Vancouver Price Drop

Documenting Vancouver real estate price movements

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.


 

2 responses to “Spotlight Surrey – September 25, 2012

  1. djindustry September 25, 2012 at 12:38 pm

    i love it–‘This is a house”
    hilarious reading once again!

  2. pretzels September 26, 2012 at 8:58 pm

    Do people actually live in Surrey??

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