3175 39TH AVE W, Vancouver Westside (Kerrisdale)
3,650 sqft SFH; built 2005; 50×130 lot
Listed 8 Feb 2012 Ask Price $2,799,000
Sold 14 Mar 2012 $2,528,000
Listed 23 Sep 2012 Ask Price $3,080,000
Price Change 13 Nov 2012 As Price $2,980,000
Price Change 25 Feb 2013 Ask Price $2,798,000
Latest promo blurb: “Owner spent over $200k to upgrade outside & inside, with City Permit.”
Of course, in Vancouver, people have only been buying properties for personal use. (/sarcasm).
This reno-flip is on the brink of being underwater, probably already there.
Imagine what’ll happen when buyers collectively realize that houses like this are worth about a million bucks and change, tops.
This is just one example that jumped out. View many other descending ask prices on VancouverPriceDrop. Check that site out if you haven’t yet seen it.