Oh man, there is some quality content in this thread lately. Thank you all for the break I needed today.
I’m just logging on to be petty and dump on a local McMansion fake castle I go by frequently in Calgary. One would be hard-pressed to find a more delusional asking price in urban Calgary.
Great neighbourhood – Hounsfield Heights, but this one sides on the artery street at the edge of the neighbourhood, and is generally surrounded by 1950s 1,000 SF bungalows on a busy street in the $700k range. Asking $2,895,000, and been on and off the market for a long time. The interior design is reminiscent of a "luxury" 1990s funeral home, favoured in recent decades by that pre-boomer era snowbird generation born in the 1920s-1940s. The problem is that they’ve aged out of this place.
Several homes with significantly superior quality, on way better lots nearby have been listed and sold smoothly for lower prices in the last few years than this one.
Who will be the buyer? I would expect a 1st or 2nd generation Canadian who has McMansion dreams and a large extended family. Do they have the $1.8M this place is probably actually worth to the free market? What’s the ratio of actual market value to current replacement cost on this one? How painful is this reality check listing process for the owner?
https://maps.app.goo.gl/msQG4aCiduTjS8md7
https://www.realtor.ca/real-estate/28462120/1911-13-avenue-nw-calgary-hounsfield-heightsbriar-hill
(sorry)