Remember those days when one flaw could tank the sale of your home?
It could be a weird-shaped layout, a trashy home next door or maybe the place is just too old to entice a new buyer.
In today’s Burnaby real estate market, however, those things don’t really matter. It’s a seller’s paradise right now as homes with clear issues are selling like hotcakes.
Some old and beat-up homes aren’t even being staged and they’re still selling for $2 million or higher.
An example of a possibly glaring issue could be one-half of a duplex in Burnaby that is selling for about $2.4 million. It’s a new house with modern finishing that is 2,000 square feet with a large front yard.
But in the backyard, according to a photo sent by a reader, the driveway has a large power pole blocking a clear path. (See the photo above.)
It’s not the worst thing for a home to have, but you can imagine having to drive around the pole for years and years.
But as I said, today’s hot market – that includes a scarcity of listings – means many buyers are willing to overlook anything even remotely negative.
Burnaby South currently sits at a benchmark price of $2,067,100 (+4.2% in one month) while Burnaby North was at $2,021,400 (+4.9% in one month), according to the Real Estate Board of Greater Vancouver’s March report.
Burnaby East stayed under $2 million at $1,776,300 (+2.7% in one month).
Follow Chris Campbell on Twitter @shinebox44.
