The weird world of Vancouver real estate

Today I walked by this perfectly nice house. New (built in 2010), quite big (over 4000 square feet) and convenient (close to good schools, public transit, and major roads.)

So, if you were the real estate agent marketing this $3,388,000 house what would you focus on?

The old adage about real estate is the three most important things are, "location, location, location".

And what is important about the location of this house? According to this listing, this house offers a "potential development opportunity in the Cambie Corridor plan!"

Yes, this big new house is being sold as a tear down. "City proposed FSR of 2.0 to build 4-storey low-rise apts."

So the whole house, including the brand new kitchen that probably cost $100,000, will be torn down for some tatty condominiums that will probably start leaking in the first heavy rains. The Vancouver real estate market is irredeemably weird.