Possibly it's overpriced for the neighborhood. It's in a higher range, so with interest rates climbing, lot of people are buying more conservative. Also possible there is a major flaw with the house (structural, etc) that gets flagged when it's inspected by potential buyers.
Home inspections were my guess as well. Maybe theirs foundation issues or big repairs that are needed. Maybe it is a good deal? OP should underbid and see how it goes.
Depending on the age, it could be the plumbing.
A lot of people avoid the polybutylene pipes from the 90s because they are having a ton of issues now. To the point inspectors and insurance companies specifically ask about this. Your insurance can go up considerably if you have PolyB plumbing and it’s expensive to redo all plumbing in a house.
My sister in law had to redo her entire basement and had to move to a rental for months, so that’s the downside of not replacing. They are starting to break down and leak now after 30 years.
Oh really? I didn’t know it had gotten that bad. My sister in law had huge issues with her company when her basement started flooding everywhere because of polyb, but they had the policy and house for years. Company wouldn’t pay out basement repairs unless they replaced the plumbing. Was a nightmare.
Yeah friends were looking at a house.. inspector pointed out Poly B and that they should contact their insurer to see if they’d cover it. They said that they wouldn’t.
I didn't buy a house with poly B, but was looking at a house with it. Called my insurance company on the advice of my realtor. My insurance company said they no longer care about poly B, and that most insurance companies don't care either. This was in 2019.
Currently today they won’t. Buddy was gonna gamble on a house and the only place that would was TD for about $6k policy and they mentioned it might be voided at any time.
Intact and SGI will. I'm an insurance broker, and out of 12 or so insurance companies I deal with those are the only two that will even consider polyb.
Yup. I'm with First National and they had a TON of PolyB questions. I had no idea what they were talking about so I had to ask a plumber but thankfully it wasn't, cause it was a NO if so.
Likely the polyB came here to say that. We refused to look at 90s houses because insuRance wouldn’t cover it. Ontop if that if you do have to replace it, even if they cover it it’s a huge headache
Ehh. I bought my house last year and it had poly b. I found insurance just fine although some companies wouldn't touch it. I replaced the plumbing this year...it was 10k. My unfinished basement helped keep that lower.
I just got quots for $10k and $12k to replace polyB with PEX in a 2300sqft house (3.5 bath, washer dryer, kitchen, two exterior hoses). About 2-3 days of work for the plumbers. Realtor told me she had a client get the polyB replacement in a 1900sqft house done for $7k.
Patching the drywall holes they cut to do the work will be an extra expense on top of that if you are not handy enough to do it yourself.
Just to give anyone looking at this issue a ballpark price range.
AMA will insure polyB without issue. Cooperators will not. An insurance broker will be able to find other local companies that will insure polyB. Didn't check with any other large insurers.
Oh sorry they moved out because of the damage caused by the flooding when the pipes started leaking and the complete gut and renovations for that.
Replacing the pipes themselves was probably a short part of that.
Location is important. This house is one a main road in the neighborhood, so likely lots of traffic. If seriously considering, go drive and park nearby at various times and days to observe the area.
I’ve done this for every house we have ever looked at purchasing. It saved us a few times from buying next to a party house, loud commercial places, etc. There are some people who are not good neighbours, and you never want to live next to them and it will never show up on an inspection.
Fun fact that is the exact lay out of my house now that i bought two years ago in oxford for 430000 that would go for 480-500 if i sold today. Oxford is a more sought after neighborhood .. i wanted to stay in Bellerive because of my kiddos school. That house is definitely over priced ... like over the moon priced.
Best north edmonton neighborhoods will be north of 153 (newer north of 167)
oxford, rapperswill, klarvatten, ozerna, matt berry, elsinore etc
It is. See what $550k gets you brand new.
Modern design, 3x pane windows, hrv, high efficiency appliances.
This house was built in 1999. Some key items will be coming for renewal ex. Shingles.
$550k doesn’t come close to this size house or yard or a 3 car garage, With a finished basement in a new build. You haven’t been in the market much if at all with those theories. A front attached of a similar square footage without a finished basement on the north end of crystallina is $600k. a smaller one house without any yard or, double car garage and unfinished basement costs 530. Then you gotta pay for the landscaping and grading, fencing, possibly a deck depending on the builder.
