Vancouver Price Drop

Documenting Vancouver real estate price movements

Monthly Archives: September 2012

Desperation Meter – September 26, 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.  Some highlights

  • The only region to appear more than once is Burnaby which made the list 2 times
  • 8 of 10 listings are listed below assessment

#10 ) Address:# 106 3901 CARRIGAN CT, Government Road, Burnaby (unranked last week)

March 09 V928289 $289,000 $0 0%
March 15 V928289 $279,000 $-10,000 -3%
April 12 V928289 $269,900 $-19,100 -7%
April 17 V928289 removed
April 19 V944191 $269,900 $-19,100 -7%
May 23 V944191 $259,900 $-29,100 -10%
June 29 V944191 $249,800 $-39,200 -14%
July 25 V944191 $239,000 $-50,000 -17%
August 24 V944191 $229,900 $-59,100 -20%
September 18 V944191 removed
September 21 V972752 $209,900 $-79,100 -27%
Open House: Sep 22
Open House: Sep 23

Assessment: $264,700

3 sales in this property last year averaging 3% BELOW assessment.  This one is currently listed at 21% BELOW assessment.  This court ordered sale is sold ”As is Where is”.   No thanks!

Desperation Score: 35.7

Lougheed Estates II – Court Ordered Sale !! Spacious 3 bedroo, 2 bathroom, above ground corner unit in well maintained building, just a short 5 minute walk to Sky-Train and Lougheed Mall. This home boasts over 1200 square feet of living area with a newer upgraded kit, counter-tops, laminate floors, gas fireplace and more. Massive master bdrm with 3 pc ensuite and also featuring large secondary bedrooms. Long term maintenance program in place with 1 year old roof. Complex amenities include indoor swimming pool, sauna, rec center and workshop. Maintenance fee includes heat, hot-water and gas. Convenient location close to schools, shopping, transportation and Sky-train. Unit shows reasonably well, but is sold on “As is Where is” basis.


#9 ) Address:518 E 1ST ST, Lower Lonsdale, North Vancouver (ranked #5 last week)

July 15 V962307 $895,000 $0 0%
Open House: Jul 15
Open House: Jul 21
Open House: Jul 22
July 25 V962307 $875,000 $-20,000 -2%
Open House: Jul 28
Open House: Jul 29
July 31 V962307 $850,000 $-45,000 -5%
Open House: Aug 04
Open House: Aug 05
August 09 V962307 $838,000 $-57,000 -6%
Open House: Aug 11
Open House: Aug 12
August 15 V962307 $825,000 $-70,000 -8%
Open House: Aug 19
August 22 V962307 $815,000 $-80,000 -9%
Open House: Aug 25
Open House: Aug 26
September 05 V962307 removed
September 09 V970178 $795,000 $-100,000 -11%
Open House: Sep 09
Open House: Sep 15
September 19 V970178 $785,000 $-110,000 -12%

Assessment: $670,900

Desperation Score: 36.5

“Estate sale, must be sold.” – demographics point towards more and more of these estate sales helping bring down the market

Don’t miss seeing this well maintained bungalow featuring 2 fully finsihed 2304 sq ft on 2 levels. 3 bedrooms up/2 down & 2 baths (1) down & recreation room, wet bar & storage. Located on a 50×120′ nicely landscaped lot. Fenced backyard (safe for your little ones & pets). Very private & sunny backyard for your summer barbeques & entertaining your friends. Newly painted (June 2012) exterior & main floor, roof 2010, thermo windows thruout, enclosed porch for a quiet coffee in the morning while looking at your garden. Bonus: Mortgage helper 2nd kitchen plus 2 beds with private entrance with minor modification. Single garage w/lane access. Estate sale, must be sold. Bring your family-you would have to call this place home. PUBLIC OPEN: Saturday, September 22nd, 2-4 PM.


#8 ) Address:5625 LIMBERT RD, Agassiz, Kent (ranked #6 last week)

March 09 H1200878 $519,900 $0 0%
April 18 H1200878 $499,900 $-20,000 -4%
May 31 H1200878 removed
June 16 H1202542 $479,700 $-40,200 -8%
July 25 H1202542 removed
July 26 H1203102 $467,700 $-52,200 -10%
September 09 H1203102 removed
September 11 H1203735 $457,700 $-62,200 -12%
September 17 H1203735 removed
September 18 H1203827 $435,700 $-84,200 -16%

Assessment: $475,000

Desperation Score: 36.6

Peace and quiet on 8.8 acres! Warm, rustic and cozy 3 bedroom “Panabode like” rancher with basement log home! Vaulted ceilings with exposed beams! Spacious open layout! 3’rd bathroom roughed-in in basement. 200 Amp service. Massive wrap around sun deck with farm pasture views! A 26’x41′ workshop hidden away up the trail from the house. A secondary driveway is in place that leads to a fabulous view building site on a partly cleared level bench of land. Ultimate privacy! Nice sunny southern views from the existing home that get better the higher you go! Bring on the motorbikes and quads! Harrison Hot Springs, Lake and golfing is only 12 minutes away. This is the perfect recreational getaway or your view acreage opportunity!


#7 ) Address:# 29 22788 WESTMINSTER HY, Hamilton, Richmond (unranked last week)

May 10 V949030 $509,800 $0 0%
May 19 V949030 $499,000 $-10,800 -2%
June 15 V949030 $489,900 $-19,900 -4%
June 25 V949030 removed
June 28 V958935 $479,000 $-30,800 -6%
Open House: Jul 08
July 15 V958935 $459,900 $-49,900 -10%
July 28 V958935 $449,000 $-60,800 -12%
September 09 V958935 $439,000 $-70,800 -14%
September 11 V958935 removed
September 13 V970808 $439,000 $-70,800 -14%
Open House: Sep 23
Open House: Sep 30
September 26 V970808 $419,000 $-90,800 -18%

Assessment: $461,100

Desperation Score: 36.7

4 units sold last year for an average of 11% BELOW assessment and this unit is currently listed at 9% BELOW assessment.  Interestingly, 3 of the sales last year all occurred on exactly October 17 and averaged almost 15% BELOW assessment while the one sale in June sold for 1% BELOW assessment.

Rare find, south facing townhome with 3 bedrooms and 2 bathrooms!Located on the quiet side of the complex facing open area and backing onto a greenbelt. Good sized backyard completely fenced and gated. Features include granite counters, laminate flooring up and down, top quality stainless steel appliances, with balconies at the front & back of the townhouse, tandem garage with loads of storage. Excellent location close to Wal-Mart, Starlight Casino, community centre, schools and rapid transit. Rapidly growing popular area. 2 pets allowed, rentals allowed.


#6 ) Address:# 10 2986 COAST MERIDIAN RD, Birchland Manor, Port Coquitlam (unranked last week)

May 12 V949714 $389,900 $0 0%
Open House: May 27
Open House: Jun 16
June 19 V949714 $379,900 $-10,000 -3%
July 23 V949714 removed
July 26 V963681 $375,000 $-14,900 -4%
Open House: Jul 29
July 27 V963681 removed
July 29 V964359 $359,000 $-30,900 -8%
August 14 V964359 $339,000 $-50,900 -13%
September 06 V964359 $319,000 $-70,900 -18%
September 20 V964359 removed
September 22 V972985 $319,000 $-70,900 -18%

Assessment: $373,000

Desperation Score: 37.2

2 sales last year averaging 1% BELOW assessment and this one is currently listed at 16% BELOW assessment!  “Bonus – fully fenced backyard, complete with a converted shop into a hair salon.”  I don’t call having to spend time and money converting the hair salon back into something usable a bonus…

WOW!! Completely redone. Great family complex central to all levels of schools, recreation, transit and shopping. This unit offer new: windows, maple hardwood floors, custom kitchen with all new tole work, designer paint, all new high end mouldings/trim work to accent the detailed finished, some slate floors. Updated bath with new fixtures and tile work. The master offers a huge Hollywood style walk in closet converted from the third bedroom, which you could easily return to 3 bedrooms. The top floors has a den/office with a door to the roof top deck. Bonus – fully fenced backyard, complete with a converted shop into a hair salon. Hurry on this one, with it’s quiet location and updated it wont last.


