 鲜花( 34)  鸡蛋( 5)
|
壮士断腕的很多阿
http://www.realestatetalks.com/viewtopic.php?f=8&t=366479 H* a" `' W2 i/ h! X% N2 x# m
+ t" J' l4 m- B5 M: `# r1 ~
Underwater Sales/Listings
; n, S" t) J5 d& q" F0 o" y. pI thought of starting a money loser thread of properties we know where people are going to lose money on a sale -- just so we can gauge some desperation here. We can then quantify the belief which some have that: "People won't sell if they are losing money. They will just hang on and ride it out". But these are challenging times. Of course that theory would more easily hold true for investors if the thing were cashflow positive to begin with (incl vacancies, etc). Unfortunately, bleeding $500-600/mo on a downtown 1 br with 25% down is not cool nowadays.
1 ?; [; @- B2 i/ \: q! [" D3 W4 y( B4 A) q" O
This will kind of like that flippersintrouble.blogspot.com, but for Vancouver, and of course in thread form here.$ U# H& j9 V" y: W: }
$ s t9 G' q; f2 }8 s% |& i: F* I
1) I know 1801 in the Ritz (1211 Melville) is one.
$ p) E: ]& W6 ?" |, {# KOriginal purchase was $469,900. + GST, PTT, commission, etc -- means a break even cost of $520k or so (+ Interest).
0 g. m4 D, y) w+ ?/ b/ g# [$ ~& vAsking price is $499k.
, ?$ j+ c+ a. G. S# z" c724sq ft with semi-decent view, air conditioned, etc. Owner is in Beverly Hills- X b! j; U' T& o& U' J6 Q0 i9 E" M
Loss if sold at asking price = $20k+
" _2 M2 j6 q, ]+ K0 ]! }; G4 vLast edited by gse36 on Thu Nov 20, 2008 11:25 am, edited 1 time in total.
" Z b: w" @6 q2 Y* b2) 2002 - 909 Mainland (Yaletown Park)0 ^" y5 e) K, o' X
Purchased $397k.$ B# H. Z6 Q; E+ B$ f& o
Adjusted Cost (PTT, Commission, legals) = $420k1 ]5 Y. W/ M0 g* V# Z
Sold $338k
}! p8 }; D& K5 f7 z9 }Loss $82k' u5 Y9 g Y2 v, f
7 m& y$ {* l3 W
3)
6 S5 J/ c% \- E" k1 c#607 - 1408 Strathmore Mews (West One)
: X, h a/ h$ h; p, XJuly 2008 - purchased for $850,000
/ H. U# O6 v* FNov 2008 - listed for $749,000, z1 Y# _* t. J8 z0 B, [" a
# q$ t1 w3 V5 e7 L' k6 e5 n4 ~/ {Unrealized loss of $101,000 plus taxes, fees, commission, etc.
. ?: w4 ]3 L& q( A, I9 ~7 W- rOuch... somebody overpaid!
$ A5 @, U/ `/ ^0 a* V4 y% cLast edited by kansai_92 on Thu Nov 20, 2008 1:04 pm, edited 1 time in total.
, P* ]6 r0 D. `, Ykansai_92 wrote:#607 - 1408 Strathmore Mews (West One)2 W+ L6 n9 o2 i+ R
July 2008 - purchased for $850,000
h9 i% I( g0 P3 o5 vNov 2008 - listed for $749,000) |/ W8 _* H( s; M
3 ?& n' a7 g. ]6 J5 E8 X
Unrealized loss of $101,000 plus taxes, fees, commission, etc.
2 w+ s7 P% L) _2 y5 g. z
) {, y& S# G# {6 b; U1 c
+ `& W# S+ b5 K- w& Q$ e' RAssesesed is 692k on that. With a lot of stuff going below assessed, that guy could be in a lot of pain ! g1 F( B9 U* P- w& t% ^0 a
2 W& ^9 _8 @% A5)& w- ~# Y5 T( x" q- Q# d
#1107 - 638 Beach Cr (Icon)
: ]7 k; p# L+ r' Q/ ?/ ?. yJune 2008 - sold for $829,0002 y0 N$ }2 ^* y7 y/ k
Oct 2008 - listed for $799,000
' @0 J8 C1 M5 J& q+ I9 i3 K( _! t& y" p* a/ F
Unrealized loss of $30,000 plus taxes, fees, legals, commission, etc.
