Vancouver Price Drop

Documenting Vancouver real estate price movements

Monthly Archives: April 2013

Weekly Drop Metro Vancouver Detached – April 30, 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.

4 from West Vancouver and Vancouver West and 1 from North Vancouver and Richmond

It takes a 32% drop to make this list…


#10 ) Address:1538 E KEITH RD, Lynnmour, North Vancouver

March 16, 2011 V874829 $899,000 $0 0%
April 28, 2011 V874829 $825,000 $-74,000 -8%
September 08, 2011 V874829 removed after 176 days
July 15, 2012 V962083 $739,000 $-160,000 -18%
August 01, 2012 V962083 $709,000 $-190,000 -21%
March 05, 2013 V962083 $657,000 $-242,000 -27%
April 12, 2013 V962083 $607,000 $-292,000 -32%

v962083_1

Current Days on Market: 290 (0.79years)
Current ‘Official’ Days on Market: 290
2012 Assessment: $784,100
Desperation Score: 24.5

“PRICED TO SELL!! BELOW ASSESSMENT VALUE!! SELLER NEEDS THIS TO MOVE!!”, “EXCEPTIONAL INVESTMENT OPPORTUNITY!!”

PRICED TO SELL!! BELOW ASSESSMENT VALUE!! SELLER NEEDS THIS TO MOVE!! This 2 storey 3 bedroom home on a beautiful 9,037 sq ft lot is located in the up & coming Lynnmour neighbourhood. The entire area lays in the path of future development that has already started with POLYGON’S ‘Wedgewood’ Townhomes just 1 block away. This site is currently designated for townhomes in the OCP from the district of N. Van. Only minutes from the Trans Canada Hwy & Second Narrows Bridge/Lynnmour Elem/Capilano College/Seylynn & Bridgeman Parks/shopping/recreation & only a short commute to the downtown core; making this an EXCEPTIONAL INVESTMENT OPPORTUNITY!!


#9 ) Address:11520 LAPWING CR, Westwind, Richmond

December 25, 2009 V801653 $1,350,000 $0 0%
April 01, 2010 V801653 removed after 97 days
November 12, 2010 V858270 $1,150,000 $-200,000 -15%
January 20, 2011 V858270 removed after 69 days
May 28, 2011 V890796 $1,275,000 $-75,000 -6%
July 26, 2011 V890796 removed after 59 days
January 25, 2012 V927394 $2,050,000 $0 0%
March 03, 2012 V927394 $1,890,000 $-160,000 -8%
October 18, 2012 V927394 $1,595,888 $-454,112 -22%
January 01, 2013 V927394 removed after 342 days
January 27, 2013 V987465 $1,580,000 $-470,000 -23%
February 20, 2013 V987465 $1,480,000 $-570,000 -28%
April 12, 2013 V987465 removed after 75 days
April 15, 2013 V1001263 $1,380,000 $-670,000 -33%

v1001263_1

Current Days on Market: 462 (1.27years)
Current ‘Official’ Days on Market: 16
2012 Assessment: $1,321,000
2011 Assessment: $1,294,000
Desperation Score: 37.6

” “Think” TUSCANY – Italian Villa, Morocco mystic, east Asian influence” – then get rid of those crazy thoughts and come see this house

WESTWIND – “Think” TUSCANY – Italian Villa, Morocco mystic, east Asian influence. Knock out unique and a FABULOUS property. Quick & easy access to viewing. MUST SEE – Interior delights. Your eyes will pop with excitement & appreciation. Change colors or change arches to square … you can LIVE in your DREAM residence. Excellent floor plan for private home based business or even potential for a side suite on main with separate entrance. 5 Ensuited Bedrooms including one on main. Outstanding Entertainment deck with lovely view of the mountains across the green fields. Come visit & be prepared to be WOWED!


#8) Address:3403 W 41ST AV, Dunbar, Vancouver West

November 23, 2011 V920491 $3,690,000 $0 0%
February 01, 2012 V920491 removed after 70 days
February 04, 2012 V929605 $3,688,000 $-2,000 0%
June 23, 2012 V929605 $3,399,000 $-291,000 -8%
July 18, 2012 V929605 $3,350,000 $-340,000 -9%
August 23, 2012 V929605 removed after 201 days
August 25, 2012 V967928 $2,688,000 $-1,002,000 -27%
November 01, 2012 V967928 removed after 68 days
April 13, 2013 V1000923 $2,790,000 $-900,000 -24%
April 25, 2013 V1000923 $2,399,000 $-1,291,000 -35%

v1000923_1

Current Days on Market: 525 (1.44years)
Current ‘Official’ Days on Market: 18
2012 Assessment: $2,412,000
2011 Assessment: $2,469,000
Desperation Score: 40.5

“ATTENTION INVESTORS!!!”… $1.3 million and 35% in drops and it now is finally listed below assessment despite trying to raise the price when it returned to the listings in April

ATTENTION INVESTORS!!!New price!LOT size 66′ X 169′, almost 6000sf living space in well appointed PRIME DUNBAR area! True European built and designed home! One of a kind.Newly renovated and an updated new kitchen.7 bedrms plus 1 bedrm suite.There are also 3 rooms for the office, hobby and study which can be used as additional 3 bedrms.8 bathrooms and 3 car garage plus additional 5 car uncovered parking spaces.Radiant heating,hardwood flooring and European tiles,stainless steel appliances,hickory wood cabinets and many more! LIFETIME guaranteed metal roof & Leaf Guard Systems!SOLID Granite water fountain and matured low maintenance landscaping.Please allow 48 hours for your private booking call Tina Ng at 1-604-808-8936 thank you!


# 7) Address:8035 PASCO RD, Howe Sound, West Vancouver

July 31, 2011 V902907 $7,889,000 $0 0%
August 28, 2011 V902907 $7,200,000 $-689,000 -9%
November 21, 2011 V902907 removed after 113 days
July 13, 2012 V961856 $5,480,000 $-2,409,000 -31%
November 21, 2012 V961856 $4,898,000 $-2,991,000 -38%
February 01, 2013 V961856 removed after 203 days
April 12, 2013 V1000312 $4,898,000 $-2,991,000 -38%

v1000312_1

Current Days on Market: 292 (0.80years)
Current ‘Official’ Days on Market: 19
2012 Assessment: $3,629,000
Desperation Score: 24.0

$3 million in price drops and still $1.2 million over assessment

Live in true West Coast style in this gorgeous 5 bedroom, 5 bathroom, 5,836 sq. ft. waterfront retreat. Features of this luxurious custom built home include heated slate floors, massive wooden beams, floor to ceiling windows that bring the outside in and French doors that lead you to the amazing decks so you can soak in the incredible view. The huge architectural skylights and west exposure provide natural light that is unsurpassed. This home has everything you could ask for in waterfront living from the infinity edged pool and hot tub to the waterside deck. Other features include covered parking for 6 cars, a huge sport court and a gorgeous outdoor f/place and BBQ area. This .8 acre waterfront property is truly spectacular.


#6 ) 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%
April 16, 2013 V981817 $2,298,000 $-1,482,000 -39%

v981817_1

Current Days on Market: 620 (1.70years)
Current ‘Official’ Days on Market: 147
2012 Assessment: $1,718,500
2011 Assessment: $1,786,800
Desperation Score: 35.9

“French Imersion” – maybe focus on english first!  BEST BUY!  PRICED TO SELL NOW!  Yet another price yo-yo where they raised the price in March.

