Vancouver Price Drop

Documenting Vancouver real estate price movements

Burnaby Spotlight – October 31, 2012

It’s been a month so once again here are the top 10 properties currently listed in Burnaby with the largest overall drop in asking price since early March.  No comments from me other than any unit sales in the case of a condo for these spotlights because it’s just too time consuming to read through everything when doing 13 spotlights

Some Highlights

  • It takes a 23% drop to make this top 10.  Previous 4 months were 21%, 17%, 17% and 17%
  • 5 of 9 listings are now below assessment

#10 ) Address:7515 WHELEN CT, Deer Lake, Burnaby

April 25 V945216 $1,688,000 $0 0%
May 17 V945216 $1,588,000 $-100,000 -6%
Open House: May 20
June 23 V945216 $1,470,000 $-218,000 -13%
August 16 V945216 removed
September 13 V970912 $1,399,000 $-289,000 -17%
September 29 V970912 $1,299,000 $-389,000 -23%
Open House: Oct 20

Assessment: $1,501,000

STUNNING & RARE! A terrific family home! Offered for sale by long time owners. Updated & immaculately kept open spacious & bright post modern family home in popular Deer Lake area situated on a large 11,465 sq.ft lot, your own “Stanley Park” setting! Updates include roof, double glazed “Low E” windows, river rock gas fireplace, bathrooms, flooring, & b/in vacuum. Large decks, 49’x13′, & 60’x23′, private backyard, backs onto greenbelt, with hot tub, and storybook garden with multiple fish ponds, large covered areas. Full height walk out basement, with unauthorized suite. Close to Deer Lake, Buckingham Heights Elementary, and public transit. This home will please the fussiest of buyers searching for that special family home.

#9 ) Address:# 47 3960 CANADA WY, Burnaby Hospital, Burnaby

March 14 V936828 $349,900 $0 0%
March 28 V936828 $328,800 $-21,100 -6%
April 28 V936828 $314,900 $-35,000 -10%
Open House: May 20
May 23 V936828 removed
May 28 V952738 $275,900 $-74,000 -21%
Open House: Jun 09, 16
July 31 V952738 removed
August 06 V965295 $265,888 $-84,012 -24%
Open House: Aug 19, 26
Open House: Sep 02, 16
Open House: Oct 14

Assessment: $259,200

No units sold in this development last year

MOTIVATED SELLER. BRING OFFERS. Beautiful spacious 1 bdrm corner unit with its own private entrance and large patio rarely becomes available in Lodges in popular Cascade Village. Nicely kept unit. Wood burning fireplace gives a country style feeling to this cozy apartment. Top of the line appliances, newer hot water tank, in suite laundry. Complex has a very nice recreation facility with indoor pool, weight room, two theatre rooms & party room looking out to landscaped green area. This kind of unit rarely becomes available.

#8 ) Address:# 302 5450 EMPIRE DR, Capitol Hill, Burnaby

July 27 V963885 $329,000 $0 0%
August 14 V963885 $299,000 $-30,000 -9%
August 25 V963885 $279,000 $-50,000 -15%
Open House: Sep 22
October 25 V963885 removed
October 28 V978371 $249,000 $-80,000 -24%

Assessment: $267,200

1 Sale here last year for 1% ABOVE assessment and this unit is currently 7% BELOW assessment

Clean 2 bedroom 2 bath corner unit facing quiet inner courtyard. Nice layout with spacious rooms. Convenient North Burnaby location close to amenities and transportation. Building is considered to be in good condition.

#7 ) Address:6563 ORCHARD PL, Deer Lake, Burnaby

October 05 V975230 $1,369,000 $0 0%
October 19 V975230 $1,035,000 $-334,000 -24%

Assessment: No Assessment

“Deer Lake Woods” a boutique 8-lot subdivision in prestigious, upscale Deer Lake. Your opportunity to purchase a fully serviced R2 zoned lot and build your dream home of approximately 4700 sq. ft. Located off Brantford Avenue, north of Oakland St. and surrounded by the forest of Deer Lake. These lots are situated in a cul-de-sac, some offer mountain views while others have the forested Deer Lake Park overlooking your back yard. This is a rare opportunity to build your own new executive home in a gem of a setting. All services at lot line and are ready to build on. Quick & easy access from this greenbelt to Metrotown & Hwy 1. Shadbolt Center for the Arts, Deer Lake and nature trails all nearby. Close to transportation & schools.

#6 ) Address:7333 BARNET RD, Westridge, Burnaby

April 21 V944674 $999,999 $0 0%
May 05 V944674 $869,900 $-130,099 -13%
May 24 V944674 $795,000 $-204,999 -20%
July 17 V944674 $749,000 $-250,999 -25%

Assessment: $673,700

Some view.

