30% off new developments too?

Seems that re-sale real estate isn't the only property being discounted 30% or more right now.

Above is a flyer for the condo development 'Headwaters' in South Surrey. It's a multi stage development in the mushrooming condo zone that is currently transforming the South Surrey area, a suburb of Vancouver.

As you can see from through the windows of one of the units, the street is one big orgy of development.

Yesterday faithful reader CJM posted in the comments section that he had received an email announcing 30% off new units in the development. From the text of the announcement, it seems the developer is desperate for more pre-sales to move forward with construction:

SAVE UP TO $140K ON NEXT 5 HOMES SOLD 

Anxious to break ground this Spring on the final phase of Headwaters in desirable South Surrey, the developer has just decided to offer even more SIGNIFICANT savings on the next 5 homes SOLD.

Here's a Sampling of our Limited-Time Savings. Act Now!

HOME HOME TYPE 2012$ SALE$ YOU SAVE 

#111-  3 Bed $469,900 $329,900 $140,000

#216 - 3 Bed $459,900 $359,900 $100,000

#316 - 1 Bed $269,900 $219,900 $50,000

#311 - 2 Bed $345,600 $274,900 $70,700

#412 - 2 Bed $385,000 $319,900 $65,100

Amazing Design Finishings, Listed at Unbelievable Prices!

The developer says he's "anxious to break ground this Spring on the final phase?"

Sounds more like he's desperate to get this thing done and get out before the market gets really bad come spring.

How long before 30% off turns into 40% off?

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