“The unit is up for sale once again, and yesterday they reduced it down to the same price they bought it for 5 years ago. They cannot afford to reduce it anymore.”

Anonymous at vancouvercondo.info February 18th, 2011 at 9:34 am – “I was talking to a friend last night and he mentioned they’re trying to sell their Coquitlam condo – they’re out of room and want to have another kid. They bought 5 years ago and have tried selling it two times last year with no luck. The unit is up for sale once again, and yesterday they reduced it down to the same price they bought it for 5 years ago. They cannot afford to reduce it anymore, so if they cannot sell they’ve come to the realization that they’re basically trapped – potentially for 5+ years depending on where the market goes.

jesse at vancouvercondo.info February 18th, 2011 at 11:16 am“A relative of mine bought a DT unit on presale and sold it mid-2010 for the same price they paid after fees, with no depreciation (sold within 4 months of completion). The presale contract was signed in about 2007. Some specific Coquitlam stuff, being more on the periphery, may now be 2006 break-even. Not sure if it’s representative of the entire market but I’m not surprised some people are finding it challenging selling at a capital gain.”

2 responses to ““The unit is up for sale once again, and yesterday they reduced it down to the same price they bought it for 5 years ago. They cannot afford to reduce it anymore.”

  1. errr…. did they not advertise in a Chinese newspaper? or Craigslist asking some to post as buyers. You see I learn fast.

  2. The noose tightens.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s