We’re on CTV News! | New Benchmark 3079 E 22nd Ave
CASE STUDY: 3079 East 22nd Avenue, Vancouver
We’re On CTV News!
3079 E 22nd Ave was a very special property to work with. Standing modestly along a fairly busy road in Renfrew Heights, this 1948 bungalow offered little over 1,500 square feet on a shorter than standard 33’ x 109’9 lot, which also happened to face a lane (on a “T”) which many buyers today avoid. One may assume at first glance that if it weren’t for the hot East Vancouver real estate market, this wouldn’t be much of an opportunity for most people. However, this unique little residence had a lot more to offer – with thoughtful renovations inside, a well-planned basement suite, and a 3 year old, 2 bedroom laneway house in the back.
CLICK HERE to view the original listing.
The owner hired Ashley Smith and Thu Pham of Klein Group, Royal LePage City Centre to list the property in February for $1,188,000 – an asking price more on par with newer homes in the area than post-war bungalows. Rather than simply throwing it on the MLS®, they recognized it would be worth-while to take a couple weeks under an exclusive agreement, market the property to target buyers who would pay top dollar, and develop a significant list of prospective purchasers who would line up to be at the first public open house. Ashley and Thu were intentional that builders would not be a focus – a group of buyers who have been very active in this market. Instead, they sought out investors looking for cash-flow properties, and young buyers with the financial capacity to purchase at a higher price-point, but who would benefit from the extra monthly income. In the end, the weekend open houses were extremely successful. Klein Group’s Aaron Jasper helped facilitate the day (with 3 suites to manage), and they recruited a 4th set of hands from a mortgage professional.
The Monday following the open house, the owner received multiple offers and accepted a firm contract for over $1.22 million. Only 3 months before, a 1 year old home directly across the street with 2 basement suites AND a laneway house sold for $1.28 million. 3079 East 22nd Ave set a new record – selling for more than any other pre-1970 built home in Renfrew Heights in the last year. In fact, it is the highest selling pre-2000 built home in the area besides a 1971-built Vancouver Special which sold for only $60,000 more in February – it was located on a quiet street and on a significantly larger 40’ x 120’ lot. Needless to say, the owner was more than pleased with the results.
HOW did they do this?!
Want to learn how Ashley and Thu are able to specifically target the right buyers before a property hits the MLS®? How do they market their properties differently? If you prefer, they can also sell your house without EVER exposing it to the MLS®!
This listing MADE THE NEWS!
CTV News reported on the sale in March 2015. Watch below to view Klein Group’s Aaron Jasper speak to the current East Vancouver real estate market. CTV News named the segment, “Real Estate Winners and Losers”. Ashley Smith and Thu Pham are happy to report that their client is one of the winners.