Vancouver Price Drop

Documenting Vancouver real estate price movements

Monthly Archives: January 2013

Listing Requests – January 31, 2013

Once a month I’ll try to open up a Requests post where you can ask about listings that interest you.  Please limit it to a maximum of 3 properties per person.  Tomorrow I’ll post the price drop details along with any assessment / previous sale data I might be able to pull up.

Go ahead and put them in the comments now – please just give me the full address including City.  I don’t need the MLS Number

An Observer

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The Weekly Drop Metro Vancouver Attached – January 30, 2013

Here are the 10 attached properties in Metro Vancouver (Vancouver West, Vancouver East, Burnaby, Richmond, North Vancouver and West Vancouver) that changed their price or were relisted under a new MLS number the previous week AND have dropped the largest percentage overall from their original asking price.

6 listings from Vancouver West, 2 from Richmond and one from Burnaby and Vancouver East


#10 ) Address:# 8 1081 W 8TH AV, Fairview, Vancouver West

July 02, 2010 V840030 $350,000 $0 0%
July 13, 2010 V840030 removed after 11 days
October 23, 2010 V855723 $549,000 $0 0%
November 09, 2010 V855723 removed after 17 days
January 27, 2013 V987588 $425,000 $-124,000 -23%

v987588_11

Current Days on Market: 4 (0.01years)
Current ‘Official’ Days on Market: 4
2012 Assessment: $493,000
2011 Assessment: $486,300

Sold in November 2010 for $455,000 leaving owner with a $60K loss (after all fees) if they get asking price.

Desperation Score: 4.5

Enjoy the lifestyle!! Enter through a peaceful inner courtyard to this Spacious 1 Bedroom plus Den townhouse in Tyndale Court. With many updates already completed it won’t take much to have your dream home here! Reverse floor plan takes advantage of the views as the 2nd floor offers a large living room with balcony and an open den which could be used as a 2nd bedroom. Enjoy the beautiful mountain, city and water views from your roof top deck as well! Centrally located and close to all amenities. Outside is being updated and is being paid for by the Seller! Rentals and pets allowed. Great opportunity here!


#9 ) Address:# 202 255 E 14TH AV, Mount Pleasant, Vancouver East

July 02, 2008 V719836 $389,000 $0 0%
September 24, 2008 V719836 removed after 84 days
March 12, 2012 V936743 $349,000 $-40,000 -10%
April 19, 2012 V936743 $335,000 $-54,000 -14%
April 26, 2012 V936743 removed after 45 days
September 19, 2012 V972089 $325,000 $-64,000 -16%
January 30, 2013 V972089 $299,000 $-90,000 -23%

v972089_11

Current Days on Market: 325 (0.89years)
Current ‘Official’ Days on Market: 134
2012 Assessment: $343,200
2011 Assessment: $373,300
Desperation Score: 17.3

“Currently rented to long term tenant who will likely move. Newer roof and lobby”.  Imagine – you lose money every month subsidizing someone else’s rent, you pay for a new roof and lobby through most likely special assessments and your equity falls like a rock.  “Sorry no pets & no rentals.” – ummmm, didn’t you just say there was a rental?

2 BR in SOMA. Nice layout & floorplan, open kitchen w island & wood fireplace. NE corner w lots of windows. Currently rented to long term tenant who will likely move. Newer roof and lobby. Located in Mount Pleasant’s most desirable neighbourhood, less than one block to Main St. Close to shopping, parks, schools, community centre and transit downtown. If LOCATION is important to you this home has it all! Sorry no pets & no rentals.


#8 ) Address:# 229 8860 NO 1 RD, Boyd Park, Richmond

April 13, 2011 V881579 $239,000 $0 0%
May 27, 2011 V881579 removed after 44 days
July 06, 2011 V897892 $238,000 $-1,000 0%
October 12, 2011 V897892 $229,000 $-10,000 -4%
February 01, 2012 V897892 removed after 210 days
February 03, 2012 V929349 $225,000 $-14,000 -6%
May 24, 2012 V929349 $218,000 $-21,000 -9%
October 01, 2012 V929349 removed after 241 days
October 04, 2012 V974866 $198,000 $-41,000 -17%
January 26, 2013 V974866 $183,000 $-56,000 -23%

v974866_11

Current Days on Market: 659 (1.81years)
Current ‘Official’ Days on Market: 119
2012 Assessment: $182,800
2011 Assessment: $223,500
Desperation Score: 19.8

This condo has been listed for close to 2 years and just had its assessment dropped by close to 20% in 1 year!

Apple Greene” 2 bedroom 2 bathroom apartment. Freshly painted and new carpet throughout. Over 1030 sq ft including the open balcony. in suite storage plus a locker space. Undercover parking. Great complex with indoor and outdoor swimming pools. Seafair shopping center across the road and transit at the door. Excellent value!


#7 ) Address:1805 CREELMAN AV, Kitsilano, Vancouver West

February 24, 2012 V933287 $1,249,000 $0 0%
March 06, 2012 V933287 $1,199,000 $-50,000 -4%
March 30, 2012 V933287 $1,179,000 $-70,000 -6%
May 01, 2012 V933287 removed after 67 days
May 04, 2012 V947539 $1,099,000 $-150,000 -12%
June 30, 2012 V947539 removed after 57 days
January 30, 2013 V987684 $949,000 $-300,000 -24%

v987684_11

Current Days on Market: 1 (0.00years)
Current ‘Official’ Days on Market: 1
2012 Assessment: $1,140,000
2011 Assessment: $1,161,000
Desperation Score: 14.6

Tenanted at $3200/month – in most other cities in the world during normal periods of growth a place that rents for $3,200/month is worth about $500K (150x rent)

Fabulous Kits Point 1/2 duplex, upper unit. City & park view, 2 bedroom plus den, 2 bath. Beautiful condition. Everything you want in a home: near beaches, marina, museum, parks & transit. Priced over $200,000 below assessment was tenanted at $3,200 per month.


#6 ) Address:# 3402 1011 W CORDOVA ST, Coal Harbour, Vancouver West

July 14, 2010 V840573 $3,188,000 $0 0%
December 02, 2010 V840573 removed after 141 days
January 26, 2013 V987280 $2,390,000 $-798,000 -25%

v987280_11

Current Days on Market: 5 (0.01years)
Current ‘Official’ Days on Market: 5
2012 Assessment: $2,366,000
2011 Assessment: $2,383,000
Desperation Score: 4.5

25% and an $800K drop since the last time this was listed 2 and a half years ago

This unit offers 2 spacious bedrooms with stunning views, high ceiling, hardwood flooring and electric window covering. Extensive use of marble throughout entire master bathroom. This building is finished with air conditioning with excellent amenities with pool, exercise room, spa and concierge. Definitely a 5 star residence on top of the 5 star Fairmont Hotel!


#5 ) Address:# 3401 1189 MELVILLE ST, Coal Harbour, Vancouver West

June 16, 2007 V653645 $2,295,000 $0 0%
October 01, 2007 V653645 removed after 107 days
October 07, 2009 V791444 $1,788,000 $-507,000 -22%
October 30, 2009 V791444 $1,718,000 $-577,000 -25%
January 29, 2010 V791444 removed after 114 days
January 14, 2012 V925274 $2,188,000 $-107,000 -5%
March 08, 2012 V925274 removed after 54 days
March 12, 2012 V936640 $2,099,000 $-196,000 -9%
May 14, 2012 V936640 removed after 63 days
September 14, 2012 V971181 $2,088,000 $-207,000 -9%
October 17, 2012 V971181 $1,998,000 $-297,000 -13%
November 24, 2012 V971181 $1,850,000 $-445,000 -19%
January 29, 2013 V971181 $1,698,000 $-597,000 -26%

v971181_11

Current Days on Market: 383 (1.05years)
Current ‘Official’ Days on Market: 139
2012 Assessment: $1,633,000
2011 Assessment: $1,676,000

Sold in March 2010 for $1,650,000 leaving owner with a $40K loss (after all fees) if they get asking price.  This does not include the “2012 EXTENSIVE COMPLETE UPDATED RENOVATION” so realistically they have probably lost a couple of hundred thousand if they sell for asking.

