Mon Post #2: Remember that Telus Garden 'sell-out'?

Do we have another entry for the Liar, Liar contest?

Faithful readers will recall that back on April Fools Day (was it a hint?), the media trumpeted the news that the downtown Telus Garden development had sold out.

That was followed up with our favourite car-cam real estate agent, Ian Watt, telling everyone and all that the 'sell-out' was pure poppycock.

The issue of units in a condo offering going to real estate agents before they are made available to the general public is a topic we have discussed before, and the fact Watt insisted that Telus Garden had units for sale even after claiming a sell-out certainly adds fuel to this belief.

And when you see a Craigslist ad like this one, you certainly have to question the 'sell out' claims (click on image to enlarge):

FIVE Penthouse units available for sale?  FIVE???

Telus Gardens won't be completed until 2015 and a mere 7 months after the supposed sell-out five of the Penthouses appear for sale by one real estate agent.

Uh-huh.

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Email: village_whisperer@live.ca
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The Countdown to 20,000... what's your prediction? - Updated

When it comes to Real Estate on the Wet Coast right now, the story is all about the burgeoning inventory.

While total inventory has been higher before, never has it been this high this early in the year. More interestingly, there has not been one single day this year where the total number of sales has been higher than the total number of new listings.

However... until prices start to fall noticeably, it isn't a crash or even a severe 'correction'. 

But one thing is for certain - it IS damn interesting. There's a strong possibility we will crack the 18,000 mark tomorrow and all indications are that the Vancouver market is moving resolutely to the psychologically significant 20,000 mark.

So let's have some fun with it.

Each night we post the days total inventory increase/decrease as well as the total market inventory figures. On which night, exactly, will we crack the 20,000 mark?

Between now and Sunday chime in with your prediction in the comments section.

If you don't have a blogger ID and you normally post anonymously, add a pen name with your prediction so we can keep track of who is predicting what.

There's no prize, but let's see who can pick the day closest to the actual day inventory cracks the 20,000 mark.

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On another note, many of you will recall how we questioned the media trumpeted sell out that occurred at Marine Gateway, the first such condo pre-sale sell out in Vancouver in years.

Shortly after that MSM fantasy, lightening struck again with the 'sell out' of Telus Garden.

But did they actually sell out?

Not according to downtown realtor Ian Watt.

Such is the state of the market that the ever-bullish car-cam booster Watt is calling bullish*t on the media hype of the Telus Garden sell out.

Even more astonishing is the way he trashes pre-sales and closes by throwing water on anyone hoping to flip their pre-sale purchase at Telus Garden.

Meow!

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Email: village_whisperer@live.ca
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Please read disclaimer at bottom of blog.