<![CDATA[Hail-Mary Pass – 4308 W 8th Ave; Ask Price $6.7M]]>Inventory is rising on the Westside of Vancouver, reaching 500 by 5 Jan this year. Some sellers are looking for deep pocketed uninformed buyers with ‘hail-Mary’ ask prices. Here is as an example:

4306 W 8th Ave; V920530
SFH, 3876 sqft, built 2009, 56 x 115 lot
Asking price: $6,688,000

Some sales history:
Prior home/lot sold on 20 Apr 2006 for $1,708,000
Current SFH built 2009
On market 2009, ask price $4,680,000
Sold 28 Jul 2009 $4,050,000
—

A ‘million dollar’ home, perhaps, but $6.7M?
We’ll hang onto this example for future reference.
Homes like this will sell for less than $2M in the trough.
That would represent more than 70%-off. We’ll see.
– vreaa

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