Real estate in BC has become less about shelter and, in some cases, more about investment potential, but one White Rock home has proven not to be the best investment for its former owner.
A home in White Rock recently sold for $1,660,000, lower than the most recent assessed value of $1,999,000. The land value alone is $1,708,000.
On the surface, it seems like the home at 15348 Victoria Avenue should’ve sold for its full potential value, as it’s in a highly coveted location, close to the water, with “endless ocean views.”
- You might also like:
- Metro Vancouver and Fraser Valley homebuyers still hesitant despite Bank of Canada rate cuts
- Worst Delta crash spots revealed including this popular intersection
- This Vancouver home was recently listed for the 13th time in six years
The Agency White Rock
This White Rock property features three bedrooms and four bathrooms in a three-level home.
The Agency White Rock
While the home was built in 1978, it benefited from a major rebuild in 2013. The home features 3,152 sq ft of space.
The assessed value has only increased over the past few years, making the under-assessed sale that much more surprising.
According to Zealty, the home was last sold in 2021 for a final sale price of $1,830,000. The new owner put the house back on the market in February of this year for $1,999,800. That listing was terminated, and the house was relisted in February for $1,900,000. The price was dropped to $1,849,890 before that listing was also terminated in May.
Finally, the home was relisted in May for $1,749,890, but that price dropped to $1,660,000, the final sold price.
This latest sale price falls below the average price for homes, according to the Fraser Valley Real Estate Board. In July, the average home price in White Rock was $2,105,257.
The home looks to be in great shape.
The Agency White Rock
The Agency White Rock, the property’s listing agent, calls the kitchen a “chef’s dream.”
The Agency White Rock
Here’s a little preview of the ocean views this property advertises:
The Agency White Rock
“Do not miss out on the White Rock Lifestyle,” the listing adds.
Do you think this home deserved to earn at least the assessed value? Let us know in the comments.