Vancouver Real Estate Odd Spot
Posted July 29th, 2008 in Real Estate, Sharing the Experience | 
Life Saving 101
Swimming instructors will tell you that if you fall in a fast flowing river you should swim with the current. That simple understanding is critical in assuring that you give yourself the best chance of reaching the shore and not drown. Yet, there is always someone who just doesn’t get it. Instead they decide to swim against the current. Such an oddity exists in our current Vancouver real estate market.
Long Uphill Swim
1309 W 55th Ave has been for sale for 925 days. That’s a little over 2.54 years which takes us back to the raging waters of surging house price increases during 2006 and 2007. This house, quoting the listing realtor, has a “non-replacable” (their spelling not mine), floor plan and was originally listed for $2,580,000.
Mother Nature Doesn’t Lie
During those “heyday” years of climbing prices this house did not sell. Now with sales volume dropping over 40% and price reductions becoming a daily event, 2008 has turned the river into a creek. Being contrary is always an interesting position to hold but as most everyone knows, is not particularly wise when you are up against mother nature. Invariably you lose to the greater power. In 2008, 1309 W 55th proclaims its position. This property is taking on mother nature by swimming against the current. It has raised its list price to $3,888,000. A small increase of $1,380,000 in a diving market.
Different Class
At at time when most sellers are reaching for their life jackets you have to wonder if all the floor tiles in the non replaceable plan have been properly set with mortar. The alternative, the owner and Realtor® representing this listing, attended a different swimming class.
Got a Vancouver Real Estate question? Always happy to answer it. Call or send me an email.
Larry
