See the view from this Canmore Airbnb penthouse above? That is what I call A++!
This recent sale was truly a special one for both me and my clients. From the first time the Sellers called me to inquire for my assistance in marketing their property for sale, I knew exactly how things could (hopefully) play out. And that confidence in our market action because of my extremely active role as an associate broker I think is what made the Sellers feel strongly that they wanted to work with me over anyone else.
And these folks bought this property over 23 years ago!
Thats right – these were original owners, who made a very smart decision all those years ago, not just by buying a property in Canmore – but by buying a property with enduring, irreplaceable features, that would only get better with time. Which is exactly what I coach my Buyer clients to look for, and exactly what contributed to the smash result we achieve on the sale of this property.
In this short article, lets talk about this special property, and I’ll also share the market action that ensued below. If you’re considering the sale of your property, and hoping for a similar result – reach out to me personally. I’m always happy to provide my insight and no question is too small when it comes to helping you get the BEST out of your Canmore property sale!
The A+ Short Term Rental you’ve been waiting for! Massive views, preferred light and orientation, top floor, summer ready, this 2 bed, 2 bath two-storey Lodges penthouse condo is zoned TOURIST HOME perfect for Airbnb or personal use. Enjoy unmatched iconic mountain views, a smart layout, and quality finishes throughout. Updates include new flooring, air conditioning, and designer blinds. Stylishly decorated, this property features soaring ceilings, natural light, and a spacious private balcony to complete the package. Fully furnished and ideally located, this is a rare opportunity to own a top-floor mountain retreat in one of Canmore’s best run condos. Plus, amenities here include 3 hot tubs and a year-round heated outdoor pool. A must see!
The first step was analyzing the comparables, and surveying the recent market action to determine exactly where we needed to land in terms of price. While we’ve seen some two bedroom short-term rental properties breaking the $1,000,000 mark, these have really been few. There is a real and psychological barrier that exists at $1M. Many Buyer searches top out at this point, and bank mortgage rules are stiffer above the mark.
My previous sale of a similar unit in the Lodges was also a record breaker; going +$30K over asking and unconditional within 24 hours on multiple offers, at $980K. So we knew we wanted to push for the highest price possible considering the incredible views and features of this property. $999,000 + GST seemed like the logical place to balance price and exposure to buyers. Of course, as I coach my Sellers – we can always come down a bit on the price if we don’t see fireworks in the first week or two. But once you chop tens of thousands of dollars off, it can be very hard to put those dollars back on. Better to give it at least a shot to maximize on price!
Once our stunning photography was completed and the listing was ready, I had one final step to complete. I sent a sneak-peek of the listing directly to my personal client list of nearly 500 buyers and investors. Within an hour offers were being discussed; then we put the listing live.
Within 48 hours, we received a whopping FOUR offers. And while each of them came with at least one condition, I’m pleased to share that all were above the asking price. Once the Sellers made their choice, we had the property under contract and with a backup offer in place – just to be extra sure it would be sold. A few days later, conditions were waived and we had an unconditional, well-over-asking-price sale.
The final price? $1,080,000.00+GST (+$81K over asking!)
Its safe to say my clients were thrilled!
I wish it was like this every time!
While I’m happy to say I do achieve results like this for my clients all the time, when you’re interacting in an open marketplace with unique properties, anything can happen. But if you get the right ingredients together, magic can really come through. A property with irreplaceable features, a price that makes enough sense for Buyers to become interested, and Sellers with the right expectations, all contribute to making the right situation appear. Its always nice to be the “belle of the ball” and to have more than enough interest in your property!
My expertise as a professional lies in bringing out those features, maximizing interest, and always focusing on the goals of my Seller clients to ensure they get the absolute best result possible in the sale of their property. If that sounds like something you want out of your listing agent, I’d love to hear from you for your next sale.
Cheers to another great sale!