The Globe and Mail reported today that at house in Kitsilano sold for $655,000 over the asking price after 25 potential buyers made offers.
2466 West 14th Avenue was listing for $1,895,000 and was sold eleven days later for $2,550,000 by listing agent Marty Pospischil of Dexter Associates Realty.
THE ACTION: This contemporary West Coast residence in Kitsilano was listed for $1.895-million on a Friday, but the first showings were held a week later. This tactic, combined with its attractive price point, helped retain the interest of so many buyers that 25 made an offer. The one accepted presented $655,000 more than the asking price.
WHAT THEY GOT: In 1997, this 3,735-square-foot house was custom built for its location and climate to order to maximize its solar efficiency and natural lighting. Thus, it features large windows, skylights and open concept spaces with nine-foot ceilings.
The main floor was designed with a den, a living room with a one of two gas fireplaces, an open dining area and a media room with a rear walkout, along with a kitchen with high-end appliances, an island and beamed ceilings above the breakfast area.
The second floor hall – topped with vaulted and beamed ceilings lined with skylights – is a bright passageway to four bedrooms, three out of five bathrooms and the laundry facilities.
Two bedrooms are on the lower level, as well as a games room with patio doors.
The property was equipped for convenience and comfort with in-floor radiant heating, surround sound, security and built-in vacuum systems, plus a wine cellar for 250 bottles.
The 50 by 125-foot lot has a fenced south-facing backyard, a solar-heated pool and double garage off a laneway.
THE AGENT’S TAKE: “This home was unlike anything I have sold over the past year,” says agent Marty Pospischil. “It was filled with natural light, had all the features one would put in their own home and was well ahead of its time when built.”
Real estate bubble?
Last modified: April 21, 2011
Something has to be done about speculative buying by foreign nationals….this is getting out of control.
No Rob, nothing “has to be done about speculative buying by foreign nationals”. The house simply sold for market value regardless of who bid it up. It’s a free market and we can’t impose controls to make it more affordable for the average Joe. If you believe in the ‘bigger sucker’ theory then you’ll have a good laugh when prices eventually correct.