A West Vancouver mansion that has housed Hollywood A-listers is up for sale for $17.8 million.
The 16,000-square-foot mansion at 2929 Mathers Ave. hit the market last November.
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Originally built in 1993 in a southern colonial style, the ‘White House’ — as it was dubbed by a rental marketing agency — bears a similarity to the Washington, D.C., landmark because of its facade. It’s about 3 1/2 times smaller but luxuriously large for a private home in Metro Vancouver.
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The house, which sits on a one-acre estate, has 10 bedrooms, two kitchens, a bowling alley, outdoor pool, an arcade room with video games and a custom-built aquarium.
There’s also a curving glass wine wall that can hold 1,500 bottles, a wood-fired pizza oven and a six-car garage with its own bar.
Photo credit: The Partners Real EstatePhoto by The Partners Real Estate Photo credit: The Partners Real EstatePhoto by The Partners Real Estate Photo credit: The Partners Real EstatePhoto by The Partners Real Estate Photo credit: The Partners Real EstatePhoto by The Partners Real Estate Photo credit: The Partners Real EstatePhoto by The Partners Real Estate
The house was substantially renovated in 2012 by a West Van builder.
At the time, the owner also added a 6,000-sq.-ft. extension that boasts three additional bedrooms and lots of entertaining dream spaces, inspired by his work in the boutique hotel industry.
“He wanted to develop something for his family and friends, that they could always come and celebrate different types of occasions in the home, whether it’s weddings, baptisms, bridal parties,” said listing agent Derek Grech of The Partners Real Estate.
Photo credit: The Partners Real Estate Photo credit: The Partners Real EstatePhoto by The Partners Real Estate
While the house was a family home — the owner raised three daughters in the home — nowadays it’s often rented out because the owner travels often for his work, said Grech.
Both Sandra Bullock and J. Lo. have reportedly stayed in the house.
The house has been on the market for about 90 days. Interest has been “amazing,” surpassing inquiries for less expensive listings in the $2-million-to-$5-million range, said Grech.
“It’s a bit schizophrenic,” he said of the market, which seems to be active under $2.5 million and over $10 million.
Interested buyers ran the gamut of ages and backgrounds, but the common thread is that they’re keen entertainers, said Grech.
“They like the idea behind the house. It’s very grand, very imperial.”
Photo credit: The Partners Real EstatePhoto by The Partners Real Estate Photo credit: The Partners Real EstatePhoto by The Partners Real Estate
TORONTO – One expert predicts Ottawa‘s changes to mortgage rules will help spur demand among potential homebuyers but says policies aimed at driving new supply are needed to address the “core issues” facing the market.
The federal government’s changes, set to come into force mid-December, include a higher price cap for insured mortgages to allow more people to qualify for a mortgage with less than a 20 per cent down payment.
The government will also expand its 30-year mortgage amortization to include first-time homebuyers buying any type of home, as well as anybody buying a newly built home.
CIBC Capital Markets deputy chief economist Benjamin Tal calls it a “significant” move likely to accelerate the recovery of the housing market, a process already underway as interest rates have begun to fall.
However, he says in a note that policymakers should aim to “prevent that from becoming too much of a good thing” through policies geared toward the supply side.
Tal says the main issue is the lack of supply available to respond to Canada’s rapidly increasing population, particularly in major cities.
This report by The Canadian Press was first published Sept. 17,2024.
OTTAWA – The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely stuck in a holding pattern despite borrowing costs beginning to come down.
The association says the number of homes sold in August fell 2.1 per cent compared with the same month last year.
On a seasonally adjusted month-over-month basis, national home sales edged up 1.3 per cent from July.
CREA senior economist Shaun Cathcart says that with forecasts of lower interest rates throughout the rest of this year and into 2025, “it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well behaved in most of the country.”
The national average sale price for August amounted to $649,100, a 0.1 per cent increase compared with a year earlier.
The number of newly listed properties was up 1.1 per cent month-over-month.
This report by The Canadian Press was first published Sept. 16, 2024.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