#5 ) Address:855 BLUE MOUNTAIN ST, Harbour Chines, Coquitlam (ranked #3 last week)

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%
August 28 V963611 $749,000 $-200,000 -21%
Open House: Sep 09
September 12 V963611 $729,000 $-220,000 -23%
Open House: Sep 23

Assessment: $738,000

Desperation Score: 38.1

As I mentioned in the Weekly Drop posting, this is in a nice spot in Coquitlam so too bad their incredible greed has probably cost them a lot of money

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! Open Sun Sept 9 2-4pm


#4 ) Address:1537 E 5TH AV, Grandview, Vancouver East (Ranked #2 last week)

March 09 V923259 $895,000 $0 0%
April 08 V923259 removed
April 12 V942434 $793,000 $-102,000 -11%
June 07 V942434 removed
June 09 V955548 $789,000 $-106,000 -12%
June 15 V955548 $759,000 $-136,000 -15%
June 30 V955548 $729,000 $-166,000 -19%
July 24 V955548 $699,000 $-196,000 -22%
August 11 V955548 $679,000 $-216,000 -24%
August 24 V955548 $629,000 $-266,000 -30%
September 07 V955548 $609,000 $-286,000 -32%
September 18 V955548 $629,000 $-266,000 -30%

Assessment: $686,000

Desperation Score: 39.1

Photoshop has turned “Blue Tarp House” into “Patriotic Canadian Tarp House”

25×122 / 3050sq.ft. lot just half a block to Commerical Drive on 5th Ave. Fantastic location. Duplex property with RM-4 zoning. For sale by court order. All measurements are approx. Buyer to verify. Property sold as-is where-is. Restore the duplex home (circa 1912) or build new. Vibrant community. Easy transit connect to UBC, downtown. Call to discuss your new home opportunities!


#3 ) Address:12470 BLUE MOUNTAIN CR, Northeast, Maple Ridge (unranked last week)

April 02 V940681 $698,000 $0 0%
August 03 V940681 removed
August 06 V965433 $475,000 $-223,000 -32%
August 17 V965433 $449,000 $-249,000 -36%
September 06 V965433 $429,000 $-269,000 -39%
September 21 V965433 $389,000 $-309,000 -44%

Assessment: $526,000

Desperation Score: 39.3

VancouverPriceDrop.WordPress.Com Hall Of Fame nominee!  CAPE COD CRACK SHACK doesn’t quite epitomize Vancouver real estate as much as million dollar Blue Tarp House but both are worthy of the Hall of Fame

CAPE COD ON 1 ACRE! Nice curb appeal to this home with upstairs bedroom dormer windows. Lots of parking, double enclosed garage, nifty brickwork at the front, large covered sundeck at the back, off the dining and living room areas. Main floor has huge living and dining rooms, family room with gas fireplace, kitchen with wood cabinets and island, large laundry room. Two half baths on this level. Upstairs are 4 bedrooms, a full bathroom, and a full ensuite off the master. The basement is part and unfinished. Court Order Sale, as-is, extensive damage to home throughout, mold, etc. view photos on Realtor website before requesting a viewing. Check with your bank for financing first, as the home is without an occupancy permit.


#2 ) Address:1881 DUTHIE AV, Montecito, Burnaby (ranked #4 last week)

May 16 V950500 $1,228,000 $0 0%
Open House: May 19
Open House: May 20
Open House: May 27
May 26 V950500 $1,199,000 $-29,000 -2%
Open House: Jun 10
June 12 V950500 $1,148,000 $-80,000 -7%
Open House: Jun 17
Open House: Jun 23
Open House: Jun 24
June 20 V950500 $1,078,000 $-150,000 -12%
Open House: Jul 08
July 12 V950500 removed
July 14 V962071 $998,000 $-230,000 -19%
Open House: Jul 22
Open House: Jul 28
Open House: Aug 05
Open House: Aug 12
August 22 V962071 removed
August 25 V968016 $989,000 $-239,000 -19%
September 12 V968016 $979,900 $-248,100 -20%
September 26 V968016 $949,000 $-279,000 -23%

Assessment: $752,100

Desperation Score: 40.7

Awesome, the realtor trying to avoid getting stuck with the lazy realtor of the year award updated their description this week!!! From “Open House Saturday 2-4pm” to “Open House Sunday 2-4pm”!!!

Open House Sunday 2-4pm


#1 ) Address:34463 ROCKRIDGE PL, Hatzic, Mission (Ranked #1 last week)

March 09 F1202886 $499,000 $0 0%
April 13 F1202886 removed
May 04 F1211519 $489,900 $-9,100 -2%
June 29 F1211519 $469,900 $-29,100 -6%
July 28 F1211519 $464,900 $-34,100 -7%
August 01 F1211519 $459,900 $-39,100 -8%
August 03 F1211519 $458,900 $-40,100 -8%
August 09 F1211519 $457,900 $-41,100 -8%
August 10 F1211519 $456,900 $-42,100 -8%
August 15 F1211519 $455,900 $-43,100 -9%
August 17 F1211519 $454,900 $-44,100 -9%
August 22 F1211519 $453,900 $-45,100 -9%
August 24 F1211519 $452,900 $-46,100 -9%
August 29 F1211519 $451,900 $-47,100 -9%
September 01 F1211519 $450,900 $-48,100 -10%
September 06 F1211519 $449,900 $-49,100 -10%

Assessment: $494,000

Desperation Score: 53.8

Either they can’t afford to lower it any further or maybe they have an offer with subjects.  I do feel a little bad for these people although they tremendously overpaid for the property in 2007 by any measure

Huge Value! This home was purchased in 2007 for $540,000! Lavish rancher with loft in exclusive Rockridge Estates! All your daily living needs are met on the luxurious main floor without the bother of negotiating stairs! Enjoy the spacious kitchen overlooking park-like backyard on tranquil greenbelt, dining room, living room, office, the Master Bedroom boasts ensuite with soaker tub and shower! Extra space upstairs with bedroom, bathroom and games room. In-floor radiant heating, oversized double garage and large driveway, secure gated neighborhood with low $40 per month strata, make your move today!

Vancouver East Spotlight – September 26, 2012

It’s been a month so once again here are the top 10 properties currently listed in Vancouver East with the largest overall drop in asking price since early March.  Please note that the listings are now in reverse order so starting with #10 and going up to #1

Some Highlights

  • It takes a 19% drop to make this top 10.  The previous 4 months were 18%, 17%, 15% and 13%
  • 5 of 9 listings are now below assessment

#10 ) Address:6495 GLADSTONE ST, Killarney, Vancouver East

March 09 V911369 $1,238,000 $0 0%
March 31 V911369 removed
May 02 V946873 $1,098,000 $-140,000 -11%
June 30 V946873 removed
September 16 V971890 $999,000 $-239,000 -19%

Assessment: $1,025,000

Killarney Area! Only 22 years old with 3 level owner occupied house was featured 6 bedrooms, 4 full bathrooms, lot 40′ X 120′, 2880 Sq.Ft., solid hardwood flooring, high ceiling entrance, lots of skylights, fireplace, spacious living room & kitchen, existing mortgage helper, double garage and fencing all around!


