3656 W 38th Ave, Vancouver (Dunbar)
5,089 sqft SFH, built 2009, on 55×165 lot
Sold 8 May 2011; Sale price $5,180,000
Nice house. Remarkable sales price.
With 10% down, 4% five year fixed, 25 yr amortization, that’s roughly $24K per month mortgage payments.
Yeah, we know, the folks who bought this likely put more down.
Regardless, the market is still valuing it at being worth $24K per month, whether the capital is yours or borrowed.
Overvalued by a factor of …… [insert your estimate here].
Noted, for the record, for future reference.