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Sechelt Development - SilverStone
10-07-2013, 09:29 AM, (This post was last modified: 10-08-2013, 03:46 PM by Skook.)
#4
RE: Sechelt Development - SilverStone
October 7, 2013 Update:

This is a quick update. The developer’s listed lots (9) remain unsold and are now at 235 - 237 DOM. As I mentioned in the update above, one Owner Listing was removed (Lot 18 - 6041) and the other Owner Listing (Lot 17 -6035) remains unsold and is now at 310 DOM.

What is new is that Lot 6 - 6014 Silverstone Lane which sold January 19, 2013 for $225,000 (at a loss to the seller) was put back on the market seven days ago (Oct 1st) with a list price of $239,000. So the developer has 9 lots that have never sold and Lot 6 is going for its second owner flip. This is a real positive sign.

I wonder what happened here. Was it bought by a builder who later said to himself, “What was I thinking? I must be nuts!” or was the buyer unable to arrange a HELOC to build his dream home by the sea?

Here is an updated spreadsheet for Silverstone:

[Image: attachment.php?aid=479]


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Messages In This Thread
Sechelt Development - SilverStone - by Skook - 04-24-2013, 01:13 PM
RE: Sechelt Development - SilverStone - by Skook - 04-26-2013, 09:29 AM
RE: Sechelt Development - SilverStone - by Skook - 09-10-2013, 11:06 AM
RE: Sechelt Development - SilverStone - by Skook - 10-07-2013, 09:29 AM

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