Remember when we told you that some housing experts were predicting “stubborn sellers” would prevent a real estate market collapse in Canada? Well, the case of the most expensive house in the country may be the perfect example of that:
“The price of a West Vancouver waterfront property has gone up from $30-million to $38-million even though it failed to sell when first listed in 2011,” reads an article in Wednesday’s National Post.
And the listing agent admits the 49-year-old home is a dated teardown with “no value.”
“This spectacular property has the potential to be subdivided into three waterfront properties with brand new 8,000-square-foot mansions with triple car garages, infinity pools and up to 32-foot boat garages,” reads the Re/Max listing for “Seaside Mansion on the Pointe” at 3810 Marine Drive in West Vancouver.
If you do have the cash and the impetus to buy the home, according to the North Shore Outlook, you’d be doing the neighbours a favour.
“…3810 Marine Drive has for years been a thorn in the side of some neighbourhood residents, drawing complaints about garbage strewn around the property and derelict cars in the driveway,” the paper explains. “The property’s owners are routinely cited by West Vancouver District for contravening the municipality’s Good Neighbour Bylaw for unsightly and nuisance premises.”
Here’s the Google Street View of the home’s entrance:
And in case you’re wondering what the house cost when it was build in 1964…
“A quick search of the West Vancouver Archives reveals that when Kenneth Hamilton White built the home in 1964, the land was then valued at $25,670 and the new house at $13,950, for a total property value of $39,620,” the North Shore Outlook explains.
The area also has dismal Walk Score of five (out of a hundred). But who cares, right? If you have $38 million to spend, you can probably afford a Segway.
Also of note, the listing includes a number of pictures of a mansion that isn’t actually on the property (example below). This has caused some confusion and a number of media outlets are now having to issue corrections. So just to be clear, the above images are what the property really offers, the below is, according to the agent, a rendering of what could be built.