Vancouver Price Drop

Documenting Vancouver real estate price movements

Monthly Archives: November 2012

The Weekly Drop – November 26, 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.

Some highlights for this week:

  • 43 listings dropped to a cumulative total of 20%+ this week, 12 hit 25% and 6 hit 30% this week
  •  Richmond appears on the list 4 times, Whistler and Abbotsford 3 times and North Vancouver 2 times
  •  12 of 16 listings with assessment info are now listed below assessment

#20 ) Address:# 135 8880 JONES RD, Brighouse South, Richmond

March 09 V928450 $259,000 $0 0%
May 29 V928450 removed
June 04 V954164 $249,000 $-10,000 -4%
October 26 V954164 removed
October 28 V978465 $229,000 $-30,000 -12%
November 21 V978465 $199,000 $-60,000 -23%
Open House: Nov 24

Assessment: $249,900

10 sales here last year for an average of 5% ABOVE assessment and this unit is now priced 20% BELOW assessment.  Listing description still says $20K below assessment at the beginning even though they dropped it 5 days ago to $50K below assessment.  They then managed to mention the $50K drop at the end – great proof reading!  PCDS dates October 26 – I believe what this means is that the Property Condition Disclosure Statement is from a month ago so it’s possible that everything has been trashed since then

Priced $20,000 below assessment for immediate sale! North-West corner large one bedroom with windows on 2 sides. Huge sundrenched 300 sq ft patio, gas fireplace, insuite laundry. Less than 10 steps to elevator & courtyard. Central location, just 5 blocks away from bus stop & 2 blocks from shopping mall. PCDS dates October 26, 2012. Parking stall #220, 2 small pets (cats or dogs) allowed. Rentals restricted to 15 currently at maximum. Priced over $50,000 below city assessed value for immediate sale. Open House: Sat, Nov. 24th, 2-4pm.


#19 ) Address:# 1411 34909 OLD YALE RD, Abbotsford East, Abbotsford

March 09 F1129600 $118,500 $0 0%
March 30 F1129600 removed
April 11 F1208875 $112,700 $-5,800 -5%
May 24 F1208875 $106,550 $-11,950 -10%
July 07 F1208875 removed
August 10 F1220413 $97,400 $-21,100 -18%
November 09 F1220413 removed
November 25 F1227934 $91,000 $-27,500 -23%

Assessment: $135,400

6 sales here last year for an average of 3% ABOVE assessment and this unit is now listed at 32% BELOW assessment.  What a lazy listing description and it includes one of my pet peeves, abbreviations when no abbreviating is necessary in “bdrm”

1 bdrm on main floor at the Gardens. A great location in McMillan area. Complex has outdoor swimming pool. All measurements are approximate.


#18 ) Address:# 403 534 6TH ST, Uptown, New Westminster

April 12 V942573 $468,000 $0 0%
May 17 V942573 removed
May 21 V951355 $398,800 $-69,200 -15%
Open House: May 27
Open House: Jun 03
Open House: Jun 09
July 05 V951355 removed
July 08 V960830 $377,000 $-91,000 -19%
Open House: Jul 14
Open House: Jul 22
Open House: Jul 29
Open House: Aug 04
Open House: Aug 11
Open House: Aug 18
Open House: Aug 26
August 27 V960830 removed
August 30 V968580 $375,000 $-93,000 -20%
Open House: Sep 01
Open House: Sep 02
Open House: Sep 08
Open House: Sep 09
Open House: Sep 15
Open House: Sep 16
Open House: Sep 22
Open House: Sep 23
Open House: Oct 06
Open House: Oct 13
November 19 V968580 removed
November 21 V980788 $358,888 $-109,112 -23%
Open House: Nov 24
Open House: Nov 25

Assessment: No Assessment Available

This is an example of a good description and just over $200 per sqft for a renovated unit seems like a pretty good price but it isn’t selling for a reason

This extremely gorgeous 1528 sq ft unit located in the core of Uptown New Westminster has been renovated from top to bottom, Perfect location, close to royal center, Safeway, White Spot, Tim Horton’s, Starbucks, banks and many more. Renovation include new engineered cherry wood flooring in the living area, all new lighting fixtures and paints. The kitchen has brand new wood cabinet and granite countertop high-end. Bosch stainless steel appliances Master Bedroom comfortably accommodates a king size bed and a walk in closet and PLUS a spa like bath. This unit also has electric fireplace, stem washer/dryer. Modern open plan with large bedrooms and 2 parking stalls and lockers. Rental allowed.


#17 ) Address:# 17 4001 OLD CLAYBURN RD, Abbotsford East, Abbotsford

March 26 F1207507 $514,000 $0 0%
April 13 F1207507 $499,000 $-15,000 -3%
May 25 F1207507 $479,000 $-35,000 -7%
Open House: Jul 21
July 21 F1207507 $469,000 $-45,000 -9%
October 01 F1207507 $423,000 $-91,000 -18%
October 22 F1207507 removed
October 24 F1226045 $409,000 $-105,000 -20%
November 24 F1226045 $394,000 $-120,000 -23%

Assessment: $429,000

7 sales here for an average of 6% ABOVE assessment and this unit is now listed at 8% BELOW assessment.  “FAR BELOW market value” – this is just stupid…  it is obviously listed at ABOVE market value if it hasn’t been sold.  Next time don’t list your Abbotsford townhouse at 20% ABOVE assessment and you might not end up in this mess…

AMAZING opportunity here- FAR BELOW market value! Immaculate “Bradner”‘ style townhome, in the high end, gated complex of Cedar Springs. Level entry with fully finished basement, new kitchen, new tile flooring, new heat pump w/A/C,laundry on the main, workshop, freshly painted throughout. Enjoy very spacious rooms, massive decks all while taking in the beautiful mountain views! Located close to gate for quick access. Superbly maintained grounds, large clubhouse, indoor pool & sauna. Tons of patio room! Enclosed double garage. No age restrictions and you can bring your pet!


#16 ) Address:10091 DEAGLE RD, Broadmoor, Richmond

April 09 V941570 $3,788,800 $0 0%
June 30 V941570 removed
July 18 V962493 $3,788,800 $0 0%
July 31 V962493 $3,580,000 $-208,800 -6%
Open House: Aug 04
August 01 V962493 $3,490,000 $-298,800 -8%
Open House: Aug 05
October 16 V962493 removed
November 22 V980912 $2,880,000 $-908,800 -24%

Assessment: Building Unfinished at time of assessment

Almost a million off this new build.  “Walking distance to Richmond centre” – ummm, no.  Unless a 45 minute walk up #3 road is considered walking distance.  That’s just good old fashioned deception for people that don’t know the area and don’t bother to fact check.

Prestigious house in Central Richmond! Built in 2012. 9024sqft huge lot size and 4018sqft floor finishing area. Rarely find architectural and designer’s mansion. Grand open foyer with magnificent crystal chandelier, tons of drop ceiling and luxury crown moulding, marble entrance hallway, spiral staircase, spacious living room, family room and dining room located in the main floor, 2 well-equipped kitchens, granite countertops, 5 bedrooms in total with 5.5 baths, 1 den and 3 garages. HRV, A/C, lawn sprinkler system, steam bath, “home” theatre security system. Walking distance to Richmond centre and Skytrain station. Famous Maple Lane elementary and London Secondary high catchment.


#15 ) Address:1901 GLENAIRE DR, Pemberton, North Vancouver

August 29 V968365 $1,050,000 $0 0%
October 30 V968365 $818,000 $-232,000 -22%
November 20 V968365 $798,000 $-252,000 -24%
Open House: Nov 24
Open House: Nov 25

Assessment: $784,000

$1 million!  Good one!

Very livable home in this desirable area packed with amenities such as parks, riverside walks, shopping, transit access, new retail plaza & community center coming along with new residential high rise developments & senior facilities. Theselots are viewed as prime for redevelopment to higher density residential uses to compliment the new Village Center practically adjoining this quiet & well treed street. House has real hardwood floors & is in good condition. Rents in this area are quite high if used as a holding property. Perfect for holding or make application immediately for rezoning. Other lots and assembly into large sites available. OCP plans & info available. Call LS for details & other opportunities.


#14 ) Address:2393 CLARKE DR, Central Abbotsford, Abbotsford

March 09 F1125179 $579,000 $0 0%
June 30 F1125179 removed
July 08 F1217664 $578,888 $-112 0%
August 08 F1217664 removed
October 16 F1225274 $479,000 $-100,000 -17%
November 24 F1225274 $439,000 $-140,000 -24%

Assessment: $407,000

I hate this trend of saying “no HST!” on homes that aren’t new.  If your home is new and there is no HST then feel free to mention it.  This home is 50 years old, I am aware there is no HST, thanks.  “Two lots for under $480,000 – you can’t beat that!!”  Well apparently you can beat that since the new price is 2 lots for $439K!!!  Also love the initial price drop of $112 to bring it to $578,888…  That was $140K ago.

Excellent Investment!!! Buy this property and pay no HST and get a home on 2 legal lots with separate titles! Sitting on this corner of Clarke & McDougall, this home is close to all amenities and a great location for new development. Purchase this property and either keep the house and build a new house next door or use this opportunity to build two new houses. Two lots for under $480,000 – you can’t beat that!! Whether it means renovating the current house and building a new one on the other lot included or whether is means building two new houses one on each title – we have all the tools and experience to get this property working for you.