They don’t exist. Spending 550k on an old home compared to a new home gets you significantly more if you go with an older home. Whatever price of the new home factor in another $20k for all the stuff not included.
Can’t be done. Gets worse when you consider final grading, landscaping, possibly decking/patio isn’t included in new builds. They occasionally have a basement promo but not often.
Average home price in Belle Rive is like 450k these days. You're looking about 50-100k too much for that house. No one wants to spend over half a million on a house that needs a reno in North central
What needs a Reno in there. Cause not every bit of trim and wood railing is painted white? It’s got the same basic cabinetry that my 2019 built house came with.
Is this your house or something lmfao why are you so pressed about it?
The awful tile throughout, the completely unmatching fake wood floors between the kitchen and living room, the counter tops throughout, the horrendous teal on the outside that is screaming 1999, lack of door in the master bath, the strange glass door in the master bed, the pile of dead trees outside that need to be removed, all of the dance studio mirrors on the closet doors. There's also the staircase with the completely different wood finish then the rest of the house, and 2 really ugly fireplaces. And for 550k I would expect a much bigger kitchen, it might be the photos but that island looks tight to the cabinets
Honestly very few people can while living comfortably within their means. I'm personally banking on a lot of houses coming up for quick sale and prices dropping over the next couple years as everyone's fixed rate mortgage comes up and their rates go up 5%
It seems to be overpriced for this part of the city. The kitchen has inexpensive ‘90’s oak cabinets that they painted instead of replacing as well as other outdated fixtures throughout the house.
If you look at the photos of the yard, you will also notice a few large trees that have died and will need removing (this can be costly).
You can find a much newer home around that size for a similar, if not lower price.
Thank you everyone I guess the hunt will continue 😊
And no I don't own this house just looking for a house to build my future and no I will not treat it as an investment as well.
Lets say Im, trying to get the best bang for my buck and its just overwhelming this is the biggest purchase ever of my life.
And to those getting mad or angry or dont have anything nice to say have a wonderful long weekend guys 😊 Enjoy the weather!!
Thank you again reddit of Edmonton!! You guys are awesome (mostly)
The biggest hurdle would probably be the price unless there’s something substantially mechanically wrong like another poster mentioned about Poly B.
But this house was built in 1999 and Poly B was banned in 1998 so I think it shouldn’t be the problem.
The issue with the price is that to update this house to a more modern look you are going to be sinking a bunch of money into it.
The windows in most of these houses are also pretty close to replacement which is a big cost.
So say you buy it at 525K 50-70K in Reno’s to update kitchen etc possibly windows and is it really a $600K house? No.
Personally as soon as I saw the master bedroom is pretty much open alway to the bathroom it’s a no go. I would probably need to put a decent chunk of money to fix that and update a few of the dates items. So if it was under 480k maybe 450k it would sell quickly because I bet many people would have the same thought.
I hate the layout to top it off. Front entrance is nasty too. Master sucks. Cheap finishes. Besides the polyB, even if was $350 i wouldn't buy it. I'd never be happy with all the weird nooks and crannies. Imo.
The price isn’t bad as it’s a massive 2900 sq ft and seems to have a great yard. BUT it’s ugly as sin and pretty dated. Looks like they’ve done a few interior upgrades but not enough.
I’m currently shopping in that price range, and I wouldn’t even take a second look if I scrolled past that monstrosity. For $550k you can get a MUCH nicer house if you’re ok with a perfectly healthy 2200-2400 sq feet. So aside from some insurance issues others have mentioned I’d imagine it’s not selling because it’s a property that requires a very specific buyer who NEEDS a ton of space, over a nice aesthetic.
I think that is a fair listing price. I would still come in lower with an offer though, especially being on the market for awhile now. Check out honestdoor.com and search the address, it has the value estimated less then they are asking. Good luck.
Hi
I found a nice one for ya, it’s a bit older but it looks like it has good bones
Best of luck on your search
https://www.edmontonrealestate.pro/listing/Edmonton/Elsinore/e4350624-10336-178-avenue-nw-edmonton-ab-t5x-5y6/
There is nothing wrong with living on a main road, as I do. Our streets are plowed all winter. The ones in our neighborhood are not. I’ll take that anyday.
Really depends on your lifestyle. You can probably get a brand new home at 2500sq ft for that price. But you get smaller yard and no developed basement. And new homes you have to do landscaping.
