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WhipMaster
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Re: Vancouver indvidual property sales details

Fri Feb 20, 2015 4:35 pm

191 West 17th Ave (Cambie Area)
Asking $1,689,000
Sold $1,785,000 in 2 days Jan 2015

Image

Beautifully kept legal triplex on an extra deep lot in prime Cambie. Every level has a two bedroom suite but it can also be converted back to a large single family home. Loads of upgrades to property from electrical to sump to appliances flooring. Great investment and superior location.

Legal Triplex - Top floor $1252/mth, Main floor $1600/mth, garden suite $1250/mth. Great, great house!

What's that~ $4,100 per month rent? :mrgreen:
Hoo~Cudda~Not~Nod~ed????? :-)
 
Geyser
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Re: Vancouver indvidual property sales details

Fri Feb 20, 2015 4:53 pm


sample scenario

1.3M home sits on 50x122 lot
-divide into two 25x122 lots
-new SFH erected on each new smaller lot
-each new home sells for 1.2M

value of the same 50x122 lot in the neighbhood now worth 1.8 to 2M
I see this happen over and over again in the areas that allow this kind of redevelopment.
It's not that the new homes on smaller lots will get more affordable - you're basically trusting
that the developer will pass the cost savings on to the consumer. Doubt that very much
In a hot market the developer will extract as much as one of the many desperate buyers can bare. In a falling market the few buyers will extract whatever one of the many desperate developers can bare. Believe it or not, prices go up and prices go down. :)

I can only tell you what I noticed during the last correction of 2008-09
Developers were discounting condos - big discounts. You probably remember the huge promotions by Bosa etc.
At the same time this was happening there were developers out there buying detached homes with land.
I know because I was out there competing against them with offers.
Yes I remember that. I also remember how SFH prices plunged in lockstep with condos at that time (between July 2008 and March 2009), it was ugly! Kinda strange don't you think? With the big oversupply of condos, their price-drop was understandable, but Imagine how much lower those SFH prices would have dropped if there hadn't been such a big developer buying frenzy to slow the crash. :shock:
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
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WhipMaster
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Re: Vancouver indvidual property sales details

Fri Feb 20, 2015 5:09 pm

I think sfh suffered, but nothing like condos. But I can't remember that far back. :lol:
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eyesthebye2
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Re: Vancouver indvidual property sales details

Fri Feb 20, 2015 11:33 pm

809 DURWARD ST
MLS® V1104267
33x112 lot
2049sqft detached built 1948
asking $998,00
sold for $1,100,000 on 16-Feb after 8 days on the market
SOLID CLEAN character home close to shopping, restaurants, schools, parks & transit. Features 3 good sized bedrooms on main floor, plus a 2 bedroom SUITE POTENTIAL in the fully finished self contained basement that features a spa bathroom. Enjoy the Mountain Views & Sunsets from your kitchen and entertainment sized sundeck, large private fenced backyard is great for kids & pets. Build a laneway house and increase the value of this desirable corner property. Sold firm Listed By: RE/MAX CITY REALTY
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WhipMaster
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Re: Vancouver indvidual property sales details

Sat Feb 21, 2015 8:21 am

Out of this world. :shock:
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Geyser
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Re: Vancouver indvidual property sales details

Sun Feb 22, 2015 3:39 pm

I think sfh suffered, but nothing like condos. But I can't remember that far back. :lol:
They followed a virtually identical downtrend as condos. Check it out:

http://www.chpc.biz/vancouver-housing.html

The big difference was that condos peaked in 2011 and SFHs peaked in 2012. Condos then dropped back to 2008 prices and have pretty much stayed there while house went on a tear back into bubble territory and are almost back to their 2012 peak. According to MLS, in numerous areas are even higher than 2012. Of course, theses days they keep altering the way they calculate the numbers so it's really hard to know the truth. :)
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
eyesthebye2
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Re: Vancouver indvidual property sales details

Mon Feb 23, 2015 9:40 am

6864 RALEIGH ST
MLS® V1103704
2164sqft detached built 1952
41x141 lot
asking $1,290,000
sold for $1,463,000 on 17-February after 13 days on the market
Prime Killarney area rare property on 41x141 large level LOT. (laneway house potential)! Investor's and builder's alert! Close to school, recreation centre and transportation. Large sundeck, brick exterior, double garage. This is a nice house, sit on a beauty street with 2 kitchen. Listed By: MAGSEN REALTY INC.
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WhipMaster
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Re: Vancouver indvidual property sales details

