Vancouver Price Drop

Documenting Vancouver real estate price movements

Desperation Meter – August 9, 2012

The Desperation Meter is a formula I’ve come up with that determines a desperation score by weighting events like price drops, relisting under a new MLS and open houses and re-weighting them by how recent the event occurred.  For more details on the formula click here: https://vancouverpricedrop.wordpress.com/2012/08/02/desperation-meter-august-2-2012/

Here is the top 10


#1 ) Address:1909 TRAFALGAR ST, Kitsilano, Vancouver West

March 09 V931179 $1,880,000 $0 0%
March 13 V931179 $1,790,000 $-90,000 -5%
March 26 V931179 removed
March 31 V940272 $1,790,000 $-90,000 -5%
April 18 V940272 $1,688,000 $-192,000 -10%
May 18 V940272 $1,628,900 $-251,100 -13%
Open House: May 19
Open House: May 26
Open House: Jun 02
June 13 V940272 $1,574,500 $-305,500 -16%
Open House: Jun 21
Open House: Jun 24
June 23 V940272 $1,499,000 $-381,000 -20%
Open House: Jun 26
Open House: Jul 07
July 14 V940272 $1,449,900 $-430,100 -23%
Open House: Jul 14
August 04 V940272 $1,398,000 $-482,000 -26%

Assessment: $1,208,800

Desperation Score: 44.4

Legal Duplex Home w/ Three (3) Suites has been Meticulously maintained & Upgraded. Improvements too numerous to list, incl Major Compontents, drain tiles to roof, wiring, plumbing, furnace, h/w tanks (2) etc. Each suite has own bike/storage locker.The Top Suite: 2 Bdrm & Den on 2 levels / incl private balcony (w/ Water & Mountain Views) & fireplace. The Main floor: 1 Bdrm & Den w/ X-Large Deck & Fireplace. Third Suite: 2 Bdrm Garden Level (Above Ground). This is a ’10’ for the savvy INVESTOR Excellent Revenue Over $5,000 per mth. Great Tenants! A truly rare find. Steps to the Beach, Transit to Downtown & University, Shops & Resutrants Too. Call Lisa for Pixilink Floorplans & Brochure with Full Details. Open House Saturday July 14th 2:00 – 4:00 pm.


#2 ) Address:855 BLUE MOUNTAIN ST, Harbour Chines, Coquitlam

April 16 V943444 $949,000 $0 0%
April 18 V943444 $899,000 $-50,000 -5%
May 09 V943444 $879,000 $-70,000 -7%
Open House: May 20
Open House: May 27
Open House: Jun 03
Open House: Jun 10
Open House: Jun 16
June 18 V943444 removed
June 22 V957843 $799,900 $-149,100 -16%
Open House: Jun 23
Open House: Jun 24
Open House: Jun 30
Open House: Jul 01
July 23 V957843 removed
July 25 V963611 $799,000 $-150,000 -16%
August 08 V963611 $779,000 $-170,000 -18%

Assessment: $738,000

Desperation Score: 43.8

Prime Harbour Chines. Quality custom design & finish materials featured throughout this fine family home. Located on large nicely landscaped private lot. Freshly painted inside and out with many recent upgrades and renovations. Beautiful maple kitchen w/island and comfortable family room leads to huge new vinyl deck covered to enjoy year round. Spacious Master bedroom fit for a King has walk in closet and warm hardwood floors. Luxury main floor bath offers granite counters & jetted tub to relax. Bonus: Brand new basement kitchen, bath, recreation room w/separate entrance great for home office or mortgage helper, Truly one of kind home & property must see to appreciate. Ready to move in and enjoy now!


