Let’s just say we feel we got a decent deal, because prices were marked down from where they were initially, once they figured out the demand and correct price point. In addition, we have a great view! Plus, no one behind us and no one across the street.
I do know prices have continued to go down, even from when we bought. It’s just a sign of the times. We plan to be here for several years, so we aren’t worried if prices drop another 10% or even 20%.
We’re the type that are willing to wait, knowing that 10-20 years from now, these houses will all be in the high $900 or $1 million+ again for Eaglepointe homes once the buildout is complete.
Psychologically, people don’t like to wait for things to happen. They want it all right now. Do you realize that Bel Etage in RB used to be in the mid $800k, now you can’t touch them for less than $1 mill or more. It would be a lot higher if it wasn’t for the RE market crash.
IMO, it’s like making an investment in a company. There is risk in this, yet you take all things into consideration, and based on the future plan, think, I believe demand for this area will go up over time. In general, by increasing demand, prices should go up. Remember Apple, the company, at one time, no one wanted to touch that stock either, but, smart investors, seeing the future plan, took a chance, bought the stock, and today, well, you know the story!
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on one hand I applaud your ability to find a residence that encompassed all that you desired, independent of purchase price at that time. But, in the next breath you write of buying the house as an investment you HOPE to make money on.
Both don’t go hand-in-hand.
Not to point a stick or start a philosophical debate, but the more you describe reason(s) for buying the property, the more confused you seem to appear.
BTW, comparing your buying of in Santee now to East Village of 10 years ago, further solidifies your apparent confusion.