Desperation Score: 27.2

AMAZING LUXURY HOME!!! for a young family. OCEAN & MOUNTAIN VIEW!!! in every room. 24 hour concierge to assist your needs. pool, sauna, jacuzzi, gym, large storage space, 2 parking. VERY GOOD LOCATION!!! Shoppers,Starbucks, Urban fare, 7/11, Waves. medical clinic, Coal Harbour Community Center, parks. day care just downstairs. New …. 2012 EXTENSIVE COMPLETE UPDATED RENOVATION!!! MODERN!!! and Contemporary European Design.Brand NEW!!! Miele and Fisher & Paykel stainless steel kitchen appliance package. Air condition, alarm, large patio. full bathroom in every room. Jacuzzi, shower, his and her double sink for master room. Powder room, pantry, laundry, 2 entrances for unit, alarm. NEW CONDITION!!!


#4 ) Address:# 108 3709 PENDER ST, Willingdon Heights, Burnaby

March 16, 2012 V937566 $277,900 $0 0%
May 22, 2012 V937566 removed after 67 days
May 26, 2012 V952465 $273,400 $-4,500 -2%
October 01, 2012 V952465 removed after 128 days
October 03, 2012 V974709 $247,800 $-30,100 -11%
November 09, 2012 V974709 $237,900 $-40,000 -14%
December 15, 2012 V974709 $222,900 $-55,000 -20%
January 30, 2013 V974709 $199,900 $-78,000 -28%

v974709_11

Current Days on Market: 321 (0.88years)
Current ‘Official’ Days on Market: 120
2012 Assessment: $295,000
2011 Assessment: $254,000
Desperation Score: 29.3

This unit is listed for over 30% BELOW assessment.  “Court Ordered Sale”

Court Ordered Sale. Spacious one bedroom suite with nice floor plan. Fireplace in the living room. Fenced South-facing patio. End unit, parking stall and locker. Close to transportation. Great opportunity. A must view this one.All measurements are approximate and to be verified by buyers. Call for appointment now.


#3 ) Address:# 502 1180 HOMER ST, Yaletown, Vancouver West

September 22, 2007 V669816 $1,450,000 $0 0%
January 23, 2008 V669816 $1,390,000 $-60,000 -4%
April 01, 2008 V669816 removed after 192 days
March 02, 2009 V752034 $1,199,900 $-250,100 -17%
July 01, 2009 V752034 $1,149,900 $-300,100 -21%
January 03, 2010 V752034 removed after 307 days
February 20, 2010 V810704 $1,150,000 $-300,000 -21%
March 04, 2010 V810704 removed after 12 days
June 22, 2012 V957982 $1,099,000 $-351,000 -24%
October 31, 2012 V957982 removed after 131 days
January 12, 2013 V984643 $1,050,000 $-400,000 -28%
January 29, 2013 V984643 $998,000 $-452,000 -31%

V984643_1

Current Days on Market: 223 (0.61years)
Current ‘Official’ Days on Market: 19
2012 Assessment: $934,000

Sold in August 2010 for $986,000 leaving owner with a $44K loss (after all fees) if they get asking price

Sold in July 2004 for $759,900 leaving that owner with a $174K profit (after all fees) when sold to current owners

Desperation Score: 14.0

This two bedroom and den apartment has an exceptional combination of the best in modern conveniences, set in the warmth and character of an exclusive Heritage Building (McMaster Building.) Additional features that make this show piece home comfortable are: spacious open floor plan, 10′ ceilings, reclaimed fir floors, fabulous kitchen with Bosch appliances, gas cook top, gas fireplace, a large master bedroom with sumptuous ensuite both including a steam shower. Walk to shops and restaurants from this sought after location. Included are two sided by side parking stalls. Special! Open House: Saturday February 2nd and Sunday February 3rd, both from 2-4pm.


#2 ) Address:# 209 1477 FOUNTAIN WY, False Creek, Vancouver West

May 17, 2008 V708512 $259,000 $0 0%
July 15, 2008 V708512 removed after 59 days
September 26, 2008 V735871 $259,000 $0 0%
December 12, 2008 V735871 $239,000 $-20,000 -8%
January 31, 2009 V735871 removed after 127 days
February 05, 2009 V751398 $234,900 $-24,100 -9%
March 17, 2009 V751398 $229,900 $-29,100 -11%
May 28, 2009 V751398 removed after 112 days
October 12, 2012 V976127 $289,900 $0 0%
November 29, 2012 V976127 $269,000 $-20,900 -7%
January 01, 2013 V976127 removed after 81 days
January 30, 2013 V987634 $170,000 $-119,900 -41%

v987634_11

Current Days on Market: 111 (0.30years)
Current ‘Official’ Days on Market: 1
2012 Assessment: $268,000
2011 Assessment: $271,000
Desperation Score: 14.3

And this is what happens to lease hold properties…  Asking under $250/sqft and close to 40% BELOW assessment

Literally steps to Granville Island, the Seawall and transportation. This apartment is an open space with a large den area, which could be used as a 2nd bedroom. Newer carpets, New washing machine and Bathroom has a new vanity with granite counter top. The owner has been here for over 20 years. One underground parking stall. The City of Vancouver lease is not prepaid. Please provide 24 hours notice if possible. Showings from 12:00 – 8:00pm only.


#1 ) Address:# 1616 5911 MINORU BV, Brighouse, Richmond

May 21, 2012 V951375 $118,000 $0 0%
January 01, 2013 V951375 removed after 225 days
January 25, 2013 V986859 $65,000 $-53,000 -45%

v986859_11

Current Days on Market: 255 (0.70years)
Current ‘Official’ Days on Market: 6
2012 Assessment: $83,800
2011 Assessment: $75,400
Desperation Score: 7.1

We’ve seen lots of units from 5911 Minoru make the weekly drops, here is a new one to add to the list.  At least they have woken up dropping the price by 45% in one shot

Airport Hilton Hotel, fully management and operated, a great investment in downtown Richmond. Easy access everything. Good return. Upper unit. The owner has benefit to use the Hotel’s facilities and enjoy the discount of hotel room and restaurant.

The Weekly Drop Metro Vancouver Detached – January 29, 2013

Here are the 10 detached properties in Metro Vancouver (Vancouver West, Vancouver East, Burnaby, Richmond, North Vancouver and West Vancouver) that changed their price or were relisted under a new MLS number the previous week AND have dropped the largest percentage overall from their original asking price.

4 properties are from Richmond and West Vancouver with the other 2 coming from Vancouver West and Burnaby

4 of the 6 homes that I have assessment info for both 2011 and 2012 on have dropped in their assessment


#10 ) Address:3711 W 11TH AV, Point Grey, Vancouver West

October 06, 2006 V609351 $1,374,800 $0 0%
October 23, 2006 V609351 $1,298,000 $-76,800 -6%
November 18, 2006 V609351 $1,272,800 $-102,000 -7%
December 11, 2006 V609351 removed after 66 days
January 22, 2010 V805337 $1,575,000 $0 0%
March 05, 2010 V805337 removed after 42 days
May 20, 2011 V889482 $2,188,800 $0 0%
November 18, 2011 V889482 removed after 182 days
November 23, 2011 V920472 $2,088,000 $-100,800 -5%
February 22, 2012 V920472 removed after 91 days
March 01, 2012 V934534 $2,128,000 $-60,800 -3%
March 28, 2012 V934534 $1,998,000 $-190,800 -9%
April 16, 2012 V934534 removed after 46 days
April 26, 2012 V945691 $1,888,000 $-300,800 -14%
June 11, 2012 V945691 removed after 46 days
June 15, 2012 V956705 $1,798,000 $-390,800 -18%
September 08, 2012 V956705 $1,668,000 $-520,800 -24%
November 01, 2012 V956705 removed after 139 days
January 23, 2013 V986350 $1,580,000 $-608,800 -28%

v986350_11

Current Days on Market: 622 (1.70years)
Current ‘Official’ Days on Market: 8
2012 Assessment: $1,618,000
2011 Assessment: $1,763,000
Desperation Score: 23.3

This point grey home has been listed for almost 2 years and is completely empty.  Recently the assessment dropped by $150K and 8%.  It wasn’t that long ago that tear downs on similar lots were selling for more than this 12 year old, like new home.

