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Sold over asking price in Gordon Head


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#41 manuel

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Posted 09 March 2016 - 05:38 PM

Well, we bought a Fernwood house assessed at 530K in November for around 570. With the house 3 streets over selling for 350K over assessed and others in the neighbourhood going for 150-200 more than assessed I feel extremely lucky.

Now to convince my better half to sell out, pocket the difference and buy in Nelson or Courtenay...,
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#42 sebberry

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Posted 09 March 2016 - 05:47 PM

Most houses sell well above assessed, but $175,500 over asking must have been quite a bidding war... 

 

Meanwhile in my building, one condo assessed at $230,200 just sold for $233,000, or $4,000 under asking after 13 days on the market.  Another unit assessed for $243,200 and listed for $259,000 remains on the market for 43 days.


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#43 lanforod

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Posted 09 March 2016 - 08:22 PM

Most houses sell well above assessed, but $175,500 over asking must have been quite a bidding war... 

 

Meanwhile in my building, one condo assessed at $230,200 just sold for $233,000, or $4,000 under asking after 13 days on the market.  Another unit assessed for $243,200 and listed for $259,000 remains on the market for 43 days.

 

Does your building allow rentals and/or pets? I suspect at least one of those is no...



#44 sebberry

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Posted 09 March 2016 - 08:24 PM

Does your building allow rentals and/or pets? I suspect at least one of those is no...

 

5 of 27 suites are allowed to be rented, currently 4 are rented.

No pets

No kids

Just sit quietly with your hands folded in your lap.


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#45 lanforod

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Posted 09 March 2016 - 08:25 PM

Yep. Those kinds of restrictions make sales tough.



#46 sebberry

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Posted 09 March 2016 - 08:27 PM

And trying to get that message across here is like talking to a brick wall. 


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#47 LeoVictoria

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Posted 09 March 2016 - 08:46 PM

Condo market is also way less active overall than SFHs lately

#48 AllseeingEye

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Posted 09 March 2016 - 10:50 PM

And trying to get that message across here is like talking to a brick wall. 

Yup. Had this discussion many many times with my now ex-strata council re: my Fairfield condo which I finally managed to sell in February after being on the market for 6+ months and two realtors. No rentals, no pets and no kids under 16 were all sale-killers - especially the first two caveats. However Fairfield being Fairfield there was no way I would ever get the 2/3 vote needed on that strata to change things. Owners in that particular building were adamantly opposed to the notion of rentals, period. No way, no how.....

 

My unit was assessed at $283K in 2015 and given the restrictions I almost felt fortunate at getting out and selling at $275.....



#49 sebberry

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Posted 09 March 2016 - 10:56 PM

I'm on the strata and also sit on our recently formed bylaw review committee.  Some of the justifications for the status-quo are real head-scratchers. 

 

We're lucky to have 5 rentals.  It almost went down to 3 several years ago when it dropped from 9. 

 

The remaining unit currently on the market also reeks of cigarette smoke.  Can't have a cat in the event you don't empty the litter box, but you can smoke your brains out... 


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#50 Daveyboy

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Posted 10 March 2016 - 09:44 AM

5 of 27 suites are allowed to be rented, currently 4 are rented.

No pets

No kids

Just sit quietly with your hands folded in your lap.

How in the world are you able to post so many great items on VV? Do you have one of them thar fancy automated "voice to typing" programs?



#51 MarkoJ

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Posted 10 March 2016 - 10:38 AM

Condo market is also way less active overall than SFHs lately

 

Showings signs of craziness too.

 

#10 – 2828 Shelbourne, 1996 built townhome, sold for $554,000. Purchased in 2011 for $475,000.

#910 – 728 Yates, 1 year old studio with no parking, sold for $338,000. Pre-sale price would have been around $220ish including GST.


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#52 Mike K.

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Posted 11 March 2016 - 06:57 AM

Oh wow...

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#53 VicHockeyFan

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Posted 11 March 2016 - 08:00 AM

$338 for a studio is pretty nuts.


<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#54 Mike K.

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Posted 11 March 2016 - 08:22 AM

Fair to say someone get a little too excited?


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#55 VicHockeyFan

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Posted 12 March 2016 - 12:39 PM

Not sure I want this person as my realtor.

 

screenshot-victoria.craigslist.ca 2016-03-12 12-37-45.png

 

"Real estate math" is not too tough.

 

 

 


<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#56 lanforod

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Posted 12 March 2016 - 02:59 PM

doubtful that's a realtor. Perhaps someone who needs help crunching numbers on affordability or return on a rental or something like that.



 



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