Rear units

I was thinking about this when looking at both traditional houses and apartments. My theory is that people want out of inferior quality units as they get tired of them faster. However, a few years ago, it was possibly the other way around as better quality units increased in value more and sellers thought that it was now a good time to sell.

There are really only two units on the market right now. So if 2 out of 24 are on the market there's a 25% chance that they would both be rear units just by random probability.

Sorry, should have been clearer. I looked at the previous sales and big chunk is rear. I think new building next to it took away side windows which probably impacted rear more than the front.

300, good eye but I can confirm it's a coincidence. Are you interested in these units?

I am a deep value investor. I am watching 8R for further price reductions of more than 15-20% (essentially 2012 level) which may not come as the area has improved. In the meantime, some one who wants to live there may pay current price level or 5-10% down. My pricing will all depend on light at the back and how far the other building is. So I just watch for price cuts rather than spending anyone's time.

I can tell you that particular unit will not go down to 2012 level. The other building is quite far away and is an office building so it's quiet/private during the weekend. It's facing south on the 8th floor so I imagine nice summer light.

I realize that. That is why just watching rather than wasting the seller's broker time.

I have always prized exposure and good lighting in my apt. purchases. No renovation can make up for poor fenestration. Too depressing. Obviously, many people buy units like these but the prices always seem to lag the overall market - the first to decline when the market becomes soft and the last to benefit when the market is strong. When it comes time to sell the apt., it's good "bones" becomes a far more important factor than condition in finding a buyer.

I'm not sure why you would wait for asking prices to come down, the signaling the rest of the market and probably building in your competition. Why wouldn't you just make a low offer and maybe the seller hits your price?

I find it much easier to negotiate and less time consuming for the buyer to lower their expectation first and have the market tell them. Moreover, I am happy if they can sell at a high price. It helps my other real estate investments.