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Sky-high condos selling at bargain-basement prices

Hopeful would-be homeowners camped overnight outside a new condo development in Richmond for a chance to buy one of 55 units being sold yesterday at 25 to 40 per cent off.

Hopeful would-be homeowners camped overnight outside a new condo development in Richmond for a chance to buy one of 55 units being sold yesterday at 25 to 40 per cent off.

Cameron McNeill, president of MAC Bulk, which is facilitating the Flo sale for Omni developers, said the units were being sold on a first-come, first-served basis starting at 5 p.m.

He said the demand for the properties has been “overwhelming” and that as many as 50 people had lined up by yesterday afternoon.

“(Omni) had all this real estate sitting there,” McNeill said, adding that this was a chance to sell the properties quickly and move on to new ventures.

Ryan DeLuca, a realtor with Sotheby’s International Realty Canada, likened the event to an inventory blowout sale.

“The market is already starting to upswing again,” he said. “This isn’t something you’re going to see very often.”

DeLuca said this is a great time to get into the market, and the Omni sales are worth looking at if you’re thinking of buying.

 
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