#5 ) Address:7545 WHELEN CT, Deer Lake, Burnaby

March 09 V932130 $1,877,000 $0 0%
May 16 V932130 $1,777,000 $-100,000 -5%
June 06 V932130 removed
June 11 V955744 $1,499,000 $-378,000 -20%
October 16 V955744 $1,399,000 $-478,000 -25%
Open House: Oct 20

Assessment: $1,611,000

RARE & PRESTIGIOUS! Tranquil “Stanley Park” like setting w/ stunning elevated vista views. Highly desired & rarely available large property (over 15,000 sqft) in Deer Lake/Buckingham Heights. Extensively updated modern post & beam mid-century home! Long time owner, renovations include new kitchen, bathrooms, windows, roof, hardwood floors, deck covering, & new 2 car enclosed garage. Low maintenance yard, professionally landscaped. Floor to ceiling windows, lots of natural light, bright, open layout, vaulted ceilings & skylights. Grand marble slab kitchen-island, stainless steel appliances & appointments. Flexible layout, potential self contained nanny’s quarters. Walk to Deer Lake, in Buckingham Heights School catchment!

#4 ) 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

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.

#3 ) Address:6135 DUFFERIN AV, Forglen, Burnaby

June 27 V958839 $1,165,000 $0 0%
July 05 V958839 $1,065,000 $-100,000 -9%
July 11 V958839 $995,000 $-170,000 -15%
September 07 V958839 removed
September 13 V970890 $895,000 $-270,000 -23%
Open House: Sep 16, 30
Open House: Oct 13
October 20 V970890 $847,500 $-317,500 -27%

Assessment: $863,300

UPDATE: Sold for $740,000, thanks “Disowned Renter”

Prime location. Close to Metrotown, Skytrain, Schools and nature trails. The original owners have cared for this home for 51 years. 3 bedrooms on the main floor, eating area in the kitchen, separate dining room, living room has hardwood floors, fireplace and overlooks the green space of Kisby Park. Partly finished basement with recroom and large area for potential finishings. A wonderful opportunity to renovate or add on to this solid home. This 50 X 150 lot with lane is great for building up to a 4500 square feet of living space.

#2 ) 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, 23

Assessment: $264,700

3 sales in this property last year averaging 3% BELOW assessment.  This one is currently listed at 21% BELOW assessment.

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.

#1 ) Address:5335 VICTORY ST, Metrotown, Burnaby

June 22 V957859 $1,860,000 $0 0%
October 04 V957859 removed
October 07 V975677 $1,280,000 $-580,000 -31%

Assessment: $747,500

Great starter home for family or investment property. This 3 bed, 2 bath 1375 sq. ft. rancher is centrally located on a 33′ x 150′ lot. An open kitchen plan overlooking the family room inviting further to the back patio and private yard. 2 car garage at back along with open parking as well. Wood & gas F/P, wheelchair accessible, skylights & jacuzzi tub w/steam bath. Close to all amenities including skytrain.Proposed RM3 zoning.


13 responses to “Burnaby Spotlight – October 31, 2012

  1. Mike October 31, 2012 at 10:25 am

    Although I will miss your comments very much, I do understand that it must take you a tremendous amount of time to do this work and am very thankful for all you do.

  2. JR October 31, 2012 at 10:59 am

    #1,3,6 Where else in the world would a house that looks like that cost that much?

    • an observer October 31, 2012 at 11:04 am

      This is in Encinitas near San Diego and a short walk to the beach. It is 7 years old, 4000 sqft and $800K… Sold for $1.36M 7 years ago…

      And we’re comparing this to tear downs in Burnaby…

      • M- October 31, 2012 at 11:34 am

        Looking at nice places elsewhere is always a good ‘reality check’. My sense of value has been skewed by our bubble– I keep seeing crackshacks that have had price drops and thinking “wow, that’s good value”. But it’s not– it’s just good value relative to other crackshacks that that are still on early-2012 pricing. Good value in fundamental terms is still a long ways off.

      • an observer October 31, 2012 at 12:28 pm

        And consider that southern california is amongst the most expensive places in the world. $800K in most of the US gets you a beautiful home on a sprawling estate

      • JR October 31, 2012 at 3:40 pm

        You are right on point. SD and SF might be one of the most expensive places on the west coast but for the money you actually get something of value. Here you just get a 60+ yo pos teardown.

        Several months ago I looked at homes in Bellingham. You could get a near brand new 5 br home with a huge backyard overlooking the bay for $500k. If there was no border 10 minutes away how much would this home cost?

      • an observer October 31, 2012 at 4:20 pm

        Yes, the $1 million ocean view homes in Bellingham are generally much nicer than the $3.5 million+ homes in White Rock

      • Art January 30, 2013 at 11:22 am

        right on! and check this one on San Diego, a place with a lovely beach and a ocean you can go for a swimming !!

  3. Seeking knowledge and entertainment... October 31, 2012 at 1:39 pm

    Thanks for all your hard work on this site. I used to look forward to new posts weekly, now I check every other day…ok, I’m lying: every day. I’m becoming a vancouverpricedrop-aholic. It’s more entertaining than TV (which I pretty much stopped watching). Keep doing this please!!!

  4. gokou3 November 1, 2012 at 10:23 am

    #10 and #5 are within a stone throw… let the competitive price drops go on.

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