#9 ) Address:4278 JOHN ST, Main, Vancouver East

May 12 V949635 $930,000 $0 0%
May 16 V949635 $870,000 $-60,000 -6%
June 06 V949635 $829,000 $-101,000 -11%
July 11 V949635 $799,000 $-131,000 -14%
August 11 V949635 $749,000 $-181,000 -19%

Assessment: $779,100

“Motivated Seller. All offers considered.”  Do you smell that?  Smells like desperation.  Another case of someone who would have sold it for much more if they weren’t so greedy back in May.

Motivated Seller. All offers considered.


#8 ) Address:2008 E 61ST AV, Fraserview, Vancouver East

April 02 V940604 $1,438,000 $0 0%
April 25 V940604 $1,398,000 $-40,000 -3%
May 25 V940604 $1,353,000 $-85,000 -6%
June 13 V940604 removed
June 28 V959102 $1,230,000 $-208,000 -14%
August 15 V959102 $1,199,000 $-239,000 -17%
Open House: Aug 19
September 11 V959102 removed
September 13 V970925 $1,150,000 $-288,000 -20%

Assessment: $1,056,000

“Seriously, come see – bring friends and tell others.”

Fraserview is the city’s newest waterfront neighbourhood. With larger lots came the larger homes, truly the perfect scene of treelined streets and lush grass. THIS HOME: Over 3000 sq ft of intelligently designed interior space, 4 lavish bedrooms upstairs. Master bath not spared – jacuzzi tub perfect for at home spa time! A rec room appropriate for a poker table, man cave or kids area, an enormous kitchen including a substantial eating area and desk space. Need to cool off? No sweat – the family room is equipped with a ductless A/C system. Otherwise, step out to your covered patio space and enjoy a glass of iced tea! Seriously, come see – bring friends and tell others.


#7 ) Address:3390 E 46TH AV, Killarney, Vancouver East

March 29 V939819 $1,250,000 $0 0%
April 09 V939819 $1,150,000 $-100,000 -8%
June 16 V939819 $1,030,000 $-220,000 -18%
July 30 V939819 removed
August 02 V964701 $899,000 $-351,000 -28%
Open House: Aug 05
Open House: Aug 12
August 16 V964701 $979,000 $-271,000 -22%

Assessment: $906,700

They couldn’t sell at $899K so they lowered the… wait a sec… they raised the price…

UPDATE: This home is now listed at $1.2 million!  If you are interested in this home I suggest you buy it RIGHT NOW!!!  Next week it could be $1.5 million.  Buy now or be priced out forever!!!!!!!

Meticulously kept by proud owner of 36 years. This sparkling home features gleaming Hardwood floors in the Livingroom with border inlay, wood burning fireplace and continued oak flooring in hallway and bedrooms. Cozy, open kitchen and 4 pc bathroom. Full basement with almost 8′ height can easily be suited. Situated in prime Killarney on a large, south exposed rear yard (46.5 x 122). Please allow minimum 24 hours notice.


#6 ) Address:7039 MAIN ST, South Vancouver, Vancouver East

June 21 V957696 $1,428,000 $0 0%
Open House: Jul 14
Open House: Jul 15
July 24 V957696 removed
July 26 V963792 $1,269,000 $-159,000 -11%
August 21 V963792 $1,100,000 $-328,000 -23%

Assessment: $1,116,000

Rarely available Triplex on 2 legal lots on Main and 54th, Van. 3 kitchens, 2 hot water tanks, 2 furnaces, 3 electric meters. Live in one of the suites and rent the 2 other units. Catchment area of Sexsmith Elementary School and Sir Winston Churchill Secondary School. All sizes and ages are approx only. The Buyer should not rely upon listing information without Buyer independently verifying the information.


#5 ) Address:3686 E GEORGIA ST, Renfrew, Vancouver East

March 09 V928200 $1,188,000 $0 0%
March 28 V928200 removed
March 31 V940402 $1,088,000 $-100,000 -8%
May 07 V940402 removed
May 24 V952066 $1,188,000 $0 0%
Open House: May 26
Open House: May 27
Open House: Jun 02
Open House: Jun 24
July 09 V952066 removed
July 12 V961610 $988,500 $-199,500 -17%
Open House: Jul 14
August 28 V961610 removed
September 06 V969380 $988,500 $-199,500 -17%
Open House: Sep 09
Open House: Sep 08
September 18 V969380 $899,900 $-288,100 -24%
Open House: Sep 22
Open House: Sep 23

Assessment: Building Unfinished

Price changes all over the map but you can see now they are starting to get worried

Move in right away – brand new, energy efficient house by award-winning European builder with 2-5-10 warranty coverage. HST has been paid!! separate legal suite (2 bedroom) with its own entry, address and electrical panel (great mortgage helper or in-law/nanny suite). Floors insulated and sound-proofed. Security system and built-in vac included. All appliances included, blinds 3 decks, in-floor radiant heating, gas fireplace, separate double garage, landscaped. Large kitchen, with granite tops and gas range. Too many features to mention, call Realtor for details. Public open house Saturday Sept.22nd from 2 to 4 and Sunday Sept 23rd from 2-4pm.More photos at LouCruz.ca


#4 ) Address:5904 TYNE ST, Killarney, Vancouver East

January 24 V927450 $1,460,000 $0 0%
March 02 V927450 $1,350,000 $-110,000 -8%
May 01 V927450 $1,190,000 $-270,000 -18%
August 01 V927450 removed
September 14 V971264 $1,098,000 $-362,000 -25%

Assessment: $1,177,000

7 bedrooms, 5 bathrooms custom built home in the most desirable Killarney location, walking distance to the mall, bus, and school. Functional layout. Jacuzzis and skylight. 4 bedrooms up, 1 bedroom on the main & 2 bedrooms suite in the basement with separate entrance. Excellent mortgage helper. Ideal for yourself to live in or rental investment.


#3 ) Address:2396 E 45TH AV, Killarney, Vancouver East

October 13 V915437 $1,168,000 $0 0%
March 16 V915437 $1,198,000 $0 0%
May 31 V915437 $899,800 $-298,200 -25%

Assessment: $755,400
Last Sale: $801,800 on 08/May/2011
Total Profit IF sold for list price: 49,830 transaction costs and 98,000 profit on sale = Profit of 48,170

“Priced to sell! Please act quick!”  Please act quick, we grossly overpaid for this lot a year ago, tried to flip it for a $300K profit and suddenly have realized that we’ll be forced to cut a cheque for the realtor fees out of our pockets

Prime location in Killarney, solid 2 levels house. Two bedrooms main flr and potential 1/2 bedromm suite in the high basment. Priced to sell! Please act quick!


#2 ) Address:1283 E 63RD AV, South Vancouver, Vancouver East

August 06 V965442 $979,000 $0 0%
August 11 V965442 $1,250,000 $0 0%
August 16 V965442 $1,025,000 $-225,000 -18%
September 12 V965442 $929,000 $-321,000 -26%

Assessment: $794,700

Just look at the comedic price history on this one!  Some people just deserve to lose money

The house is stripped and built again except the foundation. New walls, windows, floors, kitchens, bathrooms, plumbing, electrical, garage, solid house, well maintained by the owners. Up & down occupied by the sellers. Won’t last, call soon. Very central location, near schools, transport & Airport, double glazed windows. Hardwood floors, sellers motivated.


#1 ) Address:1537 E 5TH AV, Grandview, Vancouver East

March 09 V923259 $895,000 $0 0%
April 08 V923259 removed
April 12 V942434 $793,000 $-102,000 -11%
June 07 V942434 removed
June 09 V955548 $789,000 $-106,000 -12%
June 15 V955548 $759,000 $-136,000 -15%
June 30 V955548 $729,000 $-166,000 -19%
July 24 V955548 $699,000 $-196,000 -22%
August 11 V955548 $679,000 $-216,000 -24%
August 24 V955548 $629,000 $-266,000 -30%
September 07 V955548 $609,000 $-286,000 -32%
September 18 V955548 $629,000 $-266,000 -30%

Assessment: $686,000

And the winner is the magnificent blue tarp house!

