Bidding in 2020

Thoughts on unit values and bidding during covid? I recently saw a unit come up in a HDFC building I had interest in last year, but the new ask is 50% + previous asks and recent recorded sale prices. Should I bother to bid at all? The seller and agent might get the ask as the market is so slim. I haven't gone to view the current listing as it seems that 600 k seems unreasonably high compared to... [more]

Thoughts on unit values and bidding during covid? I recently saw a unit come up in a HDFC building I had interest in last year, but the new ask is 50% + previous asks and recent recorded sale prices. Should I bother to bid at all? The seller and agent might get the ask as the market is so slim. I haven't gone to view the current listing as it seems that 600 k seems unreasonably high compared to the buildings past activity. The most recent activity in the building over the past year and half: $389k Mirror floor plan on a lower floor delisted (went unsold or is in an extremely long contract). 365k an estate sale with a mirror floor plan 450k A smaller apartment, but had a killer view that the buyer probably fell in love with. I'm honestly not even sure how much to bid. Overall I think I would like the unit I'm not sure if the seller is even really looking to sell given the price it's listed at. The comps within the building don't hold up, and when looking on street easy I've seen similar low end comps in a building around the corner. Similar sized units were high 300k.s to mid 400ks. I'm guessing the comps are for similar or larger units directly off the park. I'm unsure if I should show any interest as the price jump seems too high. [less]