Vancouver Price Drop

Documenting Vancouver real estate price movements

The Weekly Flip Flop – June 15, 2012

We’re back with the weekly flip flop tracking homes that were increased by the largest percentange over the past week.  The absurdity continues!


#1) Address:5156 SIDLEY ST, Metrotown, Burnaby

March 28 V939651 $849,000
April 08 V939651 removed
June 14 V956496 $1,228,000 $379,000 45% 45%

This one is a little confusing – is this a re-flip after an April purchase?  Or did they receive a lot of interest at 849K at that time and thought they had underpriced it but you wouldn’t expect them to not wait 2 months to relist.  Regardless, 1.2 million dollars for an 8000sqft lot in a dodgy area of Burnaby sure doesn’t seem like value to me.

Assessment: $832,300

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Wow! Large lot in Metrotown area. 59×132. Build your dream home in the best location, close to transit, schools, shopping and recreation centre. Don’t miss out on this opportunity!


#2) Address:9674 137TH ST, Whalley, North Surrey

March 12 F1206174 $670,000
March 14 F1206174 removed
June 14 F1215559 $828,888 $158,888 24% 24%

Only listed for a couple of days initially then relisted 3 months later at a 24% increase and a whopping five 8’s in the price!!!  Is this another short term flip? 

Assessment: $371,500

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Investor Alert!!! Great holding property. OCP for the area leaning towards development and rezoning, eg office building/medical building. This could be a land assembly with the other homes in the area.


#3) Address:13564 87A AV, Queen Mary Park Surrey, Surrey

June 06 F1214711 $399,900
Open House: Jun 10
June 14 F1214711 $489,900 $90,000 23% 23%

Assessment: $438,500

7399 SF LUC LOT – GREAT FOR INVESTORS AND FIRST TIME BUYERS. 3 Bedroom plus den 1098 SF rancher. Well cared for. Huge covered deck, big fully fenced backyard. Double detached garage also includes BIG SHOP! Kitchen with oak accents/cabinets. Wood burning F/P. Great for investors or first timers. Steps to Bear Creek Park and shops! Will not last. DON’T BE DISAPPOINTED. SHOWN BY APPOINTMENT ONLY!


#4) Address:4237 CASTLEWOOD CR, Garden Village, Burnaby

March 29 V939858 $998,000
May 17 V939858 removed
June 15 V956584 $1,188,000 $190,000 19% 19%

Assessment: $1,026,700

Prime Garden Village area on a very quiet street. This 3,000 SqFt two-storey house is perfect for first-time buyers or investors. 6,600 SqFt lot with double detached garage and lane access. Total six bedrooms with four full bathrooms. Downstairs has a separate accommodation with kitchen, great mortgage helper! Nice backyard ideal for gardeners or for entertaining. Conveniently located, walking distance to both levels of schools, BC Institute of Technology, Metrotown and skytrain. Great investment for both move-in or rebuild.


#5) Address:2508 WHATCOM RD, Abbotsford East, Abbotsford

March 14 F1205680 $729,900
April 09 F1205680 $649,900 $-80,000 -11%
May 11 F1205680 $624,900 $-105,000 -14%
June 15 F1205680 $739,900 $10,000 1% 18%

Can’t sell for 3 months so let’s raise the price by 18%…

Assessment: $513,000 (building unfinished at time of assessment)

This brand new 2 storey w/bsmt home features a great room floor plan with 7 bedrooms and 5 baths. The main floor has a functional bright and open plan, with hardwood throughout, marble counters and pantry. Upstairs features a spacious master bedroom with a beautiful ensuite bath. Stand on the heated patio off the master bedroom and enjoy beautiful views of Mount Baker. Located close to all amenities including shopping, restaurants, schools, transportation, parks and golf course.

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2 responses to “The Weekly Flip Flop – June 15, 2012

  1. CBM June 15, 2012 at 11:09 pm

    $828,888 in Whalley……SERIOUSLY! Now I know the world has gone nuts.

  2. dg June 16, 2012 at 7:40 am

    Just weird and wacky,

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