Vancouver Price Drop

Documenting Vancouver real estate price movements

The Weekly Drop Under a Million – December 17, 2012

Here are the 10 properties under a $1 million that dropped their price the previous week AND have dropped the largest percentage overall from their original asking price.  I have been considering a bunch of ways to break down this weekly drop into something more useful / entertaining for more people and considered things like breaking it down regionally and/or by single family home / attached.  I pulled up different variations on this and it ended up that simply breaking listings into above a million or below a million does a lot of that filtering on its own.  I’m not 100% sold on this approach but for now it seems like a reasonable compromise so I’ll be watching the comments to see your thoughts on this.  Tomorrow I will post the $1 million and up list.  With that being said, here is the top 10 under a million:


#10 ) Address:# 102 8460 GRANVILLE AV, Brighouse South, Richmond

V982452_1

October 06, 2006 V609652 $315,000 $0 0%
October 29, 2006 V609652 $325,000 $0 0%
February 16, 2007 V609652 removed after 133 days
February 21, 2007 V631503 $325,000 $0 0%
March 13, 2007 V631503 $315,000 $-10,000 -3%
March 19, 2007 V631503 removed after 26 days
April 25, 2009 V763169 $328,000 $0 0%
May 21, 2009 V763169 removed after 26 days
May 20, 2011 V889386 $466,000 $0 0%
June 29, 2011 V889386 $446,000 $-20,000 -4%
September 01, 2011 V889386 removed after 104 days
August 24, 2012 V967816 $368,000 $-98,000 -21%
September 21, 2012 V967816 $355,000 $-111,000 -24%
October 26, 2012 V967816 $349,000 $-117,000 -25%
November 17, 2012 V967816 $335,000 $-131,000 -28%
November 26, 2012 V967816 removed after 94 days
December 13, 2012 V982452 $319,800 $-146,200 -31%

Assessment: $362,000

6 sales here last year for an average of 5% ABOVE assessment and this unit is now priced at 12% BELOW assessment.  Another apartment back at 2006 price levels and this one is in Richmond, not in the Fraser Valley

LOWEST PRICED 900FT2 2 Bdrm apt in Richmond CITY CTR. Priced $42’200 BELOW ASSESSMENT to sell quickly. Rock solid CONCRETE BOSA building. Beautiful kitchen with granite countertops, upgraded stainless steel appliances, spa-like bathrooms, , Open concept living and dining with gas fireplace & access to x-large private patio (great for pets, entertaining etc), in-suite laundry plus 2 PARKING STALLS & 1 locker. Excellent location in City Center close to Central library, Richmond Center Mall, Skytrain, buses, banks, restaurants, shops, Garden City Park, Schools & Kwantlen College, and YVR Airport. DON’T MISS THIS ONE!! WON’T LAST!!! Open House Dec 16th 2:00am-4:00pm


#9 ) Address:14318 36A AV, Elgin Chantrell, White Rock

F1219441_1

June 26, 2008 F2818934 $1,175,000 $0 0%
September 06, 2008 F2818934 $1,025,000 $-150,000 -13%
September 17, 2008 F2818934 removed after 83 days
September 23, 2008 F2827581 $1,025,000 $-150,000 -13%
December 03, 2008 F2827581 $769,000 $-406,000 -35%
January 31, 2009 F2827581 removed after 130 days
July 07, 2011 F1117127 $938,000 $-237,000 -20%
September 15, 2011 F1117127 removed after 70 days
April 13, 2012 F1209150 $905,000 $-270,000 -23%
July 25, 2012 F1209150 removed after 103 days
July 28, 2012 F1219441 $875,000 $-300,000 -26%
August 10, 2012 F1219441 $830,000 $-345,000 -29%
December 13, 2012 F1219441 $798,000 $-377,000 -32%