Well maintained, like new 12 years old 4 bedrooms home in most sought after Point Grey Area. Designed by Formwerks with Classic outlook with 2200 SF of contemporary living. Impressive formal living & dining room are great place for entertaining. Kitchen with open concept. Main floor features 10′ ceiling, gleaming Brazilian cherry wood throughout and gas fireplaces in living & family room. Upper floor has 4 bedrooms or 3+den. N facing bedrooms have mountain view. Downstairs offers a nanny room & 3 piece bath. All appliances, hood fan and carpets were replaced in 2010. Double garage, security system, fully fenced front & back yards. Lord Byng High School & QE Elementary School Catchment. Priced below 2013 assessment


#9 ) Address:7620 NO 2 RD, Granville, Richmond

November 17, 2011 V920043 $1,250,000 $0 0%
February 16, 2012 V920043 $1,125,000 $-125,000 -10%
May 01, 2012 V920043 removed after 166 days
June 04, 2012 V954237 $1,049,000 $-201,000 -16%
July 10, 2012 V954237 $998,000 $-252,000 -20%
September 18, 2012 V954237 removed after 106 days
September 21, 2012 V972635 $958,000 $-292,000 -23%
January 23, 2013 V972635 $899,000 $-351,000 -28%

v972635_11

Current Days on Market: 441 (1.21years)
Current ‘Official’ Days on Market: 132
2012 Assessment: $961,100
2011 Assessment: $990,100
Desperation Score: 23.9

“This Grand Old Home is a Richmond Landmark!” “Note: not a designated “Heritage Home”.”… 

Tremendous Opportunity and a Great Buy! Magnificent home located on a 76 x 120′, 9120 sq ft lot designated Multi Family? Develop now or Own a piece of Richmond’s History while Investing in the Future.This Grand Old Home is a Richmond Landmark! Its a visual delight with peaked dormers and gables, Interior is also very appealing and mechanically sound with plumbing, wiring, heating updated. Most windows are original, original wood floors, 3. bedrooms up, very spacious main floor with updated bright kitchen and large Den. Could be a suite down. Oozes charm! A great place to live, rent out or tum into townhouses. Note: not a designated “Heritage Home”.


#8 ) Address:10751 ROSECROFT CR, South Arm, Richmond

April 14, 2011 V881913 $2,200,000 $0 0%
April 30, 2011 V881913 $1,980,000 $-220,000 -10%
May 25, 2011 V881913 $1,898,000 $-302,000 -14%
June 20, 2011 V881913 removed after 67 days
July 08, 2011 V898603 $1,816,000 $-384,000 -17%
January 01, 2012 V898603 removed after 177 days
July 15, 2012 V962117 $1,789,000 $-411,000 -19%
January 23, 2013 V962117 $1,580,000 $-620,000 -28%

v962117_11

Current Days on Market: 200 (0.55years)
Current ‘Official’ Days on Market: 200
2012 Assessment: $1,175,000
2011 Assessment: $1,197,000
Desperation Score: 14.2

Initially listed at about double assessment value now has dropped to around 40% above assessment…

Tired of typical monster house layout? This one is right for you. Located in desirable South Arm area. Custom-built luxury home built with Vancouver West spec & craftsmanship. Boasts over 3200 sf of practical living space consists of 6 bedrooms & 5.5 baths. Spice & gourmet kitchens equipped with high-end appliances. Open concept kitchen/family room provides perfect space for entertaining. Extensive use of crown mouldings & nice features like HRV, A/C, radiant floor heating, security system, video surveillance, stereo surround system, steam bath with rain shower, in-ground sprinkler..etc. Within walking distance to public transit, shopping, McRoberts High/William Bridge Elementary & community center. New Home Warranty in place.


#7 ) Address:369 MOYNE DR, British Properties, West Vancouver

March 27, 2008 V696732 $1,130,000 $0 0%
May 30, 2008 V696732 removed after 64 days
September 16, 2011 V910357 $4,188,000 $0 0%
November 01, 2011 V910357 $3,988,000 $-200,000 -5%
January 13, 2012 V910357 removed after 119 days
February 01, 2012 V928600 $3,998,000 $-190,000 -5%
March 27, 2012 V928600 $3,688,000 $-500,000 -12%
May 19, 2012 V928600 $3,498,000 $-690,000 -16%
June 30, 2012 V928600 removed after 150 days
July 05, 2012 V960032 $3,199,000 $-989,000 -24%
December 01, 2012 V960032 removed after 149 days
January 23, 2013 V986536 $2,998,000 $-1,190,000 -28%

v986536_11

Current Days on Market: 503 (1.38years)
Current ‘Official’ Days on Market: 8
2012 Assessment: $2,624,000
2011 Assessment: $2,593,000
Desperation Score: 21.5

Down over a million dollars and still overpriced.  Another listing where the realtor is too lazy to spell entire words: “custom res sit on” “Lower BP’S” “w/” “lg bedrooms” “plyrm” “incl” “w/” “S/A, lg W/I” “Mn level” “feat rich H/W flrs” “lg” “kit, brkfst bar” “adj FR w/” “drs” “priv gardens” “rm, lg rec rm w/” “S/S system” “roaring F/P’s”.  You should be embarrassed  or wait  U shld b embd

A spectacular custom res sit on a level estate in Lower BP’S with over 6700 sqft on 3 levels. Beautifully appointed w/4 lg bedrooms & an amazing plyrm up incl a sensational master suite w/high ceilings, separate S/A, lg W/I closet & spa-like ensuite. Mn level feat rich H/W flrs, lg picture windows, elegant foyer, Chef’s island kit, brkfst bar, dry pantry & custom cabinets, adj FR w/built-in media centre – all opening out through French & Eclipse drs to patio w/outdoor BBQ & sunfilled priv gardens. Down has fabulous media/theatre rm, lg rec rm w/wet bar, games area & guest bdrm. Soaring ceilings, S/S system, skylights, 3 roaring F/P’s, level motorcourt & 2-car garage. Child’s paradise! Simply stunning! Irreplaceable value!


#6 ) Address:6811 DUNSANY PL, Woodwards, Richmond

February 13, 2010 V809527 $869,000 $0 0%
March 20, 2010 V809527 $849,000 $-20,000 -2%
March 30, 2010 V809527 removed after 45 days
November 02, 2011 V917945 $1,298,000 $0 0%
February 01, 2012 V917945 removed after 91 days
September 15, 2012 V971508 $949,000 $-349,000 -27%
January 01, 2013 V971508 removed after 108 days
January 23, 2013 V986419 $928,800 $-369,200 -28%

v986419_11

Current Days on Market: 138 (0.38years)
Current ‘Official’ Days on Market: 8
2012 Assessment: $1,130,600
2011 Assessment: $1,147,000
Desperation Score: 9.3

Almost 20% below assessment but it’s “Rarely available”.  Rarely available is one of the silliest things to put in a description unless it really is unique.  Waterfront villa with helicopter launch pad – now that is rarely available. Old rancher in Richmond, not so much.

Rarely available 1,840 sq’ 3-bedroom 2-full baths executive rancher in a very pretty quiet tree-lined neighborhood (between Lucas & Francis & just west of Gilbert). New roof, maple hardwood flooring, kitchen, windows, crown-molding, baseboard, stainless steel kitchen appliances, interior paint & hot water tank all within last few years & brand new 2011 hi-efficiency furnace (2011). 7,610 sq’ lot with 48.14′ frontage. Large wood deck in private huge south backyard. Spacious family room. 2 gas fireplaces. Double garage. Hold now or build a 3,533 sq.ft. house later.


#5 ) Address:6438 MARINE DR, Horseshoe Bay, West Vancouver

January 28, 2011 V865636 $875,000 $0 0%
August 01, 2011 V865636 removed after 185 days
January 13, 2012 V925054 $675,000 $-200,000 -23%
January 20, 2012 V925054 $785,000 $-90,000 -10%
February 24, 2012 V925054 $715,000 $-160,000 -18%
March 05, 2012 V925054 removed after 52 days
January 27, 2013 V987584 $599,000 $-276,000 -32%

No Picture

Current Days on Market: 4 (0.01years)
Current ‘Official’ Days on Market: 4
2012 Assessment: $680,100
Desperation Score: 12.9

“Court Ordered sale.” and again with the rare opportunity… 

Court Ordered sale. This is a fantastic & incredibly rare opportunity to get into the West Vancouver Real Estate market and be a part of this world class community. Charming 1,100 sqft. 2 bedroom cottage nestled privately into a wonderfullyquiet & scenic south/east facing property over 9,000 sqft. totally flat. Enjoy as is with some easy updates or build new. 2 minutes to the heart of Horseshoe Bay & fabulous locally owned shops, restaurants & cafes along the gorgeous waterfront village & promenade. Short stroll to popular Gleneagles Elementary, Gleneagles Golf Course & state of the art rec centre. Road trips ? Quick & easy access to BC Ferry terminal or HWY 1, w/short drive to Whistler or commute to City. Great value.


