Vancouver Price Drop

Documenting Vancouver real estate price movements

White Rock Spotlight – October 1, 2012

It’s been a month so once again here are the top 10 properties currently listed in White Rock/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 19% drop to make this top 10.  The previous 4 months were 20%, 20%, 17% and 13%
  • 6 of 9 listings are now below assessment

#10 ) Address:# 105 14881 MARINE DR, White Rock, White Rock

March 22 F1207225 $179,500 $0 0%
May 17 F1207225 $162,500 $-17,000 -9%
June 19 F1207225 $157,500 $-22,000 -12%
September 20 F1207225 removed
September 23 F1223819 $144,900 $-34,600 -19%

Assessment: $151,300

CUTE AS A BUTTON!!! Don’t miss the 522 sq ft studio with a surprising amount of space, cabinets and storage. WHY PAY RENT!! Spacious bath with jetted tub, good amount of kitchen cabinets, dishwasher, convenient MURPHY BED and a smallbalcony. The locker storage is on the same floor and 1 parking stall (outdoors). ENJOY A GREAT LIFESTYLE… LIVING AT THE BEACH… The roof was done10 years ago, some of the windows have been replaced and the STRATA FEE IS $118.

#9 ) Address:1309 132B ST, Crescent Beach Ocean Park, White Rock

March 09 F1201971 $6,800,000 $0 0%
May 18 F1201971 removed
June 15 F1215632 $5,388,000 $-1,412,000 -21%

Assessment: $3,030,000

Invest in the best! Wow… What a location and view for this 15,000 sqft/100 ft wide piece of beauty land. One of only a few like this with unobstructed, very private view… forever! Walk through the massive wood entrance doors to an infinity view from every living space and room in this quality custom residence. Fabulous floor plan with custom high end gourmet white kitchen, spacious living & dining along with a ‘retreat’ style huge master on main level. All main level looks out through the highest of quality brand new Gaulhofer windows and folding doors onto newly redone granite decking with glass railings, new custom high end polished concrete BBQ & cooking area, gas firepit, heating system, built-in watering system for plants. Spiral staircase takes you to sought after walk-out lower level with media/office, games, bar area, sauna and 2 bedrooms (one with ensuite bath). All this walks out to awesome covered stamped concrete patio area with just to be finished new outdoor rock fireplace. Hottub and pool.

#8 ) Address:# 109 1533 BEST ST, White Rock, White Rock

April 12 F1208996 $279,000 $0 0%
May 23 F1208996 $259,000 $-20,000 -7%
Open House: Jun 02
July 11 F1208996 $239,000 $-40,000 -14%
Open House: Jul 14
July 27 F1208996 $229,000 $-50,000 -18%
August 15 F1208996 $219,000 $-60,000 -22%

Assessment: $268,000

Tremendous opportunity to purchase a delightful 2 bedroom, 2 bath well maintained ground level unit on the quiet side of the building. Huge north west facing patio is private and secure perfect for an animal lover. This is a well kept unit, 2nd bedroom offers a Murphy bed and clever use of storage space. Huge kitchen with informal eating area overlooks open and bright L.R. and D.R. Building has been rain screened. A seismic upgrade, new windows and paint complete the package in this worry free building. Pets are welcome, no age restrictions NO rentals. No hills here! Within walking distance to shopping, transportation and nearby Peace Arch Hospital, White Rock Elementary & Earl Marriot

#7 ) Address:# 206 1369 GEORGE ST, White Rock, White Rock

May 12 F1212478 $269,000 $0 0%
May 31 F1212478 $249,000 $-20,000 -7%
Open House: Jun 03
June 20 F1212478 $239,000 $-30,000 -11%
Open House: Jul 15
July 14 F1212478 $229,000 $-40,000 -15%
September 07 F1212478 $209,000 $-60,000 -22%

Assessment: $260,000

CAMEO TERRACE!!! Large one bedroom and den, could be a second bedroom. Great location, western exposed balcony with peek a boo view of the ocean. Engineered hardwood floors, wood blinds, Stainless appliances, breakfast bar.Great layout, spacious laundry with side by side washer & dryer. Shows well! Age restrictions, no rentals, small pet allowed.

#6 ) Address:# 302 15342 20TH AV, King George Corridor, White Rock

March 09 F1127137 $249,900 $0 0%
March 22 F1127137 $234,900 $-15,000 -6%
May 03 F1127137 removed
May 26 F1213763 $219,900 $-30,000 -12%
July 03 F1213763 removed
July 07 F1217573 $199,000 $-50,900 -20%
September 27 F1217573 $189,000 $-60,900 -24%

Assessment: $279,000

STERLING PLACE – ‘TOP FLOOR’ 955 sqft, West facing 1 bed/1 bath + den. Large open kitchen, high ceilings, radiant H/W heat, NGAS F/P. Great condition, ready to move in! Call today to arrange a viewing. * PREC – Personal Real Estate Corporation

#5 ) Address:14373 MARINE DR, White Rock, White Rock

March 09 F1128502 $3,988,700 $0 0%
March 17 F1128502 $3,278,000 $-710,700 -18%
May 29 F1128502 removed
June 23 F1216442 $3,188,700 $-800,000 -20%
September 24 F1216442 removed
September 25 F1223927 $2,998,800 $-989,900 -25%

Assessment: Building Unfnished at time of assessment

This unique, beautifully handcrafted home offers the very best White Rock Ocean views. You will enjoy an unencumbered view of the White Rock hillside city lights at night. Mount Baker, Pier, San Juan + Gulf Islands. This home is a true testament to the BC Coast and logging with its solid fir Post and Beam construction, expertly fitted and finished to perfection. This home is complete with all the extras one could desire. From its beautiful grand custom made front door you will be greeted with the commanding views this home provides. The homes handscraped Maple floors lead to you to a grand kitchen, dining and great room. The kitchen has extensive use of granite, rock + limestone. The separate bar area is complete with wine cellar.