Assessment: $894,000

Dropped $400K and 35% from the summer of 2008 to December of 2008 where I assume it sold.  4 years later and it is back to right around the same price point of the earlier lows.  So here we have a single family home in White Rock listing for over 30% off the original 2008 asking price…

Gorgeous 2,618 sq’ family home in convenient Southport at Elgin Chantrell. Show home condition. 5 years young but hardly lived in, shows better than new. Great room concept. open plan with 3 spacious bedrooms with open den up; eating area in gourmet island-kitchen, vaulted ceiling in great room, formal dining room & den on main. Featuring 9′ ceiling, hardwood & tiled floor on main, central air-con, hardy plank exterior, in-lawn sprinklers, built-in vacuum, security systems & much more.


#8 ) Address:# 2301 10082 148TH ST, Guildford, North Surrey

F1228747_1

October 22, 2008 F2830100 $759,888 $0 0%
March 11, 2009 F2830100 removed after 140 days
June 06, 2009 F2912275 $689,000 $-70,888 -9%
August 01, 2009 F2912275 $635,000 $-124,888 -16%
January 03, 2010 F2912275 removed after 211 days
January 29, 2011 F1102282 $555,888 $-204,000 -27%
April 06, 2011 F1102282 removed after 67 days
April 15, 2011 F1109770 $527,700 $-232,188 -31%
September 07, 2011 F1109770 $499,000 $-260,888 -34%
November 06, 2011 F1109770 removed after 205 days
February 15, 2012 F1203783 $488,800 $-271,088 -36%
September 01, 2012 F1203783 removed after 199 days
December 15, 2012 F1228747 $485,888 $-274,000 -36%

Assessment: $400,000

10 sales here last year for an average of 1% BELOW assessment and this unit is listed at over 20% ABOVE assessment.  I have no idea why they think their apartment is worth $485,888 when a year ago, in a much, much stronger market, similar units were selling for assessment in this building.  Regardless, another unit 36% off 2008 listing prices and this one also happens to have been listed for about 800 days in the past 4 years!

THE STANLEY! Amazing Penthouse corner unit with great mountain and city views! This 1730 sqft of luxurious living space with lots of updates like newer granite counters, newer appliances in the spacious kitchen as well as paint. The whole unit has been updated with laminate flooring, crown moldings and baseboards. There are 2 spacious decks that offer dramatic 270 degree mountain and city views! In addition, this unit comes with 2 side by side secure underground parking stalls. This full concrete bldg is centrally located and offers amazing resort like amenities: 2 outdoor swimming pools, a hottub & sauna, 2 relaxing Clubhouses and even tennis courts!


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

V980343_1

March 09, 2012 V929382 $399,000 $0 0%
July 13, 2012 V929382 removed after 126 days
July 15, 2012 V962228 $329,900 $-69,100 -17%
August 11, 2012 V962228 $317,900 $-81,100 -20%
September 12, 2012 V962228 $305,000 $-94,000 -24%
October 13, 2012 V962228 removed after 90 days
November 16, 2012 V980343 $269,990 $-129,010 -32%
December 14, 2012 V980343 $250,000 $-149,000 -37%

Assessment: $340,700

Close to 30% off assessment

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.


#6 ) Address:# 6 32752 4TH AV, Mission BC, Mission

F1219135_1

November 21, 2006 F2625970 $239,000 $0 0%
December 18, 2006 F2625970 removed after 27 days
December 22, 2006 F2627281 $239,000 $0 0%
May 10, 2007 F2627281 $229,000 $-10,000 -4%
July 06, 2007 F2627281 $209,000 $-30,000 -13%
September 13, 2007 F2627281 removed after 265 days
May 25, 2008 F2815575 $239,900 $0 0%
June 01, 2009 F2815575 removed after 372 days
September 10, 2011 F1122706 $204,500 $-35,400 -15%
November 17, 2011 F1122706 $199,500 $-40,400 -17%
July 24, 2012 F1122706 removed after 318 days
July 25, 2012 F1219135 $189,000 $-50,900 -21%
August 15, 2012 F1219135 $179,000 $-60,900 -25%
August 30, 2012 F1219135 $174,900 $-65,000 -27%
September 20, 2012 F1219135 $169,000 $-70,900 -30%
October 25, 2012 F1219135 $165,000 $-74,900 -31%
November 20, 2012 F1219135 $159,000 $-80,900 -34%
December 13, 2012 F1219135 $149,000 $-90,900 -38%

