Monday, October 30, 2006

old is new 2.0



Here's another honey in East Van. It was listed for $369k summer 2005, and is (still?) on the block today for a cool $445k (v6151021). It looks like the same photo' used in the listing last year (my near photographic memory at work), so I wonder if the vendor just keeps putting the price up as the market goes.

A lot of what I will be posting in this vein was never seriously considered at the the time. We just drove by a lot of them. We already felt that the market was nuts, and that a crash was imminent.

unreal.

Update - anonymous has posted that this one sold on Oct. 22nd for $435k after 19 days on the market. I don't know if it ever sold between last summer and then. Are the speculators just flipping these things back and forth? Anyone care to do the math of PTT, commissions, etc. based on a couple of flips?

6 comments:

bc_cele said...

When you think about it, the owner is only trying to earn his/her 20% per year they deserve. ;-)

ThePope said...

Nice work Solipsist! Its fascinating to see specific examples of the way the Vancouver Market is totally divorced from reality.

House not selling? Raise the price!

I'll get a link to this site posted on VancouverCondo.info soon, keep up the great work!

solipsist said...

bc_cele said...
When you think about it, the owner is only trying to earn his/her 20% per year they deserve. ;-)


Good point bc_cele.

I'm wondering "why be content with 20 per cent?" (that's kinda catchy). I know that I am more deserving than most...I would expect 30%. "I'm entitled to my entitlements" as Mr. Dingwall would say.

Thanks for posting.

solipsist said...

Thanks for posting thepope.

It is reminiscent of Tweedledum and Tweedledee -

’I know what you’re thinking about,’ said Tweedledum: ’but it isn’t so, nohow.’

’Contrariwise,’ continued Tweedledee, ’if it was so, it might be; and if it were so, it would be; but as it isn’t, it ain’t. That’s logic.’


From Through the Looking Glass by Lewis Carroll

Anonymous said...

I see this place sold on Oct 22 for 435K. This particular listing was on for 19 days.

solipsist said...

Thanks for the update anonymous.

I'll need to get out my SOLD! watermark for the pic.

Maybe I ought to grace the posting with confetti, balloons and such to go with the good news?