25×122 / 3050sq.ft. lot just half a block to Commerical Drive on 5th Ave. Fantastic location. Duplex property with RM-4 zoning. For sale by court order. All measurements are approx. Buyer to verify. Property sold as-is where-is. Restore the duplex home (circa 1912) or build new. Vibrant community. Easy transit connect to UBC, downtown. Call to discuss your new home opportunities!

Spotlight Tri-Cities – September 25, 2012

It’s been a month so once again here are the top 10 properties currently listed in Coquitlam, Port Coquitlam and Port Moody with the largest overall drop in asking price since early March.  Please note that the listings are now in reverse order so starting with #10 and going up to #1

Some Highlights

  • It takes a 22% drop to make this top 10.  The 10th place drop registered 18%, 17%, 17% and 13% the previous 4 months so this is a large increase
  • 3 of 7 listings are now below assessment

#10 ) Address:3976 ROBIN PL, Oxford Heights, Port Coquitlam

February 10 V930974 $479,000 $0 0%
July 13 V930974 $399,900 $-79,100 -17%
August 29 V930974 $374,900 $-104,100 -22%

Assessment: No Assessment Available

Build your custom dream home in Oxford Heights. One of Port Coquitlam’s best neighbourhoods. Lot 4 lots subdivision. Next to creek and very private and quiet location. Ready to build March 1, 2012. HST not included.


#9 ) Address:258 MONTGOMERY ST, Central Coquitlam, Coquitlam

March 10 V936392 $1,280,000 $0 0%
April 26 V936392 $1,199,000 $-81,000 -6%
May 10 V936392 $1,100,000 $-180,000 -14%
Open House: May 27
Open House: Jun 03
Open House: Jun 09
Open House: Jun 16
Open House: Jun 17
Open House: Jun 24
Open House: Jul 01
Open House: Jul 02
Open House: Jul 08
July 11 V936392 removed
July 14 V961971 $1,050,000 $-230,000 -18%
Open House: Jul 15
Open House: Jul 29
Open House: Aug 05
Open House: Aug 12
Open House: Aug 18
Open House: Aug 25
Open House: Sep 02
Open House: Sep 09
September 14 V961971 removed
September 19 V972269 $998,000 $-282,000 -22%
Open House: Sep 23

Assessment: $934,000

One of the best priced new homes in Coquitlam. Beautiful kitchen with center island, wok kitchen, granite counter top, stainless steel cook top and more. 7 bedrooms, 2 ensuites, crown moldings, in floor heating and full basement with granite counter tops and washer/dryer below. Over 5300 SQFT of beauty! Easy to show!


#8 ) Address:# LOT 1 COSY COVE, Belcarra, Port Moody

March 09 V903884 $390,000 $0 0%
May 02 V903884 removed
May 25 V952163 $299,900 $-90,100 -23%

Assessment: No Assessment

Wow! Very rare one plus acre waterfront lot in Balcarra’s Cosy Cove, a development of 10 nature lots. Great western exposure with lots of sunshine and trees. Water access only with possible dock share, but you can hike in on the Jug Island trail – only 20-30 minutes. There are water rights to a well on an adjacent property. Great place for an almost in the city wilderness cottage. Not often can you find secluded local waterfront for under $300K.


#7 ) Address:1387 HOCKADAY ST, Hockaday, Coquitlam

June 18 V957150 $1,295,000 $0 0%
August 10 V957150 $1,195,000 $-100,000 -8%
September 15 V957150 $995,000 $-300,000 -23%

Assessment: $1,225,000

One of a kind full acre part of four-acre subdivision backing onto Coquitlam River. Quiet, dead-end street. Lovely 3-bedroom, 3-level split home with extra large master bedroom that features a patio. Partly remodelled in 1994. Extra large patio off family room. Private! Private! Private!


#6 ) 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%
August 28 V963611 $749,000 $-200,000 -21%
Open House: Sep 09
September 12 V963611 $729,000 $-220,000 -23%
Open House: Sep 23

Assessment: $738,000

This is actually a great spot in Coquitlam and if they weren’t so obscenely greedy to begin with I’m sure they would have sold for more than they are currently asking

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! Open Sun Sept 9 2-4pm


#5 ) Address:1370 PINETREE WY, Westwood Plateau, Coquitlam

March 09 V926604 $1,088,000 $0 0%
May 17 V926604 $1,029,000 $-59,000 -5%
Open House: May 26
Open House: May 27
Open House: Jun 02
June 14 V926604 removed
June 20 V957443 $899,000 $-189,000 -17%
Open House: Jun 30
August 09 V957443 $868,000 $-220,000 -20%
September 22 V957443 $828,000 $-260,000 -24%

Assessment: Building Unfinished

$260K and counting knocked off this new build

Brand new custom home on Prestige Westwood Plateau. City view from most of the rooms. Practical floor plan with quality construction. Hardwood flooring, granite counters, big picture view windows, covered decks. Main chef kitchen w/ expensive granite countertop, stainless steel appliances plus a Wok kitchen. 4 huge bedrooms upstairs with walk-in closets & wooden organizer. Fully finished basement with separate entrance, lots of windows, huge rec room, games room, bedroom & 2 bathrooms. Fenced yard with cedars & paving stones driveway. Walking distance to Pinetree Elementary and Secondary Schools, Douglas College, community centre. Close to Lafarge Lake and the future Evergreen line skytrain station.2-4pm open SAT 1376 & 1370


#4 ) Address:# 614 528 ROCHESTER AV, Coquitlam West, Coquitlam

March 23 V938821 $199,000 $0 0%
March 31 V938821 $189,000 $-10,000 -5%
April 05 V938821 $185,000 $-14,000 -7%
April 23 V938821 removed
April 26 V945578 $200,000 $0 0%
July 18 V945578 removed
July 25 V963470 $209,000 $0 0%
August 04 V963470 $199,000 $-10,000 -5%
August 18 V963470 $179,000 $-30,000 -14%
September 06 V963470 $174,900 $-34,100 -16%
September 19 V963470 $159,000 $-50,000 -24%

Assessment: $194,100

15 units sold in this condo last year for an average price of EQUAL to assessment.  This unit is currently listed 18% BELOW assessment

Location, Location, Location. This cozy 500 sq ft condo is steps from Lougheed Mall, Skytrain and every imaginable amenity. SFU Students take note; this has to be one of the easiest commutes to SFU and with a small downpayment you own instead of rent! Features include: insuite laundry, media room, billiard and exercise room with a bonus guest suite. Relax and enjoy the peace and quiet on your private top floor deck. Book a showing today for this quality built concrete condo, it will not disappoint.


#3 ) Address:# 301 2958 SILVER SPRINGS BV, Westwood Plateau, Coquitlam

March 09 V934557 $355,800 $0 0%
May 12 V934557 $448,888 $0 0%
May 15 V934557 $348,888 $-100,000 -22%
Open House: May 26
Open House: Jul 07
Open House: Jul 15
July 25 V934557 removed
July 28 V964105 $339,000 $-109,888 -24%

Assessment: $325,000

12 sales last year averaging 3% ABOVE assessment and this one is listed 4% ABOVE assessment

Welcome Home! Newly updated, spacious and bright 2 bedroom unit in Tamarisk by “Polygon”. This unit has all together for you to enjoy. Freshly painted walls carry out the stylish look of the newly installed hardwood floors in living and dining room. Bedrooms are really spacious, you can enjoy the functional floor plan of this home & get the most benefit of the indoor pool, exercise room and lovely party room. This complex is very much family-oriented and very safe to live in and enjoy the playgrounds garden and neighborhood. Very close to Coquitlam Shopping Centre, all level of schools, Douglas College, Aquatic Centre, Library & Lafarge Park are just walking distance. No age restrictions. Rentals allowed with no restrictions.


