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Sechelt Development - Trail Bay Estates
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04-13-2015, 11:03 AM,
(This post was last modified: 04-13-2015, 11:49 AM by Skook.)
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RE: Sechelt Development - Trail Bay Estates
April 13, 2015 Update:
Let’s begin this long overdue update by congratulating Trail Bay Estates on its lot sale in December – Lot 12 moved on the 12th at $184,900. Yes, it was the only sale in 2014, but on the positive side that was one more sale than in 2013! On a sadder note, the Trail Bay Estates website is no more. Why, it seems like only yesterday I visited it and said to myself, “Wow, I’m surprised this site is still up and running.” I think that was at the end of December. So, in recognition of this 'passing of the torch,' I have decided to post one more spreadsheet update and that will likely be it for TBE. I have no idea what the future holds for TBE. As of today, 54 lots have definitely sold. That leaves only 12 unsold lots and 11 of those are currently listed. One lot (#66) is a question mark since I can’t find proof it sold and hasn't been listed the past two years. Now, the best that I can determine is only 21 homes have been built out of a potential 54. This works out to 39%. In other words, 61% of those sold lots were likely bought as investments to flip in a few years at a profit; but, there they sit – empty – and you can’t force people to build on them if they don’t want to or never planned to. I am sure the owners would love to sell but many of the early buyers paid close to $300,000 (maybe more?) when you factor in all the extra costs. Throw in property taxes since then and...well, you get the picture. It is an unfortunate situation and I’m sure not one the developer foresaw. As an aside, I've been informed you can’t make owners cut down the alder, broom and weeds that in time overtake these vacant lots – well, they would if I ran things (would go with the itty, bitty moustache under my nose). So, I updated the spreadsheet and it’s big – we are talking 2009 to 2015, here. I’ve done some testing and the best way to view it is to download it to your own computer and print it off – believe it or not it does fit nicely on a letter-size piece of paper – the print is small but you don’t have to scroll. So, click on the image below and the spreadsheet will open in a new browser tab. Right click on the image and click ‘Save image as” or something similar depending on your browser. If you use Windows, save to a picture folder. Clicking the image should open it in Windows Photo Viewer. Increase the magnification by about a 1/3 and it fits nicely across the screen. If you decide to print the spreadsheet, remove the checkmark from “Fit picture to frame” first. You can grab the Sechelt address map image, too. ******************************
A while back, I was given some old copies of the Coast Reporter and there were lots of gems in the real estate sections. As an example, here are three separate listings spanning three years for one of TBE’s original spec homes. I’m not sure how things worked at TBE. I had the impression that maybe an independent construction company bought a lot and built a spec home as a sort of calling card to drum up business. Anyways, I don’t think this home at 5959 Barnacle St (Lot 6) ever sold. I have it in the spreadsheet as an OL (owner list) because if a builder bought the lot then he/she owns the house and not the Claytons (land developer), right? You will notice in the spreadsheet this home was relisted only few weeks back on March 25th. The MLS listing number is V1113005. The listing price is...$599,900. Its property assessment dropped, again – fourth year in a row. That scenerio is pretty much the same for all TBE properties. Sadly, that big, beautiful oceanview isn’t worth a plugged nickel when no one’s buying. Maybe this year. Any thoughts on TBE or west Sechelt development in general? Feel free to post below (click “New Reply”) or start a new west Sechelt thread. |
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Messages In This Thread |
Sechelt Development - Trail Bay Estates - by Skook - 05-01-2013, 10:24 AM
RE: Sechelt Development - Trail Bay Estates - by Skook - 06-17-2013, 07:42 AM
RE: Sechelt Development - Trail Bay Estates - by Skook - 06-26-2013, 07:02 PM
RE: Sechelt Development - Trail Bay Estates - by Skook - 04-13-2015, 11:03 AM
RE: Sechelt Development - Trail Bay Estates - by Philpout - 04-14-2015, 10:01 AM
RE: Sechelt Development - Trail Bay Estates - by Skook - 04-14-2015, 11:17 AM
RE: Sechelt Development - Trail Bay Estates - by RFM - 04-14-2015, 01:24 PM
RE: Sechelt Development - Trail Bay Estates - by colharpnick - 05-13-2015, 03:04 PM
RE: Sechelt Development - Trail Bay Estates - by ddhawk - 09-01-2015, 10:28 AM
RE: Sechelt Development - Trail Bay Estates - by Skook - 09-02-2015, 11:35 AM
RE: Sechelt Development - Trail Bay Estates - by Skook - 09-04-2015, 12:54 PM
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