White Rock, $679,9000

Today’s real estate news, here.

Hey Garth, I know you’re busy, but this listing pretty much should show the rest of Canada how insane Vancoucer’s real estate is getting:
http://vancouver.en.craigslist.ca/rfs/649495389.html

523 sq. ft “cottage” built in 1912 in White Rock (40 minutes from Vancouver) for only $679,900 (the pictures are stunning!) There really has to be a greater fool for this one to sell!
Cam

$679900 Cresc. Beach Village laned 6000sf lot (Crescent Beach)

Truly…the perfect lot. 6000sf, quiet, backs onto Asbeck Lane, southern exposure. 2 lg., healthy maple trees on front prop. line. Surveyed in Fall ’07. 1/2 blk. to restaurants and beach. Lots of parking. 1912 yr. newly reno’d 523sf cottage rented for $850 to fantastic tenant who does not know it is for sale. (pictures do not show renos and shed is gone) 2819 Gordon Avenue.

7 comments ↓

#1 Future Expatriate on 04.21.08 at 12:21 am

Just one question…. which of the two is the house and which is the torn-down shed?

Hope the savyy investor that snaps up this jewel does the math to figure out how much rent will shortfall them on their mortgage payments.

And there’s probably a horrific reason the owner is NOT telling the renter the place is for sale.

#2 jrochest on 04.21.08 at 3:25 am

It’s a palace.

In the sellers defence, though, the ad makes it pretty clear that you’re buying a lot in White Rock, which would be valuable — were that where this is. There’s a two block stretch of Gordon Avenue in White Rock proper, a block from the beach. A lot there would be worth a great deal.

However, Google Maps puts 2819 Gordon Avenue in South Surrey, about a half mile from White Rock beside some train tracks. :)

Perhaps someone should let the tenant know that the landlord’s planning to sell?

#3 Brent on 04.21.08 at 9:19 am

Check out this executive home in Fort Mac for $680,000, what a steal!

http://tinyurl.com/3rw4yt

#4 vultur on 04.21.08 at 12:56 pm

>>1/2 blk. to restaurants and beach.<<

There’s your answer fools. The seller is justifying the price of the LAND due to its close proximity to amenities and ocean. If that info is distorted as jrochest suggests then I suppose the market will let the seller know.

As far as Brent’s comment goes, I should add that Brent is a troll on the Alberta Bubble Blog who is some sort of ex-pat Albertan and basically lives out of the back of his rental car in Florida. He shuffles around, presumably doing contract work, and loves to report how cheap property is in the Florida swamp compared to Calgary. His lack of appreciation for the basic concepts of supply and demand as it relates to real estate are pretty amusing. I would think that even the Great Darth would concede that there are legitimate reasons for massive pricing disparities around the continent and around the globe. Then again, maybe I’m giving Darth Bubble too much credit.

#5 anonymous coward on 04.21.08 at 2:17 pm

Sorry, but I just have share this one, also in Vancouver, right down the street from me:
http://tinyurl.com/3s2snc

$1.5 million for something “waiting for your renovation ideas”.

#6 Mik on 04.22.08 at 12:01 am

40 Minutes from Vancouver.. what F’en planet are you on! Try 70 minutes during rush hour. If the Massey Tunnel is not backup or the Oak Street bridge isn’t chocked up to the Knight Street turnoff.

40 minutes probably at 12 midnight… if you’re lucky.

Also! You’re not buying the home on this lot in Cresent Beach! You’re paying for the land! It’s a knock down my friend!!

#7 bp on 05.09.08 at 11:18 pm

I’ve a place in South Surrey, much nicer and about the same distance from the beach…I’ll undercut that earlier offer by 200k.