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I need advice on the Viridian

pathy01

By pathy01
in Nashville Coffee House

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pathy01 Crossroads

pathy01

Posted
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I like the Viridian (mostly location) but the prices seem astornomical. I swallowed my pride last week and made an offer on one of the 618sf for 205k. Thats still $331 a sf! The offer was refused. My realtor said the seller paid 211k for it last January and they weren't ready to take that hit.

It seems to me that your typical Viridian resident is single and 25-35. How is this genre able to afford notes much higher than 205k? I decided I'm going to wait it out the next few months and see what the market does. How low do you think these things will go?

Does anyone know how many of these units are being rented? It looks like the going rate is $1500. This seems to be a popular option for these units now. Again who can afford this?

Thanks.

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Lexy Town

Lexy

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I can't help you because I am numb to money at the moment. LOL!! But you bring up a point I have been trying to get across from some time now on here. The downtown housing market has priced the middle income residents (the ones moving to the suburbs) right out of the market, and in essence right out of Nashville proper. $1500 a month for rent is just stupid, I don't care if it's in the Empire State Building. That is just rediculous IMO. But I digress.

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Wild Style Unincorporated Area

Wild Style

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I can't help you because I am numb to money at the moment. LOL!! But you bring up a point I have been trying to get across from some time now on here. The downtown housing market has priced the middle income residents (the ones moving to the suburbs) right out of the market, and in essence right out of Nashville proper. $1500 a month for rent is just stupid, I don't care if it's in the Empire State Building. That is just rediculous IMO. But I digress.
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Lexy Town

Lexy

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I pay 1400 a month for a 3 bedroom here in south florida (I hope to move to Nashville in December when I graduate)

I have a question for you guys. Is the housing market tanking (or showing signs of slowing down) in Nashville like it is here in South Florida?

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pathy01 Crossroads

pathy01

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I will say this for the Viridian... They have the best floorplans hands-down. Their smallest unit 618sf shows really nicely, and I would take it over the 720sf plan at Encore every day of the week.

Since I saw where Encore was slashing prices this week I decided to visit their agent. I asked her if they had any limitations on investors and she said an emphatical "NO!". She also said they were only going to allow 25% of the units to be rented. This tells me alot of bag-holders are going to be in some deep water if the market doesn't turnaround pretty quick. I am hoping to get a steal next summer

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Midtown Unincorporated Area

Midtown

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I will say this for the Viridian... They have the best floorplans hands-down. Their smallest unit 618sf shows really nicely, and I would take it over the 720sf plan at Encore every day of the week.

Since I saw where Encore was slashing prices this week I decided to visit their agent. I asked her if they had any limitations on investors and she said an emphatical "NO!". She also said they were only going to allow 25% of the units to be rented. This tells me alot of bag-holders are going to be in some deep water if the market doesn't turnaround pretty quick. I am hoping to get a steal next summer

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