World On Yonge Condos (Liberty Development) - Real Estate -

[Solaris]

I just confirmed... Phase 1 sold out

I managed to drop into the sales office this afternoon ... as other members have reported, indeed Phase 1 (bldg A1, north/left tower of the 31s pair) is 'substantially' sold out save and except for a few penthouse units ... the sales person tells me that more unit may become available in a couple days, I guess it is fair to expect some people to rescind/cancel their deals within the 10 days cooling off period ~


*rendering sourced from khristopher in post # 82

Unfortunately I was not able to snap any photos ... but there is a decent sized scaled model inside the presentation centre to check out if that is of interest~

 

[lordmandeep]

anyone know how many people cancel the deal within that 10-day peroid.


I remember being a new house buying frenzy 4 years ago, of the 150+ houses that were sold about 6 people came back within 10 days.

 

[MBS-Guru]

i have a feeling this project is more than 60% investor bought ...... i don't think it's a good place to live if everyone are renters and it becomes quite transient. Not all, but some renters tend to trash the place and circumvent condo rules.

 

[mrl14]

It's not even open to the general public. Agents snapped up all the floors. There should be regulations against this type of scam. And yes it's a scam that artificially inflates housing prices.

 

[Solaris]

anyone know how many people cancel the deal within that 10-day peroid.

I don't think we'll ever find out that information ... the builder would never release stats on the % of recisions

 

[Klieg]

It's not even open to the general public. Agents snapped up all the floors. There should be regulations against this type of scam. And yes it's a scam that artificially inflates housing prices.

Kind of makes you wonder what the point of registering is...

 

[lordmandeep]

I don't think we'll ever find out that information ... the builder would never release stats on the % of recisions

of course not on this project, but any one have any info of what is the average.


Considering that house buying frenzy consisted of people mostly buying homes to actually live in them, so you still had 5% of buyers come back during the cooling period.

It's not even open to the general public. Agents snapped up all the floors. There should be regulations against this type of scam. And yes it's a scam that artificially inflates housing prices.

real estate is not a charitable business, and trust me if those agents can't sell those units, they get hurt real BAD!!!

 

[iSlutsky]

anyone know how many people cancel the deal within that 10-day peroid.

Heck, does anyone know if these bunch of buildings that "sold out" actually "sold out". Or, it is the hype machine?

I would be surprised if they did not hold back quite a few blocks of units until construction starts, and until the building tops off.

I dont think we will ever know, other than knowing there are lots of red-dots on the boards!

M.

 

[lordmandeep]

usually when they mean a building has sold out rather quickly is either....


A) The actual sold all their units, good job...

B) They have sold all their units apart from the top units (Penthouses)

C) They are releasing the units in a building in phases and they really mean Phase 1 is sold out, which really has the same marketing effect.

D) They are lying...

Nevertheless, I would imagine if the building sold like 40-50% in the first few days, by starting a rumour, it likely helps them sell the other half easily. It makes people think that the condo project is special.

Like in a retail store, when things are scare or are really popular, people spend money without thinking twice.

 

[Solaris]

Kind of makes you wonder what the point of registering is...

My thoughts precisely ... if a builder does not bother to contact members of the public whom have registered with their project, wy do they bother to tell people to 'REGISTER NOW' in their promotion materials ... such a waste of our time ~

I was pretty upset when I found out (I'm against the priority given to realtors over public) ... although I never had any intentions to buy here .... LOL

 

[Mike in TO]

Heck, does anyone know if these bunch of buildings that "sold out" actually "sold out". Or, it is the hype machine?

The material you read in the Condo Guide or Condo Life is part of the hype machine. However there are sources that accurately track sales (and deals canceled in the 10-day cooling off period). If you are willing to pay for the information it is available from two competing firms in the GTA - Realnet and Urbanation. Both publications contain a wealth of information with respect to sales volumes, $psf, unit sizes and even the land deals and values paid for land etc.

The information is out there - there really isn't this mystery shroud of secrecy in the development business that some are suggesting. Within the industry most people know each others business quite well.

 

[Marko]

real estate is not a charitable business, and trust me if those agents can't sell those units, they get hurt real BAD!!!

I don't see anyone talking about charity here - they're talking about legitimate buyers willing to pay the exact same money without a speculator driving the prices up.

It's a lot like ticket scalping. Imagine a band announcing a 2 day stop in Toronto and suggesting to their fans that they sign up for advance newsletters, etc and invite them to the stand in line for first access to tickets. Imagine how those same fans would feel to find out that the band was hosting scalpers all weekend and the majority of seats were already sold to people who had no intention of even attending the concert, but were now marketing those same tickets to the fans who thought they would get them at the original asking price?

If you're an agent, you make money help other people buy and sell property. If you're buying up condos and re-selling them yourself, you're no longer an really an "agent" but a real estate investor/speculator. I'm not saying that being an investor is in any way wrong, but it should be considered a conflict of sorts for an agent to be doing this as a primary focus of their work.

 

[harkian]

phase 2 world on yonge

Phase 1 is almost sold out the have abour 5 percent of the units left. what's important that their phase 2 is coming very very soon.

 

[Solaris]

I highly doubt phase 2 will be released anytime soon as tower 2 has not secured ANY conditional allocation from York Region + Town of Markham

further, Liberty Developments has entered into a "No Pre-Sale Agreement" with the Region that puts the developer under obligation that phase 2 MAY NOT begin sales until conditional allocation is granted for tower 2

 

[investican]

According to RealNet

Monthly Sales: 20
Remaining Inventory: 58
Index Price: $390,112

**This is outdated info from November.30th.2009**

There is no current #'s from them.

Can anybody get any news from UrbanNation?