#4 ) Address:6080 MARINE DR, Big Bend, Burnaby

December 06, 2007 V671697 $498,000 $0 0%
January 01, 2008 V671697 removed after 26 days
November 06, 2009 V796326 $1,260,000 $0 0%
January 19, 2010 V796326 $1,190,000 $-70,000 -6%
May 01, 2010 V796326 removed after 176 days
September 26, 2010 V851901 $1,299,000 $0 0%
January 01, 2011 V851901 removed after 97 days
January 20, 2011 V864163 $1,299,000 $0 0%
March 04, 2011 V864163 $1,250,000 $-49,000 -4%
April 01, 2011 V864163 removed after 71 days
April 07, 2011 V880269 $1,249,000 $-50,000 -4%
July 03, 2011 V880269 removed after 87 days
July 08, 2011 V898456 $999,000 $-300,000 -23%
July 27, 2011 V898456 $1,160,000 $-139,000 -11%
August 04, 2011 V898456 removed after 27 days
October 12, 2012 V976180 $1,749,000 $0 0%
October 16, 2012 V976180 $1,849,000 $0 0%
October 26, 2012 V976180 $1,649,000 $-200,000 -11%
October 30, 2012 V976180 $1,428,000 $-421,000 -23%
November 03, 2012 V976180 $1,350,000 $-499,000 -27%
January 25, 2013 V976180 $1,250,000 $-599,000 -32%

v976180_11

Current Days on Market: 111 (0.30years)
Current ‘Official’ Days on Market: 111
2012 Assessment: $1,081,000
2011 Assessment: $1,045,000
Desperation Score: 38.3

$600K and 32% in drops in 3 months and still overpriced.  This place was available a year and a half ago for under a million and didn’t sell.

ABSOLUTELY GORGEOUS HOME BUILT BY EUROPEAN BUILDER on beautiful deep lot of 50’x207′ & in desirable Burnaby South location. Over 4,018 SqFt of living area & designed to its highest standard. BEST in QUALITY, WORKMANSHIP, full attention to details & supreme finishing. Grand foyer w/high ceilings, extensive use of granite & H/W floors throughout. 9 generous sized bedrooms & 7 bths, entertaining sized open LVGRM & large gourmet KIT w/high-end cabinets & appliances, large isl w/granite countertop. 1 & 3-bdrm walk-out suites as mortgage helper. Beautiful landscaping & PARK-LIKE GARDEN! Close to well know school: Burnaby South, Greenwood Elem & some private schools, golf club, shopping & transit. Easy to SFU, UBC, Douglas! A VERY SPECIAL HOME HAS ALL!


#3 ) Address:3496 MARINE DR, West Bay, West Vancouver

September 24, 2008 V735364 $6,998,000 $0 0%
November 14, 2008 V735364 $5,999,000 $-999,000 -14%
February 28, 2009 V735364 $5,200,000 $-1,798,000 -26%
May 15, 2009 V735364 $4,998,000 $-2,000,000 -29%
August 05, 2009 V735364 $4,498,000 $-2,500,000 -36%
October 01, 2009 V735364 removed after 372 days
October 08, 2009 V791704 $4,498,000 $-2,500,000 -36%
October 14, 2009 V791704 $4,298,000 $-2,700,000 -39%
February 23, 2010 V791704 $3,998,000 $-3,000,000 -43%
March 01, 2010 V791704 removed after 144 days
March 06, 2010 V813078 $3,998,000 $-3,000,000 -43%
April 17, 2010 V813078 $3,750,000 $-3,248,000 -46%
May 30, 2010 V813078 removed after 85 days
September 16, 2010 V850370 $3,995,000 $-3,003,000 -43%
November 29, 2010 V850370 removed after 74 days
January 27, 2011 V865455 $3,995,000 $-3,003,000 -43%
May 25, 2011 V865455 removed after 118 days
April 02, 2012 V940680 $4,988,000 $-2,010,000 -29%
August 22, 2012 V940680 removed after 142 days
September 06, 2012 V969222 $4,688,000 $-2,310,000 -33%
December 17, 2012 V969222 removed after 102 days
January 25, 2013 V986910 $4,488,000 $-2,510,000 -36%

v986910_11

Current Days on Market: 304 (0.83years)
Current ‘Official’ Days on Market: 6
2012 Assessment: $3,836,000
Desperation Score: 10.1

I’ll let this place get away with the term “rare” but still listed $2.5 million below the original 2008 listing price yet half a million over assessment

Spectacular home on one of West Van’s most prestigious streets: South Oxley. Famed architect Brian Hemmingway presided over a substantial renovation of this sleek 4 Bdrm/3 Bath 3,200 sq ft in the early 2000s. Design takes full advantage of rare mind-blowing views of downtown & the Lions Gate Bridge that are exceedingly rare in West Van! The residence itself feels like a luxurious penthouse w/soaring vaulted ceilings. Tranquil Asian inspired landscaping includes waterfalls, ponds & lush vegetation. Private & gated 10,000 sq ft terraced property w/ gorgeous ocean-view patios leading to a sandy beach. Detached guest cottage, zinc roof, double garage and a gourmet chef’s kitchen! A Faultless combination of location, view and price!


#2 ) Address:7245 ARBUTUS PL, Whytecliff, West Vancouver

September 15, 2007 V668506 $5,500,000 $0 0%
December 19, 2007 V668506 removed after 95 days
February 16, 2008 V689276 $4,950,000 $-550,000 -10%
April 20, 2008 V689276 $4,550,000 $-950,000 -17%
June 25, 2008 V689276 $3,995,000 $-1,505,000 -27%
September 13, 2008 V689276 $3,750,000 $-1,750,000 -32%
September 24, 2008 V689276 $3,490,000 $-2,010,000 -37%
January 22, 2009 V689276 removed after 341 days
January 24, 2009 V749726 $3,490,000 $-2,010,000 -37%
March 10, 2009 V749726 $2,995,000 $-2,505,000 -46%
July 01, 2009 V749726 removed after 158 days
July 09, 2009 V775861 $2,998,000 $-2,502,000 -45%
August 12, 2009 V775861 removed after 34 days
June 07, 2012 V954937 $3,688,000 $-1,812,000 -33%
July 05, 2012 V954937 $3,298,000 $-2,202,000 -40%
September 21, 2012 V954937 removed after 106 days
September 26, 2012 V973360 $3,298,000 $-2,202,000 -40%
November 21, 2012 V973360 removed after 56 days
November 24, 2012 V981080 $3,298,000 $-2,202,000 -40%
January 23, 2013 V981080 removed after 60 days
January 26, 2013 V987270 $3,298,000 $-2,202,000 -40%

v987270_11

Current Days on Market: 238 (0.65years)
Current ‘Official’ Days on Market: 5
2012 Assessment: $2,716,000
Desperation Score: 20.2

Another West Vancouver property down by over $2 million since 2007.  Still listed half a million over assessment

Location, exposure and exquisite attention to detail combine to make this truly unique home a treasured experience. This magnificent 2 level gated Water Front estate offers a 1/3 acre of total privacy & approx 180′ of natural beachfront. All of the principle rooms employ massive waterside windows which spill out onto delicious seaside verandas overlooking the waters edge. There are four generous sized bedrooms & 3 bathrooms. Downstairs has a fabulous rec room opening out to an Oceanside Terrace, guest bedrooms & a private office. Walking distance to Whytecliff Park, Gleneagles Golf Course & a short drive to Thunderbird Marina. There is an intrinsic value here which cannot be surpassed for Water Front Living.