#13 ) 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%
November 01 F1217573 removed
November 22 F1227752 $189,000 $-60,900 -24%

Assessment: $279,000

1 sale here last year for 11% BELOW assessment and this unit is currently listed at 32% BELOW assessment.  Too bad since it is so “beatifull”… You know when after dropping 24% they relist at the same price they are unfortunately approaching foreclosure territory

1 bedroom and a den in a beatifull area. Court ordered sale. ‘Subject to Court Approval’. Property sold “As is where is, excludes all chattels and non-fixtures”. Measurements approximate. Schedule an appointment to view the property.


#12 ) Address:2077 FIVE COVES, Squamish, Squamish

March 26 V939332 $199,000 $0 0%
March 26 V939332 removed
November 24 V981136 $149,900 $-49,100 -25%

Assessment: No Assessment

Design and build your private getaway on this 1.75 acre recreational property located a quick 15 minute boat ride from Britannia Beach. Enjoy privacy and seclusion at Five Coves, an exclusive bay on Howe Sound with just 20 properties. Affordably priced and waiting for your ideas.


#11 ) Address:3155 E 6TH AV, Renfrew, Vancouver East

June 04 V954399 $1,199,000 $0 0%
June 22 V954399 $1,149,000 $-50,000 -4%
July 13 V954399 $1,059,000 $-140,000 -12%
August 17 V954399 $999,000 $-200,000 -17%
September 01 V954399 removed
October 07 V975716 $948,800 $-250,200 -21%
Open House: Oct 14
November 20 V975716 $889,000 $-310,000 -26%
Open House: Nov 25

Assessment: $891,000

26% in drops and now just below assessment.  Another property that would have sold for more if they weren’t so greedy but looks like they are going to ride the price drops down

22yr old freshly updated 2 level with basement. Features 3 bedrooms up and 1 bedroom in the basement, mountain view, double garage, new appliances, laminated floors and blinds. Close to school , shopping and transit.Property contains unauthorized accommodations. Open House Nov 25 Sunday 2 – 4pm.


#10 ) Address:4596 CEDARCREST AV, Canyon Heights, North Vancouver

May 16 V950279 $1,495,000 $0 0%
Open House: May 19
Open House: May 26
November 22 V950279 removed
November 24 V981099 $1,099,000 $-396,000 -26%

Assessment: $987,900

It’s a 1600 square foot house that’s over 50 years old – sorry but you’re going to get as much interest at $1.1 million as you did at $1.5 million, that being none.

Traditional Tudor side split with fabulous street appeal. Beautifully landscaped gardens with in ground sprinklers on an oversized and usable11,368 sq. ft. private lot. Renovated kitchen with light shaker style cabinets, Corian counter tops with centre island, gas cooktop and top of the line stainless appliances. Upstairs has two good sized bedrooms and a four piece bathroom. The fully finished bright basement includes a family room, generous laundry room and powder room. Crawl space for storage. Furnace and hot water tank replaced in 2002. Roof replaced 5 years ago. Well maintained throughout. A short walk to Canyon Heights Elementary and located in coveted Handsworth school catchment. Enjoy amenities of nearby Edgemont Village.


#9 ) 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
Open House: Oct 07
Open House: Oct 21
Open House: Nov 04
Open House: Nov 17
November 23 F1220515 $899,000 $-331,000 -27%

Assessment: Building Unfinished at time of assessment

This new 5000 square foot home is down 27% and is now under $200 per sqft not including lot price!

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!


#8 ) Address:7306 CLOVER RD, Pemberton, Whistler Pemberton

March 09 V901344 $797,000 $0 0%
April 20 V901344 $849,000 $0 0%
June 30 V901344 removed
July 22 V963403 $799,000 $-50,000 -6%
August 31 V963403 $719,000 $-130,000 -15%
September 24 V963403 removed
September 26 V973469 $694,000 $-155,000 -18%
October 21 V973469 $669,000 $-180,000 -21%
November 07 V973469 $649,000 $-200,000 -24%
November 22 V973469 $619,000 $-230,000 -27%

Assessment: $1,002,000

They tried the ‘ol flip flop back in April by raising the price but that brilliant plan failed.  A court ordered sale that is about 40% BELOW assessment…

24 acres in the Pemberton Valley with great possibilities. Currently operating as a hostel, there is plenty of room for everyone here. The lot is very private near the end of a cul-de-sac and not far from the Pemberton Village. There are several outbuildings, a barn, gazebo, and storage shed, some with power. This is a court ordered sale and listed well below assessed value. Great possibilities to build the family estate on this private acreage in the Pemberton Valley.


#7 ) Address:# 206 22720 119TH AV, East Central, Maple Ridge

March 17 V937820 $78,800 $0 0%
May 14 V937820 removed
August 22 V967375 $149,900 $0 0%
November 06 V967375 $129,900 $-20,000 -13%
November 20 V967375 $109,000 $-40,900 -27%

Assessment: $130,700

1 sale here last year for 7% ABOVE assessment and this unit is currently listed at 16% BELOW assessment.  Not exactly sure what happened here but it failed to sell for under $80K earlier in the year then was increased to $150K…  Now back down to $109K but still $30K above the initial failed price.  Maybe there was a special assessment which the owner paid some time between May and August?  That would be my guess but you figure they would mention this important detail in the description so who knows…

2 level apartment with a large roof top deck, 2 bedrooms, 2 bathrooms, insuite laundry, onsite parking. Near shopping, transit & leisure centre.


#6 ) Address:# 204 3411 SPRINGFIELD DR, Steveston North, Richmond

May 26 V952415 $264,900 $0 0%
June 20 V952415 $249,900 $-15,000 -6%
July 17 V952415 $239,900 $-25,000 -9%
July 26 V952415 $225,000 $-39,900 -15%
August 29 V952415 $219,000 $-45,900 -17%
September 28 V952415 $209,000 $-55,900 -21%
October 11 V952415 $201,700 $-63,200 -24%
October 24 V952415 $199,000 $-65,900 -25%
November 21 V952415 $185,000 $-79,900 -30%

Assessment: $265,900

5 sales here last year for an average of 6% ABOVE assessment and this unit is now listed at 30% BELOW assessment.  “All offers are subject to court approval”. 

Bayside Court. Spacious 3 bdrm, 2 bath, end unit condo overlooking the courtyard, huge private enclosed balcony off living room, generous-sized bedrooms, walk-in closet and 2 pc ensuite bathroom in master bedroom. Great amenities: sauna, outdoor pool and 2 guest suites. Location within walking distance to Steveston Public Market, to the dyke, park, public transit, Manoah Steves Elementary & Huge Boyd Secondary. All offers are subject to court approval. Finished area includes 63 sf of enclosed balcony.


#5 ) Address:3125 SUTHERLAND RD, Pemberton, Whistler Pemberton

April 16 V943485 $418,000 $0 0%
September 20 V943485 $329,000 $-89,000 -21%
November 21 V943485 $289,000 $-129,000 -31%

Assessment: $282,000

Private Birken Oasis… Situated in the heart of Sea to Sky Country surrounded by mountain views is a unique 8.4 +/- acre property with a cozy cabin offering total privacy & pristine natural beauty. A short drive to Anderson Lake – with fabulous fishing, boating recreation & approximately an hour away to all the World Class amenities of Whistler-Blackcomb skiing, golfing, shopping, hiking……


#4 ) 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%
September 29 F1217342 removed
October 05 F1224795 $599,890 $-199,110 -25%
November 23 F1224795 removed
November 26 F1227970 $530,000 $-269,000 -34%

Assessment: $621,000

“PRICED TO SELL FAST AND WILL NOT LAST!!” has been in their description all year…  Maybe they are serious this time?

CHEAPEST 1 ACRE IN ALL OF FLEETWOOD!!! BUILD YOUR DREAM HOME AT A FRACTION OF THE PRICE! 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!!


#3 ) Address:16535 TIMBERLINE RD, Pender Harbour, Sunshine Coast

June 01 V953784 $230,000 $0 0%
June 30 V953784 $210,000 $-20,000 -9%
August 10 V953784 $200,000 $-30,000 -13%
August 30 V953784 $180,000 $-50,000 -22%
September 27 V953784 $170,000 $-60,000 -26%
November 02 V953784 $165,000 $-65,000 -28%
November 23 V953784 $150,000 $-80,000 -35%

Assessment: $169,400

This one bedroom one bath property offers a peaceful get away from the big city. It is minutes from the Earls Cove ferry, and the treed lot provides all the privacy you could ever want. A view corridor could be opened up to the ocean as the property is bordered on one side by an undeveloped road allowance. Perfect for the couple or family who want a rural retreat without the big price tag.


#2 ) Address:18700 RIVER RD, East Richmond, Richmond

April 26 V945639 $1,210,900 $0 0%
May 23 V945639 $1,139,750 $-71,150 -6%
June 21 V945639 $1,110,900 $-100,000 -8%
July 24 V945639 $779,900 $-431,000 -36%
August 23 V945639 $756,900 $-454,000 -37%
September 25 V945639 $734,900 $-476,000 -39%
October 25 V945639 $719,900 $-491,000 -41%
November 22 V945639 $689,900 $-521,000 -43%

Assessment: $841,800

43% off the original price – will it hit 50%?

2.29 AC (99,752 sq ft) acreage on River Rd in North Richmond. Easy access to Vancouver via Knight Street Bridge & Hamilton (East Richmond) featuring all amenities & large shopping centre. Excellent holding property, 3 bedroom house tenanted. Hold now or build your dream home. The Vendor will not accept any offers to purchase from any individual that is an employee of Toronto Dominion Bank or any of its subsidiaries or affiliated corporations”


#1 ) Address:# 404-D 2020 LONDON LN, Whistler, Whistler Pemberton

December 23 V922939 $115,000 $0 0%
March 09 V922939 $90,000 $-25,000 -22%
June 06 V922939 $79,000 $-36,000 -31%
August 25 V922939 $72,900 $-42,100 -37%
November 21 V922939 removed
November 23 V980969 $59,000 $-56,000 -49%

Assessment: $74,100

Was already the 2nd most dropped property in Whistler before this latest drop and now relisted almost 20% below the previous price!  Initially priced 55% ABOVE assessment and now priced 20% BELOW assessment.  Is there anyone in the market for a quarter share like this in whistler?  Based on the number of these that end up in the weekly drop I’d say the market is limited regardless of how low they go.