#3 ) Address:360 E 25TH ST, Upper Lonsdale, North Vancouver

March 24 V939001 $928,000 $0 0%
April 21 V939001 $898,000 $-30,000 -3%
May 17 V939001 $848,000 $-80,000 -9%
Open House: May 19
Open House: May 26
May 30 V939001 $799,900 $-128,100 -14%
Open House: Jun 02
Open House: Jun 03
Open House: Jun 10
Open House: Jun 23
June 27 V939001 removed
July 02 V959830 $779,000 $-149,000 -16%
Open House: Jul 08
Open House: Jul 15
July 24 V959830 $778,888 $-149,112 -16%
Open House: Aug 11
August 08 V959830 $728,000 $-200,000 -22%

Assessment: $701,100

Desperation Score: 43.2

Large corner lot. House totally upgraded. High yew hedge provides privacy. South west city views. Fantastic starter home or suitable for a small family with excellent revenue stream from the suite which is bright,airy and fully equipped. Both suites have independent laundry and separate outside entrance. For this quality house, with a suite, it is the best value on the North Shore.OPEN HOUSE, SATURDAY 2-4


#4 ) Address:# 339 5695 CHAFFEY AV, Central Park, Burnaby

March 09 V933218 $469,900 $0 0%
March 13 V933218 $459,900 $-10,000 -2%
March 30 V933218 $445,000 $-24,900 -5%
April 11 V933218 removed
April 14 V943074 $445,000 $-24,900 -5%
April 21 V943074 $429,900 $-40,000 -9%
May 11 V943074 removed
May 17 V950694 $418,000 $-51,900 -11%
Open House: May 17
June 23 V950694 $398,000 $-71,900 -15%
July 17 V950694 $389,000 $-80,900 -17%
August 01 V950694 removed
August 09 V965654 $381,500 $-88,400 -19%

Assessment: $438,000

Desperation Score: 42.8

PRICED TO SELL!!! TOP FLOOR CORNER UNIT. LARGE BRIGHT full 2BDRM. Spacious open Living/Dining Room. Gas fireplace and Hot Water included in maintenance fee. Kitchen features newer appliances, granite counter tops and an eating nook. LARGE MASTER BEDROOM has a WALK-IN CLOSET and full 5 pce Ensuite. Insuite Laundry has enough room for extra storage, den or other flex space. 1 Parking and 1 Storage Locker. Bike Room, very healthy contingency fund. Excellent location near Schools, Skytrain, Central Park and Metrotown Mall. QUICK POSSESSION POSSIBLE.


#5 ) Address:7870 2ND ST, East Burnaby, Burnaby

March 09 V927627 $685,000 $0 0%
March 13 V927627 $675,000 $-10,000 -1%
April 10 V927627 removed
April 18 V943823 $664,900 $-20,100 -3%
May 01 V943823 $649,900 $-35,100 -5%
Open House: May 26
Open House: May 27
Open House: Jun 03
June 07 V943823 removed
June 15 V956799 $639,000 $-46,000 -7%
Open House: Jun 23
Open House: Jun 24
Open House: Jun 30
July 21 V956799 $628,000 $-57,000 -8%
July 30 V956799 removed
August 02 V964735 $628,000 $-57,000 -8%

Assessment: $642,000

Desperation Score: 39.7

Beautifully well kept & the best value 1/2 duplex in Burnaby, large lot: 4,818 sq ft (33×146 ft), fenced backyard facing south, bright. This gorgeous home features 3 good size bedrooms on main floor, 2 full bathrooms up, master bedroom has 4 piece ensuite with jacuzzi, new laminated floor on living & dining room, newer paint, vaulted ceiling on living room, elegant layout you will love it. The bright basement one bedroom suite could be a mortgage helper. Excellent location! Close to one of Burnaby’s top private elementary schools & walking distance to Burnaby’s best high school – St Thomas More Collegiate. Easy access to many amenities. Best buy & must see! Open Sat (Aug 4), 2-4pm.


