121 GLOVER ST., NEW WESTMINSTER, B.C.
ASKING PRICE $729,000
SELLING PRICE $735,000
PREVIOUS SELLING PRICE $240,000 (1993)
DAYS ON MARKET Seven
LISTING AGENT James Garbutt, Sutton Group West Coast Realty
The Action: After multiple offers, a young couple that plans to do a renovation purchased the house. "The buyers have been looking for about two years, and I've been working with them for about nine months," listing agent James Garbutt says. "This was probably the fourth home they'd offered on, with me as their agent. They love the neighbourhood. Glenbrooke North is as good as it gets outside of Queen's Park in New Westminster."
What They Got: The postwar bungalow sits on a 52-by-132-foot lot on a quiet, community-focused street in Glenbrooke North, an area just outside of tony Queen's Park. The three-bedroom house has a new roof as well as new windows, landscaping, deck, furnace and concrete pathways. The basement is partially finished and outside is a large tiered backyard and garage. "It's a really well maintained house with a great yard and deck, in a great neighbourhood," Mr. Garbutt says. "It's a bit of a project, but it has a great shell."
The Agent's Take: New Westminster's housing market remains a deal compared with nearby Vancouver and Burnaby. The same house a mere seven minutes away in Burnaby would sell for $200,000 more, Mr. Garbutt says. "The market for detached homes in New Westminster is very strong. There is a shortage of houses on the market compared to the number of buyers. We're running bidding wars quite frequently if it's a reasonably priced home, especially in the $600,000 to $800,000 range. A lot of buyers are coming from Vancouver."