Vancouver Price Drop

Documenting Vancouver real estate price movements

Monthly Archives: October 2012

Delta Spotlight – October 31, 2012

6 Comments Posted by an observer on October 31, 2012

It’s been a month so once again here are the top 10 properties currently listed in Ladner, Tsawwassen and North Delta with the largest overall drop in asking price since early March. No comments from me other than any unit sales in the case of a condo for these spotlights because it’s just too time consuming to read through everything when doing 13 spotlights

Some Highlights

It takes a 15% drop to make this top 10. Previous 4 months were 14%, 14%, 11% and 9%
3 of 9 listings are now below assessment

#10 ) Address:11672 64A AV, Sunshine Hills Woods, North Delta

April 14	F1209296	$788,000	$0	0%
May 15	F1209296	$749,000	$-39,000	-5%
August 17	F1209296	$709,000	$-79,000	-10%
September 20	F1209296	$695,000	$-93,000	-12%
September 26	F1209296	$680,000	$-108,000	-14%
October 26	F1209296	$670,000	$-118,000	-15%

Assessment: $538,100

RARE IN THE HILLS…HIGH END RENOVATIONS…Dream Kitchen, 6 Stainless appliances, granite, custom cabinets, large eating area & dining area. 2 entrances to large back deck and private fenced yard. MASTER has ensuite, walk-in closet. 2nd bedroom a young gals DREAM, walk-in closet, vanity & dressing room. A 3rd BEDROOM can be added upstairs if needed. CHEYANNE doors, updated hardware, decorative insets for artwork,hardwood floors, extensive crown, designer gas fireplaces, 5 skylights. BEDROOM in bsmt, full bathroom, awesome MEDIA ROOM, recessed lighting, custom hidden surround system, area for 65″ TV. 2nd gas fireplace, office, storage, workshop, double garage, RV park, DELUXE PLAYHOUSE. WORTH YOUR TIME TO VIEW!!

#9 ) Address:674 52ND ST, Tsawwassen Central, Tsawwassen

June 14	V885339	$1,298,000	$0	0%
July 20	V885339	$1,199,000	$-99,000	-8%
November 15	V885339	$1,149,000	$-149,000	-11%
June 12	V885339	$1,098,000	$-200,000	-15%
Open House: Sep 23

Assessment: $855,000

Fantastic, custom built, new home (no HST applicable) situated conveniently close to high school on a super sunny, fully fenced, 10,000 sq. ft. plus lot offering complete luxury throughout! This home truly exudes fine finishings and gives something special to each member of its family. 3 car garage, fantastic gourmet kitchen w/ Butler’s pantry & secondary “summer” kitchen, stainless steel appliances, delightfully elegant living & dining room, grand room concept – lots of bedrooms w/ full ensuites, steam shower in master ensuite & walk-in closets. Well priced. Too good! Don’t wait too long!

#8 ) Address:# 5 4766 55B ST, Delta Manor, Ladner

June 15	V956757	$615,000	$0	0%
Open House: Jun 16
Open House: Jun 24
June 22	V956757	$599,900	$-15,100	-2%
Open House: Jul 07
July 10	V956757	$589,900	$-25,100	-4%
July 23	V956757	removed
September 29	V974049	$545,000	$-70,000	-11%
October 17	V974049	$527,000	$-88,000	-14%
October 25	V974049	$519,000	$-96,000	-16%
Open House: Oct 27

Assessment: $528,000

5 sales here last year averaging 4% BELOW assessment and this unit is currently listed 2% BELOW assessment

Manor Gardens – spacious 1778 sq ft three bedrooms/three bathroom unit with family room on lower level & easy access to the perfectly sized backyard! Hardi-plank siding, 2-5-10 year warranty included, shows like new! Main floor features warm engineered hardwood flooring, open concept living/dining room, kitchen with granite countertops & more! Upper floor has three spacious bedrooms, master bdrm , cozy window seat for curling up with a book. Lower floor has unique finished (20’x8′ approx) family room (roughed-in plumbing in place for 4th bathroom if desired). Large 26×12′ garage (approx) + more parking. Great complex!

#7 ) Address:6772 WESTVIEW DR, Sunshine Hills Woods, North Delta

May 30	F1214090	$725,000	$0	0%
July 07	F1214090	$708,000	$-17,000	-2%
Open House: Jul 22
July 28	F1214090	$658,800	$-66,200	-9%
September 27	F1214090	removed
October 04	F1224434	$629,900	$-95,100	-13%
Open House: Oct 06
October 23	F1224434	$609,000	$-116,000	-16%

Assessment: $628,000

Fantastic family home with large yard for the kids to play! This country style home complete with appealing front porch. Very private from the road and private backyard. Inside has had updates galore! Including laminate flooring throughoutthe living-room and dining room area. LVRoom has a beautiful bay window and focal fireplace, a great entertaining space. The bright and airy kitchen has updated granite countertops with an island for the chef of the home. Open concept family RM area attached to kitchen that conveniently looks onto the large patio area. Great spot for BBQ’s! Newer tank-less hot water heater! Tons of parking! Close to schools, recreation and trails!

#6 ) Address:830 ENGLISH BLUFF RD, Tsawwassen Central, Tsawwassen

August 23	V967686	$789,000	$0	0%
September 07	V967686	$708,980	$-80,020	-10%
Open House: Sep 13
Open House: Sep 16
Open House: Sep 30
October 05	V967686	$658,000	$-131,000	-17%
Open House: Oct 08

Assessment: $655,000

Carefree living on English Bluff Road. One owner home that has been meticulously maintained! New roof, new engineered H/W floor, new boiler, new carpets, new paint. Easy care vinyl siding. Combined living dining area. Master bedroom with 4 pce ensuite. 2 more good size bedrooms. Great covered patio area off the kitchen/family room. The upgrades to this home have done to the highest standard.

#5 ) Address:11896 – 11898 75A AV, Scottsdale, North Delta

March 09	F1204743	$849,000	$0	0%
April 20	F1204743	$795,000	$-54,000	-6%
May 22	F1204743	removed
July 24	F1219065	$700,000	$-149,000	-18%
Open House: Aug 01

Assessment: $579,000

Fantastic opportunity here! HUGE LOT – 14,800 SF! Meets size requirements for sub-division! This side by side duplex has the potential to be whatever you like. Subdividein to 2 RS7 lots, invest and collect the revenue, live in one side or build your dream home on the massive lot. Its close to transit, schools, shopping and restaurants. Both 1477 sqft, 3 bed/3 bath homes have been well cared for by both owner and tenants. An incredible value, not to be missed.

#4 ) Address:1240 PACIFIC DR, English Bluff, Tsawwassen

April 05	V941413	$829,000	$0	0%
May 12	V941413	$795,000	$-34,000	-4%
Open House: May 19
June 02	V941413	$749,000	$-80,000	-10%
June 15	V941413	removed
June 25	V958398	$749,000	$-80,000	-10%
August 29	V958398	$729,000	$-100,000	-12%
October 13	V958398	$675,000	$-154,000	-19%
Open House: Oct 14

Assessment: $688,000

Immaculate 2,645 sq ft 4 bdrm executive-style home on one of Tsawwassen’s finest streets. Vews of Mt Baker and Boundary Bay, open floor plan with a large kitchen opening up to huge south facing rear deck and garden area, perfeect for entertaining family and friends. Over $50,000 recently spent on updates including new roof, paint, granite kitchen countertop, fixtures. King size master bedroom.. Quality 2 x 6 construction, solid oak floors, wonderfully landscaped low maintenance yard with adjacent green space. Newer furnace & hot water tank. Nothing to do but move in!

#3 ) Address:492 ENGLISH BLUFF RD, Pebble Hill, Tsawwassen

March 10	V936457	$1,100,000	$0	0%
May 30	V936457	$975,000	$-125,000	-11%
August 17	V936457	$940,000	$-160,000	-15%
October 26	V936457	$895,000	$-205,000	-19%

Assessment: $643,300

Fabulous property with subdivision potential.15,801 sq.ft. lot in area of Tsawwassen’s finest homes. Developer’s and builder’s take note, this type of property does not come to market often. Property has large 2 level home with full basement, featuring 7 or 8 bedrooms very unique floor plan. Home has some view,value mainly in land. Please call for more info.

#2 ) Address:6570 68TH ST, East Delta, Ladner

March 09	V891554	$2,380,000	$0	0%
June 02	V891554	removed
October 14	V976666	$2,999,880	$0	0%
October 27	V976666	$2,290,000	$-709,880	-24%

Assessment: Farm Land

20+/- acres blueberry farm. Approximate 6 years old plants. OT home rents $1,000 pm – tenants long time like to stay. Drip irrication. Plse Call LS to show. Do not show up without appointments. Do not disturb tenants. Call LS re all info. Build new home. Great location. Approximates 9 ac Duke & 6 ac Blue Crop balance Illiot-3years old. Approximate sizes. Try Home in trade.

#1 ) Address:4897 5TH AV, Pebble Hill, Tsawwassen

March 09	V934576	$2,300,000	$0	0%
Open House: May 27
May 26	V934576	removed
June 02	V954106	$2,300,000	$0	0%
June 23	V954106	$1,898,000	$-402,000	-17%
Open House: Jul 22
Open House: Jul 29
Open House: Sep 16
September 30	V954106	removed
October 18	V977058	$1,689,000	$-611,000	-27%
Open House: Oct 21

Assessment: $1,292,000

One of Tsawwassen’s most desirable home’s is on the market for the first time in 15 years. Situated on the upper bluff area on a huge 15,177 square foot private landscaped lot, close to transit and schools, this home is a well balanced home perfect for entertaining while offering the best in family intimacy and convenience. Boasting all the best in home luxury and lifestyle including Subzero and wolf appliances, a custom built Blakemore kitchen, built in air conditioning, radiant hot water heating on both levels, in ground pool and hot tub, separate nannies quarters, and a state of the art air exchange system. Dreaming of having it all this luxury home is for you, please call for a private viewing of this extraordinary home.

