Buy the Shaw mansion - unreserved auction!

[ExtraSlow]

I'm putting in a bid:
87859
https://www.cbc.ca/news/canada/calgary/102-crescent-road-nw-calgary-home-auction-1.5320038

[dj_rice]

Huge mansion like that and only a 3 car garage. Pfft I'll pass. With our money, I expected more.

[ExtraSlow]

Huge mansion like that and only a 3 car garage. Pfft I'll pass. With our money, I expected more.

It's a weird property hemmed in on all sides. But of you want somewhere less then five minutes walk to downtown, it's pretty cool.

[muse017]

A $100,000 bidder deposit is required

Booo~ I'll pass

[killramos]

That place is super tasteful. Really nice.

[The_Rural_Juror]

Beyond Waffle?

[Manhattan]

So whats the over/under on this? The auction listing is bilingual - English and Chinese. Such a small TV in the theater room...

[Mitsu3000gt]

I lol'd at the bed weirdly pushed up against the window and the ~50" TV in the dedicated Home Theater room.

Aside from that....pretty amazing house in an amazing location.

[ExtraSlow]

Over under is set by me at 9.05 million. And I'm taking the under.

[TomcoPDR]

Over under is set by me at 9.05 million. And I'm taking the under.

Listed on MLS for $10,888,888 tho

[you&me]

Over under is set by me at 9.05 million. And I'm taking the under.

I think that's a really generous over-under bar...

2004 build with dated finishings
No architectural merit
Relatively small property
Relatively small principle rooms

Last sold in 2015 for $9mm (thanks, Honestdoor ;) ) - I don't think anyone would claim the market in Calgary has improved since then and the high end / $4mm+ market is especially dead for resale homes. At that price point, buyers will be extremely picky and I just can't see anyone tripping over themselves for that house, even with that view.

I'd be curious to hear any thoughts from the resident realtors, or what they think it'll go for.

[JRSC00LUDE]

3mm

[you&me]

That's better...

[ZenOps]

Was I the only one that expected a 300 foot LED tv.

[shakalaka]

A $100,000 bidder deposit is required

Booo~ I'll pass

Well that's shitty, what if someone wants to bid less than that - considering there's no reserve. lol.

[Kobe]

When is the action ending, i see it starts Nov 12th, is it just a 1 day thing?

Anyone want to set a number for a bet, and I take over or under for a small bet?

[ExtraSlow]

I'm already losing too much money on the oil production bets.

[Disoblige]

The 100k bid deposit is just that, a deposit no?
Whatever you do at the auction, even if you lose, you get that deposit back I thought.

It would be funny if this house went under 3 mill.

[Manhattan]

The 100k bid deposit is just that, a deposit no?
Whatever you do at the auction, even if you lose, you get that deposit back I thought.

It would be funny if this house went under 3 mill.

I'm sure there's plenty of realtors with deep pockets :cough cough: Jordan who will be watching closely in case something like that happens and bid the price up eventually.

[codyinyyc]

Bidding opens Nov. 12 and the home will sell to the highest bidder on Nov. 15.

My best guess is a $5.8M sale price. We will see!!

[v8killa]

Does anyone know what the home ended up selling for?

[hurrdurr]

Does anyone know what the home ended up selling for?


Bidding opens Nov. 12 and the home will sell to the highest bidder on Nov. 15.

My best guess is a $5.8M sale price. We will see!!

:|

[JordanLotoski]

Bidding opens Nov. 12 and the home will sell to the highest bidder on Nov. 15.

My best guess is a $5.8M sale price. We will see!!



I think that is close- Live high bid as of last night way 4.3

[nzwasp]

I think that is close- Live high bid as of last night way 4.3

Did you put a bid in?

[JordanLotoski]

Did you put a bid in?

No, I dont have 6m to spend on a home

[jwslam]

no, i dont have 6m to spend on that home
ftfy

[you&me]

I think that is close- Live high bid as of last night way 4.3

That's higher than I would have expected, considering what else is on the market in that price range.

