Vancouver Price Drop

Documenting Vancouver real estate price movements

If I Lost a Million Dollars – June 12, 2012

Ok, technically these people haven’t lost a million dollars and most likely will make millions of dollars in profit if they sell anywhere near asking but still interesting.  The homes in this list are world class, I don’t think there is much doubt about that.  The problem is that you could build or buy the same home in much more desirable places in the world for a third of the price.

Here are the top 10 droppers by total $ amount and to crack this list you currently need a $1.6 million drop.

Address:6750 232 ST, Salmon River, Langley

March 09 F1125118 $11,250,000 $0 0%
May 17 F1125118 $8,000,000 $-3,250,000 -29%

Assessment: $1,020,495 (Farm land – value set by BC Regulation 411/95)

“Fairmeade Farm” 156 acre, level, cleared & fenced equestrian farm. First time offered, this sprawling ranch occupies the northeast corner of 232 St & 64 Ave with 2,634.48 ft frontage & depth of approx. 2,644 sf. The facility boasts a charming ranch style home, guest house & 3 more caretaker homes. Additional features include tennis court & massive in ground swimming pool. Call for full details.

Address:5347 KEW CLIFF RD, Caulfeild, West Vancouver

March 09 V906191 $12,980,000 $0 0%
April 11 V906191 $9,980,000 $-3,000,000 -23%

Assessment: $8,286,000

A magnificent waterfront residence by Goldwood Homes on one of the most desirable streets in the heart of Caulfeild. This wonderful modern classic home offers a dramatic open floor plan with over 5300 sq ft of luxurious family living and approx 3000 sq ft patios and sundecks with spectacular views to Bowen Island. This 3 level 4 bedroom home also features a curved staircase, wine cellar, modern yet functional kitchen, extensive millwork & 18 ft floor to ceiling height in the living rm & French doors leading onto spacious walkout patios with wonderful outdoor swimming pool & jacuzzi. Owner spent millions of dollars on numerous upgrades including new flooring and a paved trail walking right onto the beach and water!

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.

Address:3820 SUNRIDGE DR, Whistler, Whistler Pemberton

March 09 V922151 $12,500,000 $0 0%
March 13 V922151 $9,750,000 $-2,750,000 -22%

Assessment: $8,698,000

Akasha! Located on Whistler Mountain, this masterpiece home is in a class of its own. From the 480 year old central axis Cedar Tree to the Totems that flank the indoor pool, everything about this extraordinary property is awe-inspiring. Poised near the top of one on Whistler’s most exclusive neighborhoods, Sunridge Plateau, where the ski slopes of Whistler Mountain are a short walk from your front door…This property has extensive views of snow capped mountains, green valleys floors, Whistler Village and Golf Course. The three levels of this exclusive property radiate from a central backbone of the home created from a 50 foot high, 480 year old Red Cedar tree trunk around which a wooden staircase spirals.

Address:6801 CRABAPPLE DR, Whistler, Whistler Pemberton

March 09 V920898 $6,999,000 $0 0%
April 18 V920898 $8,450,000 $1,451,000 21%
June 06 V920898 $5,999,000 $-1,000,000* -14%

Note that this property actually dropped $2.451M from their April price and they should have been last weeks weekly drop winner.  I’ll update my algorithm to make sure I don’t miss these flip floppers.

Assessment: $5,274,000

Tranquility and privacy are words that nicely describe 6801 Crabapple Drive. A private lane leads to this secluded estate home situated on nearly 5 acres of combined land. The well designed floor plan offers the opportunity for large scale entertaining as well as cozy gatherings. Features of the home include dramatic 30 ft ceilings, a 2 way driveway with porte-cochere, a stunning master suite with massive spa like ensuite, and canoe dock with access to Alta Lake just steps from the back door. Enjoy privacy and a gentle respite from the outside world in this magnificent Lodge.

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)

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!!

