The Weekly Drop Suburbs - December 26, 2012

Here are the 10 properties outside of Metro Vancouver (Vancouver West, Vancouver East, Burnaby, Richmond, North Vancouver and West Vancouver) that changed their price or were relisted under a new MLS number the previous week (December 18 to 26) AND have dropped the largest percentage overall from their original asking price.

I’m thinking this will be the format at least for the coming months.  On a normal week Monday will be the top 10 of listings outside of Metro Vancouver, Tuesday will be the top 10 detached in Vancouver and Wednesday the top 10 attached in Vancouver.  We’ll see how that goes anyways.  Merry Christmas and a Happy New Years from “an observer”

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#10 ) Address:# LOT 17 COURTNEY RD, Gibsons, Sunshine Coast

March 09, 2012	V933929	$260,000	$0	0%
May 11, 2012	V933929	$219,000	$-41,000	-16%
August 10, 2012	V933929	$189,000	$-71,000	-27%
December 26, 2012	V933929	$179,900	$-80,100	-31%

Assessment: Unknown

Your dream can become a reality. Set in spectacular Gibsons BC just above the prestigious Grantham’s Landing, Vista Ridge is a lush master planned development offering both privacy and majestic views of Howe Sound and the Coastal Mountain ranges. The sustainable envisioned Vista Ridge at Granthams adheres to our environmental and aesthetic guidelines to protect both your investment and its sublime natural surroundings. Located only 1 km from Gibsons, 2 km from the Langdale ferry terminal and 1 hour from Vancouver, Vista Ridge is close enough to all the amenities you will require, yet far enough away to enjoy the tranquility of life on the Sunshine Coast.

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

July 17, 2011	V900385	$1,298,000	$0	0%
October 27, 2011	V900385	removed after 102 days
October 30, 2011	V917886	$1,298,000	$0	0%
June 06, 2012	V917886	$1,095,000	$-203,000	-16%
July 11, 2012	V917886	$975,500	$-322,500	-25%
September 07, 2012	V917886	$889,000	$-409,000	-32%
December 09, 2012	V917886	removed after 406 days
December 24, 2012	V983052	$889,000	$-409,000	-32%

Assessment: $697,000

This one’s coming down again shortly

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.

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#8 ) Address:14070 110TH AV, Bolivar Heights, North Surrey

No Picture

October 05, 2007	F2725709	$679,000	$0	0%
October 30, 2007	F2725709	$629,000	$-50,000	-7%
February 04, 2008	F2725709	removed after 122 days
December 19, 2012	F1228829	$449,800	$-229,200	-34%

Assessment: $488,200

Listing for 34% below 2007 prices

One of a kind!! Over 1 Acre land in a middle of the city close to city center and sky train station(Gateway). Detach work shop and large garage.

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#7 ) Address:32930 CARDINAL ST, Steelhead, Mission

No Picture

June 21, 2010	F1017619	$849,000	$0	0%
October 21, 2010	F1017619	removed after 122 days
March 02, 2011	F1105395	$699,900	$-149,100	-18%
May 27, 2011	F1105395	removed after 86 days
October 23, 2011	F1126232	$659,000	$-190,000	-22%
November 15, 2011	F1126232	$599,000	$-250,000	-29%
February 05, 2012	F1126232	removed after 105 days
February 08, 2012	F1203207	$549,900	$-299,100	-35%
March 08, 2012	F1203207	$529,000	$-320,000	-38%
June 07, 2012	F1203207	removed after 120 days
December 20, 2012	F1228837	$549,000	$-300,000	-35%

Assessment: $593,000

They pulled the listing in June and relisted in December for $20K higher than the last price.  Good luck with that

2 legal homes on 4.51 acres zoned 1.73 acre parcels. Approx 20,000.00 to complete a subdivision 2 road frontages one on Dewdney and the other on Cardinal making complete privacy from each home. Each house has 4 bdrms. One home is a 4800 sq ft modular with vaulted ceiling beautiful kitchen with stainless steel appl. Ensuite with soaker tub and separate shower 2nd home is an older farm house that has been nicely updated. Not a drive by a great deal for 2 family or a developer looking to make some money. All meas approx.

