“We accepted our friend’s offer, but the deal fell through… some financial trouble with their bank. We re-listed few months ago and dropped the price, but no offers…”

line_up_at_ski_lift_whistler_mountain_whistler_700-05389295

Overheard the following exchange this am in the ski lift lineup at Whistler:
“Still have this place in Whistler?… Yes, we listed a year ago… it was on the high side… we accepted friend’s offer, but the deal fell through… some financial trouble with their bank… We re-listed few months ago and dropped the price, but no offers…”

Skier on VREAA 27 Dec 2012 4:07pm

15 responses to ““We accepted our friend’s offer, but the deal fell through… some financial trouble with their bank. We re-listed few months ago and dropped the price, but no offers…”

  1. Topic is on “Whistler”, but the picture above is a crappy Cypress. A disgrace to Whistler!

    “Go to Whistler, Ride like hell” !!!!

  2. Pretty sure that it Peak Express on Whistler not Cypress.. the dead give away is… the snow.

    • And the hut/board. I don’t think they have those at Cypress. But I could go skiing next week or so and let you know. =)

  3. Real Estate Tsunami

    Whistler RE is a basket case.
    In a downturn, recreational RE goes first.

  4. I’ve heard similar things about Whistler. My Dad owns a place up there and he told me the value is down 30% since he bought (3ish years ago). Strangely he still doesn’t think Vancouver RE prices will go down.

  5. Heard from my realtor today. Great quote on the “Islands” – those things called Saltspring / etc . . .

    “Only the boomers seem to have ever wanted to buy there. The boomers have so much there that they can not sell that I predict these Islands will be returned eventually to their natural state. The properties will eventually be abandoned and nature will again overtake the land”.

    Wow – – – – that’s deep and profound. However – not too far from the realms of possibilities.

    • UBCghettodweller

      Odds are you can convince members of other generations to buy there… at a quarter to a tenth of the current prices.

    • What if I inherited a typical Islands property?

      Would I move there? No. There are no jobs and I’d miss all the urban amenities.

      Would I keep it as a vacation cabin? No, it would be a huge pain to bother with. I’d rather stay in a bed-and-breakfast or rental cabin. Then I can indulge myself my whole vacation, rather than mess around with septic tanks and building decks.

      Would I sell it? As soon as possible. I think just about any GenXer or GenYer would do the same.

  6. What if I wanted to retire to an Islands property in 10-15 years time?
    I would be among a rare few, and will wait until the boomers are and their recreational properties are bleeding!
    I wouldn’t want one of the stark glossy mansions. The nice warm cottage and gardens places will be punished as well, though. Maybe not as much in percentage, but still slashed. An awful lot of nice homes there are owned by a rather aging population.
    See this prime example that’s been on the market for a year. http://tinyurl.com/aqwjsc4
    One price drop of $10K. Gonna take more than that, you indebted greedy relatives of that older couple who used to live there!

  7. Well, it’s not a discarded rental property. It IS a nice home that was loved, taken care of and would suit me fine. It’s just not worth 340K! I’d pay 100K without a thought, and consider 150. Not time yet for a stink bid that low, but it’s coming. A great many places like that will need to change hands in the next ten years.

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