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5500 Lynas Lane, unit 415, Richmond, B.C.

5500 LYNAS LANE, UNIT 415, RICHMOND, B.C.

ASKING PRICE: $628,000

SELLING PRICE: $615,000

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DAYS ON MARKET: 34

TAXES: $1,379.72

MAINTENANCE FEE: $404

LISTING AGENT: Bryan Yan, Regent Park Realty Inc.

The action: The sellers paid $250,000 for this two-bedroom unit in 2004, but have now retired and are moving to Kelowna, B.C. The unit sold for 50 per cent more than its assessed value – unusual in the current market, listing agent Bryan Yan says. The 22-year-old unit has not been updated since it was built and the building does not allow rentals, which made it a tough sell. However, Mr. Yan priced it high and received two offers.

What they got: The 921-square-foot unit overlooks water and mountains and has a 12-1/2-foot, vaulted living-room ceiling. The 1995 building was rain-screened in 2011. Features include unobstructed views, a gas fireplace, balcony, two parking stalls and a nearby walking trail.

The agent's take: Mr. Yan says the sale had its challenges, but the view was a selling feature. "There's the rental limitation and there's a recycling depot across the street. It's not walkable to the city centre, either. You'd have to drive."

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The sellers asked him if they should renovate it prior to listing, but he advised them not to; buyers typically want to renovate themselves, he says. The condo market is still hot he says, but units can sit if not marketed properly. A similar unit in the same building is has been listed for more than 90 days.

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