3540 40th Ave West, Dunbar
V835842, 2,889 sqft house built 1931; 66 x 101 lot
Listed 7 Jun 2010, $1.549M; Reduced 12 Jun 2010, $1.449M
Sold 6 Jul 2010, $1.34M (13.5% off original ask)
[Still overpriced. Houses like this one will sell for substantially less than $800K at the ultimate trough. -ed.]
Vancouver Real Estate Anecdote Archive 
Interesting read: http://landlordrescue.ca/wordpress/vacancy-spiral-destruction/
Over-priced piece of junk….
I dunno kabloona, looks like a pretty nice place to me. I think I drove by this place a few times when I worked around there for a few weeks. Looks like a very nice place to raise a family if you ask me.
That being said, still insanly priced. Dunbar is deffinently one of the nicer areas in Vancouver but it’s not worth the extra 500K for a house there. Even if prices drop 50% across the city I dont even know if its worth the extra 250K to live there.
Still, this place seems like a deal compared to other places a few blocks north that are asking 1.5M for a tear down on a smaller lot.
The Safeway is behind this house on 41st so the buyer can hear the delivery trucks idling all night.
Excellent post VREAA. Hopefully we can get more feedback like this to monitor the west side market and compare asking price, reductions and final sale price.
davers, I take your point….maybe I just hate stucco-clad, 80-year old houses. I’ll bet the basement smells mouldy….
Seriously, would you rather have that place or $1.34 million in the bank?
😉
an 80 year old house has 80 year old problems….
also, it appears to be a 3bdrm. The upstairs looks small, so there will be only 2 small bedrooms up there (or one “big” master suite with a tiny 2nd bdrm).
This makes for unconventional living arrangements for any family with more than 1 child as you must then put 1 child or yourselves on a different floor.
kabloona
I agree it is totally overpriced, I was taking issue with the “piece of junk” part of your statement. You could do a lot worse in this town.
Obviously I would take the 1.34M in the bank over this place, I would also take being debt free and house free rather than being over 1.2M in debt with this thing to show for it. 🙂
Touché!
This house is on a 66′ lot. It was probably bought by builders who will knock it down and put up two 33′ lot houses that will be listed for around 1,800,000 each.
The market can still turn around!
2010 will be a strong year for Canadian real estate: