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Vancouver bungalow goes over-asking with 10 bidders


ASKING PRICE $1,438,800

SELLING PRICE $1,520,000

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TAXES $6,148 (2012)


LISTING AND CO-OP AGENTS Andrew and Jill Hasman, Re/Max Real Estate Services

The Action: A couple of weeks after the new year, this ranch bungalow hosted an open house with over 100 attendants. Though the list price was based around comparable sales before the holidays, one buyer was willing to pay much more to beat out nine rival bidders.

What They Got: This 33 by 122 foot lot is zoned for a house over 2,800 square feet and a laneway house nearly 500-square-feet, yet the 51-year-old structure on site is just 2,036 square feet with a private garden and double garage.

A newly added roof and windows makes it cozy inside, where there are two bedrooms, one bathroom, living and dining rooms and an eat-in kitchen on the main floor, as well as a two-bedroom basement suite with another bathroom, entertaining and cooking areas.

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The Agent's Take: "It's in a very desirable, prime neighbourhood called Dunbar, which is a very sought after west-side neighbourhood with good schools," says agent Andrew Hasman.

"The reason we got the response we had was because there was nothing else on the market when we came on, which was really early in January, so the early season momentum kicked in right away."

Most house hunters, including the new owner, was drawn to this property purely for its land value. "It's a very simple 33-foot wide and 122-foot long, level lot with a south-facing backyard," Mr. Hasman states.

"If you look out the door of this house, you see four new homes that have been built in the last 18 months. The whole neighborhood is changing dramatically, but it's a very well established, family-oriented neighbourhood."

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