BEST BUY! UPPER SHAUGHNESSY PICTURESQUE JEWEL! Extensively upgraded Cape Cod style 5 bdrm + den 3.5 bath family home. Don’t let a Granville St address deceive you. It is QUIET inside! Set-back far away from the street, high hedges, leaded glass & storm windows, A/C throughout – all planned with comfortable living in mind. Move-in now and hold for possible future re-development on this desirable 70′ x 145′ CORNER LOT. Walk to York House & Vancouver College private schools. Near Olser and Hamber public schools and Quilchena & Churchill French Imersion schools. PRICED TO SELL NOW! Must see to believe! Too many features to list here! OPEN HOUSE SATURDAY APRIL 27TH 2-4


#5 ) Address:2450 MARINE DR, Southlands, Vancouver West

March 16, 2011 V875348 $4,480,000 $0 0%
October 01, 2011 V875348 removed after 199 days
October 16, 2011 V915972 $4,188,000 $-292,000 -7%
January 01, 2012 V915972 removed after 77 days
November 21, 2012 V980718 $2,880,000 $-1,600,000 -36%
February 12, 2013 V980718 removed after 83 days
February 15, 2013 V990697 $2,788,000 $-1,692,000 -38%
April 23, 2013 V990697 removed after 67 days
April 25, 2013 V1003179 $2,688,000 $-1,792,000 -40%

v1003179_1

Current Days on Market: 161 (0.44years)
Current ‘Official’ Days on Market: 6
2012 Assessment: $2,044,900
Desperation Score: 32.8

“accomodation”… still 30% above assessment

Enjoy awesome southern views over Marine Dr, Golf & country club and beyond to the Gulf Islands from approx. 2300 sq.ft of private decks situated on your own 1/3 acre estate. Unique tastefully renovated & spacious (over 4000 sq.ft) rancher entry with a fully finished walkout lower level. Features 6 Bdrms and 4 Bthrms as well as 3 gas fpls, 2 laundrys and a self contained in-law accomodation. 2 moderns gourmet kitchens w/granite counters and built in quality appliances. Massive master bedroom (over 400 sq.ft) w/skylights, wall of closets, deluxe ensuite and private deck. Near Magee High School & Maple Grove Elementary. Within mins of U.B.C & Kerrisdale’s shops&restaurants.


#4 ) Address:5935 MARINE DR, Eagleridge, West Vancouver

April 07, 2011 V880585 $5,288,000 $0 0%
April 21, 2011 V880585 $4,998,000 $-290,000 -5%
June 14, 2011 V880585 $4,498,000 $-790,000 -15%
June 20, 2011 V880585 removed after 74 days
June 23, 2011 V895870 $4,498,000 $-790,000 -15%
September 02, 2011 V895870 removed after 71 days
October 21, 2011 V916656 $4,898,000 $-390,000 -7%
January 23, 2012 V916656 removed after 94 days
February 08, 2012 V930233 $4,298,000 $-990,000 -19%
April 12, 2012 V930233 $3,998,000 $-1,290,000 -24%
August 01, 2012 V930233 removed after 175 days
August 10, 2012 V965867 $3,888,000 $-1,400,000 -26%
November 16, 2012 V965867 removed after 98 days
February 28, 2013 V992691 $3,998,000 $-1,290,000 -24%
April 25, 2013 V992691 removed after 56 days
April 29, 2013 V1003794 $2,999,900 $-2,288,100 -43%

v1003794_1

Current Days on Market: 755 (2.07years)
Current ‘Official’ Days on Market: 2
2012 Assessment: $2,532,000
Desperation Score: 39.4

This is a very nice looking home in Eagleridge – they are now down $2.3 million and 43% and cost themselves many hundreds of thousands of dollars by pricing this so poorly over the last 2 years

This luxury 3 level gated estate home of approx. 5000sq/ft is situated in a private setting with southwest views of ocean & sunsets. Main level features: grand foyer, gourmet chef’s kitchen, large eating area/pantry,family/media room, open dining/living rooms. Upper level features: master with cut granite fireplace, 6 piece ensuite, walk in closet, study & private balconies & 3 ensuited bedrooms. Lower level has theatre room, wine cellar, guest suite, mud room & attached 2 car garage. Private terraces for entertaining & negative edge pool & hot tub. Minutes to: Caulfeild Village, maina, golf course & Horseshoe Bay. Don’t miss out!


#3 ) Address:3390 THE CRESCENT, Shaughnessy, Vancouver West

January 30, 2010 V806985 $17,900,000 $0 0%
August 01, 2010 V806985 removed after 183 days
October 28, 2011 V917626 $31,900,000 $0 0%
September 25, 2012 V917626 removed after 333 days
September 27, 2012 V973696 $22,800,000 $-9,100,000 -29%
January 18, 2013 V973696 $19,900,000 $-12,000,000 -38%
April 16, 2013 V973696 $17,800,000 $-14,100,000 -44%

v973696_1

Current Days on Market: 551 (1.51years)
Current ‘Official’ Days on Market: 216
2012 Assessment: $16,076,000
2011 Assessment: $15,788,000
Desperation Score: 35.9

3390 The Crescent has made many lists on this site in their effort to reach Hall of Fame status.  Once they drop below 50% I’ll have to consider them for induction

Location! In the heart of the 1st Shaughnessy! Rare find 10,516 sf Mansion sets on over One acre in the city’s most exclusive enclave of ‘The Crescent’. The finest and the most prestigious area. Beautiful huge front yard like a private park. Totally rewired and new pipes. The main floor has a grand entry w/a sweeping staircase to second floor. Wok Kitchen, massive living room, & dining room all overlook the garden & pool area. The paneled den, family room & breakfast room open to the large deck which access the garden & pool. The master suite has three dressing rooms, a fireplace. A large recreation room in basement. 5 car garages, a greenhouse & a outdoor pool w/large cab and more.


#2 ) Address:2190 CAMELOT AV, Panorama Village, West Vancouver

August 06, 2011 V903716 $39,900,000 $0 0%
June 01, 2012 V903716 removed after 300 days
April 26, 2013 V1003308 $22,088,000 $-17,812,000 -45%

No Picture

Current Days on Market: 5 (0.01years)
Current ‘Official’ Days on Market: 5
2012 Assessment: $5,557,000
Desperation Score: 25.9

Development lot in West Vancouver drops their price by almost $18 million in one shot!!!  They may give 3810 Marine a run for their money

The Property is zoned for single family use (predominantly RS7) and the Seller has obtained a Development Permit and a Preliminary Layout Approval from the District of West Vancouver for a 12 lot single family subdivision of the Property. Upon completion of the subdivision into 12 lots, each lot will be assigned a new civic address on the newly named road called Union Court.


#1 ) Address:3810 MARINE DR, West Bay, West Vancouver

October 29, 2006 V619157 $15,950,000 $0 0%
April 24, 2007 V619157 removed after 177 days
March 11, 2009 V756184 $30,000,000 $0 0%
April 01, 2010 V756184 removed after 386 days
September 17, 2010 V850547 $30,000,000 $0 0%
June 03, 2011 V850547 removed after 259 days
June 08, 2011 V892922 $30,000,000 $0 0%
January 01, 2012 V892922 removed after 207 days
January 19, 2012 V926362 $37,900,000 $0 0%
February 01, 2013 V926362 removed after 379 days
February 03, 2013 V988782 $37,900,000 $0 0%
March 07, 2013 V988782 $28,888,000 $-9,012,000 -24%
April 09, 2013 V988782 removed after 65 days
April 13, 2013 V1000930 $19,888,000 $-18,012,000 -48%

v1000930_1

Current Days on Market: 1512 (4.14years)
Current ‘Official’ Days on Market: 18
2012 Assessment: $6,768,500
Desperation Score: 42.7

Don’t recognize this property?  This is the infamous fake house that was making the rounds in the media a couple of months ago as the most expensive home in Canada complete with fake gold pictures that were passed off as being the current property which happens to be an old home.  They were exposed in the blogosphere and ridiculed and the realtor denied any wrong doing, quickly tried to edit and remove pictures and the media conveniently forgot about it.  The Whispers Blog had the full story, here is a link to catch you up:

http://whispersfromtheedgeoftherainforest.blogspot.ca/2013/02/fake-condo-line-ups-fake-press-photo.html

I wonder if there will be a followup story in the media about the biggest asking price drop in Canadian history for a residential sale?  $18 million and counting.  What has also been dropped are the fake house pictures and realtor Laura McLaren who was the master mind of this debacle.  

