Quote:
Originally Posted by bcrdukes
It's possible, yes. If it's been on the market for a financial quarter, chances are, they want to generate interest and sell to the highest bidder, conditions or not. If you do the math, that's a price drop of about 17%, which is unlikely and unrealistic. At $525K, it's possible that the asking/listed price was higher than the market benchmark.
Yes. I'm at the pivot point where I want to upsize because:
1. My area has more or less peaked in terms of appreciation (My building is 4 years old, and I'm the original owner of the unit)
2. I would say if you crunch the numbers, I've made a pretty penny on my unit, and the price point meets the requirements of most, if not, all first-time home buyers. They would be my target market and demographic when I put it on the market.
Now to find a place with a 2-car garage. #broke   |
Depends how you plan to upgrade, if you plan to rent it out and take out the equity on that first apartment, or if you plan to sell it entirely and get another place. Location is everything though. The apartments by kwantlen are cheap 350-450k older units but they rent for good money- something like 2 bedroom for 2g.
Unit 506 8988 sold for 480k back in Oct,
unit 1510 8988 sold for 445K Feb, so them asking 450k isnt too far off.
As for the bidding war issue, you'll have to do your research when it comes time to buy in order to learn what the market value is for different units. After awhile you'll gain a good understanding of what type of unit goes for what price, and anytime something looked too good to be true- it was always because they wanted a bidding war or they wanted to generate traffic. And if it was legit just being sold for less, they usually got scooped up fast. So you have to be ready to go in view it asap and throw down an offer.
Sign up at Zealty.ca if you haven't already, lots of good info that you can use to your advantage.