 鲜花( 34)  鸡蛋( 5)
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壮士断腕的很多阿
http://www.realestatetalks.com/viewtopic.php?f=8&t=36647( h) w, ]% N1 g; C$ }
% r j. n' t& q, `* }Underwater Sales/Listings
/ e, I2 z% X& I2 `9 }I 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.
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This will kind of like that flippersintrouble.blogspot.com, but for Vancouver, and of course in thread form here.
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1) I know 1801 in the Ritz (1211 Melville) is one.5 s. O) x4 l" N) Q0 j
Original purchase was $469,900. + GST, PTT, commission, etc -- means a break even cost of $520k or so (+ Interest).
3 h5 m* D0 c% W$ y9 R& Q: wAsking price is $499k., r6 s; A8 t; } A
724sq ft with semi-decent view, air conditioned, etc. Owner is in Beverly Hills
2 x5 k/ v- }$ ?% O1 T, O. vLoss if sold at asking price = $20k+
( q' _" m' L+ I7 G) h$ y3 JLast edited by gse36 on Thu Nov 20, 2008 11:25 am, edited 1 time in total. 0 L* ]; s& | ^& ^3 W
2) 2002 - 909 Mainland (Yaletown Park)
3 P: U( N5 S% {9 R. ~) p5 y, ?* ePurchased $397k." a9 w* {, _: L+ }. _) n
Adjusted Cost (PTT, Commission, legals) = $420k" A6 a2 y4 x2 p! m9 `
Sold $338k, O+ l; s/ Y. j+ m6 V( V Y
Loss $82k
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) k2 j& {/ m+ u+ |5 T1 G#607 - 1408 Strathmore Mews (West One)
8 R# \! ?! V7 z0 Y1 L: oJuly 2008 - purchased for $850,000* P- F/ p' t% H2 r
Nov 2008 - listed for $749,000
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Unrealized loss of $101,000 plus taxes, fees, commission, etc.; L8 M4 R, J2 R
Ouch... somebody overpaid!
4 T R4 a5 l4 CLast edited by kansai_92 on Thu Nov 20, 2008 1:04 pm, edited 1 time in total. ! f! |; `9 R F. A( I
kansai_92 wrote:#607 - 1408 Strathmore Mews (West One)8 ?! ~% T: k6 W4 l( p
July 2008 - purchased for $850,000
8 T. {/ c& l; r, _) z# DNov 2008 - listed for $749,000' y* J( L. J* w! O, V
0 X* L7 z: C o+ A9 w" d; }: J) vUnrealized loss of $101,000 plus taxes, fees, commission, etc.$ d! e- O+ t9 i" _7 ^
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Assesesed is 692k on that. With a lot of stuff going below assessed, that guy could be in a lot of pain
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#1107 - 638 Beach Cr (Icon)5 i) z/ g1 e* j$ p- W. B
June 2008 - sold for $829,000
5 y! U# A$ N r$ N; V* K! z8 ~Oct 2008 - listed for $799,000 ^+ a1 | V) @& j3 y
8 A! ^& H- p* RUnrealized loss of $30,000 plus taxes, fees, legals, commission, etc.
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6) I know 1801 in the Ritz (1211 Melville) is one.% x8 j7 y( ], U: r. M- H+ S. k6 I
Original purchase was $469,900. + GST, PTT, commission, etc -- means a break even cost of $520k or so (+ Interest).
. w6 r. u, I: z8 I, y& [Asking price is $499k.2 e; X: v( m& q0 r0 ~
724sq ft with semi-decent view, air conditioned, etc. Owner is in Beverly Hills# [ d, I/ j! s! y/ g
Loss if sold at asking price = $20k++ @7 a* o m; r
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0 q& }# N ?5 P1801 in the Ritz (1211 Melville)
, B7 U3 J, [. f5 A6 h2 D$ x# o) w724sq ft with semi-decent view, air conditioned, etc. ' W- q' y' ~9 c( [- g# S$ M, _
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#307 - 36 Water Street (Terminus) Completing Dec/Jan! O# T `; j; n& N' p8 A
Purchased for $690k April 2006
9 X5 L8 H/ c3 {: x6 RAsking $699,900 for the assignment. ) r4 f$ C1 G5 N3 T- o
Even if they get their asking price, after commission and assignment fee they will be about $25k underwater.... from 2006 prices.
& S8 v- h5 C2 I+ o4 e+ f+ {Crazy.
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573 St Giles Rd (Glenmore, West Vancouver).
/ \+ p- R6 |) q- bSold 1.35M3 j' K1 G& ^0 p
Purchased 1.55M September 1, 2007.
( O6 C7 \ e/ R" t9 C; s0 FLoss 265k+ (ptt + commission alone on that house is 65k+)
4 ~; V, J$ E* zLast edited by gse36 on Sat Nov 22, 2008 1:16 am, edited 1 time in total. 3 r6 o. P+ H( X. ~5 s
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133-7451 Moffatt Rd
* H# R9 C, T" h& W) s$290k sold4 d" {& O6 z) L V5 [
$289.9k sold May 10, 2007.
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1 t+ W9 V0 B: h( ZLost at least commission and ptt ($15k+?)
