Instant Equity!
This from Urbanashley.com...
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If you are still thinking of purchasing at the Escala, this week may be the best opportunity to commit...
Rumor has it (from a VERY creditable source- wink, wink) that next week prices are going to be increased anywhere from $15k-$30k per home depending on the size and floor.
Great way to earn instant equity! The building is still on schedule for a May 2009 completion date and you can find out more details and information on the Escala website.
********************
If you are still thinking of purchasing at the Escala, this week may be the best opportunity to commit...
Rumor has it (from a VERY creditable source- wink, wink) that next week prices are going to be increased anywhere from $15k-$30k per home depending on the size and floor.
Great way to earn instant equity! The building is still on schedule for a May 2009 completion date and you can find out more details and information on the Escala website.
Comments
Let's say you choose to purchase a place like this on spec...what is to stop you from walking on it upon completion of the project if things have gone south like so many predict?
If I was actually dumb enough to buy a condo today, I would at least demand some sort of price protection in the sales agreement. I think we are going to see quite a bit of 'instant negative equity' as builders slash prices to unload bloated inventory. Today's flacid market is when real estate attorneys are really worth their fees.
It's typically 5% "deposit", which you do lose if you do not close upon completion. It was a great investment if you had gone in those 01-02 pre-sale and completion around 2005 - early 2006. Essentially you had to only commit 5% "deposit" and by the time the condo units are completed, equity went up like 30% on the entire value of the condo. It was seriously free money give-away.