#1 ) Address:11400 NO 2 RD, Gilmore, Richmond

September 04, 2011 V908283 $12,800,000 $0 0%
January 11, 2012 V908283 $8,500,000 $-4,300,000 -34%
November 01, 2012 V908283 removed after 424 days
January 27, 2013 V987489 $6,000,000 $-6,800,000 -53%

v987489_11

Current Days on Market: 515 (1.41years)
Current ‘Official’ Days on Market: 4
2012 Assessment: Assessment: Farm Land
Desperation Score: 13.5

Technically farm land but it is in the metro vancouver area so I included it.  Almost $7 million and over 50% in price drops

PRICED TO SELL! Rare opportunity in Steveston. 26.6 acres of AG1, prime location, development encroaching on all sides, prime location. South of Steveston Hwy with 594 feet frontage. Excellent holding property. Ideal to build your dream farm house and have a business or hobby.

The Weekly Drop Suburbs – January 28, 2013

Here are the 10 properties outside of Metro Vancouver (Vancouver West, Vancouver East, Burnaby, Richmond, North Vancouver and West Vancouver) that changed their price or were relisted under a new MLS number the previous week AND have dropped the largest percentage overall from their original asking price.

This one is a day late – will also be doing the regularly scheduled Metro Vancouver detached later today.


#10 ) Address:24410 26TH AV, Otter District, Langley

October 06, 2006 F2619827 $6,500,000 $0 0%
February 25, 2007 F2619827 removed after 142 days
March 22, 2007 F2706784 $6,250,000 $-250,000 -4%
October 02, 2007 F2706784 removed after 194 days
October 19, 2007 F2726971 $5,500,000 $-1,000,000 -15%
December 03, 2007 F2726971 removed after 45 days
January 03, 2008 F2800057 $5,500,000 $-1,000,000 -15%
March 01, 2009 F2800057 removed after 423 days
May 05, 2009 F2908424 $4,790,000 $-1,710,000 -26%
June 02, 2009 F2908424 $3,900,000 $-2,600,000 -40%
January 03, 2010 F2908424 removed after 243 days
February 03, 2010 F1002782 $3,840,000 $-2,660,000 -41%
February 27, 2010 F1002782 $3,780,000 $-2,720,000 -42%
April 10, 2010 F1002782 $3,498,000 $-3,002,000 -46%
January 02, 2011 F1002782 removed after 333 days
June 29, 2012 F1216842 $4,500,000 $-2,000,000 -31%
January 01, 2013 F1216842 removed after 186 days
January 27, 2013 F1301962 $4,488,000 $-2,012,000 -31%

f1301962_1

Current Days on Market: 215 (0.59years)
Current ‘Official’ Days on Market: 3
2012 Assessment: $2,057,000
Desperation Score: 7.3

Proudly presenting this one of kind classic mansion with ultimate privacy. This luxurious and elegant home features 8700 sqft on beautiful 20 acres. Custom built by renown Aspen Company, this home boasts gorgeous French Provincial Kitch, 12 ft ceilings and a plethora of antique light fixtures and fixtures collected by the original owners from around the world and matched w/ the “State of Art” mechanical, electronic & electrical system. The best finished walk out “basement” leads to the large patio, salt water pool, cabana w/ kitch, sauna, tennis court. This resort like home is perfect for entertaining, summer pool parties. Property has lake, workshop and 4 car garage. Absolutely a must see for your buyers who looks for the best. * PREC – Personal Real Estate Corporation


#9 ) Address:# 157 4050 WHISTLER WY, Whistler, Whistler/Pemberton

April 27, 2012 V945985 $139,900 $0 0%
May 25, 2012 V945985 $129,900 $-10,000 -7%
June 29, 2012 V945985 $125,900 $-14,000 -10%
July 19, 2012 V945985 $121,900 $-18,000 -13%
September 05, 2012 V945985 $118,900 $-21,000 -15%
October 27, 2012 V945985 $112,900 $-27,000 -19%
December 05, 2012 V945985 $99,900 $-40,000 -29%
January 04, 2013 V945985 $96,900 $-43,000 -31%
January 23, 2013 V945985 $94,900 $-45,000 -32%

v945985_1

Current Days on Market: 278 (0.76years)
Current ‘Official’ Days on Market: 278
2012 Assessment: $110,700
Desperation Score: 40.7

Affordable vacation property Alert!! This unit is located in the Hilton Hotel, with Phase 1 you have unlimited usage of this slope side studio, located on ground level. The Hilton included amenities such as Award restaurant, popular apres spa, outdoor heated pool, this unit will be steps to Whistler/Blackcomb as well as award winning Restaurants and bars!! This truly is a vacation rental that offers luxury in a affordable price bracket.


#8 ) Address:# 1208 10777 UNIVERSITY DR, Whalley, North Surrey

April 09, 2010 F1009327 $272,000 $0 0%
May 15, 2010 F1009327 removed after 36 days
May 20, 2010 F1014406 $299,000 $0 0%
September 19, 2010 F1014406 removed after 122 days
October 14, 2010 F1025741 $299,000 $0 0%
April 11, 2011 F1025741 removed after 179 days
June 16, 2011 F1115492 $250,000 $-49,000 -16%
October 11, 2011 F1115492 removed after 117 days
October 16, 2011 F1125711 $250,000 $-49,000 -16%
February 11, 2012 F1125711 removed after 118 days
February 16, 2012 F1203902 $250,000 $-49,000 -16%
February 28, 2012 F1203902 $239,900 $-59,100 -20%
August 12, 2012 F1203902 removed after 178 days
September 22, 2012 F1223667 $214,900 $-84,100 -28%
January 20, 2013 F1223667 removed after 120 days
January 25, 2013 F1301664 $199,900 $-99,100 -33%

f1301664_1

Current Days on Market: 1027 (2.81years)
Current ‘Official’ Days on Market: 5
2012 Assessment: $218,300
2011 Assessment: $223,000
Desperation Score: 15.4

1-bedroom condo features hardwood floors, 8ft ceilings, porcelain tiles in the bathroom and laundry. Quartz kitchen countertops. Amenities include gym, media lounge & kitchen. Located near skytrain station.


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

July 25, 2007 F2719191 $540,000 $0 0%
August 14, 2007 F2719191 $520,000 $-20,000 -4%
September 01, 2007 F2719191 $499,900 $-40,100 -7%
November 27, 2007 F2719191 removed after 125 days
October 10, 2011 F1125179 $599,000 $0 0%
November 10, 2011 F1125179 $579,000 $-20,000 -3%
June 30, 2012 F1125179 removed after 264 days
July 08, 2012 F1217664 $578,888 $-20,112 -3%
August 08, 2012 F1217664 removed after 31 days
October 16, 2012 F1225274 $479,000 $-120,000 -20%
November 24, 2012 F1225274 $439,000 $-160,000 -27%
January 25, 2013 F1225274 $399,900 $-199,100 -33%

f1225274_1

Current Days on Market: 478 (1.31years)
Current ‘Official’ Days on Market: 106
2012 Assessment: $415,000
2011 Assessment: $407,000
Desperation Score: 25.6

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.


#6 ) Address:# 74 17712 60TH AV, Cloverdale BC, Cloverdale

December 04, 2008 F2833037 $119,900 $0 0%
January 15, 2009 F2833037 $129,900 $0 0%
January 22, 2009 F2833037 removed after 49 days
January 23, 2009 F2901227 $119,000 $-10,900 -8%
February 17, 2009 F2901227 removed after 25 days
June 19, 2010 F1017462 $129,900 $0 0%
December 01, 2010 F1017462 removed after 165 days
May 17, 2011 F1112771 $129,900 $0 0%
June 25, 2011 F1112771 $119,999 $-9,901 -8%
February 01, 2012 F1112771 removed after 260 days
February 22, 2012 F1204508 $105,900 $-24,000 -18%
October 03, 2012 F1204508 removed after 224 days
December 10, 2012 F1228559 $89,000 $-40,900 -31%
January 05, 2013 F1228559 $85,900 $-44,000 -34%
January 25, 2013 F1228559 $79,990 $-49,910 -38%

f1228559_1

Current Days on Market: 956 (2.62years)
Current ‘Official’ Days on Market: 51
2012 Assessment: $89,100
2011 Assessment: $91,300
Desperation Score: 21.4