#2 ) Address:946 GATENSBURY ST, Harbour Chines, Coquitlam

June 08 V955283 $1,054,900 $0 0%
August 23 V955283 $794,600 $-260,300 -25%
Open House: Aug 25
Open House: Sep 09
Open House: Sep 15
Open House: Sep 16
Open House: Sep 23

Assessment: $711,900

They knock their initial price down by a whopping 25% and still get crickets

Updated home on an Estate sized lot in sought after Harbour Chines! This 4 bedroom, 2 bathroom Bungalow with basement sits on a 12,369 sqft park like property. A very short walk and your enjoying the ammenities of popular Como Lake! Need a suite? Separate basement entrance makes it possible! Also within walking distance; public, French Immersion, Catholic schools and public transportation. Bring your family to view this terrific home with a perfect yard for kids. New Rapid Transit, all levels of shopping and recreation just minutes away.


#1 ) Address:811 ROCHESTER AV, Coquitlam West, Coquitlam

July 12 V961620 $2,700,000 $0 0%
September 05 V961620 $1,995,000 $-705,000 -26%

Assessment: $1,030,000

Must be a crack house or at least the owners must be smoking crack to think that a 42 year old home on half an acre in Coquitlam that is assessed at just over $1 million should be listed for $2.7 million…  They have dropped the price to just below $2 million now but I predict that this home will be top of the weekly drop in future weeks

This rare gem is perfect for the active family…sports court for pickleball, basketball & hockey; heated inground pool, sweeping lawns for bocci ball, croquet & trampoline. Equally perfect for entertaining adult friends…9′ ceilings; solid hardwood floors; large kitchen with gentle Mediterranean cork floor, solid maple antique ivory cabinets, luxurious Italian granite counters & 6-burner gas range with 2 ovens and huge griddle; Jacuzzi, built-in BBQ, family room big enough for billiards or table tennis; tons of storage; over 5/8 acre of peaceful gardens in a private, quiet setting. AND walk to golf course! Features included – too many to list – please ask Realtor for info package.

Spotlight Surrey – September 25, 2012

It’s been a month so once again here are the top 10 properties currently listed in Surrey (not including South Surrey) with the largest overall drop in asking price since early March.  Please note that the listings are now in reverse order so starting with #10 and going up to #1

Some Highlights

  • It takes a 20% drop to make this top 10.  The 10th place drop registered 19%, 16%, 16% and 13% the previous 4 months.
  • 5 of 9 listings are now below assessment

#10 ) Address:14058 KING RD, Bolivar Heights, North Surrey

May 25 F1213537 $1,230,000 $0 0%
Open House: Jun 16
June 23 F1213537 $998,875 $-231,125 -19%
Open House: Jun 30
July 16 F1213537 removed
August 11 F1220515 $985,000 $-245,000 -20%
Open House: Sep 15
Open House: Sep 23

Assessment: Building Unfinished at time of assessment

Magnificent City and River views! South facing custom built home with the finest details and well thought versatile layout that every buyer is looking for. Total 4 balconies/patios on two floors to enjoy the beautiful views. 18′ ceiling family room, gourmet and spice kitchens, plenty ensuited bedrooms. 2 separate entries above ground, very versatile multi-functional basement accommodates various creative preferences & needs. Great schools. Easy access to Surrey City Center, Patullo Bridge & No.1 Hwy. 2-5-10 warranty. Must see & call now to view!


#9) Address:16920 96TH AV, Fleetwood Tynehead, Surrey

March 09 F1111545 $799,000 $0 0%
March 10 F1111545 $720,000 $-79,000 -10%
March 15 F1111545 removed
May 21 F1213186 $650,000 $-149,000 -19%
July 04 F1213186 removed
July 07 F1217342 $629,980 $-169,020 -21%

Assessment: $621,000

“PRICED TO SELL FAST AND WILL NOT LAST!!”  Well we know that’s not true.  “Bonus: old septic tank still in ground and might still be working!!!”  Wow, that’s literally a sh@#%tty bonus!!!

This beautiful 1 acres lot has NO easements, NO right of ways, NO hydro lines [only small creek through very top corner of property near road] Old house burned down. Completely cleared and cleaned as per city requirement. PRICED AT AN AMAZING PRICE and the only lot in a million dollar neighborhood!! Buy and build your dream home in one of the best areas in Surrey. PRICED TO SELL FAST AND WILL NOT LAST!! Bonus: old septic tank still in ground and might still be working!!!


#8 ) Address:9109 189TH ST, Port Kells, North Surrey

April 14 F1209285 $1,590,000 $0 0%
September 11 F1209285 $1,250,000 $-340,000 -21%

Assessment: $995,900

“Owner is interested in renting back.” yeah, I bet he is.

Excellent potential! Over 2 acres in future development planning stage. Planned proposal for medium density housing (1o-15 per acre). Quiet area with nicely landscaped yard. Mostly cleared land. Older home but well maintained. Build your dream home or hold for investment. Owner is interested in renting back.


#7 ) Address:13808 – 13810 117TH AV, Bolivar Heights, North Surrey

August 17 F1220993 $325,000 $0 0%
September 05 F1220993 $249,800 $-75,200 -23%

Assessment: $236,200

Industrial property with great upside. Located next to South Fraser Perimeter Road, this corner lot features a large 20×18 shop with power. House on the property needs work. All details are approximate and to be verified if deemed important by buyer.


#6 ) Address:13814 117TH AV, Bolivar Heights, North Surrey

March 09 F1124198 $369,000 $0 0%
April 16 F1124198 removed
June 19 F1215928 $339,500 $-29,500 -8%
July 12 F1215928 $299,000 $-70,000 -19%
August 29 F1215928 $279,000 $-90,000 -24%

Assessment: $339,300

Own your very own junk yard!  Oh wait, that’s the front yard.  Well I’m sure the inside of the house is better

Huge 10,530 square feet lot, great opportunity for builder and investor, bring your ideas and offer. Land value, sell “As is” “Where is”.


#5 ) Address:# 208 10523 UNIVERSITY DR, Whalley, North Surrey

March 09 F1204434 $204,900 $0 0%
April 21 F1204434 $194,900 $-10,000 -5%
May 18 F1204434 removed
June 11 F1215194 $194,900 $-10,000 -5%
July 14 F1215194 $179,900 $-25,000 -12%
August 15 F1215194 $169,900 $-35,000 -17%
September 07 F1215194 removed
September 13 F1222827 $154,900 $-50,000 -24%

Assessment: $233,600

11 units sold in this apartment building last year for an average of 1% BELOW assessment.  This unit is currently listed at 34% BELOW assessment…  Ground Zero of the apartment crash?

 

GRANDVIEW COURT. 942 sq ft unit uses flex room as a 2nd bdrm. Rainscreened bldg (lowrise section of the highrise). Complex has live-in caretaker, exercise room, saunas, meeting room. Walk to bus or skytrain. Near Gateway or Surrey City Centre, new Surrey library, SFU campus, and Surrey Place Mall. Measurements are approximate and should be verified by the Buyer if important to them.


#4 ) Address:14559 82ND AV, Bear Creek Green Timbers, Surrey

April 02 F1118229 $729,000 $0 0%
August 31 F1118229 removed
September 14 F1222975 $550,000 $-179,000 -25%

Assessment: $562,000

“Property contains accommodation which is not authorized.”  Another nominee for worst description in the world award!  They would have been better off with “This is a house”

Property contains accommodation which is not authorized.


