Vancouver Price Drop

Documenting Vancouver real estate price movements

Monthly Archives: March 2013

Weekly Drop Metro Vancouver Attached – March 27, 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 3 weeks AND have dropped the largest percentage overall from their original asking price.


#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%
February 20, 2013 V987588 $409,900 $-139,100 -25%
March 13, 2013 V987588 $394,900 $-154,100 -28%

v987588_1

Current Days on Market: 61 (0.17years)
Current ‘Official’ Days on Market: 61
2012 Assessment: $493,000
2011 Assessment: $486,300
Desperation Score: 18.6

“Outside is being updated and is being paid for by the Seller!” yes still listed for 20% BELOW assessment

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:# 205 5520 JOYCE ST, Killarney, Vancouver East

June 12, 2008 V715414 $235,000 $0 0%
August 16, 2008 V715414 removed after 65 days
April 24, 2010 V825111 $189,900 $-45,100 -19%
May 30, 2010 V825111 removed after 36 days
March 07, 2012 V935673 $183,000 $-52,000 -22%
December 31, 2012 V935673 removed after 299 days
March 10, 2013 V994771 $168,000 $-67,000 -29%

No Picture

Current Days on Market: 387 (1.06years)
Current ‘Official’ Days on Market: 19
2012 Assessment: $156,000
2011 Assessment: $189,500
Desperation Score: 7.9

“Investor this is it!”… abysmal description, Kit Sorongon can’t even be bothered to include a picture, assessment dropped 18% in the past year and listing price is almost 30% below what it was in 2008. Good luck

Amazing price! Great location! Far better than renting. Pride of ownership! Investor this is it!


#8 ) Address:# 2401 1011 W CORDOVA ST, Coal Harbour, Vancouver West

April 14, 2010 V821723 $4,899,000 $0 0%
July 08, 2010 V821723 $4,288,000 $-611,000 -12%
January 01, 2011 V821723 removed after 262 days
January 28, 2011 V865667 $4,288,000 $-611,000 -12%
November 01, 2011 V865667 $3,920,000 $-979,000 -20%
January 01, 2012 V865667 removed after 338 days
January 26, 2012 V927680 $3,920,000 $-979,000 -20%
June 15, 2012 V927680 removed after 141 days
June 21, 2012 V957714 $3,800,000 $-1,099,000 -22%
March 18, 2013 V957714 removed after 270 days
March 23, 2013 V997220 $3,500,000 $-1,399,000 -29%

v997220_1

Current Days on Market: 1080 (2.96years)
Current ‘Official’ Days on Market: 6
2012 Assessment: $3,598,000
2011 Assessment: $3,639,000
Desperation Score: 21.7

Listed for 3 years and now finally below assessment after $1.4 million in price drops.  Days on market should be 1080 but officially it is 6…

Magnificent ocean & mountain views from this premium NE corner residence at the Fairmont Pacific Rim Estates. A collection of luxury residences distinctly designed to capture & maximize each exposure & orientation. This NE unit offers a world class luxury living, unsurpassed quality, craftsmanship & detail throughout.


#7 ) Address:# 703 2108 W 38TH AV, Kerrisdale, Vancouver West

December 18, 2011 V922670 $918,000 $0 0%
February 11, 2012 V922670 $868,000 $-50,000 -5%
April 21, 2012 V922670 $788,000 $-130,000 -14%
June 30, 2012 V922670 removed after 195 days
March 08, 2013 V994515 $638,000 $-280,000 -31%

v994515_1

Current Days on Market: 21 (0.06years)
Current ‘Official’ Days on Market: 21
2012 Assessment: $676,000
2011 Assessment: $747,000
Desperation Score: 23.7

I guess they tried the pull the listing and relist in the spring for profit trick…  except the new listing price has come down $150K and almost 20%

“Wilshire” building located in the heart of Kerrisdale. Rare and fabulous Southeast-facing, 1,248 SqFt corner unit with 2 bedrooms & 2 bathrooms. Excellent layout with spacious living and family rooms, gourmet kitchen with eating nook and a balcony off the 2nd bedroom. 2-car parking and 1 storage locker. Adult-Oriented building and all owner occupied. Walking distance to Kerrisdale Community Centre, Public Library, banks, shops and transit. A true pleasure to show.


#6 ) Address:# 301 168 POWELL ST, Downtown, Vancouver East

December 20, 2009 V801434 $618,800 $0 0%
March 06, 2010 V801434 $599,000 $-19,800 -3%
May 21, 2010 V801434 removed after 152 days
March 17, 2011 V875921 $489,000 $-129,800 -21%
June 02, 2011 V875921 $469,000 $-149,800 -24%
August 16, 2011 V875921 removed after 152 days
April 18, 2012 V943833 $469,000 $-149,800 -24%
January 01, 2013 V943833 removed after 258 days
March 16, 2013 V996114 $429,900 $-188,900 -31%

v996114_1

Current Days on Market: 345 (0.95years)
Current ‘Official’ Days on Market: 13
2012 Assessment: $424,000
2011 Assessment: $414,000
Desperation Score: 10.2

SMART Gastown Living. This 992 sq ft 2 bedroom, 1 bath with huge living room with a Den that can be a third bedroom. Very bright with laminate bamboo flooring throughout & faces south. Enjoy living in this district bordering historic Gastown. Minutes to all your shopping, restaurants & transit. All measurements are approximate, buyer to verify if important. Easy to show.


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

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%
February 15, 2013 V975846 $399,900 $-184,160 -32%
March 12, 2013 V975846 $389,900 $-194,160 -33%
March 27, 2013 V975846 $384,900 $-199,160 -34%

v975846_1

Current Days on Market: 169 (0.46years)
Current ‘Official’ Days on Market: 169
2012 Assessment: $479,000
2011 Assessment: $479,000
Desperation Score: 26.0

Superb location. No need for a car in this location. Generous sized bedrooms. Bright corner unit. Easy to view.


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

March 16, 2011 V875113 $259,000 $0 0%
June 08, 2011 V875113 removed after 84 days
July 02, 2011 V897691 $259,900 $0 0%
September 30, 2011 V897691 removed after 90 days
May 26, 2012 V952576 $258,800 $-1,100 0%
June 23, 2012 V952576 $244,900 $-15,000 -6%
July 12, 2012 V952576 $234,900 $-25,000 -10%
September 05, 2012 V952576 removed after 102 days
September 08, 2012 V969851 $224,000 $-35,900 -14%
October 05, 2012 V969851 $205,000 $-54,900 -21%
November 17, 2012 V969851 $195,000 $-64,900 -25%
January 10, 2013 V969851 $185,000 $-74,900 -29%
March 21, 2013 V969851 removed after 194 days
March 25, 2013 V997320 $169,900 $-90,000 -35%

v997320_1

Current Days on Market: 307 (0.84years)
Current ‘Official’ Days on Market: 4
2012 Assessment: $251,400
2011 Assessment: $289,400
Desperation Score: 24.6

“Building re-piped & painted, new windows (2010) & new boiler (2011)” yet still “Sold “As-Is, Where-Is””…  

Spacious and Bright 1345 sqft 3 bdrm corner unit with efficient floor plan and open landscape view. Open concept living & dining room, and 60ft2 solarium. Kitchen Includes SS appliances, newer cabinet, tile backsplash & tile flooring. Building re-piped & painted, new windows (2010) & new boiler (2011). Popular Steveston North walking distance to schools, shopping, transit, park, Steveston Village & Dyke trails.Unit has easy access to shared laundry room, and parking. School catchment: Manoah Steves Elem & Hugh Boyd High School. While Info is deemed to be correct, it is not guaranteed. Buyer or Buyers’ agent to verify, if important. Sold “As-Is, Where-Is”


#3 ) Address:# 904 1412 ESQUIMALT AV, Ambleside, West Vancouver

April 05, 2012 V941415 $1,588,000 $0 0%
May 02, 2012 V941415 $1,498,000 $-90,000 -6%
May 17, 2012 V941415 $1,448,000 $-140,000 -9%
July 20, 2012 V941415 $1,388,000 $-200,000 -13%
October 01, 2012 V941415 removed after 179 days
October 11, 2012 V975783 $1,298,000 $-290,000 -18%
October 30, 2012 V975783 $1,198,000 $-390,000 -25%
December 03, 2012 V975783 removed after 53 days
December 05, 2012 V981852 $1,098,000 $-490,000 -31%
March 14, 2013 V981852 $998,000 $-590,000 -37%

v981852_1

Current Days on Market: 358 (0.98years)
Current ‘Official’ Days on Market: 114
2012 Assessment: $927,000
Desperation Score: 48.9

Down 37% in under a year and still over assessment

This south west corner penthouse offers spectacular views of the city, water and beyond. Features of this 2 level, 1,722 sq ft home include 2 bedrooms, den, loft library, and a huge view patio. Enjoy the entertainment sized rooms, perfect your guests to enjoy the incredible views. Also offering 2 bathrooms, a large kitchen, wood burning fireplace, insuite laundry and 2 car parking. Incredible potential in this large penthouse home just steps to all Ambleside’s amenities. A rare offering.


#2 ) Address:# 701 1762 DAVIE ST, West End, Vancouver West

June 13, 2010 V835647 $2,399,000 $0 0%
September 27, 2010 V835647 removed after 106 days
October 01, 2010 V852902 $2,299,000 $-100,000 -4%
December 31, 2010 V852902 removed after 91 days
January 07, 2011 V862201 $2,299,000 $-100,000 -4%
March 19, 2011 V862201 $1,895,000 $-504,000 -21%
July 01, 2011 V862201 removed after 175 days
May 05, 2012 V948048 $1,735,000 $-664,000 -28%
November 27, 2012 V948048 removed after 206 days
December 02, 2012 V981772 $1,535,000 $-864,000 -36%
February 16, 2013 V981772 $1,515,000 $-884,000 -37%
March 21, 2013 V981772 $1,499,000 $-900,000 -38%

v981772_1

Current Days on Market: 328 (0.90years)
Current ‘Official’ Days on Market: 117
2012 Assessment: $1,915,000
2011 Assessment: $1,934,000
Desperation Score: 24.1

“Balance of 2-10-10 warranty remains” – correct me if I’m wrong but I don’t think there is such thing as a 2-10-10 warranty, right?  This one is now over 20% below assessment and continues to drop like a rock.

