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Condominium Community Forums
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Frenchy
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| 09/23/2007 9:14 PM |
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| ShortCondos you sound like a flipper who bought at the hight of the market. Maybe you should have stuck to active trading in the equity market. The RE market in SD has a long way to go down before it get back to "normal". |
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Guest Three
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| 09/23/2007 10:27 PM |
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I definitely agree that resale is much better in terms of value. With regard to price per square foot, the Legend is even more outrageous. Some of them go for $800/sqf and it is not even the penthouse or higher floor unit. From what I can see, only the pinnacle commands such high price. I still think it is too high for such unit. Anyhow, the Legend is no Pinnacle.
I like the Mark enough but not at that price. My (perceived) value for the Mark maybe $450/sqf. Perhaps I am just dreaming. Or I can move to Florida where previous highrise condo downtown Biscayne went for half the price at auction. There, last year 2/2 went from 600K but at the recent auction it went for 300K. |
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Brian
Posts:2649
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rentingman
Posts:452
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| 07/25/2008 9:57 AM |
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Shortcondos. The history of real estate is prices fall much slower than they rise. See 1988 - 1994 for a direct example. Why would you use a proxy of internet stocks when you have the actual performance of real estate. Interestingt hat people interesting in real estate, or at least thos in the, "It is always a good time to buy" camp never used the direct real estate examples.
I went to The Mark sales office a few years back. Their sales pitch was they are building the best buildign downtown. Interestingly their history says otherwise, look at the issues in Parkloft. Also I guess when selling your own property the three rules, "location, location, and location" do not apply. While Renaissance prices have fallen to $400/sq ft they still insist on asking $700.
Explain to me why I would pay that much for an East Village location, in a partially sold building, where the developer could choose to rent units or go bankrupt and no longer fund the HOA. |
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Brian
Posts:2649
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Dirtcheap
Posts:39
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| 08/31/2008 8:15 PM |
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| Does anyone know how many units are still available at the Mark, is it over 50%? |
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HighRiser
Posts:49
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| 09/01/2008 9:09 AM |
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We looked at the Mark back in January and really liked it. The public areas are good with a big pool. There is a freight elevator and back door that dogs have to use - I like that. The quality was good. There were already renters in the building.
We thought prices were high, but the salesperson offered us 10% off the price on top of the 6% closing incentive before we'd even walked out of the office. We still didn't buy there. |
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