Has anyone shown a bid at the rushmore

If that is the price you are willing to pay, why not just bid it. You can't be the only one thinking this way. Even if they don't accept it, if everyone else is bidding with the same strategy in mind, it won't be long before they drop prices again. They might get a reprieve for awhile with foreign buyers -- until the dollar starts to get a bit stronger. And then you will be able to buy from the foreigners at a discount. Do you think they will drop prices if the Aldyn doesn't sell well?

Does negotiating against yourself ring a bell?

Whatever you do, get any representations they make to you in writing, preferably from their lawyers. The sales agents lied to many previous buyers about how many units were sold and how many investors bought in the building. You should get representation on the building financials, the health of the reserve fund, whether or not there is any default on the construction loan. If they go into default the bank could force selling and prices would collapse. Barnett has refused the AG and court orders to return deposits, so something fishy is going on. There was also a warrant on over 2 million in back taxes he owed. And he is being sued by another developer for shuffling money around. And if you are using a broker, they get a bigger commission at the rushmore, so don't believe anything they say.

Buyer beware.

What reserve fund? It's a new building. All that exists is the two months of common charges paid by buyers representing working capital?

Exactly, and the building has been operating for going on 2 years, with only about 50% closed. 50% closed doesn't mean 50% of the costs, and the operating plan certainly assumed all units would be sold within a year. There is a very good chance much of that money has been spent and common charges will skyrocket. I'm sure many of the deals cut by buyers including the developer paying their common charges for a few years. You trust this guy to actually make those payments when he doesn't pay his taxes and refuses AG rulings to return deposits???

You ever pass by the place? The Rushmore has not been running with full staff. The sponsor having half the building's unsold units is very mindful of running it on the cheap.

Also the cost of gas, oil & electric is way down these past three years.

Did you check your electric bill in July??? Record heat had bills WAY up this summer. No offense, but your arguments sound like the empty promises of a sales agent trying to sell an aparment there. All I am saying, is under these circumstances, this is something I would not trust blindly. Anytime you buy in the resale market, you check the financials of the condo or coop, no? Why wouldn't you do it here, especially after all of this.

Electric bills are usually seasonal highs during the summer. Rates still are on average quite a bit lower than when Rushmore's offering plan was put together.