The newest and most modern of all quarter-share in Whistler…Short walk to ski-lifts, restaurants and stores. Fantastic amenities, including pool, steam, sauna, jacuzzi. All the luxury and convenience for a 1/4 the cost. Clean modern, functional with that ‘new’ feeling to this spacious condo in Whistler’s Creekside neighbourhood. This one-fourth interest allows owners to use or rent out their property for one week per month throughout the year with a 2 week bonus every four years at Christmas.

 

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The Weekly Drop – November 19, 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.

Some highlights for this week:

  • 40 listings dropped to a cumulative total of 20%+ this week, 17 hit 25% and 7 hit 30% this week
  •  Mission appears 3 times and Richmond, Vancouver West, North Vancouver and Maple Ridge all appear 2 times
  •  13 of 18 listings with assessment info are now listed below assessment

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

No Picture

August 17 F1220993 $325,000 $0 0%
September 05 F1220993 $249,800 $-75,200 -23%
November 08 F1220993 removed
November 18 F1227597 $249,000 $-76,000 -23%

Assessment: $236,200

First price drop was $75K and the second price drop was $800…  I suspect the next price drop will be more than $800.

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.


#19 ) Address:2376 GONDOLA WY, Whistler, Whistler Pemberton

March 09 V914104 $2,599,000 $0 0%
June 29 V914104 $2,250,000 $-349,000 -13%
November 17 V914104 $1,990,000 $-609,000 -23%

Assessment: $2,266,000

Awesome executive home, quality throughout, excellent sun and views, adjacent to ski home trails of Whistler Mountain. 4 bedrooms, 4 bathrooms, large media room and beautifully crafted wine cellar. Double car garage and covered hot tub which enjoys privacy and good views. This home has it all.


#18 ) Address:# 207 33731 MARSHALL RD, Central Abbotsford, Abbotsford

No Picture

March 09 F1204757 $184,900 $0 0%
April 12 F1204757 $174,900 $-10,000 -5%
April 28 F1204757 $164,900 $-20,000 -11%
May 12 F1204757 $159,900 $-25,000 -14%
September 01 F1204757 removed
October 10 F1224948 $159,000 $-25,900 -14%
October 23 F1224948 $152,500 $-32,400 -18%
November 08 F1224948 removed
November 16 F1227455 $139,900 $-45,000 -24%

Assessment: $171,300

3 sales last year for an average of 4% ABOVE assessment and this unit is currently listed at 18% BELOW assessment.  If they would have properly priced this to begin with they probably could have sold this for $20-$30K more than they are now asking back in the beginning of the year.  “Perfect to get on the property ownership ladder” or rent it for half the cost and buy it in a few years for under $100K

Great 2 bedroom unit in desirable Stephanie Place. Large open floor plan lends itself to comfortable living with a cozy gas fireplace and modern colors. This unit is priced low to sell fast! Perfect to get on the property ownership ladder. Super starter home or retirement opportunity, this is the perfect place to call home.


#17 ) Address:# 125 3411 SPRINGFIELD DR, Steveston North, Richmond

May 26 V952576 $258,800 $0 0%
Open House: May 27
Open House: Jun 03
Open House: Jun 24
June 23 V952576 $244,900 $-13,900 -5%
Open House: Jun 30
Open House: Jul 15
July 12 V952576 $234,900 $-23,900 -9%
Open House: Jul 22
Open House: Jul 21
Open House: Jul 28
Open House: Aug 05
Open House: Aug 11
Open House: Aug 18
Open House: Aug 19
Open House: Aug 26
September 05 V952576 removed
September 09 V969851 $224,000 $-34,800 -13%
Open House: Sep 09
Open House: Sep 16
Open House: Sep 15
Open House: Sep 30
Open House: Sep 29
October 05 V969851 $205,000 $-53,800 -21%
Open House: Oct 13
Open House: Oct 14
Open House: Oct 21
Open House: Oct 28
Open House: Nov 04
Open House: Nov 11
Open House: Nov 18
November 17 V969851 $195,000 $-63,800 -25%

Assessment: $289,400

5 sales here last year averaging 6% ABOVE assessment and this unit is now listed at 32% BELOW assessment…  Court Ordered Sale

Court Order Sale – spacious 1345 sqft 3 bdrm corner unit practical layout & space. Open concept living & dining room, enclosed patio. Updated kitchen SS appliances, newer cabinet, tile backsplash & tile flooring. Master bdrm has 2 pc ensuite & walk-in-closet. Well maint complex – building re-piped & painted inside & out, new windows (2010) & new boiler (2011). Amenities include outdoor swimming pool, rooftop patio & guest suites. Great Steveston North location within walking distance to schools, shopping, transit, park, historic Steveston Village & the West Dyke trails. Open Sunday Nov 18th, 2-4pm.


#16 ) Address:150 BOUNDARY RD, Vancouver Heights, Burnaby

March 06 V935578 $2,397,000 $0 0%
May 29 V935578 $2,188,000 $-209,000 -9%
August 14 V935578 removed
September 06 V969082 $1,899,000 $-498,000 -21%
November 16 V969082 $1,795,000 $-602,000 -25%

Assessment: $1,412,000

25% drop in price and is still unbelievably overpriced.  This one could make a run at the top spot in the coming weeks and months

Fall in love with this lovely custom designed home, in a well situated location for easy access to downtown (minutes), Northshore (minutes), freeway access (minutes). Water, mountain & city views from every level, home features, solid fir doors & casing & baseboards, jatoba hardwood flooring, brazilian cherry stairs, custom arts & crafts fireplace, home to be viewed by appt. Please, Thanks.


#15 ) Address:# 802 1405 W 12TH AV, Fairview, Vancouver West

March 14 V936789 $869,000 $0 0%
April 28 V936789 $859,000 $-10,000 -1%
July 12 V936789 removed
August 31 V968623 $719,000 $-150,000 -17%
Open House: Sep 09
Open House: Sep 16
Open House: Sep 22
Open House: Sep 29
Open House: Oct 07
October 05 V968623 removed
October 07 V975743 $669,000 $-200,000 -23%
Open House: Oct 14
Open House: Oct 21
Open House: Oct 28
Open House: Nov 11
Open House: Nov 18
November 16 V975743 $649,900 $-219,100 -25%

Assessment: $675,000

1 sale here last year for 6% BELOW assessment and this unit is currently 4% BELOW assessment.  Not to mention ” being upgraded at sellers expense”.  I don’t often say this but this one probably won’t last too long but they would have sold for a lot more back in March if they dialed back the greed plus they might have got away without paying for the building upgrades

The Warrenton. Gorgeous north, east and south VIEWS.Only 2 suites per floor. Generous floor plan with 1202 sq ft, 2 BDRMS + DEN, 2 baths and 2 PARKING stalls with STORAGE LOCKER. Recently renovated with hardwood floors and an updated gourmet kitchen and a gas fireplace. A fantastic suite to entertain with large living space with two balconies facing north and south. A solid well maintained building which is also being upgraded at sellers expense to give you added peace of mind. ONLY 31 SUITES with 2 elevators. Loads of BICYCLE STORAGE. 5 minutes to Downtown, 15 mins to YVR and an easy bus ride to UBC. Enjoy all the shops and galleries South Granville has to offer. PETS OK! OPEN HOUSE SUNDAY November 18 3pm-5pm


#14 ) Address:6121 GLENEAGLES DR, Gleneagles, West Vancouver

May 04 V947366 $3,898,000 $0 0%
June 06 V947366 $3,685,000 $-213,000 -5%
June 27 V947366 removed
June 30 V959385 $3,290,000 $-608,000 -16%
August 17 V959385 $2,999,000 $-899,000 -23%
October 01 V959385 removed
October 05 V975318 $2,999,000 $-899,000 -23%
Open House: Oct 14
Open House: Nov 11
November 15 V975318 $2,899,000 $-999,000 -26%
Open House: Nov 17

Assessment: Building Unfinished

$1 million in reductions on this new home in West Vancouver

Italy on the Pacific Coast. Elegant, clean lines, form and function all come to mind throughout this Grand Home. European influence is all around from the Carrera marble, Hand picked Italian tile and stone, Colombo door hardware, Swedish Oak floors, and Miele appliances. The Eclipse doors, Montigo Fireplace, “Blu” vanity, sinks and the stylish “Luna” tub, and much, much more. West facing water views from every window and East onto Gleaneagles Golf Course. A short stroll to Larson Bay, Seawall walk or the clubhouse for brunch? 5 minutes to Caulfied Village or 12 minutes to Park Royal. Mason Kent has given shape to the ideas of the owners of this Home and the result is a stunning masterpiece.


#13) Address:4507 CEDARCREST AV, Canyon Heights, North Vancouver

June 28 V959011 $1,325,000 $0 0%
August 04 V959011 $1,250,000 $-75,000 -6%
August 25 V959011 $1,175,000 $-150,000 -11%
September 19 V959011 $1,125,000 $-200,000 -15%
October 06 V959011 $1,075,000 $-250,000 -19%
October 27 V959011 $1,025,000 $-300,000 -23%
November 17 V959011 $975,000 $-350,000 -26%

Assessment: $954,500

Another case of incredible greed and it likely cost this person at least a couple of hundred thousand dollars, tax free!  It’s a common theme on these weekly drops – very few homes on these lists were initially priced reasonable and most have dropped way past the point they would have sold at just 9 months ago.  “Sold As Is, Where Is.”, that sure makes me feel confident.

