Sechelt Development - Trail Bay Estates

[Skook]

I agree Philpout it does seem hard to believe; but, what I post next might help.

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I had a thought after my yesterday post and did a google search. The google result included two websites that I feel are worth mentioning because they give credence to what I said above.

The first site is a WordPress blog created by the owners of Lot 23 on April 11, 2013. My spreadsheet indicates I knew this was a FSBO listing (For Sale By Owner), but I must have had another info source because I give an exact list date of January 12, 2013. I want to show a page image just in case the site disappears in the not too distant future.

The text in that blog post tells us that the lot owners already live in Sechelt and have done so for the last 20 years (you can tack on two more years). Now, why did they buy this lot in Trail Bay Estates? Did they plan to build a new home? Doesn’t look like it. Any thoughts on how many other “locals” own lots in TBE or in other SC development projects? Probably more than a few.

As a real estate investment, buying a lot in TBE prior to 2009 make perfect sense. The 2006 census indicated that the Sunshine Coast had experienced the strongest population growth in BC during the previous few years. Who could imagine it coming to a screeching halt? That is real estate for you. When the boom is on its one big party, but when it crashes it behaves like a big Ponzi scheme. Lord help you if you’ve put all your eggs in this one investment basket.

This is what many are saying about the real estate market in Vancouver right now – that it is not foreign money driving up prices but locals “investing." Oh, hot Asian money played a role in west Van and Van West in the recent past, but what’s happening east Cambie and now Main – that’s local. Ever dropping mortgage rates are only encouraging the frenzy.

The second site is the ReMax Oceanview Realty webpage listing for Lot 8 Barnacle St. It’s the pics that are worth viewing. In my first post in this TBE thread I directed viewers to agent websites and listings for the pics but by now they’ve either culled them, still use old pics or the listings are gone altogether. But, this Lot 8 listing went up just this past December so the pics are recent; before these are “culled,” I’ve grabbed a few screenshots.

On the left below, the view is from Lot 8 looking north along Barnacle St towards the house on Lot 13. You can scroll back to the first thread post for the TBE site map. The roadway to the left of the house is Highway 101 – the main route up and down the SC from the ferry terminal to Earls Cove. That area to the right beyond the home is the new Silverstone Heights development.

As for the picture on the right, I’m not sure why the rodent’s eye view; but, on the plus side it’s excellent for showing us how the lots are maintained – ‘sold’ or otherwise. So, Lot 8 is a developer listing – the lot has never been sold. Lots 9 & 10 were both purchased before August 2008 and sit empty. Lot 11 is a current developer listing. Lot 12 is the developer’s lot that sold this past December.

The agent has also put together a video tour and includes some additional snaps like the one below – it’s my fav. Also, for some unknown reason, the agent includes a pic of Lot 60 – go figure. Yep, I think this video tour needs to edited real soon (be sure to turn up the volume – zzzzzzzzzzzzz).

There hasn’t been a lot of activity at TBE since 2007 and I wouldn’t be surprised if critters moved into the vacant spaces when clearing got underway next door at Silverstone Heights. Here’s some advice for those building beside overgrown lots anywhere and this comes from my own parent’s experience. Keep a regular eye on the home as it goes up to ensure the builder is filling in every nook, cranny, gap, and the space around anything coming in and going out; otherwise, you’ll be needing a cat and a good supply of traps. And, don’t forget that rodents climb. I was sitting on the deck one day and watched a nice, big fat mouse scoot up the board and batten façade and was trying to wiggle into the soffit before it got wacked. We started the soffit inspection that afternoon.