Developers
Getting Greedy??!!
James McCloskeyHaving been involved in many VIP Realtor Condo events around the city I have
grown accustomed to standing in long lines hours at a time to secure the best possible
pricing and suites for our clients. I am happy to do this for our clients as we want to
ensure you have as large a return on your investment as possible.
In the past 6 months things have changed little and I
continue to stand in lines for hours on end except for one thing. Developers are now
becoming greedy and creating Frenzy activity around the launching of their new
developments. Recently I attended the launch of 83 Redpath (close to Minto Midtown, The Republic, 88 on Broadway and 43 Eglinton Ave East
to name a few). What started as a normal pre-launch event quickly turned into
disappointment for numerous agents and their clients. |
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Invitations were
sent out to the top realtors in the city and as the day went on it became clear to many
realtors who were quite a ways down the list that there was going to be NO UNITS AVAILABLE
FOR THEIR CLIENTS!!!! I feel the current market has
allowed these developers to not only inflate their pre-construction prices and also treat
realtors and many of their clients unfairly and often times with distain.
I feel that there is much better value in re-sale at this
time and feel we need the developers to hit a slump to bring their pricing back in line
with the market. |