Wednesday, December 4, 2013

Remember the fake mansion which gained notoriety as Canada's most expensive listing?

Time to do a little catch up today.

You all remember our February 27th post about Canada's most expensive listing and it's role as the latest chapter in Vancouver R/E media manipulation?

It was the West Vancouver property we dubbed the 'fake mansion' because the pictures were of a non-existent house.

As the photos went viral around the world, the reality came out about how the  media was duped.

After the hype died down, some semblance of reality set in. On September 3rd we told you how the asking price of the property was reduced by $25 million (or 66% ). That reduction brought the asking price down to $12,888,000 for a property assessed at $6,768,500.

Last month our infamous fake mansion finally sold, we are told, for $8 million.

Did Canada's most expensive listing suffer Canada's greatest price drop?  Or is it another property that sold for way over assessed value?

Like so much in real estate these days, it could be both a glass half empty and a glass half full.


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  1. I've looked at the property. I am not in the market for high end lots but IMHO it is too close to Marine Drive to have that exclusive feel that | would hope you would get for 8 big ones.

  2. It's not even worth the assessed value.

  3. I looked at it and put my valuation at $4.9m..tops, if a purchaser was desperate !
    Too close to Marine, comparables blew it away.
    Afraid I can not understand $8m, someone with way too much money to launder !