Another day, another head-spinning deal.

Demand for homes amid what realtors and analysts say is a low-inventory market seems to have driven buyers into a frenzy.

Money seems to be no object as purchasers offer hundreds of thousands of dollars above listed prices of properties.

A recent deal in East Vancouver serves as another example.

The two-level detached home at 7315 Rupert Street went on the market on February 23.

It was listed for $1,688,000.

Home buyers submitted multiple offers.

The seller’s realtor, A.V. Sayson, told the Straight that the five-bedroom, three-bath residence received a total of 21 bids.

After seven days on the market, the home sold on March 2 for $2.3 million.

That’s $612,000 above its original asking price.

The Fraserview property has a 2021 assessed value of $1,664,200.

“Fraserview has been trending up,” Sayson said in a phone interview.

According to the property agent with RE/MAX Pinpoint Listings Team, the neighbourhood is considered to be “one of the nicest areas in East Vancouver to live in”.

“It’s super quiet,” said Sayson, whose team is affiliated with RE/MAX City Realty.

Sayson also shared detailed figures about the market for detached homes in East Vancouver, based on official statistics from the Real Estate Board of Greater Vancouver.

In an indication of strong demand for single-family homes, REBGV numbers show that 136 detached homes on this side of the city sold in February 2021.

The total represents an increase from the 110 sales of freestanding homes in January.

Also, the benchmark price of a detached home in East Vancouver increased to $1,565,800 in February 2021, marking a 10.5 percent one-year change.

Remarkably, Sayson noted that as shown by REBGV statistics for February 2021, the benchmark price for Fraserview was already at $1,945,100.

This places the price of a typical home in Fraserview as the highest in all neighbourhoods in East Vancouver, Sayson said.

"The sale of this listing and the attention it attracted was not unexpected," the Philippine-born and -raised realtor said.

According to Sayson, 7315 Rupert Street started to receive inquiries on day one of the listing.

“A number of the buyers who wrote offers did so without seeing the interior of the house,” he related.

The Straight has reported on a number of deals like the one Sayson did.

To cite an example, a Kitsilano home sold on October 27, 2020 for $2,811,000. This was $613,000 over the asking price. The 1842 Collingwood Street residence has a 2020 assessed value of $1,898,300.

Another one was 2930 West 28^th Avenue in the MacKenzie Heights neighbourhood. It was bought on February 9, 2021 for $2,950,000. That’s $551,000 over the listed price. The home has a 2021 assessed value of $2,411,000

One that got a lot of attention was 3285 Victoria Drive, a detached home located across from Trout Lake.

A successful buyer offered $872,134 over its original asking price. The property sold on February 24 for $2,600,134. Its 2021 assessed value was $1,741,000.

The Straight learned about the 7315 Rupert Street deal from David Hutchinson, a realtor with Sutton Group West Coast Realty and a keen market observer.

Hutchinson noted that although Fraserview is not as transit-friendly as other locations in Vancouver, the neighbourhood has many pluses.

The area is close to neighbourhood malls, the Fraserview golf course, schools, local parks, the Killarney Community Centre, and the emerging River District community to the south.

Central Park and Metrotown, both in Burnaby to the east, are also accessible.

With its frontage of 50 feet and depth of 110 feet, the property features a considerable-sized lot. The 3,089-square-foot home split on two levels offers generous space.

According to Hutchinson, it’s perfect for someone who’s willing to “pay a little more for location and home”.

Or, the property could be redeveloped. The home built around 1965 serves as a rental property. The seller does not live in Vancouver.

As Sayson related, the listing drew a lot of interest from home builders and property developers.

Sayson noted that potential redevelopment could see a brand-new luxury home built, with or without a laneway house. Or a duplex.

Back to Hutchinson, the long-time realtor asked: “Does all this warrant $600,000 over asking price for a house tax assessed at $1,664,200?”

Answering his own question, Hutchinson said: “In this crazy market, for someone it does.”

(This story is sponsored by Scandinave Spa Whistler.)

March 8 is International Women’s Day—dedicated to honouring women’s achievement and promoting equality. The global day of recognition is the perfect opportunity to celebrate local women who demonstrate exceptional leadership inside and outside of their workplace.

Simmone Lyons first visited Whistler in 2007 and after falling in love with the downhill skiing and mountain biking in the resort, she became a permanent resident. Lyons began working in tourism and was hired at the village’s beloved Scandinave Spa Whistler in 2014, as the sales and marketing manager.

Lyons sailing over a mountain biking jumpSCANDINAVE SPA WHISTLER

Scandinave Spa Whistler’s mission is to offer a haven for personal renewal in the Scandinavian age-old tradition where body and mind find peace. The spa is most famous for its outdoor baths that are filled with steaming turquoise water, nestled among often snow-covered trees.

Along with the hydrotherapy experience, visitors can also book massages for ultimate relaxation. The magic of the Scandinave Spa Whistler stems from its welcoming atmosphere and genuine customer service.

After demonstrating authenticity, team spirit, professionalism, and the ability to openly communicate with team members, Lyons became the spa director in 2018.

But leading one of Whistler’s most sought-after tourism experiences has its fair share of challenges. These include navigating the high staff turnover as it’s a seasonal resort destination that contracts massage therapists, which is now implementing COVID-19 safety protocols.

Lyons must also ensure that team members are engaged and feel sufficiently empowered to enforce the spa’s policies promoting silence and prohibiting digital devices. Both regulations are integral to the best possible experience for all guests.

SCANDINAVE SPA WHISTLER

Through teaching by example and embodying the spa’s ethos, Lyons has become a well-respected team leader and mentor.

“With a young and diverse workforce, it’s imperative to motivate our team to apply their individual self-interest toward working together to achieve goals as a group,” she says. “I highly value participation, sharing power, and being as transparent as possible with information regarding our business and operations.”

When Lyons isn’t working, she’s spending time outdoors—a true Whistler local through and through. Lyons encourages staff to take time off that they earn as she understands the significance of leisure and travel when it comes to one’s health and well-being.

“It’s important for me to help our staff grow, not only in their position at the spa but to help them achieve their future career goals,” says Lyons. “As a result, they feel more confident in their work and value their role in the organization. The strength of our team comes from employees who feel appreciated and recognized.”

To make a reservation for the hydrotherapy baths or a massage at the Scandinave Spa Whistler, click here.

For more information, visit www.scandinave.com/whistler.

(This story is sponsored by CBD2HEAL.)

The last year has been nothing short of a disaster. Many people have had to navigate pandemic-related changes, leaving them feeling stressed, anxious, exhausted, and even depressed.

Prioritizing self-care is the best way one can avoid or pull themselves out of the dreaded COVID-19 slump. This can include exercising, caring for a house plant, finding new hobbies, eating healthy, and trying high-quality CBD oil. 

Canadian company CBD2HEAL is committed to developing lab-tested CBD (Cannabidiol) products that help people achieve optimal mental health. Unlike brands like CBD Magic that concentrate on pain relief, CBD2Heal specializes in anxiety relief—something many could benefit from as we patiently wait for the pandemic to end.

If you have been finding it difficult to stay positive and motivated, CBD has an abundance of benefits that can give you that much-needed boost.

Heighten concentration and focus

By now, we are all starting to realize that work-from-home burnout is a very real thing. Even though people were given the opportunity to forgo uncomfortable button-up pants and lengthy commutes, staying focused on work can be difficult. It’s near impossible to go an hour without scrolling through TikTok and trying a couple of the dances in the bathroom mirror.

CBD2HEAL offers several pure CBD and CBD hemp oil tinctures, capsules, and sprays that can help improve focus and concentration. There is no Tetrahydrocannabinol (THC) found in any of CBD2HEAL’s organic non-GMO products so users won’t experience any highs. 

CBD2HEAL

Reduces stress and anxiety

If you’ve been crushing bags of dill pickle chips and chewing your fingernails to cope with stress, it’s time to try CBD oil. Untreated stress and anxiety can result in decreased libido, gastrointestinal problems, lack of energy, and much more.

Instead of finding healthy ways to cope, many people choose to overindulge in alcohol, cigarettes, and food. These unhealthy habits make you feel much worse in the long run.

Several of CBD2HEAL’s products can help reduce anxiety, depression, stress, and anxiety-induced insomnia. Better yet, CBD oil does not cause any withdrawal symptoms or side effects, making it a safe way to improve your mental health. It should be treated like a daily supplement.

CBD2HEAL

Improves sleep quality

If we knew that adulthood went hand-in-hand with difficulty sleeping, we may not have signed up. Getting eight hours of sleep every night is no easy feat, especially when people are spending the majority of their time at home due to the pandemic.

CBD can act as a sleep aid by promoting relaxation because of its anti-anxiety properties and decreasing the symptoms of insomnia. For optimal results, aim to fall asleep at same time each night and discontinue the use of electronics two hours before going to bed.

To browse all of CBD2HEAL’s products, visit www.cbd2heal.ca/. Use discount code STRAIGHT at check out for 20 percent off sitewide.

For updates, follow CBD2HEAL on Instagram. 

If you're looking for full spectrum products, go to CBD Magic’s website.