Sunday, October 29, 2006

vancouver unreal estate 2.0

This is the house next door to me. It was bought sight-unseen for $450,000 in April 2006 (the house was intact then). It went on the market again right away at $550,000. A few people looked at it and walked away.

In July it was reduced to $539,000, then to $499,000. Finally, the guy that bought it decided to tear it down, and build a new place. It has a great view (over the laneway, and the house behind it) of the city, and the North Shore mountains.

Now here is what you can get in the South-East of France for the same


TQN said...

i remembered this house. sold even before the first open house. I was amazed!

solipsist said...

Yes, it sold sight-unseen for asking price ($450k) the same day it was listed. You can see it's final moments in the video above.

The guy who bought it (with his sister) realizes now that their exuberence was a tad irrational (it's right next door, and I have spoken to him quite a bit).

They tried to flip it for five months before conceding to the turning (?) market.