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Sechelt Development - Silverstone Heights
12-28-2013, 12:03 PM, (This post was last modified: 01-24-2014, 02:23 PM by Skook.)
#5
RE: Sechelt Development - Silverstone Heights
It’s been just over two months since the first property at Silverstone Heights (5533 Peregrine Cr) went up on MLS and just over one month since the remaining 29 properties joined it. Nothing has moved yet, but that shouldn’t be a surprise as there has been no substantial marketing of the project. That marketing likely will get underway once the show home/sales centre at 6010 Cowrie (lot 9) opens its door which is scheduled for sometime in January.

If Greypointe follows in the footsteps of previous SC developments, a local freelance writer will likely be hired to prepare a piece which will then be submitted, or sold, to the Vancouver Province or Sun to appear as a ‘Special to’ so it can get out on the Postmedia Network and with luck be picked up by the Calgary Herald or Edmonton Journal - you know, in that province that appears to have the last really “hot” real estate market in the country.

It looks like steps are being taken to get ready for the big marketing push. For instance, Greypointe has removed all the MLS waterfront lot listings down below in its not-so-successful first development ‘Silverstone at Sechelt’. These listings disappeared at the beginning of December and all that remains on MLS is one lonely owner resale lot (#17 - 6035) at the somewhat close to purchase price of $649,900.

It makes sense for Greypointe to remove these never sold, steeply discounted lot listings so that those searching on the internet for its new subdivision don’t get confused since there is no ‘Silverstone Lane’ in Silverstone Heights. However, the lots are still being marketed as the ad below shows. It appears in this month’s Sunshine Coast Real Estate Guide as it has in every addition since March. The lots will likely now be handled as exclusive listings by SC Re/Max Oceanview Realtors Patrick Hobbs & Carrie Caldwell who are marketing the new ‘Silverstone Height’s project. They also handled the ‘Silverstone at Sechelt’ project along with Sotheby’s International those six or so years ago.

[Image: attachment.php?aid=682]

A thought came to me as I was looking at the ad above. I think if I were Greypointe I would take the last two or three lots on the left and donate them to the DOS and throw them into the already existing parkland next door and go for a tax break. The DOS address map below shows that parkland (6133) created by Greypointe during the rezoning application for ‘Silverstone at Sechelt’. Those three lots have gone through substantial price drops especially 6101 ($499,900 in 2012 to $369,900 in 2013) and keeping them in the pool is only costing Greypointe money each year when tax time comes around.

[Image: attachment.php?aid=683]

Yep, dump those three and get the donation tax break. There are still the remaining six lots - four directly on the water - that could bring in some cash if waterfront properties should ever rise in price, again.

(Just watch, now that I have written this all those lots will be relisted again in January…nah, I doubt it)

January 24, 2014 Update:

Oh sure, prove me wrong. Yep, all the lots were relisted on January 15th...LOL. So, they have spanking new MLS numbers, but the same old prices. I think it might be time for a new site plan, though, to go with the nice new MLS numbers as the one up above has been kicking around for quite a while - Lot 13 sold way back on February 18th, 2013 (listed for $599,900 and sold for $525,000).


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RE: Sechelt Development - Silverstone Heights - by Skook - 12-28-2013, 12:03 PM

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