LUXURY PENTHOUSE $400,000 BELOW ASSESSED VALUE! Own this impressive residence at the boutique O2 building. Contemporary design by Merrick Architecture & interior designer Alda Pereira bring light & magnificent ocean views into your living space. Top of the line European finishings throughout, from the engineered teak hardwood floors to the radiant in-ceiling heating & cooling system. Italian Dada kitchen system with industrial 6 pc appliance package. House size master bedroom features a large walk-in closet and a beautiful 5pc spa-like ensuite bathroom featuring marble counters, Basalt stone flrs & frameless showers – all awaiting you in this exceptionally valued residence. Balance of 2-10-10 warranty remains. 2 parking stalls.


#1 ) Address:# 202 8707 HUDSON ST, Marpole, Vancouver West

September 21, 2007 V669512 $259,900 $0 0%
October 06, 2007 V669512 $249,900 $-10,000 -4%
November 01, 2007 V669512 removed after 41 days
November 03, 2007 V676693 $239,900 $-20,000 -8%
November 07, 2007 V676693 removed after 4 days
May 03, 2010 V827114 $278,000 $0 0%
September 01, 2010 V827114 removed after 121 days
July 06, 2011 V897791 $297,000 $0 0%
September 13, 2011 V897791 $288,000 $-9,000 -3%
September 21, 2011 V897791 removed after 77 days
February 21, 2013 V991765 $199,500 $-97,500 -33%
March 27, 2013 V991765 $155,000 $-142,000 -48%

v991765_1

Current Days on Market: 36 (0.10years)
Current ‘Official’ Days on Market: 36
2012 Assessment: $209,100
2011 Assessment: $242,900
Desperation Score: 19.8

14% drop in assessment and now listed 35% below the 2011 assessment price

Superb location! Minutes to shopping, public transporation, airport & recreation facilities, laminate flooring, gas fireplace.

 

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Weekly Drop Metro Vancouver Detached – March 26, 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 3 weeks AND have dropped the largest percentage overall from their original asking price.

Spoiler: #1 has now dropped $10 million and 55% and yet is still horribly overpriced!


#10 ) Address:555 INGLEWOOD AV, Cedardale, West Vancouver

July 25, 2007 V660621 $1,135,000 $0 0%
September 26, 2007 V660621 $1,085,000 $-50,000 -4%
November 20, 2007 V660621 removed after 118 days
November 23, 2007 V678838 $1,049,000 $-86,000 -8%
January 29, 2008 V678838 removed after 67 days
January 18, 2012 V925985 $3,188,000 $0 0%
April 04, 2012 V925985 $3,088,000 $-100,000 -3%
May 08, 2012 V925985 removed after 111 days
May 11, 2012 V949526 $3,288,000 $0 0%
June 02, 2012 V949526 $2,880,000 $-408,000 -12%
September 24, 2012 V949526 removed after 136 days
September 27, 2012 V973687 $2,799,000 $-489,000 -15%
October 19, 2012 V973687 $2,488,000 $-800,000 -24%
March 05, 2013 V973687 removed after 159 days
March 14, 2013 V995438 $2,398,000 $-890,000 -27%

v995438_1

Current Days on Market: 436 (1.19years)
Current ‘Official’ Days on Market: 15
2012 Assessment: $1,585,000
2011 Assessment: Unfinished at time of assessment
Desperation Score: 36.7

This new build is now down almost $900K after 1.2 years on the market.  “custom built home completed in 2012 by a builder for himself”…  hmmm, why has it been listed all this time then?  Apparently “for himself” actually means “nobody bought it so I was forced to live in it for the past year”

Magnificent brand new 4 bedroom 5 bath architecturally designed custom built home completed in 2012 by a builder for himself (no HST) No expense spared, the quality of this home is amazing. Wonderful open plan for entertaining features include polished granite, hardwood floors, gorgeous European contemporary style kitchen with Miele appliances and Caesar stone counters, beautifully designed bathrooms, high quality mill work throughout with solid core fir doors and window frames, radiant floor heat powered by a high efficiency Viessman boiler and recessed lighting. This home located centrally in West Vancouver is very close to some of West Vancouver’s best schools, Park Royal Shopping and with easy access to downtown. Don’t wait to view this wonderful home. Open house March 17, 2-4


#9 ) Address:940 3RD ST, Cedardale, West Vancouver

October 17, 2009 V793350 $999,000 $0 0%
April 16, 2010 V793350 removed after 181 days
April 04, 2012 V940952 $1,950,000 $0 0%
April 28, 2012 V940952 $1,750,000 $-200,000 -10%
July 06, 2012 V940952 $1,680,000 $-270,000 -14%
August 01, 2012 V940952 removed after 119 days
January 13, 2013 V984847 $1,490,000 $-460,000 -24%
March 22, 2013 V984847 $1,400,000 $-550,000 -28%

v984847_1

Current Days on Market: 359 (0.98years)
Current ‘Official’ Days on Market: 75
2012 Assessment: $1,444,800
Desperation Score: 32.1

Decided to list it for double the 2009 price.  Now after $550K and 28% in drops they can proudly say that it is priced below assessment

Build your dream home on this massive 17,347 sq ft flat building lot. Conveniently located in family friendly Cedardale, minutes from Park Royal, Ambleside & Lions Gate Bridge. Existing home needs TLC. All measurements are approximate & should be verified if important. Priced below assessed value.


#8 ) Address:6988 DONALD RD, Granville, Richmond

January 07, 2012 V923931 $2,088,000 $0 0%
March 27, 2012 V923931 $1,890,000 $-198,000 -9%
July 06, 2012 V923931 removed after 181 days
August 18, 2012 V966947 $1,668,000 $-420,000 -20%
November 03, 2012 V966947 $1,598,000 $-490,000 -23%
March 07, 2013 V966947 removed after 201 days
March 13, 2013 V995180 $1,499,000 $-589,000 -28%

v995180_1

Current Days on Market: 447 (1.22years)
Current ‘Official’ Days on Market: 16
2012 Assessment: $1,686,000
2011 Assessment: $1,598,000
Desperation Score: 31.8

“BEST VALUE IN A MILLION $ HOME NEIGHBOURHOOD!”.  Listed about $200K below assessment after 1.2 years on the market

BEST VALUE IN A MILLION $ HOME NEIGHBOURHOOD! 2years new custom built home on a beautiful north/south facing corner lot. Spacious 3,559 sq ft luxurious living on a 7,630 sq ft lot with 4 bedrooms up and den, plus a 1 bedroom legal suite on the main. Functional layout with grand Foyer, high ceiling with beautiful crystal chandelier, bright and spacious Living Room, cross hall Dining, coffered ceiling, crown mouldings throughout, granite and hardwood flooring including stairs. Gourmet kitchen with Wok Kitchen, granite counters and stainless steel appliances. Large covered deck off Kitchen area, ideal for entertainment. Hot water radiant heating, HRV, central air-conditioning, steam shower, security system. 3 car garage with fully fenced yard and electric gate. Excellent location, close to Richmond Community Centre, Library, Richmond Shopping Centre, Hospital, Richmond High School (IB program) and transit. A pleasure to show!


#7 ) Address:3293 BAINBRIDGE AV, Government Road, Burnaby

June 13, 2012 V956010 $1,258,000 $0 0%
July 19, 2012 V956010 $1,090,000 $-168,000 -13%
October 01, 2012 V956010 removed after 110 days
October 06, 2012 V975355 $995,000 $-263,000 -21%
December 05, 2012 V975355 removed after 60 days
March 06, 2013 V994040 $900,000 $-358,000 -28%

v994040_1

Current Days on Market: 289 (0.79years)
Current ‘Official’ Days on Market: 23
2012 Assessment: $817,400
2011 Assessment: $817,500
Desperation Score: 31.5

“2 fireplaces cleaned in 2011″…  They forgot to mention they mopped the floors, mowed the lawn and trimmed a hedge.  “Potential rental income for the entire house is $4,550/month” – I call a giant sized BS on this one.  Interesting that they went through the work and expense of getting a building plan done but now have abandoned that project

HUGE 10,725 SQFT corner lot! A 2 level home situated on a quiet street in Government Road area! Build, rent or move in! Home is 2,766 SQFT with 3 beds up & 2 bathrooms, plus a games room and a large 2 bedroom suite down with 2 bathrooms. New Roof replaced in 2007, new paint throughout the house in 2010, basement renovations done in 2010, New Furnace in 2010, 2 fireplaces cleaned in 2011. Potential rental income for the entire house is $4,550/month ($3,300 upper + $1,250 down)……………….Approved sketch of building plan by the City available for 6,200 SF luxurious house w/3 car garage. Walk to Sperling Skytrain, easy access to SFU, Bentwood Mall & Lougheed Mall, Express Bus direct to Vancouver Downtown!


#6 ) Address:2937 PANORAMA DR, Deep Cove, North Vancouver

April 03, 2010 V819461 $799,000 $0 0%
June 30, 2010 V819461 removed after 88 days
July 07, 2010 V840436 $799,000 $0 0%
September 08, 2010 V840436 $769,000 $-30,000 -4%
September 21, 2010 V840436 $749,000 $-50,000 -6%
October 31, 2010 V840436 removed after 116 days
February 12, 2011 V868798 $748,000 $-51,000 -6%
August 23, 2011 V868798 $699,000 $-100,000 -13%
September 01, 2011 V868798 $688,000 $-111,000 -14%
September 01, 2011 V868798 removed after 201 days
September 28, 2011 V912510 $685,000 $-114,000 -14%
February 24, 2012 V912510 removed after 149 days
February 29, 2012 V934106 $685,000 $-114,000 -14%
May 28, 2012 V934106 removed after 89 days
May 31, 2012 V953591 $649,000 $-150,000 -19%
September 01, 2012 V953591 removed after 93 days
September 06, 2012 V969238 $598,000 $-201,000 -25%
November 17, 2012 V969238 $565,000 $-234,000 -29%
January 01, 2013 V969238 removed after 117 days
March 07, 2013 V994369 $565,000 $-234,000 -29%

v994369_1

Current Days on Market: 1091 (2.99years)
Current ‘Official’ Days on Market: 22
2012 Assessment: $554,900
Desperation Score: 24.5

3 years on the market for this “WATERFRONT” “WATERFRONT!” “Did I mention WATERFRONT?” home.  At least it “comescomes” with a boat which will depreciate even faster than the home.

