Sechelt Development - Trail Bay Estates

[Skook]

June 26, 2013 Update:

There are three spreadsheet updates to mention since my post on the 17th. Two are price changes and one is a new listing.

The owners of Lots 30 & 55 bit the bullet and lowered their list price - finally. Lot 30 (Cowrie St) has dropped $20,000 to $339,000 but is still 60% above assessment. Lot 50 (Compass Lane) dropped $30,000 to $299,000 and is now 50% above assessment. The change must be recent because the old pricing is still up on their agent’s website. However, it won’t be enough to get these lots sold. You will need to get that pricing down towards the $200,000 mark to even be in the ball game - bad news.

The new house listing is interesting. It is on Lot 31 - 5973 Cowrie St. You can find its position on the site map in the first post and then look it up on the address map which will indicate it is one of the lots with two street numbers (5973 & 5975). This lot has no ‘history’ because it was among the many lots indicated as ‘sold’ from the time of the big bang.

I went onto Google streetview and drove down Cowrie. Lot 31 is the fifth lot from the end and the drive (August 2001) shows three houses at the end then a bare lot and then a home under construction and those images are below. I think this is house now listed.

If this were a Clayton Family build it would be listed with Gord Clayton at Re/Max; however this is listed with Royal LePage so I am thinking this is either a builder’s spec home or an owner resale. The listing describes the home as 1 year old so if it’s the latter then the owner isn’t sticking around for some reason - maybe because the assessment keeps dropping.

Speaking of the assessment, it’s been pegged at $657,000 and the list price is - $995,000 - a generous 51% above the assessment. Good Luck.

As for that double street address, this home has been ok’d for a legal suite and there is a separate entrance. Whether or not it was ever rented out is another question. So, maybe that ‘mortgage helper’ is built into the list price as well as all the ‘high-end’ doodads listed in the description.

The house is described as 1,730sf with 3 bedrooms and 3½ bathrooms on an 8300sf lot (front 98’, depth 172’). So, what do you think - is this worth almost $1,000,000?

Oh, I forgot it has that ocean view and from the looks of it no immediate neighbours to worry about not even from down there below on Barnacle St. Guess the peace and quiet is built into the price, too.

The house was listed five days ago and still no pictures.

June 27,2013:

I have found the agents behind the listing. It is Brynelson-O'Reilly who seem to be the agents of choice for anyone considering their properties as "Carriage Trade". Here are three updated pics - and I did pick the right property using Google.

On the agent site, the square footage is given as 3,475 which makes more sense then that given on the Royal LePage company listing. That figure of 1,730 must be for the top floor only. This would put the lower floor at 1,745 or vice versa and from the listing pic is doesn't look like the lower area was rented out as a separate suite. Here is the listing webpage and you can decide if you think this house is realistically priced. My opinion hasn't changed.