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Me either. That junk R20 site next to the airport in Cloverdale being passed in at $610,000 astounded me. The kid trying to buy it got off lucky IMO. I heard from a third party that the vendor wanted another $30-$40K on top of the winning bid. The property backs onto the Gateway project...

They still seem to pulling that sort of money - for how much longer I don't know. A couple of agents we know in the area have lists as long as your arm with 'investors' still chasing this sort of stock. Don't know anymore - its getting all too hard as everything I see and hear contradicts...

Hearing the same thing about the Belmont area - having problems selling OTP the multis going up on everywhere. Because of the expected completion dates FHB are not interested. As stated on this (I think) and other threads there will be a glut of these and pressure is starting to show already...

This property is just down the road from me and has been advertised with another agent for probably the past 6 weeks on a room by room basis at $200pw each. Obviously that didn't work. The homes were completed at least 2 months ago and obvioulsy have beeny vacant since. I would guess that...

Also tenants are buying in lieu of renting. The vacancy rate of 1.9% is still very attractive for landlords.