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Sechelt Development - Trail Bay Estates
09-04-2015, 12:54 PM, (This post was last modified: 09-04-2015, 02:32 PM by Skook.)
#12
RE: Sechelt Development - Trail Bay Estates
ddhawk is correct; a lot recently sold. Lot 53 Compass Lane closed this week.

Lot 53 originally sold prior to 2008 – likely in 2007 when prices jumped significantly on the SC and speculators ran wild up and down the coast. In the spreadsheet above, all the lots showing a gold box just to the right of lot number were sold prior to the TBE website going live in early 2008. My guess is in 2007 the lots sold in the mid to high $200,000s. In 2008, unsold lot prices dropped significantly due to the financial meltdown in late 2007.

The lot 53 owner held on until March 2014 when the lot was listed for $197,000 which was in line with the developer’s list pricing but less than other owner resale pricing. In April 2015, the list price was dropped to $188,900 and the lot just sold for...$175,000 – a drop of -11.2% from the 2014 list.

If Lot 53 were originally purchased for a minimum of $230,000, that final sale price represents of drop of -25%. Then add in the purchase fees and taxes, the eight years of municipal taxes, the lost investment opportunities...bah, so what; dems da breaks and its ancient history. 2015 is the start of a new 7 year cycle and the new owner of Lot 53 – he’s laughing especially if he’s from the lower mainland where he and everyone else is humming this oldie but goodie...yes, it’s time for your Vancouver Peak musical interlude!
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RE: Sechelt Development - Trail Bay Estates - by Skook - 09-04-2015, 12:54 PM

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