#6 ) Address:9165 211B ST, Walnut Grove, Langley

June 08 F1214979 $532,000 $0 0%
Open House: Jun 16
Open House: Jun 23
June 28 F1214979 removed
June 30 F1216908 $532,000 $0 0%
Open House: Jul 07
July 11 F1216908 $524,900 $-7,100 -1%
July 13 F1216908 $514,000 $-18,000 -3%
July 24 F1216908 $499,000 $-33,000 -6%
Open House: Jul 28
Open House: Jul 29
July 27 F1216908 $494,000 $-38,000 -7%
August 02 F1216908 $484,000 $-48,000 -9%

Assessment: $459,000

Desperation Score: 39.2

Desirable Country Grove home completely updated with a NEW roof, NEW countertops, NEW 50 gallon hot water tank, NEW flooring, NEW appliances, NEW ensuite, NEW fencing and NEW Double French Doors leading to your lovely NEW Deck. Fantastic location. 1 block to French Immersion School and Walnut Grove Secondary, rec center, parks and trails. Hurry before this dream home is gone! (NOTE: SF includes partially enclosed garage).


#7 ) Address:# 8 3127 SKEENA ST, Riverwood, Port Coquitlam

May 03 V947131 $484,900 $0 0%
May 17 V947131 $479,900 $-5,000 -1%
Open House: May 19
Open House: May 20
May 24 V947131 $474,900 $-10,000 -2%
June 06 V947131 $469,900 $-15,000 -3%
Open House: Jun 16
Open House: Jun 17
June 21 V947131 $465,900 $-19,000 -4%
Open House: Jun 23
Open House: Jun 24
June 30 V947131 $462,900 $-22,000 -5%
Open House: Jul 01
Open House: Jul 08
July 10 V947131 $454,900 $-30,000 -6%
Open House: Jul 21
Open House: Jul 22
July 21 V947131 $452,900 $-32,000 -7%
July 27 V947131 $449,900 $-35,000 -7%
Open House: Jul 28
Open House: Jul 29

Assessment: $445,000

Desperation Score: 38.6

Immaculate 3 level townhome with 3 good sized bedrooms & 3 1/2 bathrooms located in the ‘Rivers Walk’ Complex in the Riverwood area of Port Coquitlam. Great floor plan. This is a corner unit & has a full length driveway & a double garage. It has 9′ ceilings on the main floor, an island & laminated flooring in the kitchen area w/an adjacent exterior balcony looking out onto a large fenced backyard. There is also a family room on the main floor w/a gas fireplace. On the upper floor, the master bedroom is quite large & it comes w/a walk in closet & a 3 piece ensuite w/shower. The washer & dryer are here. The lower floor has a large rec room w/walkout to the backyard & a 4 piece bathrm. All 3 levels of home are prewired for internet! PUBLIC OPEN: Saturday & Sunday July 28&29, 1-4 PM.


#8 ) Address:340 SOUTHBOROUGH DR, British Properties, West Vancouver

March 09 V919542 $4,088,000 $0 0%
April 03 V919542 $3,698,000 $-390,000 -10%
May 10 V919542 removed
May 19 V951089 $3,695,000 $-393,000 -10%
Open House: May 24
Open House: May 27
Open House: May 31
Open House: Jun 03
Open House: Jun 10
June 13 V951089 $3,495,000 $-593,000 -15%
Open House: Jun 17
Open House: Jun 14
Open House: Jun 24
July 05 V951089 $3,295,000 $-793,000 -19%
Open House: Jul 08
Open House: Jul 12
Open House: Jul 15
Open House: Jul 14
July 17 V951089 removed
July 20 V962823 $3,295,000 $-793,000 -19%
Open House: Jul 22
Open House: Aug 11

Assessment: $2,292,000

Desperation Score: 38.6

Gorgeous Hollingsworth Home on a 21,000 sq ft private property overlooking Capilano Golf & Country Club. Thoughtful open plan ideal for entertaining featuring a wall of sliding doors connecting the interior with patios, decks, & mature landscaping beside the 17th Green & 18th Tee of Canada’s finest Golf Club! The energy, beauty, & quality of this British Properties estate must be seen to be truly appreciated. Fabulous modern finishing masterfully designed for all principle rooms to face the golf course/gardens & flood with natural light throughout the day. Downsize without compromise or customize, add square footage, & create your dream family home. Here is your opportunity to own a renowned Russel Hollingsworth Home in an irreplaceable setting. Call for your private showing. Open House: Sat, August 11th, 2-4 PM.


