Quote:
Originally Posted by hummingbird
James/Maynards/ and Resales
Realtor mentioned that the prices for condos are falling as there's too much supply and not enough demand.....people are holding off on buying new as well due to the HST so it will be interesting to see if anyone that purchased last year and wishes to sell in 2012 will make a profit or loss. I think most of the condos will sell below what original owners paid according to a few of the realtors.
Older stock has been sitting idle or seller have been reducing prices to attract buyers.
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That area has a lot of options and supply so pricing is quite competitive. I'm suggesting most of my investor buyers to look at SE False Creek over DT, Kits, Fairview of other areas in and around there.
There is much more supply than buyers and some of the pricing is quite good. I particularly think the new Opsal pricing is very attractive.
Having said that, I know the James team very well and they are still selling a decent pace which they seem to be happy with, so it's not a dead market either.