[Surrey] Park Boulevard | 42 fl | 124m | Completed

[GMasterAres]

Originally Posted by Cypherus

Actual sales data is only obtainable through the provincial land title system and, even then, it only shows what price the property was registered for by the lawyer. Indeed list prices are a starting point; I think everyone knows that. There can be upward offers above asking but the actual percentage increase, no one would know. It's just pure speculation on that matter unless you can obtain the offer to purchase agreements.

It's a no brainer with unit 1703 either - they jumped up their price after seeing the selling frenzy around them. They never did sell - perhaps an indicator the prices won't really exceed a certain price ceiling for one bedroom condos as determined by market forces. Note, there are only two units left as per condosurrey.com which was what I screen captured in the previous post (it is not encompassing the MLS as you cite more units).

Yah don't get me wrong I think the prices are insane. Just curious is all.

[GMasterAres]

Originally Posted by osirisboy

This has been brought up before by others. This is not a real estate forum. However, There is a thread to discuss sales/ listing etc. And you guys can talk all you want about past sales

I'd argue we are very much on topic regarding this specific building and the perceived high prices. I think the pricing topic is nearing its conclusion though so rest assured you won't have to suffer through the 8 or so posts any longer!

Sorry for the massive inconvenience to your reading pleasure.

[osirisboy]

Originally Posted by jhausner

I'd argue we are very much on topic regarding this specific building and the perceived high prices. I think the pricing topic is nearing its conclusion though so rest assured you won't have to suffer through the 8 or so posts any longer!

Sorry for the massive inconvenience to your reading pleasure.

Great thanks!! I know many would appreciate it. I know it's complicated to discuss real estate related discussion in the real estate thread.

[GreyCat]

Originally Posted by sumitsek

I did register through their website. Perhaps the VIP invite is randomized or maybe they only invite if you select specific criteria during the signup. I only received an email talking about 2 & 3 beds remaining at 600k and up.

I guess I'm learning now how things go down so perhaps I need to go through an agent or how can one request an appointment?

Yes, you need to go through someone. I remember when register, there is a list of agents you can pick from(?). Anyway, someone contacted me in May. And you have to give them a back draft ($5000) before a due date. Then the invitation came with a 30 minutes slot. They only release several units for each 30 minutes time slot. and there are several buyers at the same time slot. So, again, you have to make a quick decision...very stressful process.
It might be easier to find a buyer's agent for yourself.

[EhJay]

Site is almost complete. Sorry for the huge size.

[Shift]

Nice pool in the back - I like the irregular shape.

This should be posted in the Park Avenue thread - not Boulevard

[EhJay]

Originally Posted by Shift

Nice pool in the back - I like the irregular shape.

This should be posted in the Park Avenue thread - not Boulevard

Woops, getting them all confused!

[Flynn86]

Has anyone heard any new news on this tower.

[Nites]

Whats the current hold up on this project? Looks like sales hasn't even opened.

[subsuper]

Sales was started in May and all the one bed room units were sold out. There are 2 and 3 bed room available.

[GMasterAres]

I believe sales are slow compared to a few other projects (like The Hub) because they are focused 100% on selling to investors not actual residents. That takes a lot more time because it is a smaller pool of people that can pony up 25% down payments right away and the prices for this, at least when I looked, were "Ultra" level meaning above market value.

I had inquired about a townhouse unit for example and they were looking at around $950,000 which is a good $250,000+ higher than almost everything else in the area even just 2 blocks away with more space.

[Blease]

Originally Posted by jhausner

I had inquired about a townhouse unit for example and they were looking at around $950,000 which is a good $250,000+ higher than almost everything else in the area even just 2 blocks away with more space.

$950K is simply outrageous. Do they actually expect to move anything at that price point?

[GMasterAres]

Originally Posted by Blease

$950K is simply outrageous. Do they actually expect to move anything at that price point?

I believe all the townhouses are sold now... so yah they do and have.

[clee7903]

Originally Posted by jhausner

I believe all the townhouses are sold now... so yah they do and have.

Yeah and if the nearby King George Hub (2 towers) is anything to go by, all the apartments here will be gone pretty soon too.

[Blease]

Originally Posted by clee7903

Yeah and if the nearby King George Hub (2 towers) is anything to go by, all the apartments here will be gone pretty soon too.

Anybody who's seen my posts on this site knows I'm a Surrey booster, but these prices really are insane. I remember not that long ago checking out an older townhouse in Yaletown for $750 K.

[Cypherus]

Originally Posted by jhausner

I believe sales are slow compared to a few other projects (like The Hub) because they are focused 100% on selling to investors not actual residents. That takes a lot more time because it is a smaller pool of people that can pony up 25% down payments right away and the prices for this, at least when I looked, were "Ultra" level meaning above market value.

I had inquired about a townhouse unit for example and they were looking at around $950,000 which is a good $250,000+ higher than almost everything else in the area even just 2 blocks away with more space.

Not necessarily true as I live close by and visited the condo for possible investment. They really pampered me to buy as a local resident who owns a condo in Ultra, but the prices at the time were not what I was looking for. They were not that bad, because eventually King George Hub surpassed them in pricing and they sold out two towers. Not sure what KGH did differently but they attracted a lot of people from Vancouver looking to downsize whereas Park Boulevard attempted to possibly focus on local residents with more limited means....hence the slower pace.

[GMasterAres]

Originally Posted by Cypherus

Not necessarily true as I live close by and visited the condo for possible investment. They really pampered me to buy as a local resident who owns a condo in Ultra, but the prices at the time were not what I was looking for. They were not that bad, because eventually King George Hub surpassed them in pricing and they sold out two towers. Not sure what KGH did differently but they attracted a lot of people from Vancouver looking to downsize whereas Park Boulevard attempted to possibly focus on local residents with more limited means....hence the slower pace.

Did they not require you to put down 25%? If so then that isn't focusing on residents with limited means... permitting any CMHC permitted down-payment would accomplish that, even 5% down. Let's face it, a developer can't come straight out and say "we're trying to sell to investors" especially in today's touchy market where foreign investors get a bad rap, but to say they were focused on "local residents with more limited means" is to me no different than Vancouver saying $3,000 per month rent for a 3 bedroom unit is "affordable."

It all comes down to perspective though I guess. You just said you purchased in Ultra, and Ultra for the area at the time was grossly overpriced too. So it may just be your definition of "more limited means" is different from mine which is fair enough.

[boatman12]

I expect excavation will begin soon. They've been removing tons of equipment from the site for a few weeks now. I wonder if those exiting sheds will have to come down first though.

[boatman12]

Originally Posted by boatman12

I expect excavation will begin soon. They've been removing tons of equipment from the site for a few weeks now. I wonder if those exiting sheds will have to come down first though.

existing

[EhJay]

Yeah, there's not much left but the sheds there. I would imagine early in the new year they'll be gone.