#3 ) Address:# 32 7529 140TH ST, East Newton, Surrey

March 09 F1201781 $224,900 $0 0%
March 30 F1201781 $199,000 $-25,900 -12%
May 05 F1201781 $190,000 $-34,900 -16%
June 15 F1201781 removed
June 16 F1215787 $179,900 $-45,000 -20%
July 28 F1215787 $169,900 $-55,000 -24%
September 14 F1215787 removed
September 20 F1223475 $155,000 $-69,900 -31%

Assessment: $235,500

Currently listed 34% BELOW assessment

GLENVIEW ESTATES. At back of complex. 2 level unit with 3 bdrms & 21/2 bathrms, wood F/P. Patio & back, fenced yard have Southern (sunny) exposure. Mbdrm has deck. Needs some work, but for the price?????? Measurements are approximate and should be verified by the Buyer if important to them.


#2 ) Address:9267 188TH ST, Port Kells, North Surrey

March 09 F1129462 $1,788,000 $0 0%
March 17 F1129462 removed
May 29 F1213865 $1,399,000 $-389,000 -22%
July 24 F1213865 $1,150,000 $-638,000 -36%
August 24 F1213865 $1,089,000 $-699,000 -39%

Assessment: $1,171,000

“WILL ACCEPT TRADES.”  

INVESTOR ALERT! IN THE PORT KELLS NCP FOR FUTURE DEVELOPMENT. Over an 1.22 acres of flat and usable land. In the mean time, a huge, gorgeous home perfect for the property owner and their family, or a terrific revenue property to rent out. Many updates to the house include flooring, paint, etc and 3 generously-sized rooms with an additional, massive rec room. Very quiet area with tons of yard for kids, entertaining, hobbies or your landscaping dreams. Double garage for working on the car(s), woodworking and all your other activities. WILL ACCEPT TRADES.


#1 ) Address:14120 TRITES RD, Panorama Ridge, Surrey

March 09 F1203674 $1,980,000 $0 0%
March 22 F1203674 removed
March 23 F1207274 $1,189,900 $-790,100 -40%
June 23 F1207274 $1,139,000 $-841,000 -42%
August 02 F1207274 removed
August 04 F1220063 $1,089,000 $-891,000 -45%

Assessment: $1,017,000

Once again Trites is the winner!

PANORAMA RIDGE – Private Estate – 5191 sqft, 1.41 ACRE 2 storey w/basement. Great STREET APPEAL. Situated on a very private treed road. Spacious floor plan with 20′ vaulted ceilings in both family & living room (features grand stone fireplace), hardwood & tile flooring throughout main. Large ‘gourmet’ kitchen + additional spice kitchen & large W/I pantry. Up – Large master with private patio, full ensuite & soaker tub, an additional 4 oversized bedrooms are also located upstairs. Down – Is currently partially finished, potential for optional media/recreation and/or gym. Back – Features a very private view of the valley + densly treed location. Call now to arrange a viewing.


 

The Weekly Drop – September 24, 2012

Here are the 20 properties that dropped their price the previous week AND have dropped the largest percentage overall from their original asking price.  Please note that the listings are now in reverse order

Some highlights for this week:

  • 44 listings dropped to a cumulative total of 20%+ this week, 14 hit 25% and 5 hit 30% this week
  • Sunshine coast appeared on the list 3 times (winning yet again) followed by Maple Ridge, Langley, Vancouver East, Burnaby, Mission and Coquitlam with 2 each
  •  8 of 14 listings with assessments are listed below assessment

#20 ) Address:13173 CARDINAL ST, Steelhead, Mission

April 30 F1211048 $649,000 $0 0%
June 08 F1211048 $575,000 $-74,000 -11%
August 21 F1211048 $565,000 $-84,000 -13%
September 18 F1211048 $499,000 $-150,000 -23%
September 19 F1211048 removed
September 21 F1223594 $499,000 $-150,000 -23%

Assessment: $565,000

Your own lake!! Superb – outstanding gorgeous 2 bdrm super clean – super cute rancher with big deck with beautiful hot tub. Home is located within 10 feet of private 1 acre lake with ducks. Otters, Eagles, also has controlled water fall. Beautiful bridge to driveable back part of 6.4 AC lot. Must be seen to be understood. Call to show, sign on!!


#19 ) Address:# C1 1500 HORNBY ST, Yaletown, Vancouver West

February 24 V933540 $628,000 $0 0%
February 27 V933540 $569,000 $-59,000 -9%
May 16 V933540 $564,900 $-63,100 -10%
June 20 V933540 $529,900 $-98,100 -16%
July 19 V933540 $479,900 $-148,100 -24%
September 18 V933540 removed
September 21 V972750 $479,900 $-148,100 -24%

Assessment: $462,000

10 units sold in this apartment last year for an average of 9% ABOVE assessment and this unit is currently listed at 4% ABOVE assessment and initially listed at 37% ABOVE assessment!  This one is a little odd since it is a store front, not an apartment which is a first for the Weekly Drop.  “TRY YOUR OFFER -Owner will consider renovation and/or improvement credit for future buyer”

Street access office or retail space in prime Yaletown location. Great opportunity to own commercial space in a busy location. Property:825 sqft of office/retail space, double-wide frontage w/direct access, partitioned into 4 offices.Located a block away from the Marina& seabus & transportation. Includes 2secure parking spaces and street parking is readily available. Currently owner occupied business. Great holding property for the savvy investor. Building offers great amenities (pool, hot tub, gym etc.). TRY YOUR OFFER -Owner will consider renovation and/or improvement credit for future buyer! JUNE rent rates, you would see NET $33,000/annum, this would show a 6% CAP RATE at the current list price! **See V4032709


#18 ) Address:1370 PINETREE WY, Westwood Plateau, Coquitlam

March 09 V926604 $1,088,000 $0 0%
May 17 V926604 $1,029,000 $-59,000 -5%
Open House: May 26
Open House: May 27
Open House: Jun 02
June 14 V926604 removed
June 20 V957443 $899,000 $-189,000 -17%
Open House: Jun 30
August 09 V957443 $868,000 $-220,000 -20%
September 22 V957443 $828,000 $-260,000 -24%

Assessment: Building Unfinished

Brand new custom home on Prestige Westwood Plateau. City view from most of the rooms. Practical floor plan with quality construction. Hardwood flooring, granite counters, big picture view windows, covered decks. Main chef kitchen w/ expensive granite countertop, stainless steel appliances plus a Wok kitchen. 4 huge bedrooms upstairs with walk-in closets & wooden organizer. Fully finished basement with separate entrance, lots of windows, huge rec room, games room, bedroom & 2 bathrooms. Fenced yard with cedars & paving stones driveway. Walking distance to Pinetree Elementary and Secondary Schools, Douglas College, community centre. Close to Lafarge Lake and the future Evergreen line skytrain station.2-4pm open SAT 1376 & 1370


#17 ) Address:# 614 528 ROCHESTER AV, Coquitlam West, Coquitlam

March 23 V938821 $199,000 $0 0%
March 31 V938821 $189,000 $-10,000 -5%
April 05 V938821 $185,000 $-14,000 -7%
April 23 V938821 removed
April 26 V945578 $200,000 $0 0%
July 18 V945578 removed
July 25 V963470 $209,000 $0 0%
August 04 V963470 $199,000 $-10,000 -5%
August 18 V963470 $179,000 $-30,000 -14%
September 06 V963470 $174,900 $-34,100 -16%
September 19 V963470 $159,000 $-50,000 -24%

Assessment: $194,100

15 units sold in this condo last year for an average price of EQUAL to assessment.  This unit is currently listed 18% BELOW assessment

Location, Location, Location. This cozy 500 sq ft condo is steps from Lougheed Mall, Skytrain and every imaginable amenity. SFU Students take note; this has to be one of the easiest commutes to SFU and with a small downpayment you own instead of rent! Features include: insuite laundry, media room, billiard and exercise room with a bonus guest suite. Relax and enjoy the peace and quiet on your private top floor deck. Book a showing today for this quality built concrete condo, it will not disappoint.


