The Weekly Drop – July 16, 2012

Here are the 20 properties that dropped their price the previous week AND have dropped the largest percentage overall from their original asking price.  Here are some highlights:

• It wasn’t that many weeks ago when a 20% cumulative drop would have you in the top 10 and two weeks ago a record was broken – we had 20 listings hit a 20% drop during that week.  This week that number was 28 listings with a 20%+ cumulative drop and 12 listings with a 25%+ drop
• The breakdown by region includes 3 in Vancouver West, 3 in White Rock / South Surrey, 2 in Maple Ridge, 2 in Mission, 2 in Abbotsford and 2 in New Westminster
• 8 of the 18 properties with valid assessment information are now listed below assessment, 5 of those 20% or more below assessment
• 7 of the 8 properties listed below assessment were originally listed above assessment – the only exception was originally listed $400 below assessment
• 13 single family homes, 6 apartments and 1 development plot
• The #2 and #3 listings are quite interesting, comments below

---

#1) Address:12320 AINSWORTH ST, Stave Falls, Mission

March 09	F1200684	$1,575,000	$0	0%
March 24	F1200684	$1,299,000	$-276,000	-18%
June 14	F1200684	$1,149,000	$-426,000	-27%
July 10	F1200684	removed
July 12	F1217839	$949,900	$-625,100	-40%

Assessment: $837,000

True luxury is custom made. Raise your family out in God’s Country or purchase as a small resort/retreat/conference centre. Situated at the top elevation of the property, this post and beam home incorporates local trees, slate floors, heated floors and open beams floor to ceiling

---

#2) Address:# 2601 1499 W PENDER ST, Coal Harbour, Vancouver West

March 09	V918446	$2,680,000	$0	0%
April 17	V918446	$1,900,000	$-780,000	-29%
July 09	V918446	removed
July 12	V961484	$1,770,000	$-910,000	-34%
Open House: Jul 12

Back in April it dropped the price by 780K (29%) and almost $400K below assessment for a quick sale…  except that never materialized…  Now it has dropped another $130K to come in at number 2 spot

Assessment: $2,289,000

Amazing value at West Pender Place – Coal Harbour’s latest signature address. Prestigious sub-penthouse priced to sell, inclusive of NET HST. This is well below assessed value. This exquisite 2 & Den designed by Alda Pereira is fitted out with Italian Dada kitchen systems and Gaggeneau/SubZero appliances. Fluid floor plan with large living areas, grande foyer, spacious den, 2.5 baths, floor-to-ceiling windows and stunning views of Northshore mountains, Marina and City lights. Only two homes per floor. Wide-plank hardwood flooring throughout, exceptional finishings and detail. Air-conditioning, 24-hours concierge, guest suite and indoor pool. Balance of 2-5-10 Year Warranty. Act now! PUBLIC OPEN: Thursday July 12th, 5:00-6:30 PM.

---

#3) Address:6140 MARA CR, Granville, Richmond

March 09	V931950	$1,938,000	$0	0%
March 20	V931950	removed
March 22	V938480	$1,879,000	$-59,000	-3%
April 03	V938480	removed
April 25	V945428	$1,897,000	$-41,000	-2%
May 23	V945428	$1,879,000	$-59,000	-3%
June 04	V945428	removed
June 07	V954888	$1,719,000	$-219,000	-11%
June 14	V954888	removed
June 21	V957754	$1,299,000	$-639,000	-33%
Open House: Jun 23, 24
July 13	V957754	$1,298,000	$-640,000	-33%

This one is great.  New home listed for a very long time in the just under $2 million range gets a new realtor who has made our list before.  His strategy is setting the price at incredibly low levels to generate bidding wars but this listing price was set over 3 weeks ago though…  The description says that financing fell through which is eventful in itself and I’ll take that for face value but what about the backup offer or should I say the lack of one?  This undercutting strategy is a great accelerator in a rapidly depressing market when it fails as it did here and on many other listings on these weekly drop lists