CALIFORNIA-STYLE 2 LEVEL TOWNHOME! On the 2nd and 3rd levels of the building. Up the stairs to your hallway, then enter your foyer. Up a few stairs to the huge living and dining room area with sliding glass doors that lead to the sundeck. Your viewpoint is the spacious complex grassed yard area. The kitchen has been updated, very comfy. Up some more stairs to the full bathroom, storage area, and large master bedroom. Strata fees 280ish, no rental restrictions, pets allowed. Close to bus routes, shopping, freeway, and various recreational opportunities. Nice condition unit. * PREC – Personal Real Estate Corporation


#5 ) Address:22777 48TH AV, Salmon River, Langley

March 07, 2009 F2904554 $2,490,000 $0 0%
August 01, 2009 F2904554 removed after 147 days
January 08, 2011 F1100405 $1,289,000 $-1,201,000 -48%
October 01, 2011 F1100405 removed after 266 days
February 08, 2012 F1203167 $1,549,000 $-941,000 -38%
August 02, 2012 F1203167 removed after 176 days
January 23, 2013 F1301433 $1,388,800 $-1,101,200 -44%

f1301433_1

Current Days on Market: 753 (2.06years)
Current ‘Official’ Days on Market: 7
2012 Assessment: $1,006,000
Desperation Score: 6.6

Terrific level 10 acres – great holding property for the future. Directly across the street from commercial ventures, churches, schools and just down the road from residential development. Not currently out of the ALR but a great opportunity to buy now and wait. Solid 2272 sqft 4 bedroom home with Mountain view. 200 Amp service. Walk to all amenities that Murrayville has to offer. Call today! * PREC – Personal Real Estate Corporation


#4 ) Address:30286 SILVERDALE AV, Mission-West, Mission

June 24, 2009 F2913807 $999,950 $0 0%
July 30, 2009 F2913807 $900,000 $-99,950 -10%
August 15, 2009 F2913807 $799,900 $-200,050 -20%
October 01, 2009 F2913807 $729,900 $-270,050 -27%
October 27, 2009 F2913807 $719,900 $-280,050 -28%
November 07, 2009 F2913807 $699,900 $-300,050 -30%
January 12, 2010 F2913807 $679,900 $-320,050 -32%
March 24, 2011 F2913807 removed after 638 days
November 08, 2011 F1127286 $679,900 $-320,050 -32%
January 04, 2012 F1127286 $619,900 $-380,050 -38%
August 21, 2012 F1127286 $589,900 $-410,050 -41%
January 01, 2013 F1127286 removed after 420 days
January 26, 2013 F1301876 $549,900 $-450,050 -45%

f1301876_1

Current Days on Market: 449 (1.23years)
Current ‘Official’ Days on Market: 4
2012 Assessment: $690,000
Desperation Score: 14.6

Over 10 acres with 2 large barns and a house with good bones! Wonderful upgrades have been done to the appearance of this acreage! Including an approved with City of Mission fill contract! The house look good upstairs but the basement has been gutted – wasn’t a grow! The barns are big and solid! One has a oodles of power as it going to be a commercial fish smoker at one point.. Part of the property is in the flood plain…. Great spot to build a dream home and/or dream horse arena or???? $120,000 UNDER ASSESSMENT!! Get out and have a look!


#3 ) Address:12404 248TH ST, Websters Corner, Maple Ridge

July 22, 2009 V777951 $1,099,000 $0 0%
January 03, 2010 V777951 removed after 165 days
July 02, 2010 V839973 $775,000 $-324,000 -29%
June 07, 2011 V839973 $699,000 $-400,000 -36%
October 31, 2011 V839973 removed after 486 days
January 26, 2012 V927858 $699,000 $-400,000 -36%
April 24, 2012 V927858 removed after 89 days
May 11, 2012 V949378 $699,000 $-400,000 -36%
November 08, 2012 V949378 removed after 181 days
January 25, 2013 V986781 $599,800 $-499,200 -45%

v986781_1

Current Days on Market: 1288 (3.53years)
Current ‘Official’ Days on Market: 5
2012 Assessment: $661,400
Desperation Score: 9.1

Level 5.935 acre building site on city water located close to Maple Ridge Town Center. Build your dream home in this country setting with 2 road accesses, from 248th or 250th walking distance to elementary & high school. Land value only, tons of potential here. Home sold ‘AS IS’.


#2 ) Address:8624 GAGLARDI ST, Mission-West, Mission

April 28, 2007 F2710291 $495,900 $0 0%
June 01, 2007 F2710291 removed after 34 days
August 27, 2008 F2825034 $439,900 $-56,000 -11%
October 17, 2008 F2825034 $419,900 $-76,000 -15%
November 27, 2008 F2825034 $399,900 $-96,000 -19%
January 20, 2009 F2825034 $374,900 $-121,000 -24%
February 16, 2009 F2825034 removed after 173 days
May 05, 2009 F2908302 $374,900 $-121,000 -24%
May 27, 2009 F2908302 $364,900 $-131,000 -26%
June 17, 2009 F2908302 removed after 43 days
February 25, 2012 F1204863 $389,000 $-106,900 -22%
April 04, 2012 F1204863 $369,000 $-126,900 -26%
April 26, 2012 F1204863 $349,500 $-146,400 -30%
August 23, 2012 F1204863 removed after 180 days
October 23, 2012 F1225865 $299,000 $-196,900 -40%
November 20, 2012 F1225865 $288,800 $-207,100 -42%
December 18, 2012 F1225865 $272,000 $-223,900 -45%
January 18, 2013 F1225865 removed after 87 days
January 26, 2013 F1301829 $259,900 $-236,000 -48%

f1301829_1

Current Days on Market: 340 (0.93years)
Current ‘Official’ Days on Market: 4
2012 Assessment: $391,700
2011 Assessment: $345,700
Desperation Score: 28.6

ACREAGE!!! Take advantage of this rare opportunity! A livable Country style home on just over 1 acre in the Silverdale area. The acreage is cleared and has a gentle slope to the front of the property. The well and Septic has been upgraded (buyer to verify). Great property to build your new dream house on or just put your finishing touches on the existing home. Minutes walk to Silverdale Elementary and a 1 minute drive to the Lougheed Hwy.


#1 ) Address:# LT.3 SWARD RD, Mission BC, Mission

July 17, 2009 F2908175 $299,000 $0 0%
October 31, 2009 F2908175 $269,000 $-30,000 -10%
September 01, 2010 F2908175 removed after 411 days
March 10, 2012 F1206134 $299,900 $0 0%
April 28, 2012 F1206134 $250,000 $-49,900 -17%
June 04, 2012 F1206134 removed after 86 days
June 06, 2012 F1214691 $249,000 $-50,900 -17%
June 21, 2012 F1214691 $234,000 $-65,900 -22%
July 07, 2012 F1214691 $226,500 $-73,400 -24%
July 26, 2012 F1214691 $214,900 $-85,000 -28%
August 11, 2012 F1214691 $201,900 $-98,000 -33%
August 28, 2012 F1214691 $189,900 $-110,000 -37%
September 22, 2012 F1214691 $185,900 $-114,000 -38%
October 16, 2012 F1214691 $179,900 $-120,000 -40%
November 03, 2012 F1214691 $169,900 $-130,000 -43%
November 15, 2012 F1214691 $154,900 $-145,000 -48%
December 04, 2012 F1214691 $146,000 $-153,900 -51%
January 01, 2013 F1214691 $137,000 $-162,900 -54%
January 09, 2013 F1214691 $132,000 $-167,900 -56%
January 23, 2013 F1214691 $121,000 $-178,900 -60%

f1214691_1

Current Days on Market: 326 (0.89years)
Current ‘Official’ Days on Market: 238
2012 Assessment: No Assessment
Desperation Score: 81.9

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

The Weekly Drop Metro Vancouver Attached – January 23, 2013

Here are the 10 attached properties in Metro Vancouver (Vancouver West, Vancouver East, Burnaby, Richmond, North Vancouver and West Vancouver) that changed their price or were relisted under a new MLS number the previous week AND have dropped the largest percentage overall from their original asking price.