Assessment: $175,000

No sales here last year, this unit is listed for 15% BELOW assessment after 7 price drops this year.  That puts it about 40% below 2006 listing prices and when you factor in inflation this is down more than 50%.  Also a little concerning that it has been listed for around 1100 days since late 2006

Great central location, cul-de-sac, greenbelt, easy walk to downtown and transit. Age 45+, pets allowed with restrictions. 3 bedrooms, 2 baths, nice open main floor, single garage. Some updated flooring, nicely maintained unit and complex.


#5 ) Address:# 6 14550 MORRIS VALLEY RD, Lake Erock, Mission

No Picture

April 08, 2010 F1009146 $128,000 $0 0%
August 10, 2010 F1009146 $115,000 $-13,000 -10%
May 11, 2011 F1009146 $99,000 $-29,000 -23%
October 14, 2011 F1009146 removed after 554 days
October 19, 2011 F1125879 $99,000 $-29,000 -23%
May 01, 2012 F1125879 removed after 195 days
May 31, 2012 F1214123 $89,000 $-39,000 -30%
December 15, 2012 F1214123 $70,000 $-58,000 -45%

Assessment: $98,800

2 sales here last year averaging 5% ABOVE assessment and this unit is now listed at 30% BELOW assessment.  “A piece of paradise in a beautiful serene setting for only $89,000! Hurry!!”  uhh, hurry up and update your description!  The price is down another 20%…  One of 2 units in the top 10 from this complex and looking at price change timing it is surely owned by the same “investor”

WOW! RIVER REACH…priced below Government Assessment South facing, ready to build your retirement home or family recreation use. Located next to beautiful Sandpiper Golf Course, by Harrison River, 20 min to Hemlock Valley Ski Resort, 20 min to Harrison Hot Springs, 1.5 hrs from downtown Vancouver. Lots of new homes already built in the Estate. A piece of paradise in a beautiful serene setting for only $89,000! Hurry!!


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

F1227769_1

June 21, 2008 F2818600 $1,590,000 $0 0%
December 20, 2008 F2818600 removed after 182 days
February 27, 2009 F2903896 $1,275,000 $-315,000 -20%
August 18, 2009 F2903896 $1,175,000 $-415,000 -26%
January 03, 2010 F2903896 removed after 310 days
January 08, 2010 F1000373 $1,175,000 $-415,000 -26%
May 30, 2010 F1000373 removed after 142 days
April 14, 2011 F1109675 $1,249,000 $-341,000 -21%
June 03, 2011 F1109675 $1,179,000 $-411,000 -26%
September 29, 2011 F1109675 removed after 168 days
October 01, 2011 F1124483 $1,129,000 $-461,000 -29%
March 31, 2012 F1124483 removed after 182 days
August 21, 2012 F1221152 $927,900 $-662,100 -42%
September 21, 2012 F1221152 $911,900 $-678,100 -43%
October 24, 2012 F1221152 $889,900 $-700,100 -44%
November 15, 2012 F1221152 removed after 86 days
November 22, 2012 F1227769 $879,900 $-710,100 -45%
December 13, 2012 F1227769 $867,900 $-722,100 -45%

Assessment: $1,052,000

1 sale here last year for 9% ABOVE assessment and this unit is now listed 18% BELOW assessment.  Another White Rock property listing for almost half of what it listed for 4 years ago

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 custom stained 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.