Spotlight Delta

Burnaby Spotlight – October 31, 2012

13 Comments Posted by an observer on October 31, 2012

It’s been a month so once again here are the top 10 properties currently listed in Burnaby with the largest overall drop in asking price since early March. No comments from me other than any unit sales in the case of a condo for these spotlights because it’s just too time consuming to read through everything when doing 13 spotlights

Some Highlights

It takes a 23% drop to make this top 10. Previous 4 months were 21%, 17%, 17% and 17%
5 of 9 listings are now below assessment

#10 ) Address:7515 WHELEN CT, Deer Lake, Burnaby

April 25	V945216	$1,688,000	$0	0%
May 17	V945216	$1,588,000	$-100,000	-6%
Open House: May 20
June 23	V945216	$1,470,000	$-218,000	-13%
August 16	V945216	removed
September 13	V970912	$1,399,000	$-289,000	-17%
September 29	V970912	$1,299,000	$-389,000	-23%
Open House: Oct 20

Assessment: $1,501,000

STUNNING & RARE! A terrific family home! Offered for sale by long time owners. Updated & immaculately kept open spacious & bright post modern family home in popular Deer Lake area situated on a large 11,465 sq.ft lot, your own “Stanley Park” setting! Updates include roof, double glazed “Low E” windows, river rock gas fireplace, bathrooms, flooring, & b/in vacuum. Large decks, 49’x13′, & 60’x23′, private backyard, backs onto greenbelt, with hot tub, and storybook garden with multiple fish ponds, large covered areas. Full height walk out basement, with unauthorized suite. Close to Deer Lake, Buckingham Heights Elementary, and public transit. This home will please the fussiest of buyers searching for that special family home.

#9 ) Address:# 47 3960 CANADA WY, Burnaby Hospital, Burnaby

March 14	V936828	$349,900	$0	0%
March 28	V936828	$328,800	$-21,100	-6%
April 28	V936828	$314,900	$-35,000	-10%
Open House: May 20
May 23	V936828	removed
May 28	V952738	$275,900	$-74,000	-21%
Open House: Jun 09, 16

July 31	V952738	removed
August 06	V965295	$265,888	$-84,012	-24%
Open House: Aug 19, 26

Open House: Sep 02, 16

Open House: Oct 14

Assessment: $259,200

No units sold in this development last year

MOTIVATED SELLER. BRING OFFERS. Beautiful spacious 1 bdrm corner unit with its own private entrance and large patio rarely becomes available in Lodges in popular Cascade Village. Nicely kept unit. Wood burning fireplace gives a country style feeling to this cozy apartment. Top of the line appliances, newer hot water tank, in suite laundry. Complex has a very nice recreation facility with indoor pool, weight room, two theatre rooms & party room looking out to landscaped green area. This kind of unit rarely becomes available.

#8 ) Address:# 302 5450 EMPIRE DR, Capitol Hill, Burnaby

July 27	V963885	$329,000	$0	0%
August 14	V963885	$299,000	$-30,000	-9%
August 25	V963885	$279,000	$-50,000	-15%
Open House: Sep 22
October 25	V963885	removed
October 28	V978371	$249,000	$-80,000	-24%

Assessment: $267,200

1 Sale here last year for 1% ABOVE assessment and this unit is currently 7% BELOW assessment

Clean 2 bedroom 2 bath corner unit facing quiet inner courtyard. Nice layout with spacious rooms. Convenient North Burnaby location close to amenities and transportation. Building is considered to be in good condition.

#7 ) Address:6563 ORCHARD PL, Deer Lake, Burnaby

October 05	V975230	$1,369,000	$0	0%
October 19	V975230	$1,035,000	$-334,000	-24%

Assessment: No Assessment

“Deer Lake Woods” a boutique 8-lot subdivision in prestigious, upscale Deer Lake. Your opportunity to purchase a fully serviced R2 zoned lot and build your dream home of approximately 4700 sq. ft. Located off Brantford Avenue, north of Oakland St. and surrounded by the forest of Deer Lake. These lots are situated in a cul-de-sac, some offer mountain views while others have the forested Deer Lake Park overlooking your back yard. This is a rare opportunity to build your own new executive home in a gem of a setting. All services at lot line and are ready to build on. Quick & easy access from this greenbelt to Metrotown & Hwy 1. Shadbolt Center for the Arts, Deer Lake and nature trails all nearby. Close to transportation & schools.

#6 ) Address:7333 BARNET RD, Westridge, Burnaby

April 21	V944674	$999,999	$0	0%
May 05	V944674	$869,900	$-130,099	-13%
May 24	V944674	$795,000	$-204,999	-20%
July 17	V944674	$749,000	$-250,999	-25%

Assessment: $673,700

Some view.

#5 ) Address:7545 WHELEN CT, Deer Lake, Burnaby

March 09	V932130	$1,877,000	$0	0%
May 16	V932130	$1,777,000	$-100,000	-5%
June 06	V932130	removed
June 11	V955744	$1,499,000	$-378,000	-20%
October 16	V955744	$1,399,000	$-478,000	-25%
Open House: Oct 20

Assessment: $1,611,000

RARE & PRESTIGIOUS! Tranquil “Stanley Park” like setting w/ stunning elevated vista views. Highly desired & rarely available large property (over 15,000 sqft) in Deer Lake/Buckingham Heights. Extensively updated modern post & beam mid-century home! Long time owner, renovations include new kitchen, bathrooms, windows, roof, hardwood floors, deck covering, & new 2 car enclosed garage. Low maintenance yard, professionally landscaped. Floor to ceiling windows, lots of natural light, bright, open layout, vaulted ceilings & skylights. Grand marble slab kitchen-island, stainless steel appliances & appointments. Flexible layout, potential self contained nanny’s quarters. Walk to Deer Lake, in Buckingham Heights School catchment!

#4 ) Address:8443 13TH AV, East Burnaby, Burnaby

March 09	V933528	$1,888,000	$0	0%
April 11	V933528	$1,500,000	$-388,000	-21%
May 08	V933528	removed
May 11	V949298	$1,399,000	$-489,000	-26%
September 16	V949298	removed
September 18	V971963	$1,399,000	$-489,000	-26%

Assessment: $1,020,000

This spacious custom built home is not to be missed! The upper level has over 1100 sq.ft. and has four bedrooms and 3 bathrooms, while the basement is over 1400 sq.ft. with 3 bedrooms and 2 bathrooms. The main floor is also over 1400 sq.ft. and has a familyroom, living room, bathroom, dining room, eating nook, and kitchen. The kitchen is open concept with rich, darker cabinets and granite counters. There are two fireplaces on the main level as well, both gas fuelled. Enjoy the outdoor patio and backyard, complete with a detached two car garage. This home is great for families, with great schools and parks within walking distance.

#3 ) Address:6135 DUFFERIN AV, Forglen, Burnaby

June 27	V958839	$1,165,000	$0	0%
July 05	V958839	$1,065,000	$-100,000	-9%
July 11	V958839	$995,000	$-170,000	-15%
September 07	V958839	removed
September 13	V970890	$895,000	$-270,000	-23%
Open House: Sep 16, 30

Open House: Oct 13
October 20	V970890	$847,500	$-317,500	-27%

Assessment: $863,300

UPDATE: Sold for $740,000, thanks “Disowned Renter”

Prime location. Close to Metrotown, Skytrain, Schools and nature trails. The original owners have cared for this home for 51 years. 3 bedrooms on the main floor, eating area in the kitchen, separate dining room, living room has hardwood floors, fireplace and overlooks the green space of Kisby Park. Partly finished basement with recroom and large area for potential finishings. A wonderful opportunity to renovate or add on to this solid home. This 50 X 150 lot with lane is great for building up to a 4500 square feet of living space.

#2 ) Address:# 106 3901 CARRIGAN CT, Government Road, Burnaby

March 09	V928289	$289,000	$0	0%
March 15	V928289	$279,000	$-10,000	-3%
April 12	V928289	$269,900	$-19,100	-7%
April 17	V928289	removed
April 19	V944191	$269,900	$-19,100	-7%
May 23	V944191	$259,900	$-29,100	-10%
June 29	V944191	$249,800	$-39,200	-14%
July 25	V944191	$239,000	$-50,000	-17%
August 24	V944191	$229,900	$-59,100	-20%
September 18	V944191	removed
September 21	V972752	$209,900	$-79,100	-27%
Open House: Sep 22, 23

Assessment: $264,700

3 sales in this property last year averaging 3% BELOW assessment. This one is currently listed at 21% BELOW assessment.

Lougheed Estates II – Court Ordered Sale !! Spacious 3 bedroo, 2 bathroom, above ground corner unit in well maintained building, just a short 5 minute walk to Sky-Train and Lougheed Mall. This home boasts over 1200 square feet of living area with a newer upgraded kit, counter-tops, laminate floors, gas fireplace and more. Massive master bdrm with 3 pc ensuite and also featuring large secondary bedrooms. Long term maintenance program in place with 1 year old roof. Complex amenities include indoor swimming pool, sauna, rec center and workshop. Maintenance fee includes heat, hot-water and gas. Convenient location close to schools, shopping, transportation and Sky-train. Unit shows reasonably well, but is sold on “As is Where is” basis.

#1 ) Address:5335 VICTORY ST, Metrotown, Burnaby

June 22	V957859	$1,860,000	$0	0%
October 04	V957859	removed
October 07	V975677	$1,280,000	$-580,000	-31%

Assessment: $747,500

Great starter home for family or investment property. This 3 bed, 2 bath 1375 sq. ft. rancher is centrally located on a 33′ x 150′ lot. An open kitchen plan overlooking the family room inviting further to the back patio and private yard. 2 car garage at back along with open parking as well. Wood & gas F/P, wheelchair accessible, skylights & jacuzzi tub w/steam bath. Close to all amenities including skytrain.Proposed RM3 zoning.

