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Ian Watt Personal Real Estate Corporation - Sotheby's International Realty Canada

Blog by Ian Watt

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Vancouver Condo Real Estate Video Blog #717 - May 7,  2012




Ian Watt video blogs about how the Vancouver Sun had reported that the Telus Garden project had sold out http://www.vancouversun.com/business/Telus+Garden+condos+sell/6396241/story.html unfortunately that is certainly not true as one month later Telus Garden is still emailing Ian Watt with condos to flog and realtor incentives to boot. 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. Please note that opinions, real estate practices, prices and data always changes over time, so please keep in mind the date when this video was published as the information could have become irrelevant over the past days, months and years. Copyright iWatt Media © All Rights Reserved 2012.


Ian Watt: Hi good afternoon it’s Ian Watt in Downtown Vancouver. As you know I’m not a big fan of pre-sales especially on this market there’s no incentive to buy a pre-sale. They’re totally over-priced and you’re tying up to 20% of your money for two to three years waiting for that product to be delivered. Another reason I’m not a fan of pre-sales is because sometimes you find out what they release to the media is complete crap. See what happens is a month ago the Vancouver Sun reports that Telus Garden in Downtown Vancouver has sold out. However, what they didn’t tell is that all this people who purchased and lined up and purchased this units had one week to re-seen their purchases without any penalty. So what happens is of course not everyone goes ahead with their purchase and Telus Garden is still flagging all their properties what ever they have remaining. They are still properties remaining at Telus Garden one month later it has not sold out no matter what people tell you. I have emails from their marketing company saying they still have this units and this units and this units for sale. So if you think that market in the pre-sale market is ultra hot and you think you gonna buy it to flip it think again they still have units for sale. My name is Ian Watt and if you have any questions. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!