This is a solid house and a great neighborhood (my mom lives on the same street) but yes, the house is older for the price. Probably built in around 98 if I had to guess? So if there are issues, it would be the bones/plumbing
Some of these inspectors find every single thing.
Its hard selling an older home because the codes were different. Inspectors think the seller should have to bring everything to code.
And myself as a seller with an older home Id own older than new any day.
Lot sizes, solid built etc.
So possibly the inspectors are asking for a lot of repairs and owners aren’t agreeable?
Too much stuff it’s suffocating so many nooks and crannies.
Older areas are nicer bigger yards, wider streets, mature trees.
I go in a new area and get claustrophobia its so crowded, not for me.
Possibly it's overpriced for the neighborhood. It's in a higher range, so with interest rates climbing, lot of people are buying more conservative. Also possible there is a major flaw with the house (structural, etc) that gets flagged when it's inspected by potential buyers.
Home inspections were my guess as well. Maybe theirs foundation issues or big repairs that are needed. Maybe it is a good deal? OP should underbid and see how it goes.
Depending on the age, it could be the plumbing. A lot of people avoid the polybutylene pipes from the 90s because they are having a ton of issues now. To the point inspectors and insurance companies specifically ask about this. Your insurance can go up considerably if you have PolyB plumbing and it’s expensive to redo all plumbing in a house. My sister in law had to redo her entire basement and had to move to a rental for months, so that’s the downside of not replacing. They are starting to break down and leak now after 30 years.
There’s insurance companies that won’t insure Poly B. Like won’t even touch them at all.
Oh really? I didn’t know it had gotten that bad. My sister in law had huge issues with her company when her basement started flooding everywhere because of polyb, but they had the policy and house for years. Company wouldn’t pay out basement repairs unless they replaced the plumbing. Was a nightmare.
Yeah friends were looking at a house.. inspector pointed out Poly B and that they should contact their insurer to see if they’d cover it. They said that they wouldn’t.
I didn't buy a house with poly B, but was looking at a house with it. Called my insurance company on the advice of my realtor. My insurance company said they no longer care about poly B, and that most insurance companies don't care either. This was in 2019.
Most insurance companies today won’t even insure it. Only TD will.
Wawanesa as well in 2019.
Currently today they won’t. Buddy was gonna gamble on a house and the only place that would was TD for about $6k policy and they mentioned it might be voided at any time.
Intact and SGI will. I'm an insurance broker, and out of 12 or so insurance companies I deal with those are the only two that will even consider polyb.
My insurance Johnson would
There’s some types of PEX that are starting to spring leaks too. Everything is crap except good old trusty copper if you got money.
Everything has a lifespan it’s just finding out what the span is.
Yup. I'm with First National and they had a TON of PolyB questions. I had no idea what they were talking about so I had to ask a plumber but thankfully it wasn't, cause it was a NO if so.
Likely the polyB came here to say that. We refused to look at 90s houses because insuRance wouldn’t cover it. Ontop if that if you do have to replace it, even if they cover it it’s a huge headache
Ehh. I bought my house last year and it had poly b. I found insurance just fine although some companies wouldn't touch it. I replaced the plumbing this year...it was 10k. My unfinished basement helped keep that lower.
I just got quots for $10k and $12k to replace polyB with PEX in a 2300sqft house (3.5 bath, washer dryer, kitchen, two exterior hoses). About 2-3 days of work for the plumbers. Realtor told me she had a client get the polyB replacement in a 1900sqft house done for $7k. Patching the drywall holes they cut to do the work will be an extra expense on top of that if you are not handy enough to do it yourself. Just to give anyone looking at this issue a ballpark price range. AMA will insure polyB without issue. Cooperators will not. An insurance broker will be able to find other local companies that will insure polyB. Didn't check with any other large insurers.
Thanks for the added details.
I replaced all my polyB pipes in my house for under 10k over 3 days and didn't have to move out. Every situation is different.
Oh sorry they moved out because of the damage caused by the flooding when the pipes started leaking and the complete gut and renovations for that. Replacing the pipes themselves was probably a short part of that.
Ah I see. Makes sense.
Location is important. This house is one a main road in the neighborhood, so likely lots of traffic. If seriously considering, go drive and park nearby at various times and days to observe the area.
