Vancouver Price Drop

Documenting Vancouver real estate price movements

The Weekly Drop – May 7, 2012

On this weeks list you will notice the #1 and #3 spots taken up by the same development, Blue Heron Marina Estates. It is an upcoming development of 9 waterfront homes on the Fraser, all with their own docks and looking at the marketing pictures you would think the boats were docked in San Diego and not the brown waters of the Fraser. I remember seeing lots of advertising for this complex of 9 homes about a year ago and to date eight of them are still listed (I’m unsure if unit #9 has already been sold but it isn’t currently listed) and if the Weekly Drop was a top 20 list you would see all 8 units. The combined listing price as of April 28 of the 8 units was $19,986,000. The combined listing price today is $16,010,800.

Interesting side note, previously there was only 1 “8” in all of the listing prices and now there are 12 with 8’s being snuck in on just about every listing. I guess they figured it was a lack of magic 8’s drawing people to Blue Heron Marina Estates.

Another note, one home on the list has dropped $3 million and that barely cracked the top 10!


 

#1) Address:# 8 23740 DYKE RD, Hamilton, Richmond

March 09 V867144 $2,527,000 $0 0%
April 28 V867144 removed
May 04 V947680 $1,842,800 $-684,200 -27%

Assessment:  Not Available

BLUE HERON MARINA ESTATES! New WATERFRONT Detached South Facing Executive Homes with your own concrete dock. As part of Strata Community and Marina, you will have the peace of mind that the Marina services include overseeing your property & boat. Located in the banks of the South Arm Fraser River, in a calm protected channel with deep fresh water moorage. Imagine, living on the water’s edge in your own waterfront home and enjoying the magnificent view of the water and mountains with your own Yacht moored on your own private dock. High end finishing with a elevator in each of 9 homes! Ground flr has very large garage for 4 cars & large Flex area.Maintenance strata fee $ 145.


 

#2) Address:# 507 5911 MINORU BV, Brighouse, Richmond

March 09 V826361 $89,000 $0 0%
May 01 V826361 $66,000 $-23,000 -26%

Assessment: $58,400

Investors should take note!! A fully furnished hotel suite in the Hilton Vancouver Airport Hotel at the heart of DT Richmond!! Effluent Richmond is the Pacific Gateway to Canada, and with its well-educated and skilled work forces, attracts myriads of mega multi-national business establishments. Hilton Vancouver Airport Hotel is close to YVR International, large shopping malls, schools and university, banking facilities, library, sports centres, and other major Downtown essentials like fine ethnic and gourmet restaurants, fine arts, entertainment attractions, convenient public transportation, and the new Canada Line Rapid Transit System which connects to Downtown Vancouver in a mere 20 minutes or so. This is a good piece of real estate investment with steady return on investment. Seller is motivated, and will look at all reasonable offers. Be part of the clean lifestyle or environmental friendly Richmond. Don’t miss out!!


 

#3) Address:# 2 23740 DYKE RD, Hamilton, Richmond

March 09 V867139 $2,455,000 $0 0%
April 28 V867139 removed
May 04 V947601 $1,863,000 $-592,000 -24%

Assessment: Not Available

BLUE HERON MARINA ESTATES! New WATERFRONT Detached South Facing Executive Homes with your own concrete dock. As part of a Strata Community & Marina, you will have the peace of mind that the Marina services include overseeing your property & boat. Located in the banks of the South Arm Fraser River, in a calm protected channel with deep fresh water moorage. Imagine, living on the water’s edge in your own waterfront home and enjoying the magnificent view of the water with your Yacht moored on your own private dock. High end finishing with an elevator in each home! The ground flr has 2 garage for 4 cars & a good size flex area. Maintenance fees are strata $ 135.


 

#4) Address:531 S FLETCHER RD, Gibsons, Sunshine Coast

March 09 V881236 $319,000 $0 0%
March 29 V881236 $280,000 $-39,000 -12%
May 02 V881236 $249,000 $-70,000 -22%

Assessment: $224,000

PANORAMIC VIEW Corner Lot [1 of a kind]in Gibsons Landing! N/W Corner S. Fletcher & School Rd.! 1 short block to Government Public Wharf&Gazebo, Waterfront Seawalk, Scenic Harbour& Marina, Village Shops, Restaurants! Cleared & ready to build on! Services available!


