M5Vgirl
New Member
No matter what city I've called home I have always lived in the downtown core as I recognize the value of location, convenience and having an awesome social life! Despite all the recession talk in the last year I haven't really noticed a price drop or more inventory in the downtown market. If anything, as of recent, the prices seem to have increased slightly and I've been told by numerous realtors that I should expect to pay $600/sqft. (When I bought a year ago I was paying $500/sqft and that $100 jump seems to be quite high given the state of the economy now.) I started this post hoping to generate discussion among BUYERS. I have my own opinions based on experience and observation and I've talked to enough realtors/sellers already so I'm interested in the other (buyers) side. Is the bidding war game going to start all over again? Buyers: are you really paying $600/sqft and not thinking twice about it. Ultimately, buyers really are the ones dictating the market value and generating multiple offer situations. Also isn't it fair to say that the bigger the unit the less it should cost per sqft? For example, I consider a big unit anything over 1000 sqft so is it really worth $600K? I know there are plenty other factors to consider like upgrades, what floor, parking, etc. but I'm speaking in general terms because upgrades are subjective. I've seen people put in $50K into their place and made it worst or they are in the penthouse but one side faces a brick wall!
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