Monday, October 30, 2006
old is new 2.0
Here's another honey in East Van. It was listed for $369k summer 2005, and is (still?) on the block today for a cool $445k (v6151021). It looks like the same photo' used in the listing last year (my near photographic memory at work), so I wonder if the vendor just keeps putting the price up as the market goes.
A lot of what I will be posting in this vein was never seriously considered at the the time. We just drove by a lot of them. We already felt that the market was nuts, and that a crash was imminent.
Update - anonymous has posted that this one sold on Oct. 22nd for $435k after 19 days on the market. I don't know if it ever sold between last summer and then. Are the speculators just flipping these things back and forth? Anyone care to do the math of PTT, commissions, etc. based on a couple of flips?