{"id":304669,"date":"2010-02-10T23:18:17","date_gmt":"2010-02-11T04:18:17","guid":{"rendered":"http:\/\/kempton.wordpress.com\/?p=9616"},"modified":"2010-02-10T23:18:17","modified_gmt":"2010-02-11T04:18:17","slug":"calgary-condo-market-hampered-by-unsold-inventory-%e2%80%93-deals-or-not-really-deals","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/304669","title":{"rendered":"Calgary condo market hampered by unsold inventory \u2013 Deals or not really deals?"},"content":{"rendered":"

<\/p>\n

Calgary Herald is reporting in “Calgary condo market hampered by unsold inventory<\/a><\/strong>“,<\/p>\n

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Calgary\u2019s condominium apartment market \u201cremains mired in a slump\u201d […]\u00a0unsold units are at about 2,000 and although that number is down from about 3,200 a year earlier, about half of the decline was due to cancelled projects.<\/p>\n

\u201cSome larger projects that are completed or nearing completion have large numbers of unsold units, and in some cases had few or no sales in 2009,\u201d said the report.<\/p>\n

\u201cBased on average monthly sales in 2009, the unsold inventory would take almost three years to absorb.\u201d<\/p>\n<\/blockquote>\n

Are these condos deals or not really deals?<\/strong><\/p>\n

With an over-supply of condos, it is easy to think that the prices will likely drop drastically and there may be deals to have, right? Well, it depends. Sure, many of the condo units have not been built and simply died with the unfunded\/under-funded projects. But the real problem for potential buyers looking for a deal is that some of these completed projects were “finished” in manners that made the current owner want to scream.<\/p>\n

There are horror stories of condo builders forcing buyers to take procession of these brand new condos with many parts of the condos unfinished<\/strong> as there are no laws mandating the builders to finish everything before they close the deal. Apparently if the condo is “liveable”, they can force closure. So cabinets and drawers with NO handles attached is a “liveable” condo. And the buyers are left to screw the handles on themselves.<\/p>\n

When some of these new batch of condos are finished in such a rush and unprofessional manner, buyers looking for deals will have to pay very close attention to ALL the details in the condo and sadly many of the important details are hidden behind walls or under the floor and cannot be easily inspected.<\/p>\n

Buyers looking for deal may think they pay a good price but end up with serious and unexpected problems later on. Sometimes many little signs of poor workmanship on things you can see can be used as an indication of potential problems you don’t see.<\/p>\n

When a deal is way too good to be true, pay close attention in all the details before you sign on the dotted line.\u00a0Buyers beware.<\/p>\n

Filed under: Alberta<\/a>, Business<\/a>, Calgary<\/a>, Canada<\/a>, ethics<\/a>, investment<\/a> \"\"<\/a> \"\"<\/a> \"\"<\/a> \"\"<\/a> \"\"<\/a> \"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Calgary Herald is reporting in “Calgary condo market hampered by unsold inventory“, Calgary\u2019s condominium apartment market \u201cremains mired in a slump\u201d […]\u00a0unsold units are at about 2,000 and although that number is down from about 3,200 a year earlier, about half of the decline was due to cancelled projects. \u201cSome larger projects that are completed […]<\/p>\n","protected":false},"author":841,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-304669","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/304669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/841"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=304669"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/304669\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=304669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=304669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=304669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}