Money: This West Vancouver mansion just sold for less than half its asking price. It’s not the only one - PressFrom - Canada
  •   
  •   
  •   

MoneyThis West Vancouver mansion just sold for less than half its asking price. It’s not the only one

08:10  25 may  2019
08:10  25 may  2019 Source:   globalnews.ca

City of Vancouver looks to revitalize West End beaches, but council and park board are in the dark

City of Vancouver looks to revitalize West End beaches, but council and park board are in the dark The city is asking for contractors to express interest in developing a master plan, but councillors and park board commissioners say they weren't aware.

“The market has drastically dropped, and West Vancouver is the worst market in North America with its months of supply. It ’ s got about 14 months of supply and, for example, Burnaby has about seven “Luckily for Michael, he bought it for less than he sold it for, because he bought it far enough back.”

Lisa Sun paces around the Vancouver mansion she’ s been hired to sell by its wealthy Chinese-Canadian owner. The family’ s had it with the new taxes and what it sees as increasing hostility to Asian capital. Canadian taxes are not the only measures weighing on the market.

This West Vancouver mansion just sold for less than half its asking price. It’s not the only one© Courtesy Jila Rezai Real Estate The home on 1175 Eyremount Drive in the British Properties of West Vancouver, which recently sold for less than half of its original $16.88 million asking price.

Some of West Vancouver's most luxurious homes are now selling for steep discounts.

One residence at 1175 Eyremount Drive in the British Properties was originally listed for $16.88 million. The 10,000-square-foot home was just unloaded for $8 million, less than half what the seller was asking.

Last month, a home on the same block sold at a huge discount. The 9,500-square-foot mansion was purchased in 2015 for $11.28 million and recently sold for $5.5 million.

Man convicted in 2016 killing of Japanese student in Vancouver asking for new trial

Man convicted in 2016 killing of Japanese student in Vancouver asking for new trial Last November William Victor Schneider was sentenced to life in prison with no chance of parole for 14 years for the death of 30-year-old Natsumi Kogawa. Schneider has filed an appeal seeking to have the conviction quashed and a new trial ordered on grounds the judge incorrectly answered a jury question and incorrectly admitted statements attributed to Schneider without providing any reason. JUST IN: William Victor Schneider, the man convicted of killing Japanese exchange student Natsumi Kogawa in 2016 has filed an appeal seeking to have his second degree murder conviction quashed and a new trial be ordered.

Huguette Clark' s 'extra' mansion where reclusive heiress never spent a single night sells for .3M less than half its original asking price . Real Estalker says that fashion designer and former Coach executive Reed Krakoff and his wife, interior designer Delphine Krakoff, who just sold

Waterfront Las Olas mansion sells for less than half of its asking price . A waterfront mansion in Fort Lauderdale’ s ritzy Las Olas Isles neighborhood just sold for It also features five fireplaces, an office library, personal massage room, home theater, fitness center and a yacht captain’ s chart room.

"I think it represents the kinds of changes that are happening," said Andy Yan, city program director at Simon Fraser University.

READ MORE: Analysis finds Metro Vancouver shed $89B in home equity last year as market slides

"One has to admit that these properties were probably outliers in how properties are in the rest of the region. But then I also think it perhaps signals the sizable changes that are happening in the market."

B.C. real estate continues to be hit hard amid money laundering revelations, including one report that found criminal activity caused home prices across B.C. to rise by five per cent in 2018.

The Real Estate Board of Greater Vancouver confirms the downturn is impacting West Vancouver more than any other region.

READ MORE: Metro Vancouver home prices slide again, April sales 43% below 10-year average

On average, detached home prices have fallen 15.7 per cent over last year.

"What it means for the overall market is probably going to be determined over the next six months," Yan said, "in terms of the signals of what people are expecting to buy and the kinds of prices buyers and sellers can expect."

Vancouver police looking for more victims after alleged random punching spree.
Police said they responded to several reports of a man punching people without provocation outside Waterfront Station last Tuesday. Vancouver police are looking for additional victims of a man accused of going on a random punching spree outside Wa According to police, the alleged spree happened around 8:30 p.m. on May 28. READ MORE: Vancouver police issue warning after string of random, unprovoked assaults Police said they responded to several reports of a man punching people without provocation. Police allege at least five people were punched by the man.

—   Share news in the SOC. Networks

Topical videos:

usr: 7
This is interesting!