Housing News

“Twilight” Home Value Takes a Dip

The famed house still has no taker.

I might have overestimated by views on the “Twilight” home that we featured here last December 28. The latest update on the property reflects a longer selling period considering that its public exposure through the film was immense. My conclusion was, “We think that it could rack up its value now that it has been publicized by the broker. This is something that always holds true in the market. Had it been just another ordinary 5BR in the same location, it wouldn’t be much of a talk among us except for the wealthy investors who believe that it’s worth more than $3.14 million.”

Real estate website Move, Inc. recently gave us the status of the house, “In November, just as the second installment of the vampire love saga was entering theatres, the Cullen home, featured in Twilight-New Moon, was listed for $3.298 million. Today, it has also taken a loss and is currently listed for $2.999 million.”

But the 5,117 sq. ft. house dipped by another $1,000 according to Realtor.com which officially lists the place.

We suggest that if you want an single family 59-year old abode beaming with five bedrooms, 3 total bathrooms, three stories of well designed space, swimming pool, or in the words of Realtor.com itself, “room with 20′ ceilings, massive picture windows, sparkling O/D pool, stunning family/media (room) surrounded by walls of glass, priv studio, w/ Koi pond, concrete & slate (floors), gorgeous Chef’s kit, Cherry cabinets, granite counters & 4 (large bedrooms including) a luxurious master”, you better head off to West Vancouver, British Columbia and perhaps drop by at the Olympic Village too.

So is this the end of “movie star” houses then? Planit Real Estate Inc. states that among the 8 Most Critical Mistakes that You Can Make When Selling Your Home, limiting the market and exposure to the property counts. It writes, “Surprisingly, less that 1% of homes are sold at an open house. Agents use them to attract future prospects, not sell the house! Advertising studies show that less than 3% of people purchased their home because they responded to an ad. If a machine answers, most callers just hang up without leaving a message.” But if this is the case, then why’s the house still on the market today considering that even TMZ’s feature of the house last year was supposed to spur buyer activity?

Aside from the price, could it be that the Canadian real estate market is showing no mercy even to popular homes these days? What do you think?

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