Monday, February 16, 2009

Meanwhile... in California

Every once in a while I like to take a peek at what is going on in California's housing market.

Vancouver, British Columbia, in better times, was often referred to as 'British California' and locals loved to compare the two.

So why don't we do that now with some Real Estate.

Here is a house in Vancouver currently listed on the MLS at $600,000 (MLS: V716295, located at 104 E. 44th Avenue). It's a 3 bedroom, 1 bathroom... ummm.. mansion.

Beauty... I'll use my best realtor voice and say "hurry, won't last long at this price".

Now, let's go to Chula Vista, a suburb of San Diego, one of the most liveable cities in the US.

Chula Vista is a community of high end homes which recently sold for $1.4 - $2.5 million dollars.

This hilighted home was bought a couple of years ago for over $1.5 million US dollars. It is currently listed for $585,000 - yes, that's 585 thousand dollars ($1 million dollars off the original price). Compare what less money will buy you here than in Vancouver.

At the end of the video the realtor will pop into the house next door (which has also been foreclosed on). Stay with him, it's interesting to listen to his comments about other owners in the area who are continuing to make their mortgage payments, and what their thoughts might be as they do so.

Or compare to this Valley Centre home, 4,469 square feet on 2.02 acres in a gated community. Can be yours for just $579,900!

Who says Vancouver is in a bubble!


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