Last February I listed 1871 Stainsbury in the Works building. This is in the Victoria area of East Vancouver  and close to Trout Lake. This was a lovely townhouse 2 bedroom 1 bath. This sold in 4 days for $424,000.

This February 1839 Stainsbury was listed and sold in 4 days. A larger townhouse at 764 sq ft 2 bedroom 2 bath. The list price was $449,000 and it sold for $460,000. 

The market has been competitive so far this year and I don't see there being any less competition.

I am asked by buyers all the time how to win out in competing offers, well there is no way of telling what other bidders will bid, so you need to make your offer as attractive as possible.  

Some ways to be a step ahead in making an offer on a condo or townhouse:

Consider reading all the minutes before submitting your offer, if you can, do not put this subject in your offer. 

Have your financing approved before you submit your offer. Financing is the weakest subject you can have in your offer. To be competitive have your financing approved so you dont have to have this subject. 

Is it possible to do an inspection before you submit your offer? I would only recommend this if you plan to submit a subject free offer. To spend the $500 dollars and not be the successful offer is frustrating and expensive. 

What dates do the sellers want? By accommodating the sellers your offer will be more attractive. 

Karley Rice of Macdonald Realty  has just listed a Townhouse for sale at the Works. 133 1863 Stainsbury. 1238 sq ft. 3 bedroom 2 bathroom asking $675,000. There is an open house on Sunday March 8th 2-4 pm. I expect this one to sell very quickly. 

The following properties I viewed with clients this past weekend and the Buyers comments on the properties:

1336 E 17th. A nicely done character house priced at $1,699,000. Ideal for for someone who wants their kids to attend Charles Dickens School.  This house has a two bedroom basemet suite and two bedrooms on the main floor and master bedroom on the top floor. My cleints felt that they would prefer all bedrooms to be on the same floor and there was some traffic noise from Knight street.

1733 E 6th. Well priced at $699,000 but I am sure that it will sell substantially higher than the asking price. Very small but a cute cottage style house in the Commercial Drive area.

2150 Charles two brand new half duplex properties ( one already sold) priced at $899,000 and 1,738 sq ft. This was the nicest property we saw on tour. Really nice finishes with three bedrooms upstairs on a great street in the Commercial drive area. 

645 Skeena a renovated character home in the Renfrew area. Priced at $918,000. Perhaps a good starter home for a small family. 

PH1 2736 Victoria. two bedroom listed at $499,000. This Penthouse had some nice features such as vaulted ceilings and real hardwwod floors. Very spacious at 970 sq ft. The agent told me there was an offer coming in the condo. 

If you have any questions about these properties or new listings on the market, feel free to email or call me at 604 818 7422 or carol@macrealty.com

If you are fortunate enough to own a home in East Vancouver you may want to consider selling this year!

There is a shortfall of homes for sale in East Vancouver and this shortfall is adding to the simple economics of supply and demand. 

The last few sales this year in the Commercial Drive area have shown that sale prices are from $1,133,000 to $1,718,000.  

Time will tell if prices continue to escalate.... 

For property owners this is all very good news, for buyers it is frustrating to bid on houses and not have the result of a purchase. 

I wish you well in your endeavours, and as always if you need assistance in Buying or Selling on the East side of Vancouver, feel free to contact me. 

THE CRAZY WORLD OF REAL ESTATE AND THE CRAZY PEOPLE WHO OVERBID

Recently a property was listed in the Commercial Drive area at 1735 E 3rd list price was $1,588,000.

This property had 4 bedrooms upstairs and a 2 bedroom legal suite.

This house was completely re built in 2012 to enhance the character, update plumbing,

electrical and replace windows.

The property sold for $1,540,000.

Here where the Crazy part of the story begins….

1737 E 2nd was listed in the Commercial Drive area for $1,499,000. This home had

1 bedroom upstairs 1bedroom on the main floor and two bedroom basement suite.

This also was a remodelled Character home.

There were 4 offers and the sale price was $1,718,000. ( No that is not a typo)

I am not sure who the Buyers were, but I can tell you that no bank would appraise the property

at this value, which means the buyers have very deep pockets and most probably are from the

“West side”.I don’t believe this is a sign of what houses will be worth this year in the

Grandview Commercial Drive area.I do believe that it will be a competitive market and if you need

some sound real estate advice, I am happy to answer your questions.

Carol Palfrey

Associate Broker

Macdonald Realty

604 818 7422

carol@macrealty.com

www.eastvanlistings.com