Vancouver Secrets

Vancouver Real Estate – Sell It And Get A 100K Bonus

From Bloomberg

First the good news:

Seller Offers $100,000 Deal bonus for selling realtor

Now the bad news:

Price dropped to $3.99 Million…

Hanley put his 6,000 square-foot home on the market almost a year ago for $4.3 million. The house boasts an unobstructed Pacific Ocean view, sun-filled patios and an infinity swimming pool.

“People aren’t making major acquisitions while their net worth is declining,” Hanley said.

Not sure if that’s the only reason.

“Canada’s housing market seems to be tracking the U.S. with a two-year lag,” said David Wolf, a Toronto-based economist with Merrill Lynch & Co.

In West Vancouver, 565 detached homes were on the market last month, 88 percent more than a year earlier, according to the Real Estate Board of Greater Vancouver. Only 19 sold. At that rate it would take 2 1/2 years to sell the current inventory.

The price of a typical, detached house in West Vancouver declined to $1.14 million from $1.46 million a year earlier.

That’s down 22% so far. I’m waiting for 35%.

Here’s an updated snapshot of what you get for your money here in Vancouver:

$500,000:

Good starter, renovate or build your home. CD1 Zoning. This 3 level 3 Bedroom, 2 Bath solid home is situated in desirable Renfrew Height Area, South facing with view potential.

$800,000:

Excellent 5 bdrm bung. on 33′ lot (3 main, 2 down). Mostly new windows, hardwood, spacious, shows well.

And finally, let’s go for broke – $1,000,000

Fantastic Custom Built Family Home in sought after Main Street neighbourhood! 4 large bedrooms up, 2 with en-suite!

No hurry, these should still be there this spring.