Assessment: Building Unfinished at time of Assessment

This 5 bedroom home boasts 6 bathrooms, theatre room, enclosed patio & a grand entrance. It features include 120 inch projector & screen in media room, crystal chandeliers, A/C & HRV, Bosch appls, 10′ ceilings. This custom home has a very unique, functional floor plan. The master features a double jacuzzi & a steam shower with multiple shower heads. A gorgeous home built by reputable builder Heritage Lane HOmes with 2-5-10 yr warranty is a must see. Burnett & Brighouse are the schools in the area. At this price it will not last long, pls call LS now to book your viewing or come Sat or Sun to our Open House. Last accepted offer did not remove financing subjects. All offers presented on Sunday after open house

---

#4) Address:31834 BENCH AV, Mission BC, Mission

March 09	F1118831	$1,150,000	$0	0%
June 13	F1118831	removed
June 14	F1215554	$829,900	$-320,100	-28%
July 12	F1215554	$799,900	$-350,100	-30%

Assessment: $758,000

Stunning mountain and valley views, this Mission home is situated high on a hill in a super quiet neighborhood of exclusive properties and Mission Golf & Country Club. Lots of house here with over 5300 sqft, 8 bdrms, 7 bathrms plus office with separate entrance, perfect for home based business! Triple car garage, spice kitchen, huge covered (3) sundecks are a few of the many extras in this home. Fabulous layout with great room, huge kitchen perfect for entertaining and loads of window for the amazing views. There is room for everyone here, very unique home!

---

#5) Address:# 109 32025 TIMS AV, Abbotsford West, Abbotsford

June 14	F1215497	$109,900	$0	0%
June 23	F1215497	$99,900	$-10,000	-9%
July 02	F1215497	$84,900	$-25,000	-23%
July 14	F1215497	$79,900	$-30,000	-27%

Assessment: $104,800

Affordable, clean 2 bdrm condo, close to everything shopping, seniors center, medical, church and public transit, newer stove, fridge and laminate flooring, enclosed patio with 5 x 5 storage area plus locker downstairs, quiet side of the building, amenities include workshop, meeting room with kitchen and exercise area, strata fee includes heat, hot water and electricity, low taxes, 55+, no rentals and no pets, new roof coming assessment already paid for.

---

#6) Address:27752 MONTESINA AV, Aberdeen, Abbotsford

May 25	F1213526	$2,750,000	$0	0%
July 12	F1213526	$2,000,000	$-750,000	-27%

Assessment: $941,000

Stunning 5487 sqft, 4 yr old Log Home with breathtaking views set on 5 acres. This worry free home has it all, including granite countertops, stainless appliances, continuous hotwater, heat pump, central air, two car garage, beautiful deck off master, a full size pool table stays in the games room, a pond, even the dog has its own water! Nevery worry about being without power as this home has it own generating system. Two detached workshops (27×52 and 25×70), one with overhead crane. This home needs nothing as the current owner recently had everything cleaned and tested. Make this home yours today!

---

#7) Address:13799 20TH AV, Elgin Chantrell, White Rock

March 09	F1128278	$1,165,000	$0	0%
May 04	F1128278	removed
May 16	F1212743	$999,900	$-165,100	-14%
June 06	F1212743	$950,000	$-215,000	-18%
Open House: Jun 10
June 30	F1212743	removed
July 11	F1217909	$859,000	$-306,000	-26%

Assessment: $891,000

Chantrell Park, over 19,000 sqft lot in pristine area. Home is over 3300 sqft with extensive updates throughout, hardwood flooring, newer kitchen, private back deck with huge private yard. Detached garage is 24×32. Quick possession possible, live comfortable now and build later? Or enjoy this updated home on this rarely available lot.

---

#8) Address:# 405 22290 NORTH AV, West Central, Maple Ridge

March 23	V938841	$199,000	$0	0%
March 31	V938841	$189,000	$-10,000	-5%
April 05	V938841	$179,000	$-20,000	-10%
April 14	V938841	$174,000	$-25,000	-13%
April 24	V938841	$169,000	$-30,000	-15%
June 09	V938841	$165,000	$-34,000	-17%
June 23	V938841	$160,000	$-39,000	-20%
July 12	V938841	$150,000	$-49,000	-25%

Assessment: $186,000

BLOWOUT SALE. BELOW B.C.ASSESSMENT ($186,000). Amazing one bedroom unit in immaculate condition at the highest level of SOLO building. This unit shows so well that it is hard to guess it has ever been occupied. It comes with an oversized balcony facing East for the best of the morning sunrise. It boasts beautiful tile and high end laminate flooring, Granite countertop, Whirlpool stainless seel appliances, Built-in Microwave, high vaulted ceiling, … Just a 5 minute short walk to the West Coast Express and the Haney Wharf. Walk distance to Maple Ridge Centre for restaurants, recreation facilities and lots of shopping. ORIGINALLY SOLD FOR $214,900.