Best WATERFRONT value on Indian Arm WATERFRONT! BOAT ACCESS ONLY! 10-15 minutes boat ride from Deep Cove marina. Comes fully furnished with a boat & private dock turn key! Looking for a vacation home or live full time this 2 bed, 2 bath private waterfront residence is breathtaking. The heating is propane which controls the washer/dryer, fridge & range. Redone in 2008 allows you the option to live here full time, with high speed internet & home phone, clean pure water from the flowing artesian well, private dock, comescomes FULLY FURNISHED WITH A BOAT turn key. Did I mention WATERFRONT?


#5 ) Address:39 JOHNSON BY, Indian Arm, North Vancouver

February 18, 2011 V870054 $2,285,000 $0 0%
January 01, 2012 V870054 removed after 317 days
March 14, 2012 V936863 $1,998,000 $-287,000 -13%
July 17, 2012 V936863 $1,598,000 $-687,000 -30%
January 01, 2013 V936863 removed after 293 days
March 27, 2013 V997591 $1,598,000 $-687,000 -30%

v997591_1

Current Days on Market: 770 (2.11years)
Current ‘Official’ Days on Market: 2
2012 Assessment: $530,700
Desperation Score: 21.3

“Indian Arm’s most desirable property is now available!”… for the last 2 years… for triple assessment…

Indian Arm’s most desirable property is now available! This 5 acre legacy estate features approx 1200 ft of waterfront with a well built 2500 sq ft home and guest suite. Incredible setting with easy access to the city.A mere 15 minutes by boat from Deep Cove, North Van yet you feel like you could be in one of the most remote areas of B.C. Live off the grid with your own hydro power supply and enjoy an incredible self sufficient, environmentally friendly lifestyle. This would be a fabulous family, multi family, group, or organizational/retreat purchase. Many extras included with separate suite, workshop, powerstation, solid large dock and boat lift. Many walking trails and vistas to explore. Truly paradise!


#4 ) Address:4528 STEVESTON HY, Steveston South, Richmond

August 12, 2011 V904639 $1,339,000 $0 0%
August 16, 2011 V904639 removed after 4 days
August 24, 2011 V906340 $1,339,000 $0 0%
December 26, 2011 V906340 removed after 124 days
January 13, 2013 V985023 $1,028,000 $-311,000 -23%
January 31, 2013 V985023 $998,000 $-341,000 -25%
March 07, 2013 V985023 $899,000 $-440,000 -33%

v985023_1

Current Days on Market: 75 (0.21years)
Current ‘Official’ Days on Market: 75
2012 Assessment: $889,000
2011 Assessment: $902,000
Desperation Score: 33.7

They tried selling it for $1.339 million in 2011 – can anyone confirm whether they sold this or not or was this potentially a land deal where they split the initial lot into 2 new homes?

Beautiful like NEW HOME in a great neighbourhood. This 5 bedroom, 5 bath home comes loaded with everything including stainless steel appliances, Maple Kitchen Cabinets with slow closing Drawers and doors, Granite and Marble counters throughout & Faux MARBLE floors w/Luxurious Carpet Accent. This plan offers 2 FULL bathrooms upstairs with 3 good sized bedrooms. A stone’s throw from all levels of schools including famed WESTWIND ELEMENTARY all sorts of shopping in HISTORIC STEVESTON VILLAGE, 2 minute walk to bus routes. Bonus: this home has a legal suite for good rental income or for extended family. Comes w/balance of 2-5-10 warranty for peace of mind. Built by Richmond’s Finest Infinity Living Inc. This Home is a must see!


#3 ) Address:5212 GRANVILLE ST, Shaughnessy, Vancouver West

August 20, 2011 V906021 $3,780,000 $0 0%
November 08, 2011 V906021 removed after 80 days
November 10, 2011 V919181 $2,995,000 $-785,000 -21%
February 29, 2012 V919181 removed after 111 days
March 04, 2012 V935126 $2,688,000 $-1,092,000 -29%
September 02, 2012 V935126 removed after 182 days
September 08, 2012 V969787 $2,498,000 $-1,282,000 -34%
December 01, 2012 V969787 removed after 84 days
December 05, 2012 V981817 $2,378,000 $-1,402,000 -37%
March 27, 2013 V981817 $2,498,000 $-1,282,000 -34%

v981817_1

Current Days on Market: 587 (1.61years)
Current ‘Official’ Days on Market: 114
2012 Assessment: $1,718,500
2011 Assessment: $1,786,800
Desperation Score: 28.8

Can’t sell it for a year and a half so they raise the price by $120K and 45% OVER assessment.  “very quiet” – yeah, that’s because nobody lives in Shaughnessy any more!!!  Just a bunch of empty homes being flipped for millions more than the previous flip – well until now.

UPPER SHAUGHNESSY BARGAIN! 822 sq. ft. garage for 4 cars plus storage. 3791 sq. ft. picturesque family home with all the bells and whistles. Formal living & dining room with Strauss crystal chandelier. 5 large bedrooms. with 2 masterensuites. Den large recreation room, family room & bar. 2 gas fireplaces. 31/2 delux baths with 2 desirable jacuzzi tubs. Central air conditioning, wall to wall carpeting & Carrara marble throughout. Sat. & cable TV. Elegant crown and floor moulding. Built-in vacuum & security system. White rock & concrete exterior. Low overhead & very quiet. Beautiful gardens & in-ground sprinkler system. Walk to private & public schools. Corner lot 70’X 145′ NOW!OPEN SAT. MAR. 23rd 2-4 PM


#2 ) 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%
March 05, 2013 V976180 removed after 144 days
March 22, 2013 V997055 $1,150,000 $-699,000 -38%

v997055_1

Current Days on Market: 168 (0.46years)
Current ‘Official’ Days on Market: 7
2012 Assessment: $1,081,000
2011 Assessment: $1,045,000

Last Sale: $1,070,000 on July/2011 
Total Profit IF sold for list price: 62,200 transaction costs and 80,000 profit on sale = PROFIT of $17,800

Desperation Score: 48.1

They buy this place for $1.07 million and then a year later list it for $1.849 million.  The morons are now down to $1.15 million and ideally they won’t sell it for over a million so that this leaves a nice large dent in their net worth.  I have absolutely no empathy for people like this.

Not to be missed! Don’t let address fool you! Quiet, serene section of Marine Dr. Huge house, huge lot, great layout and scheme. Hardwood on main, custom kitchen w/ stainless steel appliances, granite counters, custom cabinets overlooking large dining area and backyard. Large bedrooms, ensuites, cozy living area. Private, park-like setting yard. RV parking available. All amenities within reach, all in Burnaby! Can’t beat it! Bonus – 2 separate self contained mortgage helpers! All meas approx and to be verified. Call Ken for your personal tour.

 


#1 ) Address:2888 PANORAMA DR, Deep Cove, North Vancouver

July 11, 2010 V841549 $17,900,000 $0 0%
June 07, 2011 V841549 removed after 331 days
June 09, 2011 V892989 $14,900,000 $-3,000,000 -17%
November 01, 2011 V892989 $12,998,000 $-4,902,000 -27%
April 24, 2012 V892989 $10,998,000 $-6,902,000 -39%
August 22, 2012 V892989 $8,990,000 $-8,910,000 -50%
December 02, 2012 V892989 removed after 542 days
December 10, 2012 V982221 $8,990,000 $-8,910,000 -50%
March 23, 2013 V982221 $7,990,000 $-9,910,000 -55%

v982221_1

Current Days on Market: 992 (2.72years)
Current ‘Official’ Days on Market: 109
2012 Assessment: $6,130,000
2011 Assessment: $5,947,000
Desperation Score: 36.4

Down $10 million and 55% yet still 30% OVER assessment!!!  Welcome to the best place on earth

This magnificent WF estate on over 1/2 acre above Indian Arm’s most dramatic cliff & rock formations. This res is wrapped in 270 degrees of coastline vws. Exquisitely crafted, taking 6 painstaking yrs to perfect offering 12,922 sqft w/milled beams, slate roof, crafted w’dwork, natural stone & hardw’ds, vaulted ceilings, timber & steel beam constr, stone FP’s, Chef’s kit w/breakfast bar, EA, adj FR, grand DR priv study. Kids paradise down w/custom I/D bsketb’ll ct, state-of-the-art theatre, fabulous billiard rm w/wet bar, games rm w/professional dart board & air hockey arena. Most incredible hidden passage to a Old World wine cellar & guest accomm. BBQ centre, manicured lawns/gardens & OD F/P. A stunning work of art!

Weekly Drop Suburbs – March 25, 2013

And we’re back!  Still playing around with the format after this break – will probably alternate between the standard 3 weekly drops one week and then desperation meter the next but we’ll see how it goes.

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 3 weeks AND have dropped the largest percentage overall from their original asking price.


#10 ) Address:# 205 B 2020 LONDON LN, Whistler, Whistler/Pemberton

March 09, 2012 V919666 $84,900 $0 0%
May 04, 2012 V919666 $69,900 $-15,000 -18%
September 13, 2012 V919666 $59,900 $-25,000 -29%
February 20, 2013 V919666 $57,900 $-27,000 -32%
March 23, 2013 V919666 $49,000 $-35,900 -42%

v919666_11

Current Days on Market: 383 (1.05years)
Current ‘Official’ Days on Market: 383
2012 Assessment: $62,825
2011 Assessment: $75,000
Desperation Score: 19.7

Currently listed almost 35% BELOW the 2011 assessment and the 2012 assessment came in at 16% BELOW the previous year

Talk about a contemporary design in a fantastic location! Evolution checks all the boxes when you’re seeking a modern suite which offers great owner usage. You have access to all the amenities you could want, from a movie theatre and games room to hot tubs and pool with a view. Whether you’re spending quality time with the family or entertaining friends, everyone’s sure to have a great time.