8 listings from Vancouver West and 2 from Burnaby

The number of people who are currently under water with their condo’s is staggering and I’d bet 90% of these people don’t even realize it yet – how many can even afford to write the cheque to the bank to close the sale?  Hey Global, that’s a news story


#10 ) Address:# 3602 1211 MELVILLE ST, Coal Harbour, Vancouver West

V986463_1

February 24, 2008 V690786 $2,650,000 $0 0%
April 03, 2008 V690786 removed after 39 days
December 13, 2009 V800879 $3,180,000 $0 0%
December 17, 2009 V800879 removed after 4 days
January 04, 2010 V801877 $3,180,000 $0 0%
January 05, 2010 V801877 removed after 1 days
November 02, 2011 V918070 $2,680,000 $-500,000 -16%
June 30, 2012 V918070 removed after 241 days
August 25, 2012 V967923 $2,630,000 $-550,000 -17%
December 31, 2012 V967923 removed after 128 days
January 23, 2013 V986463 $2,500,000 $-680,000 -21%

Current Days on Market: 449 (1.23years)
Current ‘Official’ Days on Market: 1
2012 Assessment: $2,521,000
2011 Assessment: $2,385,000

Perched high in the Coal Harbour area. The Ritz collection, rare three bedroom unit features northeast view of mountains, Stanley Park, Lions Gate Bridge and Burrard Inlet. Extra height ceiling, air conditioning and a gourmet kitchen. This three bedroom unit has a family room which can be the fourth. Great “resort” style amenities such as indoor heated pool, sauna and steam room and fully equipped gym. Call now for a private viewing.


#9 ) Address:# 3605 833 SEYMOUR ST, Downtown, Vancouver West

V986108_1

June 02, 2011 V879660 $1,728,000 $0 0%
September 24, 2011 V879660 $1,480,000 $-248,000 -14%
January 01, 2012 V879660 removed after 213 days
February 25, 2012 V933545 $1,480,000 $-248,000 -14%
April 23, 2012 V933545 removed after 58 days
April 28, 2012 V946385 $1,388,000 $-340,000 -20%
November 01, 2012 V946385 removed after 187 days
January 19, 2013 V986108 $1,349,000 $-379,000 -22%

Current Days on Market: 602 (1.65years)
Current ‘Official’ Days on Market: 5
2012 Assessment: $988,000
2011 Assessment: $989,000

I can’t understand the pricing on this one with 22% in price drops and still about 35% OVER assessment

CAPITAL RESIDENCES. Welcome to the Vancouver’s most vibrant Downtown living w/sweeping VIEWS of Water and City Skyline from every rooms. This LUXURIOUS STYLISH AIR CONDITIONED 3 bedrooms + Storage/Office (can be used as a Den) & 2 baths, 1,174 sq ft home has many recent CUSTOM HIGH QUALITY UPGRADE included: H/W floors, Exquisite Window Shades, Wall Cabinets, shelves, etc. Open concept living, dining rooms & Chef’s kitchen w/top of the line appliances, gas cook top & over height ceiling. Luxurious master en-suite has double sinks & walk-in closet. Building feature concierge, fitness centre, lounge, meeting rm, high speed elevators & remaining Building Warranty. Truly a First Class Location, close to entertainment/financial district, shops, transit.


#8 ) Address:# 2003 1020 HARWOOD ST, West End, Vancouver West

V981130_1

May 20, 2007 V648548 $819,000 $0 0%
June 20, 2007 V648548 $788,000 $-31,000 -4%
July 10, 2007 V648548 removed after 51 days
November 24, 2012 V981130 $699,900 $-119,100 -15%
December 19, 2012 V981130 $659,900 $-159,100 -19%
January 23, 2013 V981130 $629,900 $-189,100 -23%

Current Days on Market: 61 (0.17years)
Current ‘Official’ Days on Market: 61
2012 Assessment: $720,000
2011 Assessment: $719,000

Sold: $780,000 August 2007
Total Loss IF sold for list price: 41,837 transaction costs and 150,100 loss on sale = LOSS of $191,937 over 5 and a half years

Sold: $600,000 October 2005 – profit of $137,560 in 2 years when this owner sold in 2007

The person who bought this in 2005 and sold 2 years later for a $138K presumably tax free gain is laughing.  The current owner who is down almost $200K in 5 and a half years if he gets asking probably isn’t laughing a whole lot

The CRYSTALLIS! City living at it’s finest within minutes to Downtown, False Creek, and English Bay. Bright two bedroom, two bath NW corner suite with sweeping view from False Creek to Stanley Park. Windows on two sides, circular corner balcony, insuite laundry, gourmet kitchen, maple floors & quality decor throughout. Building envelope in progress, all new next year. Amenities include pool, hot tub, exercise area & decks. Pets OK. Easy walk to shops, CBD, False Creek, beaches, restaurants & entertainment. Call your realtor & view today!


#7 ) Address:6629 SPERLING AV, Upper Deer Lake, Burnaby

V986219_1

March 23, 2011 V877264 $1,100,000 $0 0%
April 08, 2011 V877264 removed after 16 days
November 04, 2011 V918347 $888,000 $-212,000 -19%
November 17, 2011 V918347 removed after 13 days
November 19, 2011 V920302 $888,000 $-212,000 -19%
January 04, 2012 V920302 removed after 46 days
January 07, 2012 V923885 $888,000 $-212,000 -19%
April 18, 2012 V923885 removed after 102 days
April 20, 2012 V944417 $880,000 $-220,000 -20%
August 31, 2012 V944417 removed after 133 days
September 02, 2012 V968935 $929,000 $-171,000 -16%
October 25, 2012 V968935 $910,000 $-190,000 -17%
January 17, 2013 V968935 removed after 137 days
January 20, 2013 V986219 $840,000 $-260,000 -24%

Current Days on Market: 447 (1.22years)
Current ‘Official’ Days on Market: 4
2012 Assessment: $829,000

I can’t quote get my head around a close to million dollar 1/2 duplex in Burnaby.  If this doesn’t scream HOUSING BUBBLE then I don’t know what to say.

Brand new quality built 1/2 duplex in one of Burnaby’s most exclusive areas. This spacious 5 bedroom 4 bath home, situated on a generous 60x138ft lot, features an open layout with no wasted space. Thoughtfully designed with high ceilings, gourmet kitchen w/ granite counter tops, maple cabinets and crown mldgs throughout, this home will satisfy the fussiest buyer! Upper floor hosts 3 large rooms w/ den and jetted tub in the master. Other features include radiant heat, HW floors and detached garage w additional parking. Second living space w/ separate entry to finish off this absolute gem!


#6 ) Address:# 103 1252 HORNBY ST, Downtown, Vancouver West

V986578_1

November 01, 2007 V676174 $524,900 $0 0%
May 07, 2008 V676174 removed after 188 days
May 17, 2008 V709584 $524,900 $0 0%
April 23, 2009 V709584 $419,900 $-105,000 -20%
May 06, 2009 V709584 removed after 354 days
October 08, 2009 V791861 $449,900 $-75,000 -14%
October 27, 2009 V791861 removed after 19 days
October 31, 2012 V978576 $458,000 $-66,900 -13%
January 19, 2013 V978576 removed after 80 days
January 23, 2013 V986578 $399,000 $-125,900 -24%

Current Days on Market: 85 (0.23years)
Current ‘Official’ Days on Market: 1
2012 Assessment: $420,000
2011 Assessment: $446,000

Sold: $430,000 December 2009
Total Loss IF sold for list price: 28,372 transaction costs and 31,000 loss on sale = LOSS of $59,372 over 3 years

A $60K loss in 3 years if sold for asking… “***Urgent Sale!!!”  “$47,000 under BC Tax assessment.” – they’ll need to update this since assessment dropped about 6% this past year.  “an intelligent purchase”

***Urgent Sale!!! $47,000 under BC Tax assessment. Only $522/ SF for this spacious loft with 14 ft ceilings makes this an intelligent purchase*** PURE, a boutique 15-storey bldg in the heart of downtown. Enjoy this modern 764 SF one bedroom + flex space which boasts 14 ft ceiling, floor to ceiling windows & a 250 SF patio for all your entertaining & relaxation needs. Kitchen features S/S appliances, granite countertops & a gas cooktop. Conveniently located in downtown, this exceptional unit will be make a great home for years to come! First showings Jan 25th, 10-12PM. Open House, Jan 26/27, Sat & Sun, 2-4PM.


