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How do you spell BUBBLE

Anyone who has been to Vancouver will attest to the fact that it is a magnificent city – one of the few places where you can go sailing in the morning and skiing in the afternoon. In recent years it has been in the grip of a ferocious property bubble that puts the ones seen domestically to shame. For those who paid too much for a dog box in some suburb most have never heard of because you were told that house prices never fall –  don’t feel too bad

West Vancouver house goes for $655,000 over asking

2466 WEST 14TH AVE., VANCOUVER

ASKING PRICE $1,895,000

SELLING PRICE $2.55-million

PREVIOUS SELLING PRICE $531,000 (1996)

TAXES $8,557 (2010)

DAYS ON THE MARKET eleven

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.

Check out what all the fuss was about.

 

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Comments

  1. Hi Chris,

    We haven’t met but I have heard a lot about you….

    Really enjoying you blog.

    Your love of investment bubbles may lead you to enjoying this commentary on a series of books on real estate investment:

    http://www.boingboing.net/2011/04/28/hilarious-book-revie.html

    keep up the good work

    J (married to _the_ chooklady)

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