---

#9) Address:2404 MATHERS AV, Dundarave, West Vancouver

March 29	V939748	$1,798,000	$0	0%
April 13	V939748	$1,698,000	$-100,000	-6%
May 01	V939748	removed
May 03	V947249	$1,598,000	$-200,000	-11%
Open House: Jun 17, 24
July 09	V947249	removed
July 11	V961286	$1,349,000	$-449,000	-25%
Open House: Jul 15

Assessment: $1,387,200

Ideally situated, mainly flat prime Dundarave property measuring 122 ft x 66 ft lot with lane access. Peek-a-boo views from the upper floor with the possibility to improve. Just 2 blocks to Irwin Park and close to Dundarave shops, beach and the seawall.

---

#10) Address:# 1901 1250 QUAYSIDE DR, Quay, New Westminster

April 14	V943137	$999,000	$0	0%
April 24	V943137	$899,000	$-100,000	-10%
May 05	V943137	$850,000	$-149,000	-15%
May 19	V943137	$788,000	$-211,000	-21%
July 09	V943137	removed
July 12	V961471	$749,000	$-250,000	-25%

Assessment: $665,000

WOW! 3425 sq ft, 2 level Penthouse on the Water. Possibly the best spot in the Quay & unlimited views. This spotless 1 owner home is very special. Impressive entrance from spiral staircase, to Grand rooms this one of a kind home very rarely comes available. Loads of windows, doors & balconies to enjoy sunsets and bbq’s. Enjoy entertaining in the lrg Living/Dining Rooms, fabulous Family room w/BI Cabinets and Gas FP. 2 Kitchens, Massive Mstr Bedrm, WI closet, Spa bathroom, Skylights, A/C. Gorgeous drapes & shears throughout. To top it off, this is an amazing building with healthy contingency & pro-active council. The building was rainscreened/03, new roof/11, boiler/11, plumbing/07, pkg membrane/11. Tons of BI storage, 2 Pkg. “10”

---

#11) Address:12498 232ND ST, East Central, Maple Ridge

March 09	V917886	$1,298,000	$0	0%
June 06	V917886	$1,095,000	$-203,000	-16%
July 11	V917886	$975,500	$-322,500	-25%

Assessment: $697,000

Build your family dream home with pristine, panoramic meadow and mountain views and a rural setting yet close to downtown Maple Ridge. Very Private. Add a “modular” guest home. Zoning permits hobby farm and/or agri-business such as garden centres, green houses,kennels etc. Municipal services on 5.73 acre site. Must be seen. Call today for your information brochure.

---

#12) Address:# 1701 3070 GUILDFORD WY, North Coquitlam, Coquitlam

May 31	V953486	$358,000	$0	0%
Open House: Jun 02
June 08	V953486	$338,000	$-20,000	-6%
Open House: Jun 09
June 26	V953486	$300,000	$-58,000	-16%
Open House: Jun 30
Open House: Jul 01, 07
July 10	V953486	$270,000	$-88,000	-25%

Assessment: $334,000

Bright 2 bedrooms apartment with 180 degree incredible views! South facing master bedroom has a huge balcony. Walking distance to Coquitlam Centre, Lafarge Lake, park, Town Centre, recreation centre, library, Douglas College and Pinetree Secondary School. Indoor pool, spa, sauna and gym. Easy to show. Just one block to future evergreen skytrain station. Strata fee include gas, cable and hot water. Must not miss. Great opportunity!