This one could be a 75%+ dropper quite easily

Exclusive, private, 34,000 +/- sqft offering approximately 400 +/- feet of waterfront. Surrounded by mature landscaping, an ideal loacation for a beautiful residence with unobstructed exposure to the picturesque waterfront, harbour and cityscapes…Please call for more information..Once in a lifetime opportunity!

Weekly Drop Suburbs – April 29, 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 3 weeks AND have dropped the largest percentage overall from their original asking price.


#10 ) Address:828 COTTONWOOD AV, Coquitlam West, Coquitlam

March 07, 2012 V935396 $1,250,000 $0 0%
May 16, 2012 V935396 removed after 70 days
March 27, 2013 V997690 $759,900 $-490,100 -39%
April 13, 2013 V997690 $738,000 $-512,000 -41%

v997690_1

Current Days on Market: 34 (0.09years)
Current ‘Official’ Days on Market: 34
2012 Assessment: $1,268,100
Desperation Score: 31.6

This place pulled their listing then relisted for 39% less only to find that there still wasn’t any interest.  Seems a likely candidate for a foreclosure sale.  Currently over 40% BELOW assessment

UPDATE: This price drop could be due to the owners splitting the property area in two

Cute home in a fantastic location… build your dream home near the Vancouver Golf Club, lane access to this level lot…lot size is approximate, or great home for the young family, close to all amenities. Contract L/S for further details.


#9 ) Address:5520 MCCOURT RD, Sechelt, Sunshine Coast

July 12, 2012 V961527 $1,700,000 $0 0%
August 04, 2012 V961527 $1,600,000 $-100,000 -6%
August 24, 2012 V961527 $1,500,000 $-200,000 -12%
September 27, 2012 V961527 $1,400,000 $-300,000 -18%
October 26, 2012 V961527 $1,300,000 $-400,000 -24%
February 13, 2013 V961527 $1,200,000 $-500,000 -29%
March 20, 2013 V961527 $1,100,000 $-600,000 -35%
April 25, 2013 V961527 $998,000 $-702,000 -41%

v961527_1

Current Days on Market: 292 (0.80years)
Current ‘Official’ Days on Market: 292
2012 Assessment: $820,000
Desperation Score: 53.9

8 completed units and the remaining 40 haven’t been built and the developer is trying to dump the lot.  41% in drops in just 9 months

Beautiful view property in West Sechelt. The remaining 2.1 acres of ocean view, looking south to the Trail Islands, could accommodate 40 more condo/apartment homes. Zoning approved for 48 units of which 8 have been built and sold in Phase One. (90% of the underground services are in place).


#8 ) Address:# 636 4591 BLACKCOMB WY, Whistler, Whistler/Pemberton

May 14, 2012 V950139 $218,000 $0 0%
July 18, 2012 V950139 $207,000 $-11,000 -5%
August 18, 2012 V950139 $208,900 $-9,100 -4%
August 21, 2012 V950139 $198,900 $-19,100 -9%
September 22, 2012 V950139 $194,900 $-23,100 -11%
November 05, 2012 V950139 removed after 175 days
November 12, 2012 V980028 $159,900 $-58,100 -27%
February 26, 2013 V980028 $139,900 $-78,100 -36%
April 26, 2013 V980028 $127,900 $-90,100 -41%

v980028_1

Current Days on Market: 351 (0.96years)
Current ‘Official’ Days on Market: 169
2012 Assessment: $161,000
Desperation Score: 24.1

Were hoping for 35% ABOVE assessment last May and now just praying for 20% BELOW assessment as the price drops over 40% in under a year

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


#7 ) Address:20457 LORNE AV, Southwest Maple Ridge, Maple Ridge

June 09, 2007 V652400 $309,900 $0 0%
July 04, 2007 V652400 removed after 25 days
July 08, 2007 V657792 $359,900 $0 0%
December 01, 2007 V657792 removed after 146 days
May 17, 2008 V709816 $339,000 $-20,900 -6%
July 21, 2008 V709816 removed after 65 days
October 29, 2011 V917749 $409,800 $0 0%
December 31, 2011 V917749 $389,800 $-20,000 -5%
May 01, 2012 V917749 removed after 185 days
June 30, 2012 V959603 $319,500 $-90,300 -22%
August 08, 2012 V959603 $299,000 $-110,800 -27%
September 21, 2012 V959603 $279,000 $-130,800 -32%
November 08, 2012 V959603 removed after 131 days
February 13, 2013 V989916 $253,900 $-155,900 -38%
March 14, 2013 V989916 $242,900 $-166,900 -41%
April 24, 2013 V989916 $232,900 $-176,900 -43%

v989916_1

Current Days on Market: 549 (1.50years)
Current ‘Official’ Days on Market: 76
2012 Assessment: $257,100
Desperation Score: 27.0

This beautifully renovated rancher is move in ready! Nicely updated throughout to make this cozy home a must see! Corner lot with a covered front porch and a great entertainment sized deck out back for bbqs in the private yard. Exposed wood beam accents and cherry wood windows add interest and warmth to this home. Great package for a great price. Commuters can walk to the West Coast Express. Call Anil today to view!


#6 ) 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%
April 19, 2013 F1227769 $799,900 $-790,100 -50%

f1227769_1

Current Days on Market: 747 (2.05years)
Current ‘Official’ Days on Market: 159
2012 Assessment: $1,029,000
2011 Assessment: $1,052,000
Desperation Score: 43.1

This property is closing in on a spot in the hall of fame with 13 price drops, 2 years listed, now down 50% and over 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. THERE IS 2 PARKING FOR THIS UNIT. #33 AND #11


#5 ) Address:# LOT 36 BONNIEBROOK HEIGHTS RD, Gibsons, Sunshine Coast

March 09, 2012 V718261 $299,500 $0 0%
May 01, 2012 V718261 removed after 53 days
November 28, 2012 V981325 $179,500 $-120,000 -40%
April 24, 2013 V981325 $149,500 $-150,000 -50%

v981325_1

Current Days on Market: 153 (0.42years)
Current ‘Official’ Days on Market: 153
2012 Assessment: Unknown
Desperation Score: 17.0

“SUBSTANTIAL PRICE REDUCTION”

Gorgeous panoramic ocean view lot. Driveway & culvert in place, septic approved, cleared & ready to build on. Close to great beach. Come view the view & picture the lifestyle possibilities for a home on this unique & rare lot offering. SUBSTANTIAL PRICE REDUCTION