#3 ) Address:# 10 14550 MORRIS VALLEY RD, Lake Erock, Mission

No Picture

April 09, 2010 F1009225 $134,000 $0 0%
August 10, 2010 F1009225 $119,000 $-15,000 -11%
May 10, 2011 F1009225 $99,000 $-35,000 -26%
October 14, 2011 F1009225 removed after 553 days
October 19, 2011 F1125899 $99,900 $-34,100 -25%
May 01, 2012 F1125899 removed after 195 days
May 31, 2012 F1214165 $89,900 $-44,100 -33%
December 15, 2012 F1214165 $72,000 $-62,000 -46%

Assessment: $99,800

2 sales here last year averaging 5% ABOVE assessment and this unit is now listed at 30% BELOW assessment.  It’s a copy of #5

WOW! RIVER REACH……priced below Government Assessment South facing, ready to build your retirement home or family recreation use. Located next to beautiful Sandpiper Golf Course, by Harrison River, 20 min to Hemlock Valley Ski Resort, 20 min to Harrison Hot Springs, 1.5 hrs from downtown Vancouver. Lots of new homes already built in the Estate. A piece of paradise in a beautiful serene setting for only $89,900! Hurry!!


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

V967375_1

March 15, 2008 V694984 $207,900 $0 0%
July 05, 2008 V694984 $199,900 $-8,000 -4%
October 15, 2008 V694984 $189,900 $-18,000 -9%
May 30, 2009 V694984 $174,900 $-33,000 -16%
July 01, 2009 V694984 $159,900 $-48,000 -23%
May 30, 2010 V694984 removed after 806 days
March 17, 2012 V937820 $78,800 $-129,100 -62%
May 14, 2012 V937820 removed after 58 days
August 22, 2012 V967375 $149,900 $-58,000 -28%
November 06, 2012 V967375 $129,900 $-78,000 -38%
November 20, 2012 V967375 $109,000 $-98,900 -48%
December 11, 2012 V967375 $99,900 $-108,000 -52%

Assessment: $130,700

1 sale here last year for 7% ABOVE assessment and this unit is now listed for 24% BELOW assessment.  So this one is interesting… I noted last time it made the weekly drop that perhaps the buyer paid for the special assessment since that would explain why the asking price went from a failed attempt at $79K, all the way up to $150K.  But no, they have added the $75K special assessment needs to be paid by the buyer to the description.   Also, I can’t verify this but it’s been commented that this picture is probably a decade old because the place looks nothing like this now…  This one was down 62% from the peak back in March and I have to think that it will blow past that in the coming months.

2 level apartment with a large roof top deck, 2 bedrooms, 2 bathrooms, insuite laundry, onsite parking. Near shopping, transit & leisure centre. There is an approx $75,000 assessment to be paid by the future Buyer.


#1 ) Address:# 206 1477 FOUNTAIN WY, False Creek, Vancouver West

V982398_1

November 05, 2010 V857394 $574,900 $0 0%
March 28, 2011 V857394 removed after 143 days
April 03, 2011 V879664 $559,000 $-15,900 -3%
August 01, 2011 V879664 removed after 120 days
January 12, 2012 V924617 $568,000 $-6,900 -1%
March 12, 2012 V924617 removed after 60 days
March 28, 2012 V939572 $498,000 $-76,900 -13%
June 30, 2012 V939572 $320,000 $-254,900 -44%
July 27, 2012 V939572 removed after 121 days
December 12, 2012 V982398 $250,000 $-324,900 -57%

Assessment: $463,000

No sales here last year, this unit is now listed at 48% BELOW assessment and 57% below peak!  This one is a lease which expires in 28 years

Attention! Achtung! Calling all buyers! Once in a Blue Moon a deal comes around that you can’t miss out on. Well look no further cause the moon is BLUE. 2Bdrm 2Bath 2Big 2Believe. 1377 SF entertainers delight. So close to Granville Island you can smell the coffee, the food, the fish & more. Huge open concept. Many updates including master bath & walk in closet, engineered floors, crown mldgs & more. City of Vancouver lease to expire in 2040. Pets ok.