#9 ) Address:22183 CLIFF AV, West Central, Maple Ridge

August 22, 2010 V846978 $700,000 $0 0%
December 02, 2010 V846978 $600,000 $-100,000 -14%
February 22, 2011 V846978 $429,000 $-271,000 -39%
March 03, 2012 V846978 $399,900 $-300,100 -43%
July 06, 2012 V846978 removed after 684 days
July 13, 2012 V961729 $429,000 $-271,000 -39%
December 29, 2012 V961729 removed after 169 days
February 03, 2013 V988340 $429,000 $-271,000 -39%
March 06, 2013 V988340 $399,900 $-300,100 -43%

v988340_11

Current Days on Market: 948 (2.60years)
Current ‘Official’ Days on Market: 52
2012 Assessment: $383,000
Desperation Score: 15.6

Looks like they expected that the rezoning in 2010 made their property worth double assessment but they quickly dropped 43% without a sale.  Relisted in 2012 at a higher price and then pulled the listing half a year later.  Came back in 2013 at that same higher price before dropping slightly.  I don’t believe this one is remotely close to where it would sell for in case the 2.6 years on the market wasn’t a good enough hint.

C-3 zoned property. Presently rented. Build office, 4-plex or combination of both. Possible river views from upper floors.


#8 ) Address:29488 58TH AV, Bradner, Abbotsford

October 08, 2010 F1025353 $6,900,000 $0 0%
September 06, 2011 F1025353 removed after 333 days
September 10, 2011 F1122636 $5,800,000 $-1,100,000 -16%
January 31, 2012 F1122636 $4,500,000 $-2,400,000 -35%
March 31, 2012 F1122636 removed after 203 days
April 09, 2012 F1208670 $4,100,000 $-2,800,000 -41%
August 31, 2012 F1208670 removed after 144 days
September 12, 2012 F1222747 $4,100,000 $-2,800,000 -41%
March 13, 2013 F1222747 $3,888,000 $-3,012,000 -44%

f1222747_11

Current Days on Market: 901 (2.47years)
Current ‘Official’ Days on Market: 196
2012 Assessment: $3,754,000
Desperation Score: 28.4

This is one of the largest homes in Canada at 44 THOUSAND square feet… no that is not the lot size, that is finished square footage!  The price is down over $3 million in the 2.5 years it has been listed and at its current price it is under $90/sqft not including the very significant land size.  A previous description indicated that the current owner put $15 million into the home and that it had been assessed by a bank for over $13 million.  For the last 6 months they haven’t even bothered to include a description…  For anyone looking for a 44 thousand square foot home this has got to be one of the better deals on the planet.


#7 ) Address:35995 EAGLECREST PL, Abbotsford East, Abbotsford

July 11, 2009 F2915400 $450,000 $0 0%
January 17, 2010 F2915400 removed after 190 days
January 19, 2010 F1001392 $450,000 $0 0%
July 18, 2010 F1001392 removed after 180 days
September 27, 2010 F1024539 $425,000 $-25,000 -6%
September 01, 2011 F1024539 removed after 339 days
September 03, 2011 F1122147 $380,000 $-70,000 -16%
October 07, 2011 F1122147 $370,000 $-80,000 -18%
October 27, 2011 F1122147 $365,000 $-85,000 -19%
November 18, 2011 F1122147 $360,000 $-90,000 -20%
December 08, 2011 F1122147 removed after 96 days
February 03, 2013 F1302591 $265,000 $-185,000 -41%
March 10, 2013 F1302591 $249,000 $-201,000 -45%

f1302591_11

Current Days on Market: 52 (0.14years)
Current ‘Official’ Days on Market: 52
2012 Assessment: $347,000
Desperation Score: 19.8

Currently listed 30% BELOW assessment

Builders & Investors Alert! Mountain Village 1.75 acre building site with Mt Baker and Valley view. Build your dream home here (yes there is plenty of room for a shop) just a few minutes to the Whatcom Road Exit. We have plans available or uild exactly what you have always wanted! * PREC – Personal Real Estate Corporation


#6 ) Address:12142 287TH ST, Northeast, Maple Ridge

July 10, 2010 V840966 $1,599,000 $0 0%
November 10, 2010 V840966 $1,095,000 $-504,000 -32%
February 01, 2011 V840966 removed after 206 days
February 03, 2011 V866939 $975,000 $-624,000 -39%
March 23, 2011 V866939 removed after 48 days
May 14, 2012 V950147 $1,349,900 $-249,100 -16%
July 06, 2012 V950147 $1,299,900 $-299,100 -19%
September 19, 2012 V950147 $1,199,900 $-399,100 -25%
October 15, 2012 V950147 removed after 154 days
October 17, 2012 V976812 $969,500 $-629,500 -39%
January 07, 2013 V976812 removed after 82 days
March 07, 2013 V994284 $875,000 $-724,000 -45%

v994284_11

Current Days on Market: 317 (0.87years)
Current ‘Official’ Days on Market: 20
2012 Assessment: $1,020,000
2011 Assessment: $1,030,000
Desperation Score: 38.5

Interesting yo-yo price history on this one

OPPORTUNITY! 6300 sq ft home on 5.004 Ac with gated entrance & winding driveway to private setting. Has 4 bedrooms (all with ensuite) 6 bathrooms in total (his & hers ensuites in master suite), 3 bay garage & attached workshop, large covered deck. Open plan with huge kitchen (granite countertops), Hot water radiant heat + air exchange system. Measurements are approximate and should be verified by the Buyers if important to them.


#5 ) Address:34869 FERNDALE AV, Durieu, Mission

April 25, 2007 F2709823 $4,950,000 $0 0%
August 21, 2007 F2709823 $4,575,000 $-375,000 -8%
January 16, 2008 F2709823 removed after 266 days
March 14, 2008 F2806415 $5,188,888 $0 0%
March 26, 2008 F2806415 removed after 12 days
May 27, 2009 F2911297 $3,675,000 $-1,513,888 -29%
November 02, 2009 F2911297 removed after 159 days
November 06, 2009 F2925347 $3,675,000 $-1,513,888 -29%
March 30, 2010 F2925347 $3,475,000 $-1,713,888 -33%
November 01, 2010 F2925347 removed after 360 days
January 26, 2011 F1101880 $3,195,000 $-1,993,888 -38%
June 03, 2011 F1101880 removed after 128 days
June 08, 2011 F1114820 $2,980,000 $-2,208,888 -43%
October 01, 2011 F1114820 removed after 115 days
December 22, 2011 F1129441 $2,980,000 $-2,208,888 -43%
July 02, 2012 F1129441 removed after 193 days
September 11, 2012 F1222593 $2,995,000 $-2,193,888 -42%
March 23, 2013 F1222593 $2,748,000 $-2,440,888 -47%

f1222593_11

Current Days on Market: 1400 (3.84years)
Current ‘Official’ Days on Market: 197
2012 Assessment: $1,871,000
Desperation Score: 15.8

This home is actually pretty incredible if you are looking for a high end estate home in Mission.  Listing price is still out of touch with assessment even after a close to 50% drop and almost 4 years on market

The most incredible view home in B.C. on 5+ acres with panoramic views of Mt. Baker, Fraser River, Westminster Abbey. Absolutely stunning West Coast home. Entertain & fascinate your guests. This home features the finest workmanship with stunning gourmet kitchen loaded with all the extras imaginable. Granite/sandstone/marble/slate, walls, counters & floors thru out the three levels of living. Full spa w/steam room, slate rain shower (9 shower heads) and full gym with equipment. Master bedroom is sensational with fireplace, huge organized closet, special ensuite & laundry room. Fantastic architectural features, Infinity pool with waterfall, built in/hot tub and huge viewing decks.


#4 ) Address:1320 ZENITH RD, Squamish, Squamish

February 03, 2013 V988786 $575,000 $0 0%
March 19, 2013 V988786 removed after 44 days
March 25, 2013 V997458 $299,000 $-276,000 -48%

v997458_11

Current Days on Market: 52 (0.14years)
Current ‘Official’ Days on Market: 2
2012 Assessment: $524,000
Desperation Score: 20.9

This is not a typo or switched unit – I checked the descriptions and details to confirm.  48% in one shot just a month and a half after first listing the unit!  They even say “Priced for a quick sale!!!!!!!! & no, there is nothing wrong with the building.”.  Over 40% BELOW assessment on this new showhome unit.  How about the people that purchased the other units!  They can’t be impressed…

This note from BailingInBC: The same owners have also listed this property –http://www.realtor.ca/propertyDetails.aspx?propertyId=12967987&PidKey=-1112849272 Assessed at $839k, listed for $499k. They appear to be looking to create bidding wars.

Priced for a quick sale!!!!!!!! & no, there is nothing wrong with the building. Beautiful SHOW HOME showcasing a covered entrance with impressive foyer to greet your special guest. Expensive & elegant crown molding with glowing lights forthose special, relaxing evenings beside a cozy gas fireplace listening to your favorite music through a build in surround sound system. Main floor living area includes custom chefs kitchen with espresso wood cabinets, stylish wall title, stainless appliances, upgraded radiant heated floors and posh modern style carpet in bedrooms. This gorgeous, spacious and bright , 4 bedroom 1/2 Duplex Home comes with beautiful mountain views & is located on a quiet Street in Sunny Brackendale. Don’t miss it!


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

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%
January 18, 2013 F1227769 $842,900 $-747,100 -47%
February 15, 2013 F1227769 $832,900 $-757,100 -48%
March 19, 2013 F1227769 $815,900 $-774,100 -49%

f1227769_11

Current Days on Market: 713 (1.95years)
Current ‘Official’ Days on Market: 125
2012 Assessment: $1,029,000
2011 Assessment: $1,052,000
Desperation Score: 41.0

Listed for almost 2 years and now 20% BELOW assessment

Waterford Penthouse! An opportunity to enjoy south facing ocean view from this one of a kind 2000 + sqft, 3 bedroom/3 bath + den unit in concrete & steel framed condo. Bright & spacious open design featuring hardwood floors, kitchen 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.