Spotlight Burnaby

The Weekly Drop – October 29, 2012

26 Comments Posted by an observer on October 29, 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.

Some highlights for this week:

60 listings dropped to a cumulative total of 20%+ this week (crushing the former record of 47), 23 hit 25% (a new record) and 9 hit 30% this week (tying the record)
White Rock, Vancouver West and Sunshine Coast are all on the list 3 times and Richmond, North Surrey and Mission make it twice
12 of 17 listings are listed below assessment
3 new builds in the top 20

#20 ) Address:2575 W 7TH AV, Kitsilano, Vancouver West

March 09	V933326	$1,790,000	$0	0%
May 01	V933326	removed
May 04	V947401	$1,689,000	$-101,000	-6%
Open House: May 19, 20, 26


Open House: Jun 03, 10, 17, 24



Open House: Jul 07, 14

July 16	V947401	removed
August 04	V965253	$1,398,000	$-392,000	-22%
Open House: Aug 04, 05, 07, 11, 12, 14, 18, 19, 25, 26









Open House: Sep 02, 08

September 05	V965253	removed
September 09	V969843	$1,373,000	$-417,000	-23%
Open House: Sep 11, 15, 16, 18, 22, 23, 25, 29, 30








Open House: Oct 02, 06, 07, 09, 13, 14, 16, 21







October 23	V969843	$1,348,000	$-442,000	-25%
Open House: Oct 28

Assessment: Building Unfinished at time of assessment

So Philip Chan, the realtor / owner, has decided to make this FIAT 500 he is now offering with the property the front image on the listing. This is the guy who went on CBC and 1) lied about how much his property had dropped 2) said he is confident the property won’t drop more than the 10 or 12% it already has dropped (now 25% and a 2012 FIAT drop) and 3) had this brilliant sound bite “Nobody can predict the future, so if you see that the market is healthy enough and you can afford to do it, do it. You can either sit by the ballpark and you watch the game or you can go down and play the game. You might get hurt or you might win.”. Looks like you’re the one who is going to get hurt. One more comment because this guy really epitomizes a lot of what is wrong with real estate in Vancouver, why would anyone use him as their realtor when he is having open houses for his own property every other day? You really think if he finds a willing buyer that he isn’t going to push them into buying his own crashing property? Ok, Philip Chan rant over.

Brand new front unit in this beautiful triplex in Kits w/ an exclusive south facing front yard, perfect for summer BBQs. Features an open flr plan w/ 1,721 SqFt living area, 3 beds, 2.5 baths, & 1 underground parking w/ a unique turntable parking feature! This home features quality luxury finishes, excellent craftsmanship & woodwork throughout, high coffered ceiling, Wainscot panelling, & rich hardwood wide plank flooring. Gourmet kitchen features granite slab countertops & stainless steel Viking appliances. Close to restaurants, shops, schools, & beaches. Strata Plan shows 1,628 SqFt. Under 2-5-10 Warranty. Brand new 2012 FIAT 500 Pop is a present to you if you purchase 2575 W7th Ave! Call us for more details!

#19 ) Address:# 4W2 8191 RIVER RD, West Cambie, Richmond

September 01	V968804	$238,800	$0	0%
September 22	V968804	$198,900	$-39,900	-17%
Open House: Sep 29
October 27	V968804	$178,800	$-60,000	-25%

Assessment: $162,600

Lovely little one bedroom and office float home in like new condition. Two patios, one covered, both face south towards the Olympic Oval and swans and ducks on the river. Lots of windows and light in this charming home. Appliances, Fisher/Paykel French door fridge, Maytag 3000 series washer and dryer, range, and microwave are all like new. Relaxed float home community is very friendly and safe. Location is handy to the Vancouver International Airport, River Rock Casino, rapid transit to Downtown Vancouver on the Canada Line and local shopping in Richmond. Open House: Sat, Sept 29th, 1-3 PM.

#18 ) Address:10098 PAINTER RD, Halfmoon Bay, Sunshine Coast

February 03	V929649	$484,900	$0	0%
March 09	V929649	$459,000	$-25,900	-5%
April 24	V929649	$434,900	$-50,000	-10%
May 30	V929649	$424,500	$-60,400	-12%
July 31	V929649	$399,000	$-85,900	-18%
September 20	V929649	$378,000	$-106,900	-22%
October 25	V929649	$359,000	$-125,900	-26%

Assessment: $400,000

Beautiful natural setting situated in Secret Cove on cul-de-sac with nearby marinas & hiking trails. This .53 acre property enjoys sunny exposure and a back drop of mature cedars. The 2,416 sqft post & beam home features vaulted ceiling, floor to ceiling windows, super spacious master suite with sitting area, private deck, 5 piece ensuite, lofted office & updated kitchen with walk-in pantry. Entertainment sized sundeck and gently sloped yard offers enjoyable outdoor living. Short stroll to marina.

#17 ) Address:# 206 1369 GEORGE ST, White Rock, White Rock

May 12	F1212478	$269,000	$0	0%
May 31	F1212478	$249,000	$-20,000	-7%
Open House: Jun 03
June 20	F1212478	$239,000	$-30,000	-11%
Open House: Jul 15
July 14	F1212478	$229,000	$-40,000	-15%
September 07	F1212478	$209,000	$-60,000	-22%
October 27	F1212478	$199,000	$-70,000	-26%

Assessment: $260,000

No units sold in this property last year. Now listed 23% BELOW assessment

CAMEO TERRACE!!! Large one bedroom and den, could be a second bedroom. Great location, western exposed balcony with peek a boo view of the ocean. Engineered hardwood floors, wood blinds, Stainless appliances, breakfast bar.Great layout, spacious laundry with side by side washer & dryer. Shows well! Age restrictions, no rentals, small pet allowed.

#16 ) Address:# 105 9632 120A ST, Cedar Hills, North Surrey

March 09	F1203816	$189,900	$0	0%
May 10	F1203816	removed
May 11	F1212212	$179,900	$-10,000	-5%
June 06	F1212212	$169,900	$-20,000	-11%
June 27	F1212212	$159,900	$-30,000	-16%
August 09	F1212212	$149,900	$-40,000	-21%
August 23	F1212212	removed
October 12	F1225175	$144,900	$-45,000	-24%
October 26	F1225175	$139,900	$-50,000	-26%

Assessment: $203,900

4 units sold in this property last year for an average of 10% ABOVE assessment and this unit is now listed 34% BELOW assessment!!! A 44% swing is mind blowing – I have to think there is more to this story.

2nd Largest unit in the complex, 2 bedroom ground floor unit which is 1354 sqft with a large patio off the living room. Great location close to Scott Rd and 96th. No rental restrictions and pet friendly building. Close to shopping, transportation and parks.

#15 ) Address:12309 24TH AV, Crescent Beach Ocean Park, White Rock

October 07	F1124941	$1,188,000	$0	0%
November 27	F1124941	$1,088,000	$-100,000	-8%
February 01	F1124941	$988,000	$-200,000	-17%
March 16	F1124941	$928,000	$-260,000	-22%
June 23	F1124941	$888,000	$-300,000	-25%
October 27	F1124941	$869,000	$-319,000	-27%

Assessment: $719,000

Like most SFH’s in White Rock / South Surrey the sellers are starting to come to the realization that buyers are no longer willing to be overpay by huge margings. Most of the listings in this area are 25%+ above assessment (with many at 50-100% above assessment) but they are sitting for a long time. From April to the end of August only 7% of homes there sold for assessment or lower. Since then that number is 38%. Here’s the funny part… only 4% of homes in the area are currently listed at or below assessment. You also might notice that over the last 4 weeks, White Rock has had multiple Weekly Drop entries in 3 of these weeks. Additionally, 8 White Rock / South Surrey listings had cumulative price drops reaching 20%+ this week. Reality check is coming

STUNNING OCEAN PARK/CRESCENT HEIGHT HOME on a very private site & only minutes (literally) from the beach path. Improvements in recent years include all new wiring etc, all new plumbing & fixtures. All new doors & windows (Euroline Tilt &Torn Gold Series) 5″ wide maple flooring & slate flooring entry, ultra line professional 6 burner gas stove, solid fir French doors (3 sets) leading onto the deck area, custom built cedar storage shed (12×16) heated & insulated + vertical grain fir kitchen cabinets & so much more. TRULY A ONE OF A KIND!

#14 ) Address:420 N OXLEY ST, West Bay, West Vancouver

March 09	V921903	$4,840,000	$0	0%
April 23	V921903	$4,498,000	$-342,000	-7%
June 08	V921903	removed
June 13	V956135	$3,999,000	$-841,000	-17%
Open House: Jun 17, 23, 24


Open House: Jul 15, 22, 29


Open House: Aug 11, 25

Open House: Sep 08, 09, 16, 22, 23




Open House: Oct 14, 20

October 22	V956135	removed
October 25	V977860	$3,488,000	$-1,352,000	-28%
Open House: Oct 28

Assessment: $1,855,000

There was a large renovation on this property but being very generous by assuming they spent $500K on the renovations it looks like it is more than a million over priced even after $1.3 million in drops

Looking for something that makes a statement? This 3 level 4 bedroom rebuilt contemporary has it all, beautiful ocean views, state of the art kitchen including an ultra modern appliance package. The open living plan takes advantage of the gorgeous ocean view and the spectacular gardens surrounding the house. Lots of private outdoor living for entertaining or just relaxing in your own mini Butchart Gardens. To fully appreciate this property you have to view it for yourself. Public open Sunday Oct. 28th, 2pm-4pm

#13 ) Address:4898 FANNIN AV, Point Grey, Vancouver West

March 09	V899955	$13,980,000	$0	0%
June 22	V899955	removed
July 07	V960623	$12,880,000	$-1,100,000	-8%
October 27	V960623	$9,980,000	$-4,000,000	-29%

Assessment: $9,145,000

Wow, $9 million+ assessment – don’t see that very often. $4 million in price drops and still over assessment – you also don’t see that very often

Majestic! A rare chance to own an over 1 acre lushly garden estate in the most sought after Point Grey area. This elegant private residence showcased beautifully park-like, mountain & water view. Over 8,100 sq ft of tastefully decorated living area w/7 bedrooms, cross hall formal dining room & living room w/conservatory, open concept gourmet kitchen w/spacious eating area & family room, recreation room w/steam bath, enchanting garden & heated outdoor pool w/entertainment sized BBQ patio. Bonus: a coach house for your guest.