Address:2888 PANORAMA DR, Deep Cove, North Vancouver

March 09 V892989 $12,998,000 $0 0%
April 24 V892989 $10,998,000 $-2,000,000 -15%

Assessment: $5,947,000

This magnificent WF estate on over 1/2 acre above Indian Arm’s most dramatic cliff & rock formations. This res is wrapped in 270 degrees of coastline vws. Exquisitely crafted, taking 6 painstaking yrs to perfect offering 12,922 sqft w/milled beams, slate roof, crafted w’dwork, natural stone & hardw’ds, vaulted ceilings, timber & steel beam constr, stone FP’s, Chef’s kit w/breakfast bar, EA, adj FR, grand DR priv study. Kids paradise down w/custom I/D bsketb’ll ct, state-of-the-art theatre, fabulous billiard rm w/wet bar, games rm w/professional dart board & air hockey arena. Most incredible hidden passage to a Old World wine cellar & guest accomm. BBQ centre, manicured lawns/gardens & OD F/P. A stunning work of art!

Address:2770 BELLEVUE AV, Dundarave, West Vancouver

March 09 V906828 $14,800,000 $0 0%
March 31 V906828 removed
April 05 V941288 $13,980,000 $-820,000 -6%
May 23 V941288 $12,900,000 $-1,900,000 -13%

Assessment: $10,282,000

Exquisite world class res in coveted Bellevue Ave offering spec City/Ocean views. Designed by Brad Lamoreux w/unique features, rich finishes, finest workship. Extensive windows/french doors allowing max light, metal slate-like roof,exquisite crown mldgs & millwork, top grade oak flrs. Class & elegance evident from skylit foyer leading to huge LR, famrm, breakfast area off stunning Kitch all overlooking Ocean. Banquet sized DR leads to private courtyard. Lower level features home theatre/recrm, gym, outdoor pool and elevator.

Address:7325 CARNARVON ST, Southlands, Vancouver West

March 09 V926474 $13,500,000 $0 0%
May 30 V926474 $11,800,000 $-1,700,000 -13%

Assessment: $6,409,150 (Farm land – value set by BC Regulation 411/95)

This John Hollifield designed equestrian estate, built by Keystone Construction, took its inspiration from the French Chateau. Set on a vast 106,000 sqft lot., the epic 7,000 sq.ft. residence features custom window treatments throughout, limestone & hardwood flooring, bespoke fireplaces & over height ceilings. The formal entertaining areas include a Butler’s serving pantry off, while the kitchen is genuinely exceptional. Casual entertaining & family living areas include a large family room plus games room. 5 Ensuite Bedrooms up. The ‘ultimate’ 8 stall barn by Steve Tidball includes caretaker’s suite & professional training facilities. Exceptional quality as evidenced in the bespoke finishings by David Drummond Clarke

Address:22940 48TH AV, Salmon River, Langley

March 17 F1206833 $5,800,000 $0 0%
April 14 F1206833 $4,200,000 $-1,600,000 -28%

Assessment: $989,000

Investor Alert! Development potential here. 10.17 acres that are NOT in the ALR, located minutes from Fraser Hwy and not far from the heart of Langley. Currently zoned RU1 with future potential to rezone with OCP amendment. Don’t miss out out on a rare opportunity to own ALR exempt property. Call today to schedule a viewing.


4 responses to “If I Lost a Million Dollars – June 12, 2012

  1. gary June 12, 2012 at 8:41 pm

    vancity is seriously a joke….. can’t believe the prices have gone this whacked unchecked…

  2. harbottle June 13, 2012 at 5:09 am

    who are paying these prices? and how can they afford it?

  3. buffates June 13, 2012 at 7:04 am

    These price drops baffle the mind.

  4. jr June 13, 2012 at 10:05 am

    I train on my bike a lot in the FV around a lot of these large hobby farms and plantations and there is an astounding number for sale. One in Abby finally sold after being on the market for close to two years. If I was smart enough I’d try to dig up the price history on it.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: