24 Million Dollars Dirt Cheap

[VancouverGoinUp]

Folks,

Vancoouver continues to blow the credit crisis, US housing bubble and everything else out of its path. IT IS UNSTOPPABLE. NOTHING CAN STOP IT PERIOD.

One of the locals out here has his house up for sale for the ridiculously cheap price of 24 million dollars. Outrageous you say? Think again. The average price of Vancouver real estate within 50 years will be well over 24 million dollars a home. Can you afford not to invest? I think Not

Come join us in Paradise where a starter home can be bought for a measley million bucks

For sale: cosy home. Yours for just $24 million


Derrick Penner, Vancouver Sun

Published: Wednesday, July 16, 2008
METRO VANCOUVER - Developer Milan Ilich is attempting to notch a new entry in Vancouver's ultra high-end real estate market by listing his and his wife Maureen's equestrian estate property, known as Ivy Manor, for $24 million.

NOW HERE IS THE KEY POINT SHILLER DIDNT UNDERSTAND

However, he still sees significant numbers of high-net-worth buyers being drawn to Vancouver, many of them from Mainland China.
"They still see incredible value in [Vancouver] properties at current prices compared to other cities in North America," Hasman explained.
Currently, there are 65 homes in B.C. listed at prices above $7.5 million, the most expensive a $29-million waterfront mansion in Oak Bay near Victoria.
Just in the last week, Hasman said, Vancouver has seen two sales in the $10-million-or-over range.

[raja]

Re: 24 Million Dollars Dirt Cheap

Folks,

Vancoouver continues to blow the credit crisis, US housing bubble and everything else out of its path. IT IS UNSTOPPABLE. NOTHING CAN STOP IT PERIOD.

One of the locals out here has his house up for sale for the ridiculously cheap price of 24 million dollars. Outrageous you say? Think again. The average price of Vancouver real estate within 50 years will be well over 24 million dollars a home. Can you afford not to invest? I think Not

Come join us in Paradise where a starter home can be bought for a measley million bucks

For sale: cosy home. Yours for just $24 million


Derrick Penner, Vancouver Sun

Published: Wednesday, July 16, 2008
METRO VANCOUVER - Developer Milan Ilich is attempting to notch a new entry in Vancouver's ultra high-end real estate market by listing his and his wife Maureen's equestrian estate property, known as Ivy Manor, for $24 million.

NOW HERE IS THE KEY POINT SHILLER DIDNT UNDERSTAND

However, he still sees significant numbers of high-net-worth buyers being drawn to Vancouver, many of them from Mainland China.
"They still see incredible value in [Vancouver] properties at current prices compared to other cities in North America," Hasman explained.
Currently, there are 65 homes in B.C. listed at prices above $7.5 million, the most expensive a $29-million waterfront mansion in Oak Bay near Victoria.
Just in the last week, Hasman said, Vancouver has seen two sales in the $10-million-or-over range.

And when the global recession/depression hits big in the next months or year, where will the rich Chinese be then? Prices will plummet . . . VancouverGoinDown :eek:

[GRG55]

Re: 24 Million Dollars Dirt Cheap

Folks,

Vancoouver continues to blow the credit crisis, US housing bubble and everything else out of its path. IT IS UNSTOPPABLE. NOTHING CAN STOP IT PERIOD.

One of the locals out here has his house up for sale for the ridiculously cheap price of 24 million dollars. Outrageous you say? Think again. The average price of Vancouver real estate within 50 years will be well over 24 million dollars a home. Can you afford not to invest? I think Not

Come join us in Paradise where a starter home can be bought for a measley million bucks

For sale: cosy home. Yours for just $24 million


Derrick Penner, Vancouver Sun

Published: Wednesday, July 16, 2008
METRO VANCOUVER - Developer Milan Ilich is attempting to notch a new entry in Vancouver's ultra high-end real estate market by listing his and his wife Maureen's equestrian estate property, known as Ivy Manor, for $24 million.

NOW HERE IS THE KEY POINT SHILLER DIDNT UNDERSTAND

However, he still sees significant numbers of high-net-worth buyers being drawn to Vancouver, many of them from Mainland China.
"They still see incredible value in [Vancouver] properties at current prices compared to other cities in North America," Hasman explained.
Currently, there are 65 homes in B.C. listed at prices above $7.5 million, the most expensive a $29-million waterfront mansion in Oak Bay near Victoria.
Just in the last week, Hasman said, Vancouver has seen two sales in the $10-million-or-over range.

VGU: I agree. $24 million is a mere pittance. Pocket change, in fact.

Look what The Donald just did...:eek: :cool:...and all this time we've been led to believe the Florida real estate market was imploding. :p


From the UK Telegraph today:

Donald Trump sells home for $100 million

Last Updated: 1:40PM BST 17/07/2008
Donald Trump, the American property entrepreneur and star of the US version of The Apprentice, has sold a Florida mansion to a Russian billionaire for $100 million.

Donald Trump purchased the oceanfront property for $41m in 2004

In an age of so many people getting hurt in real estate, it shows that you can still do well in real estate," Mr Trump said.
A spokeswoman for Mr Trump claimed $100 million was the most ever paid for an estate in the US, but there was no way to verify that claim.

Dmitry Rybolovlev, the Russian fertiliser billionaire, purchased the oceanfront home, which is around 60,000 sq ft. Mr Trump bought the property for around $41 million in 2004, then renovated it.

He assigned renovations to Kendra Todd, a winner on his reality television show The Apprentice, who dressed it up with marble and 24-carat gold fixtures, even in the bathrooms.

The home, called Maison de L'Amitie, is spread over several buildings and includes separate coat closets and bathrooms for men and women off the main entry. A mammoth fountain greets guests from the front along with 475 feet of ocean in the back...
More...

[RashkaM07]

Re: 24 Million Dollars Dirt Cheap

Awesome, that's sweet!

maison de credit

[c1ue]

Re: 24 Million Dollars Dirt Cheap

And Rybolovlev is now trying to get bailed out by the Russian government. His Uralkali is one of the companies being proposed to be pushed together to form a 'Gazprom' style commodities company - no doubt with Rossteknii as the 'voting rights' owner.