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I must admit that I thought buyers would be avoiding pre-sales for quite a while. Assignments are still unsellable. However, the Mark by Omni , on the corner of Pacific and Seymour sold 76% this weekend with line ups for 2 days (and nights) ! Omni was the first developer to understand that prices had to come down and jump started the market earlier this year by getting rid of all their unsold inventory all over the Lower Mainland.at 40% discounts .Now they are pricing at a level that clearly attracts a lot of activity. Major point - the market is price/value sensitive, but ready to jump in.
In West Van the first sign of recovery to peak prices is in Dundarave, followed by mega newer homes (over 9000 sq ft) on large lots. Older homes on over 20,000 sq ft level lots are also selling fast, as are older homes with panoramic views. It’s time to buy quality at prices that are still below peak prices in early 08 .
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