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- U) n3 n6 A6 X( q+ G/ \6 p8 C8 q102 - 633 Kinghorne Mews BB,
6 l; r2 M: [$ S4 a1 ~ D) d. \Sold 1300k July 2007
( ]' g0 [8 J( PAsking 1225k
5 H$ Y: T" {# r+ f: ]: R+ I0 P$ CLoss of 100k+ (incl ptt and commission)# X, B- G V+ f! H! w
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sold 225k Aug 2008& P3 D( }) K0 w4 v
Asking 224.9k
' A$ u: K& i% LLoss of 15k+ (incl ptt and commission)
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0 L1 [; s$ p; \0 U A0 V( I9611 Capella Drive, Richmond
% l- k& w& H5 s! V* K: C5 ZSold 707500 Nov 20075 o" Z" i( J: a- i9 A
Asking 648000
0 Q, O' r7 l/ I- PLoss of 85k+ (incl ptt and commission)' n4 f8 D6 S6 s& w* E3 Z8 s+ E- p
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T# X! E0 b$ F; {- v$ R3468 W 30th, Dunbar Vancouver
# H- h( ?. f) g4 eSold 1.40M July 2007
& b6 \& _. J! j& Q- K+ v. V& XAsking 1.295M
. `$ W9 v) ^. |Loss of 160k+ (incl ptt and commission)
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9284 University Crest, SFU5 v" f- i% l7 S4 {$ i+ C9 c
Sold 358k Sept 20078 F2 ?+ O: L" [$ s; g! m" `5 I* T9 P* g
Asking 349k0 R( r- \/ E0 o }* u. |
Loss of 25k+ (incl ptt and commission)
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#110 750 W 12th Ave, Fairview$ C) q" ~$ ^ _/ T7 q- k/ I
Sold 460k Feb 7, 2008
. O) t l$ _- p) m0 VAsking 419k
* ~, w$ `) M8 \% `5 b) LLoss of 60k+ (incl ptt and commission)8 b3 O. j& w0 U% |
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967 Beatty St.: p$ y9 N( V; K0 N' Q
Sold $565k Nov 20085 Y2 G* j: e1 B3 l, x
Purchased $650k Nov 2006; w% N8 `! d7 F1 ]2 i. N. |- b& R
Loss of $85k (+ commission)/ C) A5 [# K) G d+ T
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301-3333 W 4th in Kits
/ m H+ t# Z" s$ C4 Q/ Q: MSold $308k in Feb 20084 F: l# N& l) @
Sold $245k in Nov 2008
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Loss $65k+% `3 `* L! Q% t5 H* b3 P
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A lucky guy:
5 X3 O& B" a$ [9 d1438 Seymour Mews BB, False Creek North 0 Y% n' k$ g! W, H+ ]
$637k sold in March 30, 2007; _9 I. _% S/ D" J* U) D- i' m! N
$630k sold in Dec 3, 2008.
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301 - 1438 Richards St
) v5 P; T f. q& l, A0 o4 o% PSold $415k Nov 2007
( J" Z# x! d7 x' `8 O {8 ] mSold $408k Dec 20083 {: q0 f1 W; W# r
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Both very short term owners. Flippers possibly." G, Q5 G- a6 O2 x
) ^4 G$ C/ S* ?9 W* f0 wAnd of course, we can't forget about Flagship flipper guy.% _# T5 L/ [/ m! m! K3 ]8 g4 G
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http://vancouver.en.craigslist.ca/reo/936765992.html( U$ y5 j0 b6 F P3 b
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" r; Q# k# }) Z9 v8 X1 Q* h) ZPre-sale contract price: $798,0009 v% ~0 o! c: T% [7 [0 v
Deposit: $119,750, a6 K' v4 Y7 z4 f9 u$ M
Asking price for assignment: $15,000
4 B2 p, M7 L6 C, y0 BUnrealized loss: $104,7504 _( V$ Y3 y$ L- y
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Look on seller's face when still no buyers show up: priceless+ A+ ^* z2 @" D7 O; U) `0 `) o
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#1610 - 928 Beatty St.' q9 a2 t- D4 b- X& |0 f
Purchased $380k. (in October 2006)
/ g& S# Y6 G6 v8 v# y0 [/ ASold $363k
) R: p% m n/ F N6 Q8 `5 H( R/ }Loss $17k' L1 R( p# e9 ?% r. P
! p, L) o( e& {/ i' y+ q2 y/ ZSold below October 2006 price. Interestingly, this unit sold in May 2006 for $365,000. So one could argue that some sellers are willing to let units go for May 2006 prices. WOW. ; ?# Q7 U5 u# `3 G$ G
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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? ( H( B( k+ w$ K [
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0 E8 R7 r, P! j#607 - 1408 Strathmore Mews
h6 V2 B8 f* i6 k. LPurchased $850k. (in April 2008)
. I0 o3 m# B4 G. a6 t- Z3 _, qSold $720k
% i* k- z* U8 GLoss $130k in 6 months!
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WOW... 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 $50K! Everybody loves leverage... when prices are going up. Now I see some uncomfortable swallowing from people that might not love leveraging the purchase of their assets/investments anymore.
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, w8 a$ I: {7 V" [! _. a4 O很多没有扣除rental,否则还是赚的% Q& s4 O+ N9 u ~- C
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[ 本帖最后由 catty 于 2008-12-7 13:06 编辑 ] |
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发表于 2008-12-7 11:18
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