#12 ) Address:# 109 1533 BEST ST, White Rock, White Rock

April 12	F1208996	$279,000	$0	0%
May 23	F1208996	$259,000	$-20,000	-7%
Open House: Jun 02
July 11	F1208996	$239,000	$-40,000	-14%
Open House: Jul 14
July 27	F1208996	$229,000	$-50,000	-18%
August 15	F1208996	$219,000	$-60,000	-22%
October 05	F1208996	removed
October 10	F1225069	$215,000	$-64,000	-23%
October 27	F1225069	$199,000	$-80,000	-29%

Assessment: $268,000

2 units sold in this property last year for an average of 3% BELOW assessment and this unit is currently listed 25% BELOW assessment. Listed 8 months and still has a typo in “transporation”.

Tremendous opportunity to purchase a delightful 2 bedroom, 2 bath, well maintained ground level unit on the quiet side of the building. Huge north west facing patio is private and secure perfect for an animal lover. This is a well kept unit, 2nd bedroom offers a Murphy bed and clever use of storage space. Huge kitchen with informal eating area overlooks open and bright LR and DR. Building has been rainscreened, seismic upgraded, new windows and paint complete the package. Pets are welcome, no age restrictions, NO rentals. No hills here! Within walking distance to shopping, transporation and nearby Peace Arch Hospital, White Rock Elementary & Earl Marriott.

#11 ) Address:# 337 19528 FRASER HY, Cloverdale BC, Cloverdale

August 16	F1220860	$239,000	$0	0%
September 10	F1220860	removed
October 05	F1224295	$174,900	$-64,100	-27%
October 28	F1224295	$170,000	$-69,000	-29%

Assessment: $174,000

4 sales in this last year averaging 1% ABOVE assessment and this unit is currently priced at 2% BELOW assessment. 35% ABOVE assessment initial price… seriously, what are you thinking?

Your new home at “The Fairmont ” – View this Clean, Large 1 Bedroom and Den (could be a 2 Bedroom), 850 sq.ft., on the Top Floor, facing north, with 2 parking spots . Other features include high ceilings, gas fireplace, private deck,and deep soaker tub. This building is in a quiet location, with great amenities (guest suite, fitness room, sauna, club house). Steps to Willowbrook Mall, Restaurants, Buses. Easy to Show.

#10 ) Address:36181 BEYER RD, Dewdney Deroche, Mission

March 09	F1124806	$380,000	$0	0%
April 04	F1124806	removed
June 08	F1214930	$330,000	$-50,000	-13%
August 09	F1214930	removed
October 26	F1226288	$269,000	$-111,000	-29%

Assessment: $323,000

Looking for that perfect building site? 13.2 acres of privacy the driveway is in place. The Engineering, Riparian and Geo-technical reports have been completed and will be made available ready for your dream home. Not far from Cascade FallsRegional Park along with many more sites for outdoor adventures. Ideal for the outdoor enthusiast. Call to view today! This property is priced to sell!!

#9 ) Address:3311 W 39TH AV, Dunbar, Vancouver West

August 04	V965119	$1,880,000	$0	0%
August 17	V965119	$1,750,000	$-130,000	-7%
August 27	V965119	removed
August 29	V968373	$1,499,000	$-381,000	-20%
October 12	V968373	$1,399,000	$-481,000	-26%
October 27	V968373	$1,325,000	$-555,000	-30%

Assessment: $1,364,000

This Dunbar lot makes the list again and after 30% in drops is finally now below assessment

Excellent property to develop & build in desirable Dunbar. Close to shopping, great public/private schools & internationally renowned UBC. Priced to sell, this RS-5 zoned 46X104.7′ (4,816 sq/ft) vacant lot is ready for your plans & to build now. This subdivided lot was originally part of the “Morrisette farmhouse” at 5503 Blenheim St & is available for sale by its self & is not contingent on the sale of 5503 Blenheim St. For full property info please review with City of Vancouver building & dev dept to review heritage revitalization agreement & designation specifics as to what can be built out now. All measurements are approx. buyer to verify.

#8 ) Address:3120 SATURNA PL, Quilchena, Richmond

June 07	V955043	$2,590,000	$0	0%
Open House: Jun 09, 10, 23


Open House: Aug 19
Open House: Sep 08
October 02	V955043	$2,390,000	$-200,000	-8%
October 24	V955043	$1,799,990	$-790,010	-31%
Open House: Oct 27

Assessment: Building Unfinished

A new build in Richmond down $800K in just a few months. The former property was assessed at $1.2 million so I can’t imagine there being much profit left in this

Distinguished brand new home just finished! Nearly 9400 sq ft lot with 4143 sq ft super solid house sitting in quiet cul-de-sac along prime Quilchena Golf Course in West Richmond. Thoughtful planning on strength and durability plus extra attention to enduring craftsmanship. Reinforced concrete foundation, carved metal entrance door and sound-proof insulation between each room makes this home special. Wood circle stairs and remote controlled electronic curtains are just other additions to the must haves: 5 bedrooms and 5 bathrooms (4 ensuite), huge chandelier, sauna & gym room with exposure to private backyard. Security TV, HRV, radiant heat, air-conditioning, outdoor sprinkler, huge deck and triple car garage. Open House Oct 27, 2-4.

#7 ) Address:# 413 33960 OLD YALE RD, Central Abbotsford, Abbotsford

March 09	F1127557	$169,900	$0	0%
April 27	F1127557	removed
April 28	F1210945	$129,000	$-40,900	-24%
June 26	F1210945	$119,000	$-50,900	-30%
October 27	F1210945	$114,000	$-55,900	-33%

Assessment: $133,300

3 units sold in this property last year for an average of 1% ABOVE assessment and this unit is now listed for 15% BELOW assessment

Ideal for an investor or first time buyer. 1 bedroom and 1 bath condo with a Maple kitchen, laminate flooring, in-suite laundry. 2 underground parking stalls and 1 storage locker. Downtown Abbotsford location, walkingdistance to restaurants, pubs, grocery stores and more. No age or rental restrictions. Great investment!!

#6 ) Address:1857 NORTH RD, Gibsons, Sunshine Coast

October 17	V976756	$375,000	$0	0%
October 25	V976756	$249,000	$-126,000	-34%

Assessment: Building Unfinished at time of assessment

Building is not only unfinished at time of assessment but it is still unfinished and comes furnished with a bucket of nails, a philips screwdriver and a sledgehammer.

Bring any offer!! Magnificent ocean, island, and North Shore mountain views from this unique partially built home. Spacious open floor plan to take advantage of the ocean views! Engineered designed wall with floor to ceiling windows, architecturally designed scarf joints with post & beam 1st growth Queen Charlotte cedar, roof is designed to have solar panels, paved driveway, .679 acres, 50 ft frontage, by 581 depth, zoned for a cottage, 750sq ft on the main floor, and 375 to 750 up all with ocean views, 2 beds, 2 baths, with plans for a huge deck, 480 sq ft of built in containers for the perfect media room, or man cave! Gorgeous sunrises! Owner says 70K to 80K to finish. Opportunity knocks! Click on multi media for tour.

#5 ) Address:274 RUPERT ST, Hope Center, Hope and Region

March 09	H1104578	$469,000	$0	0%
April 09	H1104578	$489,000	$0	0%
May 17	H1104578	removed
May 19	H1202138	$439,000	$-50,000	-10%
June 09	H1202138	$419,000	$-70,000	-14%
June 26	H1202138	$409,000	$-80,000	-16%
July 14	H1202138	$399,000	$-90,000	-18%
July 24	H1202138	$379,000	$-110,000	-22%
August 17	H1202138	removed
October 12	H1204081	$319,900	$-169,100	-35%
October 23	H1204081	$309,900	$-179,100	-37%

Assessment: $455,000

These sellers tried the raise the price to sell trick back in April – now 6 months later and 37% in drops with a new price that is over 30% BELOW assessment

Great location in Hope, set on treed lot with waterfront views of Fraser. A fisherman’s dream home. Conveniently located close to boat launch. This is a unique home with over 3000 sq.ft., 5 bedrooms, rec room and games room. Lots of windows to take in the scenic views. Needs some updating, but lots of potential. Central to shopping. * PREC – Personal Real Estate Corporation

#4 ) Address:32921 14TH AV, Mission BC, Mission

No Picture

December 04	F1128776	$1,450,000	$0	0%
April 16	F1128776	$1,000,000	$-450,000	-31%
October 26	F1128776	$880,000	$-570,000	-39%

Assessment:$442,000

Was originally more than triple assessment and is now just double assessment. With new zoning coming you can make the argument that assessment is below potential value but you can also make the argument that nobody is going to be wanting to build any high density in Mission shortly

1.47 acre property in central Mission approved for 23 town homes. Complete with drawings, geotech, engineering and site plans. Present zone R558. New zone MT40. Preliminary approval.

#3 ) Address:9267 188TH ST, Port Kells, North Surrey

March 09	F1129462	$1,788,000	$0	0%
March 17	F1129462	removed
May 29	F1213865	$1,399,000	$-389,000	-22%
July 24	F1213865	$1,150,000	$-638,000	-36%
August 24	F1213865	$1,089,000	$-699,000	-39%
October 25	F1213865	$1,069,000	$-719,000	-40%

Assessment: $1,171,000

The “WILL ACCEPT TRADES” property makes the list again – now listed 40% below peak. Scary thing is that a 40% drop only gives this property 3rd spot on the week…

INVESTOR ALERT! IN THE PORT KELLS NCP FOR FUTURE DEVELOPMENT. Over an 1.22 acres of flat and usable land. In the mean time, a huge, gorgeous home perfect for the property owner and their family, or a terrific revenue property to rent out.Many updates to the house include flooring, paint, etc and 3 generously-sized rooms with an additional, massive rec room. Very quiet area with tons of yard for kids, entertaining, hobbies or your landscaping dreams. Double garage for working on the car(s), woodworking and all your other activities. WILL ACCEPT TRADES.