Canyon Heights 2 level, 4 bedroom, 2 bathroom 2,100 sq/ft family home on a large, private lot located on a quiet, low traffic street. Offering an L-shaped dining room and living room with wood burning fireplace, vaulted ceilings, and French doors to a covered deck. Completing the main is a kitchen, 4 piece bathroom, and 2 bedrooms. The suite potential, walk-out lower level offers a recreation room, two bedrooms, 4 piece bathroom, large utility room, and plenty of storage. Featuring a partially treed, private lot, with peek-a-boo view potential. Ideal to renovate, rent and hold, or redevelop. Ideal location minutes to Edgemont Village, and just a short walk to Canyon Heights Elem. and Handsworth Sec. Schools. Sold As Is, Where Is.


#12 ) Address:13011 250TH ST, Websters Corner, Maple Ridge

September 22 V911968 $669,000 $0 0%
January 30 V911968 $639,000 $-30,000 -4%
March 09 V911968 $629,900 $-39,100 -6%
June 13 V911968 $599,900 $-69,100 -10%
September 01 V911968 removed
September 13 V970862 $599,000 $-70,000 -10%
September 27 V970862 removed
September 29 V974231 $549,900 $-119,100 -18%
October 18 V974231 $509,900 $-159,100 -24%
November 01 V974231 $494,900 $-174,100 -26%
November 17 V974231 $489,900 $-179,100 -27%

Assessment: $537,000

Great family home on 1.777 acres, on quiet cul-de-sac, backing onto greenbelt. Spacious 2 storey home with 4 bedrooms plus family room up, 2 ? baths, and double garage.


#11 ) Address:1029 DEVONSHIRE CR, Shaughnessy, Vancouver West

March 09 V931906 $3,288,000 $0 0%
July 03 V931906 removed
July 08 V960829 $2,988,000 $-300,000 -9%
September 01 V960829 $2,760,000 $-528,000 -16%
October 17 V960829 $2,560,000 $-728,000 -22%
November 17 V960829 $2,380,000 $-908,000 -28%

Assessment: $2,401,000
Last Sale: $2,499,888 on 25/Jun/2011
Total Loss IF sold for list price: 125,238 transaction costs and 119,888 loss on sale = LOSS of 245,126

Quarter million dollar loss and counting on this failed flip but “It’s a good investment opportunity!”.  Too bad, so sad!  Over 20% of listed homes in Shaughnessy right now were purchased just one year ago – this is not including new builds.

South exposure solid house. 3 level, 3 bedroom + den home in Shaughnessy area. This house is in livable condition and/or to build a dream house by yourself in the future. It’s a good investment opportunity!


#10 ) Address:12468 CARDINAL ST, Steelhead, Mission

March 22 F1207024 $677,000 $0 0%
September 21 F1207024 removed
September 25 F1223928 $579,900 $-97,100 -14%
October 25 F1223928 $549,900 $-127,100 -19%
November 16 F1223928 $489,900 $-187,100 -28%

Assessment: $623,000

Rancher with full walkout basement on 11.87 acres! Subdividable property with 2 road frontages, roughly 60% is cleared and could easily accommodate livestock. Home is in good condition. Call for your personal showing today. * PREC – Personal Real Estate Corporation


#9 ) Address:750 FORSMAN AV, Lynnmour, North Vancouver

March 09 V878754 $1,658,000 $0 0%
March 13 V878754 $1,388,000 $-270,000 -16%
June 07 V878754 removed
November 15 V980122 $1,188,000 $-470,000 -28%

Assessment: $676,800

Developer Alert! This 9,333 sq ft corner property permits triplex & 3 storey townhomes at 0.8 FSR by approval of District of North Vancouver. Adjacent 1562 E. Keith Rd is available (MLS V904916), combined total 18,476 sq ft. Cul-de-sac, towering cedars are buffer to roadway, recreation, greenbelt, equestrian centre, Lynn Creek, Seymour River, multiple parks, dog walking trails, schools, University, super shopping, theatre, restaurants, etc. Excellent bus service. This location has the fastest access to Greater Vancouver from the North Shore. View by appointment or from streets, do not disturb occupants. Seller motivated.


#8 ) Address:1451 LAMBERT WY, Hockaday, Coquitlam

June 23 V958276 $1,175,000 $0 0%
October 01 V958276 removed
October 06 V975369 $874,900 $-300,100 -26%
Open House: Oct 21
November 16 V975369 $834,900 $-340,100 -29%

Assessment: $738,000

What were they smoking when they came up with $1.175 million as the initial price for this home?

Location! Location! Set on a quiet street a spacious family home backs onto Coquitlam River and Galette Park. This executive 2 storey with basement has vaulted ceilings and an open staircase to the upper floor where there are 4 bedrooms. The master bedroom has a 4 piece ensuite and overlooks the park and river. Main floor has a den/office and family room with lots of windows to take advantage of the green belt view. Bring the in-laws, the lower level is a walk out basement with 3 bedrooms, a large living area and a summer kitchen. Fully landscaped rear yard with lots of flowers and shrubs, plus a hot tub. Enjoy the sound of the river from the master bedroom or relaxing on the deckor in yard or hot tub. Peace and quiet at its best!


#7 ) Address:9571 NO 4 RD, Saunders, Richmond

August 04 V959259 $591,600 $0 0%
August 08 V959259 $558,000 $-33,600 -6%
September 09 V959259 $519,888 $-71,712 -12%
September 22 V959259 $498,800 $-92,800 -16%
October 04 V959259 $488,000 $-103,600 -18%
October 23 V959259 $448,000 $-143,600 -24%
November 10 V959259 $428,000 $-163,600 -28%
November 14 V959259 $408,000 $-183,600 -31%

Assessment: $486,300

This property makes this Weekly Drop on back to back weeks

LIVE in it, RENT it out, HOLD it for future development !! This half duplex has huge potential to be part of a multiple family land assembly, but is priced affordably. 3 BR + 1.5 bathroom and substantially renovated. Single Garage. Large Western exposed lot, near to schools, parks, and transportation routes. Interior, carpets and paint, HW tank, and lighting updated. Roof done 2002. Please allow notice to show. All measurements approximate and to be confirmed by Buyer. See MLS#V956594


#6 ) Address:32913 14TH AV, Mission BC, Mission

March 09 F1205726 $295,000 $0 0%
April 21 F1205726 removed
April 23 F1210290 $284,900 $-10,100 -3%
May 04 F1210290 $279,900 $-15,100 -5%
May 15 F1210290 $274,900 $-20,100 -7%
June 16 F1210290 $264,900 $-30,100 -10%
July 11 F1210290 $255,000 $-40,000 -14%
July 14 F1210290 $245,500 $-49,500 -17%
August 15 F1210290 $235,900 $-59,100 -20%
September 13 F1210290 $224,900 $-70,100 -24%
October 19 F1210290 $214,900 $-80,100 -27%
November 15 F1210290 $199,900 $-95,100 -32%

Assessment: $298,000

Over 33% BELOW assessment and counting on this home

Ample parking and only a short walk to Centennial Park from this 4 bed / 2 bath rancher in a great location. The large kitchen and lavish main bathroom make this a must see property. Separate dining room and living room for entertaining. Fully finished basement with bedroom, rec room and bathroom complete this home. RV parking is available and extra deep single car garage makes for a great work shop.


#5 ) Address:2507 LEHMAN RD, Roberts Creek, Sunshine Coast

March 09 V929382 $399,000 $0 0%
July 13 V929382 removed
July 15 V962228 $329,900 $-69,100 -17%
August 11 V962228 $317,900 $-81,100 -20%
September 12 V962228 $305,000 $-94,000 -24%
October 13 V962228 removed
November 16 V980343 $269,990 $-129,010 -32%

Assessment: $340,700

“bring your horses.”

Handyman Special. Hobby farm of 4.6 acres in Roberts Creek. This property has a barn and numerous outbuildings. This home needs love and attention, offers a fabulous opportunity for the right buyer. Riding ring and fenced paddocks…bring your horses.


#4 ) 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%
October 16 F1214691 $179,900 $-69,100 -28%
November 03 F1214691 $169,900 $-79,100 -32%
November 15 F1214691 $154,900 $-94,100 -38%

Assessment: No Assessment

This property has made the Weekly Drop a few times.  “It is wet at the bottom, then rises steeply up the mountain.”.  Sounds like the perfect property… for a water slide

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. * PREC – Personal Real Estate Corporation


#3 ) Address:24243 101A AV, Albion, Maple Ridge

August 10 V965832 $499,000 $0 0%
September 07 V965832 $469,900 $-29,100 -6%
October 19 V965832 $369,000 $-130,000 -26%
November 09 V965832 removed
November 15 V980056 $299,900 $-199,100 -40%

Assessment: $530,000

“BEAUTIFUL and ELEGANT” … “damaged by fire and a former grow-op.  extensive work to be done”.  43% BELOW assessment…

GREAT POTENTIAL HERE in “Mainstone Creek”– This two storey w/ full walkout basement, BEAUTIFUL and ELEGANT, 6 bedroom, 3.5 bathroom home was partially damaged by fire and a former grow-op. Price reflects the extensive work to be done –currently no flooring, missing drywall, roof truss and vinyl siding on outside needs repair from fire damage. Features include maple kitchen and island, family room/great room with gas fireplace, ensuite soaker tub and separate shower, and quiet location.