#4 ) Address:4575 UDY RD, Sumas Mountain, Abbotsford

February 06, 2010 F1003388 $1,800,000 $0 0%
April 22, 2010 F1003388 removed after 75 days
March 29, 2011 F1108035 $1,295,000 $-505,000 -28%
July 01, 2011 F1108035 $1,150,000 $-650,000 -36%
September 07, 2011 F1108035 $1,095,000 $-705,000 -39%
December 29, 2011 F1108035 removed after 275 days
February 25, 2012 F1204808 $999,900 $-800,100 -44%
May 19, 2012 F1204808 $949,900 $-850,100 -47%
August 09, 2012 F1204808 removed after 166 days
November 16, 2012 F1227424 $938,000 $-862,000 -48%
February 09, 2013 F1227424 $928,000 $-872,000 -48%
April 10, 2013 F1227424 $875,000 $-925,000 -51%

f1227424_1

Current Days on Market: 763 (2.09years)
Current ‘Official’ Days on Market: 165
2012 Assessment: $933,000
Desperation Score: 25.8

Another 50%+ dropper yet just recently finally listed for below assessment after 2 years on the market

Long secluded driveway takes you up to this ‘Stunning’ Custom Crafted ‘Log Home’ on 5 private treed acres. ‘International’ attention on this beauty due to attention to detail + state of the art, Custom built vaulted rooms from this one of a kind ‘Log Home’ with 2 storeys + walkout basement home. 6140 total sqft with gorgeous Hickory Kitchen with solid S/S appliances Fridge + Stove ($14,000). Huge island. Massive vaults. Massive windows. Rock fireplaces. Fir floors. Energy efficient infloor heating. Beautifully landscaped with ponds + gardens. Attached 20×39 tandem garage. Detached 25×45 workshop. 15×24 hip roof barn. ‘Wow’ factor home on peaceful cul-de-sac, yet 5 mins to Ledgeview Golf Course, 7 mins to New Whatcom Mall/Connector.


#3 ) Address:11070 LOCKWOOD ST, Thornhill, Maple Ridge

July 21, 2010 V842772 $1,200,000 $0 0%
August 19, 2010 V842772 removed after 29 days
June 03, 2011 V892049 $2,490,000 $0 0%
November 08, 2011 V892049 removed after 158 days
May 05, 2012 V947809 $1,580,000 $-910,000 -37%
October 01, 2012 V947809 removed after 149 days
April 25, 2013 V1003241 $1,200,000 $-1,290,000 -52%

v1003241_1

Current Days on Market: 5 (0.01years)
Current ‘Official’ Days on Market: 5
2012 Assessment: $908,000
Desperation Score: 30.5

“Was there a grow-op on this property? Is the house habitable at this time? No.” – I think they forgot to answer the first question…  Previous listing last year said “The property has a solid basement entry home on it that is easily rented while development progresses.” – guess they should have been a little more picky with the renters?

A gently sloping 4.64 acres in the designated urban area of Maple Ridge’s Official Community Plan. This is a panhandle-shaped lot with frontage running all the way from 112th to 110th. Was there a grow-op on this property? Is the house habitable at this time? No. Is it a great holding property? Yes. Priced to sell. *Inquire with LR about surrounding land assembly.*


#2 ) Address:# LT.8 HAWKINS PICKLE RD, Dewdney/ Deroche, Mission

July 10, 2010 F1019142 $2,880,000 $0 0%
November 10, 2010 F1019142 removed after 123 days
June 16, 2011 F1115374 $1,900,000 $-980,000 -34%
June 30, 2011 F1115374 $1,499,000 $-1,381,000 -48%
August 25, 2011 F1115374 $1,900,000 $-980,000 -34%
October 25, 2011 F1115374 $2,200,000 $-680,000 -24%
June 30, 2012 F1115374 removed after 380 days
April 17, 2013 F1308778 $1,340,000 $-1,540,000 -53%

No Picture

Current Days on Market: 13 (0.04years)
Current ‘Official’ Days on Market: 13
2012 Assessment: Unknown
Desperation Score: 24.8

Pricing history is interesting / absurd

47.51 Acres of Prime, fertile Farm land. Great organic soil, Peaceful, Private, Scenic setting. Good for crops, Berries, Dairy, Beef. Only 10 min. E of Mission. Located within Dyking. Includes water rights.


#1 ) Address:4478 STALASHEN DR, Sechelt, Sunshine Coast

May 21, 2012 V951633 $69,000 $0 0%
June 21, 2012 V951633 $59,000 $-10,000 -14%
July 18, 2012 V951633 $39,000 $-30,000 -43%
October 23, 2012 V951633 $37,500 $-31,500 -46%
April 12, 2013 V951633 $29,500 $-39,500 -57%

v951633_1

Current Days on Market: 344 (0.94years)
Current ‘Official’ Days on Market: 344
2012 Assessment: $147,400
Desperation Score: 21.3

And our winner is listed at 80% BELOW assessment!!!  It is a leased land property and the lease runs out next year.  

Lowest priced home in Tsawcome properties – 2 bedroom rancher-style home shows pride of ownership throughout and boasts a recently replaced roof and pressurized septic field. The open floor plan with vaulted ceilings and skylights in the living room, master bedroom and bathroom areas provide a spacious feeling and the abundance of over-sized windows further enhance the bright and welcoming interior. A gas fireplace for romantic evenings, private treed yard with privacy fence in front, covered parking and just a few steps to the beach make this home an ideal situation for full time AND weekend living in an “ALMOST WATERFRONT” setting! A prepaid lease to 2014 with option to extend lease to 2037!

Drop From Peak Chart – March 2013

Here is an updated chart showing the pace of the Lower Mainland’s 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

We had a fairly large increase in March in the HPI at 0.83% bringing the increase from the last 2 months up to 0.96%.  Like I mentioned last month, I’d expect 1 more month of flat or slight increases to the HPI before the MOI, public sentiment shifts, a likely government change, another month of poor employment and economic growth, unaffordability etc etc start to make their impact.  Out of the 15 cities being profiled on the chart, Vancouver is now in 4th spot.

Here are the results for each city in the calculation since May 2012.  Note that Richmond and Vancouver West peaked a month earlier and Burnaby and Vancouver East peaked a month later

City Drop since May 2012
Burnaby 5.5% (5.8% from June 2012)
North Vancouver 4.8%
Richmond 7.9% (8.6% from April 2012)
Vancouver East 4.5% (4.8% from June 2012)
Vancouver West 9.9% (10.2% from April 2012)
West Vancouver 7.1%

Click to expand

Chart

If I Lost a Million Dollars – April 16, 2013

Here are the top 10 biggest $ drops for all current listings – it takes a record breaking $4 million in drops to make the list

5 properties from West Vancouver, 2 from Vancouver West, 1 from North Vancouver and 1 from Maple Ridge and Port Moody


#10 ) Address:5375 KEW CLIFF RD, Caulfeild, West Vancouver

November 09, 2007 V677194 $19,800,000 $0 0%
October 31, 2008 V677194 removed after 357 days
March 07, 2010 V813451 $19,800,000 $0 0%
March 01, 2011 V813451 removed after 359 days
June 26, 2011 V896620 $15,800,000 $-4,000,000 -20%
June 01, 2012 V896620 removed after 341 days
June 04, 2012 V954150 $15,800,000 $-4,000,000 -20%
January 01, 2013 V954150 removed after 211 days
January 25, 2013 V987049 $15,800,000 $-4,000,000 -20%

v987049_1

Current Days on Market: 1137 (3.12years)
Current ‘Official’ Days on Market: 82
2012 Assessment: $7,941,000
Desperation Score: 7.0

Listed now for 3 years (and 4 of the last 5 years) this property has not had a price drop in 2 years and is still sitting at double assessment.