. H1 V F! Y3 O3 F5 i. j1 O) |# P. l# q( _+ _# L5 V5 X
& w* H) f5 }3 W4 n' F. U6) I know 1801 in the Ritz (1211 Melville) is one.
w4 c7 J& W8 F0 \5 _- d5 HOriginal purchase was $469,900. + GST, PTT, commission, etc -- means a break even cost of $520k or so (+ Interest).0 m6 c: C* B/ O: J+ o @( h
Asking price is $499k.
d, r! m+ h# n# c1 `724sq ft with semi-decent view, air conditioned, etc. Owner is in Beverly Hills5 b3 o Y# e4 \9 g. q9 H+ R
Loss if sold at asking price = $20k+
4 [, n* y7 S. l) B# s" V. O# G& E! g; t5 ]$ i: p
) q- ?! w# H$ e6 c; b7)
/ Z6 I7 V' C: N5 C1801 in the Ritz (1211 Melville) " |5 ~- Z8 U7 `! k. _7 ] u
724sq ft with semi-decent view, air conditioned, etc.
6 _& u' M' U( W7 R
1 ^: E0 ~4 Y( R1 _( b5 [8)) t0 D7 E8 b) ?7 h. W- i
#307 - 36 Water Street (Terminus) Completing Dec/Jan; s$ Q/ m1 M# L. t0 A# Y% k
Purchased for $690k April 2006
) Y) S9 k F0 u- ~* OAsking $699,900 for the assignment. * C, H: d/ s7 j5 r
Even if they get their asking price, after commission and assignment fee they will be about $25k underwater.... from 2006 prices.
( b( n: \8 m, B) ?9 S! P, LCrazy.
; J. @ x* D, d f% z- B9 m9)
; ^( @8 r( T# `- k& L573 St Giles Rd (Glenmore, West Vancouver).6 H% [; _7 p3 R
Sold 1.35M% }- X# l. r* W8 D m
Purchased 1.55M September 1, 2007.
5 D1 P# V* h0 mLoss 265k+ (ptt + commission alone on that house is 65k+)
/ S+ D0 x$ A$ M' LLast edited by gse36 on Sat Nov 22, 2008 1:16 am, edited 1 time in total. . Y1 V; b4 A, |
10): q, M8 g% e: B0 v$ m0 e
133-7451 Moffatt Rd7 K1 R3 {& w. C3 n" \6 `+ g; D
$290k sold
$ j7 `7 M1 P, g1 \. _. p$289.9k sold May 10, 2007.0 r* I" w# e. q. Z2 m# ]
2 D3 J# w2 _% C' I. k' S: j6 o0 ?) ~
Lost at least commission and ptt ($15k+?)9 \# f* X! P7 w! W0 t$ `' d- k3 ~$ y( F. @
11)# M, Z/ V' f4 I
102 - 633 Kinghorne Mews BB,
x X0 P% g2 _( w) j7 L0 CSold 1300k July 2007
6 m( B0 b. R iAsking 1225k7 b8 V% Y. y, H5 t4 s
Loss of 100k+ (incl ptt and commission)/ O: j% ?" D( H: J0 M
12)6 n' @1 u4 s* t. o, Z! ^3 ~
339 - 1149 w 11th
2 l- E) i2 u. T9 u1 w5 X0 }sold 225k Aug 2008
# R2 ?/ n _0 o7 Y5 t( |+ uAsking 224.9k9 f5 e' Y5 y$ ^7 C+ t
Loss of 15k+ (incl ptt and commission)& k0 G: i3 ~, u! r& x& C
8 p5 B7 L$ e& C: G13)
8 h6 Z4 N3 h5 n9611 Capella Drive, Richmond
, ]' `' V- Z# ASold 707500 Nov 20071 r) x# K4 z( u& j
Asking 648000
: p: ^# G2 }3 ~ @# PLoss of 85k+ (incl ptt and commission)
) F3 z/ Z1 U! Y" f, g1 v$ l3 O14)6 m; I* \$ A, A: k* O. R
3468 W 30th, Dunbar Vancouver$ {3 @$ B( x: H. G+ z* _
Sold 1.40M July 2007+ e& J' _* }) v- [, C1 {! R
Asking 1.295M/ l2 a9 v% C0 z4 t' u
Loss of 160k+ (incl ptt and commission)* s; _& m6 z4 y# [
15)
1 |" k; ?: c2 v6 @9284 University Crest, SFU- D8 ?+ q9 Q y" {
Sold 358k Sept 2007% s1 q7 N$ \ E# Z; j9 z
Asking 349k z; m: T- v& x4 i# ^8 Q+ w5 ?