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#6 ) Address:31986 ROBIN CR, Mission BC, Mission

September 27, 2010	F1024446	$350,000	$0	0%
June 01, 2011	F1024446	removed after 247 days
February 22, 2012	F1204403	$295,900	$-54,100	-15%
March 31, 2012	F1204403	$289,900	$-60,100	-17%
May 19, 2012	F1204403	removed after 87 days
July 14, 2012	F1218297	$274,900	$-75,100	-21%
July 18, 2012	F1218297	$275,000	$-75,000	-21%
August 29, 2012	F1218297	$264,900	$-85,100	-24%
September 21, 2012	F1218297	$250,000	$-100,000	-29%
October 19, 2012	F1218297	$245,000	$-105,000	-30%
November 17, 2012	F1218297	$234,900	$-115,100	-33%
December 18, 2012	F1218297	$219,900	$-130,100	-37%

Assessment: $297,000

This home is close to 30% BELOW assessment.

Light & bright, 5 bedroom basement entry style home with spacious, level foyer and open & flowing layout located on Mission West Side. Attractions include separate entry for bsmt, large, fenced, private corner lot, extra parking with a secure spot behind fence for your RV and extra vehicles, lovely laminate floors and flexible living space with lots of room for every member of the family including your extended family. Needs work but is priced accordingly. Safe, family friendly neighborhood with quick & easy access to the West Coast Express, Lougheed Highway & bridge to Abbotsford. Come check it out, you will be glad you did!

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#5 ) Address:20419 LORNE AV, Southwest Maple Ridge, Maple Ridge

August 13, 2010	V845948	$239,900	$0	0%
October 20, 2010	V845948	$229,900	$-10,000	-4%
March 02, 2011	V845948	removed after 201 days
May 19, 2011	V889014	$155,000	$-84,900	-35%
August 12, 2011	V889014	$144,900	$-95,000	-40%
September 15, 2011	V889014	removed after 119 days
November 28, 2012	V981279	$193,000	$-46,900	-20%
December 11, 2012	V981279	$169,000	$-70,900	-30%
December 18, 2012	V981279	$159,000	$-80,900	-34%
December 20, 2012	V981279	$149,000	$-90,900	-38%

Assessment: $136,000

Sold in September, 2011 for $130,000.  Their initial relist price was 50% higher than what they paid for it last year.  This would have netted them a $46K profit after transactional costs.   In under a month they have had 3 price drops totaling 23% and brining their profit if sold for asking to under $5K…  I find it ironic that they chose a monopoly piece for the picture since that game is all about buying and flipping homes and going bankrupt…

Great 50 x 120 building lot for under $150,000. Buyer to verify all information with City Hall regarding building process set backs etc. Building Permit needed.

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#4 ) Address:7735 HORNE ST, Mission BC, Mission

February 08, 2007	F2702676	$469,000	$0	0%
March 20, 2007	F2702676	$449,000	$-20,000	-4%
May 05, 2007	F2702676	removed after 86 days
June 13, 2007	F2715176	$449,000	$-20,000	-4%
August 03, 2007	F2715176	$439,000	$-30,000	-6%
October 01, 2007	F2715176	removed after 110 days
October 11, 2007	F2726150	$439,000	$-30,000	-6%
October 30, 2007	F2726150	removed after 19 days
May 27, 2008	F2815782	$589,900	$0	0%
September 21, 2008	F2815782	removed after 117 days
June 14, 2011	F1115279	$449,000	$-140,900	-24%
July 08, 2011	F1115279	$429,000	$-160,900	-27%
August 03, 2011	F1115279	$419,000	$-170,900	-29%
September 30, 2011	F1115279	$409,000	$-180,900	-31%
January 01, 2012	F1115279	removed after 201 days
October 23, 2012	F1225863	$398,900	$-191,000	-32%
November 21, 2012	F1225863	$386,800	$-203,100	-34%
December 19, 2012	F1225863	$359,900	$-230,000	-39%

Assessment: $438,000

“This is truly an exceptional buy at this price. Call for your private viewing before this opportunity disappears.” – this description was the same back in October so probably not an exceptional buy and likely not disappearing.  This place is now almost 40% below 2007 pricing

Sprawling 4 level executive style home with Spectacular views to the South. Two party sized decks taking in views of Mount Baker. Tons of top notch renovations including roof, doors, windows, kitchen, bathroom, furnace, flooring…….This is truly an exceptional buy at this price. Call for your private viewing before this opportunity disappears.