---

#13) Address:1607 W 64TH AV, South Granville, Vancouver West

March 10	V936292	$1,688,000	$0	0%
March 22	V936292	$1,588,000	$-100,000	-6%
April 19	V936292	$1,528,000	$-160,000	-9%
May 17	V936292	$1,479,000	$-209,000	-12%
Open House: May 20, 27
Open House: Jun 03
June 07	V936292	$1,398,000	$-290,000	-17%
Open House: Jun 10
June 11	V936292	removed
Open House: Jun 17, 24
Open House: Jul 01
July 12	V956474	$1,298,000	$-390,000	-23%

Assessment: $1,107,600

BEST PRICE EVER!!! Beautifully renovated to consider the modern family. This designer contemporary home features 5 beds, 3 baths & new gourmet kitchen with Bosch appliances and quartz countertops. Solid oak hardwood throughout main floor. 2 marble fireplaces, all new plumbing and electrical. Located in a wonderful family neighbourhood. Close to McKechnie Elementary and Magee High School. Note: possible 2 bedroom suite with roughed in kitchen & laundry.

---

#14) Address:1909 TRAFALGAR ST, Kitsilano, Vancouver West

March 09	V931179	$1,880,000	$0	0%
March 13	V931179	$1,790,000	$-90,000	-5%
March 26	V931179	removed
April 18	V940272	$1,688,000	$-192,000	-10%
May 18	V940272	$1,628,900	$-251,100	-13%
Open House: May 19, 26
Open House: Jun 02
June 13	V940272	$1,574,500	$-305,500	-16%
Open House: Jun 21, 24
June 23	V940272	$1,499,000	$-381,000	-20%
Open House: Jun 26
Open House: Jul 07
July 14	V940272	$1,449,900	$-430,100	-23%
Open House: Jul 14

Assessment: $1,208,800

Legal Duplex Home w/ Three (3) Suites has been Meticulously maintained & Upgraded. Improvements too numerous to list, incl Major Compontents, drain tiles to roof, wiring, plumbing, furnace, h/w tanks (2) etc. Each suite has own bike/storage locker.The Top Suite: 2 Bdrm & Den on 2 levels / incl private balcony (w/ Water & Mountain Views) & fireplace. The Main floor: 1 Bdrm & Den w/ X-Large Deck & Fireplace. Third Suite: 2 Bdrm Garden Level (Above Ground). This is a ’10’ for the savvy INVESTOR Excellent Revenue Over $5,000 per mth. Great Tenants! A truly rare find. Steps to the Beach, Transit to Downtown & University, Shops & Resutrants Too. Call Lisa for Pixilink Floorplans & Brochure with Full Details. Open House Saturday July 14th 2:00 – 4:00 pm.

---

#15) Address:24187 60TH AV, Salmon River, Langley

April 28	F1210996	$1,098,800	$0	0%
May 15	F1210996	$998,800	$-100,000	-9%
June 14	F1210996	$898,900	$-199,900	-18%
July 12	F1210996	$849,900	$-248,900	-23%

Assessment: $688,000

TOTAL PRIVACY! Wonderful rancher with loft and wrap around veranda located at the end of a no-thru road. Private parklike acre. Fantastic new 32×28 heated & wired workshop with 220, 12′ & 10′ doors. Additional 30×20 shop finished into games room/office. New roof, hardwood floors, crown moldings. Spacious living room with gas fireplace and adjoining dining room. Oak kitchen with pantry & carousel window eating area. Family room with gas heatilator fireplace and sliders. 2 bedrooms on main – Master bedroom with walk-in closet, sitting area with sliders + ensuite with double sinks, tub with shower and a 2nd separate shower. 2 additional bedrooms upstairs. Large multi-tiered patio, gazebo, lawns, garden & shallow ravine. Call today!

---

#16) Address:1797 FIR RD, Agassiz, Kent

March 09	H1102806	$1,160,000	$0	0%
May 09	H1102806	$949,900	$-210,100	-18%
July 11	H1102806	$899,000	$-261,000	-23%

Assessment: $297,968 (Farm land – value set by BC Regulation 411/95)

See Media Link: Escape to paradise in your own private oasis. Gorgeous newly built home complete with amazing views, tranquil gardens, expansive decks, koi pond and teahouse. Vaulted entrance, grand kitchen, granite, w/i pantry. Open concept, crown moulding, heated tile & hardwood throughout. Deluxe ensuite, & w/i closet. Huge bonus room, second kitchen, oversized garage, shop, 3 barns, round pen, hay, pasture and fruit trees. This home is in a country setting but still close to all amenities, golf, lake and ski. Perfect for B&B, spa, weddings, social gatherings, dude ranch or just peaceful retirement with the grandkids.