#2 ) 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%
September 27 F1220063 $1,039,000 $-941,000 -48%
November 17 F1220063 $999,000 $-981,000 -50%

Assessment: $1,017,000

What’s more amazing, the fact that it has now dropped 50% and finally dipped below assessment OR the fact that it has dropped 50% and didn’t make 1st spot on the weekly list?

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. * PREC – Personal Real Estate Corporation


#1 ) Address:# 306 1371 FOSTER ST, White Rock, White Rock

October 18 F1125845 $225,000 $0 0%
November 27 F1125845 $219,785 $-5,215 -2%
September 01 F1125845 removed
October 04 F1224577 $119,900 $-105,100 -47%
November 15 F1224577 $109,900 $-115,100 -51%

Assessment: $228,200

1 sale here last year for 5% BELOW assessment (and this happened just back in October) and this unit is currently listed at 52% BELOW assessment.  I’m guessing the buyer in October didn’t take a look at the strata minutes…

Needs A Little Work, But Look At This Price, (note there is an upcoming assessment of approximately $63,000). You absolutely have to see this 2 bed, 2 bath top floor unit in the heart of White Rock. This unit boasts a large master bedroom walk thru closet, lots of storage and an Ocean View. Great extra’s such as in suite laundry, updated kitchen, fresh paint, attractive crown mouldings and large balcony with ocean views. Walking distance to shopping dining and the beach, no rentals, 19 plus and pets allowed with restrictions.

Desperation Meter – November 16, 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

  • Maple Ridge, North Vancouver and Mission all make the list 2 times
  • 8 of 9 listings with assessment info are listed below assessment

#10 ) 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%
November 05 V970890 removed
November 09 V979559 $795,000 $-370,000 -32%
Open House: Nov 17

Assessment: $863,300

Desperation Score: 37.5

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

Prime location. Close to Metrotown, skytrain, schools & 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 floor, fireplace & overlooks the green space of Kisby Park. Partly finished basement with recroom & large area for potential finishings. A wonderful opportunity to renovated or add on to this solid home. This 50×150 lot with lane is great for building up to 4500 Sf of living space.Open Nov 17 Sat 2-4


#9 ) Address:274 RUPERT ST, Hope Center, Hope and Region

March 09 H1104578 $469,000 $0 0%
April 09 H1104578 $489,000 $0 0%
May 17 H1104578 removed
May 19 H1202138 $439,000 $-50,000 -10%
June 09 H1202138 $419,000 $-70,000 -14%
June 26 H1202138 $409,000 $-80,000 -16%
July 14 H1202138 $399,000 $-90,000 -18%
July 24 H1202138 $379,000 $-110,000 -22%
August 17 H1202138 removed
October 12 H1204081 $319,900 $-169,100 -35%
October 23 H1204081 $309,900 $-179,100 -37%
November 01 H1204081 $299,900 $-189,100 -39%

Assessment: $455,000

Desperation Score: 38.2

Great location in Hope, set on treed lot with waterfront views of Fraser. A fisherman’s dream home. Conveniently located close to boat launch. This is a unique home with over 3000 sq.ft., 5 bedrooms, rec room and games room. Lots of windows to take in the scenic views. Needs some updating, but lots of potential. Central to shopping. * PREC – Personal Real Estate Corporation


#8 ) Address:24243 101A AV, Albion, Maple Ridge

August 10 V965832 $499,000 $0 0%
September 07 V965832 $469,900 $-29,100 -6%
October 19 V965832 $369,000 $-130,000 -26%
November 09 V965832 removed
November 15 V980056 $299,900 $-199,100 -40%

Assessment: $530,000

Desperation Score: 38.3


#7 ) Address:# 5 550 BROWNING PL, Seymour, North Vancouver

March 09 V934418 $745,000 $0 0%
March 28 V934418 $739,900 $-5,100 -1%
April 12 V934418 $734,900 $-10,100 -1%
May 05 V934418 $729,900 $-15,100 -2%
Open House: May 19, 20
May 21 V934418 $719,900 $-25,100 -3%
Open House: May 26, 27
June 08 V934418 $699,900 $-45,100 -6%
Open House: Jun 16, 17, 23, 24, 30
Open House: Jul 01, 07, 08
July 20 V934418 removed
July 22 V963428 $689,900 $-55,100 -7%
Open House: Jul 29
Open House: Aug 12, 19
August 22 V963428 $649,900 $-95,100 -13%
Open House: Aug 26
Open House: Sep 09, 16
October 11 V963428 removed
October 13 V976485 $648,900 $-96,100 -13%
October 19 V976485 removed
October 26 V978041 $635,000 $-110,000 -15%
Open House: Oct 28

Assessment: $677,000

Desperation Score: 39.3

2 sales here last year for an average of 1% BELOW assessment and this unit is currently priced at 6% BELOW assessment

Beautiful Tanager Townhouse. This former display suite features many fantastic built-ins and boasts 1705 square feet on 3 levels including 4 bedrooms and 3 bathrooms. The main floor features a great open kitchen with oversized island, quartz counter tops and stainless steel appliances, family room, nook, dining room and living room with fireplace and access to deck. 3 bedrooms up including ensuite master that can fit king sized bed, and additional 4 pc bathroom. Downstairs includes 4th bedroom or recroom, full bathroom and access to your 1 car garage with plenty of storage space. South facing, on the quite side of the building and looking into a greenbelt. Come and see for yourself, you will not be disappointed.


#6 ) Address:# 10 2986 COAST MERIDIAN RD, Birchland Manor, Port Coquitlam

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%
Open House: Sep 30
September 29 V972985 $309,000 $-80,900 -21%
Open House: Oct 13
October 20 V972985 $299,000 $-90,900 -23%

Assessment: $373,000

Desperation Score: 40.1

2 sales last year averaging 1% BELOW assessment and this one is currently listed at 20% BELOW assessment!

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 tile 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. Hurry on this one, with it’s quiet location and updated it wont last.


#5 ) Address:9571 NO 4 RD, Saunders, Richmond

August 04 V959259 $591,600 $0 0%
August 08 V959259 $558,000 $-33,600 -6%
September 09 V959259 $519,888 $-71,712 -12%
September 22 V959259 $498,800 $-92,800 -16%
October 04 V959259 $488,000 $-103,600 -18%
October 23 V959259 $448,000 $-143,600 -24%
November 10 V959259 $428,000 $-163,600 -28%
November 14 V959259 $408,000 $-183,600 -31%

Assessment: $486,300

Desperation Score: 41.3

LIVE in it, RENT it out, HOLD it for future development !! This half duplex has huge potential to be part of a multiple family land assembly, but is priced affordably. 3 BR + 1.5 bathroom and substantially renovated. Single Garage. Large Western exposed lot, near to schools, parks, and transportation routes. Interior, carpets and paint, HW tank, and lighting updated. Roof done 2002. Please allow notice to show. All measurements approximate and to be confirmed by Buyer. See MLS#V956594


#4 ) 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%
October 13 V965433 $374,900 $-323,100 -46%
October 31 V965433 $349,000 $-349,000 -50%

Assessment: $526,000

Desperation Score: 43.5

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.


#3 ) 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%
October 16 F1214691 $179,900 $-69,100 -28%
November 03 F1214691 $169,900 $-79,100 -32%
November 15 F1214691 $154,900 $-94,100 -38%

Assessment: No Assessment

Desperation Score: 43.5

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. * PREC – Personal Real Estate Corporation


#2 ) Address:518 E 1ST ST, Lower Lonsdale, North Vancouver

July 15 V962307 $895,000 $0 0%
Open House: Jul 15, 21, 22
July 25 V962307 $875,000 $-20,000 -2%
Open House: Jul 28, 29
July 31 V962307 $850,000 $-45,000 -5%
Open House: Aug 04, 05
August 09 V962307 $838,000 $-57,000 -6%
Open House: Aug 11, 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, 26
September 05 V962307 removed
September 09 V970178 $795,000 $-100,000 -11%
Open House: Sep 09, 15
September 19 V970178 $785,000 $-110,000 -12%
September 28 V970178 $768,000 $-127,000 -14%
Open House: Sep 30
Open House: Oct 07, 13, 14
October 16 V970178 $749,000 $-146,000 -16%
Open House: Oct 20, 21
October 24 V970178 $729,000 $-166,000 -19%
Open House: Oct 28
Open House: Nov 03, 04
November 05 V970178 removed
November 10 V979771 $699,000 $-196,000 -22%
Open House: Nov 10, 11, 17, 18

Assessment: $670,900

Desperation Score: 53.0

Don’t miss seeing this well maintained bungalow featuring 2 fully finished 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. Open House: Sat & Sun, Nov 17th & 18th, 1:00-4:00 PM.


#1 ) Address:34463 ROCKRIDGE PL, Hatzic, Mission

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%
October 03 F1211519 removed
October 04 F1224553 $429,000 $-70,000 -14%
October 25 F1224553 $420,000 $-79,000 -16%

Assessment: $494,000

Desperation Score: 54.6

Quality rancher with loft in exclusive Rockridge Estates! Luxurious Main floor living with no stairs, plus a loft upstairs with extra bedroom, bathroom and games room.! Enjoy this spacious kitchen overlooking park-like backyard on tranquil greenbelt, dining room, living room, office, the Master Bedroom showcases en suite with soaker tub and shower! In-floor radiant heating, oversized double garage and large driveway, secure gated neighborhood with low $40 per month strata Incredible Value! Take advantage of this incredible home today!

The Weekly Drop – November 12, 2012

Sorry about the late posting again – Here are the 20 properties that dropped their price the previous week AND have dropped the largest percentage overall from their original asking price.

