Flipping Into The Teeth Of The Storm

4464 W 7th

4464 West 7th Ave, Vancouver West-side (Point Grey)
2,094 sqft SFH; built 1978; 33×112 lot

Listed 22 Jun 2011, Ask Price $1,698,000
Sold 28 Jun 2011, Sale price $1,826,000

Listed 16 Jan 2013, Ask Price $2,190,000

Remember the heady days of 2011, where SFHs sold over-ask?
This flipper appears to have disregarded market signs and is fishing for a big catch.
They have listed at 20% above 2011 sales price, whereas most SFH sales are currently at 5% to 10% or more below 2011-2012 peak prices.
This’ll be one to watch.
– vreaa

10 responses to “Flipping Into The Teeth Of The Storm

  1. Owner is HAM. Successfully purchased in bidding war and paid 130K over ask in 2011. This is one to watch as it is likely worth only about what was paid if not 100K lower in today’s market. In tomorrow’s market it is likely barely to reach $1.0 Million – – however . . . . we’ll see. When this goes someone should post.

    • Agreed. I am interested in seeing how this one sells whether it reinforces or bucks the current trend of falling prices.

    • I’d argue that this buyer (aka the “flippee”) is probably 2nd or 3rd tier HAM (if that) given the pie in the sky asking price, the lacklustre presentation of the home and the fact that they couldn’t even hang on for two years after purchasing it. A deep pocketed owner would have either gutted this place down to the studs or knocked this place down entirely and rebuilt a shiny, new upscale home with all the bells and whistles.

      Seller definitely hit this one out of the park.

    • Naked Official #9000

      Disloyal cadres – you are all jealous, disharmonious racists!

      [‘Naked Official #9000’ = court jester. -ed.]

  2. This has everything to do with jealousy and nothing to do with racism. Both the Mainland and HK varieties of HAM come from the same animal, don’t they?

    • Actually they are quite different, To imply one is the same as the other to any of the two groups, you are likely to elicit some very heated & colorful resorts and arguments.

      • The Poster Formerly Known As Anonymous

        Yep. If a bunch of white English people from England with deep pockets moved here in droves, you’d soon see a bunch of furious white Canadians fuming at the arrogant attitudes and obnoxious behaviour of the invaders. Then you’d learn how the real differences between people are cultural, not racial. HK and ML HAM are worlds apart.

      • Naked Official #9000

        Loyal cadres love colorful “resorts!”

        Especially red and gold resorts!

  3. Real Estate Tsunami

    Former Poster,
    Quite correct. However, HK is considered a superior brand.

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