#2 ) Address:18700 RIVER RD, East Richmond, Richmond

April 26	V945639	$1,210,900	$0	0%
May 23	V945639	$1,139,750	$-71,150	-6%
June 21	V945639	$1,110,900	$-100,000	-8%
July 24	V945639	$779,900	$-431,000	-36%
August 23	V945639	$756,900	$-454,000	-37%
September 25	V945639	$734,900	$-476,000	-39%
October 25	V945639	$719,900	$-491,000	-41%

Assessment: $841,800

That’s a lot of land but lots of evidence from other property bubbles suggests that lot / land value takes a large hit as credit dries up and over leveraged developers scramble to liquidate their completed builds

2.29 AC (99,752 sq ft) acreage on River Rd in North Richmond. Easy access to Vancouver via Knight Street Bridge & Hamilton (East Richmond) featuring all amenities & large shopping centre. Excellent holding property, 3 bedroom house tenanted. Hold now or build your dream home. The Vendor will not accept any offers to purchase from any individual that is an employee of Toronto Dominion Bank or any of its subsidiaries or affiliated corporations”

#1 ) Address:4478 STALASHEN DR, Sechelt, Sunshine Coast

May 21	V951633	$69,000	$0	0%
June 21	V951633	$59,000	$-10,000	-14%
July 18	V951633	$39,000	$-30,000	-43%
October 23	V951633	$37,500	$-31,500	-46%

Assessment: $148,400

The lease expires in a couple of years but can be extended. Very low price point but still a 46% drop since May and now about 75% BELOW assessment (with the disclaimer that leased land is not really assessed according to market value)

Lowest priced home in Tsawcome properties – 2 bedroom rancher-style home shows pride of ownership throughout and boasts a recently replaced roof and pressurized septic field. The open floor plan with vaulted ceilings and skylights in the living room, master bedroom and bathroom areas provide a spacious feeling and the abundance of over-sized windows further enhance the bright and welcoming interior. A gas fireplace for romantic evenings, private treed yard with privacy fence in front, covered parking and just a few steps to the beach make this home an ideal situation for full time AND weekend living in an “ALMOST WATERFRONT” setting! A prepaid lease to 2014 with option to extend lease to 2037!

Weekly Drop

The Weekly Drop – October 22, 2012

24 Comments Posted by an observer on October 22, 2012

Sorry about the late night posting this week but here are the 20 properties that dropped their price the previous week AND have dropped the largest percentage overall from their original asking price.

Some highlights for this week:

41 listings dropped to a cumulative total of 20%+ this week, 17 hit 25% and 4 hit 30% this week
Mission makes the list 4 times followed by Burnaby and Maple Ridge with 3 a piece
10 of 17 listings are listed below assessment

#20 ) Address:# 10 2986 COAST MERIDIAN RD, Birchland Manor, Port Coquitlam

May 12	V949714	$389,900	$0	0%
Open House: May 27
Open House: Jun 16
June 19	V949714	$379,900	$-10,000	-3%
July 23	V949714	removed
July 26	V963681	$375,000	$-14,900	-4%
Open House: Jul 29
July 27	V963681	removed
July 29	V964359	$359,000	$-30,900	-8%
August 14	V964359	$339,000	$-50,900	-13%
September 06	V964359	$319,000	$-70,900	-18%
September 20	V964359	removed
September 22	V972985	$319,000	$-70,900	-18%
Open House: Sep 30
September 29	V972985	$309,000	$-80,900	-21%
Open House: Oct 13
October 20	V972985	$299,000	$-90,900	-23%

Assessment: $373,000

2 sales last year averaging 1% BELOW assessment and this one is currently listed at 20% BELOW assessment! Description used to read: ”Bonus – fully fenced backyard, complete with a converted shop into a hair salon.” I don’t call having to spend time and money converting the hair salon back into something usable a bonus… They dropped that from the description shortly afterwards!

WOW!! Completely redone. Great family complex central to all levels of schools, recreation, transit and shopping. This unit offer new: windows, maple hardwood floors, custom kitchen with all new tile work, designer paint, all new high end mouldings/trim work to accent the detailed finished, some slate floors. Updated bath with new fixtures and tile work. The master offers a huge Hollywood style walk in closet converted from the third bedroom, which you could easily return to 3 bedrooms. The top floors has a den/office with a door to the roof top deck. Bonus – fully fenced backyard. Hurry on this one, with it’s quiet location and updated it wont last.

#19 ) Address:555 INGLEWOOD AV, Cedardale, West Vancouver

March 09	V925985	$3,188,000	$0	0%
April 04	V925985	$3,088,000	$-100,000	-3%
May 08	V925985	removed
May 11	V949526	$3,288,000	$0	0%
Open House: May 20, 27

Open House: Jun 03
June 02	V949526	$2,880,000	$-408,000	-12%
Open House: Jun 09, 10, 24


Open House: Jul 22
Open House: Aug 26
Open House: Sep 09
September 24	V949526	removed
September 27	V973687	$2,799,000	$-489,000	-15%
Open House: Sep 30
October 19	V973687	$2,488,000	$-800,000	-24%
Open House: Oct 21

Assessment: Unfinished at time of assessment

Between March and May they went from $3.2 million down to $3.1 million and then up to $3.3 million. Fun times and cheap tricks are over and now reality is setting in with this $800K price drop.

New modern custom designed & built home (No HST) is nestled in a stunning natural setting. Stand on the back deck & listen to the melodic sounds of the forest & creek. 4300 sqft plus of living space on an impressive 18,000 sqft lot. Polished marble entry, bamboo hardwood & ceramic tile flooring. Swiss, German & Dutch bath & kitchen fixtures and finishes. Miele appliances, Viessman Boiler for heating and hot water. Top of the line European kitchen. Tiled roof w/hard steel gutters, fir doors & window frames. Natural stone patio & driveway. This home is bright w/plenty of light streaming in from the windows and sky lights. Located near all the great West Van schools (Westcot & Sentinel), Park Royal and downtown.

#18 ) Address:6563 ORCHARD PL, Deer Lake, Burnaby

October 05	V975230	$1,369,000	$0	0%
October 19	V975230	$1,035,000	$-334,000	-24%

Assessment: No assessment

8 lots in the Deer Lake area of Burnaby. Only 5 are currently listed – not sure if that means that 3 sold but if that’s the case then they can’t be happy since the other 5 units have dropped an average of over 20% in just 2 weeks since the initial listing! This highest priced lot took the biggest hit at 24%

#17 ) Address:7545 WHELEN CT, Deer Lake, Burnaby

March 09	V932130	$1,877,000	$0	0%
May 16	V932130	$1,777,000	$-100,000	-5%
June 06	V932130	removed
June 11	V955744	$1,499,000	$-378,000	-20%
October 16	V955744	$1,399,000	$-478,000	-25%
Open House: Oct 20

Assessment: $1,611,000

#16 ) Address:24243 101A AV, Albion, Maple Ridge

August 10	V965832	$499,000	$0	0%
September 07	V965832	$469,900	$-29,100	-6%
October 19	V965832	$369,000	$-130,000	-26%

Assessment: $530,000

Wow, over 30% BELOW assessment for this 4 year old home… “BEAUTIFUL and ELEGANT” “partially damaged by fire and a former grow-op”

GREAT POTENTIAL HERE in “Mainstone Creek”– This two storey w/ full walkout basement, BEAUTIFUL and ELEGANT, 6 bedroom, 3.5 bathroom home was partially damaged by fire and a former grow-op. Price reflects the extensive work to be done –currently no flooring, missing drywall, roof truss and vinyl siding on outside needs repair from fire damage. Features include maple kitchen and island, family room/great room with gas fireplace, ensuite soaker and tub and separate shower, and quiet location.

#15 ) Address:34831 DEWDNEY TRUNK RD, Hatzic, Mission

June 15	F1215628	$1,360,000	$0	0%
October 19	F1215628	$999,000	$-361,000	-27%

Assessment: $972,000

Spell check! It is “Separate” not “Seperate”. I admit that I sometimes make this same mistake but when you’re charging someone $50K to sell their home you should use spell check… Original price was 40% above assessment

“Mansion on the Hill” Situated on a very private 1.84 acre lot over looking the mighty Fraser River, prairies, South, East and West views!! State of the art hot water heating system. This custom 2 storey, plus fully finished basement has it all! 5 huge bedrooms upstairs, almost 2500 SQFT main floor has a very open floor plan, with gourmet kitchen for entertainment. Seperate formal dining and living room, beautiful den (lots of wood) with its own patio overlooking the pond. Sewing/craft room, walk in pantry, family room and bright sun room. Basement has Nanny/Caretaker guest suite, huge entertaining rec/games area, plus its own big temp. controlled wine room. Lots of custom finish, mill work throughout. This truly is one of a kind!!! Qualified buyers only!! The quality is incredible!!!

#14 ) Address:4897 5TH AV, Pebble Hill, Tsawwassen

March 09	V934576	$2,300,000	$0	0%
Open House: May 27
May 26	V934576	removed
June 02	V954106	$2,300,000	$0	0%
June 23	V954106	$1,898,000	$-402,000	-17%
Open House: Jul 22, 29

Open House: Sep 16
September 30	V954106	removed
October 18	V977058	$1,689,000	$-611,000	-27%
Open House: Oct 21

Assessment: $1,292,000

Originally listed at 80% ABOVE assessment and even after large drops it is still over 30% ABOVE assessment. To be fair, some homes in Tsawwassen do seem to have quite low assessments compared to similar homes in other suburban areas. I’ve also noticed this home on the Craigslist home rentals recently after having no luck selling it

#13 ) Address:# 16 17700 60TH AV, Cloverdale BC, Cloverdale

March 09	F1205311	$98,900	$0	0%
June 29	F1205311	removed
September 14	F1222892	$122,900	$0	0%
October 19	F1222892	$89,900	$-33,000	-27%

Assessment: $81,700

2 sales last year averaging 1% BELOW assessment and this unit is still listed 10% ABOVE assessment. Really bizarre – initial price of $99K was over 20% above assessment and it didn’t sell. They then relist at 50% above assessment ! Now they have dropped it 27% bust still way more than they have any hope of getting for this place. Future #1 on the Weekly Drop. “Why Rent? When you can OWN! OFFER!”