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#3 ) Address:4100 CEDAR DR, Burke Mountain, Coquitlam

September 09, 2011	V908692	$1,249,000	$0	0%
November 05, 2011	V908692	$1,199,000	$-50,000	-4%
November 18, 2011	V908692	$995,000	$-254,000	-20%
December 10, 2011	V908692	$890,000	$-359,000	-29%
March 31, 2012	V908692	$775,000	$-474,000	-38%
May 12, 2012	V908692	$699,000	$-550,000	-44%
June 20, 2012	V908692	$660,000	$-589,000	-47%
August 15, 2012	V908692	removed after 341 days
December 19, 2012	V982851	$699,000	$-550,000	-44%

Assessment: $775,300

“this is the deal of the decade.” – well actually it is $39K higher than the last time you failed to sell it

OPPORTUNITY KNOCKS! Great location close to shopping, recreation, transportation and adjacent to the coming Equestrian Style neighbourhood (5 acre parcels). Huge revenue potential here. Minimum $1500 per DAY boarding dogs & cats in an earthquake engineered 12 year old kennel. Easily modified to accommodate horses. RS2 zoning will allow 2 houses here with a 45% lot coverage.. Priced well below city assessed value, this is the deal of the decade. Call Lorne for more details.

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#2 ) Address:8624 GAGLARDI ST, Mission-West, Mission

April 28, 2007	F2710291	$495,900	$0	0%
June 01, 2007	F2710291	removed after 34 days
August 27, 2008	F2825034	$439,900	$-56,000	-11%
October 17, 2008	F2825034	$419,900	$-76,000	-15%
November 27, 2008	F2825034	$399,900	$-96,000	-19%
January 20, 2009	F2825034	$374,900	$-121,000	-24%
February 16, 2009	F2825034	removed after 173 days
May 05, 2009	F2908302	$374,900	$-121,000	-24%
May 27, 2009	F2908302	$364,900	$-131,000	-26%
June 17, 2009	F2908302	removed after 43 days
February 25, 2012	F1204863	$389,000	$-106,900	-22%
April 04, 2012	F1204863	$369,000	$-126,900	-26%
April 26, 2012	F1204863	$349,500	$-146,400	-30%
August 23, 2012	F1204863	removed after 180 days
October 23, 2012	F1225865	$299,000	$-196,900	-40%
November 20, 2012	F1225865	$288,800	$-207,100	-42%
December 18, 2012	F1225865	$272,000	$-223,900	-45%

Assessment: $345,700

Over 20% BELOW assessment and 45% BELOW 2007 listing prices.  Normally when a new listing is pulled quickly (as in 2007) there was a sale so this place is likely down close to to 50% by the time you throw in the realtor commissions and transfer taxes

Country style home on just over 1 acre in the Silverdale area. The acreage is cleared and has a gentle slope to the front of the property. The previous listing indicated a new drilled well and older shallow well (Buyer to verify). The current home is non-conforming as it is encroaching on the front property line. Great property to build your new dream house on. Minutes walk to Silverdale elementary.

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#1 ) Address:# 101 33464 GEORGE FERGUSON WY, Central Abbotsford, Abbotsford

April 07, 2007	F2707883	$133,000	$0	0%
April 24, 2007	F2707883	removed after 17 days
October 05, 2012	F1224246	$85,900	$-47,100	-35%
October 26, 2012	F1224246	$79,900	$-53,100	-40%
November 28, 2012	F1224246	$74,900	$-58,100	-44%
December 19, 2012	F1224246	$69,900	$-63,100	-47%

Assessment: $124,600

This apartment is well over 40% BELOW assessment and 47% off 2007 pricing in what was likely a sell based on the short time on market

Spacious 2 bedroom ground level unit with an enclosed patio plus a garden area which is all fenced off. Age restricted complex 45+ yrs of age. No rentals allowed but small pets are OK. Located close to shopping and transportation. Also has insuite laundry.