#2 ) Address:14120 TRITES RD, Panorama Ridge, Surrey

February 12, 2012 F1203674 $1,980,000 $0 0%
March 22, 2012 F1203674 removed after 39 days
March 23, 2012 F1207274 $1,189,900 $-790,100 -40%
June 23, 2012 F1207274 $1,139,000 $-841,000 -42%
August 02, 2012 F1207274 removed after 132 days
August 04, 2012 F1220063 $1,089,000 $-891,000 -45%
September 27, 2012 F1220063 $1,039,000 $-941,000 -48%
November 17, 2012 F1220063 $999,000 $-981,000 -50%
December 31, 2012 F1220063 removed after 149 days
January 13, 2013 F1300826 $949,000 $-1,031,000 -52%
March 13, 2013 F1300826 $899,000 $-1,081,000 -55%

f1300826_11

Current Days on Market: 409 (1.12years)
Current ‘Official’ Days on Market: 73
2012 Assessment: $1,003,000
2011 Assessment: $1,017,000
Desperation Score: 49.6

This potential VancouverPriceDrop hall of famer has now had 7 price drops totalling 55% in the past year

PANORAMA RIDGE – Private Estate – 5191 SQFT, 1.41 ACRE – 2 Storey w/Basement. Great STREET APPEAL. Situated on a very private, treed road. Spacious floor plan with 20′ vaulted ceilings in both family & living room (features grand stone fireplace), hardwood & tile flooring througout main. Large ‘gourmet’ kitchen + additional spice kitchen & large W/I pantry. Up – Large Master with private patio, full ensuite & soaker tub, an additional 4 oversized bedrooms are also located upstairs. Down – is currently partially finished, potential for optional media/recreation and/or gym. Back – features a very private view of the valley + densely treed location. Call now to arrange a viewing. * PREC – Personal Real Estate Corporation


#1 ) Address:3791 MURPHY ST, Central Abbotsford, Abbotsford

August 31, 2007 F2722498 $4,200,000 $0 0%
December 24, 2007 F2722498 removed after 115 days
June 19, 2008 F2818444 $3,250,000 $-950,000 -23%
August 27, 2008 F2818444 removed after 69 days
September 06, 2008 F2825703 $2,700,000 $-1,500,000 -36%
March 02, 2009 F2825703 removed after 177 days
March 16, 2013 F1305889 $1,899,000 $-2,301,000 -55%

f1305889_11

Current Days on Market: 11 (0.03years)
Current ‘Official’ Days on Market: 11
2012 Assessment: Farmland
Desperation Score: 21.4

Seems like these owners have been fishing for something for the last 6 years.  Potentially there could have been a sale at some point but it is doubtful given the listing history

Don’t miss this incredible opportunity to purchase this beautiful custom home on 9.5 acres close to residential development. Enjoy 4500 sqft of a quality ‘Builders Own’ home (Unique Homes Inc) while you wait for possible future development to come to you. Large 4000 sqft shop with 3 phase power. This 2 storey plus basement home had a major updated in 2002 with hardwood floor throughout, chefs dream kitchen with silestone counters. Large level yard for both parking vehicles and entertaining in the back with a bonus sport court. Lots of great water supplied from the well. You will love this location, private yet close to town.


 

Desperation Meter – March 13, 2013

I’m shaking things up a little bit and instead of the 3 weekly price drop reports I’m going to post a weekly “Desperation Meter” top 20.  The formula attempts to determine the level of desperation for a particular home by looking at price drops and relistings and weighting them based on the size of the drop and how recently it happened.

  • White Rock, Surrey, Richmond and Vancouver West all make the list 3 times with North Vancouver and West Vancouver appearing twice each
  • 6 of the homes on the list are new builds
  • 10 of the 19 homes with assessment data are currently priced under assessment
  • No attached properties made the top 20 but plenty are littering the top 50

UPDATE: MORE LIES!!!  Take a look at #6 in Panorama Ridge with the address 12958 COULTHARD RD.  They claim in their description that it is currently rented for $6500/month and that the renter could stay after sale.  I even commented in the Weekly Drop on February 25th that I was surprised that it had been rented out at such a high amount (despite this still being a poor CAP rate basically anywhere else in the world).  Well check out Craigslist where it is still there, where it has been pretty much constantly for at least a year asking for $4750/month.  Buyer beware!


#20 ) Address:16728 86TH AV, Fleetwood Tynehead, Surrey

March 13, 2007 F2704369 $798,500 $0 0%
July 10, 2007 F2704369 removed after 119 days
February 07, 2012 F1203015 $974,900 $0 0%
March 16, 2012 F1203015 removed after 38 days
June 25, 2012 F1216499 $925,000 $-49,900 -5%
November 01, 2012 F1216499 removed after 129 days
November 04, 2012 F1226835 $899,000 $-75,900 -8%
December 09, 2012 F1226835 removed after 35 days
December 10, 2012 F1228551 $889,000 $-85,900 -9%
January 04, 2013 F1228551 $859,000 $-115,900 -12%
January 18, 2013 F1228551 $839,000 $-135,900 -14%
February 07, 2013 F1228551 $809,000 $-165,900 -17%
February 22, 2013 F1228551 $789,000 $-185,900 -19%
March 02, 2013 F1228551 $769,000 $-205,900 -21%

f1228551_11

Current Days on Market: 401 (1.10years)
Current ‘Official’ Days on Market: 94
2012 Assessment: $752,000
2011 Assessment: $731,000
Desperation Score: 39.7

5 price drops already in 2013 and currently listed for over a year earn this home a spot in the top 20

2 STOREY WITH FULL BASEMENT 4900+ SQ.FT. HOME WITH SUITE! Located in a great area, near all amenities. The yard is .20 acre, all useable. The basement has a full suite with 3 bedrooms, a living room, rec room, laundry, and 2 full baths. The main floor has hardwood and granite and wood cabinets and high ceilings. It’s an island kitchen, and there’s a butler pantry with stove area. Upstairs are 2 master bedrooms with full ensuites, 2 other bedrooms and another full bathroom. The home is in excellent condition. * PREC – Personal Real Estate Corporation


#19 ) Address:3256 W KING EDWARD AV, MacKenzie Heights, Vancouver West

February 02, 2011 V866506 $1,698,000 $0 0%
February 09, 2011 V866506 removed after 7 days
March 10, 2012 V936503 $3,880,000 $0 0%
March 22, 2012 V936503 $3,580,000 $-300,000 -8%
June 01, 2012 V936503 removed after 83 days
June 11, 2012 V955839 $3,388,000 $-492,000 -13%
July 05, 2012 V955839 $3,288,000 $-592,000 -15%
August 29, 2012 V955839 $2,998,000 $-882,000 -23%
October 26, 2012 V955839 removed after 137 days
October 31, 2012 V978509 $3,188,000 $-692,000 -18%
January 01, 2013 V978509 removed after 62 days
January 13, 2013 V984863 $3,168,000 $-712,000 -18%
February 13, 2013 V984863 $2,999,000 $-881,000 -23%

v984863_11

Current Days on Market: 369 (1.01years)
Current ‘Official’ Days on Market: 60
2012 Assessment: $3,004,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 40.0

New build has been listed for over a year and is already below assessment after close to $900K and 23% in drops.  The owners tried the brilliant move of increasing the price of their lonely home by $200K during a horrible market and after a couple of drops are actually still $1K higher than the previous low price.  Sorry to break it to you but if it didn’t sell for $3 million in August then there is no way it will sell for even $2.7 million today.  Even with this dramatic drop in price they still have plenty of profit room although by the time it sells I doubt it will break even.

Truly spectacular quality built character home in prestigious MacKenzie Heights location! This stunning home simply offers full attention to supreme finishing & details of craftsmanship, give you feelings of elegant & luxury high end modern living. Almost 4300 sf, high ceilings, quality H/W fls thru-out, gourmet kit w/ wok kit, top of the line Viking appls & cabinetry, A/C, HRV, full entertaining features with wet bar, wine cellar, media room, sauna & steam in bsmt, huge south exposure covered deck, park-like garden, close to Prince of Wales Secondary School, Kitchener Elem School, St. George’s, York House, Crofton House private schools, UBC & transit.


#18 ) Address:6260 SEMLIN CT, Terra Nova, Richmond

August 05, 2007 V662471 $1,180,000 $0 0%
August 24, 2007 V662471 $1,150,000 $-30,000 -3%
December 21, 2007 V662471 removed after 138 days
December 29, 2007 V681738 $1,150,000 $-30,000 -3%
February 11, 2008 V681738 removed after 44 days
October 01, 2010 V852818 $1,329,000 $0 0%
October 12, 2010 V852818 removed after 11 days
July 27, 2011 V901928 $1,688,000 $0 0%
November 30, 2011 V901928 removed after 126 days
December 15, 2011 V922410 $1,588,000 $-100,000 -6%
March 09, 2012 V922410 removed after 85 days
March 28, 2012 V939639 $1,533,000 $-155,000 -9%
April 17, 2012 V939639 $1,498,000 $-190,000 -11%
June 19, 2012 V939639 removed after 83 days
June 21, 2012 V957748 $1,438,000 $-250,000 -15%
August 21, 2012 V957748 $1,398,000 $-290,000 -17%
October 01, 2012 V957748 removed after 102 days
October 04, 2012 V974979 $1,377,000 $-311,000 -18%
November 09, 2012 V974979 removed after 36 days
January 06, 2013 V983852 $1,398,000 $-290,000 -17%
February 28, 2013 V983852 $1,270,000 $-418,000 -25%

v983852_11

Current Days on Market: 596 (1.63years)
Current ‘Official’ Days on Market: 67
2012 Assessment: $1,438,000
2011 Assessment: $1,631,000
Desperation Score: 40.2

Pulled the home in October and then relisted for more in January despite being listed for over a year and a half!  Currently listed for over 20% BELOW their 2011 assessment and their 2012 assessment dropped by 12%.  “Quiet cul-de-sac location” – except when the planes fly by every 48 seconds…

Quality home by Penta Homes with 9′ ceilings, 5 bedrooms, 4 baths, hardwood floor, maple cabinets, high end stainless steel appliances, granite countertops, inground sprinkler system. Quiet cul-de-sac location. Very well kept as new. Price under 2013 assessment.