Some highlights for this week:

  • 50 listings dropped to a cumulative total of 20%+ this week, 20 hit 25% and 4 hit 30% this week
  •  West Vancouver appears 3 times, New Westminster, Whistler, Vancouver West and Richmond all make the list 2 times
  •  15 of 18 listings with assessment info are now listed below assessment for a total of 83% beating last weeks record setting percentage

UPDATE: Added some new information to listing #1


#20 ) Address:4785 CAPILANO RD, Canyon Heights, North Vancouver

No Picture

May 12 V949678 $1,150,000 $0 0%
June 26 V949678 $1,025,000 $-125,000 -11%
September 22 V949678 $888,000 $-262,000 -23%
November 09 V949678 removed
November 11 V979939 $865,000 $-285,000 -25%

Assessment: $969,800

Everything is here…Location, Lot size, Price!! The property is priced just for the land although a large & workable floor plan is included as a super bonus. Remodel the house with your own stamp or build new on this fantastic rarely available huge, flat & sunny lot in walking distance to Handsworth school, Grouse mountain skiing/grind, play/sport fields, restaurants, coffee shops/shopping. Enjoy your dream home on this heavenly Stanley Park like spot.


#19) Address:2611 CHARTER HILL PL, Upper Eagle Ridge, Coquitlam

March 09 V919704 $998,000 $0 0%
May 05 V919704 removed
May 26 V952410 $850,000 $-148,000 -15%
Open House: May 27
Open House: Jun 03
July 31 V952410 $825,000 $-173,000 -17%
August 14 V952410 $800,000 $-198,000 -20%
Open House: Aug 26
Open House: Sep 15
Open House: Sep 22
Open House: Sep 23
Open House: Sep 29
Open House: Sep 30
October 04 V952410 $780,000 $-218,000 -22%
October 24 V952410 removed
October 27 V978240 $770,000 $-228,000 -23%
Open House: Nov 04
November 06 V978240 $750,000 $-248,000 -25%

Assessment: $949,000

3 price drops in a little over a month and now listed over 20% BELOW assessment which is pretty rare for a liveable single family home not in foreclosure.  It’s obviously empty looking at the pictures – is this someone who bought a new place before selling, an overseas “investor” or an investment property?  I’m thinking the answer is (A) and this is a big mistake that many will make

Custom designed home currently assessed at $949,000! From the moment you walk in, you will be amazed by the spaciousness of the grand foyer with marble flooring and dramatic staircase leading to the upper floors. Situated on a hill with spectacular panoramic mountain views from your two balconies. This home is perfect for the largest of families with lots of space. Perfect location, close to amenities and schools.


#18 ) Address:# 202 715 ROYAL AV, Uptown, New Westminster

April 09 V942105 $214,900 $0 0%
June 11 V942105 removed
August 31 V968707 $178,900 $-36,000 -17%
September 29 V968707 $171,900 $-43,000 -20%
November 06 V968707 $159,000 $-55,900 -26%

Assessment: $203,100

1 sale here last year for 27% ABOVE assessment and this unit is 22% BELOW assessment!  This is a foreclosure sale and there is a special assessment but imagine being the sucker who bought a similar unit in this building a year ago for $100K more than this one…

Foreclosure. Bright, spacious, renovated 2 bedroom 910 sf unit facing south. New kitchen, bathroom, flooring, lighting, and paint throughout. Large covered balcony. Strata fee includes heat and hot water. Complex has newer roof, boiler and hot water tanks. Currently upgrading elevator and parkade. Seller to pay for assessment. Located within walking distance of skytrain, NW Quay, and new downtown shopping area. 24 HOURS NOTICE. AS IS WHERE IS. SUBJECT TO COURT APPROVAL. BUYER/BUYERS AGENT TO VERIFY ALL INFORMATION IF IMPORTANT. ALL MEASUREMENTS APPROXIMATE. Assessed for $203,100.


#17 ) Address:6430 272ND ST, County Line Glen Valley, Langley

May 25 F1213583 $3,380,000 $0 0%
July 28 F1213583 $2,950,000 $-430,000 -13%
October 31 F1213583 removed
November 12 F1227348 $2,499,000 $-881,000 -26%

Assessment: Farm Land

“LANGLEY” This is an absolutely gorgeous 77 acres for your country estate or a great property to own and farm. Features include: One newer 6 year old 1300 sq. ft. rancher with large living room, dining room, kitchen with island, 2 bathrooms2 bedrooms lots of windows and a full wraparound sundeck and one older 1600 sq. ft. 3 bedroom rancher. One to live in and one to rent out, approximately 35 acres suitable for farming, approximately 40 acres of forest, trails, etc. offering great privacy, large workshop / garage and a 6 bay storage building and other outbuildings. All this with a view of the North shore mountains and Mount Baker, only minutes from the 264th St. freeway exit. Must be seen. Bring us your offers.


#16 ) Address:410 EASTCOT RD, British Properties, West Vancouver

September 16 V971725 $1,629,000 $0 0%
September 25 V971725 $1,489,000 $-140,000 -9%
October 12 V971725 $1,380,000 $-249,000 -15%
November 07 V971725 $1,199,000 $-430,000 -26%

Assessment: $1,370,600

British Properties coming down $430K and 26% in under 2 months.  Shaughnessy and the British Properties are the top two areas in million dollar drops in homes prices with a dozen between them

A stunning estate property on a prestigious street in the sought after lower British Properties. This private serene .56 of an acre is a special piece of property, south facing with a view of the creek and forest on the property yet mins from highway and Lions Gate Bridge. Build your dream home (build up to approx 7,000 sf) or renovate existing home, Environmental proposal available to show options for new build in relation to creek.


#15 ) Address:# 207 7554 BRISKHAM ST, Mission BC, Mission

November 22 F1128164 $183,900 $0 0%
May 12 F1128164 $173,900 $-10,000 -5%
June 28 F1128164 $159,900 $-24,000 -13%
September 05 F1128164 $149,900 $-34,000 -18%
October 23 F1128164 $139,900 $-44,000 -24%
November 06 F1128164 $134,900 $-49,000 -27%
Open House: Nov 11

Assessment: $143,200

5 sales here last year averaging 4% ABOVE assessment and this unit is currently listed 6% BELOW assessment.  More estate sales and with demographics being the way they are I would expect this trend to continue for say the next 20 years…

Estate Sale. Currently the lowest priced 2 bed. 2 bath condo in Mission. Quiet side of Briskham Manor 1050 sq.ft. just painted and carpets cleaned. Vacant for immediate possession (if desired) This is the one!


#14 ) Address:# 636 4591 BLACKCOMB WY, Whistler, Whistler Pemberton

May 14 V950139 $218,000 $0 0%
July 18 V950139 $207,000 $-11,000 -5%
August 18 V950139 $208,900 $-9,100 -4%
August 21 V950139 $198,900 $-19,100 -9%
September 22 V950139 $194,900 $-23,100 -11%
November 05 V950139 removed
November 12 V980028 $159,900 $-58,100 -27%

Assessment: $189,500

10 sales here last year for an average of 6% ABOVE assessment and this unit is now listed 16% BELOW assessment.  #14 and #8 are likely owned by the same “investor” given the timing of the drops.  Price drops totalling $120K and almost 30% from their initial asking prices

Enjoy ownership in the finest 5-star hotel resort, facing courtyard on 6th floor of the main building at the Four Seasons Resort in Whistler. This superior king suite sleeps two; has full entertainment features; gas fireplace; high quality finishes and furnishings. Lovely sunsets from your own balcony. Minutes from everything Whistler and steps to Blackcomb Mtn. An easy walk or take the shuttle bus. Luxurious amenities incl. a world class spa and fitness centre, outdoor heated pool, hot tubs, 24-hour front desk/concierge, room service, ski concierge and more. Enjoy world-renowned, Four Seasons Resort on your luxury vacation and generate revenue when you are away.


#13 ) Address:# 704 32440 SIMON AV, Abbotsford West, Abbotsford

July 05 F1217261 $299,900 $0 0%
July 24 F1217261 $285,900 $-14,000 -5%
August 16 F1217261 $275,900 $-24,000 -8%
August 30 F1217261 $265,000 $-34,900 -12%
September 21 F1217261 $259,000 $-40,900 -14%
October 03 F1217261 removed
October 04 F1224540 $259,000 $-40,900 -14%
October 16 F1224540 $239,900 $-60,000 -20%
November 06 F1224540 $219,900 $-80,000 -27%

Assessment: $205,700

2 sales here last year for an average of 1% ABOVE assessment and this unit is currently listed at 7 % ABOVE assessment after 27% in drops…  Just wow, an apartment in Abbotsford listed over 40% ABOVE assessment when apartments in Abbotsford are more frequently going for 40% BELOW assessment…

Well built ‘Trethewey Towers’, Mtn Baker view! This bright 2 bedroom, 2 bathroom condo is virtually the best corner/view unit in building. Resort type highrise amenities include indoor pool, jacuzzi, exercise room, sauna, bike room & incredible workshop. Walk to everything including shopping, restaurants, library & Art Gallery. Quick possession. This is the perfect package!


#12 ) Address:2055 ACADIA RD, University, Vancouver West

June 11 V955804 $5,888,000 $0 0%
August 31 V955804 removed
October 18 V977077 $4,850,000 $-1,038,000 -18%
Open House: Oct 21
Open House: Oct 20
Open House: Oct 27
Open House: Oct 28
Open House: Nov 03
Open House: Nov 04
November 07 V977077 $4,300,000 $-1,588,000 -27%

Assessment: $4,376,900

$1.6 million in price drops for this now $4.3 million home they are marketing as a building lot…

Rarely available (112.7′ width x 165 depth) total 18,596sft large quiet flat corner lot in UBC prestigious neighborhood. It’s a beautiful place to live in or to build your dream home.


