I had to check my calendar to make sure it was 2012 and not 2007. A Vancouver Pre-sale development that won't be built for another 2 to 3 years sold out in 1 day and some people camped out overnight to snap one up. According to the news many of the buyers were investors? I have to shake my head at these kinds of speculators. Back in 2007 the condo market was uber hot and pre-sales were being snapped up by investors who were going to flip them for a quick profit. But it's quite a different market today in a number of ways. First we have plenty of comparable move in ready inventory units that are actually priced at or in many cases below what these pre-sale prices just sold at. Second we are in a buyers market right now for condos and NOT uber HOT like it was 5 or 6 years ago. I don't know what to make of this?  I guess I have to chalk it up to some amazing marketing. We have some of the best pre-sale real estate marketing people in the world here in Vancouver. Vancouver pioneered the art of the “pre-sale” and by selling out 415 units with a 1 day selling frenzy in a mature (flat) Vancouver condo market shows me we are still on top of our game. Too bad these so called investors weren't on top of their game as well. Don't see how they will ever be able to flip these units for more than what they just paid (with taxes they paid top dollar or peak price in my opinion) even the location is not great. Now if you bought one of these to live in and stay in for awhile you should be fine, not sure if you will still have sub 3% interest in 3 years when this complex is built. Like I always say it sure beats renting. However if you bought one in hopes of flipping it and making a quick buck times have changed and the market for pre-sales has too.