#17 ) Address:2982 161A ST, Grandview Surrey, White Rock

February 23, 2012 F1204404 $3,288,000 $0 0%
May 02, 2012 F1204404 $2,999,000 $-289,000 -9%
July 31, 2012 F1204404 $2,899,000 $-389,000 -12%
September 01, 2012 F1204404 $2,799,000 $-489,000 -15%
October 03, 2012 F1204404 removed after 223 days
October 25, 2012 F1226197 $2,799,000 $-489,000 -15%
January 19, 2013 F1226197 $2,499,000 $-789,000 -24%
March 12, 2013 F1226197 $2,299,000 $-989,000 -30%

f1226197_11

Current Days on Market: 385 (1.05years)
Current ‘Official’ Days on Market: 140
2012 Assessment: $2,567,000
2011 Assessment: $2,409,000
Desperation Score: 40.3

A $1 million price drop and 30% in just a year for this south surrey home.  Imagine how much money their greed has cost them!  Higher end homes in south surrey were actually selling last spring and early summer – I doubt they would have had much of a problem getting $2.5 million back then but they were priced at $3 million+ at the time.

AMAZING OPPORTUNITY–SUPER PRICE! Prestigious MORGAN ACRES, custom GRAND RESIDENCE on huge 31,000 sf lot. Hosting 6 Beds/2 Dens/8 Baths within the 9,250 sf in two storey with fully finished walk out basement! Two MASTER RETREATS (one Master on Main); Granite Chef’s kitchen plus WOK KITCHEN; fabulous massive entry hall; every bdrm boasts its own granite ensuite; bsmt level exclusively finished; lovely wrap around 500 sf covered verandah with mtn views; tripple garage & secure RV or Boat parking; Air conditioned, of course! This one of a kind home is nestled high above in an excl. neighbohood and conveniently located close to Southridge School, the Grandview ‘hub’ shops, transit, & freeway! R/I for pool! BELOW ASSESMENT * PREC – Personal Real Estate Corporation


#16 ) Address:967 ROSLYN BV, Dollarton, North Vancouver

February 26, 2012 V933878 $3,750,000 $0 0%
March 27, 2012 V933878 $3,690,000 $-60,000 -2%
April 18, 2012 V933878 $3,288,000 $-462,000 -12%
May 16, 2012 V933878 $2,980,000 $-770,000 -21%
June 15, 2012 V933878 $2,750,000 $-1,000,000 -27%
July 25, 2012 V933878 removed after 150 days
August 10, 2012 V965789 $2,690,000 $-1,060,000 -28%
January 03, 2013 V965789 removed after 146 days
February 15, 2013 V990537 $2,388,000 $-1,362,000 -36%

v990537_11

Current Days on Market: 382 (1.05years)
Current ‘Official’ Days on Market: 27
2012 Assessment: $2,255,000
2011 Assessment: $1,840,000
Desperation Score: 40.4

Assessment went up over 20% this past year but this home is now down $1.4 million and 35% from its ridiculous high asking price from a year ago.  Initial price was over double its assessment!!!  “Priced well below replacement cost” so using some math that would mean previously it was priced $1.3 million+ OVER replacement price… for a brand new version of the home…  I wonder why it didn’t sell?

This home has everything! Located a short walk from the oceanside, this custom built home occupies a sunny 1/3 acre private lot with water views. Featuring over 5,000 sqft, this 7 bedroom dream home has everything including; theatre, entertainment sized gourmet chef’s kitchen, 2 bedroom suite, swimming pool with fireplace and waterfalls, Koi pond, large flat backyard with gorgeous waterfalls. This is the perfect family home and it won’t last long. Priced well below replacement cost, this incredible value and outstanding lifestyle on the North Shore!


#15 ) Address:7306 CLOVER RD, Pemberton, Whistler/Pemberton

March 09, 2012 V901344 $797,000 $0 0%
April 20, 2012 V901344 $849,000 $0 0%
June 30, 2012 V901344 removed after 113 days
July 22, 2012 V963403 $799,000 $-50,000 -6%
August 31, 2012 V963403 $719,000 $-130,000 -15%
September 24, 2012 V963403 removed after 64 days
September 26, 2012 V973469 $694,000 $-155,000 -18%
October 21, 2012 V973469 $669,000 $-180,000 -21%
November 07, 2012 V973469 $649,000 $-200,000 -24%
November 22, 2012 V973469 $619,000 $-230,000 -27%
December 10, 2012 V973469 $604,000 $-245,000 -29%
December 18, 2012 V973469 $594,000 $-255,000 -30%
February 01, 2013 V973469 $579,000 $-270,000 -32%

v973469_11

Current Days on Market: 370 (1.01years)
Current ‘Official’ Days on Market: 169
2012 Assessment: $790,800
2011 Assessment: $1,002,000
Desperation Score: 41.5

Assessment down over 20% this past year and still priced 25% BELOW the new assessment and over 40% BELOW the 2011 assessment…  “This is a court ordered sale”

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


#14 ) Address:2688 CRESCENT DR, Crescent Beach/Ocean Park, White Rock

June 21, 2008 F2818635 $1,799,500 $0 0%
August 12, 2008 F2818635 $1,689,500 $-110,000 -6%
October 09, 2008 F2818635 $1,629,500 $-170,000 -9%
November 17, 2008 F2818635 removed after 149 days
March 11, 2009 F2904712 $1,388,000 $-411,500 -23%
May 06, 2009 F2904712 $1,299,000 $-500,500 -28%
August 04, 2009 F2904712 removed after 146 days
July 20, 2012 F1218804 $2,488,000 $0 0%
August 01, 2012 F1218804 $2,399,000 $-89,000 -4%
August 11, 2012 F1218804 $2,380,000 $-108,000 -4%
September 21, 2012 F1218804 $2,188,000 $-300,000 -12%
October 19, 2012 F1218804 $2,088,000 $-400,000 -16%
October 26, 2012 F1218804 $1,998,000 $-490,000 -20%
November 15, 2012 F1218804 $2,148,000 $-340,000 -14%
February 19, 2013 F1218804 $2,088,000 $-400,000 -16%
February 28, 2013 F1218804 $1,998,000 $-490,000 -20%

f1218804_11

Current Days on Market: 237 (0.65years)
Current ‘Official’ Days on Market: 237
2012 Assessment: $1,734,000
2011 Assessment: $1,654,000
Desperation Score: 42.2

“2 stoerys”  Initially priced at over 50% ABOVE assessment but working its way down.  Recently increased the price by $150K and just now back to the previous low price point.

CRESCENT HEIGHTS. Gated estate on 29,272 sqft lot. Charming home w/ 2 stoerys & full basement – 5,624 sqft. 4 beds all w/ walk-in closets, 4 baths, den & games room. Quality finishing’s hardwood floors, stain glass windows & more. Recent updates to kitchen w/cherry wood cabinets, stainless app., granite, plus large eating area overlooking backyard. Master suite w/sitting room & f/p. Full bsmt, partially finished w/separate entry, bdrm, bathrm & games – unfinished area for gym, wine cellar, etc. Private Southeast yard w/ pool, courtyard & beautiful gardens. Other updates include roof w/European gutters, downpipes & gutter box’s. One of the Peninsula’s best kept secrets “Crescent Drive” perched above Crescent Beach.


#13 ) Address:2 GROSVENOR AV, Capitol Hill, Burnaby

August 30, 2012 V968525 $1,295,000 $0 0%
September 20, 2012 V968525 $1,195,000 $-100,000 -8%
November 03, 2012 V968525 $1,098,000 $-197,000 -15%
November 28, 2012 V968525 removed after 90 days
December 01, 2012 V981659 $1,098,000 $-197,000 -15%
February 01, 2013 V981659 removed after 62 days
February 28, 2013 V992684 $1,095,000 $-200,000 -15%
March 07, 2013 V992684 $1,045,000 $-250,000 -19%
March 13, 2013 V992684 $999,900 $-295,100 -23%

v992684_11

Current Days on Market: 196 (0.54years)
Current ‘Official’ Days on Market: 14
2012 Assessment: $1,027,000
Desperation Score: 42.3

Another new build, this one down 23% and almost $300K in 6 months.  I love the text in the front picture which tries to sell that there is a fire hydrant immediately in front of the house which would save so much on property insurance!  Surprised they don’t mention the safety benefits of the stop sign…

CAPITOL HILL VIEW 33X122′ CORNER LOT built in 2012! This custom 2 storey with basement (& crawl) family home has 4 bedrooms & 3 bathrooms upstairs, plus a bedroom & spacious room for inlaws in the basement; with their own entrance. Den on main great for home office. Deluxe Bosch S/S appliances, granite counters, eng. hardwood floors, tile, marble F/P’s plus heated floors for cozy warmth. Detached garage with lane access. Comes with 2-5-10 warranty.


#12 ) Address:5411 MYTKO CR, Lackner, Richmond

January 28, 2012 V928193 $1,238,000 $0 0%
February 21, 2012 V928193 $1,188,000 $-50,000 -4%
February 29, 2012 V928193 removed after 32 days
March 08, 2012 V935980 $1,198,000 $-40,000 -3%
April 19, 2012 V935980 removed after 42 days
April 26, 2012 V945523 $1,188,000 $-50,000 -4%
May 08, 2012 V945523 $1,098,000 $-140,000 -11%
June 21, 2012 V945523 removed after 56 days
June 30, 2012 V959431 $1,098,000 $-140,000 -11%
September 20, 2012 V959431 removed after 82 days
September 26, 2012 V973277 $1,088,000 $-150,000 -12%
October 31, 2012 V973277 $1,038,000 $-200,000 -16%
January 16, 2013 V973277 removed after 112 days
January 18, 2013 V985725 $998,000 $-240,000 -19%
March 12, 2013 V985725 $949,000 $-289,000 -23%

v985725_11

Current Days on Market: 411 (1.13years)
Current ‘Official’ Days on Market: 55
2012 Assessment: $884,000
2011 Assessment: $900,000
Desperation Score: 42.6

“Priced to sell”.  It’s above assessment in Richmond – that is 100% NOT priced to sell!

Beautiful 5 bdrm home in Lackner area. Extensively renovated & well cared for by the owner. Designer paints, crystal chandeliers, S/S appliances, gourmet kitchen, new roof are just some of the features. Awesome floor plan on the main includes entertaining-sized family room, formal living & dining rooms & the 5th bedroom which can be an office or a den. 4 huge bedrooms upstairs. Nicely landscaped West exposed backyard with gated fence, easy access to public transit. Walking distance to Jessie Wowk Elem & Richmond Christian School. Double garage plus 2 parking space. Priced to sell. Just move in & enjoy. Open house Sunday, March 17th 2-4pm.