---

#17) Address:3577 ROSEMARY HEIGHTS CR, Morgan Creek, White Rock

March 29	F1207805	$1,015,000	$0	0%
April 13	F1207805	$998,000	$-17,000	-2%
May 09	F1207805	$899,800	$-115,200	-11%
May 28	F1207805	removed
Open House: Jun 03
June 01	F1213906	$828,000	$-187,000	-18%
Open House: Jun 03, 10, 16, 30
June 30	F1213906	$800,000	$-215,000	-21%
Open House: Jul 07, 08, 14
July 12	F1213906	$789,900	$-225,100	-22%

Assessment: $808,000

Gorgeous 1 owner “Rose Monde” model by Foxridge Homes, located in the beautiful Rosemary Heights subdivision. This well appointed luxury home greets you w/soaring ceilings in a bright, open plan. Numerous upgrades includ. hardwood flooring & custom trim. Fabulous kitchen layout features maple cabinetry, granite countertops, all new stainless appliances, & breakfast nook. Relax in your inviting family room w/gas fireplace & half bath. Upstairs is a spacious Master with ensuite & wall-in closet, plus laundry, 2 more bdrms and full bath. Finished basement w/separate entry has 4th bdrm w/ensuite, storage, generous size game/media room. PRICED TO SELL. NOW $18,100 BELOW ASSESSED VALUE. BETTER HURRY.

---

#18) Address:# 401 428 AGNES ST, Downtown, New Westminster

May 18	V950795	$229,000	$0	0%
May 29	V950795	$209,000	$-20,000	-9%
June 23	V950795	$199,000	$-30,000	-13%
July 13	V950795	$179,000	$-50,000	-22%

Assessment: $229,400

SHANLEY MANOR. Top floor corner apt, good condition, 2 spacious bedrooms. LR opens to West exposed sundeck. Building in good condition with almost new roof. Prime location, quiet street, walk to all shops and Skytrain. Call L/S for full details. Maintenance fee includes heat and hot water (to be confirmed by Strata documents).

---

#19) Address:3158 PRINCESS AV, Princess Park, North Vancouver

May 04	V947641	$1,188,000	$0	0%
Open House: May 20
May 23	V947641	$998,000	$-190,000	-16%
Open House: May 27
June 22	V947641	$958,000	$-230,000	-19%
July 14	V947641	$938,000	$-250,000	-21%

Assessment: $849,900

Solid two storey with nice curb appeal located in a family friendly neighbourhood with a panoramic view of Lynn Valley from the rear deck. Large manicured lot. Original owners. Needs some TLC but can be a wonderful family home with carport, outside storage attached to the carport and workshop in the basement area. Call for a viewing at your convenience.

---

#20) Address:14172 MARINE DR, White Rock, White Rock

May 15	F1212612	$2,138,000	$0	0%
May 29	F1212612	$1,988,000	$-150,000	-7%
June 07	F1212612	$1,778,000	$-360,000	-17%
Open House: Jun 16, 23
July 03	F1212612	removed
July 12	F1218092	$1,695,000	$-443,000	-21%

Assessment: $1,474,300

Own a Piece of the Bluff, w/ absolutely stunning south facing OCEAN VIEWS. Located on prestigious Marine Drive, White Rock, this funky home offers a lifestyle of peace, tranquility, & convenience, w/ room to entertain & watch nature’s artistry. Entering through secure gates, character oozes from this fun family home. Slate flooring greets you at the generous entrance, & solid hardwood leads you through the main level w/ tons of light & open concept. The stunning wood burning fireplace is the focal point in the well proportioned living/ dining rooms, & the kitchen offers granite counters, gas range, & room to work. Numerous patios, decks, and landings, AND direct waterfront access through your private path.