383 replies to this topic

[Mike K.]

I wouldn't necessarily blacklist him for wanting to sell his property. If the market had continued to absorb the type of product he was building, he wouldn't have stopped marketing and we'd have seen the start of additional phases.

The financial situation with the project may be tight. Several employees were let go a while back, funding for the Symphony Splash was pulled, and the marketing of the second tower never materialized.

Re: Victoria-based/Calgary-based, you're right. Bayview being Calgary-based again is news around here.

[aastra]

Even I think thats a lil far fetched...

I'm still not understanding the bailout angle. You'd have to deliver a new bridge one way or another.

[spanky123]

I'm still not understanding the bailout angle. You'd have to deliver a new bridge one way or another.

It wasn't the bridge but the $15M in improvements to the Vic West approaches included in the bridge budget.

[VicHockeyFan]

It wasn't the bridge but the $15M in improvements to the Vic West approaches included in the bridge budget.

That's still wonky to me, if you say that people would not buy at Dockside or Bayview if they did not have a straighter road.

[spanky123]

That's still wonky to me, if you say that people would not buy at Dockside or Bayview if they did not have a straighter road.

Nothing to do with a straight road. Its about (IMO) improving access to the properties and providng a well lit, safe and attractive approach to the downtown.

Most people living in that area won't be driving downtown they will be walking.

[VicHockeyFan]

Most people living in that area won't be driving downtown they will be walking.

I hope you are kidding. You think people that live in the Songhess regularly walk into town? Ha! Dockside, just maybe. I bet there isn't a single household in Songhess that doesn't have a car, and if there is one, it would be because they have failed a drivers test and no longer have use for it, not because they have chosen a carbon-free lifestyle.

[gumgum]

Unless people have solid proof, they should steer clear of silly conspiracy theories. Especially ones that make no sense.

[spanky123]

I hope you are kidding. You think people that live in the Songhess regularly walk into town? Ha! Dockside, just maybe. I bet there isn't a single household in Songhess that doesn't have a car, and if there is one, it would be because they have failed a drivers test and no longer have use for it, not because they have chosen a carbon-free lifestyle.

I wouldn't be walking now either. That is the point.

Anyways, this thread started with me questioning the timing of both Dockside and Bayside failing after funding for the bridge was overturned.

Perhaps they are entirely unrelated and just a coincidence.

[Mike K.]

I wouldn't be walking now either. That is the point.

That's silly. Everyone knows the troll under the JSB retired in 2004.

Anyways, this nonsense about the JSB being unsafe and a magnet for violence has got to stop.

[Szeven]

I cant believe the number of unsold condo's in this building. I went for fun to view some last weekend, and while they are nice, they are still very very expensive, even given the price drops. The condo fees are $0.37 per sq ft, which really adds up, but above all, its the lack of future development that I think will continue to hurt it. I laughed (inside) at the sales lady talking to a couple in their 50's about the surrounding development. They were concerned about the other 2 buildings blocking their view etc. The lady told them about the great plans for the other buildings (how they wouldnt block their views), the retail/livework at the railway buildings saying "we own all 20 acres here it will be a beautiful setting, and the market that will open there.... but when? The poor guy will be in a home by the time the pseudo granville island opens at those buildings... so sad.

[gumgum]

Got a mailout for this project yesterday.
50% off selected units.

Let's look at some examples:

803: 1 bed, 786 sf, original price: $672,000, new price: $409,000

105: 2 bed, 1546 sf, original price: $908,250, new
price: $599,000

PH902: 2 bed, 1196 sf, orginal price: $1,140,545, new price: $549,000

Another 7 were listed in the mailout.

Pretty shocking price drop!

[manuel]

gumgum - did you check to see if any comparable units actually sold for what the ad is calling the 'from' price? If so, there are going to be some pretty upset owners. If not, Bayview is doing the old markdown trick... Answer is probably somewhere in the middle.

[gumgum]

No comparison prices, so you may be right.

[sebberry]

OPEN HOUSE May 22nd & 23rd Sat & Sun 10-12 noon. The combination of living in Canada's most Beautiful City and the BAYVIEW will leave you wondering why you didn't do it sooner. This Condo offers: 1bedroom 1 bath, Full Security interior living space + a huge furniture friendly Balcony. Amenities include: Concierge Service, State of the Art Business Center, Car wash, Pet wash, Lounge area with full outdoor award winning kitchen and barbeque area, 2 Bed Guest Suite with spectacular Vistas of the Inner Harbour, Pacific Ocean and Olympic Mountains. Downtown is a short walk away. NO GST "BIG VIEW"

From a bayview MLS listing...

Not only do they allow pets, they have a PET WASH!

Maybe I should move.

[manuel]

Got a mailout for this project yesterday.
50% off selected units.

Let's look at some examples:

803: 1 bed, 786 sf, original price: $672,000, new price: $409,000

105: 2 bed, 1546 sf, original price: $908,250, new
price: $599,000

PH902: 2 bed, 1196 sf, orginal price: $1,140,545, new price: $549,000

Another 7 were listed in the mailout.

Pretty shocking price drop!

29 units currently for sale on MLS.ca. Some are showing the 22nd/23rd open house, some are not.

#105 is showing on mls.ca at $499K
#109, a two bed, two bath city view, same size as #105 above is listing at 499K

penthouse is listing at a cool 4.2M.

Something tells me the developer/banks are getting real anxious to sell the
remaining inventory

[MarkoJ]

Hey guys,

You can save another 10k before you even begin negotiations when the units are listed on MLS. The units listed on MLS offer buyer's agents compensation at 3% + 1.5%. On a $500,000 unit this equals $9,000.

When I went to look at the Bayview units I brought this up and initially the sales person said no; however, they called me back 5 minutes later and offered to take off buyer's agents compensation minus $1,000 (a.k.a $8000 on a $500,000 place).

Conclusion.

$500,000 unit is actually $492,000 if you represent yourself. Negotiate from $492,000 not $500,000.

Same applies to all brand new units listed on MLS. If you don't feel comfortable, just hire a real estate agent for $500 to put in the offer for you (scout out the exact unit you want to buy first), and then have him or her give you the remainder of the commission back on closing. I.E. $9,000 - $500 = $8,500 back to you.

[AnonAnnie2]

From a bayview MLS listing...

Not only do they allow pets, they have a PET WASH!

Maybe I should move.

means they wash the animals...not you.

[VicHockeyFan]

Got a mailout for this project yesterday.
50% off selected units.

Let's look at some examples:

803: 1 bed, 786 sf, original price: $672,000, new price: $409,000

105: 2 bed, 1546 sf, original price: $908,250, new
price: $599,000

PH902: 2 bed, 1196 sf, orginal price: $1,140,545, new price: $549,000

Another 7 were listed in the mailout.

Pretty shocking price drop!

One unit advertised on that mailer will cost an EXTRA $139,000 when the HST comes in.

[Mike K.]

With our without the $26,000 rebate?

[VicHockeyFan]

With our without the $26,000 rebate?

It reads:

PH904
2 Bed
1368 sq. ft.
$2,484,000 original price
$1,199,000 new price
$877 per sq. ft.
SAVE $1,285,000
ADDL HST as of July 1st $139,350