Priced for an immediate SALE! Bright Open Floor Plan. Maintenance fee also includes heat and hot water. Great location – Walking distance to all amenities – On Bus Route – Easy Access to Hwy#15& Hwy#10. Why Rent? When you can OWN! OFFER!

#12 ) Address:32913 14TH AV, Mission BC, Mission

March 09	F1205726	$295,000	$0	0%
April 21	F1205726	removed
April 23	F1210290	$284,900	$-10,100	-3%
May 04	F1210290	$279,900	$-15,100	-5%
May 15	F1210290	$274,900	$-20,100	-7%
June 16	F1210290	$264,900	$-30,100	-10%
July 11	F1210290	$255,000	$-40,000	-14%
July 14	F1210290	$245,500	$-49,500	-17%
August 15	F1210290	$235,900	$-59,100	-20%
September 13	F1210290	$224,900	$-70,100	-24%
October 19	F1210290	$214,900	$-80,100	-27%

Assessment: $298,000

Now listed 28% BELOW assessment

Ample parking and only a short walk to Centennial Park from this 4 bed / 2 bath rancher in a great location. The large kitchen and lavish main bathroom make this a must see property. Separate dining room and living room for entertaining.Fully finished basement with bedroom, rec room and bathroom complete this home. RV parking is available and extra deep single car garage makes for a great work shop.

#11 ) Address:6135 DUFFERIN AV, Forglen, Burnaby

June 27	V958839	$1,165,000	$0	0%
July 05	V958839	$1,065,000	$-100,000	-9%
July 11	V958839	$995,000	$-170,000	-15%
September 07	V958839	removed
September 13	V970890	$895,000	$-270,000	-23%
Open House: Sep 16, 30

Open House: Oct 13
October 20	V970890	$847,500	$-317,500	-27%

Assessment: $863,300

UPDATE: Sold for $740,000, thanks “Disowned Renter”

#10 ) Address:# 69 14550 MORRIS VALLEY RD, Lake Erock, Mission

February 18	F1203321	$109,000	$0	0%
March 14	F1203321	$99,000	$-10,000	-9%
July 11	F1203321	$89,000	$-20,000	-18%
August 28	F1203321	$85,000	$-24,000	-22%
September 26	F1203321	$81,900	$-27,100	-25%
October 19	F1203321	$79,000	$-30,000	-28%

Assessment: $111,000

2 sales last year for an average of 4% ABOVE assessment and this listing is currently 29% BELOW assessment!

Fully serviced, READY TO BUILD, on this 6800+ sqft lot in River Reach Estates. Located next to the very popular Sandpiper Golf Resort and the majestic Harrison River, just 20 minutes to Hemlock Valley Ski Resort. Enjoy year round recreation that surrounds this beautiful area with Golfing, Skiing, Boating, Fishing, Bird watching and much much more. Build your dream home now or hold onto this piece of paradise for your future Recreation or Retirement Plans. CALL NOW you won’t be disappointed.

#9 ) Address:# 307 4369 MAIN ST, Whistler, Whistler Pemberton

June 14	V817945	$159,000	$0	0%
April 25	V817945	$127,000	$-32,000	-20%
October 20	V817945	$115,000	$-44,000	-28%

Assessment: $103,100

2 sales last year averaging 3% ABOVE assessment and this one is currently listed at 11% ABOVE assessment, down from 54% ABOVE assessment!!!

Deluxe studio, fully finished. Located in the heart of Whistler Village. Featuring lofted 9′ ceiling, galley style kitchen complete with full size fridge, stove, dishwasher & microwave oven. Cozy sunken living room. Close to shops, restaurants and ski lifts. The building has an outdoor pool, hot tub, fitness room, sauna and secure underground parking. Affordable luxury with room for four people.

#8 ) Address:# LT.3 SWARD RD, Mission BC, Mission

June 06	F1214691	$249,000	$0	0%
June 21	F1214691	$234,000	$-15,000	-6%
July 07	F1214691	$226,500	$-22,500	-9%
July 26	F1214691	$214,900	$-34,100	-14%
August 11	F1214691	$201,900	$-47,100	-19%
August 28	F1214691	$189,900	$-59,100	-24%
September 22	F1214691	$185,900	$-63,100	-25%
October 16	F1214691	$179,900	$-69,100	-28%

Assessment: No assessment

8.17 ACRES at the north end of Hatzic Lake. Access off the end of a dead-end street. Neighborhood has a park and boat launch. Not subdividable. No driveway, property begins at the end of the street. It is wet at the bottom, then risessteeply up the mountain. * PREC – Personal Real Estate Corporation

#7 ) Address:12142 287TH ST, Northeast, Maple Ridge

May 14	V950147	$1,349,900	$0	0%
July 06	V950147	$1,299,900	$-50,000	-4%
September 19	V950147	$1,199,900	$-150,000	-11%
October 15	V950147	removed
October 17	V976812	$969,500	$-380,400	-28%

Assessment: $1,030,000

Sold last Feb 24, 2011 for $900,000. Initial asking price was hoping for a $385,500 profit after all fees but that has dwindled to $15,750 profit after $53,746 in transactional related fees. If they manage to sell for asking then still a nice score for doing nothing but that’s a big if.

OPPORTUNITY! 6300 sq ft home on 5.004 Ac with gated entrance & winding driveway to private setting. Has 4 bedrooms (all with ensuite) 6 bathrooms in total (his & hers ensuites in master suite), 3 bay garage & attached workshop, large covered deck. Open plan with huge kitchen (granite countertops), Hot water radiant heat + air exchange system. Measurements are approximate and should be verified by the Buyers if important to them.

#6 ) Address:# 614 528 ROCHESTER AV, Coquitlam West, Coquitlam

March 23	V938821	$199,000	$0	0%
March 31	V938821	$189,000	$-10,000	-5%
April 05	V938821	$185,000	$-14,000	-7%
April 23	V938821	removed
April 26	V945578	$200,000	$0	0%
July 18	V945578	removed
July 25	V963470	$209,000	$0	0%
August 04	V963470	$199,000	$-10,000	-5%
August 18	V963470	$179,000	$-30,000	-14%
September 06	V963470	$174,900	$-34,100	-16%
September 19	V963470	$159,000	$-50,000	-24%
October 16	V963470	$149,000	$-60,000	-29%

Assessment: $194,100

15 units sold in this condo last year for an average of equal to assessment value and this unit is currently 23% BELOW assessment. Semi random price increases back earlier this year followed by a free fall. I’d be worried about 15+ sales last year along with 7 current listings in this building.

Location, Location, Location. This cozy 500 sq ft condo is steps from Lougheed Mall, Skytrain and every imaginable amenity. SFU Students take note; this has to be one of the easiest commutes to SFU and with a small downpayment you own instead of rent! Features include: insuite laundry, media room, billiard and exercise room with a bonus guest suite. Relax and enjoy the peace and quiet on your private top floor deck. Book a showing today for this quality built concrete condo, it will not disappoint.

#5 ) Address:34161 SUMMERHILL PL, Central Abbotsford, Abbotsford

May 18	F1213003	$1,195,000	$0	0%
June 08	F1213003	$995,000	$-200,000	-17%
August 17	F1213003	$925,000	$-270,000	-23%
October 19	F1213003	$849,000	$-346,000	-29%

Assessment: $707,000

Huge pet peeve of mine – why write bsmt instead of basement??? ” these rooms are sure to aid in spoiling any child” – is that really something somebody wants to read in a description? Surely there are better ways to convey the message.

This home really has it all inside and out, in fact it’s a veritable playground. The home functions extremely well with master bdrm on main and two massive bedrooms upstairs; these rooms are sure to aid in spoiling any child. The bsmt is finished and becomes the perfect access to what is probably one of the nicest backyards in town, featuring a gorgeous pool, outdoor kitchen, hot tub, massive stamped patio area surrounded by gorgeous landscaping on a 1/3 acre lot, & more. Come check out the extras which are too numerous to list here.

#4 ) Address:12026 DUNBAR ST, West Central, Maple Ridge

April 25	V945314	$499,000	$0	0%
July 25	V945314	$399,000	$-100,000	-20%
October 18	V945314	$349,000	$-150,000	-30%

Assessment: $424,000

Central Maple Ridge property close to downtown core. 1/4 ACRE, 80 x 144 lot that is currently zoned RS-1. The OCP indicates commercial use. All measurements are approximate and should be verified by the purchaser.

#3 ) 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%
August 18	V961471	$699,000	$-300,000	-30%
September 13	V961471	removed
September 16	V971748	$698,800	$-300,200	-30%
October 17	V971748	$679,000	$-320,000	-32%

Assessment: $665,000

Just one sale in this unit last year and it was sold at 1% below assessment. How they imagined they could get close to a million dollars for this apartment in New Westminster is hard to understand. 32% drop and still above assessment…

Again… “Mstr Bedrm”, “Bathrm”, “lrg”, “Gas FP”, “Pkg”… so lazy. Luckily they have a “healthly” contingency.

