2556 TRINITY Street, Vancouver, BC, V5K 1E2
“The house above, at 2556 Trinity Street, frame covered with a coat of stucco, was built 60 years ago. It has two tiny bedrooms, one bath, contains just 940 square feet and is butt-ugly. It was listed in March 2011 and sold in two days to a realtor who paid $773,000. Now it’s back on the market, this time aimed at Asian buyers – at the ‘lucky’ price of $888,000. That’s an increase of 15% in 75 days, and multiple offers are expected. Says blog dog Doug: “It’s one thing for Joe Public to be speculating on real estate, but when realtors are effectively buying and selling to each other pocketing the commissions or cutting them out completely while inflating the price adds another level to the pyramid and one more ball in the air.”
Well, guess what? It’s still for sale. Now for $868,000 and on the market for 205 days. MMMMMM things seem to have slowed a bit in those parts.”
- Ronaldo at greaterfool.ca 9 Nov 2011 8:58pm
[featured here 17 Jun 2011]
Math on this, anybody?
At what price level does the flipper start losing?