Please note this proerty has sold since this blog was posted. Updated 12/28/10.

This month we are featuring a beautifully renovated classic oceanfront  home which was previously listed for over 1 million dollars and has now dropped to just $699, 000. This elegant and luxurious home is situated on 2.26 glently sloping acres (with a bonus 200ft of oceanfront!) and faces Baynes sound and the Beaufort mountains. In my opinion, this exposure is the nicest on the island as it offers afternoon sun and great sunsets as you look over the ocean.

This home is now in foreclosure and I believe it represents a great value for the high level of finishing, amount of waterfront and land that it offers.  Definitely worth a look! Click here for details.

One more house I just have to mention...As I was looking up the info to write this blog, I came across another great value on Denman. It does have an offer pending, but is worth a look at only $529, 000. It is oceanfront as well!

For more information on either of these properties, please click here to contact James Warner of RE/MAX The Islands.

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As you may have noticed, we have started our "Hot Properties" newsletter as of the last week January. This was the first of a quarterly series of newsletters designed to highlight some properties on our site that are of great value in the current market. Our last newsletter featured some properties that were recently reduced, whose sellers are motivated and even a high-end foreclosure near Kelowna. Click here to sign-up.

It seems as though others in the business are starting to see (and write about) some deals as well. In last weeks Facts by Email, Ozzie Jurock pointed out some developments that may be facing issues in the coming months. Among them are:

Although the units in the above mentioned developments may not yet be discounted, there is potential in the market for prices to start to adjust due to the overbuilding that began to take place towards the end of the last market high.

If you are looking for deals on our site, you can sort out the motivated sellers by doing an advanced search and selecting the "Motivated Seller" button at the bottom of the page.

Happy House Hunting!

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