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GARBUTT + DUMAS REAL ESTATE TEAM
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James Garbutt

Zero To Here Podcast – Inside Scoop with the G+D Real Estate Team!

ZERO TO HERE WITH THE G+D REAL ESTATE TEAM

As we all know our very own Denny Dumas started his Zero to Here podcast late last year and the G+D Team has finally made an appearance! Monica Harmse, Shawn Kambo, Lucas Mccann and Adam Senuik talk about the current real estate market in Vancouver and what may be coming up in the Spring!

 

GLOBE & MAIL ARTICLE – TOUGH BARGAINING SHAVES PRICE OF COQUITLAM TOWNHOUSE UNIT

Asking price: $598,000

Selling price: $525,000

Days on market: 91

Taxes: $2,116.70

Maintenance fee: $202

Buyer’s agent: Adam Senuik, Keller Williams Elite

The action

The unit is in a complex built in 1988, located near public transit. When the newlywed couple that purchased the unit walked through the door, they knew they wanted it, buyer’s agent Adam Senuik said. But their pre-approved mortgage was only $515,000. Mr. Senuik knew the condo had been on the market for two months at that time and had been reduced from $618,000. After three counter offers, the couple went back to the mortgage broker and came up with pre-approval of $525,000.

What they got

The 1,158 square-foot one-level townhouse has been fully renovated, with laminate floors, carpeted bedrooms and crown moulding, fireplace, quartz counters, heated bathroom floors and soaker tub. The complex was built in 1988 and is near transit and shops.

The agent’s take

Prices started dropping in the fall of 2018, Mr. Senuik says. “Vancouver’s property buyers are winning in a shifted market,” he says. “We have seen a lot of listings on the market much longer than the year previous.” In 2017, he’d see multiple offers drive the closing price above the asking price. It’s a different market today.