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 bathrm, Skylights, A/C. Gorgeous Drapes and Shears throughout. To top it off, this is an amazing building with healthly 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”

#2 ) Address:# 310 1455 ROBSON ST, West End, Vancouver West

May 28	V952859	$402,000	$0	0%
June 22	V952859	removed
July 18	V962408	$257,000	$-145,000	-36%
October 17	V962408	$245,000	$-157,000	-39%

Assessment: $248,900

2 sales in this low rise last year averaging 1% ABOVE assessment and this unit is now listed 1.5% BELOW assessment after and almost 40% drop…

West end freehold studio suite in concrete low-rise. On transit route & just steps from Stanley Park & all that Robson & Denman have to offer. Plumbed for insuite laundry. Low management fee. Pets & rentals OK.

#1 ) Address:7964 168TH ST, Fleetwood Tynehead, Surrey

April 26	F1210712	$950,000	$0	0%
October 03	F1210712	removed
October 16	F1225428	$519,900	$-430,100	-45%

Assessment: $429,200

From $950K and 120%+ ABOVE assessment down to a still ridiculous 21% ABOVE assessment in just 1 drop. It actually dropped more than the assessment in price! Welcome to top spot.

Prime corner property as part of a land assembly or to hold for future development. Great high visibility property to use for a home business! Very solid house on this fully fenced property that Seller would rent back if required by the buyer. All services very close. Please do NOT enter the property without an appointment. Buyer to do their own investigations.

Weekly Drop

The Weekly Drop – October 15, 2012

27 Comments Posted by an observer on October 15, 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.

Some highlights for this week:

31 listings dropped to a cumulative total of 20%+ this week, 13 hit 25% and 5 hit 30% this week
An update from the October 1 Weekly Drop where #5 on the list which had a $900K quite awesome pool house built along with $300K in other renovations and a $2.25 million initial price back in March just sold for $1.3 million… If anyone has actual sales from other units that have made the various lists then please post details in the comments
Richmond makes the top 20 four times, Vancouver West three times and West Vancouver, White Rock and Maple Ridge appear twice each
11 of 18 listings are listed below assessment

#20 ) Address:# 109 1533 BEST ST, White Rock, White Rock

April 12	F1208996	$279,000	$0	0%
May 23	F1208996	$259,000	$-20,000	-7%
Open House: Jun 02
July 11	F1208996	$239,000	$-40,000	-14%
Open House: Jul 14
July 27	F1208996	$229,000	$-50,000	-18%
August 15	F1208996	$219,000	$-60,000	-22%
October 05	F1208996	removed
October 10	F1225069	$215,000	$-64,000	-23%

Assessment: $268,000

2 sales here last year averaging 3% BELOW assessment and this unit is now 20% BELOW assessment. “transporation” – spell check people

#19 ) Address:1575 ACADIA RD, University, Vancouver West

May 05	V947974	$10,380,000	$0	0%
May 16	V947974	$9,980,000	$-400,000	-4%
June 28	V947974	$8,980,000	$-1,400,000	-13%
October 11	V947974	$7,990,000	$-2,390,000	-23%

Assessment: $6,465,000

$2.4 million in price drops and still $1.5 million over assessment. “Best location and neighour!” Of course for $8 million you could have Oprah Winfrey, Mark Zuckerberg, Lebron James and Britney Spears as your neighbours, have a couple of acres in the hollywood hills with endless ocean views and a few million left over but you’d also have to invest lots of $ in sunscreen so it evens out… And again… “workmaship”, “controled”, “celler”, “neighour”, “equipted”. Quite pathetic.

What a Master piece!Gorgeous custom built concrete & steel mansion located the prestigious UBC area.Breathtaking mountain and water view & beautiful garden view.Full attention to details.Great workmaship throughout & open floor plan offering cozy & modern life style. Over 10 foot high ceiling,HRV,built in central sound system, radiant floor heating, A/C, water filter central.Well equipted & sound proof in the media room.Professional sprinkler system.Temperature controled wine celler w/cigar room.Top of line kitchen appliances:stainless steel fridge,gas stove.Spacious kitchen w/ possibility to add Wok kitchen.Huge sundeck,Outdoor hot tub.Minutes to University Hill Elementary and Secondary. Best location and neighour!Don’t miss out!

#18 ) Address:6851 SEAVIEW RD, Sechelt, Sunshine Coast

October 04	V913931	$345,000	$0	0%
April 09	V913931	$319,000	$-26,000	-8%
July 10	V913931	$284,900	$-60,100	-17%
August 18	V913931	$269,000	$-76,000	-22%
October 10	V913931	$264,500	$-80,500	-23%

Assessment: $283,900

This is a good example of a well written description – seriously, how hard is that?

2 storey, 2 bedroom, 2 bathroom home tucked away on .76 of an acre. Freshly painted inside with a new roof last year. A sun deck on each level to sit back and enjoy the expansive views of Sechelt Inlet. Just a 5 minute walk to the beach to launch your boat or canoe and discover the local islets and inlets. Ideal for a summer home or a weekend retreat, this property is kept private with an abundance of welcoming fir and arbutus trees. The bottom level of the home has a small shop area, office nook and a sauna. If you are looking for a tranquil rural location to enjoy the sunsets, at a great price, look no further. Call for a private viewing!

#17 ) Address:# 105 9632 120A ST, Cedar Hills, North Surrey

March 09	F1203816	$189,900	$0	0%
May 10	F1203816	removed
May 11	F1212212	$179,900	$-10,000	-5%
June 06	F1212212	$169,900	$-20,000	-11%
June 27	F1212212	$159,900	$-30,000	-16%
August 09	F1212212	$149,900	$-40,000	-21%
August 23	F1212212	removed
October 12	F1225175	$144,900	$-45,000	-24%

Assessment: $203,900

4 sales here last year averaging 10% ABOVE assessment and this unit is currently 29% BELOW assessment! That’s almost a 40% swing… Sucks to be one of the 3 people who bought here at 12%+ ABOVE assessment last year. I imagine there must be something going on with this building – maybe a special assessment or perhaps the building is in the process of disappearing into a sink hole larger than the sink hole that is the owners equity in these units.

#16 ) Address:# 206 1460 PEMBERTON AV, Squamish, Squamish

March 09	V821509	$262,500	$0	0%
April 09	V821509	removed
July 02	V959681	$239,000	$-23,500	-9%
August 14	V959681	$220,000	$-42,500	-16%
September 12	V959681	$209,000	$-53,500	-20%
September 28	V959681	removed
October 11	V975801	$199,990	$-62,510	-24%

Assessment: $236,000

1 Sale here last year for 3% ABOVE assessment. This is now listed for 15% BELOW assessment.

Enjoy this 2 bedroom, 2 bathroom South Facing Apartment/Condo with mountain views and close to downtown. The downtown core offers amenities such as shopping, coffee shops and a peaceful walk along the Marina to the waterfront.

#15 ) Address:# 204 3411 SPRINGFIELD DR, Steveston North, Richmond

May 26	V952415	$264,900	$0	0%
June 20	V952415	$249,900	$-15,000	-6%
July 17	V952415	$239,900	$-25,000	-9%
July 26	V952415	$225,000	$-39,900	-15%
August 29	V952415	$219,000	$-45,900	-17%
September 28	V952415	$209,000	$-55,900	-21%
October 11	V952415	$201,700	$-63,200	-24%

Assessment: $265,900

5 sales here last year averaging 6% ABOVE assessment and this unit is now 24% BELOW assessment so another 30% tumble from last years prices. Apparently prices are flat and we are in the process of entering the first soft landing in bubble history though so no worries. This one is subject to court approval.

Bayside Court. Spacious 3 bdrm, 2 bath, end unit condo overlooking the courtyard, huge private enclosed balcony off living room, generous-sized bedrooms, walk-in closet and 2 pc ensuite bathroom in master bedroom. Great amenities: sauna, outdoor pool and 2 guest suites. Location within walking distance to Steveston Public Market, to the dyke, park, public transit, Manoah Steves Elementary & Huge Boyd Secondary. All offers are subject to court approval. Finished area includes 63 sf of enclosed balcony.

#14 ) Address:46109 BRINX RD, Fairfield Island, Chilliwack

May 25	H1202219	$589,900	$0	0%
June 07	H1202219	$549,900	$-40,000	-7%
July 11	H1202219	$524,900	$-65,000	-11%
August 18	H1202219	$499,000	$-90,900	-15%
October 12	H1202219	$449,000	$-140,900	-24%

Assessment: Farm Land

“Hippity Hop or this will be gone.” I think not.

Rare and affordable 6.16 acre RSV1 zoned property with a solid 1.5 storey, 1500 sq ft, 4 bedroom farm home, 36X36 strong and straight hip roof barn with full loft storage, 13X11 workshop and 34X19 carport. home located outside of the Dyke protection. See LB re: new construction restrictions. This full fenced corner acreage offers over 900 ft of frontage offers a pastoral setting with fertile fenced pasture. Plenty of room for horses and a gardeners delight with lots of fruit & nut trees. Lots of options. Quick to town and Fraser fishing. Hippity Hop or this will be gone.

#13 ) Address:33 BURRARD CR, College Park, Port Moody

April 13	V942770	$1,589,000	$0	0%
October 01	V942770	removed
October 13	V976498	$1,198,000	$-391,000	-25%

Assessment: $923,000

“1/4 price of West Vancouver ocean view house” ok, let’s be real here. For $4.8 million in West Van, as overpriced as it may be, you can do a hell of a lot better than this. I get the point they are making but let’s try to be a little more realistic

VIEW! VIEW! VIEW! A breathtaking elegant Home offering spectacular 180 degree mountains & ocean views. This 3 level home has 4 large bedrooms up and includes a fabulous master bedroom with nice sitting area overlooking Burrard Inlet. Wonderful open gourmet island kitchen. Conservatory eating area with ocean view too. Such a dream house with only 1/4 price of West Vancouver ocean view house. To see is to believe. Call for your private showing today.

#12 ) Address:2545 267TH ST, Aldergrove, Langley

July 04	F1217023	$1,295,000	$0	0%
October 10	F1217023	$975,000	$-320,000	-25%

Assessment: $695,000

2.38 acres in Aldergrove. Centrally located. Area has future potential. Public transit, schools, parks, recreation all nearby. * PREC – Personal Real Estate Corporation

#11 ) 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%
August 17	V938841	$200,000	$0	0%
August 27	V938841	removed
August 29	V968395	$158,000	$-42,000	-21%
October 11	V968395	$149,500	$-50,500	-25%

Assessment: $186,000

Now listed 20% BELOW assessment. I love the desperate / insane attempt at raising the price from $150K to $200K back in August! I’m shocked that it didn’t work.

