Vancouver Pre-Sale Lineups are Back!
by Maggie Chandler on December 1, 2009
in Downtown
If memory serves me right, it’s been early 2007 since we’ve seen lineups for Vancouver condo pre-sales but that changed on Saturday as the investors lined up (in the rain) to take advantage of the low prices at The Mark, on Seymour and Pacific.
Onni’s new building will be 41 storeys and prices started at $325,000. Given that completion will be 2013, it’s a no brainer that investors can only win as this is one of the final sites available in Yaletown and we assume prices will be higher in 2013 than they are now.
Is this madness? Given the current economic conditions around the world, should Vancouver real estate be moving at such a pace? The problem is lack of supply and lots of International buyers – from what i have observed Mainland Chinese are all over West Side homes and luxury condos and the word is they’re here for a while. In my 28 year career I have never seen such a quick downturn or such a fast recovery. Some buyers are expecting a downturn after 2010 Olympics and some are expecting prices to continue to rise. We shall have to wait and see.
Or is it prudent to be buying now and holding for 10 years? In May the City of Vancouver passed a moratorium on the entire Downtown Peninsula – from Stanley Park to the Cambie Street bridge – which’ll only allow one third of that huge piece of real estate to be developed into new residential buildings and only if it’s mixed use. So, as our city grows and more people want to live Downtown, there will be little new supply, unless the City upzones the north east side of False Creek.
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WELCOME! And thanks for checking out my site, and wanting to know a little bit about me.
I LOVE what I do, and that’s helping home buyers and home sellers in the waterfront condo neighbourhoods of Vancouver and I’ve been doing just that for nearly 30 years, so I’ve really gotten to know this market like the back of my hand. In fact I’ve seen Vancouver’s neighbourhoods of Coal Harbour, Downtown, Kitsilano, False Creek North, the West End and now the Olympic Village being built and I have an in depth knowledge of these neighbourhoods. My interest in Vancouver’s history combines with my interest in the changes and growth of its waterfront neighbourhoods. If you see me walking on the seawall, playing tennis or boating, say hello!
The city of Vancouver and its neighbourhoods of Coal Harbour, Downtown, Kitsilano, False Creek North, the Olympic Village and the West End have been put on the world map with its dynamic growth, international immigration, hosting the 2010 Winter Olympics, amazing world class restaurants, geographical beauty and quality of life. Consistently voted the Best City in the World to live, you can find great shopping, sports and entertainment in Vancouver.
I assist first time and trade up home buyers, investors and vacation home buyers, as well as first time and trade up home sellers, investors and vacation home sellers with the purchase and sale of houses, townhouses and condominiums.
I come armed with stats and graphs and an extensive knowledge of market activity, with attention to detail that will give you piece of mind that I’m working in your best interest, I am a hard working, detail oriented, diligent individual with strong interpersonal skills, patience and a high level of integrity . My goal is to make the home buying and the home selling a fun trip with low stress and I use today’s technology to make every real estate transaction as smooth as possible by clearly answering your questions, providing expertise and offering a savvy opinion.
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