Monday, February 2, 2009

The trickle becomes the stream in advance of the sprintime flood

As noted on Condohype, two weeks ago we had the 'Onni Liquidation' and now the "real estate inventory toilet flush continues".

Bowra Group has announced they are dumping their H+H Yaletown development after 15 pre-sale “buyers” refused to complete on their deals.

Unlike the Onni sale, this liquidation will be conducted in true buyer’s-market fashion. Bowra Group is leaving it to new buyers to name their price… so long as offers are subject free.

And if buyer interest is weak, you could see sales could come in at even more than 50% off.

The trickle becomes the stream in advance of the springtime flood.

Here is the Global TV clip about the pre-sale buyers walking away from their commitment at H+H Yaletown. Take note of the 'not-so-veiled' threat to sue any 'pre-sale' buyers who back out on their commitments to purchase their condos now being advertized at 40% off.


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