Mon Feb 23, 2015 9:58 am

sold for $1,463,000

....really? :shock:

Well all that means is the harder the market will fall, unless it goes up some more....hahahahaha. :lol:
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eyesthebye2
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Re: Vancouver indvidual property sales details

Mon Feb 23, 2015 12:27 pm

3 60TH AVE E
MLS® V1100636
2392sqft detached built 1964
32x110 lot
asking $899,000
sold for $1,051,888 on 23-Jan after 4 days on the market
This house is looking for a caring new owner. Very little has changed since it's original construction in 1964 so your opportunity is waiting. A fantastic building lot on the corner of 60th + Ontario, a new house could potentially have south-facing views, a laneway house, as well as an address on Ontario (all with city approval). With good bones intact, there is a tremendous opportunity to bring out it's 1960s style for a potential buyer that has vision + isn't afraid of significant work. A block from Sexsmith Primary School, two blocks to Langara Golf Course/Trails, a short walk to Langara college + in Churchill Secondary catchment the location is extremely desirable. OPEN HOUSE CANCELLED. Listed By: ROYAL LEPAGE WESTSIDE
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eyesthebye2
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Re: Vancouver indvidual property sales details

Mon Feb 23, 2015 2:58 pm

in Collingwood no less

4985 MOSS ST
MLS® V1102294
sqft not provided
66x89 RT11 lot
asking $999,900
sold for 1,157,100 on 8-February after 9 days on the market
Builders Alert! 66 x 89 RT11 two family dwelling zoning in the heart of Collingwood. Level lot with lane access. Land value only! House sold "As is where is" condition, please do not walk on property without appointment. Priced way below city assessment $1,050,000. The biggest lot on the block! First Showing Open House Saturday Feb 7, 2-4pm. All offers please email to simonkingrealestate@gmail.com by 5pm Sun Feb 8th. Listed By: RE/MAX METRO REALTY
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WhipMaster
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Re: Vancouver indvidual property sales details

Mon Feb 23, 2015 3:34 pm

Wow!.... that would be two 33 x 89 postage stamp lots......~ $575k per lot .... :shock:

The lots keep getting smaller and smaller, and the price keeps getting higher, and higher. :shock:
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eyesthebye2
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Re: Vancouver indvidual property sales details

Mon Feb 23, 2015 11:02 pm

all it took on this Collingwood property is a wider than usual lot for redevelopment

5068 HOY ST
MLS® V1103670
2589sqft detached built 1985
40x132 lot
asking $1,199,000
sold for $1,215,000 on 17-February aftger 11 days on the market
Every once in a while, you come across a home that has been meticulously pampered; it's HERE! Custom built for the present owners and now on the market for the first time. Front entrance with 11ft ceiling, beautiful engineered Oak hardwood floors throughout living, dining, and kitchen. The living room offers stylish Squamish rock wood burning fireplace with 2 speed heatilator and a picturesque Bay window. Amanzing Country kitchen with plenty of windows and skylights bringing in loads of natural light. Family gatherings around centre island with breakfast bar, or sip on that morning latte while looking at the wonderfully landscaped fully fenced yard. Fully finished basement could be easily suited. Double garage/lane access. Listed By: COLDWELL BANKER WESTBURN RLTY.
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WhipMaster
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Re: Vancouver indvidual property sales details

Wed Feb 25, 2015 10:34 am

If that house on Hoy is worth that, Eyes's place is worth $1.3 for sure.
All hail Eyes.
Eyes had the nutz to buy when it looked not so good.
Eyes suffered the slings and arrows of outrageous Basht'rd rhetoric, ....and won!
All hail Eyes! :D
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eyesthebye2
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Re: Vancouver indvidual property sales details

Wed Feb 25, 2015 11:43 am

yes, my property is worth 1.3M now
Huge jump in value the last 4-5 months
 
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DAB
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Re: Vancouver indvidual property sales details

Wed Feb 25, 2015 12:15 pm

yes, my property is worth 1.3M now
Huge jump in value the last 4-5 months
It's great if you are retiring and need to downsize so you can cash in. Otherwise, it wouldn't make a difference if you property is worth 1.3, 2 million or 500k. When you sell to buy another place in Vancouver, it's all relative.

The one main thing is that you are priced in the market and not priced out cause you bought.

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