Is there a way to see the current bidding?

[killramos]

Even if a 6M home was in the cards, hard pass on that place.

[you&me]

Where's $6mm coming from?

I saw Jordan's post that the current bid was $4.3...

I mean, it would be a hard pass at either price, but especially at $6 :rofl:

[Xtrema]

Where's $6mm coming from?

I saw Jordan's post that the current bid was $4.3...

I mean, it would be a hard pass at either price, but especially at $6 :rofl:

I think Jordan said $4.3M last night and may come close to the 5.8/6M estimate by EOD.

[Buster]

I'm surprised people don't like that house.

[killramos]

I'm surprised people don't like that house.

I do. Just not at that price.

[The_Rural_Juror]

Which one of you bozos topped my 4.25 bid?

[Maxt]

I did an a/c call there once when it was rented, nice tenant, stuck A Benjamin in my shirt pocket for a tip.

[you&me]

I just poked around on the auction company's website... Looks like it's a pending sale, but they don't report the final price until it closes.

Interestingly, it states the buyer fee paid the auction company is 12% and the seller will also pay any buyer's agent 2%... There's a lot of juice in this game.

[ExtraSlow]

I hope my bid wins! Can't wait!

[JordanLotoski]

Home sold at 6M (chatted with rep this afternoon)

[ThePenIsMightier]

Bidding opens Nov. 12 and the home will sell to the highest bidder on Nov. 15.

My best guess is a $5.8M sale price. We will see!!

Winner, winner! Chicken dinner!!!

[Buster]

They ate $5MM in depreciation since 2013? yowza.

[darthVWader]

They ate $5MM in depreciation since 2013? yowza.

Up goes the cable bill

[Xtrema]

They ate $5MM in depreciation since 2013? yowza.

https://www.honestdoor.com/property/102-crescent-road-nw-calgary-ab

Last sale had it at $9M. Still a $3M lost.

I wonder if they will add that 12% fee on top as the final sold price.

[Maxt]

They ate $5MM in depreciation since 2013? yowza.

Its a fixer upper.

[Kobe]

No, I dont have 6m to spend on a home

Thoughts on 6mill? Do you think that it's still overvalued? I assumed in the 4-4.9mill range but will sell around 5.5 (Overvalued)

If you are allowed to give your opinion, I think 9 Million was just way to much for that home, 6 mill seems a bit steep to me, but that land must have some value so I might be wrong..

[Disoblige]

6 mill seems like a lot for that house... But, it is a nice location if you want to be close to DT and have the view.
Nice though there was a buyer willing to pay 6 mill for that.

[ThePenIsMightier]

Am I Marth if I say they only paid $5.28MM because I believe the auction commission comes out of the sale price?
I think someone said it was 12%, no?

[dj_rice]

$6 million house at the corner at Crescent Road. Then 3 houses down at 610 Center Street A NW, you have this beat down house. How much is that house worth? HonestDoor says $629. Its beside 3 nice nice houses

[Xtrema]

Am I Marth if I say they only paid $5.28MM because I believe the auction commission comes out of the sale price?
I think someone said it was 12%, no?

That's not how auction works. Whoever bid $6M will have to pay $6.72M to close.

[you&me]

That's not how auction works. Whoever bid $6M will have to pay $6.72M to close.

Correct. The Buyer pays a 12% premium above the high bid and the seller may also pay a 2% commission to an agent that brings the winning bidder to the table. So, seller's net would be ~$5.88mm; buyer's total is $6.72mm


A friend that's redeveloping some properties along Crescent Road was pleasantly shocked at the result of the sale.

[Xtrema]

A friend that's redeveloping some properties along Crescent Road was pleasantly shocked at the result of the sale.

I think I don't want to be near center st when/if that greenline comes thru in whatever form it will be. All the exhaust from center st is bad enough already. If I'm paying that kind of money and wants downtown view, I would rather be near 4th/5th/6th St. as possible, away from major arteries.