Viridian resales to date

[Richard Lawson]

Sorry for the sloppy look but I couldn't get the excel file to upload. Here's data I pulled together last night. I had wanted to put in the loans taken on the initial purchase but ran out of time. I may do that later.

unit initial price resale price gain percentage gain original sale resale

2502 208700 276450 67750 32.46286536 12/7/06 5/23/07

3015 827000 1050000 223000 26.96493349 1/31/07 5/23/07

2014 312800 370000 57200 18.28644501 1/12/07 5/21/07

2906 211650 250000 38350 18.11953697 1/11/07 4/30/07

1706 199000 230000 31000 15.57788945 11/3/06 4/27/07

2303 174600 250000 75400 43.18442153 11/2/06 4/30/07

2613 327200 340000 12800 3.91198044 12/8/06 4/25/07

2608 219900 275000 55100 25.05684402 12/13/06 3/22/07

2915 332050 445000 112950 34.01596145 12/22/06 3/8/07

1804 212050 243000 30950 14.59561424 12/29/06 3/21/07

2115 336600 445000 108400 32.20439691 12/12/06 3/16/07

2114 349800 422000 72200 20.64036592 12/11/06 3/9/07

2415 348317 430000 81683 23.45076468 1/31/07 2/28/07

2015 327350 395000 67650 20.66595387 11/14/06 3/2/07

2511 142400 220000 77600 54.49438202 12/6/06 2/28/07

1104 188100 205000 16900 8.984582669 10/5/06 3/6/07

2514 339560 480000 140440 41.35940629 12/8/06 2/27/07

2402 209650 307000 97350 46.43453375 11/28/06 2/13/07

2311 148400 228500 80100 53.97574124 11/28/06 2/6/07

2914 336200 440000 103800 30.87447948 2/5/07 2/5/07

total gains 1550623

average 77531.15

[nashvillwill]

wow! alot of people made alot of money. It looks like the last on was resold the same day of original purchase. it looks like someone made 103k in one day! someone got rich and someone was ripped-off.

[Richard Lawson]

wow! alot of people made alot of money. It looks like the last on was resold the same day of original purchase. it looks like someone made 103k in one day! someone got rich and someone was ripped-off.

[barakat]

Thanks for doing this, Richard. I've been watching the prices on the xx02 units for a while. Whoever paid 307,000 for 2402 is crazy! A similar unit on the market was priced over 300k, but it's been reduced to 289k.

[Richard Lawson]

Thanks for doing this, Richard. I've been watching the prices on the xx02 units for a while. Whoever paid 307,000 for 2402 is crazy! A similar unit on the market was priced over 300k, but it's been reduced to 289k.

[Hankster]

Do you know how many are still on the market?

[CONDOGUY]

I can fill you in on that, 65 are still on the market and 6 sold in May. Looks like sales are picking up, probably due to price drops.

[Hankster]

I can fill you in on that, 65 are still on the market and 6 sold in May. Looks like sales are picking up, probably due to price drops.

[it's just dave]

The owners of some honky tonks on Broadway just dropped $1 million or more on one of the penthouses in a resale according to the NPost. Couldn't see the article, but I guess money in them thar' tonks. Whew.

[ATLBrain]

At least until the Preds leave town.

[Jeeper12]

This article in today's Tennessean seemed relevant to this thread.

http://tennessean.com/apps/pbcs.dll/articl.../706110316/1615

The reporter either doesn't seem very sold on the Viridan or downtown living. It will be interesting to see if the original buyer made any money on this flip. Seems like a big haircut off his asking price. Any thoughts ?

[titanhog]

This article in today's Tennessean seemed relevant to this thread.

http://tennessean.com/apps/pbcs.dll/articl.../706110316/1615

The reporter either doesn't seem very sold on the Viridan or downtown living. It will be interesting to see if the original buyer made any money on this flip. Seems like a big haircut off his asking price. Any thoughts ?

[Jeeper12]

Sorry Jeeper...I didn't notice the reporter being negative towards the Viridian or DT, I must have missed something...but...I'm glad to see someone with a true vested interest in DT stake his claim. I really hope for DT to become a great place to live, work, play and still be a great tourist spot. My other hope is that retail will soon follow. I wish we could get a mini "Miracle Mile" going somewhere DT.

[samsonh]

Agree with you usually lately Jeeper, but not here. He seemed happy and realistic about his purchase. Reporter seemed positive as well.

[smeagolsfree]

I didn

[Jeeper12]

According to someone who keeps track of what is going on at the Viridian there are now 61 active listings and another 20 or so that were active that haven't sold but for some reason aren't currently shown as active in the MLS. So it sounds like there are still about 80 or so owners that would prefer not to be. No closings occured in the last few weeks and average closing prices on all resales is down to about $344/sf despite a handful of initial resales over $400/sf late last year. Sellers continue to be stubborn asking, on average, $373/sf but week to week price drops of $10k or more are becoming more frequent.

Edit: I pasted this here from another thread after I remembered we had a V resale thread.

[Jeeper12]

The tug of war at the V continues. There has only been one new reported closing since my last post on this thread. Unit 1403 sold for $220,000, or $299/sf. The original buyer probably lost some money since the initial purchase price was $208,000 and there were two brokers (6% commission) involved in the sale.

[CONDOGUY]

Actually 4 more units closed including 1403, unit 1406 for $225,000 ($304/sf), unit 2601 for $499,000 (340.61/sf) and unit 2801 $525,000 (358.36/sf). 4 have offers and 2 are pending. Sales seems to be steady as the prices have droped a bit.

[Hankster]

Actually 4 more units closed including 1403, unit 1406 for $225,000 ($304/sf), unit 2601 for $499,000 (340.61/sf) and unit 2801 $525,000 (358.36/sf). 4 have offers and 2 are pending. Sales seems to be steady as the prices have droped a bit.

[Jeeper12]

Actually 4 more units closed including 1403, unit 1406 for $225,000 ($304/sf), unit 2601 for $499,000 (340.61/sf) and unit 2801 $525,000 (358.36/sf). 4 have offers and 2 are pending. Sales seems to be steady as the prices have droped a bit.

[Jeeper12]

It never ever seems to be as bad as certain forumers here have portrayed. Mmmmm.

[CONDOGUY]

Sales are picking up at the Viridian. So far this month 3 units have closed, 5 are now pending and 3 have offers waiting on contingencies to me removed. Not bad for this early in August - a normally slow month.