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Sechelt Development - The Wharf Place
09-16-2013, 08:20 AM, (This post was last modified: 09-16-2013, 08:03 PM by Skook.)
#6
RE: Sechelt Development - The Wharf Place
September 16, 2013 Update:

The smoke as barely settled on my September 9th update and look at the new banner on The Wharf Place website - looks like the fall push is on.

[Image: attachment.php?aid=421]

I wonder what incentives the developer will offer to get these next five sales. This bonus offer appears to be separate from the GST offer but I could be wrong.

Unfortunately, the developer is whistling in the wind. There aren’t the numbers currently living on the coast who will buy in and the only individuals moving to the coast are retirees but not in enough numbers to absorb the humongous inventory up and down the coast and especially in Sechelt.

They are no young, urban professionals moving to the coast who I could picture buying into such a development. They aren’t coming because they have nothing to come to - unless they start their own business, there are no decent paying employment opportunities. In fact, I would say there are no employment opportunities at all. One day, I might take a closer look at this issue.

I also discovered another Malaspina Property Management rental ad which was posted on its website back on August 6th. One of the three unit owners in the project is trying to rent out his/her suite. It is #207 bought back in February 2012 for $209,000.

So, what’s the story behind this, I wonder. Well, it doesn’t matter why the unit was bought or by whom, what is a given is that they can’t sell it not with 21 other units in the development sitting empty and the developer offering “incentives”. But, again, even if the unit owner was willing and able to take a huge loss by undercutting the developer’s pricing, there just aren’t any buyers around. It’s sad, but I don’t think the owner will find a renter either to help defray the monthly mortgage bill. If the owner has left the coast, I hope it was to go to a really well-paying job somewhere else because they are going to need it.

[Image: attachment.php?aid=422]

******************************

Well, well, well, that new website banner was so distracting I missed this significant piece of information…

   

(Note: previous content in this spot has been removed. Please see Post #9 below for explanation)


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Sechelt Development - The Wharf Place - by Skook - 05-12-2013, 03:51 PM
RE: Sechelt Development - The Wharf Place - by Skook - 09-16-2013, 08:20 AM

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