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Negotiations delay West Vancouver home sale Add to ...

1440 31ST ST., WEST VANCOUVER, BC

LIST PRICE $2.988-million

SALE PRICE $2.604-million

PREVIOUS SALE PRICE $2.425-million (2011)

TAXES $8,020 (2012)

DAYS ON MARKET 51

LISTING AGENT Jason Jennings/Sotheby’s International Realty Canada

The Action: The two-level, 3,274-square-foot home sits on a lot nearly 20,000 square feet in size, with an ocean view that looks out to Point Grey. The agent says it took at least two weeks of negotiation to agree on the sale price, partly because the sellers wanted to rent the home until they took possession of their next property.

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What They Got: The house, on a quiet cul-de-sac, was built in 1956, but extensively renovated and updated, with a sleek, gourmet kitchen, walk-in pantry and solarium.

It is designed for indoor and outdoor entertaining, and because most of the living space is on one level, with guest bedrooms downstairs, it was perfect for the retirement-age purchasers, who already live nearby.

“It has a massive deck with heaters overlooking an ocean view and it has total privacy,” listing agent Jason Jennings said. “I was just there on Saturday for a party and it’s an excellent entertaining home, especially for an older couple, which is a bit of a problem for a lot of people in West Vancouver. We don’t have a lot of one level homes, so a lot of retired couples don’t have anywhere to go and our condo market is not that nice.”

The Agent’s Take: Although inventory is high in West Vancouver, there have been high-end sales, including a recent one for $16.8-million.

In 2007, about 200 detached houses were on the market, compared with more than 630 today, Mr. Jennings said.

“We’ve got a record amount of listings, so inventory is very high. It takes longer to show houses because there is so much product. It’s an irritating market from a Realtor’s perspective.”

He believes part of the reason for so many listings is reaction to media speculation that the market will stall.

“They are freaking out. People are jumping on the bandwagon to sell. And a lot of the inventory is crap, so it’s stacking up to not-great listings. It’s the higher end sales, the trophy properties, they are the ones that are selling.”

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