#11 ) Address:918 CHARLAND AV, Coquitlam West, Coquitlam

March 02, 2012 V934552 $1,599,000 $0 0%
March 29, 2012 V934552 $1,499,000 $-100,000 -6%
April 24, 2012 V934552 removed after 53 days
April 27, 2012 V945850 $1,399,000 $-200,000 -13%
July 24, 2012 V945850 removed after 88 days
July 27, 2012 V963884 $1,198,000 $-401,000 -25%
September 17, 2012 V963884 removed after 52 days
September 24, 2012 V973236 $1,299,000 $-300,000 -19%
January 01, 2013 V973236 removed after 99 days
February 13, 2013 V990161 $1,299,800 $-299,200 -19%
March 04, 2013 V990161 removed after 19 days
March 10, 2013 V994795 $1,198,000 $-401,000 -25%

v994795_11

Current Days on Market: 377 (1.03years)
Current ‘Official’ Days on Market: 4
2012 Assessment: $1,151,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 42.8

“Best price per square foot.” – well at under $200/sqft with land costs included that is actually a fair and useful comment.  “Great revenue or bed and breakfast opportunity. Hot! Hot! Hot!” – this not to much

LOCATION – LOCATION – LOCATION (across from the Vancouver Golf Club). Features: floor to ceiling windows, 9 bedrooms, 8 bathrooms, 4 kitchens. There are two Brand New Suites: a two bdrm. suite and a one bdrm suite down. Recently renovated home with a new addition and with permits. Work done in 2007 & 2008. Lane access, private yard. Impressive 16 ft floor to ceiling windows that face private yard, hardwood, two stairways to upstairs, open concept living with huge kitchen, lots of parking and with a gated driveway. Best price per square foot. Great revenue or bed and breakfast opportunity. Hot! Hot! Hot!


#10 ) Address:769 W 61ST AV, Marpole, Vancouver West

October 06, 2006 V613046 $1,398,800 $0 0%
April 16, 2007 V613046 removed after 192 days
May 11, 2007 V646439 $1,398,800 $0 0%
July 12, 2007 V646439 removed after 62 days
September 29, 2007 V670948 $1,350,000 $-48,800 -3%
February 01, 2008 V670948 removed after 125 days
June 29, 2012 V959332 $2,480,000 $0 0%
September 18, 2012 V959332 $2,380,000 $-100,000 -4%
October 02, 2012 V959332 removed after 95 days
October 18, 2012 V977024 $2,090,000 $-390,000 -16%
November 01, 2012 V977024 $1,890,000 $-590,000 -24%
January 02, 2013 V977024 removed after 76 days
January 23, 2013 V986580 $1,980,000 $-500,000 -20%
February 25, 2013 V986580 removed after 33 days
March 01, 2013 V993160 $1,798,000 $-682,000 -28%

v993160_11

Current Days on Market: 258 (0.71years)
Current ‘Official’ Days on Market: 13
2012 Assessment: $1,742,000
2011 Assessment: $1,770,000
Desperation Score: 43.6

“Friendly and family Marpole neighbourhood”  “20 years young” – seriously???  That’s the type of thing you say to a granny to make her feel better, not about a home.  “A personal choice of paint and flooring will make this home cozy and new!”  AKA home has no paint and no flooring.  I wonder if the roof is ok?  “Personal choice of roof make you dry and happy!”.  Another owner who tried the price increase joke

Friendly and family Marpole neighbourhood, this South facing, grand home with spacious interior, almost 3500 sqft, 3 levels sits on a large 44 X 122 lot. 4 bedrooms up, 1 bdrmon main and 2 bdrm suite for mortgage helper/nanny’s quarter below. 20 years young situated on a quiet and beautiful street, convenient location to Churchill Secondary, Laurier Elementary, shopping, rec centre, transit and more. 3 car garage and a private fenced yard. A personal choice of paint and flooring will make this home cozy and new! A must see!!!


#9 ) Address:6940 NO 1 RD, Riverdale, Richmond

October 06, 2006 V611620 $599,000 $0 0%
January 01, 2007 V611620 removed after 87 days
March 16, 2007 V635573 $599,000 $0 0%
June 11, 2007 V635573 removed after 87 days
January 26, 2011 V865172 $799,000 $0 0%
February 09, 2011 V865172 $889,000 $0 0%
March 09, 2011 V865172 removed after 42 days
January 07, 2012 V923891 $1,878,000 $0 0%
February 15, 2012 V923891 $1,750,000 $-128,000 -7%
February 28, 2012 V923891 removed after 52 days
March 01, 2012 V934428 $1,699,000 $-179,000 -10%
May 29, 2012 V934428 $1,649,000 $-229,000 -12%
June 18, 2012 V934428 removed after 109 days
June 23, 2012 V958156 $1,548,880 $-329,120 -18%
July 12, 2012 V958156 $1,499,000 $-379,000 -20%
July 16, 2012 V958156 removed after 23 days
July 19, 2012 V962746 $1,448,000 $-430,000 -23%
January 18, 2013 V962746 removed after 183 days
February 28, 2013 V992753 $1,489,000 $-389,000 -21%
March 12, 2013 V992753 $1,368,000 $-510,000 -27%

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Current Days on Market: 432 (1.18years)
Current ‘Official’ Days on Market: 14
2012 Assessment: $1,642,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 43.8

This new home is now over 15% below assessment and yet another price increase joker.  At the current price, which isn’t selling, they must be taking a substantial loss on this build

Brand new luxury home at a very convenient west Richmond location. Over 3500 sq ft home, high-ceiling in living and family room, deluxe kitchen granite counter, stainless steel appliances, wok kitchen, tasteful colour scheme, engineered hardwood floors on the main and carpet upstairs, blinds throughout the house. 1 bedroom large legal suite, 4 ensuite bedrooms upstairs, air-conditioning, 3 car garage, HRV, electric gate, the list goes on, come and tour the home.


#8 ) Address:16021 27A AV, Grandview Surrey, White Rock

June 19, 2008 F2818337 $559,900 $0 0%
January 02, 2009 F2818337 removed after 197 days
September 23, 2009 F2921545 $439,900 $-120,000 -21%
November 22, 2009 F2921545 removed after 60 days
March 26, 2011 F1107881 $1,250,000 $0 0%
August 09, 2011 F1107881 removed after 136 days
November 16, 2011 F1127782 $1,250,000 $0 0%
December 28, 2011 F1127782 removed after 42 days
January 07, 2012 F1200374 $1,250,000 $0 0%
April 03, 2012 F1200374 removed after 87 days
April 04, 2012 F1208406 $1,250,000 $0 0%
June 02, 2012 F1208406 $1,238,000 $-12,000 -1%
June 29, 2012 F1208406 $1,199,000 $-51,000 -4%
July 25, 2012 F1208406 removed after 112 days
July 26, 2012 F1219246 $1,199,000 $-51,000 -4%
October 26, 2012 F1219246 removed after 92 days
November 02, 2012 F1226682 $1,299,900 $0 0%
December 04, 2012 F1226682 $1,199,000 $-100,900 -8%
January 01, 2013 F1226682 removed after 60 days
January 06, 2013 F1300213 $1,188,000 $-111,900 -9%
February 05, 2013 F1300213 removed after 30 days
February 09, 2013 F1303060 $1,188,237 $-111,663 -9%
March 06, 2013 F1303060 $1,120,000 $-179,900 -14%

f1303060_11

Current Days on Market: 719 (1.97years)
Current ‘Official’ Days on Market: 33
2012 Assessment: $1,212,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 45.2

This new home in White Rock has been listed for 2 years and has had numerous price increases although just recently hit a new low in price

Custom elegance, owner builder, 5 bdrm, 5 bath home has unobstruceted view of mountains, pond and valley, superior quality construction and finishing, 18′ ceilings contemporary floor plan hardwood floor throughout, large entertainment sized kitch, granite counters, deluxe Fisher Paykel appliances, bright open great room with fireplace, 3 bdrm, 3 bath above, fully finished 9 ft. walkout basement has media and games room, 2 large bedrooms plus 2 full bath. Double car garage. Heat pump (air conditioning) in ground sprinkler. Steps to South Ridge school & new elementary, Morgan Crossing and Grandview Shopping. * PREC – Personal Real Estate Corporation


#7 ) Address:5968 MARINE DR, Eagleridge, West Vancouver

October 26, 2011 V917255 $9,800,000 $0 0%
November 15, 2011 V917255 $8,900,000 $-900,000 -9%
February 01, 2012 V917255 $8,550,000 $-1,250,000 -13%
March 31, 2012 V917255 removed after 157 days
April 05, 2012 V941399 $7,900,000 $-1,900,000 -19%
July 09, 2012 V941399 removed after 95 days
July 13, 2012 V961757 $7,200,000 $-2,600,000 -27%
August 22, 2012 V961757 $6,900,000 $-2,900,000 -30%
January 10, 2013 V961757 removed after 181 days
January 17, 2013 V985358 $6,900,000 $-2,900,000 -30%
February 20, 2013 V985358 removed after 34 days
February 28, 2013 V992869 $5,980,000 $-3,820,000 -39%

v992869_11

Current Days on Market: 505 (1.38years)
Current ‘Official’ Days on Market: 14
2012 Assessment: $4,686,000
Desperation Score: 45.5

Almost $4 million in price drops and still 30% OVER assessment!