#9 ) Address:640 ROCHESTER AV, Coquitlam West, Coquitlam

March 14 V936987 $1,538,900 $0 0%
May 03 V936987 $1,298,000 $-240,900 -16%
Open House: May 20
June 16 V936987 removed
June 20 V957421 $1,298,000 $-240,900 -16%
Open House: Jun 24
Open House: Jul 01
July 09 V957421 removed
July 13 V961668 $1,298,000 $-240,900 -16%
Open House: Aug 04
August 02 V961668 removed
August 04 V965249 $1,298,000 $-240,900 -16%

Assessment: $1,118,000

Desperation Score: 38.4

West Coquitlam’s finest neighbourhood now showcases an ideal executive residence. Solidly custom built by current owner offers both finer lifestyle & deluxe self contained accomm for extended family. The quality is in the durability of construction such as 8″ insulated concrete floors & structural panels for energy efficiency, w/13 zone heating sys & top of the line German boiler. Elegant main living space offers 5 BRs, 2 level living areas w/18ft ceilings in the bright Family room w/adjoining huge veranda. Separate secondary main floor living space is ideal for parents. Bonus is the 3rd lower level s/c suite. Enclosed heated 4 car parking/workshop & addt’l RV parking. River views. This home has a lot to offer. Priced to sell!


#10 ) Address:2656 W 41ST AV, Kerrisdale, Vancouver West

March 09 V935348 $2,488,000 $0 0%
April 11 V935348 $2,388,000 $-100,000 -4%
April 24 V935348 $2,260,000 $-228,000 -9%
May 23 V935348 $1,998,000 $-490,000 -20%
Open House: May 26
Open House: May 27
May 28 V935348 removed
May 31 V953373 $1,955,000 $-533,000 -21%
Open House: Jun 02
Open House: Jun 16
June 25 V953373 removed
June 29 V959234 $1,880,000 $-608,000 -24%
Open House: Jul 01
Open House: Jul 08
Open House: Jul 15
Open House: Jul 22
Open House: Aug 05

Assessment: Building Unfinished at time of Assessment

Desperation Score: 38.4

Brand new family home in the heart of KERRISDALE. 2-5-10 yr warranty. Extra deep 33×134 lot. Extremely quiet inside. Light, bright & airy; overheight ceilings w/skylites throughout. Top of line appliances: Viking, Sub Zero, Bosch. Beautiful dream kitchen perfect for entertaining or great family moments. Floor to ceiling glass sliding doors off kitchen area brings the outdoors in. Meticulous attention to detail from designer tiles to restoration hardware touches. All upstairs bedrooms are ensuite. 2 bedroom basement can be suited w/own laundry. A must see at this spectacular value. Kerrisdale Elem & Pt Grey Sec catchment. Also close to best private schools: Crofton House, St George’s.


 

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7 responses to “Desperation Meter – August 9, 2012

  1. Craig Sterling August 10, 2012 at 3:09 pm

    these drops are still pretty mild by uk or us standards… crash or slow deflation??

    • an observer August 10, 2012 at 4:08 pm

      At this point, neither for most of the properties on the list. This is just a cut in ridiculous expectations in most cases but over the coming year(s), I believe, you’ll start seeing a crash

  2. Montery August 10, 2012 at 6:32 pm

    How come some of the addresses (V962823 and V964735 for example) have different scores between last scoring and this scoring? Was there another tweak to the formula? Just curious. 🙂

    • Montery August 10, 2012 at 6:33 pm

      Oops Meant F1216908 instead of V964735

    • an observer August 10, 2012 at 6:39 pm

      The formula is time based so as things like price changes and relistings get further away from the current date, the score for those things goes down. If you click on the the link to go to the first one it will explain the time based adjustment multiplier

  3. vinoverde August 10, 2012 at 9:35 pm

    Just amazing, very interesting work.

  4. designer69 August 11, 2012 at 9:47 am

    #3 Is priced way too high for the market! There was a home in the same area that was brand new, quite nice, that was price adjusted for at least a year during good market times. It went under $1 million. This is a lot, nothing more and you’ll find similar properties without semi’s driving past the front of your home for the same price or less. This seller is a dreamer.

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