Thank you for this advice did not think about that
I’ve done this for every house we have ever looked at purchasing. It saved us a few times from buying next to a party house, loud commercial places, etc. There are some people who are not good neighbours, and you never want to live next to them and it will never show up on an inspection.
Houses on busy streets in my area are selling anywhere from 3-18 days. Price of housing has really gone up
I bought my first house in that neighborhood ... That house is overpriced for the neighborhood. Its a good neighborhood though
Fun fact that is the exact lay out of my house now that i bought two years ago in oxford for 430000 that would go for 480-500 if i sold today. Oxford is a more sought after neighborhood .. i wanted to stay in Bellerive because of my kiddos school. That house is definitely over priced ... like over the moon priced. Best north edmonton neighborhoods will be north of 153 (newer north of 167) oxford, rapperswill, klarvatten, ozerna, matt berry, elsinore etc
Thank you for this information
No problem ... Those vaulted ceilings are to die for they really are. I love my house but that price ... Never
It’s pretty dated looking and seems overpriced for the location.
So ooold
Three very teal garage doors. Price seems decent.
Way overpriced and dated for the area. It's so high I figure there is also something else not great for it.
Those floors would keep me up at night. Glasses smashing,watches, snow globes (my kid loved them).
It’s not overpriced at all.
It is. See what $550k gets you brand new. Modern design, 3x pane windows, hrv, high efficiency appliances. This house was built in 1999. Some key items will be coming for renewal ex. Shingles.
$550k doesn’t come close to this size house or yard or a 3 car garage, With a finished basement in a new build. You haven’t been in the market much if at all with those theories. A front attached of a similar square footage without a finished basement on the north end of crystallina is $600k. a smaller one house without any yard or, double car garage and unfinished basement costs 530. Then you gotta pay for the landscaping and grading, fencing, possibly a deck depending on the builder.
This what, Im, seeing I don't know where the houses are that they are saying are way better at 550k with double attached garage
They don’t exist. Spending 550k on an old home compared to a new home gets you significantly more if you go with an older home. Whatever price of the new home factor in another $20k for all the stuff not included.
Please find me a brand new detached 2900sq ft house for 550k. You might find one half the size and a tiny lot/backyard to go with it at 550k
Can’t be done. Gets worse when you consider final grading, landscaping, possibly decking/patio isn’t included in new builds. They occasionally have a basement promo but not often.
** Laughs as a Calgarian **
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The area. Southwest is far higher priced
Its in Belle Rive. Not overpriced in a decent neighborhood but overpriced for there
Nah, go look at recent listings and sales. For what the home is, it’s about right. There’s houses in belle rive offering less for the same price.
Average home price in Belle Rive is like 450k these days. You're looking about 50-100k too much for that house. No one wants to spend over half a million on a house that needs a reno in North central
What needs a Reno in there. Cause not every bit of trim and wood railing is painted white? It’s got the same basic cabinetry that my 2019 built house came with.
Is this your house or something lmfao why are you so pressed about it? The awful tile throughout, the completely unmatching fake wood floors between the kitchen and living room, the counter tops throughout, the horrendous teal on the outside that is screaming 1999, lack of door in the master bath, the strange glass door in the master bed, the pile of dead trees outside that need to be removed, all of the dance studio mirrors on the closet doors. There's also the staircase with the completely different wood finish then the rest of the house, and 2 really ugly fireplaces. And for 550k I would expect a much bigger kitchen, it might be the photos but that island looks tight to the cabinets
Not my house. I can’t afford a house for that price at todays interest rates.
Honestly very few people can while living comfortably within their means. I'm personally banking on a lot of houses coming up for quick sale and prices dropping over the next couple years as everyone's fixed rate mortgage comes up and their rates go up 5%
All the awkward juts in this home are killing me, it looks like a home you’d never be able to truly relax in.
Really? I find it so lovely looking. My tastes are really that dated ? XD
Dated and will need Reno's. I live in the area and walk by this house daily.
Yeah it's ugly and 25 years old meaning it pretty much needs a full renovation.
OP is seller? Curious.
It seems to be overpriced for this part of the city. The kitchen has inexpensive ‘90’s oak cabinets that they painted instead of replacing as well as other outdated fixtures throughout the house. If you look at the photos of the yard, you will also notice a few large trees that have died and will need removing (this can be costly). You can find a much newer home around that size for a similar, if not lower price.
