Are you sitting on a goldmine?
I think it’s fair to say that we are all aware of how crazy the real estate market is in Vancouver. If you own your home or any other investment properties, chances are you have done extremely well on your purchase.
There is limited inventory and it comes down to the simple economics of supply and demand. Since there are more buyers than homes available, BIDDING WARS are happening every day! Multiple offers on single family residences, condos and town homes! Some properties are outperforming others by drastic margins. Those properties are BUILDING LOTS or anything that resembles one. In some neighborhoods, a building lot with a tear down home, is selling for the equivalent (sometimes more) of a nicely livable renovated home.
From a common sense stand point it makes absolutely no sense, but the demand to build new homes is very high. How can you maximize the potential of your lot? Depending on where you are located in the city, your property will have a different type of zoning attached to it. Just because it is zoned one way, does not mean there is no potential for it to be changed. This is where some agents fail to do their due diligence and can leave lots of money on the table for their sellers.
Before any evaluation, our team does deep research in to everything a property currently has to offer or any future potential to help our sellers net absolute top dollar when they decide to sell. There is a reason we consistently produce 2% more than the market and average agent year after year. Looking in to your local OCP can give you an insider edge on what the city plans for the future of your neighborhood. They may be wanting to add higher density to your area, changing your single family dwelling to an opportunity to build a duplex or a triplex. Click here to download the OCP to take a look at the latest plans for the city of North Vancouver. What is your home zoned for? If your land has the potential for further development and can have value added with new use for the land, you can stand to get significantly more money over a property that does not.
Duplex zoned properties are getting the highest prices they have ever seen in history. If your sitting on a property zoned for duplexes or you have an investment property that is, now is a great time to sell. Our team offers you a Free Home Evaluation so you can see exactly where you stand in today”s market. There is no commitment or obligation on your end. We are here to help.