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Perspective is Everything In Real Estate

Blog by Victor Henning | August 23rd, 2019

Silvertip Properties offer Superior Value
In the big world of real estate, one tends to focus on one product type. When this happens, we find ourselves working with the blinders on and missing a better opportunity.
Two single-family home sales in Silvertip are a great example of this. One home sold for $2,525,000 and the other for $2,055,000. These numbers represent a price of $634 and $579 per square foot. These two properties are 3980 square feet, and 3545 square feet finished, respectively.
Now, many people ask me if a per square foot comparison is a good one to use? My answer to this is, It Depends! In this case, most of the products are quite alike. Floor plans, views, and finishes may vary, but they are generally in the same ballpark.
Luxury property buyers are very discerning and know what they want. Sometimes that focus puts them in a situation where they may miss a better value. Take, for example, a duplex located on the same street just doors away from the properties mentioned above. With a total area over 3600 square feet, this property offers equal or better views and finish level: same double garage and even a few extras not found in the other comparable listings.
Here is the best part, while you have your focus looking at properties at $579 - $634 per square foot, here is an excellent luxury property that measures up or exceeds the other ones, it is selling for $486 per square foot. Now to me, this is where a sophisticated buyer would see a one-of opportunity to own on one of Canmore's best streets.
One of my strengths is to look at real estate here with a broad perspective. I bring my years of knowledge and a critical mind to play every day for my clients. The results are my Clients making sound real estate decisions and enjoy this fantastic part of the Rocky Mountains.
One other thing is to view properties in their entirety. The Duplex at 832 Silvertip Heights is a great example. The Real Estate Council of Alberta rules for measuring a property state that if any part of a floor lever in a property is below ground, you cannot include any of that floor as above-ground space. This property has a full walkout on all three levels the front. Because a small part of the second floor, by the rear bedroom, is slightly below ground the above-ground area of the home has to be quoted at 1,104 square feet when in fact an additional 1,445 square feet are 99% above ground level. Having an experienced Real Estate Agent will help you to discern these important nuances that the numbers don't point out.