#5 ) Address:807 SAWCUT, False Creek, Vancouver West

V986044_1

December 06, 2012 V982060 $660,000 $0 0%
January 11, 2013 V982060 removed after 36 days
January 19, 2013 V986044 $499,900 $-160,100 -24%

Current Days on Market: 49 (0.13years)
Current ‘Official’ Days on Market: 5
2012 Assessment: $651,000
2011 Assessment: $625,000

This is a 36 year old condo that dropped 24% in a little over a month and is now listed at almost 25% BELOW assessment.  As a kick in the face to the owners, somehow the assessment increased this year by 4%

This spacious 3 -bed townhome boasts value in a highly desired location. Just a 3-minute walk to the seawall, rapid transport (Canada Line and main bus routes), Whole Foods and London Drugs, all your amenities are just steps away. A bright, corner unit with sun from the South and views of the North, this home offers plenty of outdoor space with 3 large decks & private yard. You may also build your own private rooftop patio offering exceptional city views. Immediate proximity to world-class schools. Pets are allowed, which makes the 1-minute walk to the dog park ideal. Rentals ok. This is a rare opportunity to live in a highly desired location, do not miss out!


#4 ) Address:# 407 9298 UNIVERSITY CR, Simon Fraser Univ., Burnaby

V964046_1

June 09, 2007 V652367 $478,000 $0 0%
August 11, 2007 V652367 $465,000 $-13,000 -3%
August 24, 2007 V652367 $455,000 $-23,000 -5%
September 05, 2007 V652367 removed after 88 days
January 14, 2008 V683231 $439,000 $-39,000 -8%
August 01, 2008 V683231 removed after 200 days
July 21, 2011 V900778 $649,900 $0 0%
December 16, 2011 V900778 removed after 148 days
April 04, 2012 V940809 $499,500 $-150,400 -23%
June 22, 2012 V940809 removed after 79 days
July 27, 2012 V964046 $499,500 $-150,400 -23%
January 17, 2013 V964046 $474,000 $-175,900 -27%

Current Days on Market: 553 (1.52years)
Current ‘Official’ Days on Market: 150
2012 Assessment: $421,000

Listed for 1.5 years and isn’t going anywhere unless the owners knock down their price quickly

Gorgeous views of the North Shore mountains, Burrard Inlet and city lights from a 2 bedroom, 2 bathroom 1073 sqft NE corner suite with an open floor plan including a family/den area. The home features hardwood flooring in the living, dining and family areas, granite counters in the bathrms and kitchen, SS appliances and an 8′ long breakfast bar. Enjoy the views and stunning sunrises from the large corner windows in the master, spacious living area complete with a fireplace or from your over-sized sundeck, 15’1×7’6, ideal for relaxing or barbecuing. A great loc only steps to a shopping area, the SFU campus, transit, a school and numerous hiking trails. All this and a very private, quiet suite in a greenbelt setting at “UniverCity”.


#3 ) Address:# 601 499 DRAKE ST, Yaletown, Vancouver West

V986624_1

September 27, 2007 V670617 $5,599,000 $0 0%
March 13, 2008 V670617 $4,900,000 $-699,000 -12%
April 11, 2008 V670617 removed after 197 days
June 18, 2011 V889173 $6,900,000 $0 0%
August 31, 2011 V889173 removed after 74 days
May 09, 2012 V948740 $6,199,000 $-701,000 -10%
July 31, 2012 V948740 $5,890,000 $-1,010,000 -15%
October 24, 2012 V948740 $5,480,000 $-1,420,000 -21%
January 01, 2013 V948740 removed after 237 days
January 23, 2013 V986624 $4,999,900 $-1,900,100 -28%

Current Days on Market: 260 (0.71years)
Current ‘Official’ Days on Market: 1
2012 Assessment: $4,371,000
2011 Assessment: $4,528,000

Sold: $3,900,000 November 2006
Total Loss IF sold for list price: 226,597 transaction costs and 1,099,900 profit on sale = hopeful PROFIT of $873,303 in 5 years

Sold: $3,540,000 November 2005
Profit of $171,400 in 1 year when this owner sold in 2006

The person who bought this in 2005 made a nice profit of $171,400 in a year.  The current owner, after 28% and $1.9 million in price drops over the course of 5+ years, is still hoping for a close to million dollar profit.  It is a special kind of person (ie obscenely rich) that would purchase this place so a million here or there doesn’t mean a whole lot but hard to imagine many people looking for $5 million apartments in a crashing market

The famous PENTHOUSE at the multiple award-winning “Grace”, located in the heart of Yaletown. A statement in quality & design. Offering 4741 sqft of living space, spread over 2 lvls, accessed by private elevator with biometric fingerprint security, 7 O/D terraces, 39′ private infinity lap pool, sweeping wrought-iron staircase, vauited ceils, 3 grand bedrooms with exceptional master ensuite/spa w/ steam shower & French doors to private terrace. Prodigious use of limestone & mosaic tiling, cherry wood flrs, custom millwork. Immense commercial grade kitchen, 8 brn gas stove, pantry. Artfully designed for sophisticated living & entertaining. Absolutely world class residence. Join the famous & elite few who have called this home. A “House in the Sky”! http://www.601-499drakestreet.com


#2 ) Address:8785 OAK ST, Marpole, Vancouver West

V975846_1

October 02, 2008 V737009 $584,060 $0 0%
November 05, 2008 V737009 $473,860 $-110,200 -19%
March 05, 2009 V737009 $449,800 $-134,260 -23%
July 01, 2009 V737009 removed after 272 days
August 01, 2009 V779827 $448,000 $-136,060 -23%
October 01, 2009 V779827 removed after 61 days
November 06, 2009 V796456 $498,000 $-86,060 -15%
December 11, 2009 V796456 removed after 35 days
October 11, 2012 V975846 $440,900 $-143,160 -25%
November 09, 2012 V975846 $429,900 $-154,160 -26%
December 01, 2012 V975846 $424,900 $-159,160 -27%
December 21, 2012 V975846 $419,900 $-164,160 -28%
January 23, 2013 V975846 $412,900 $-171,160 -29%

Current Days on Market: 105 (0.29years)
Current ‘Official’ Days on Market: 105
2012 Assessment: $479,000
2011 Assessment: $479,000

“Move into this lovely home for Christmas.”

Superb location. No need for a car in this location. Generous sized bedrooms. Bright corner unit. Easy to view. Move into this lovely home for Christmas.


#1 ) Address:# 604 1280 RICHARDS ST, Yaletown, Vancouver West

V985901_1

January 02, 2009 V734800 $1,849,000 $0 0%
March 06, 2009 V734800 removed after 63 days
January 11, 2012 V924318 $1,429,000 $-420,000 -23%
April 30, 2012 V924318 removed after 110 days
May 12, 2012 V949664 $1,399,000 $-450,000 -24%
August 27, 2012 V949664 removed after 107 days
September 14, 2012 V971288 $1,390,000 $-459,000 -25%
January 10, 2013 V971288 removed after 118 days
January 19, 2013 V985901 $1,299,000 $-550,000 -30%

Current Days on Market: 379 (1.04years)
Current ‘Official’ Days on Market: 5
2012 Assessment: $1,250,000
2011 Assessment: $1,347,000
2011 Last Sale: $1,320,000 on 13/Sep/2011
Total Loss IF sold for list price: 71,372 transaction costs and 21,000 loss on sale = LOSS of 92,372

And yet another listing where the owner is facing a huge loss if they can manage to sell for asking.  They purchased the place for $1.32 million in what looks like a private sale and a few months later tried to flip for a profit.  They very slowly lowered the price over 2012 then received their assessment showing a $100K and 7% drop in assessment.  They’ve gone into crisis mode but likely too little too late

This beautiful home n the highly desired Grace Residences is in immaculate “move in” condition. Features include a luxurious master bedroom and ensuite with claw foot soaker tub and Indonesian washboard vanity, 10′ ceilings throughout with vault in living room, extra large picture windows, limestone porcelain tile floors, 8″ baseboards, crown mouldings plus a gourmet kitchen boasting granite counters, Subzero & Bosch stainless appliances; just perfect for entertaining. The gallery entrance creates a lovely sense of arrival to this exceptional space. Building amenities include Geothermal heating/cooling, Biometric Security system, an indoor/outdoor pool, hot tub, gym, concierge and even access to a Rolls Royce. Priced to sell!