4005 West 29th Avenue, Vancouver



Asking Price: $1,598,000

Selling Price: $1,700,000

Taxes: $5,110 (2007)

Days on Market: 11

Listing Agent: Walter Wells, Sutton Group West Coast Realty


Although this three-bedroom bungalow would offer ample room for any family, it sold for more than $100,000 over the asking price because of its property value alone, says agent Walter Wells. "While prices seemed to have peaked just before Christmas, recent prices have begun to rise even further this year, as this record-breaking price shows," he says.

Built in the 1950s, the house has a finished basement with seven-foot ceilings, a large recreation room and two extra bedrooms that could easily be converted into a separate suite, Mr. Wells says. The house also has a solar-heated hot water tank, built-in vacuum system, and in-ground sprinkler system, but what attracted buyers was the 53-by-130 foot lot in a West Dunbar location.

"The general location on the west side of Vancouver continues to be greatly in demand for buyers who can afford the million-dollar prices," the agent says, noting: "Dunbar is 10 minutes from downtown, 10 minutes from the airport, but also just 10 minutes from Vancouver's beaches and is situated on the edge of Pacific Spirit Park."

While Mr. Wells describes the home as "well-kept," it is sure to see a complete renovation, if not demolition.

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