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Old 05-08-2017, 08:36 PM
 
9,008 posts, read 13,965,476 times
Reputation: 7632

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I remember when Novare went on its building spree, these were considered totally hot properties. It seemed like as soon as the new one opened up, everybody forgot all about whichever one was 6 months old.

Now that they've pretty much all been around for a few years, some more than 10, I'm just wondering....how are these buildings holding up? Showing signs of age? Are the pools still nice?

I remember when they first went up, one of the things I said was, "Nobody is going to want this asinine 3/4 wall separating a bedroom from the living room!" Was I right? Have most people in these buildings hired contractors to finish those monstrosities, or are there still suckers out there willing to buy them?

But really what I'd like to know is if they are maintaining the buildings well or if they are starting to show signs of age. I still regard them as new, but I guess that's not really the case anymore. How are the Novare buildings holding up?
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Old 05-08-2017, 08:49 PM
 
10,974 posts, read 10,801,673 times
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Quote:
Originally Posted by ATLTJL View Post
I remember when Novare went on its building spree, these were considered totally hot properties. It seemed like as soon as the new one opened up, everybody forgot all about whichever one was 6 months old.

Now that they've pretty much all been around for a few years, some more than 10, I'm just wondering....how are these buildings holding up? Showing signs of age? Are the pools still nice?

I remember when they first went up, one of the things I said was, "Nobody is going to want this asinine 3/4 wall separating a bedroom from the living room!" Was I right? Have most people in these buildings hired contractors to finish those monstrosities, or are there still suckers out there willing to buy them?

But really what I'd like to know is if they are maintaining the buildings well or if they are starting to show signs of age. I still regard them as new, but I guess that's not really the case anymore. How are the Novare buildings holding up?
I bought into Viewpoint when it was new (and also had them finish out that 3/4 a wall to properly separate the master bedroom and living room ). I lived there for about 3 years. It was great. I don't personally know what it is like now, but I can tell you that values have done pretty well. I made about 18% in those three years which was during the housing collapse. The guy that bought it from me recently sold it after owning it for three years and he made about 27% on it. So at least the value seems to be holding up well.
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Old 05-08-2017, 08:57 PM
 
Location: NW Atlanta
6,495 posts, read 6,067,862 times
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Well, they've recovered nicely from the housing crash (as evidenced by me getting priced out of them right as I've finally been able to enter the market ).

Not a big fan of the partial walls, either.
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Old 05-08-2017, 09:06 PM
 
10,974 posts, read 10,801,673 times
Reputation: 3435
Quote:
Originally Posted by Gulch View Post
Well, they've recovered nicely from the housing crash (as evidenced by me getting priced out of them right as I've finally been able to enter the market ).

Not a big fan of the partial walls, either.
Yeah, I am surprised there are almost no mid-priced condo towers being built. Or even some of the apartment towers converting to condo. The housing collapse still has the condo financing side shaken up.

That lack of new supply is doing a lot to keep condo prices high.
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Old 05-08-2017, 09:08 PM
 
9,008 posts, read 13,965,476 times
Reputation: 7632
I feel really stupid for not getting one. At the bottom of the foreclosure crisis, you could get a one bedroom for like $89k. Of course, no bank would finance it, so you had to have the cash.

But the big fear was that these thing are never going to come back and you'll eventually be stuck with something that you can't unload for any price because no bank is ever going to be willing to finance a purchase in the building. Should've known they'd bounce back, but it really looked like they were flooding the market with inventory it didn't ask for or need.

Oh well, that's the magic of real estate! Trying to time the market is a fool's game.
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