The Weekly Drop – May 14, 2012

Here we go with another weekly drop and it is getting more and more competitive to make the list with 15 listings dropping by 21% or more and 3 dropping by 30% or more.  Compare that to last week where 6 listings hit 21% and first place was a 27% drop or the week before that where only 4 hit 21% with the high at 29%.  Now the question is when do we see the first 40% drop?

One other interesting point is that this weeks winner is from the same building as last weeks #2 drop

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#1) Address:# 910 5911 MINORU BV, Brighouse, Richmond

March 09	V933002	$99,900	$0	0%
May 09	V933002	$66,000	$-33,900	-34%

Assessment: $64,800

Own a great investment in Downtown Richmond! Airport Hilton Hotel. Located in heart of Richmond. Completely managed & operated w/potential income. Units owner could enjoy benefits which include 30 day per year of personal use at 50% discount rate. Free use of hotel exercise facilities, hotel swimming pool, hotel tennis court & 25% discount on food at hotel restaurant, lounge or room service.

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#2) Address:340 184TH ST, Hazelmere, White Rock

March 09	F1129597	$5,988,000	$0	0%
March 31	F1129597	removed
May 12	F1212500	$3,988,000	$-2,000,000	-33%

Assessment: $37,781  (Farm land – value set by BC Regulation 411/95)

No Picture

Endless possibilities await on this Exclusive Executive 20.49 Acre property neighboring Multi Million Dollar homes in the Hazelmere Valley. Embrace this magnificent estate property directly adjacent to a championship Hazelmere Golf Course that accommodates the finest Tennis and Dining facilities. Only minutes from the beaches of White Rock, this once in a lifetime property provides panoramic views of North Shore Mountains and Valley. A few short blocks from the new High Point Estates community. This is a truly rare opportunity for discerning investors or family looking for an Exclusive Estate or development opportunity!!

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#3) Address:# 208 5430 201ST ST, Langley City, Langley

March 09	F1129385	$365,000	$0	0%
May 12	F1129385	$256,900	$-108,100	-30%

Assessment: $359,000

Listed for almost 30% below assessment – another first on the weekly drop

CORNER STAIRFREE 3 bdrm condo is the ultimate in space & features at award winning Sonnet. 1501 sqft and loaded with extras: full size independent Double Garage, huge storage locker a few steps away, open style kitchen & living room with large granite island, wine rack, eating bar & deep drawers. High quality Italian fixtures, Plus wet bar or veggie sink with granite counter & additional cabinets. 2 balconies each with retractable screen door. Air conditioning. Luxurious ensuite with rain shower & almost new walk-in jetted (safe step) tub. Spacious foyer for gatherings or wheelchairs. 9′ ceiling. State of the art gym with 3 plasma TVs, library, party room. One level living with space you need, luxury you deserve.

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#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%

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 sw.ft. and has a family room, 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.

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#5) Address:5051 WILLIAMS RD, Lackner, Richmond

March 09	V930043	$1,589,000	$0	0%
March 28	V930043	$1,498,000	$-91,000	-6%
May 05	V930043	removed
May 11	V949349	$1,168,000	$-421,000	-26%

Assessment: $1,137,000 (Building Unfinished at time of assessment)

HST included in this 3550 SF home (almost $200,000 in savings), it features 6 bedrooms & 6 baths. 10 ft ceilings on the main & 9 ft up, with high efficiency Viessman radiant heat boiler & hot water system, HRV, & A/C. The main & spice kitchen are equipped with all Bosch stainless appliances, granite counters, Sakura range fans. All sinks & toilets are made by Kholer with Delta faucets. The master ensuite features Riobel faucets, shower has 4 jet body spray & steam shower also has a 6 jet jacuzzi. Designer colors were used throughout along with engineered H/W floors. Other features include video intercom system, screens for all windows, high efficiency light bulbs. Separate entrance for the 1 bed suite.

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#6) Address:5035 WILLIAMS RD, Lackner, Richmond

March 09	V930050	$1,589,000	$0	0%
March 26	V930050	removed
March 30	V940047	$1,498,000	$-91,000	-6%
May 08	V940047	removed
May 11	V949356	$1,188,000	$-401,000	-25%

3 MLS Numbers in 2 months…

Assessment: $1,138,000 (Building Unfinished at time of assessment)

HST incl for this 3550 SF home (almost $200K savings). 6 bedrooms, 6 baths. 10ft ceilings on main, 9 ft up with 16ft grand living dining. High efficiency boiler/radiant floor system, HRV & A/C. Bosch appliances & granite counters. Kohler & Delta with Riobel in master spa which features 4 jet shower with rain head & steam. Video intercom system window screens & high efficiency bulbs throughout. Sakura hood vents & slow stop drawers in the kitchen. Separate entrance for the 1 bed legal suite as a mortgage helper. Attention to detail make this home sparkle. It is staged to help impress. At this price it won’t last long!

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#7) Address:9990 240TH ST, Albion, Maple Ridge

March 09	V915091	$1,700,000	$0	0%
May 09	V915091	$1,298,000	$-402,000	-24%

Assessment: $704,000

BUILDER ALERT! Albion Crossing is a proposed fully serviced 16-Unit Townhouse Development site. All approvals are in place. Building permit drawings are ready to submit for city. Entire Development can be built at once or in phases. Prime location close to schools, shopping and transportation. Most units will have a water view of the Fraser River. Don’t miss out! Put in an offer. This will sell fast!

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#8) Address:3568 E PENDER ST, Renfrew, Vancouver East

March 09	V930209	$1,298,888	$0	0%
April 13	V930209	$1,250,000	$-48,888	-4%
May 01	V930209	removed
May 12	V949858	$999,000	$-299,888	-23%

Assessment:  $885,000

Live in Vancouver in one of the units and collect income from th other. Each suite has been updated. The gross income per year is approximately $61,000 and the cap rate is estimated to be 4.7%. This is definitely a better investment than most mutual funds or the stock market. There is also a coin operated laundry that brings in $20 a month. This is a turnkey investment.

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#9) Address:2922 PARK LN, Altamont, West Vancouver

March 09	V911708	$12,800,000	$0	0%
March 22	V911708	removed
May 10	V949010	$9,980,000	$-2,820,000	-22%

Assessment: $4,863,000

WATERFRONT VILLA situated on a private bluff with panoramic water views. Offering three spacious floors, all with direct water views, and a wonderful open floor plan providing access to outside terraces, manicured gardens and your own private beachside oasis..featuring five generous Bedrooms incl. a large top floor Master suite and stunning Bathroom. A full Gourmet Kitchen, entertainment size Dining & Living room. Music Room and Family room. On the lower garden level an Office and Exercise Gym easily convert into 4th & 5th Bedrooms and a fully equipped Media/Games room.

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#10) Address:815 ANDOVER CR, British Properties, West Vancouver

April 09	V942024	$2,798,000	$0	0%
April 24	V942024	$2,498,000	$-300,000	-11%
May 07	V942024	removed
May 11	V949361	$2,198,000	$-600,000	-21%

Assessment: $1,589,000

Amazing opportunity to acquire this almost 17,000 sq ft of view property in a prime British Properties location. Outstanding views of City & ocean from almost every essential room. Over 3,200 sq ft of lovely family home has 3 large bedrooms, 3 bathrooms, spacious & bright high ceiling living/dining opening on to a large south facing balcony to enjoy the views and an updated kitchen up & a large family/recreation room, huge nanny/guest room & 2 bathrooms on the lower level. Close to Hollyburn Country Club, Capilano Golf Club & best schools in town. Do not miss this rare opportunity to own this highly sought after property.