Crawl Across the Ocean

Monday, March 08, 2010

Worst Marketing Ever...

I don't know how long this link will last, but I picked this real estate listing up from Vancouver Condo Info (in turn, via Garth Turner's 'Greater Fool' blog), and as a commenter says at VCI, one can only imagine why the realtors saw fit to provide slo-mo zoom-ins on every last abscess of this 'house' rather than simply providing an exterior shot and noting 'land only' or 'teardown' - but of course, what can you expect for a measly $580k...

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  • How much do you think this unit (3635 Prince Albert Street) will actually sell for?

    BC Assessment has them at $519,000... somebody has a sense of humour with this one, although it wouldn't shock me in the least if they got $550k for it. Just another chronicle of the one of the biggest misallocations of retail capital in the Lower Mainland.

    Google street view is here -

    By Blogger Sacha, at 11:44 PM  

  • Well, the market is strong right now, so I'd expect it to sell for over list price, ok maybe at list price in this case. After teardown costs and the costs to build a new house, you're probably looking at $900k -$1 mil all in.

    To be fair, if any capital is allocated to knocking that thing down, it's hard to argue that capital has been misallocated! (although I certainly take your general point).

    By Blogger Declan, at 9:05 PM  

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