Real Estate: Upsizing

September 1, 2009

The seller: Karen Fraser, 38, a flight attendant; Kevin Fraser, 40, who works as a sales executive for a building-materials company; and their kids Elliah, Austin, and Arianna (plus Cody the dog and Leo the cat). The couple bought this 1953 bungalow at 7616 Arbutus St. in 2002 for $521,000. They renovated the basement, adding two bedrooms (for a total of five), but felt short on space.

The realtors: Marty Pospischil, Dexter Associates Realty
The strategy: Pospischil called everyone who had looked into three similar West Side homes he’d recently sold, about 480 people total. His office hand-delivered a feature sheet to every West Side realtor, and dropped "Just Listed" postcards to mailboxes in Kerrisdale and Southlands. Asking price: $1.198 million.
The sell: The first four days were devoted to marketing. On the fifth, they hosted an open house and got one offer. On the sixth day, Pospischil called all open-house visitors and generated three offers. That night, the property sold for $1.26 million. Popsichil’s advice to sellers? Heed the hot pockets. “If you’re able to sell in one of the hot pockets, like this one, and then buy in a neighbourhood that’s not so hot, your upgrade cost is zero and you could even net some equity. The Frasers did this perfectly.”

Get the Newsletter

Own your city with Vancouver’s thrice-weekly scoop on the latest restaurant news, must-shop hotspots and can’t miss events. Rest assured your email is safe with us.