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Vancouver Real Estate Downsizers buy New Westminster penthouse at below-list price

Sutton Group West Coast Realty

8 Laguna Court, Unit 2004, New Westminster, B.C.

Asking price: $799,000

Selling price: $740,000

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Days on market: 12

Taxes: $2,982.25

Maintenance fee: $490.55

Listing agent: Ian Watt, Sutton Group West Coast Realty

The action

The kitchen features Sub-Zero appliances.

Sutton Group West Coast Realty

The property had been listed at a higher price with a different realtor. Listing agent Ian Watt received two offers, including an offer of $765,000. After an inspection, the offer was renegotiated. The buyers were New Westminster residents with grown kids who were downsizing. The seller was moving to Kelowna, B.C. to retire.

What they got

The penthouse unit has a dining room that can seat eight.

Sutton Group West Coast Realty

The two-bedroom penthouse unit looks over the Fraser River. The 1,548-square-foot space has an open-floor plan, dining room that seats eight, Sub-Zero appliances in the kitchen, 400-square-foot deck, and swimming pool and hot tub in the 27-year-old building. It comes with two parking spots, and pets and rentals are allowed.

The agent’s take

The unit, which looks over the Fraser River, is a 20-minute SkyTrain ride from Vancouver.

Sutton Group West Coast Realty

Mr. Watt says better deals are to be had in New Westminster, which is a 20-minute SkyTrain ride from Vancouver. Also, he prefers to be the seller’s second-choice realtor. The first realtor often gets blamed for a unit not selling at a higher price. Being the second option is an advantage, he says, because the seller will have accepted that the market has changed. “This is why I love this market. I’m everybody’s second choice.”

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