Tuesday, October 31, 2006

old is new 2.1

This place is almost the most famous POS in East Vancouver. It has been alluded to on RET, and VHB.

I don't have the price history for this particular hovel (v5836651 $462k described as "neat and clean"), but the place just across the road was $325k last summer, and I'm sure that it was much more presentable (else I would not have even driven by). Maybe the price was so low because this place is what you would see out your front window?


raconteur49 said...

good idea to post those $$$$holes LOL
here's one from Bby

MLS®: V617050 A/P:$539k (2006 September) +$151800 more or +39.2% above Ass value [hse# 3786]
MLS®: V574074 A/P:$485k (2006 March) +$97800 more or +25.26% above Ass value [hse# not given]
Description: Big lot, live now build big house later. Centrally located.
On its left was a gas station and on its right a cemetery.

2006 Ass value: $387,200

dingus said...

Oh boy I love this listing. It isn't so much the price (ie lot value on an OK street in East Van) but the strained credulity it takes to read the listing. Near Richmond and UBC indeed. Neat and clean! Oh, that's a new mattress leaning against the house? Those recycling bags are a nice touch! And nothing says clean like having the paint all worn to sh*t! And a lovely rakish tilt to the roof. Classic. It's an icon of the bubble IMHO.

dingus said...

Keep 'em comin' by the way. Lots of material out there!

solipsist said...

Thanks for posting folks.

raconteur49 do you happen to have any price history on your suggestions? I'll look them up and post them none-the-less. Also, how do you get the assessed values (just so I can keep factual)?

Dingus - I think this is an old favourite in the circles that we move in. I agree that it's not the price so much (well, it is...) as it is the glowing description, and the fact that it has been haunting the MLS for probably a year, and the price keeps going up. I feel that the revenue is probably grossly over-stated too.

bc_cele said...

Words can't even describe this incredible POS. I've seen this a few times now and I think this one will be one of the posterchildren of the bubble.

Babybull40 said...

Well the hovel you mention here is a reminder that I lived in a place similar many many years ago. It was a complete disgrace. See as how the pricing is varied wherever you are. I live an hour west of Toronto and most houses in my area run anywhere from 74,000 to 150,000. In fact a house across the street use to be a four-plex.. illegal dwelling. This family bought it gutted it and got a nice chunk of change for it and they turned it into 2 loft-style townhouses. I think they gotabout 150k for each side. They did all the work themselves to save on costs of hiring labourer's and contractors.I'm not sure how much they invested in it, but they still managed to walk away with a few bucks.
Nice blog big man.. A

raconteur49 said...
This comment has been removed by the author.