Abbotsford – “From old sales price to new asking price there is a 25% drop. Right here in the best place on earth.”

“A-Sharp” Accountant at vancouvercondo.info November 11th, 2010 at 8:46 am
“I just got a flyer in the mail for ‘Yale Crossing’ in Abbotsford. There are over 30 units left in a fairly small building. The flyer says that all units must be sold by the end of the year.
These units were initially priced at about $290k + GST in spring 2008. THey sat until later that year and some sold for $265+GST.
Now they are asking $210 including Net HST
From old sales price to new asking price there is a 25% drop. Right here in the best place on earth.
I’m certainly curious to see what “must sell this year” means… If it is true, then I will certainly put in an offer on Dec 29th for 100k or something.
Another anecdotal point of reference: These [Okanagan, Westside Road] places originally sold for $850 in 2006, went up to about 1 mill in 2008, and now are foreclosing and asking in the 400′s.”
.

4215 Westside Road # 9
Kelowna, BC, V1Z 3W8, MLS 100115093
Ask price $459,000
1042 sqft, on ‘under one acre’
Realtor blurb: “Foreclosure. Reduced with $20,000! [? -ed.] Blow out price for this rustic style 2 bed & den waterfront cottage. Cottages sold for $849,000 in 2006! It features 3 levels, granite counters, incredible lakeviews, little private beach, patio.”

5 responses to “Abbotsford – “From old sales price to new asking price there is a 25% drop. Right here in the best place on earth.”

  1. These folks are broke, and their note is being called?

  2. Abbotsford is the murder capital of Canada!

  3. Abby may be the murder capital but Kelowna’s prices are the ones being slaughtered en masse. Try harder, Abbotsford.

  4. Granite counters??! How could I go wrong?

  5. It took 9 murders in Abbotsford-Mission to get that title.
    The two places are lumped together for this stat.
    It’s a per capita number.

    Metro Vancouver had 61 murders.
    Yeah, I guess Abbotsford is the murder “capital”
    Sometimes you have to read beyond the headlines.
    Most times in fact.

    I’ll be right there with A Sharp throwing in that 100K offer on Dec. 31st.
    We’ll see if they really all have to be sold by the end of the year. 🙂

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