Miro Cernetig of the Vancouver Sun sums up the Vancouver real estate market, and particularly Kits Point, in an article earlier this week.
By the standards of our gravity-defying real-estate market, it didn’t sound all that irrationally exuberant: a well-appointed Kits Point pad, with about 1,300 feet of space and a view of the ocean. Price: a cool $1.25 million.
I was thinking perhaps I’d found a nice little top-floor unit, maybe even a penthouse, in one of those rain-stained, dilapidated houses bought by an old Kitsilano hippie who fixed it up and is now cashing in. After all, at $1,000-a-square-foot or so, that would be enough to join the swanksters in one of Coal Harbour’s cool new towers. Ought to be quite a place, I thought, heading out to check it out.
Well, it was no penthouse, dear reader. It was a basement suite in a house. And the view? Well, that was what realtors like to call a peek-a-boo, though I’m not sure you could even call it that. To get your $1.25-million ocean view, you would have to gaze through a ground-level basement window, peek under a thick grove of rhododendron bushes, then across the street — hopefully nobody parks by the sidewalk here — look past Kitsilano Park and then, oooh-la-la! A tantalizing glimpse of English Bay, about two football fields away.