How do you KNOW that the price of this condo will go up? They tell you! Right now they are ‘only’ asking $319,000, but:
Open House Saturday November 11, 12-2pm. If not sold by Dec. 31, 2006 price will increase to $329,000.
Hoo-hah! What a deal! Buy now and save $10,000 bucks! How many other gauranteed investment deals like that can you find?
Anonymous said… Elephant walk dog bark but elephant does not run behind dogs.Affordability and prices are diffrent things folks if its not me its some one else /////Cars gets depreciation but real estate not folks again current prices=current development cost I think 10k is nothing 319000 +8%,is25550=344500 and that 8%is minimum sorry to hurt your mind I have notice this site and user always lough and joke around on price up. The joke is that you posted this train wreck and we're suppose to decipher it. Do you have a ring or something? And the only thing that hurts my mind (whatever that means) is trying to read it to make it sound like English.
Seriously?You don't think old buildings wear down and need repairs and upkeep? Ever heard of the whole 'leaky condo crisis'? 11:27 PM That does not reduce price owners have to pay current development cost to fix leaky condo.
anon 11:41 AM said:"$10,000 is nothing! I just received 3 more pre-approved credit card applications in the mail that will extend me for an additional $18,000.With the extra $8,000, I still have time to wait till the price goes up even more."I have x,xxx,xxx in various funds and GICs. And I'm not buying, esp when "elephant walk dog bark". It's time to run.
anon 11:41 AM said:"$10,000 is nothing! I just received 3 more pre-approved credit card applications in the mail that will extend me for an additional $18,000.With the extra $8,000, I still have time to wait till the price goes up even more."I have x,xxx,xxx in various funds and GICs. And I'm not buying, esp when "elephant walk dog bark". It's time to run.
My guess is they are pricing their mortgage/taxes into the sales price, on the assumption that buyers are going to care about maintaining their bottom line.
$10,000 is nothing! I just received 3 more pre-approved credit card applications in the mail that will extend me for an additional $18,000.With the extra $8,000, I still have time to wait till the price goes up even more.
Hey anonymous: No problem, the only thing that hurt my mind was trying to figure out what "Elephant walk dog bark but elephant does not run behind dogs" means.Also very strange that you say "Cars gets depreciation but real estate not". Seriously?You don't think old buildings wear down and need repairs and upkeep? Ever heard of the whole 'leaky condo crisis'?
Elephant walk dog bark but elephant does not run behind dogs.Affordability and prices are diffrent things folks if its not me its some one else /////Cars gets depreciation but real estate not folks again current prices=current development cost I think 10k is nothing 319000 +8%,is25550=344500 and that 8%is minimum sorry to hurt your mind I have notice this site and user always lough and joke around on price up.
Elephant walk dog bark but elephant does not run behind dogs.Affordability and prices are diffrent things folks if its not me its some one else /////Cars gets depreciation but real estate not folks again current prices=current development cost I think 10k is nothing 319000 +8%,is25550=344500 and that 8%is minimum sorry to hurt your mind I have notice this site and user always lough and joke around on price up.
This reminds me a bit of the scammers at timeshare properties in cancun, but without the constant encouragement to drink.There they give you a free breakfast and as much booze as they can convince you to drink before taking you into a room to tell you all about this fantastic deal that they are offering for a timeshare membership, just hand over your credit card.No they don't have any written info on the deal that you can take away and look at, this deal is only good RIGHT NOW and the price will be higher tommorow so nevermind the details..Buy before we raise the price?What a bunch of bulls##t.
units facing Robson and 15 floors downwardskeep bedroom and livingroom curtains drawn no privacy. 3 highrises across the street
thanks for the numbers antz,Are you saying that unit is currently assessed by the city at $237k and they're asking $319k ?!?!How does that work?Anon: Sticky prices on the way down like Japan? Man, I hope not! That would be horrible for our economy. Didnt they have around 15 years of steadily dropping prices eating up equity?
The mania is dying people. We went from "buy now or be priced out forever" to just plain old "priced out". A friend of mine is working at a condo development where the "realtors" put sold signs on the windows to keep the hype going even though they had only sold one unit. I agree with that guy in the sun that prices are sticky on the way down (look at Japan), but with the amount of debt floating around this city the downside could be surprising.As usual, the revolution will not be televised.
some current city assessed values and recent sales history. hope it helps. #307 $347,000#308 $228,000#401 $237,000#402 $326,000#403 $231,000#405 $244,000#406 $273,000#407 $314,000#408 $218,000#501 $244,000#502 $329,000#503 $233,000#505 $256,000#506 $288,000#507 $318,000#508 $219,000#601 $246,000 Sale on Apr 2005 for $240,000#602 $332,000 Sale on May 2005 for $349,000#603 $236,000#605 $259,000#606 $290,000#607 $321,000#608 $222,000#701 $250,000#702 $337,000#703 $240,000#705 $274,000#706 $306,000#707 $357,000#708 $247,000#903 $241,000 Sale Sep 2005 for $276,000#1408 $258,000 Sale Aug 2005 for $268,000#1603 $264,000 Sale Aug 2005 for $285,000#1806 $340,000 Sale May 2005 for $330,000#1908 $268,000 Sale Jun 2005 for $288,000#2005 $307,000 Sale Jun 2005 for $290,000#2102 $386,000 Sale Jul 2005 for $385,000#2408 $290,000 Sale Jun 2005 for $295,000antz
This is absolutely brilliant! It's like telling the cute girl you're interested in that if she doesn't agree to date you this month you'll ask her friend out.Just like Colt 45, it works everytime.
They need to be more aggressive in price increases.I agree! I won't even consider buying that apartment until they pledge to raise the price by $5 per minute!I think buying a condo here should be more like dialing a 1-976 phone number.
I think they should pledge to raise the price by $10,000 every two monthsThat won't even begin to induce buyer panic. They need to be more aggressive in price increases.
"Only" 319K for a one bedroom, 600 sqf apartment? Ridiculous. And to have the nerve to raise another 10K? I have half a mind to go there and tell the owners to stuff it. Good luck getting rid of it.
I'm taking my ball and going home.
I don't think thats enough, I think they should pledge to raise the price by $10,000 every two months if it doesn't sell, and pledge to NEVER take a lower than asking price.How many thousands of new condos are set to be completed downtown over the next year again?
RE sellers could do this when the market was thriving. I don't think it will fly anymore. Our market is out of whack (ridiculous, even). Affordability is a huge issue now and many people are 'waking up and smelling the coffee', so to speak. Buyers are no longer in a panic mode and here's to huge reductions in the RE market prices!
I've going to try this technique when I sell my car. If I find no buyer I'll raise the price, kind of like reverse psychology!
they should offer free toaster with sale