 

#5) Address:4611 WOODBURN RD, Cypress Park, West Vancouver

March 15 V937107 $3,388,000 $0 0%
April 11 V937107 $3,188,000 $-200,000 -6%
April 24 V937107 $2,888,000 $-500,000 -15%
May 01 V937107 $2,688,000 $-700,000 -21%

Assessment: $2,279,000

Amazing 58,806 sq ft. (1.35 acre) view property with totally private gated entry leading down a one of a kind 400 foot driveway to a completely private rock bluff setting overlooking stunning views from Lions Gate Bridge to Vancouver Island. The home boasts nearly 6000 sq. ft. with vaulted ceilings, sundrenched patios, fantastic kitchen, slate floors, incredible master bedroom with holiday style ensuite and his and her walk-in closets. Other features include: 3 car garage (with 5 covered spots) and an indoor pool. Located near Caulfeild shopping center, Rockridge High School, Caulfeild Elementary School, parks, fantastic mountain biking & walking trails!


 

#6) Address:15438 ROYAL AV, White Rock, White Rock

March 30 F1207945 $2,000,000 $0 0%
May 01 F1207945 $1,850,000 $-150,000 -8%
May 05 F1207945 $1,580,000 $-420,000 -21%

Assessment: $983,000

No Picture

Location! Location! Location! Magnificent 180 degree Ocean View of Mt. Baker, Blaine, Gulf Island, and the Bay in a 50*117 lot. Located in desirable street Royal Avenue. Excellent investment opportunity you do not want to miss!


 

#7) Address:2818 BELLEVUE AV, Altamont, West Vancouver

March 09 V919914 $14,990,000 $0 0%
March 17 V919914 $13,990,000 $-1,000,000 -7%
May 05 V919914 $11,990,000 $-3,000,000 -20%

Assessment: $9,094,000

Double gates lead to a compl priv World Class W/F estate! Luxurious & sophisticated Contemp res designed by Brad Lamoureux. Beautifully crafted stone F/P, rich walnut flrs, custom millwrk, lg picture windows, designer art lighting & full bar – all opening out to sensational covered veranda w/O/D firepit & BBQ. Breathtaking ocean views. Priv office, gorgeous Chef’s kit, granite counters, ocean view brkfst nook, FR, media rm. Up feat exquisite master bdrm, ocean-facing lanai, spa-like ensuite, custom W/I closet & 3 suites. Down has gym, infra-red sauna, steam shower, large rec area w/media centre, games rm w/wet bar, 2 guest suites & wine rm. Lutron lighting system & security. 3-car garage, oceanside pool, & spa. Stunning!


 

#8) Address:3870 W 16TH AV, Dunbar, Vancouver West

March 09 V933991 $2,500,000 $0 0%
May 04 V933991 $2,000,000 $-500,000 -20%

Assessment: $1,200,800  (Property has more than one structure; Property Details may be for multiple structures)

Almost rebuilt 3 bedroom house with an established convenient store on main floor. Also having possibility to build a laneway house of which design and drawings are available. Great opportunity living in the prestigious area while making enough enough money to pay mortgages. Close to Lord Byng Secondary School and Queen Elizabeth Elementary school, about 10 minutes to UBC. The Pacific Park is nearby. Just an excellent live and work property. Don’t let the chance go by.


 

#9) Address:61613 YALE RD, Hope Silver Creek, Hope and Region

March 09 H1101502 $91,000 $0 0%
May 01 H1101502 removed
May 02 H1201799 $72,500 $-18,500 -20%

Assessment: $5,000

No Picture

Water front on the Fraser River, 1/2 acre – size is approximate. Located near the Hope Airport at exit 165. Terrific recreational property. Flat and mostly clear.


 

#10) Address:# 1204 1026 QUEENS AV, Uptown, New Westminster

March 09 V931231 $299,000 $0 0%
April 24 V931231 removed
May 04 V947733 $239,000 $-60,000 -20%

Assessment: $183,900

Wow! What a view! This one bedroom is on the top floor, solid concrete building. Just minutes to skytrain, New West Quay, Douglas college, shopping and parks. Suite has great layout, covered deck for your morning coffee and summer BBQ. Building has newer roof, exercise room, outdoor pool and garden. Maintence fee includes hotwater, management and recreation facility. Vacant easy to show. Quick possession! Seller movitated.



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7 responses to “The Weekly Drop – May 7, 2012

  1. M- May 7, 2012 at 10:43 am

    Classic attention to detail by a “professional” realtor in #2: “Effluent Richmond”. Looks like they’ve taken Ditchmond to a whole new level!

  2. zerodown May 7, 2012 at 9:32 pm

    That realtor might get paid several thousand for that prose.

  3. harbottle May 8, 2012 at 4:48 am

    #2: “seller motivated” lol. code for desparate

  4. dg May 8, 2012 at 7:52 am

    Some of these seem like they are fishing. Their original listing price is way out there. Like the one in New West on the 12th floor. I know this building and the original asking price of $299K is beyond stupid.

  5. Devore May 10, 2012 at 7:50 pm

    Scary part is the listing was edited, but “effluent” remains.

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