Quote:
Originally Posted by Winsor_Pilates
We've sold 200+ condos in the last 3 days and should get close to 400 by weeks end. I've got over 6000 registrants for our projects in only 1 week of advertising, and phone lines that ring off the hook at all hours of the day and night.
I've been amazed by what I've seen in the last week, and it has shown me that people will still buy real estate if the price is right. People have money, they just won't waste it and need a good deal.
Does this mean we've seen bottom and things will move back up? probably not yet, but I do feel fairly confident in the long term value of real estate, especially here in Vancouver.
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Are these condos that are sold in an auction type format, ONNI, or MAC?
Most predictions I have been reading suggest that the drop in Vancouver will be larger than the drop in Calgary. I do agree, with you, if the price is right and people feel like they are getting a deal they will buy. Developers have the ability to lower their prices. Problem is that many people who purchased in the last couple years, and want to sell to make a quick buck won't be able to.
Either way, it will be very interesting to see what happens in the spring or summer.