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壮士断腕的很多阿
http://www.realestatetalks.com/viewtopic.php?f=8&t=36647/ h+ s# @$ {" [* P$ p
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Underwater Sales/Listings9 S2 P- v! O! h. Z! X0 v- l( S
I thought of starting a money loser thread of properties we know where people are going to lose money on a sale -- just so we can gauge some desperation here. We can then quantify the belief which some have that: "People won't sell if they are losing money. They will just hang on and ride it out". But these are challenging times. Of course that theory would more easily hold true for investors if the thing were cashflow positive to begin with (incl vacancies, etc). Unfortunately, bleeding $500-600/mo on a downtown 1 br with 25% down is not cool nowadays.
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This will kind of like that flippersintrouble.blogspot.com, but for Vancouver, and of course in thread form here.
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1) I know 1801 in the Ritz (1211 Melville) is one.
4 i* Q2 ^" J) NOriginal purchase was $469,900. + GST, PTT, commission, etc -- means a break even cost of $520k or so (+ Interest).7 z) W# k/ k# K
Asking price is $499k.: L) p. E% ~6 J0 y. l$ N
724sq ft with semi-decent view, air conditioned, etc. Owner is in Beverly Hills
+ f" h8 d' N2 ^9 _" C) o% M8 sLoss if sold at asking price = $20k+
6 p* c4 e, o$ j7 g' _7 bLast edited by gse36 on Thu Nov 20, 2008 11:25 am, edited 1 time in total.
" V! m& o+ }/ \# Q3 | n2) 2002 - 909 Mainland (Yaletown Park)
/ ~2 s; x& v2 y, CPurchased $397k.
- [8 o+ K3 s6 y, [+ ]Adjusted Cost (PTT, Commission, legals) = $420k6 }# p5 j3 {7 S% `- Z
Sold $338k M1 E7 L1 ^- H, @
Loss $82k/ Z8 z/ V# ?1 k( @/ v$ ~) e0 S
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#607 - 1408 Strathmore Mews (West One)
O& j; ?! F9 V. a) KJuly 2008 - purchased for $850,0000 o8 L6 B$ w2 j" ^) c; M I/ N
Nov 2008 - listed for $749,000
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Unrealized loss of $101,000 plus taxes, fees, commission, etc.2 _3 J) i# w3 A# f, a# [4 Q4 ?0 |2 C0 d
Ouch... somebody overpaid!
5 j6 K+ t( P+ C4 C! q _Last edited by kansai_92 on Thu Nov 20, 2008 1:04 pm, edited 1 time in total. + m1 M3 j6 b, M
kansai_92 wrote:#607 - 1408 Strathmore Mews (West One)' X3 ?# P+ k5 o, w3 B
July 2008 - purchased for $850,000: v0 Z X/ e; \
Nov 2008 - listed for $749,000
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8 i6 V2 m5 N3 |) n. ]Unrealized loss of $101,000 plus taxes, fees, commission, etc.
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Assesesed is 692k on that. With a lot of stuff going below assessed, that guy could be in a lot of pain
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#1107 - 638 Beach Cr (Icon)1 y) g9 ^7 u) u/ m' k
June 2008 - sold for $829,000
2 _7 J9 t, Q3 \' ~5 m2 w$ aOct 2008 - listed for $799,000
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6 d& Q0 ?% B- XUnrealized loss of $30,000 plus taxes, fees, legals, commission, etc.
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8 i( @* k4 u4 V' I6) I know 1801 in the Ritz (1211 Melville) is one.
( w9 u% H! k$ }% P6 Y/ H2 e; bOriginal purchase was $469,900. + GST, PTT, commission, etc -- means a break even cost of $520k or so (+ Interest).
8 R* W7 |4 f4 k, ], SAsking price is $499k.
0 I3 V' X/ S: k) i2 J724sq ft with semi-decent view, air conditioned, etc. Owner is in Beverly Hills
) E7 ~! ]$ s% i2 DLoss if sold at asking price = $20k+$ F7 `3 S. v0 N- n, T( c" `
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1801 in the Ritz (1211 Melville) , k A5 j8 U6 ?/ ~* Z8 P+ d
724sq ft with semi-decent view, air conditioned, etc.
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#307 - 36 Water Street (Terminus) Completing Dec/Jan
# Z9 B1 X0 k# ^- R% _4 RPurchased for $690k April 2006. x: q+ r$ { k p) I P7 x
Asking $699,900 for the assignment.
8 N( V' O3 t# p( qEven if they get their asking price, after commission and assignment fee they will be about $25k underwater.... from 2006 prices.
0 T7 e1 \0 N" C, H& Y eCrazy.
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573 St Giles Rd (Glenmore, West Vancouver).' Z) ]1 N. {2 q0 k( R2 |
Sold 1.35M
: K+ m; o( k! P; @* v `Purchased 1.55M September 1, 2007.! R+ }' @& t; ~# q: {
Loss 265k+ (ptt + commission alone on that house is 65k+)
) A `9 c4 R" \Last edited by gse36 on Sat Nov 22, 2008 1:16 am, edited 1 time in total. 8 S; }6 j# @& L, @, Y" d
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$ y2 S# W# e v( Y133-7451 Moffatt Rd
