Strataman at vancouvercondo.info 15 Mar 2010 9:09 pm -
“For 8 years I have managed 14 condo properties in Vancouver, all owned by investors who are somewhat more well off than me! All of the four investors suddenly listed their properties this last month. They all know each other (thus my management contract) yet not ONE listed during the 2008 downturn.”
Update 2 Apr 2010 8:29 am -”As a sideline for almost 8 years I have managed 14 properties for long term investors in Yaletown looking after the rental agreements. They are four independent investors, every one of them is now listed, never before have they listed even one. These people have lots of room to move with over 50% equity in all of them. They have said they will be out of the market by July 1st, and I know they can do it. Their competitors have little room to move, these people have already indicated they have missed the top but are not worried, they quadrupled their investment even if they drop 10 % from this months prices.” and more at 8:59 am “Okay I should admit there is a downside to my comment # 5. I am one of the tenants arggghhh! And as they pretty well covered my rent ( I pay net $400.00 for a 1 bedroom in a really upscale condo…) I am faced with the ridiculous possibility of having to pay $1500.00 a month!!!!! if some newbee investor buys this place. Arggghh stress city!”