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44 responses to “The Weekly Drop Under a Million – December 17, 2012

  1. Confusions December 17, 2012 at 10:20 pm

    #7,6,5,3,2. I would recommend a filter that leaves these out. It’s clear that the days of any old piece of land or construction being saleable are over. There is value in the land but clearing these from the land will probably cost more. Maybe set a minimum of $300 K on the max list price.

  2. overthepoond December 17, 2012 at 10:21 pm

    Thanks again for your work! Kind of depressing to see that Mission townhouse sitting for so long -such an erosion of equity!

    On the subject of the list, I think if we’re going to be going for 10 properties in a list, and having 2/3 a week, then perhaps having condo lists, and SFH lists would be of interest to some of the viewers out there (I know personally I’m not too interested in the strata properties, especially as the big price drops have sepcial assessment issues, age restrictions etc skewing the data a little).

  3. raincoast December 17, 2012 at 11:39 pm

    Wow. I almost feel a bit awful for the folks selling Fountain Way. $250K and it’s not sold yet. Says a lot about staying away from leaseholds, regardless of assessed value. That’s $181.55 per square foot. Ouch. How low can it go?

  4. Diane Irvine December 17, 2012 at 11:49 pm

    I like the idea of a strata/non-strata list. But I think I’d prefer a list that included the core of metro vancouver (Van, Burnaby, Richmond, maybe new west). Places like sunshine coast and mission currently dominate the list because prices ALWAYS drop from the outside, and recreational properties go first.

    • Felix December 18, 2012 at 3:27 am

      I agree, plus another list that leaves condos and townhouses out and just look at houses.

    • Sheesh December 18, 2012 at 11:53 am

      Seconded. I think most people are interested in Metro Vancouver, not the Fraser Valley or Sunshine Coast. It would be nice to leave those to the occasional ‘regional spotlight’. But this site is awesome and I don’t want to scare Observer out of continuing, so Observer, please note that I’m grateful for the data no matter how you choose to present it!

      • AS December 18, 2012 at 12:09 pm

        I definitely agree. I think people come here for Metro Vancouver. That’s what is in the news (“Vancouver is dropping like a stone” – and you provide the evidence for that). I don’t want to offend anyone in the Fraser Valley or Sunshine Coast, but I tend to think of those areas as a different local market altogether.

        I will admit that receiving and relaying news on Whistler as interesting as well though.

  5. Vulture Fun December 18, 2012 at 12:50 am

    Observer, great work as always, but I wonder if you might be too open to suggestions regarding changes to your lists and the website. I’ve noticed that you’ve been very responsive to suggestions, which is great, but I think you should go with your own instincts on how you select properties for the humiliation list. I will say that I love the combo of data, snarky insights, and realturd putdowns. It provides some balance to the BS we’re fed daily by the MSM and professional liars. I find myself checking many times each Monday to see if you have posted yet. More frequent postings is probably too much to ask, but I’m pretty sure it would drive much more traffic to your site. Posting frequently creates serious data addiction in your followers. A final thought: if traffic is building (and it seems to be, judging from the number of comments) you might consider some putting some ads on your site to help with the cost of hosting and, of course, compensate you for the many hours you’ve put into this. I always giggle when I see ads for realtors and real estate related business showing up on sites that are obviously not good for business.

    • Ray December 18, 2012 at 9:33 am

      Use RSS and you never need to check a blog again.

    • an observer December 18, 2012 at 10:32 am

      Well one of the reasons I ask for feedback and am open to it is that I have the same thoughts about ways to make it better. I’ll be posting the > $1 million later today and continue to watch the feedback and make some adjustments for next week.

      Thanks for the thought but the blog costs nothing to run other than time so I’ll never put any ads on the site. The best thing you can do to help is contribute to the discussion!