% ]) v5 U& G6 j( k$290k sold
: b4 u6 N# r( t. O' o0 G, J5 R$289.9k sold May 10, 2007.% F* P5 ?* g9 F
4 Y( y8 { n7 Q1 A3 B" JLost at least commission and ptt ($15k+?)
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102 - 633 Kinghorne Mews BB, 5 a# @) m9 |# B0 K; ?0 A" H
Sold 1300k July 20074 ?0 J* Z" N1 T4 G! r
Asking 1225k" X5 r1 F0 n2 N f+ B. }
Loss of 100k+ (incl ptt and commission) ^; R, m. S! g2 f
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339 - 1149 w 11th% V! s) S) e* J, i" k* N
sold 225k Aug 2008
6 {) X# w' R8 n' ^' k8 ~5 C$ XAsking 224.9k8 ?1 B# v( d3 q
Loss of 15k+ (incl ptt and commission)) w" r. Y! G& }% e
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# ^# f7 x3 d1 F1 D4 j! E6 e- \9611 Capella Drive, Richmond
. E; R0 @% n# N" t0 ASold 707500 Nov 2007
3 `" t5 Y: k& ?Asking 648000# r" t# [- B1 y* m
Loss of 85k+ (incl ptt and commission)$ T. d1 R4 c, W8 f* w
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3468 W 30th, Dunbar Vancouver
4 o1 S6 [1 f( p. E/ u( sSold 1.40M July 2007
. S6 B) T4 W& T+ f6 H# z% uAsking 1.295M
' d' \, ?# n/ t5 p9 |/ RLoss of 160k+ (incl ptt and commission); x& x% W( m9 P/ K
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6 g4 i8 A# B9 S3 Q6 ^+ D$ R9284 University Crest, SFU
! W6 C$ w6 a) n/ G. N, C) LSold 358k Sept 2007
/ Y* E# ~# I/ R T7 jAsking 349k
+ k! s" t; }' q- [5 x9 T/ PLoss of 25k+ (incl ptt and commission)% ?5 @7 Q: I' G E" i
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#110 750 W 12th Ave, Fairview. N; H5 z. }+ r; b# Y7 l- H- i
Sold 460k Feb 7, 20087 {! e/ i; G8 Q. C
Asking 419k- C, Y1 \: Q* _
Loss of 60k+ (incl ptt and commission)1 K9 m" b) m3 f4 [! V. Q* u
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967 Beatty St.
. o: h0 h8 v- K6 A0 fSold $565k Nov 2008
: h# |6 x* \# `/ x9 _Purchased $650k Nov 2006
, F; _* r& p% L7 [Loss of $85k (+ commission)! c, f- v2 V8 d4 K
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301-3333 W 4th in Kits
5 @5 o2 [6 D- `) J# BSold $308k in Feb 2008
' k1 u: G. W* c" @Sold $245k in Nov 2008
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0 l3 W2 f5 ~6 LLoss $65k+
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+ G0 Z* j' s+ g- y, hA lucky guy:
6 f7 W6 K, a1 H+ b" W* Z; c+ y6 t1438 Seymour Mews BB, False Creek North ( @7 E8 N! M0 o4 M0 l4 N _
$637k sold in March 30, 20077 s* y* Y9 _7 Y' o6 s$ Q# Q5 R: s" `
$630k sold in Dec 3, 2008.
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# M* S- d2 x9 ?/ s! W* p: O301 - 1438 Richards St1 G# I6 x, ?* g- \4 t: _0 |
Sold $415k Nov 20077 O0 @% W( U) e" Z7 i7 ?
Sold $408k Dec 2008
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Both very short term owners. Flippers possibly.
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And of course, we can't forget about Flagship flipper guy.
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/ q& R! \5 h5 {7 C! _( |http://vancouver.en.craigslist.ca/reo/936765992.html
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Pre-sale contract price: $798,000
# d4 a7 R6 U* ADeposit: $119,750, |' `3 z9 k; Z6 @. {9 v7 r
Asking price for assignment: $15,000
9 z0 v" ?4 ?8 |3 M. ZUnrealized loss: $104,750
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& O# |" W0 x; ^5 r! p4 @1 n% _Look on seller's face when still no buyers show up: priceless2 k1 a# B5 K; N1 A* }
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#1610 - 928 Beatty St.
, V9 R7 H# r9 {; t8 N* N; dPurchased $380k. (in October 2006)
L& n+ F8 j0 M0 z! WSold $363k
! N6 V8 u& U7 J( r7 r/ l$ LLoss $17k5 d. ?% i+ G; b% L" }* E# e$ J4 L
, o t0 Y$ k) WSold below October 2006 price. Interestingly, this unit sold in May 2006 for $365,000. So one could argue that some sellers are willing to let units go for May 2006 prices. WOW. . y9 R9 O2 g( d% z+ I
# t" M" S8 Z5 L, K0 |8 \Some posters on this forum speak of crystal balls... real estate in Vancouver is looking more like a time machine! How far back in time do you think we'll go?
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3 a* h. n- `: [: _) n7 q' o#607 - 1408 Strathmore Mews |8 N7 J7 _5 z% g
Purchased $850k. (in April 2008)
3 E, I; N- v0 n+ bSold $720k1 O( r4 Y9 ]2 f1 N
Loss $130k in 6 months!
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* c4 F# V5 d: F, YWOW... who was the poster that talks about Bears losing their money in the stock market. This guy did even better. If he had 10% down, he lost his entire down payment plus another $50K! Everybody loves leverage... when prices are going up. Now I see some uncomfortable swallowing from people that might not love leveraging the purchase of their assets/investments anymore.$ h6 {9 X" R% a4 |- T
" h% \5 N8 K8 G0 w1 p o% {# O很多没有扣除rental,否则还是赚的
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_0 w8 B: F) @/ U[ 本帖最后由 catty 于 2008-12-7 13:06 编辑 ] |
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