Crackshack at $2.4M? – It’s In The Value of The Land! (‘Value’ as a TRADING CHIP, that is…)

“With a $2.398-million asking price, the fixer-upper built in 1930 might seem overvalued.
But in Vancouver’s crazed real estate market, that price would likely be a bargain. The new listing is priced more than $1.1-million under the recent average price for single-family detached houses sold on the city’s west side.
From the street, it looks like a bungalow, but there are two bedrooms upstairs. A mountain view to the north would be possible if a developer were to demolish the home and build a two-storey house. The listing created a sensation on social media last Friday, quickly turning into a stark symbol of just how expensive Vancouver housing has become – a teardown, with the main value in the land.”

G&M, 3 Feb 2016

7 responses to “Crackshack at $2.4M? – It’s In The Value of The Land! (‘Value’ as a TRADING CHIP, that is…)

  1. rod_jonsson_pmd

    pffft! … what a beautiful, as yet unblighted patch of canvas you have … all to yourself … was … geez, stockman’s kicked it into 3rd gear – some gems lately – rant, research and recreation all in one tidy package … to the casual, stuff must have soooo sounded hollow and cranky when everything was still looking awesome … now, it’s a#1 prime play by play plus color as the liquidation / default-a-thon gathers speed

  2. [G&M] – B.C. tables balanced budget that targets “overheated” real estate market

    …”However Mr. de Jong said the cause of rising real estate prices is not clear, and announced a string of disclosure requirements to address concerns about foreign ownership and the use of bare trusts to avoid taxation. Home buyers will be required to disclose their citizenship, but Mr. de Jong said he is not sure that data will lead to any changes.

    “We encourage people to come to British Columbia to invest and we are going to continue to do that. . . We’ll see what the data shows.”…

  3. Brian, this is a beautiful home at a bargain price. I think you and space889 would be happy here.

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