  6. msros December 18, 2012 at 1:35 am

    I look forward to every monday coz i know u’d be posting something good. & its probono, so how ca i complain. Keep up the good work!

  7. MaxPower December 18, 2012 at 2:52 am

    I second the support for the snarky insights and realturd putdowns. That’s not the reason I came, but it’s the reason I’ve become hooked. Sort ’em any way you like – it’s your blog. I wouldn’t be upset if the vacant land entries disappeared, however. Except maybe that one that’s wet at the bottom and rises steeply up the mountain. Good times.

    Thanks!

  8. MaxPower December 18, 2012 at 2:54 am

    Whoops – forgot to mention that I LOVE the addition of the number of days in the removed line.

  9. RFM December 18, 2012 at 3:09 am

    Excellent work!
    I love this description in #1: “So close to Granville Island you can smell the coffee, the food, the fish & more.” If he’d mentioned rotting cabbage it would be complete. Ha!
    The breakdown between over and under $1 million makes sense. I join with others in feeling that a further breakdown between strata-titled and non-strata-titled, makes sense, at least in the context of a further break down between metro and outlying areas. You might end up with five lists: Metro strata over $1 million; Metro strata under $1 million; Metro non-strata over $1 million; Metro non-strata under $1 million; Outlying of all types.
    Just my thought. I join with others who appreciate all your hard work, comments and reliability. The bottom line is that whatever way you do it, I’ll keep reading with enthusiasm and occasionally adding my own reports.
    Cheers!

  10. Rob December 18, 2012 at 8:02 am

    Nice job on the site. I think you are doing a fine job of documenting the lunacy of home pricing in the lower mainland.
    I have been visiting regularly for the last 4 issues now and am enjoying the site immensely.
    In terms of interface…I had an idea that might be workable and interesting.

    What about setting up the main page as a ‘war-room’ type map of the lower mainland?
    Color code individual areas to match the drop in values. Essentially the main page would be a map showing color coded areas of price drops. Biggest drops, shade the community in red. Increases maybe show as green. I am sure you get the idea.

    I kind of have this view that we will see small areas of red slowly take over the map as time goes on.

    When someone clicks on a color coded area – you display the listings in the area in your typical format. Make sure you include your commentary! That’s a big part of why I keep coming back!

    Anyways…food for thought for you.

  11. Nelson December 18, 2012 at 8:43 am

    I’m curious to see how much this home will be selling for once it’s back on the market…remember it sold for over 1 million over asking.
    625 Southborough Dr., West Vancouver

  12. Ray December 18, 2012 at 9:40 am

    Not that it matters, but I vote for an outer list and an inner list. Collapse of the outer will be apparent, collapse of the inner might come sooner than we expect. Breakdown by housing type after that isn’t as important because the lists are already sorted by percentage decline. We want to see the carnage in the areas regardless of type of home. Two lists seems reasonable. Over $1 million and under $1 million is a nice round number but that number is always a moving target. Plus there is nothing better than getting half way through a list and see a $15 million property going for -60% off. Nice variety.

  13. Real Estate Tsunami December 18, 2012 at 9:52 am

    Observer,
    Get ready for the new year, when the listings will go through the roof and the prices will drop like flies.
    Thanks for your valuable work.

  14. S December 18, 2012 at 10:21 am

    Thanks for the great blog as always. With regard to the lists, I would like to see the price drops broken down by region ( I believe you’ve done that in the past ). Also, SFH vs Condos makes sense.

  15. Roy December 18, 2012 at 10:23 am

    #8: “I have no idea why they think their apartment is worth $485,888”

    Lunatic seller trying to get their crazy eights price, priced according to their fantasy. If one considers that the unit is really only worth mid or low-300’s today, you can see by the track record the owners are potentially sitting on hundreds of thousands of dollars in losses. They know its not worth $485,888. They just can’t write it down any further because they already know they are in epic fail territory.