#16 ) Address:615 E KEITH RD, Queensbury, North Vancouver

March 09 V934896 $1,079,000 $0 0%
March 24 V934896 $988,000 $-91,000 -8%
June 02 V934896 removed
July 21 V963136 $849,000 $-230,000 -21%
Open House: Jul 21
Open House: Jul 22
Open House: Aug 18
Open House: Aug 19
Open House: Aug 26
September 20 V963136 $819,000 $-260,000 -24%

Assessment: $727,500

Great starter home or investment!! Centrally located in the Grand Boulevard area. This renovated home sits on a 50×137 lot, this 6 bed plus 4 bath includes new laminate flooring, paint, and carpet downstairs where can be used as a mortgage helper! Enjoy BBQ’s on the spacious SUNDECK with city and water views. Comes with ample parking and easy access to schools, shopping, and transit to Downtown. Do not miss this great opportunity!! CALL NOW! Open Houses Saturday and Sunday August 18/19th 2-4pm


#15 ) Address:3686 E GEORGIA ST, Renfrew, Vancouver East

March 09 V928200 $1,188,000 $0 0%
March 28 V928200 removed
March 31 V940402 $1,088,000 $-100,000 -8%
May 07 V940402 removed
May 24 V952066 $1,188,000 $0 0%
Open House: May 26
Open House: May 27
Open House: Jun 02
Open House: Jun 24
July 09 V952066 removed
July 12 V961610 $988,500 $-199,500 -17%
Open House: Jul 14
August 28 V961610 removed
September 06 V969380 $988,500 $-199,500 -17%
Open House: Sep 09
Open House: Sep 08
September 18 V969380 $899,900 $-288,100 -24%
Open House: Sep 22
Open House: Sep 23

Assessment: Building Unfinished

Two new builds in the top 20 this week – I suspect we’ll see more and more of these as builders who tried to squeeze in a few more bucks of profit end up getting caught

Move in right away – brand new, energy efficient house by award-winning European builder with 2-5-10 warranty coverage. HST has been paid!! separate legal suite (2 bedroom) with its own entry, address and electrical panel (great mortgage helper or in-law/nanny suite). Floors insulated and sound-proofed. Security system and built-in vac included. All appliances included, blinds 3 decks, in-floor radiant heating, gas fireplace, separate double garage, landscaped. Large kitchen, with granite tops and gas range. Too many features to mention, call Realtor for details. Public open house Saturday Sept.22nd from 2 to 4 and Sunday Sept 23rd from 2-4pm.More photos at LouCruz.ca


#14 ) Address:24187 60TH AV, Salmon River, Langley

April 28 F1210996 $1,098,800 $0 0%
May 15 F1210996 $998,800 $-100,000 -9%
June 14 F1210996 $898,900 $-199,900 -18%
July 12 F1210996 $849,900 $-248,900 -23%
September 17 F1210996 removed
September 18 F1223263 $849,800 $-249,000 -23%
September 22 F1223263 $828,800 $-270,000 -25%

Assessment: $688,000

“Seller says sell now.  recent bank appraisal of $900,000″.  Guess the bank was wrong and the government assessment will probably end up being more accurate.  As a side note, if it was appraised by the bank at $900K then why did you list it for $1.1 million?

Seller says sell now – recent bank appraisal of $900,000, FANTASTIC new 32×28 heated & wired workshop with 220, 12′ & 10′ doors. Additional 30X20 shop finished into games room/office. Plus a double garage. Wonderful rancher with loft & wrap around verandah located at the end of a no-thru road, TOTAL PRIVACY on park like acre. Large multi-tiered patio, gazebo, lawns garden & shallow ravine. New roof, hardwood floors, crown mouldings. Spacious living room with gas fireplace & adjoining dining room. Oak kitchen with pantry & carousel window eating area. Family rm with gas heatilator fireplace & sliders. 2 bedrms on main – Master bedrm w/walk-in closet, sitting area W/sliders + ensuite w/double sinks, tub w/shower & a 2nd separate shower. 2 additional bedrms upstairs. Call today!


#13 ) Address:# LT.3 SWARD RD, Mission BC, Mission

June 06 F1214691 $249,000 $0 0%
June 21 F1214691 $234,000 $-15,000 -6%
July 07 F1214691 $226,500 $-22,500 -9%
July 26 F1214691 $214,900 $-34,100 -14%
August 11 F1214691 $201,900 $-47,100 -19%
August 28 F1214691 $189,900 $-59,100 -24%
September 22 F1214691 $185,900 $-63,100 -25%

Assessment: No Assessment

8.17 ACRES at the north end of Hatzic Lake. Access off the end of a dead-end street. Neighborhood has a park and boat launch. Not subdividable. No driveway, property begins at the end of the street. It is wet at the bottom, then rises steeply up the mountain.


#12 ) Address:5635 RUTHERFORD RD, Halfmoon Bay, Sunshine Coast

February 15 V931874 $1,595,000 $0 0%
July 11 V931874 $1,390,000 $-205,000 -13%
September 19 V931874 $1,190,000 $-405,000 -25%

Assessment: $918,000

Beautifully appointed home located at the end of a quiet and well established cul-de-sac close to the General Store, Government Dock and Coopers Green Park. The casual yet elegant living and dining areas are enhanced by a floor to ceiling stone fireplace, large windows to take advantage of the natural light and ocean views. All opens out to a large seaside deck and overlooks the easy to maintain seaside pool and waterfront. Large entertainment sized kitchen features a huge island providing additional prep space, commercial grade appliances and a built in cappucino machine. Lower level provides a master suite, gym and media room. This fabulous home also has a separate guest suite. This would be an ideal Waterfront B&B !


#11 ) Address:7480 LICKMAN RD, Chilliwack, Chilliwack

November 16 H1104667 $1,888,888 $0 0%
February 24 H1104667 $1,688,000 $-200,888 -11%
June 30 H1104667 $1,580,000 $-308,888 -16%
September 19 H1104667 $1,399,900 $-488,988 -26%

Assessment: Farm Land

17.05 Acres at excellent location on City Water and Sanitary Sewer. Very close to Heritage Exhibition Park, Cheam Golf Course and beside Horse Track. Older house, large barn with horse stalls and detached 4 car garage/workshop. Land is leased to the farmer for extra income. Very convenient location to build your dream house or hold this potential plus property near Hwy #1.


#10 ) 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%
September 16 V949298 removed
September 18 V971963 $1,399,000 $-489,000 -26%

Assessment: $1,020,000

$1.888 million???  More than 80% above assessment???  What’s wrong with this city?!?

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 sq.ft. and has a familyroom, 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.


#9 ) Address:# 106 3901 CARRIGAN CT, Government Road, Burnaby

March 09 V928289 $289,000 $0 0%
March 15 V928289 $279,000 $-10,000 -3%
April 12 V928289 $269,900 $-19,100 -7%
April 17 V928289 removed
April 19 V944191 $269,900 $-19,100 -7%
May 23 V944191 $259,900 $-29,100 -10%
June 29 V944191 $249,800 $-39,200 -14%
July 25 V944191 $239,000 $-50,000 -17%
August 24 V944191 $229,900 $-59,100 -20%
September 18 V944191 removed
September 21 V972752 $209,900 $-79,100 -27%
Open House: Sep 22
Open House: Sep 23

Assessment: $264,700

3 sales in this property last year averaging 3% BELOW assessment.  This one is currently listed at 21% BELOW assessment.  This court ordered sale is sold ”As is Where is”.   No thanks!

Lougheed Estates II – Court Ordered Sale !! Spacious 3 bedroo, 2 bathroom, above ground corner unit in well maintained building, just a short 5 minute walk to Sky-Train and Lougheed Mall. This home boasts over 1200 square feet of living area with a newer upgraded kit, counter-tops, laminate floors, gas fireplace and more. Massive master bdrm with 3 pc ensuite and also featuring large secondary bedrooms. Long term maintenance program in place with 1 year old roof. Complex amenities include indoor swimming pool, sauna, rec center and workshop. Maintenance fee includes heat, hot-water and gas. Convenient location close to schools, shopping, transportation and Sky-train. Unit shows reasonably well, but is sold on “As is Where is” basis.


