more than it is worth now, there is a very good chance I will get less for it later.

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hello all, new to this forum, but been live in the Queen City for almost 8 years and I love this city.

Someone suggested to me to buy one of these uptown tower condo units and leasing it out to corporations or individuals and have a property agent lease the unit you own. I'm sure there's positives and negatives to this type of idea...

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