Vancouver Condo Real Estate Video Blog #163 - October 20, 2008
If you are looking for a Penthouse deal (or Sub Penthouse), don't look in Coal Harbour
Ian Watt video blogs about the waterfront condos in Coal Harbour and how the correction in the real estate market in Vancouver hasn't really affected their prices. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real estate Video Blogs.
Ian Watt: Hi good morning! It’s Ian Watt in Downtown Vancouver. I'm actually in Yaletown right now. I have a client she's looking for a place to buy from three to five million dollars in Cola Harbour. It's a got to be a great place, something unique with the great outdoors space. And the problem is, she's looking for a deal. Now unfortunately even the market turned in our global market is little awful right now there are that many deals in Coal Harbour. You know for the great suites over looking the water. Those suites their are actually holding their value nobody's flinching on the prices and unfortunately those A Class locations those people who have those properties are not flinching or having to sell or whatever reasons that going on in the market the global market. The economy their not affected by it or they are but they're not flinching at all on their price. Now I was talking to a realtor in Monticito in Sta. Barbara and she was saying the same thing. Those properties down there, no matter what's going on with the melt down in the United States. Those properties are holding their value. Now the interesting thing is when your trying to pick up a penthouse or sub penthouse and your looking for a deal you should be looking at maybe not a A Class locations but the B Class locations. Because a lot of those people who over extended themselves and they try to buy things that were just with their means because the market have changed. You know things are getting tight. There's a few people out there we look at their titles and we they have a sub penthouse here, a penthouse there. And the interesting thing is that if you pull their titles they have the few lanes on there so wait for those who come up and those are gonna be a fantastic deals. So if your looking for a deal. Don't look at the A A A Class buildings look for the B class buildings there's gonna be fantastic deals coming up. My name is Ian Watt. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!