Sunshine Coast Price Drop: How low will they go?

[Skook]

5445 Mills Rd, Sechelt

Every day, if I have time, I try to pop into Holywell Properties for two reasons: the first, is to see what’s new in rentals, and the second is to see if those new rentals offer any interesting listing pics - yep, kill two birds with one stone.

So, today, I found this new rental and this is a nice little home.

Now, that I am picking up on the cues, I read the description and immediately thought, “Aw, this home is for sale, too.” Here is the Holywell description with those cues highlighted.

Quote:This beautiful family home, located near bus route and downtown Sechelt on the Sunshine Coast, has 2 bedrooms plus a den and is fully furnished. The home has been renovated with high end finishing and 5 appliances. The back yard is south facing where you can enjoy sunshine all day long. This home is available May 1st on a short term rental basis.

So, I googled the address and here is the MLS listing.

The full description reads:

Quote:Beautifully renovated rancher with 2 bedrooms and a den in desirable West Sechelt. With a bright open plan, this terrific home boasts a newer kitchen, new windows, new flooring, and much more. Enjoy the cozy wood fireplace, huge deck for entertaining, a great neighbourhood and a short walk to the beach.

The home is 33 years old, but you would never know it. They have done a nice reno job without going overboard with granite countertops and stainless steel appliances. This is a great starter home that you could quite comfortably live in until you retire. If you have 1 child, no problem; with 2, maybe not. However, with life getting more expensive, you might want to set up bunk beds or give up the den and try.

Here’s Holywell’s listing page if you want to check out the pics. This rental listing may not last long if the renter plans to stay only one month; it’s an excellent price for a vacation rental that’s fully furnished. If you're coming to the coast for the summer you wouldn’t want to take a chance on it since it could be sold at any time.

So, why are they selling? Good question. I have a feeling they’re moving in with family somewhere if only temporarily because they don’t seem to need their furniture. Now, I also checked out the listing price history and it was listed January 9th at $294,000 and dropped the price today by almost $6,000. I also think they’ve dropped Re/Max because I found that listing above via the reciprocal search feature and nothing came up under Re/Max’s own agent listings.

Maybe with that price drop, the margins are cut too close and they will give PropertyGuys.com a try. I wonder if anyone has come to view this property over the last 3 months. With today’s price drop, it’s about $43,000 above the 2013 assessment and that assessment may have dropped about $5,000 or so this year.

It will be interesting following this property and see how low they will go.

June 15, 2014 Update:

5445 Mills Road is no longer listed for sale. I am sure the seller said, “What’s the point if it’s not moving at that price.” Of course, that notice in the Holywell rental ad that the home “was available May 1st on a short term basis” likely didn’t attract many rental inquiries either.

So, it’s no longer for sale; but it's it still for rent only now it is available August 1st and for $1400/month (Holywell ad); and, it's no longer furnished? Hmm, I wonder what all this means.