A truly exceptional Waterfront 0.825 Acre estate property offering approximately 190′ of prime waterfront, floating dock and private boat moorage. This classic West Vancouver contemporary aproperty offers spectacular Westerley views to Bowen Island from this ultimate private estate. Offering approximately 6000 sqft. This classic contemporary features large principle rooms with indoor heated swimming pool. A World Class opportunity to develop the ultimate residential waterfront estate with direct access to your boat.


#9 ) Address:1416 WESBROOK CR, University, Vancouver West

April 18, 2010 V823102 $12,880,000 $0 0%
June 22, 2010 V823102 removed after 65 days
June 22, 2012 V957905 $27,800,000 $0 0%
November 20, 2012 V957905 removed after 151 days
December 29, 2012 V983132 $23,800,000 $-4,000,000 -14%

v983132_1

Current Days on Market: 299 (0.82years)
Current ‘Official’ Days on Market: 109
2012 Assessment: $14,337,000
2011 Assessment: $12,263,000
Desperation Score: 14.4

$4 million in price drops but still listed $11 million over the 2010 listing price and $9.5 million over assessment

This 7 years costum built house in prestigious UBC area give you panoramic view of water, mountain & city. 7876 SF of living area on 30,545 SF of beautifully landscaped with outdoor pool. It offers elegant LR & DR, spacious family room & a nice wok kitchen on main. Upper level: 3 nice sized bedrooms plus a huge living room (can be 4th bdrm). Basement: spacious recreation & media room, wine cellar. It offers everything you can imagine. A must see!


#8 ) Address:3051 ANMORE CREEK WY, Anmore, Port Moody

March 06, 2008 V692588 $7,700,000 $0 0%
October 21, 2008 V692588 removed after 229 days
January 12, 2013 V984809 $3,400,000 $-4,300,000 -56%

v984809_1

Current Days on Market: 95 (0.26years)
Current ‘Official’ Days on Market: 95
2012 Assessment: Unknown
2011 Assessment: $2,757,000
Desperation Score: 21.9

16 acres of Anmore foreclosure.  Not good news for those living in the area where it is already almost impossible to sell anything over $1.5 million – a lot of newish home listings there couldn’t be much higher than construction cost and still not moving.

Fantastic Development Property-15.96 acres. Could be developed with Lot 3 Anmore Creek MLS V956061-For 23 Acres-in the Beautiful Village of Anmore. The 15.96 acres has a 3 bedroom, basement home. Currently Rented- Please respect the Tenant’s Privacy. Please contact June before entering the property.


#7 ) Address:5590 GALLAGHER PL, Eagle Harbour, West Vancouver

September 14, 2007 V668128 $12,888,888 $0 0%
December 17, 2007 V668128 removed after 94 days
August 20, 2009 V782573 $9,980,000 $-2,908,888 -23%
December 01, 2009 V782573 removed after 103 days
January 23, 2010 V805577 $9,288,000 $-3,600,888 -28%
March 20, 2010 V805577 $8,888,800 $-4,000,088 -31%
July 26, 2010 V805577 removed after 184 days
February 24, 2011 V871446 $8,298,000 $-4,590,888 -36%
May 21, 2011 V871446 $8,198,000 $-4,690,888 -36%
June 21, 2011 V871446 removed after 117 days
June 29, 2011 V896798 $7,980,000 $-4,908,888 -38%
November 01, 2011 V896798 removed after 125 days
November 17, 2011 V920061 $7,980,000 $-4,908,888 -38%
April 24, 2012 V920061 removed after 159 days
September 08, 2012 V970327 $7,999,000 $-4,889,888 -38%
January 16, 2013 V970327 removed after 130 days
February 17, 2013 V991319 $7,988,000 $-4,900,888 -38%

v991319_1

Current Days on Market: 783 (2.15years)
Current ‘Official’ Days on Market: 59
2012 Assessment: $7,267,000
Desperation Score: 9.3

I made fun of their elimination of the magic “8” in their pricing the last time they made this list but they have gone back to their 8 roots.  Still listed higher than the 2011 asking price and listed on (mostly) and off for 6 years now

An absolutely stunning Lamoureux designed home. Situated over half acre of waterfront, this home is appointed with every luxury one could imagine. Features include Sub-Zero fridges, drawers, bar fridges, Dacor commercial range & ovens, light-touch lighting by Cryderman Electric, media and billiard rooms, complete entertainment bar with cigar fans, wine coolers, bar fridge with ice-maker, edge-grain oak floors, granite, tumbled marble & marble finishings, extensive millwork, 3-car garage, paving stone pathway (ready for golf cart) to your own patio and DOCK on the 200′ of waterfront and more – too much to list. Enjoy the stunning views through Dynamic floor window or from one of the 4 patios (3 covered all with gas & water).


#6 ) Address:5050 HAPPY VALLEY LN, Caulfeild, West Vancouver

January 13, 2013 V985044 $28,800,000 $0 0%
April 16, 2013 V985044 $23,800,000 $-5,000,000 -17%

v985044_1

Current Days on Market: 94 (0.26years)
Current ‘Official’ Days on Market: 94
2012 Assessment: $8,693,000
Desperation Score: 19.1

New listing starts off with more than triple assessment and now cuts their price by $5 million 3 months into the listing.  Still $15 million over assessment

This rare & stunning European style mansion is a private property situated on an estate lot of 2.3 acres. It boasts almost 13,000 sq ft of world class living areas w/ocean sunset views & borders a heritage park in West Vancouver. This elegant mansion is built w/quality & artisan craftsmanship, designed w/passion & boasts many “one of a kind” & “first of” materials & features. 7 bedrooms & 6 luxe designer bathrooms, an expansive kitchen w/sea and park views, a sophisticated high ceiling grand walnut library. This elegant mansion is equipped w/sophisticated lighting, HVAC, music & security systems, a four car garage. Bespoke walnut wine cellar & an indoor/outdoor pool with dining & bar development coming up.


#5 ) Address:12157 – 12175 224TH ST, West Central, Maple Ridge

April 24, 2008 V703429 $7,900,000 $0 0%
June 25, 2008 V703429 $5,900,000 $-2,000,000 -25%
October 15, 2008 V703429 $4,900,000 $-3,000,000 -38%
October 29, 2009 V703429 $2,490,000 $-5,410,000 -68%
February 09, 2010 V703429 $3,900,000 $-4,000,000 -51%
July 10, 2010 V703429 $2,900,000 $-5,000,000 -63%
September 22, 2010 V703429 $2,499,000 $-5,401,000 -68%
November 03, 2010 V703429 $3,900,000 $-4,000,000 -51%
July 20, 2011 V703429 $2,900,000 $-5,000,000 -63%
September 24, 2011 V703429 $2,500,000 $-5,400,000 -68%
February 01, 2012 V703429 $1,990,000 $-5,910,000 -75%
May 01, 2012 V703429 $1,750,000 $-6,150,000 -78%

v703429_1

Current Days on Market: 1819 (4.98years)
Current ‘Official’ Days on Market: 1819
2011 Assessment: $898,000
2012 Assessment: $954,000
Desperation Score: 15.2

What can you even say about these dreamers?

Town Core potential highrise site. Located near Town & Ecra Seniors Centre & extensive new apartment development.