#11 ) Address:LOT 16 FLAGSHIP RD, Pender Harbour, Sunshine Coast

July 28 V902433 $1,100,000 $0 0%
October 04 V902433 $999,000 $-101,000 -9%
July 04 V902433 $988,888 $-111,112 -10%
July 21 V902433 $979,799 $-120,201 -11%
August 02 V902433 $899,000 $-201,000 -18%
October 31 V902433 removed
November 07 V979322 $799,900 $-300,100 -27%

Assessment: $1,241,000

Got to love the $988,888 price back in July.  I hear there are lots of asians looking to buy in Pender Harbour.  This lot is now almost 35% BELOW assessment

Pender Harbour Landing is a small high-end waterfront and view community. Boasting over 370 ft of frontage and 2.5 acreas, this property is the largest in the community. Mature Arbutus, Cedar, Pine and Fir trees on this private property. There is a prime building site 2/3 of the way down that would suit a gorgeous home on the Point protecting your privacy from the other homes in the community. The oceanfront is accessible from the property. Compare this property to any other waterfront and see what great value you have here as the Tax Assessment is valued at $1,241,000!!! Call us for a full information package and start building your dream home in a prestigious community of Pender Harbour Landing.


#10 ) Address:9571 NO 4 RD, Saunders, Richmond

August 04 V959259 $591,600 $0 0%
August 08 V959259 $558,000 $-33,600 -6%
September 09 V959259 $519,888 $-71,712 -12%
September 22 V959259 $498,800 $-92,800 -16%
October 04 V959259 $488,000 $-103,600 -18%
October 23 V959259 $448,000 $-143,600 -24%
November 10 V959259 $428,000 $-163,600 -28%

Assessment: $486,300

“LIVE in it, RENT it out, HOLD it for future development !!”  Wow, this is incredibly insightful!!!  So let me get this straight, if I buy this place I can choose between living there, renting it out or holding on to it for the future?  So that makes it like every other property in the universe then, right?

LIVE in it, RENT it out, HOLD it for future development !! This half duplex has huge potential to be part of a multiple family land assembly, but is priced affordably. 3 BR + 1.5 bathroom and substantially renovated. Single Garage. Large Western exposed lot, near to schools, parks, and transportation routes. Interior, carpets and paint, HW tank, and lighting updated. Roof done 2002. Please allow notice to show. All measurements approximate and to be confirmed by Buyer. See MLS#V956594


#9) Address:212 GIFFORD ST, Queensborough, New Westminster

January 20 V926966 $1,300,000 $0 0%
April 05 V926966 $1,150,000 $-150,000 -12%
August 15 V926966 removed
August 26 V968185 $968,000 $-332,000 -26%
November 10 V968185 $939,000 $-361,000 -28%

Assessment: $746,000

$1.3 million in Queensborough?  I’ll give you $150K for land value and $125/sqft for a 4 year old home that is reasonably well done so how about $575K?  Really, how could this be more than that?  $1.3 million?!?

Another fine new luxury home! Built in 2008 over 6000 SF lot boasts with 3400 SF house, total 6 bedrooms, 5 bathrooms. Still within 2-5-10 new home warranty. You can count on granite counter top, hardwood floors, jet tubs, intimate showering stall, oriental kitchen, wired surround audio system and a 2 bedroom legal suite. Great location! Guaranteed you will love this home.


#8 ) Address:# 364 4591 BLACKCOMB WY, Whistler, Whistler Pemberton

May 14 V950021 $225,000 $0 0%
July 18 V950021 $217,000 $-8,000 -4%
August 18 V950021 $208,900 $-16,100 -7%
September 22 V950021 $203,900 $-21,100 -9%
November 05 V950021 removed
November 11 V979989 $161,900 $-63,100 -28%

Assessment: $194,500

10 sales here last year for an average of 6% ABOVE assessment and this unit is now listed 16% BELOW assessment.  #14 and #8 are likely owned by the same “investor” given the timing of the drops.  Price drops totalling $120K and almost 30% from their initial asking prices

Enjoy ownership in the finest 5-Star Four Seasons Resort in Whistler. Faces west on the 3rd floor of West building. Deluxe suite with queen sofa bed, sleeps 4; full entertainment features; in-suite gas fireplace; quality finishes & furnishings. Lovely sunsets from your own balcony. Minutes from everything Whistler and Blackcomb Mountain; World Class Spa, outdoor heated pool and hot tubs, 24-hour front desk/concierge, room service, Ski Concierge. Easy walk to take the shuttle bus. A world-renown resort for luxury vacations to generate revenue when you’re away.


#7 ) Address:# 306 3128 FLINT ST, Glenwood, Port Coquitlam

March 09 V929343 $259,900 $0 0%
May 23 V929343 $249,900 $-10,000 -4%
Open House: May 26
June 01 V929343 removed
June 04 V954239 $249,900 $-10,000 -4%
September 18 V954239 removed
September 20 V972318 $214,900 $-45,000 -17%
September 29 V972318 $204,900 $-55,000 -21%
November 06 V972318 $185,900 $-74,000 -28%

Assessment: $232,100

1 sale here last year for 6% ABOVE assessment and this unit is currently listed at 20% BELOW assessment.  Another Court Approval sale.  Between March and September 18 it dropped $10K and since then it has dropped another $64K.

Foreclosure. Great 1,027 sq ft 2 bdrm, 2 bath unit with private rooftop deck. Features quality laminate flooring, tile, contemporary colors and gas fireplace. Located within walking distance of shopping, transit schools and parks. 24 hours notice for viewing. AS IS WHERE IS. SUBJECT TO COURT APPROVAL, BUYER/BUYERS AGENT TO VERIFY ALL INFORMATION IF IMPORTANT. ALL MEASUREMENTS APPROXIMATE. Assessed for $232,100.


#6 ) Address:# 105 9632 120A ST, Cedar Hills, North Surrey

March 09 F1203816 $189,900 $0 0%
May 10 F1203816 removed
May 11 F1212212 $179,900 $-10,000 -5%
June 06 F1212212 $169,900 $-20,000 -11%
June 27 F1212212 $159,900 $-30,000 -16%
August 09 F1212212 $149,900 $-40,000 -21%
August 23 F1212212 removed
October 12 F1225175 $144,900 $-45,000 -24%
October 26 F1225175 $139,900 $-50,000 -26%
November 10 F1225175 $134,900 $-55,000 -29%

Assessment: $203,900

4 sales here last year averaging 10% ABOVE assessment and this unit is currently 34% BELOW assessment!  Again, imagine being one of the people who bought here last year.  Can’t be a good feeling.

2nd Largest unit in the complex, 2 bedroom ground floor unit which is 1354 sqft with a large patio off the living room. Great location close to Scott Rd and 96th. No rental restrictions and pet friendly building. Close to shopping, transportation and parks.


#5 ) Address:# 212 14200 RIVERPORT WY, East Richmond, Richmond

March 09 V934864 $498,500 $0 0%
April 12 V934864 removed
April 14 V943239 $459,900 $-38,600 -8%
April 28 V943239 $449,900 $-48,600 -10%
May 11 V943239 $435,000 $-63,500 -13%
June 09 V943239 $424,500 $-74,000 -15%
June 19 V943239 $415,000 $-83,500 -17%
July 10 V943239 $399,900 $-98,600 -20%
July 28 V943239 $389,900 $-108,600 -22%
September 05 V943239 $372,500 $-126,000 -25%
October 11 V943239 $362,900 $-135,600 -27%
November 09 V943239 $352,500 $-146,000 -29%

Assessment: $432,000

7 sales here last year averaging 6% BELOW assessment and this unit is currently listed at 18% BELOW assessment.  LOVE ALL CAPS

SPECTACULAR RIVER VIEWS FROM YOUR SOUTH FACING BALCONY. THIS 2 BED/ 2 BATH WATERFRONT CONDO IS LARGE, OVER 1100 SQ. FT. WITH A BONUS DEN, LOCKER, IN SUITE LAUNDRY AND STORAGE ROOM.


#4 ) Address:1515 OTTAWA AV, Ambleside, West Vancouver

March 14 V936810 $4,988,000 $0 0%
Open House: May 20
Open House: May 27
Open House: Jun 03
June 01 V936810 removed
June 30 V959481 $4,380,000 $-608,000 -12%
Open House: Jul 22
Open House: Sep 16
September 18 V959481 $3,900,000 $-1,088,000 -22%
November 06 V959481 $3,488,000 $-1,500,000 -30%

Assessment: Building Unfinished at time of assessment

This new home is very nice but $5 million initial asking price?  It has dropped $1.5 million and I bet there is still a lot of profit in there for the builder if they get this price.  Do people realize what $5 million gets you around the world?

Enjoy spectacular ocean & partial city view from this attractive NEW mansion w/its grand facade featuring columns, covered porches, extensive decks & pretty Juliet balconies. Well-sited on large level fully hedged 14,702 SF lot in convenient Ambleside in close proximity to schools, transportation, beaches & shops, this 7 BDM, 8 BTH residence is luxuriously finished w/marble & engineered H/W floors, granite counters, crystal chandeliers, high-end fittings, radiant floor heating, air-conditioning & elevator to service all 3 levels. The main features large deep foyer w/X-hall grand living & dining rooms, family room off kitchen w/antique white cabinets & Miele appliances including Miele coffee machine, wok kitchen, guest bedroom & office which opens through french doors to the private backyard. Up are 4 ensuite bedrooms including the huge master. The lower level has a games room, home theatre w/wet bar & well-finished 3 bedroom legal suite. The private grounds are beautifully L/S w/level lush lawn. Priced to sell


#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
Open House: Sep 30
Open House: Oct 13
October 20 V970890 $847,500 $-317,500 -27%
November 05 V970890 removed
November 09 V979559 $795,000 $-370,000 -32%

Assessment: $863,500

The original owners probably paid around $5K for this home 51 years ago so come with your lowball offers.  Maybe if they didn’t start with 30% above assessment they would have sold it by now. 