#4 ) Address:12309 24TH AV, Crescent Beach Ocean Park, White Rock

October 07 F1124941 $1,188,000 $0 0%
November 27 F1124941 $1,088,000 $-100,000 -8%
February 01 F1124941 $988,000 $-200,000 -17%
March 16 F1124941 $928,000 $-260,000 -22%
June 23 F1124941 $888,000 $-300,000 -25%

Assessment: $719,000

STUNNING OCEAN PARK/CRESCENT HEIGHT HOME on a very private site & only minutes (literally) from the beach path. Improvements in recent years include all new wiring etc, all new plumbing & fixtures. All new doors & windows (Euroline Tilt &Torn Gold Series) 5″ wide maple flooring & slate flooring entry, ultra line professional 6 burner gas stove, solid fir French doors (3 sets) leading onto the deck area, custom built cedar storage shed (12×16) heated & insulated + vertical grain fir kitchen cabinets & so much more. TRULY A ONE OF A KIND!

#3 ) Address:# 106 15241 18TH AV, King George Corridor, White Rock

March 09 F1128130 $244,000 $0 0%
March 24 F1128130 $229,000 $-15,000 -6%
May 01 F1128130 removed
May 11 F1212261 $219,000 $-25,000 -10%
June 06 F1212261 $209,000 $-35,000 -14%
June 23 F1212261 $199,000 $-45,000 -18%
August 08 F1212261 $189,000 $-55,000 -23%
September 06 F1212261 $179,000 $-65,000 -27%

Assessment: $242,000

CRANBERRY LANE 2 bedroom, 2 bath ground level, corner condo! Super location, you can walk to shopping, transportation and all other retail and recreational amenities. Two pets allowed, no age restriction, strata fee $237.41. Court approvalof your offer is required. * PREC – Personal Real Estate Corporation

#2 ) Address:16790 16TH AV, Pacific Douglas, White Rock

February 07 F1203003 $1,334,200 $0 0%
April 18 F1203003 $1,100,000 $-234,200 -18%
August 13 F1203003 removed
August 17 F1220933 $950,000 $-384,200 -29%

Assessment: $1,059,000

GREAT POTENTIAL with this 1.16 acre LOT (50,556sf). NCP area 2 as investment or holding property. Currently zoned RA or RH for 1-2 units per acre. Central Location. 3,000 sq.ft. 4bd.3bth House with Views, Southern Exposure. Two detached buildings: 2-stall barn with own 120 amp panel and large workshop/garage with grease pit. Corner Lot. Close to all amenities, the US border, and a new Surrey park called Fergus Watershed Park.

#1 ) Address:15438 ROYAL AV, White Rock, White Rock

March 30 F1207945 $2,000,000 $0 0%
May 01 F1207945 $1,850,000 $-150,000 -8%
May 05 F1207945 $1,580,000 $-420,000 -21%
July 19 F1207945 removed
July 21 F1218905 $1,480,000 $-520,000 -26%
September 25 F1218905 $1,398,000 $-602,000 -30%

Assessment: $983,000

Beautiful ocean view property on very desirable street in sunny White Rock. Located on the south side of Royal, this large 5,850SF lot has sweeping unobstructed ocean, mtn & island views & neighbours multimillion dollar homes. Spacious &bright kitchen, SS appliances, new Thermador oven, new plumbing & light fixtures, hdwd flooring, 2 gas f/p & private fenced yard. French doors open from kitchen to lrg sundeck, great for entertaining friends & family. Fully finished w/o bsmt w/lrg partially covered sundeck. Access to Dbl garage from lane driveway. Ample parking, front & back. Flat, quiet street. Walk to beach, restaurants, shops, library, schools & transit. Live in now, renovate/build later! 5 min to US Border, 42km to YVR.


6 responses to “White Rock Spotlight – October 1, 2012

  1. Makaya October 1, 2012 at 6:45 pm

    #9: greed in its purest form. Listed at twice the assessment value. What are they thinking?

  2. prairieperson October 1, 2012 at 8:56 pm

    They are thinking that there is no price that is too much. Prices have separated from reality. Ask any price that your fantasy and greed suggest. There’ll always be a greater fool. People just make up prices. The current downtrend hasn’t been in place long enough to make it clear that prices are moving down below assessment. It’s amazing what reasons people give to justify their greed. Let us see what the report is like one month from now.

  3. Thomas Holloway (@Zerodown0) October 1, 2012 at 9:33 pm

    Observer, can you do any work on predicting the January assessment? The price is based on the “value” at July 2012. Now if they stick to that my guess is July was a bit too early. In 2008 they recognized that ANY assessment increase was absurd so you got the minimum of the 2007 and 2008 assessment in the mail January 2009. The reason we care is that assessment is an important psychological input for owners and buyers.

    Another idea is top ten discounts from assessed.

    • an observer October 1, 2012 at 9:51 pm

      Really tough to say but if the assessments go up then you’ll see more and more sales coming in dramatically below assessments and if they go down then that will be a huge eye opener to the general public

  4. gordo November 13, 2012 at 2:41 pm

    This place has now been sold

  5. gordo November 13, 2012 at 2:42 pm

    the place at 15438 royal av

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