Magnificent Waterfront Luxury Home with spectacular Ocean and Island views and private oceanside terraces…Exceptional quality and design with many luxury appointments including gourmet kitchen, large Master Suite, three additionalbedroom suites, media room, wine room, elevator and covered outdoor heated sitting area with fireplace and hot tub…


#6 ) Address:12958 COULTHARD RD, Panorama Ridge, Surrey

May 05, 2009 F2906473 $1,898,000 $0 0%
October 31, 2009 F2906473 removed after 179 days
February 06, 2010 F1003379 $1,628,000 $-270,000 -14%
April 19, 2010 F1003379 removed after 72 days
April 22, 2010 F1010773 $1,425,000 $-473,000 -25%
June 26, 2010 F1010773 $1,375,000 $-523,000 -28%
July 29, 2010 F1010773 removed after 98 days
October 19, 2010 F1025971 $1,275,000 $-623,000 -33%
January 21, 2011 F1025971 $1,450,000 $-448,000 -24%
February 27, 2011 F1025971 removed after 131 days
April 07, 2011 F1109040 $1,888,000 $-10,000 -1%
July 23, 2011 F1109040 $1,698,000 $-200,000 -11%
September 21, 2011 F1109040 $1,578,000 $-320,000 -17%
October 14, 2011 F1109040 removed after 190 days
November 11, 2011 F1127590 $2,180,000 $0 0%
March 02, 2012 F1127590 $1,998,000 $-182,000 -8%
May 05, 2012 F1127590 removed after 176 days
May 09, 2012 F1212060 $1,880,000 $-300,000 -14%
August 01, 2012 F1212060 removed after 84 days
August 04, 2012 F1220026 $1,780,000 $-400,000 -18%
September 08, 2012 F1220026 $1,688,000 $-492,000 -23%
December 09, 2012 F1220026 removed after 127 days
January 19, 2013 F1301213 $1,588,000 $-592,000 -27%
February 19, 2013 F1301213 $1,498,000 $-682,000 -31%

f1301213_11

Current Days on Market: 1409 (3.86years)
Current ‘Official’ Days on Market: 54
2012 Assessment: $1,377,000
2011 Assessment: $1,237,000
Desperation Score: 46.0

This place has been listed for 4 years and it was also a fixture on craiglist as a rental – apparently it is rented now for actually a reasonable rent given the asking price.  “Vendor take back mgt possible short term.”  Such random pricing on this place – $1.275 million in October of 2010, then increased to $1.45 million in January 2011 and $1.888 million in April 2011!  Then a slow drop down to $1.578 million in September only to come back up to a whopping $2.18 million in November!  I’m sure we’ll be testing the low price shortly

Spectacularly built private Georgian brick mansion located in exclusive Panorama Ridge with water & mountain views. Everything is high end in this home. Exotic Rosewood & Brazilian Cherry wide plank flooring compliment high ceilings with beautiful crown molding. Elegant double staircases create easy access from the main floor in this stunning open concept home. Large gourmet kitchen, perfect for entertaining + wok kitchen with quality appliances. Your guests enjoy their own private access. Driveway has been prewired for entrance gates. Make this luxurious house your home with a true half acre for your family to enjoy. Rented at $6500 per month, negotiable to stay on after sale. Vendor take back mgt possible short term.


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

June 28, 2012 V959011 $1,325,000 $0 0%
August 04, 2012 V959011 $1,250,000 $-75,000 -6%
August 25, 2012 V959011 $1,175,000 $-150,000 -11%
September 19, 2012 V959011 $1,125,000 $-200,000 -15%
October 06, 2012 V959011 $1,075,000 $-250,000 -19%
October 27, 2012 V959011 $1,025,000 $-300,000 -23%
November 17, 2012 V959011 $975,000 $-350,000 -26%
December 10, 2012 V959011 $925,000 $-400,000 -30%
January 03, 2013 V959011 $899,000 $-426,000 -32%

v959011_11

Current Days on Market: 259 (0.71years)
Current ‘Official’ Days on Market: 259
2012 Assessment: $1,149,500
2011 Assessment: $954,500
Desperation Score: 46.8

Assessment increased 20% in the past year mainly because building lots were flying in this part of North Vancouver.  They missed the boat with their greed and are now over 20% BELOW assessment

UPDATE: Poster “Canyon Heights” let us know that this sold for $876,100 or almost 25% BELOW assessment and almost 35% BELOW their initial asking price

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


#4 ) Address:2656 W 41ST AV, Kerrisdale, Vancouver West

June 18, 2010 V837762 $929,000 $0 0%
August 13, 2010 V837762 removed after 56 days
March 04, 2012 V935348 $2,488,000 $0 0%
April 11, 2012 V935348 $2,388,000 $-100,000 -4%
April 24, 2012 V935348 $2,260,000 $-228,000 -9%
May 23, 2012 V935348 $1,998,000 $-490,000 -20%
May 28, 2012 V935348 removed after 85 days
May 31, 2012 V953373 $1,955,000 $-533,000 -21%
June 25, 2012 V953373 removed after 25 days
June 29, 2012 V959234 $1,880,000 $-608,000 -24%
September 07, 2012 V959234 removed after 70 days
October 05, 2012 V975091 $2,295,000 $-193,000 -8%
November 13, 2012 V975091 removed after 39 days
November 16, 2012 V980268 $2,088,000 $-400,000 -16%
February 01, 2013 V980268 removed after 77 days
February 23, 2013 V992255 $1,999,000 $-489,000 -20%

v992255_11

Current Days on Market: 375 (1.03years)
Current ‘Official’ Days on Market: 19
2012 Assessment: $1,945,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 48.1

Pulled the listing in September at $1.88 million and then relisted in October at $2.295 million.  Good luck with your awesome plan

Brand new family home in the heart of Kerrisdale. 2-5-10 year warranty. Extra deep 33×134′ lot. Extremely quiet inside. Light, bright & airy; overheight ceilings with skylights throughout. Top of the line appliances: Viking, Miele, Bosch. Beautiful dream kitchen perfect for entertaining or great family moments. Floor to ceiling glass sliding doors off kitchen area brings the outdoors in. Meticulous attention to detail from designer tiles to restoration hardware touches. All upstairs bedrooms are ensuite. 2 bdrm basement can be suited w/own laundry. A must see at this spectacular value. Kerrisdale Elem & Pt. grey Sec catchment. Also close to best private schools: Crofton House, St. Georges. HST included.

 


#3 ) Address:14120 TRITES RD, Panorama Ridge, Surrey

February 12, 2012 F1203674 $1,980,000 $0 0%
March 22, 2012 F1203674 removed after 39 days
March 23, 2012 F1207274 $1,189,900 $-790,100 -40%
June 23, 2012 F1207274 $1,139,000 $-841,000 -42%
August 02, 2012 F1207274 removed after 132 days
August 04, 2012 F1220063 $1,089,000 $-891,000 -45%
September 27, 2012 F1220063 $1,039,000 $-941,000 -48%
November 17, 2012 F1220063 $999,000 $-981,000 -50%
December 31, 2012 F1220063 removed after 149 days
January 13, 2013 F1300826 $949,000 $-1,031,000 -52%
March 13, 2013 F1300826 $899,000 $-1,081,000 -55%

f1300826_11

Current Days on Market: 396 (1.08years)
Current ‘Official’ Days on Market: 60
2012 Assessment: $1,003,000
2011 Assessment: $1,017,000
Desperation Score: 50.7

This property has made the various lists many times and is now down 55% from the absurd $1.98 million price from a year ago

PANORAMA RIDGE – Private Estate – 5191 SQFT, 1.41 ACRE – 2 Storey w/Basement. Great STREET APPEAL. Situated on a very private, treed road. Spacious floor plan with 20′ vaulted ceilings in both family & living room (features grand stone fireplace), hardwood & tile flooring througout main. Large ‘gourmet’ kitchen + additional spice kitchen & large W/I pantry. Up – Large Master with private patio, full ensuite & soaker tub, an additional 4 oversized bedrooms are also located upstairs. Down – is currently partially finished, potential for optional media/recreation and/or gym. Back – features a very private view of the valley + densely treed location. Call now to arrange a viewing. * PREC – Personal Real Estate Corporation

 


#2 ) 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%
February 07, 2013 F1214691 $111,000 $-188,900 -63%
February 21, 2013 F1214691 $108,000 $-191,900 -64%

f1214691_11

Current Days on Market: 369 (1.01years)
Current ‘Official’ Days on Market: 281
2012 Assessment: No Assessment
Desperation Score: 52.1

“wet at the bottom, then rises steeply up” – this Vancouver Price Drop Hall of Fame property has had 17 price drops in the past year!

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


#1 ) Address:4611 WOODBURN RD, Cypress Park, West Vancouver

March 15, 2012 V937107 $3,388,000 $0 0%
April 11, 2012 V937107 $3,188,000 $-200,000 -6%
April 24, 2012 V937107 $2,888,000 $-500,000 -15%
May 01, 2012 V937107 $2,688,000 $-700,000 -21%
June 29, 2012 V937107 removed after 106 days
July 02, 2012 V959849 $2,398,000 $-990,000 -29%
August 10, 2012 V959849 $2,198,000 $-1,190,000 -35%
October 01, 2012 V959849 removed after 91 days
October 06, 2012 V975394 $1,999,999 $-1,388,001 -41%
January 31, 2013 V975394 $1,888,000 $-1,500,000 -44%
February 13, 2013 V975394 $1,788,000 $-1,600,000 -47%

v975394_11

Current Days on Market: 364 (1.00years)
Current ‘Official’ Days on Market: 159
2012 Assessment: $2,481,000
2011 Assessment: $2,279,000
Desperation Score: 56.7

Initially listed at about 50% ABOVE assessment and is now priced almost 30% BELOW assessment!  $1.6 million and 47% in under a year… ouch!

Fabulous 1.35 Acre (58,806sqft) property boasting absolutely striking ocean views amidst total privacy. Enter through a private gated entry, down a long winding driveway to the home situated on a rocky bluff. Inside is a spacious 5700 sqft floor plan with vaulted ceilings, a fantastic kitchen, a master bedroom with a fabulous ensuite and his & her walk-in closets. Add to this an indoor pool. Outside, soak in the tremendous views and fabulous exposure on the huge sunlit patio. Located only a moment to Caulfield Village, near Rockridge High School and Caulfield Elementary. Try your offer.

Drop From Peak Chart – February 2013

Here is an updated chart showing the pace of the Lower Mainlands detached home price drop from peak compared to other regions.   In this chart I have combined the data from Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond and Burnaby.  HPI data is being grabbed from MLS HPI

As you can see, after 9 months we are still only above Miami.  Our HPI drop from single family homes is now 7.38% after an increase in February of 0.19%.    This is the first monthly increase since descending from the peak back in May of 2012 and mainly due to seasonal pricing it is quite possible we’ll see a couple more months of small increases or flat levels in the HPI before, I believe, we begin to show signs of the Year 2 death drop that so many american markets saw.  One thing to note is that 9 of the 14 American markets being tracked here did see at least 1 month of gains during the first 12 months dropping from the peak and 4 markets (San Diego, San Francisco, Chicago and Boston) had multiple positive months in the first year.

Click the image to see the full size image

ChartFeb