Seen at Mish’s blog:
A Point Grey house with a stunning view has sold for more than $9 million — $1,172,000 over the property’s list price. The 1928 house on Bellevue Drive was offered for sale for $7.888 million.
Realtor Bo Park said the seller received 11 offers on the property after the first open house weekend. They were all cash offers with no subjects and most were for more than $8 million.
All but one of the offers were from Chinese buyers, she said.
“It was fast. I was surprised by the number of offers and the price it sold for,” said Park, a realtor with Sutton West Coast Realty.
“It was the view. It is spectacular.”
She said the house was an estate sale and the buyer plans to rent out the place then rebuild within a couple of years.
“The house needs a lot of work — at that price it makes sense to rebuild,” Park said.
Last week, a Kitsilano house on a standard city lot sold for $735,000 more the asking price.
“I’ve been doing this for close to 25 years and I’ve never seen anything like it,” Park said.
“There is not much product out there — that’s why things are so crazy. How long will this last? I have no idea.”