Creative and elegantly laid out 1 bedroom condo. Looks like a brand new unit. Features include high ceilings an open living concept, beautiful tiles, high end laminate flooring, granite countertops and a colorful neutral decorating palate. The kitchen hosts Whirlpool stainless steel appliances and a built in microwave. Centrally located at a 5 minute walk to the West Coast Express and Haney Wharf. Easy access to local shopping and professional businesses.

#10 ) Address:3311 W 39TH AV, Dunbar, Vancouver West

August 04	V965119	$1,880,000	$0	0%
August 17	V965119	$1,750,000	$-130,000	-7%
August 27	V965119	removed
August 29	V968373	$1,499,000	$-381,000	-20%
October 12	V968373	$1,399,000	$-481,000	-26%

Assessment: $1,364,000

Dramatic price drop in a short period of time for this building lot in Dunbar

#9 ) Address:385 RABBIT LN, British Properties, West Vancouver

March 12	V936611	$3,800,000	$0	0%
March 21	V936611	$3,395,000	$-405,000	-11%
May 02	V936611	$3,100,000	$-700,000	-18%
August 06	V936611	removed
August 15	V966332	$3,100,000	$-700,000	-18%
August 16	V966332	removed
August 24	V967881	$2,988,000	$-812,000	-21%
Open House: Sep 16
October 12	V967881	$2,788,000	$-1,012,000	-27%
Open House: Oct 14

Assessment: $1,990,000

Went from about double assessment to now just 40% above assessment, what a deal!!! But “ideallly” “thequality” would be higher for this price

English country Estate ideallly located in the lower British Properties on a 1/2 acre fully level property – beautiful garden and grounds with complete privacy. This 5,200 sq. ft. Tudor designed home has been completely updated with all thequality you’d expect in a home of this caliber. Features: Grand Entry, Hardwood floors throughout, Country kitchen w/viking appliances. Huge main floor rec room/billiards room. All bedrooms with ensuite bathrooms. Resort like Master ensuite. Separate guest/nannies accommodation. Garage with a built-in sub-zero fridge…Truly a home of distinction within close proximity to Collingwood School.

#8 ) Address:# 212 14200 RIVERPORT WY, East Richmond, Richmond

March 09	V934864	$498,500	$0	0%
April 12	V934864	removed
April 14	V943239	$459,900	$-38,600	-8%
April 28	V943239	$449,900	$-48,600	-10%
May 11	V943239	$435,000	$-63,500	-13%
June 09	V943239	$424,500	$-74,000	-15%
June 19	V943239	$415,000	$-83,500	-17%
July 10	V943239	$399,900	$-98,600	-20%
July 28	V943239	$389,900	$-108,600	-22%
September 05	V943239	$372,500	$-126,000	-25%
October 11	V943239	$362,900	$-135,600	-27%

Assessment: $432,000

4 sales here last year averaging 6% ABOVE assessment and this unit is now 16% BELOW assessment. PLEASE BUY BECAUSE I AM SO DESPERATE THAT I WROTE THE ENTIRE DESCRIPTION IN CAPS

SPECTACULAR RIVER VIEWS FROM YOUR SOUTH FACING BALCONY. THIS 2 BED/ 2 BATH WATERFRONT CONDO IS LARGE, OVER 1100 SQ. FT. WITH A BONUS DEN, LOCKER, IN SUITE LAUNDRY AND STORAGE ROOM.

#7 ) Address:9396 PORTAGE RD, Pemberton, Whistler Pemberton

October 06	V914384	$55,000	$0	0%
January 16	V914384	$49,500	$-5,500	-10%
July 25	V914384	$44,900	$-10,100	-18%
October 13	V914384	$39,900	$-15,100	-27%

Assessment: $68,400

This building lot is now over 40% BELOW assessment

Affordable purchase for recreational usage or build your principal residence. 0.57 acres in Birken, 20 minutes from Pemberton and only minutes to popular Anderson Lake. Power and small outbuilding already on lot. Magnificent mountain views.

#6 ) Address:15 BRUNSWICK BEACH RD, Lions Bay, West Vancouver

June 23	V958302	$9,800,000	$0	0%
September 17	V958302	removed
October 11	V975931	$6,980,000	$-2,820,000	-29%

Assessment: $3,202,000

Started at triple assessment then they had an assessment sized price drop to bring it to a little over double assessment. One more assessment sized price drop and I’m sure it will sell

Where else can you find over 440 feet of flat waterfront that wraps around a 12,000 sq. foot mini-peninsula? Located all alone at the end of a quiet road, this home is ideally designed to capture the 360 degree views, from the intimate ocean vistas back to the rising mountains. Spectacular 4500+ sq. foot home features 3 bedrooms and 5 bathrooms on 2 levels of luxurious living space. This home boasts breathtaking views from every room and is situated on an extremely private and flat lot. The outdoor entertainment areas feature an ocean-side pool built at the high tide line, commercial grade seawall (with 2 beach accesses), flat lawns, outdoor fire pit and multiple patio and deck areas. There is nothing that compares to this property, it’s truly spectacular!

#5 ) Address:4840 FISHER DR, West Cambie, Richmond

March 09	V923733	$1,350,000	$0	0%
June 04	V923733	removed
October 14	V976718	$950,000	$-400,000	-30%

Assessment: $919,000

Many sentences. Big price drop. Still too much.

Quality, bright & spacious 3429 sf home with 5 bedrooms + den, 5 bathrooms & 2 kitchens, (separate entrance for suite down). Well kept. South facing. Convenient location. All measurements are approximate. Buyer to verify.

#4 ) Address:7980 GOLDSTREAM PL, Broadmoor, Richmond

May 19	V951161	$1,498,000	$0	0%
August 14	V951161	$1,298,000	$-200,000	-13%
October 12	V951161	removed
October 14	V976621	$998,000	$-500,000	-33%

Assessment: $1,198,600

About 20% BELOW assessment and was previously priced 25% ABOVE assessment. That’s one hell of a reality check!

Well maintained 3 bdrm 2.5 bath rancher with games room over the double garage in desirable Maple Lane subdivision, home has been lovingly cared for and is perfect to live in now and rebuild later. Original hardwood floors, 2 fireplaces, nice sprawling plan on one level. Private and huge 11622 sq ft lot in quiet cul de sac, this park like lot is a great place to build your dream home. Great location close to all amenities. Exclusions are drapes in liv/din, light fixture in family room, chandelier in dining room. More photos at realtor’s website.

#3 ) Address:274 RUPERT ST, Hope Center, Hope and Region

March 09	H1104578	$469,000	$0	0%
April 09	H1104578	$489,000	$0	0%
May 17	H1104578	removed
May 19	H1202138	$439,000	$-50,000	-10%
June 09	H1202138	$419,000	$-70,000	-14%
June 26	H1202138	$409,000	$-80,000	-16%
July 14	H1202138	$399,000	$-90,000	-18%
July 24	H1202138	$379,000	$-110,000	-22%
August 17	H1202138	removed
October 12	H1204081	$319,900	$-169,100	-35%

Assessment: $455,000

Another home listed at 30% BELOW assessment!

#2 ) Address:# 1602 1835 MORTON AV, West End, Vancouver West

March 09	V921674	$1,388,000	$0	0%
March 26	V921674	removed
April 04	V941051	$1,388,000	$0	0%
June 06	V941051	$1,750,000	$0	0%
August 22	V941051	removed
September 09	V970117	$1,100,000	$-650,000	-37%
October 12	V970117	$998,000	$-752,000	-43%

Assessment: No Assessment Available

43% drop in 4 months. The building doesn’t have any assessment info – not sure why that is. At $900/sqft for a 52 year old building it seems ridiculously high even after a 43% drop but man, what a view! That would be a great place to rent but buying, not so much.

Sophisticated buyers looking for a trophy Waterfront location overlooking English Bay need look no further. Ocean Towers is a landmark Century Modern oceanfront bldg. Masterfully transformed 2 BR 2 bath home now presents as a grand 1 BR w/sep/office/flex space. Jaw-dropping view out over the sandy Beach, the Bay to Point Grey & Gulf Islands beyond. W Hotel style master ensuite off the king-size BR. Luxe 3 pce guest bath. High end open plan kitchen w/yards of quartz & marble counters & gleaming SS appls. Made for entertaining. Custom millwork thru out. Smart home lighting, solar shades, H/W floors new dble glazed Windows. Steps to beach Seawall, cafes shops & Stanley Park. For those who can afford the best, call for private apt.

#1 ) Address:12470 BLUE MOUNTAIN CR, Northeast, Maple Ridge

April 02	V940681	$698,000	$0	0%
August 03	V940681	removed
August 06	V965433	$475,000	$-223,000	-32%
August 17	V965433	$449,000	$-249,000	-36%
September 06	V965433	$429,000	$-269,000	-39%
September 21	V965433	$389,000	$-309,000	-44%
October 13	V965433	$374,900	$-323,100	-46%

Assessment: $526,000

And CAPE COD takes top spot once again!

CAPE COD ON 1 ACRE! Nice curb appeal to this home with upstairs bedroom dormer windows. Lots of parking, double enclosed garage, nifty brickwork at the front, large covered sundeck at the back, off the dining and living room areas. Main floor has huge living and dining rooms, family room with gas fireplace, kitchen with wood cabinets and island, large laundry room. Two half baths on this level. Upstairs are 4 bedrooms, a full bathroom, and a full ensuite off the master. The basement is part and unfinished. Court Order Sale, as-is, extensive damage to home throughout, mold, etc. view photos on Realtor website before requesting a viewing. Check with your bank for financing first, as the home is without an occupancy permit.

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