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

Prime location. Close to Metrotown, skytrain, schools & 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 floor, fireplace & overlooks the green space of Kisby Park. Partly finished basement with recroom & large area for potential finishings. A wonderful opportunity to renovated or add on to this solid home. This 50×150 lot with lane is great for building up to 4500 Sf of living space.


#2 ) Address:4255 HIGHBURY ST, Dunbar, Vancouver West

March 09 V931539 $3,888,888 $0 0%
March 23 V931539 removed
March 26 V939234 $3,388,000 $-500,888 -13%
May 16 V939234 $2,988,000 $-900,888 -23%
September 07 V939234 removed
September 09 V970357 $2,888,000 $-1,000,888 -26%
Open House: Sep 15
Open House: Nov 04
November 06 V970357 removed
November 09 V979536 $2,580,000 $-1,308,888 -34%

Assessment: $2,437,000

$1.3 million in price drops in Dunbar and still above assessment.  Also interesting to note that they started with 5 8’s in the price, dropped to 2 then back up to 3 and now settled for just a single 8.  Now, correct me if I am wrong, but isn’t the “Denman neighborhood” downtown?  

Sold for $2.338M in December, 2012

Lovely West side family home on a quiet street in sought after Denman neighborhood. Close to Crofton & St George’s private schools, Point Grey high school, & UBC. Walking distance to elementary school, shopping, transit, parks & easy access to public & private golf courses, recreation, equestrian facilities, Pacific Spirit Park. Home is situated on a large corner lot with lane access which zoning allows for a coach house. Great floor plan with functional & spacious living-dining-eating-family room, 5 good sized bedrooms, 4 washrooms including massive ensuite washroom, plus bonus rooftop deck. Call now for your private showing.


#1 ) Address:5347 KEW CLIFF RD, Caulfeild, West Vancouver

March 09 V906191 $12,980,000 $0 0%
April 11 V906191 $9,980,000 $-3,000,000 -23%
June 14 V906191 removed
June 23 V958265 $8,998,000 $-3,982,000 -31%
November 10 V958265 $7,898,000 $-5,082,000 -39%

Assessment: $8,286,000

We’ve seen this one on various “If I lost a million dollars” and “weekly drop” lists over the last 7 months but finally it has 1) dropped over $5 million  2) made first spot on the list and 3) listed below assessment!    Apparently this one actually started much higher in price back before March of this year.  

Found this cached link from 2008:

http://tinyurl.com/b556t6f

Turns out this home was purchased in 2008 for $8.1 million!  So, if it sells for asking then they are looking at a loss of $202K + $392K in transfer fees on the purchase and commission on the sale for an overall loss of $594K in a little over 4 years not to mention that this home has seemingly been empty for about 2 years now.

A magnificent luxury Waterfront home situated on one of West Vancouver’s most sought after streets. Offering over 5,300 sq. ft. of outstanding luxury & detail throughout on all 3 levels. Large entertainment size rooms including a feature curved staircase with wrought iron railings, all French doors leading onto spacious walk-out patios with wonderful outdoor swimming pool & jacuzzi. This beautifully appointed luxury home features a World Class International kitchen, separate den or office, theatre room, wine cellar & a simply gorgeous Master suite. Fully gated & landscaped with breathtaking views!

 

White Rock Spotlight – November 11, 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.

Some Highlights

  • It takes a 21% drop to make this top 10.  The previous 4 months were 19%, 20%, 20% and 17%
  • 6 of 9 listings are now below assessment

#10 ) Address:# 402 15164 PROSPECT AV, White Rock, White Rock

March 09 F1124483 $1,129,000 $0 0%
March 31 F1124483 removed
August 21 F1221152 $927,900 $-201,100 -18%
September 21 F1221152 $911,900 $-217,100 -19%
October 24 F1221152 $889,900 $-239,100 -21%

Assessment: $1,052,000

1 sale here last year for 9% ABOVE assessment and this unit is currently listed at 15% BELOW assessment

Waterford Penthouse! An opportunity to enjoy south facing ocean view from this one of a kind 2000+ sqft, 3 bedroom/3 bath + den unit in concrete & steel framed condo. Bright & spacious open design, featuring hardwood floors, kitchen customstained cabinets, center work island, stainless steel appliances, granite counters, 2 fireplaces, 3 balconies affords views of Mt.Baker and ocean. Economical heating + A/C with individual heat pump, 2 parking + locker. Conveniently located, close to shops and transit. A perfect place to call home.


#9 ) Address:# 204 1320 FIR ST, White Rock, White Rock

December 20 F1129368 $169,900 $0 0%
April 20 F1129368 $164,900 $-5,000 -3%
June 08 F1129368 $157,900 $-12,000 -7%
September 11 F1129368 removed
September 22 F1223733 $139,900 $-30,000 -18%
November 10 F1223733 $129,900 $-40,000 -24%

Assessment: $178,100

2 sales here last year for an average of 3% BELOW assessment and this unit is now listed at 24% BELOW assessment.  Imagine being the person who paid $186K for a similar unit last May!

The best deal in White Rock! Well maintained 2 bdrm on quiet side of complex. Ready to move in now for adult buyer (50+) Shows well and has updated appliances. Walk to shops, bus, etc. Balcony is enclosed for added space. Priced well belowassessed value. Hurry!!! No rental or pets allowed.


#8 ) 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.


#7 ) Address:2163 179TH ST, Hazelmere, White Rock

May 15 F1212657 $2,400,000 $0 0%
September 29 F1212657 removed
October 04 F1224470 $1,800,000 $-600,000 -25%

Assessment: $1,077,000

Prestigious Redwood Park Estates. Quiet one acre property with Southwest exposure & greenbelt. Master gardens, Koi Pond ,English Greenhouse. Interior renovation completed 2012 all European craftsmanship top to bottom.Spa master en suiteGourmet kitchen. Wonderful home for entertaining guests indoors and out* PDF download Brochure available explaining finishings &floor plan, over 100 pictures in and out, capturing world class gardens and inviting interior. Please preview .


#6 ) Address:# 206 15369 THRIFT AV, White Rock, White Rock

June 23 F1216411 $119,000 $0 0%
July 27 F1216411 $109,000 $-10,000 -8%
August 23 F1216411 $99,999 $-19,001 -16%
September 19 F1216411 removed
September 27 F1224127 $89,000 $-30,000 -25%

Assessment: $140,800

No units sold here last year.  This unit is currently 37% BELOW assessment

Wow!! Why rent when you can own this freehold unit in the heart of White Rock, just steps to new town developments, shops, restaurants, library, hospital and beach! The unit has been totally updated and looks/feels like new. Wellmaintained complex with new roof, pet friendly and free laundry! Low maintenance fee includes heat and hot water. Live near the beach in this prestigious location for way less than the accesses value!


#5 ) 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%
October 27 F1212478 $199,000 $-70,000 -26%

Assessment: $260,000

No units sold in this property last year.  Now listed 23% BELOW assessment

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.


#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%
October 27 F1124941 $869,000 $-319,000 -27%

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:# 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%
October 05 F1208996 removed
October 10 F1225069 $215,000 $-64,000 -23%
October 27 F1225069 $199,000 $-80,000 -29%

Assessment: $268,000

2 units sold in this property last year for an average of 3% BELOW assessment and this unit is currently listed 25% BELOW assessment.

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 LR and DR. Building has been rainscreened, seismic upgraded, new windows and paint complete the package. Pets are welcome, no age restrictions, NO rentals. No hills here! Within walking distance to shopping, transporation and nearby Peace Arch Hospital, White Rock Elementary & Earl Marriott.


#2 ) Address:2385 152A ST, King George Corridor, White Rock

March 09 F1123410 $699,000 $0 0%
March 31 F1123410 removed
April 21 F1210146 $898,888 $0 0%
June 08 F1210146 $599,880 $-299,008 -33%
August 09 F1210146 removed
October 04 F1224428 $589,000 $-309,888 -34%

Assessment: $465,100

Court order sale and subject to the court approval. Big lot and 2 story house about 36 yrs old. Schedule ” C ” must be attached withthe offer. Cheek with the city for change of higher zoning.


#1 ) Address:# 306 1371 FOSTER ST, White Rock, White Rock

October 18 F1125845 $225,000 $0 0%
November 27 F1125845 $219,785 $-5,215 -2%
September 01 F1125845 removed
October 04 F1224577 $119,900 $-105,100 -47%

Assessment: $228,200

1 sale here last year for 5% BELOW assessment (and this happened just back in October) and this unit is currently listed at 47% BELOW assessment.  I’m guessing the buyer in October didn’t take a look at the strata minutes…

Needs A Little Work, But Look At This Price, (note there is an upcoming assessment of approximately $63,000). You absolutely have to see this 2 bed, 2 bath top floor unit in the heart of White Rock. This unit boasts a large master bedroomwalk thru closet, lots of storage and an Ocean View. Great extra’s such as in suite laundry, updated kitchen, fresh paint, attractive crown mouldings and large balcony with ocean views. Walking distance to shopping dining and the beach, no rentals, 19 plus and pets allowed with restrictions.