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done deal

Sutton Group West Coast Realty

518 13th St., No. 103, New Westminster, B.C.

Asking price: $499,000

Selling price: $492,500

Previous selling prices: $389,000 (2018); $108,000 (2002)

Days on market: 7

Taxes: $1,704.14 (2019)

Maintenance fees: $445.81 monthly

Listing agent: Steve Saretsky, Sutton Group West Coast Realty

The action

The seller was in the business of flipping properties, but his timing was off with this one, listing agent Steve Saretsky said. He’d tried to sell it for a year with a previous broker for $569,000. Mr. Saretsky tried to sell it at $549,000. Within 10 days at a reduced price, they sold to first-time buyers who’d been renting. The deal closed on Sept. 10.

“He bought well, but despite all the upgrades, at the end of the day, the market went soft,” Mr. Saretsky said. “But he made out really well on other house flips in the last couple of years.”

What they got

The ground-floor unit features a fully fenced side yard.Sutton Group West Coast Realty

This ground-floor corner unit was completely renovated last year and the 30-year-old building has also been completely updated with new siding, balconies, windows and roof.

The condo has two bedrooms and two bathrooms, laminate floors, and high-end fixtures in the bathroom. There is a 185-square-foot patio and fully fenced side yard. It includes two parking stalls and is close to shopping and transit.

The agent’s take

Buyers are finding deals in this market, Mr. Saretsky says.

“Where can you get a two-bedroom in large parts of the Lower Mainland for under $500,000 that is fully renovated, in a rain-screened building? I think those buyers got really good value,” Mr. Saretsky says.

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