3719 W 11th Ave, Point Grey; V853201
2,198 sqft house on 30 x 122 ft lot; Built 1996
Listed 29 Sep 2010; Ask price $1,498,000
Price change 29 Dec 2010; Ask price now $1,698,000
No sale in 3 months, price increased by 13.3%
Up is the new down, people.
What’s going on here?
Trying to attract buyers who demand to pay more? (Not a joke: There seems to be cachet to paying more for less on the westside. Bragging rights?).
Or some kind of weird financing fudging? (We’ve previously seen other properties relisted higher just prior to a sale: Is the financing source possibly more comfortable if the buyer buys at list rather than higher than list?)
The property would still be overvalued at a half of the original price.
Soulless boxes like this one will sell for 650K or less after the crash.
Standard lots will return to 500K and below.