    Looking at the track record of this property’s history, it is like watching someone stab themselves over and over again.

  16. an observer December 18, 2012 at 10:26 am

    Thanks for the feedback. I think separating attached and detached probably is the way to go but there seems to be a need for separating “central” vancouver from the outlying areas.

    The question then becomes which regions are included in “central”? Obviously Vancouver West and Vancouver East. What about Burnaby, Richmond and New Westminster? North Vancouver and West Vancouver? Coquitlam? Ladner and Tsawwassen? All of the above?

    • RFM December 18, 2012 at 11:12 am

      An Observer:
      I anticipated your question and was thinking about it overnight. Here’s my humble suggestion on how to slice and dice it:
      Metro Central (with breakdowns between strata and non-strata or attached and detached), consisting of Vancouver West, Vancouver East, Burnaby and New Westminster.
      Metro South, consisting of Richmond, Tsawwassen and Ladner.
      Metro North consisting of North Vancouver, West Vancouver, Squamish, Whistler/Pemberton and Sunshine Coast.
      Outlying, consisting of Coquitlam, Maple Ridge, Pitt Meadows, Port Moody, Port Coquitlam, Fraser Valley and Chilliwack.
      Your faithful correspondent.

    • Ray December 18, 2012 at 12:05 pm

      Inner: Van West, Van East, Burnaby, New West, North Van, West Van, Richmond.
      Outer: Everything else

  17. RS December 18, 2012 at 10:38 am

    Thanks for your hard work. Any amount of information you provide on this blogis going to be great knowing you are doing it in your own time with no financial gain. Keep it up. and yes put few ads to make some money. We want this blog to carry on.

  18. AS December 18, 2012 at 11:57 am

    I think if it takes longer than half an hour to reach from downtown, it should be in a separate list – so, Vancouver West, East, Burnaby, Richmond, North and West Vancouver — maybe include New Westminster or Coquitlam (although personally I would prefer if you did not). The people looking for whether their properties have dropped inside these areas are different from the subset looking at properties outside of them. Similarly, the people looking to buy in Surrey or the sunshine coast have little use for the data far outside of these areas.

    Separating attached and detached is also a great idea.

    I also find the new data going back five years distracting. I know you don’t have access to sales data, but that would be the most interesting. The data only needs to go back to the last sold prices – and then we want to see how far it’s dropped from there. I don’t think all data from 2008, where 3 or 4 sales may have occurred in the interim, is as helpful. In fact, it’s distracting and seems to skew your results in inappropriate ways (like why was a property high in 2008, seemed to have sold low in 2009 and then high again in 2010? – renovations? fires? special assessments?).

    There are too many variables skewing your results and I liked it better when we could only see what’s been happening recently. When my friends are thinking of buying, I want them to see how there have been drops since the recent peaks with the description currently used by the realtor. If you can obtain sale prices, that would be great.

    People also like to quote and say – wow, this property is now selling for below it’s 2006, or 2010 sale price. That’s interesting to me. Any further than the last sale price is just too much information.

    Further, I am not opposed to you using ads on this site. I think you should be compensated for all of the time you’ve put into it. Preferably, the ads would not be distracting and in your face – but please, in my opinion anyway, add them as you see fit.

    • Ray December 18, 2012 at 12:11 pm

      Two comments: 1. don’t use ads, it borderlines commercial and you don’t want to be hunted. 2. I’m growing to love the back to 2006. The “previous” view is still there, this only adds more information. Naturally, calculating the drop since “last sale” would be ideal, but you don’t have it.

      • an observer December 18, 2012 at 12:30 pm

        I appreciate the sentiment where people are saying I should use ads to recoup some costs (there aren’t any) but ads or any other type of commercial aspect of this site are 100% never going to happen

        The extra data is definitely staying but what I may do is use a different background color for rows that are over say 2 years old to make that more obvious.

