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12130 Imperial Dr., Richmond, B.C.

Listing price: $1,698,000

Selling price: $1.63-million

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Days on market: 161

Taxes: $5,001.92

Listing agent: Bryan Yan, Regent Park Realty

The action

The 2,900-square-foot, five-bedroom house with three bathrooms is on a quiet cul-de-sac, on a 48-by-98-foot rectangular lot.

The house had previously been listed at $1.8-million. The buyers are a family from Saskatchewan who wanted to be near schools, listing agent Bryan Yan said. The sellers are the original owners who purchased the property in 1989. They had asked Mr. Yan if they should renovate, but he said to list immediately because the market was dropping.

“Also, every buyer has his or her own taste,” he said. “If the buyer is a developer, then the house would be demolished, so there’s no need for owners to waste money to renovate before listing.”

The agent’s take

Sales of all housing types have slowed, Mr. Yan said. “Developers are adding realtor bonuses to get rid of inventory.” Detached properties are selling at or 15 per cent below BC Assessment’s value and luxury homes are not selling, he said. "But there is always a demand for houses that are close to good reputable schools.”

What they got

The 2,900-square-foot, five-bedroom house with three bathrooms is on a quiet cul-de-sac, on a 48-by-98-foot rectangular lot. Built in 1989, the house had not been updated, with oak kitchen cabinets, family room off the kitchen and eating nook with bay window. It has gas and wood fireplaces, double-car garage, 10-year-old roof and recently replaced furnace. It is within walking distance to Steveston Village and shops.

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