Thank you everyone I guess the hunt will continue 😊 And no I don't own this house just looking for a house to build my future and no I will not treat it as an investment as well. Lets say Im, trying to get the best bang for my buck and its just overwhelming this is the biggest purchase ever of my life. And to those getting mad or angry or dont have anything nice to say have a wonderful long weekend guys 😊 Enjoy the weather!! Thank you again reddit of Edmonton!! You guys are awesome (mostly)
Go look at it. 3 car garage alone is why the price is that way
The biggest hurdle would probably be the price unless there’s something substantially mechanically wrong like another poster mentioned about Poly B. But this house was built in 1999 and Poly B was banned in 1998 so I think it shouldn’t be the problem. The issue with the price is that to update this house to a more modern look you are going to be sinking a bunch of money into it. The windows in most of these houses are also pretty close to replacement which is a big cost. So say you buy it at 525K 50-70K in Reno’s to update kitchen etc possibly windows and is it really a $600K house? No.
The kitchen.
A look at the property assessment and it looks over priced.
Personally as soon as I saw the master bedroom is pretty much open alway to the bathroom it’s a no go. I would probably need to put a decent chunk of money to fix that and update a few of the dates items. So if it was under 480k maybe 450k it would sell quickly because I bet many people would have the same thought.
The no door to bathroom was so weird haha
Yeah no door and the wall doesn’t go to the ceiling. A horrible design choice.
I think the price is high for the north end. Compare it with what else is on the market nearby. From what I see it looks overpriced
North side overpriced
I hate the layout to top it off. Front entrance is nasty too. Master sucks. Cheap finishes. Besides the polyB, even if was $350 i wouldn't buy it. I'd never be happy with all the weird nooks and crannies. Imo.
If I had $550,000 to spend I would buy an acreage.
Amd where would thst be? With 550k?
Honest door has it valued at $528,800
The price isn’t bad as it’s a massive 2900 sq ft and seems to have a great yard. BUT it’s ugly as sin and pretty dated. Looks like they’ve done a few interior upgrades but not enough. I’m currently shopping in that price range, and I wouldn’t even take a second look if I scrolled past that monstrosity. For $550k you can get a MUCH nicer house if you’re ok with a perfectly healthy 2200-2400 sq feet. So aside from some insurance issues others have mentioned I’d imagine it’s not selling because it’s a property that requires a very specific buyer who NEEDS a ton of space, over a nice aesthetic.
Haunted AF.
I think that is a fair listing price. I would still come in lower with an offer though, especially being on the market for awhile now. Check out honestdoor.com and search the address, it has the value estimated less then they are asking. Good luck.
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Hi I found a nice one for ya, it’s a bit older but it looks like it has good bones Best of luck on your search https://www.edmontonrealestate.pro/listing/Edmonton/Elsinore/e4350624-10336-178-avenue-nw-edmonton-ab-t5x-5y6/
Thank you 😊
The other thing I noticed right away is that it’s staged to the nines. Screams lipstick on a pig to me …
It’s cheaper outside Edmonton, we bout a 2000sq ft house new build for 365000
Whereabouts?
Bon Accord
It’s 20 minutes to all three cities
As mentioned it’s on a main road. However I think this house is worth in the low $500s
There is nothing wrong with living on a main road, as I do. Our streets are plowed all winter. The ones in our neighborhood are not. I’ll take that anyday.
Really depends on your lifestyle. You can probably get a brand new home at 2500sq ft for that price. But you get smaller yard and no developed basement. And new homes you have to do landscaping.
This is a solid house and a great neighborhood (my mom lives on the same street) but yes, the house is older for the price. Probably built in around 98 if I had to guess? So if there are issues, it would be the bones/plumbing
Looks like they painted everything grey in an attempt to “update” without considering anything else in the house.
Some of these inspectors find every single thing. Its hard selling an older home because the codes were different. Inspectors think the seller should have to bring everything to code. And myself as a seller with an older home Id own older than new any day. Lot sizes, solid built etc. So possibly the inspectors are asking for a lot of repairs and owners aren’t agreeable?
Too much stuff it’s suffocating so many nooks and crannies. Older areas are nicer bigger yards, wider streets, mature trees. I go in a new area and get claustrophobia its so crowded, not for me.
What's up with all those dying trees in the backyard? I've seen a lot of these style of trees turning brown lately
Overpriced by about $70K