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

April 07, 2007 V638852 $8,400,000 $0 0%
July 30, 2007 V638852 removed after 114 days
September 16, 2007 V668834 $9,000,000 $0 0%
December 04, 2007 V668834 removed after 79 days
August 21, 2011 V906191 $14,300,000 $0 0%
October 13, 2011 V906191 $12,980,000 $-1,320,000 -9%
April 11, 2012 V906191 $9,980,000 $-4,320,000 -30%
June 14, 2012 V906191 removed after 298 days
June 23, 2012 V958265 $8,998,000 $-5,302,000 -37%
November 10, 2012 V958265 $7,898,000 $-6,402,000 -45%

v958265_1

Current Days on Market: 605 (1.66years)
Current ‘Official’ Days on Market: 298
2012 Assessment: $8,217,000
2011 Assessment: $8,286,000
Desperation Score: 26.4

After $6.5 million in drops this home is now below assessment – the other people on this list should take notice and realize you have a loooooooooooooong way to go

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


#3 ) 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: 1011 (2.77years)
Current ‘Official’ Days on Market: 128
2011 Assessment: $5,947,000
2012 Assessment: $6,130,000
Desperation Score: 35.4

Close to $10 million in price drops and still over assessment

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!


#2 ) Address:3390 THE CRESCENT, Shaughnessy, Vancouver West

January 30, 2010 V806985 $17,900,000 $0 0%
August 01, 2010 V806985 removed after 183 days
October 28, 2011 V917626 $31,900,000 $0 0%
September 25, 2012 V917626 removed after 333 days
September 27, 2012 V973696 $22,800,000 $-9,100,000 -29%
January 18, 2013 V973696 $19,900,000 $-12,000,000 -38%
April 16, 2013 V973696 $17,800,000 $-14,100,000 -44%

v973696_1

Current Days on Market: 537 (1.47years)
Current ‘Official’ Days on Market: 202
2011 Assessment: $15,788,000
2012 Assessment: $16,076,000
Desperation Score: 36.6

Back a few months ago I correctly predicted that this home would be the first $10 million drop.  I also said it would be the first $15 million and unfortunately I didn’t nail that prediction although they are well on their way to be second

Location! In the heart of the 1st Shaughnessy! Rare find 10,516 sf Mansion sets on over One acre in the city’s most exclusive enclave of ‘The Crescent’. The finest and the most prestigious area. Beautiful huge front yard like a private park. Totally rewired and new pipes. The main floor has a grand entry w/a sweeping staircase to second floor. Wok Kitchen, massive living room, & dining room all overlook the garden & pool area. The paneled den, family room & breakfast room open to the large deck which access the garden & pool. The master suite has three dressing rooms, a fireplace. A large recreation room in basement. 5 car garages, a greenhouse & a outdoor pool w/large cab and more.


#1 ) Address:3810 MARINE DR, West Bay, West Vancouver

October 29, 2006 V619157 $15,950,000 $0 0%
April 24, 2007 V619157 removed after 177 days
March 11, 2009 V756184 $30,000,000 $0 0%
April 01, 2010 V756184 removed after 386 days
September 17, 2010 V850547 $30,000,000 $0 0%
June 03, 2011 V850547 removed after 259 days
June 08, 2011 V892922 $30,000,000 $0 0%
January 01, 2012 V892922 removed after 207 days
January 19, 2012 V926362 $37,900,000 $0 0%
February 01, 2013 V926362 removed after 379 days
February 03, 2013 V988782 $37,900,000 $0 0%
March 07, 2013 V988782 $28,888,000 $-9,012,000 -24%
April 09, 2013 V988782 removed after 65 days
April 13, 2013 V1000930 $19,888,000 $-18,012,000 -48%

v1000930_1

Current Days on Market: 1498 (4.10years)
Current ‘Official’ Days on Market: 4
2012 Assessment: $6,768,500
Desperation Score: 44.5

Don’t recognize this property?  This is the infamous fake house that was making the rounds in the media a couple of months ago as the most expensive home in Canada complete with fake gold pictures that were passed off as being the current property which happens to be an old home.  They were exposed in the blogosphere and ridiculed and the realtor denied any wrong doing, quickly tried to edit and remove pictures and the media conveniently forgot about it.  The Whispers Blog had the full story, here is a link to catch you up:

http://whispersfromtheedgeoftherainforest.blogspot.ca/2013/02/fake-condo-line-ups-fake-press-photo.html

I wonder if there will be a followup story in the media about the biggest asking price drop in Canadian history for a residential sale?  $18 million and counting.  What has also been dropped are the fake house pictures and realtor Laura McLaren who was the master mind of this debacle.  

 

Exclusive, private, 34,000 +/- sqft offering approximately 400 +/- feet of waterfront. Surrounded by mature landscaping, an ideal loacation for a beautiful residence with unobstructed exposure to the picturesque waterfront, harbour and cityscapes…Please call for more information..Once in a lifetime opportunity!

Weekly Drop Metro Vancouver Detached – April 9, 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 2 weeks AND have dropped the largest percentage overall from their original asking price.

5 properties from West Vancouver and 2 from North Vancouver in the list

4 properties are “rare”…


#10 ) 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: 783 (2.15years)
Current ‘Official’ Days on Market: 15
2012 Assessment: $530,700
Desperation Score: 20.9

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


#9) Address:3225 CAPILANO CR, Capilano, North Vancouver

August 09, 2012 V965573 $2,350,000 $0 0%
September 01, 2012 V965573 $1,998,000 $-352,000 -15%
October 02, 2012 V965573 removed after 54 days
April 04, 2013 V998798 $1,638,000 $-712,000 -30%

v998798_1

Current Days on Market: 7 (0.02years)
Current ‘Official’ Days on Market: 7
2012 Assessment: $1,378,000
Desperation Score: 29.0

Their initial price was so mind numbingly out of whack I can’t understand what they were thinking.  Their current price might have sold last year in this hot area but now even after 30% and $700K in drops in just 8 months I don’t imagine they will have any luck

At natures door-stunning rare riverfront estate just a short stroll to Edgemont Village. Over 20,000 square foot lot on quiet crescent with well-maintained 3 bdrm, 2 1/2 bathroom West Coast contemporary. Open floor plan, vaulted ceilings, wall to wall windows, and a 1,000 sq ft of decks with intimate views of the Capilano River and canyon. This home is perfect for entertaining and being one with nature. A special retreat. Sought after Highlands Elementary and Handsworth Secondary school catchment.

 


#8 ) Address:2820 RIVER RD, Terra Nova, Richmond

December 10, 2012 V982072 $5,880,000 $0 0%
January 23, 2013 V982072 $4,990,000 $-890,000 -15%
March 16, 2013 V982072 $4,590,000 $-1,290,000 -22%
March 29, 2013 V982072 $3,990,000 $-1,890,000 -32%

v982072_1

Current Days on Market: 122 (0.33years)
Current ‘Official’ Days on Market: 122
2012 Assessment: $2,677,000
2011 Assessment: $2,844,000
Desperation Score: 38.1

Almost $2 million in price drops in a little over 3 months for a home that will likely be the first one to sink into the silt and be swallowed by the Fraser river.  Still $1.3 million over assessment in Richmond – not going to happen

Peacefully nestled in a bird sanctuary at the mouth of the river with panoramic views in Richmond’s most prestigious location. Open plan offers water, mountain & garden views from virtually every room.18-25 foot ceilings with large custom wood and curved glass windows, 2 spacious gourmet kitchens, indoor waterfall rock garden. Private master bed on top floor with sitting area and spacious bath featuring a large steam, curved glass shower. Media room boasts top of the line sound system throughout the home and a movie theatre. 6,215 square feet of living space also features 5 bed, office, games room, 2,268 square feet of deck space, outdoor hot tub, 4 full & 2 half baths, 4 car garage. A truly artistic entertainment home.