Loss of 25k+ (incl ptt and commission)
( N5 D0 p* I( p0 h8 o# ^16)* W5 ]) C. `- F* \: J6 n( `/ i6 r
#110 750 W 12th Ave, Fairview9 d3 Y8 v* t. |
Sold 460k Feb 7, 20082 i3 t5 H6 U) n: m& n0 \
Asking 419k/ L) E5 u" @4 f$ h p
Loss of 60k+ (incl ptt and commission)
* h4 \# A6 B0 C1 Y3 K4 P17). P+ O2 B0 @+ I9 W0 @4 C! i
967 Beatty St.
3 z; Y% S! w t0 W, Z- ^Sold $565k Nov 2008
( n: X) R# _6 ~" V- K! ^Purchased $650k Nov 2006
( ~0 V2 \& F& ?7 _4 PLoss of $85k (+ commission)
% f& G4 N; d8 }" m9 z6 J18)) J8 s- _! ]. c" a: r
301-3333 W 4th in Kits
; h' W7 o) ^! Y4 YSold $308k in Feb 2008
4 Z5 V5 _9 l, W0 iSold $245k in Nov 2008* W C9 M" ^1 S% [7 e( s6 W
5 R* @$ h$ |; \+ ?# a2 t7 g6 _; RLoss $65k+, U2 U' `* _) c) p
20)
# U5 Y0 ^; n+ |6 T4 FA lucky guy:
6 ^9 X' H2 c1 F1438 Seymour Mews BB, False Creek North * D- [) p4 `) L9 a' j7 C1 p5 Y
$637k sold in March 30, 20070 [. Y/ U0 M3 e3 y; n1 e
$630k sold in Dec 3, 2008.$ K& I; p, V2 N5 F! V
21)
4 J( U* \0 w: l5 h+ s( |301 - 1438 Richards St1 {, ?/ R" Y$ N% v& e
Sold $415k Nov 2007
c! Y4 ]- j" }2 VSold $408k Dec 2008 Y. u. P: v* i9 t
0 j/ ? B1 ?$ J1 a! u* E4 [8 D5 r
Both very short term owners. Flippers possibly.
- p! ?$ d* r, @) k; U1 H& ~! ^! p; Y
And of course, we can't forget about Flagship flipper guy.
5 _" N6 q! U' z* c1 m
( N% P, P) ~9 t# K' b8 whttp://vancouver.en.craigslist.ca/reo/936765992.html
9 Y! _" ?/ S) Q9 j21)1 L2 b! D e/ R0 C
Pre-sale contract price: $798,000' F% a" w D4 I; k5 t' u, L
Deposit: $119,750
: r D9 l' v3 f. Z; _Asking price for assignment: $15,000
, O3 Z ^& @6 \0 yUnrealized loss: $104,750# K6 @9 w3 i! M7 d9 P
) M' y! k% L: a$ _. Q: c
Look on seller's face when still no buyers show up: priceless
5 }- V. y4 D2 C1 {- q22)
( e4 I d$ V5 f* q R0 c( r#1610 - 928 Beatty St.
* r- K1 Z( ]" _: k1 N8 zPurchased $380k. (in October 2006)
V" N% i) N- x% P1 ?Sold $363k
7 ]: o0 p- _% v6 X2 ?& d* bLoss $17k
6 u& J p3 }6 y3 C. W) ?
/ S4 L- u+ T) qSold below October 2006 price. Interestingly, this unit sold in May 2006 for $365,000. So one could argue that some sellers are willing to let units go for May 2006 prices. WOW. 2 i' w. e) N! j; `& I9 a
0 J0 a5 x5 j5 k0 c ?% `4 ^
Some posters on this forum speak of crystal balls... real estate in Vancouver is looking more like a time machine! How far back in time do you think we'll go? * v1 U* o, ~$ [" M! d) e
) A5 |, z+ z3 ?5 L23)
, d6 z/ n, n9 m3 J1 ?# A& g _2 W3 m4 `4 J+ _: g9 `
#607 - 1408 Strathmore Mews- _' ~' |8 A4 D. G+ h/ H8 |
Purchased $850k. (in April 2008)
8 u9 u+ R' M" ^( qSold $720k
2 \/ c# w/ c" rLoss $130k in 6 months!
/ w5 i& r {% @6 P* @+ h
( O" F9 D0 Y+ uWOW... who was the poster that talks about Bears losing their money in the stock market. This guy did even better. If he had 10% down, he lost his entire down payment plus another $50K! Everybody loves leverage... when prices are going up. Now I see some uncomfortable swallowing from people that might not love leveraging the purchase of their assets/investments anymore.7 h( f1 u: q% }, C8 C9 B$ H
3 |: o8 k3 g1 I. K很多没有扣除rental,否则还是赚的
$ ^7 {+ Y8 V1 R1 q
& k9 v9 F1 F: w; m; w[ 本帖最后由 catty 于 2008-12-7 13:06 编辑 ] |
|