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pathy01

I need advice on the Viridian

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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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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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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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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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There are a lot of speculators left in the real estate market that are hoping to hit it big. I think it is a good plan to wait it out a bit.

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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.

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I know a few people that live in the Viridian and they are all young professionals, but seem to be over extending themselves financially just to say they live downtown. I try to encourage friends and family to always buy at least 50k less than what they were approved for. As a rule-of-thumb, I always buy 30% less than what I

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haha.. i think i will just rent for the rest of my life. i don't have time to deal with all that nonsense.

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haha.. i think i will just rent for the rest of my life. i don't have time to deal with all that nonsense.

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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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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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