#7 ) Address:1490 BALFOUR AV, Shaughnessy, Vancouver West

February 06, 2010 V808109 $3,500,000 $0 0%
July 01, 2010 V808109 removed after 145 days
July 08, 2010 V840846 $2,990,000 $-510,000 -15%
January 01, 2011 V840846 removed after 177 days
February 02, 2011 V866636 $2,900,000 $-600,000 -17%
April 22, 2011 V866636 $3,100,000 $-400,000 -11%
May 12, 2011 V866636 removed after 99 days
January 18, 2012 V926061 $5,980,000 $0 0%
March 08, 2012 V926061 removed after 50 days
March 12, 2012 V936750 $4,888,000 $-1,092,000 -18%
June 30, 2012 V936750 removed after 110 days
July 27, 2012 V963915 $3,988,000 $-1,992,000 -33%
January 01, 2013 V963915 removed after 158 days
March 29, 2013 V998120 $3,988,000 $-1,992,000 -33%

v998120_1

Current Days on Market: 449 (1.23years)
Current ‘Official’ Days on Market: 13
2012 Assessment: $3,203,000
2011 Assessment: $3,051,000
2011 Last Sale: $2,980,000 on 21/Apr/2011
Total Profit IF sold for list price: 179,864 transaction costs and 1,008,000 profit on sale = Profit of 828,136
Desperation Score: 24.8

They buy this home for under $3 million in April of 2011 and then relist for almost $6 million 9 months later…  They have come down $2 million since then but what they don’t realize yet is that they probably couldn’t get what they paid for it right now.  By the time they realize this they could be in for a 7 figure loss.  

LOCATION! LOCATION! THE FIRST SHAUGHNESSY IS STILL THE BEST ADDRESS IN VANCOUVER, JUST AS IT WAS MORE THAN 100 YEARS AGO WHEN IT WAS FIRST LAID OUT FOR THE GROWING CITY’S POWERFUL AND WEALTHY. PROPERTIES SUCH AS THIS ARE RARE FINDS IN VANCOUVER’S EXCLUSIVE FIRST SHAUGHNESSY DISTRICT. THIS PRIVATE PROPERTY, SHIELDED FOR PRIVACY BY STONE WALLS, HEDGES AND TREES, IS APPROXIMATELY18,000 SQFT WITH AN IMPRESSIVE 144 FOOT FRONTAGE. THIS CLASSIC SHAUGHNESSY HOME RETAINS MUCH OF ITS ORIGINAL CHARACTER – STAINED GLASS WINDOWS, FOUR FIREPLACES AND EXTENSIVE AND ORIGINAL WOOD TRIM. IN ADDITION TO THE MAIN HOUSE THERE IS ALSO A 900 SQFT COACH HOUSE. RENOVATE OR BUILD A BRAND-NEW HOME. DO NOT MISS THIS OPPORTUNITY


#6 ) Address:5358 KEW CLIFF RD, Caulfeild, West Vancouver

October 06, 2006 V588935 $2,995,000 $0 0%
October 30, 2006 V588935 removed after 24 days
September 23, 2007 V669957 $4,200,000 $0 0%
October 24, 2007 V669957 $3,950,000 $-250,000 -6%
May 06, 2008 V669957 $3,495,000 $-705,000 -17%
December 09, 2008 V669957 removed after 443 days
January 17, 2009 V748716 $3,495,000 $-705,000 -17%
July 16, 2009 V748716 removed after 180 days
April 04, 2010 V819725 $2,995,000 $-1,205,000 -29%
July 06, 2010 V819725 $2,499,000 $-1,701,000 -41%
July 24, 2010 V819725 $3,200,000 $-1,000,000 -24%
August 31, 2010 V819725 $2,698,000 $-1,502,000 -36%
October 01, 2010 V819725 removed after 180 days
October 08, 2010 V853790 $2,698,000 $-1,502,000 -36%
October 29, 2010 V853790 removed after 21 days
August 25, 2011 V906744 $4,088,000 $-112,000 -3%
August 31, 2011 V906744 $4,290,000 $0 0%
September 20, 2011 V906744 $4,158,000 $-132,000 -3%
October 25, 2011 V906744 $4,870,000 $0 0%
November 24, 2011 V906744 removed after 91 days
December 22, 2011 V922782 $4,870,000 $0 0%
March 13, 2012 V922782 $4,380,000 $-490,000 -10%
April 03, 2012 V922782 $3,990,000 $-880,000 -18%
June 16, 2012 V922782 $3,750,000 $-1,120,000 -23%
July 14, 2012 V922782 removed after 205 days
August 25, 2012 V968044 $3,468,000 $-1,402,000 -29%
February 07, 2013 V968044 $3,198,000 $-1,672,000 -34%
March 25, 2013 V968044 removed after 212 days
April 05, 2013 V999154 $3,198,000 $-1,672,000 -34%

v999154_1

Current Days on Market: 595 (1.63years)
Current ‘Official’ Days on Market: 6
2012 Assessment: $2,261,000
2011 Assessment: $2,437,000
Desperation Score: 40.4

Nice looking home but their pricing is comical.  They likely paid somewhere around $2.7 million in October of 2010 (based on listing history) and then tried to sell it for $4.9 million a year later.  

Unique, sophisticated, quietly elegant, handcrafted, naturally beautiful- you’ll be captivated by this home & the lifestyle! Kew Cliff known as one of West Vancouver’s most sought after waterfront cul-de-sac. Situated on a private gated 20,000 sqft fully landscaped estate, this classic heritage style custom built residence has been designed using the highest attention to detail quality & finishing. Boasting over 6000+ sqft on 3 levels, where all principal rooms open onto entertainment size concrete patios with amazing sunsets unobstructed ocean views of Passage Island, Bowen Island and out the mighty Pacific to Vancouver Island & Nanaimo. Approximate House Size: 6169 sqft. Double Garage size: 594 sqft.


#5 ) 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%
March 29, 2013 V997055 $1,198,000 $-651,000 -35%
April 05, 2013 V997055 $1,150,000 $-699,000 -38%

v997055_1

Current Days on Market: 181 (0.50years)
Current ‘Official’ Days on Market: 20

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: 56.4

YoYo pricing did not work, back down to $1.15 million and soon to be under a million

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 listing realtor for your personal tour. Open house Saturday 2-4pm.


#4 ) Address:420 N OXLEY ST, West Bay, West Vancouver

August 30, 2007 V665861 $1,695,000 $0 0%
November 01, 2007 V665861 $1,639,000 $-56,000 -3%
April 12, 2008 V665861 $1,595,000 $-100,000 -6%
July 01, 2008 V665861 removed after 306 days
October 22, 2008 V740232 $1,395,000 $-300,000 -18%
March 03, 2009 V740232 $1,249,000 $-446,000 -26%
April 27, 2009 V740232 removed after 187 days
December 08, 2011 V921903 $4,840,000 $0 0%
April 23, 2012 V921903 $4,498,000 $-342,000 -7%
June 08, 2012 V921903 removed after 183 days
June 13, 2012 V956135 $3,999,000 $-841,000 -17%
October 22, 2012 V956135 removed after 131 days
October 25, 2012 V977860 $3,488,000 $-1,352,000 -28%
January 11, 2013 V977860 removed after 78 days
March 29, 2013 V998134 $2,999,888 $-1,840,112 -38%

v998134_1

Current Days on Market: 490 (1.34years)
Current ‘Official’ Days on Market: 13
2012 Assessment: $2,026,000
2011 Assessment: $1,855,000
Desperation Score: 38.9

They likely paid about $1.2 million for the lot and roughly $800K to build then try to sell it for $4.84 million…  Now down below $3 million with lots more to go

One of a kind~ 3 level 4 bed/3 bath/5 decks rebuilt West Coast contemporary home. Stunning details in every room of this unique house. This zen oasis boasts ocean views from almost every angle, professional landscape design with a private sitting area over Cave Creek. Elite gourmet kitchen with Bosch appliances, Caesarstone quartz countertops & custom cabinetry. Premium site finished oak floors, Radiant heat Italian tile in baths & throughout lower floor. 3 linear burn Marquis Collection fireplaces, spa-inspired ensuite, Rinnai tankless on-demand hot water system, Trane forced air furnace & heat pump, Extensive use of Hunter Douglas shades & California Closets, fully wired. You need to experience this home! By appointment only.


