The developer for Escala has brought a new sherrif in the front office, Rennie Marketing System from Vancouver will manage the sales of project. Team Builder JLS will be the listing agent working along side them. So what is going to happen over the next few weeks?
1.) Current home buyers will be contacted and offered reduced prices.
2.) The developer is planning to scale back services at Club Cielo so that high homeowners' dues can be cut.
3.) The sales center will probably be reopened sometime in March once everything is sorted out.
I'm most curious to know how much of a price reduction they're going to make on the remaining homes. Read more here (Scroll down to middle of the page).
Related posts:
Escala Update Dec 2009
Escala Hard Hat Tour
Escala Update
Escala Update February 2007
Escala priority presale event
Escala: Cristalla's biggest competition?
I’m in contract at Escala, I got a call today & was offered a 40% price reduction on my upper floor 1 bedroom. I expect most of my fellow buyers will be offered something comparable- My question is what happens if none of us take the bait? They are worse off than Bellevue Towers- My understanding is with all the monumental changes to the product offering we’ll eventually be offered a refund of our earnest money. I think this is my best option. We have never been given what’s been promised, with a change of sales & marketing team (happened before BTW) I still don’t have much hope we’ll be heard.
I was called by the new sales team and my condo has dropped about 25 – 30% from the original contract price. My main concern is the Club Ceilo including the gym and all the common space is just going to sit there and the new HOA will have to figure out what to do with it.The new sales team is going to unload all these condos and you can only guess at the investment condos (renting their units out) and other bargain hunter riff-raff.
I have lived in many condos and getting HOA to agree to anything is VERY difficult. Example: 2200 Westlake HOA could not agree to have a 24 hr concierge. There was arguing, crying, and screaming, it was so bad I sold my condo. Its a mess there now!
I still might buy at Olive 8? At least there are many amenities (if I choose to use them) offered through the Hyatt hotel. At least I will know what I am buying.