“If they got in early, they got burnt” says the selling agent about the Olympic Village condo development.

The Globe and Mail features this deal where a unit was purchased new for $1,565-million + HST in 2010 and recently sold for somewhat less.

He says prices dropped in 2013, when the city took over sales. At that time, he sold a 1,200-square-foot unit, with a water view, in the same building for $860,000. “That’s more like a Burnaby price,” Mr. Yan says.

Last December, he advised a client to purchase this unit, and she jumped on it. She’d been looking for three months in Richmond and Yaletown as well.

“I said to her, ‘If you had talked to me a year earlier, I would have got you an even better deal [in the building],’” Mr. Yan says.

Read the full article here.