#3 ) 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%
March 28, 2013 V975394 removed after 173 days
March 31, 2013 V998474 $1,790,000 $-1,598,000 -47%

v998474_1

Current Days on Market: 392 (1.07years)
Current ‘Official’ Days on Market: 11
2012 Assessment: $2,481,000
2011 Assessment: $2,279,000
Desperation Score: 57.3

This future Vancouver Price Drop Hall-Of-Famer raised the price by $2K…  Next stop, 50% in price drops

Enter a magnificently private 400 foot driveway & discover a stylish contemporary home seamlessly constructed into an impressive rock bluff. Substantially renovated in 2000, this 3 Bed/3 Bath over 5,700 sq ft home has some of West Van’s most expansive ocean views. The home is blessed with oversized rooms throughout, soaring vaulted ceilings, all day sunshine, a renovated kitchen & master bath and an indoor pool. The 1.35 acre gated property is truly astonishing & offers privacy seldom found in West Van today. A great lower level equipped with a bar as well as a triple garage complete the package. Walk to Caulfeild and Rockridge Secondary! Hard to find a house this large with such impressive views at this price.


#2 ) Address:6945 ISLEVIEW RD, Whytecliff, West Vancouver

November 25, 2006 V622369 $5,500,000 $0 0%
January 08, 2007 V622369 removed after 44 days
April 20, 2007 V642168 $5,500,000 $0 0%
May 12, 2007 V642168 $4,995,000 $-505,000 -9%
September 05, 2007 V642168 removed after 138 days
September 14, 2007 V668172 $7,750,000 $0 0%
March 11, 2008 V668172 removed after 179 days
October 21, 2008 V740205 $7,200,000 $-550,000 -7%
February 06, 2009 V740205 removed after 108 days
February 15, 2009 V752408 $6,800,000 $-950,000 -12%
June 25, 2009 V752408 $5,495,000 $-2,255,000 -29%
August 06, 2009 V752408 removed after 172 days
March 03, 2010 V812066 $5,250,000 $-2,500,000 -32%
March 10, 2010 V812066 $5,495,000 $-2,255,000 -29%
June 13, 2010 V812066 $4,950,000 $-2,800,000 -36%
September 22, 2010 V812066 removed after 203 days
September 24, 2010 V851694 $4,479,000 $-3,271,000 -42%
January 27, 2011 V851694 removed after 125 days
February 03, 2011 V866834 $4,479,000 $-3,271,000 -42%
February 11, 2011 V866834 $3,998,000 $-3,752,000 -48%
January 31, 2012 V866834 removed after 362 days
February 16, 2012 V931686 $3,998,000 $-3,752,000 -48%
June 01, 2012 V931686 removed after 106 days
October 24, 2012 V977676 $3,698,000 $-4,052,000 -52%
April 02, 2013 V977676 $3,950,000 $-3,800,000 -49%

v977676_1

Current Days on Market: 1135 (3.11years)
Current ‘Official’ Days on Market: 169
2012 Assessment: $2,470,000
Desperation Score: 11.9

Looking at the listing history, #1 and #2 are neighbouring homes owned by the same person.  They have had asking price drops of a combined $7.85 million until the recent yoyo rebound increasing the prices by $350K.  Combined they are still well over 50% ABOVE assessment

A magnificent 17,570 sq. ft. Waterfront estate with spectacular NW ocean, island & sunset views of Howe Sound and Bowen Island. Offering approx 105 ft of natural shoreline with an oceanside dock & terrace, this current res feat approx 3274 sq ft on 2 sprawling levels incl a large LR & DR, an open kitchen, 3 spacious bedrooms & large rec rm down. The value of this ppty is mainly in the land & can be purchased in conjunction with its neighbouring ppty (6951 Isleview Road) to create a World Class W/F compound or simply bought to develop your own custom residence. A full topographical survey & model is available. This is a truly spectacular building site & a very rare opportunity!


#1 ) Address:6951 ISLEVIEW RD, Whytecliff, West Vancouver

November 25, 2006 V622343 $5,500,000 $0 0%
January 08, 2007 V622343 removed after 44 days
April 20, 2007 V642170 $5,500,000 $0 0%
May 12, 2007 V642170 $4,995,000 $-505,000 -9%
September 05, 2007 V642170 removed after 138 days
September 14, 2007 V668162 $7,500,000 $0 0%
March 11, 2008 V668162 removed after 179 days
October 19, 2008 V740156 $6,800,000 $-700,000 -9%
February 06, 2009 V740156 removed after 110 days
February 15, 2009 V752381 $6,498,000 $-1,002,000 -13%
June 25, 2009 V752381 $5,250,000 $-2,250,000 -30%
August 11, 2009 V752381 removed after 177 days
August 20, 2009 V782689 $5,250,000 $-2,250,000 -30%
February 16, 2010 V782689 removed after 180 days
March 02, 2010 V812025 $5,495,000 $-2,005,000 -27%
March 10, 2010 V812025 $5,250,000 $-2,250,000 -30%
June 13, 2010 V812025 $4,895,000 $-2,605,000 -35%
September 22, 2010 V812025 removed after 204 days
September 24, 2010 V851752 $4,450,000 $-3,050,000 -41%
January 27, 2011 V851752 removed after 125 days
February 03, 2011 V866831 $4,450,000 $-3,050,000 -41%
February 11, 2011 V866831 $3,998,000 $-3,502,000 -47%
January 31, 2012 V866831 removed after 362 days
February 16, 2012 V931692 $3,998,000 $-3,502,000 -47%
June 01, 2012 V931692 removed after 106 days
October 24, 2012 V977719 $3,698,000 $-3,802,000 -51%
April 02, 2013 V977719 $3,800,000 $-3,700,000 -49%

v977719_1

Current Days on Market: 1635 (4.48years)
Current ‘Official’ Days on Market: 169
2012 Assessment: $2,673,000
Desperation Score: 11.9

A spectacular 16,690 sq ft Waterfront estate with breathtaking NW ocean, Island & mtn views of Howe Sound & Inner Islands. Offering approx 100 ft of natural shoreline with an oceanside dock & terrace, this gorgeous res has been extensively remodeled & offers 3373 sqft on 3 levels with lg entertainment rms, priv office, wine cellar, 3 spacious bedrooms incl a fabulous master & ensuite, custom gourmet kit feat lg island w/breakfast bar, E/A & professional appl. All rms open out to a sprawling seaside veranda overlooking the priv rock gardens & jaw-dropping views. Rare opportunity to develop your own custom res or live in the existing home as is. Neighbouring ppty 6945 Isleview is also for sale! Full topographical survey & model avail!