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Sunshine Coast Price Drop: How low will they go?
01-25-2015, 09:46 AM, (This post was last modified: 04-17-2015, 10:24 AM by Skook.)
#13
RE: Sunshine Coast Price Drop: How low will they go?
4830 Sinclair Bay Rd Update

It’s hard to believe but the price drops keep coming for this Garden Bay home up there in Pender Harbour. My original post for this waterfront property can be found here. However, I’ve reached my maximum image limit there so I’m adding its new spreadsheet in this post.

Since my last update in November, there have been two more price drops. The last drop occurred when the property was relisted on January 14 which freshened up the MLS listing number.

(April 17, 2015: old price spreadsheet removed - new spreadsheet in update below)

Interesting enough, the property was listed on Craigslist in December as a holiday escape rental. It had quite a wordy write-up and offered these rates:

Quote:$495 per night Sept -- Oct 13
$395 per night Oct 14 -- Dec 22
$495 per night Dec 23 -- Jan 2
Rate quoted is based on up to 12 people in the main house.
Extra people @ $25 per night each
Min. stay is 1 night

I wonder how this is working out.

Let's see...the next drop should take place in mid-February.

April 17, 2015 Update...


Well, me golly gosh...4830 Sinclair Bay Rd has sold. I was just looking at the table the other day thinking a price drop was overdue, too...LOL.

So, let’s see. It finally sold at $595,000 – an additional drop of almost $55,000 since January’s last list price “correction.” The property’s market “value” (what the market perceived it was worth) dropped a total of $334,900 or -36% from the original January 2014 list price.

To think that back in May 2007, this Pender Harbour waterfront property was listed for close to $1.5million and likely sold close to asking because that was a wild and wooly year. You can read about the 2007 pricing in my first ‘4830’ post by clicking here.

[Image: attachment.php?aid=1121]

That's a wrap.


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RE: Sunshine Coast Price Drop: How low will they go? - by Skook - 01-25-2015, 09:46 AM

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