Vancouver Price Drop

Documenting Vancouver real estate price movements

The Weekly Flip Flop – May 25, 2012

We’re back with the weekly flip flop tracking homes that were increased by the largest percentange over the past week. Special honours go to realtor Ken Xu who shows great consistency with his two properties coming in at #4 and #5 and his hopefully soon to be famous “Bonus:price sell.” slogan.

#1) Address:4571 PENDLEBURY RD, Boyd Park, Richmond

May 11 V949535 $1,088,000
May 24 V949535 $1,398,000 $310,000 28% 28%

This one won’t last… offers will be received before 11:59am on May 14th if there is any… Nope… nothing… ok, let’s raise it by $300K…  Good one Nancy Li.

Assessment: $1,103,100

Fantastic redevelopment opportunity in Boyd Park. This huge, 8,910 square foot property on prestigious Pendlebury Road, one of West Richmond’s most exclusive addresses, presents the perfect opportunity for a high end builder or descent purchaser wishing to build a custom dream home. Pendlebury Road, a quiet street close to schools, community centre, shopping and golf, is home to some of Richmond’s most luxurious residences and building lots here are in high demand. Value is in the land, sold “as is, where is.” This one won’t last. Open Sunday, May 13th, 12-2pm. All offers will be received before 11:59am May 14th if there is any.

#2) Address:1549 W 59TH AV, South Granville, Vancouver West

March 14 V936996 $2,188,000
April 23 V936996 removed
May 02 V946851 $1,790,000 $-398,000 -18%
May 14 V946851 removed
May 21 V951528 $2,138,000 $-50,000 -2% 19%

Assessment: $1,738,200

South Granville – move in ready! Recent updates include high-efficiency furnace & A/C, brand new hot water boiler, insulation, Ethernet in rooms and full renos on main & upper floors. Perfect home for a growing family. This lovely home features 6 bedrooms: 3 up, 1 on main and 2 down, 5 skylights that open for extra fresh air, laminate over original hardwood, italian faucets, stainless steel appliances, big deck and yard, separate laundry up and down and 2 car garage. Same tenant for over 10 years, Magee Secondary/McKechnie Elementary School catchment.

#3) Address:6777 145B ST, East Newton, Surrey

May 12 F1212480 $554,000
May 25 F1212480 $654,000 $100,000 18% 18%

Assessment: $640,000

Big lot & house w/2 Suites (2+1) in Basement. Spacious home with 4 Bedroom and 3 bathroom up & 1 Bedroom and 1 bathroom on main. Double staircase with expensive chandeliers and open concept. Bonus 2nd spice kitchen on main. Ample parking infront. Large backyard. Quiet location & yet within walking distance to temple (gurudwara) & bus.

#4) Address:6671 AZURE RD, Granville, Richmond

March 09 V920542 $1,880,000
March 14 V920542 removed
March 19 V938069 $1,880,000 $0 0%
May 12 V938069 $1,550,000 $-330,000 -18%
Open House: May 19, 20
May 23 V938069 $1,780,000 $-100,000 -5% 15%

“Bonus:price sell”…  Offers on May 20… no offers?  ok, raise price.  Ken Xu took this right out of Nancy Li’s playbook and this was so brilliant that he did it with the #5 listing as well

Assessment: $1,649,000

Bonus:price sell.Open house on SAT19th & SUN 20th.1:00-3:00PM.all offer present before sunday(May20)5PM. New house with 5 bedrooms and 5 bathrooms. Walking distance from main library, Minory Park, skytrain and Richmond Centre shopping mall.

#5) Address:3651 BLUNDELL RD, Quilchena, Richmond

March 15 V937282 $1,888,000
May 05 V937282 $1,830,000 $-58,000 -3%
May 12 V937282 $1,550,000 $-338,000 -18%
Open House: May 19, 20
May 23 V937282 $1,790,000 $-98,000 -5% 15%

More “Bonus:price sell.”  Ken Xu has the winning formula

Assessment: $1,817,000

Bonus:price sell.Open house on SAT&SUN. 1:00-3:00PM.all offer present before this sunday (May.20tBRAND NEW LUXURY HOME in Quilchena with Top Quality!! Featuring 3,621 SF of High Standard of Workmanship & Finishing. 5 Bedrooms are ensuited!! Two vaulted ceiling that one is the living room and other is the family room, rarely designed like this! Grand foyer w/ beautiful chandelier. Gourmet kitchen w/ granite island, wok kitchen, built-in cabinets, beautiful H/W floor. Central air-cond, HRV, radiant heating, central vacuum, & electric gate, 2-5-10 warranty. Walk to the dyke. Do not be fooled by “on Blundell”. This is a very quiet & less traffic area!! Drive by to prove it! Show with Pride!! Open House Sat & Sun,


2 responses to “The Weekly Flip Flop – May 25, 2012

  1. May 25, 2012 at 9:22 pm

    Bonus: stupid listing agent.

  2. an observer May 29, 2012 at 9:50 am

    One additional thing to note about the weekly flip flop is that every single property that has been focused on the weekly flip flop over the last month is still for sale – that’s 20 properties. One has dropped by a million dollars and another by a smaller amount but the strategy doesn’t seem to be working… so unfortunate…

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