Asking-price reductions do not a peak make, but they certainly appear to suddenly be more common. This from ‘romeo jordan’ at Rob Chipman’s blog 05.16.2008 4.33pm and 4.53pm -
“(I) just got off the phone with a realtor.. a false creek condo that was listed for $588K sold for $495K. Also note: the 50K price reduction on the coal harbour studio – sold for 299K originally listed at 359. (Also) note: 1189 howe – 1 bedroom listed at 339K – original list north of 379K. duplex in north van – reduced by 40K on 3rd street. and a 3 plex in burnaby reduced by 50K on moss street.”
“There is a flagship building in North Van., The Talisman 145 St. Georges.. my data shows.. someone bought a one bedroom couple months ago for $320K. now there are some offered at $285k. I’d bet you will be able to pick one up for 269K by the end of the summer. What will the guy or girl do who bought it for 320K?…. It is actually really sad. Some poor souls who do not have the skills to place a Fair Market Value on an asset will be in a lot of trouble.”
