richmond million dollar homes: West Richmond Million Dollar Homes - Market Update - 08/19/08 08:26 PM
West Richmond detached homes sale in June and July 2008 at 115 and 92 units respectively were down significantly from the average sales of 150 units for 2007.
Homes prices dropped 4% compared with the previous month. High inventory combined with dropping sales will exert pressure on home prices until the supply and demand for housing is in balance.
New Home Sale Activities
For builders who purchased older homes as building lots at peak prices of $750,000 or more, they need to build and sell the new homes at prives over $1,500,000 or more to stay in business.
According to Richmond … (0 comments)
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richmond million dollar homes: Million Dollar Homes Climb 50% in Greater Vancouver - 02/10/08 07:32 PM
Vancouver West and West Vancouver have the most number of homes assessed at more than $1 million.
Other cities are gaining at a faster clip. Richmond, B.C. now has 1,781 million-dollar homes, up 1,036 from the previous year.
Landcor Data Corp. prepared the analysis for Black Press using newly released property assessments. In total, 17,446 additional homes joined the million-dollar ranks in the Lower Mainland in 2008. Vancouver accounts for more than half of the 53,256 homes region-wide now with millionaire status. Landcor president Rudy Nielsen said the growing number of homes worth $1-million-plus is no surprise. “It’s going to keep … (0 comments)
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richmond million dollar homes: Richmond's Million dollar Homes > Richmond MacMansions - 12/30/07 09:05 PM
Richmond's Million Dollar Homes
The reason why large-size lots are popular is because new homes built on these lots are in demand and they are selling for $1.35 to $2.00 million dollars. There are profit to be made by new home builders who are building spec homes for sale. You can view the million dollar Richmond homes here.
The profit margin for purchase-and-build is normally at 20% to 25%. But, for builders who are building on properties they bought 1 to 3 years ago, they can make a lot more money building and selling these new homes. The property appreciation already … (0 comments)
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