Posted on: 17-08-07 18:06:26
Looks like there is condo glut in the market
http://www.theglobeandmail.com/servlet/story/RTGAM.20070810.re-yonge-0810/REStory/RealEstate/home
5785 YONGE ST., NO. 209
ASKING PRICE: $223,000
SELLING PRICE: $223,000
PREVIOUS SELLING PRICE: $240,000 (2005)
TAXES: $1,936 (2006)
DAYS ON THE MARKET: 26
LISTING AGENT: Bill Thom, Re/Max Realtron Realty Inc.
Quote:
Originally posted by jayaram
Looks like there is condo glut in the market
http://www.theglobeandmail.com/servlet/story/RTGAM.20070810.re-yonge-0810/REStory/RealEstate/home
5785 YONGE ST., NO. 209
ASKING PRICE: $223,000
SELLING PRICE: $223,000
PREVIOUS SELLING PRICE: $240,000 (2005)
TAXES: $1,936 (2006)
DAYS ON THE MARKET: 26
LISTING AGENT: Bill Thom, Re/Max Realtron Realty Inc.
Not necessarily - the home could have been poorly maintained and/or the orginal buyer paid well over the market value - one sale does not reflect an entire market
Hi,
RB has correct understanding of the situation. It beats me why someone paid 240,000 in 2005 when none of the sales of similar apartments of 2 Bedrooms and a den, in the same apartment building was between 218900 and 232,000 and maintenance fee was between $561 & $615. So much so, 3 apartments on the same floor were sold between 218,900 and 220,000. And, this apartment was not sold through MLS in 2005 and likely a private transaction.
For you to decipher the rest!
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Rajeev, if your assessment is right then someone converted some black money into white? Otherwise, why would someone buy property paying higher than market value.
Quote:
Originally posted by Rajeev Narula
Hi,
RB has correct understanding of the situation. It beats me why someone paid 240,000 in 2005 when none of the sales of similar apartments of 2 Bedrooms and a den, in the same apartment building was between and 232,000 and maintenance fee was between $561 & $615. So much so, 3 apartments on the same floor were sold between 218,900 and 220,000. And, this apartment was not sold through MLS in 2005 and likely a private transaction.
For you to decipher the rest!
