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Sechelt Development - Silverstone Heights
12-14-2014, 05:37 PM, (This post was last modified: 12-14-2014, 05:47 PM by Skook.)
#8
RE: Sechelt Development - Silverstone Heights
December 14, 2014 Update:

A Silverstone Heights update is long overdue. My last posting in June showed only 1 lot sold; now, feast your eyes below – 11 sales! Way to go, Greypointe! It only took 14 months to sell 37% of Phase1 – this is good, right? Well, as my dad would say, “Better than a kick in the butt with a frozen boot.”

Well, I think at these prices Greypointe should be absolutely thrilled with the number moved; because, with October's price increases of up to as much as $100,000 per I wonder how many of these “tradition” builders will move now. We all know though that when it comes to real estate people are “mad as a hatter” these days and just keep buying regardless of price. I’ll be adding a new spreadsheet at the bottom of the post showing all the changes in the past year (sales, price decreases, price increases and relistings with price increases).

[Image: attachment.php?aid=1036]

SC Realtor Patrick Hobbs is the agent handling this project and he has uploaded some listing pics which I found really interesting. In my June 11th post, I mentioned that Greypointe had built a spec home on lot 15 and we can now see its “front” and “back” which I show below.

I think the house wasn’t quite finished, but from what I see I don’t like it and feel it doesn’t quite live up to the original artist renderings; in fact, don’t think it matches any of those renderings (they show much better on the Silverstone Heights website). Back in June, Greypointe dropped the price on this home by $30,000 to $499,900 – could have kept going further, in my opinion.

[Image: attachment.php?aid=1037]

Hobbs took some inside shots, too; but, again, while under construction, so there are some issues and the these pics should be updated. Ok, the artist couldn’t bother to put in the full fan vent so we can ignore that. But we are missing the proper light fixtures, the backsplash and the island looks like it has been stained the wrong colour. The window doesn’t show like in the rendering and maybe that craftsman home feature has been dropped in the finished product. Let’s see, what does the website say:

Quote:All floorplans and specifications are approximations and may be modified or substituted by the developer without notice. Exterior and interior building renderings are artistic impressions only. The agent for the developer does not warrant the accuracy of any specifications, floorplans or architectural renderings, amenities or finishes described in the promotional material. E.&O.E.

Perhaps that goes to explain this whole house on lot 15.

[Image: attachment.php?aid=1038]

So, is it worth half a mill plus? I don’t know and really who knows anymore the value of anything especially when you have bidding wars with crack shacks selling for a million dollars in Vancouver. Hobbs has some inside images for the other spec home at 6010 Cowrie St and you can check out its interior and how it compares with the artist renderings. I think you might agree with me that Hobbs should go back into the Lot 15 home and freshen up the pics.

Let’s get the new spreadsheet up. Three homes sold between April and June and then on July 7th Greypointe lowered or raised the base price on a dozen properties. Good timing because sells picked up in September. At the end of October, 10 properties were relisted and all their prices jumped: 2 increasing by $20,000; 1 by $40,000, 1 by $70,000; and, 6 by $100,000. The two homes that sold in November did not involve these higher priced properties; so, it will be interesting to see how sales fare early in 2015.

[Image: attachment.php?aid=1039]

(Note: homes get built only when the property sells).


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RE: Sechelt Development - Silverstone Heights - by Skook - 12-14-2014, 05:37 PM

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