      • JR December 18, 2012 at 12:37 pm

        Observer, have you heard of PhantomJS? It’s basically a headless webkit browser when used with NodeJS could scraping which could allow to easily obtain assessment info. Drop me an email if you want more info.

  19. Kits December 18, 2012 at 12:39 pm

    There is always a reason for a price that seems to good to be true … #1 property listed for $250k – does not reference the $800 a month you have to pay the city for the lease and the $75k assessment … this is not good value!

    • M- December 19, 2012 at 1:07 pm

      Ah, another dishonest/misleading realtor. Used house dealers will try anything! So much for the “once in a blue moon” deal. No wonder he added “Attention! Achtung!” A Freudian slip of sorts, advising caution despite the low price?

  20. condo_have_no_king December 18, 2012 at 3:05 pm

    Observer, thanks for providing such an entertaining and valuable service! Please keep it up.

  21. an observer December 18, 2012 at 4:33 pm

    Ok, thanks for all the feedback. I’ve combined that with my own thoughts on this and here is what I came up with – there will be 3 weekly top 10 drops:

    1) Top 10 detached Metro Vancouver which includes Van West, Van East, North Van, West Van, Burnaby and Richmond. I’m leaving out New Westminster because the price point is much closer to Coquitlam and other outlying areas

    2) Top 10 attached Metro Vancouver

    3) Top 10 outlying areas which includes all other regions

    I’ll adjust / expand if it looks like I need to down the road. I’ll start today with the top 10 detached in Metro Vancouver

    observer

  22. Ford Prefect December 18, 2012 at 4:38 pm

    Observer, your service is priceless, perhaps because it uses verifiable numbers which in the world of real estate information is invaluable. This I know because I just searched for any type of blog covering real estate on central/north Vancouver Island and particularly in the Courtenay area. There is nothing beyond shameless boosterism, larded with information I know to be false.

  23. HAM Solo December 18, 2012 at 8:21 pm

    Good site. Maybe one week you could run a foreclosures special. it would be nice to see what the actual must-sells are going for.

  24. Vulture Fun December 18, 2012 at 11:29 pm

    Observer, I hear and respect your decision to keep the site advertisement free. It’s not like I’m desperate to see you mar your site with ads, but I do think you should be rewarded in some way for providing this excellent, entertaining public service. I suppose the urge to monetize everything that is popular is one of the uglier aspects of our society, but it was all I could think of. I am spreading the word like a good little disciple, talking about your site everywhere I go.

  25. RFM December 19, 2012 at 9:22 am

    An Observer
    In case you are not aware of it, here’s a way of finding out sales prices on strata-titled properties within central Vancouver:
    So, for example, regarding #1 on this list, you can find the sales price of $349,000 in April 2006 as follows:
    go to http://www.6717000.com
    go to the tab ‘Maps & Floorplans’ at the top.
    go to ‘Map 4″.
    Find the building, called Fountain Terrace, either on the map or list of buildings.
    Under ‘Documents” you will see “Building Sales History’
    Click on that; you will have to sign up for access, which I did years ago and never receive any spam from this site, so it appears safe to do so.
    Once you are in the ‘sales history’ chart, find that unit, which appears as item #s 24&25, with the information that #206 sold for $349,000 in April ’06.
    This site is not perfect and does not have sales histories that are brand new, but it can be helpful.
    Thanks for all your hard work and hope this adds another small piece of information to some of the ‘attached’ lists you plan for future.
    Regards.

  26. Pingback: Real Estate: Vancouver Price Drop ” RICHMOND CONDO “ |

  27. Exurban December 20, 2012 at 3:18 am

    Looks like I’m in the minority here, but I like the way you’ve got entries from all over southwestern B.C. because I’ve lived and worked all over the Lower Mainland and I know a lot of these places. For instance, #9 … White Rock, LOL. That house is just off a roundabout across from an Esso station that is more than TWO MILES from the White Rock boundary (at 16th Avenue).

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