#8 ) Address:# C 4867 CASABELLA CR, Whistler, Whistler Pemberton

June 14 V861502 $219,000 $0 0%
July 05 V861502 $204,000 $-15,000 -7%
March 09 V861502 $189,000 $-30,000 -14%
June 06 V861502 $180,000 $-39,000 -18%
September 20 V861502 $159,000 $-60,000 -27%

Assessment: $233,000 for 1/4 share

Currently listed at 32% BELOW assessment!

1/4 Share ownership in this beautiful three bedroom, three bathroom townhouse available with incredible views. Location is amazing, close to everything. Strata fees include taxes, utilities, strata, etc. Private hot tub. Week C.HST Not Applicable.


#7 ) Address:# LT 143 ESQUIRE DR, Pender Harbour, Sunshine Coast

November 08 V919083 $279,000 $0 0%
April 05 V919083 $247,000 $-32,000 -11%
September 21 V919083 $199,900 $-79,100 -28%

Assessment: No Assessment

Own and build on this 2 acre parcel of land on a quiet, private cul-de-sac in Madeira Park. This property is fronted by two roads, offers ocean views, beautiful views of the sunsets, services to the lot line, building sites, all on a natural and beautiful landscape of rock, moss in a forest of trees including the arbutus tree. This property feels remote yet is only 5 minutes to town and shopping. Call us today for more information on this lovely acreage.


#6 ) Address:20457 LORNE AV, Southwest Maple Ridge, Maple Ridge

March 09 V917749 $389,800 $0 0%
May 01 V917749 removed
June 30 V959603 $319,500 $-70,300 -18%
Open House: Jul 08
August 08 V959603 $299,000 $-90,800 -23%
September 21 V959603 $279,000 $-110,800 -28%

Assessment: $257,100

Two Bedroom & One Bathroom rancher located in south west area of Maple Ridge. Open design concept. Plenty of parking in front of property and close to transit, schools & shopping. Why rent when you can have your own home. All measurements are approximate and should be verified if important. Contact your agent for more details and arrange a viewing.


#5 ) Address:1537 E 5TH AV, Grandview, Vancouver East

March 09 V923259 $895,000 $0 0%
April 08 V923259 removed
April 12 V942434 $793,000 $-102,000 -11%
June 07 V942434 removed
June 09 V955548 $789,000 $-106,000 -12%
June 15 V955548 $759,000 $-136,000 -15%
June 30 V955548 $729,000 $-166,000 -19%
July 24 V955548 $699,000 $-196,000 -22%
August 11 V955548 $679,000 $-216,000 -24%
August 24 V955548 $629,000 $-266,000 -30%
September 07 V955548 $609,000 $-286,000 -32%
September 18 V955548 $629,000 $-266,000 -30%

Assessment: $686,000

Blue tarp realtor, here is some advice since I don’t think raising the price is going to work.  People are not buying this home, they are buying the lot, right?  The pictures are a joke, the blue tarp is a joke and lets be honest, the house is a joke.  Improve your listing 100% by getting rid of the pictures of the house.  Go to Google Maps Arial Street View and take a screen shot and draw a border around the property lines – I imagine you’ll need to get someone to help you with this.  Now people will understand they are buying a lot, not a blue tarp that has more value than the entire home it is draped around.  Of course this change will still probably not manage to make this sell.  Come on, a 3000 sqft lot in a place where you’ll often find people passed out on your steps or forced to entertain squaters that have taken over your shed?  In most cities this is the type of place that lists for $20K and still doesn’t sell but you had the sense of humour to list it for $900K.

25×122 / 3050sq.ft. lot just half a block to Commerical Drive on 5th Ave. Fantastic location. Duplex property with RM-4 zoning. For sale by court order. All measurements are approx. Buyer to verify. Property sold as-is where-is. Restore the duplex home (circa 1912) or build new. Vibrant community. Easy transit connect to UBC, downtown. Call to discuss your new home opportunities!


#4 ) Address:# 32 7529 140TH ST, East Newton, Surrey

March 09 F1201781 $224,900 $0 0%
March 30 F1201781 $199,000 $-25,900 -12%
May 05 F1201781 $190,000 $-34,900 -16%
June 15 F1201781 removed
June 16 F1215787 $179,900 $-45,000 -20%
July 28 F1215787 $169,900 $-55,000 -24%
September 14 F1215787 removed
September 20 F1223475 $155,000 $-69,900 -31%

Assessment: $235,500

Needs some work, but for the price?????? 

GLENVIEW ESTATES. At back of complex. 2 level unit with 3 bdrms & 21/2 bathrms, wood F/P. Patio & back, fenced yard have Southern (sunny) exposure. Mbdrm has deck. Needs some work, but for the price?????? Measurements are approximate and should be verified by the Buyer if important to them.


#3 ) Address:# 4 20837 LOUIE CR, Walnut Grove, Langley

May 26 F1210850 $109,000 $0 0%
June 08 F1210850 $99,000 $-10,000 -9%
Open House: Jul 22
Open House: Sep 16
September 22 F1210850 $75,000 $-34,000 -31%

Assessment: No Assessment

Cute as a button, bright and open one bedroom float home in Grant’s Landing just minutes from Derby Reach Park. Peaceful setting, floating on the Fraser, yet just 5 minute drive to shopping. Sunny Solarium plus two spacious decks. Yellow cedar floors, new washer and dryer – the perfect home for one of two. Long term secure moorage at $825 monthly.


#2 ) Address:531 S FLETCHER RD, Gibsons, Sunshine Coast

June 14 V881236 $319,000 $0 0%
March 29 V881236 $280,000 $-39,000 -12%
May 02 V881236 $249,000 $-70,000 -22%
June 13 V881236 $229,000 $-90,000 -28%
September 21 V881236 $205,000 $-114,000 -36%

Assessment: $224,000

PANORAMIC VIEW Corner Lot [1 of a kind]in Gibsons Landing! N/W Corner S. Fletcher & School Rd.! 1 short block to Government Public Wharf&Gazebo, Waterfront Seawalk, Scenic Harbour& Marina, Village Shops, Restaurants! Cleared & ready to build on! Services available!


#1 ) Address:12470 BLUE MOUNTAIN CR, Northeast, Maple Ridge

April 02 V940681 $698,000 $0 0%
August 03 V940681 removed
August 06 V965433 $475,000 $-223,000 -32%
August 17 V965433 $449,000 $-249,000 -36%
September 06 V965433 $429,000 $-269,000 -39%
September 21 V965433 $389,000 $-309,000 -44%

Assessment: $526,000

CAPE COD moldy grow op has come down again.  Be realistic, this is a lot sale so ditch the CAPE COD and anything else positive about the home since it clearly is not even livable.  Overhead view from google maps and sell it as a lot.  Based on the $698K initial price I think there must be some serious mind altering fumes emanating from that property.

CAPE COD ON 1 ACRE! Nice curb appeal to this home with upstairs bedroom dormer windows. Lots of parking, double enclosed garage, nifty brickwork at the front, large covered sundeck at the back, off the dining and living room areas. Main floor has huge living and dining rooms, family room with gas fireplace, kitchen with wood cabinets and island, large laundry room. Two half baths on this level. Upstairs are 4 bedrooms, a full bathroom, and a full ensuite off the master. The basement is part and unfinished. Court Order Sale, as-is, extensive damage to home throughout, mold, etc. view photos on Realtor website before requesting a viewing. Check with your bank for financing first, as the home is without an occupancy permit.