Desperation Meter – April 3, 2013

Here are the top 20 most desperate properties.  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.  The number in brackets after the address shows the previous ranking from 3 weeks ago

• White Rock tops the list again with 4 (and a 5th in 21st spot), West Vancouver and Vancouver West have 3 each and Coquitlam, Burnaby and Surrey each have 2
• 6 of the homes on the list are new builds
• 9 of the 19 homes with assessment data are currently priced under assessment

By the way, 200th post!  Wow that happened fast!

#20 ) Address:2885 WOODSIA PL, Westwood Plateau, Coquitlam (not ranked)

April 28, 2010	V825729	$948,000	$0	0%
June 13, 2010	V825729	$868,000	$-80,000	-8%
August 06, 2010	V825729	$838,000	$-110,000	-12%
November 09, 2010	V825729	removed after 195 days
February 10, 2011	V868373	$825,000	$-123,000	-13%
April 28, 2011	V868373	removed after 77 days
February 29, 2012	V933957	$821,000	$-127,000	-13%
March 24, 2012	V933957	$809,000	$-139,000	-15%
May 12, 2012	V933957	$799,900	$-148,100	-16%
May 25, 2012	V933957	$789,000	$-159,000	-17%
June 26, 2012	V933957	$779,000	$-169,000	-18%
July 25, 2012	V933957	$769,000	$-179,000	-19%
August 23, 2012	V933957	removed after 176 days
August 30, 2012	V968578	$755,000	$-193,000	-20%
October 02, 2012	V968578	$745,000	$-203,000	-21%
October 30, 2012	V968578	$735,000	$-213,000	-22%
November 27, 2012	V968578	removed after 89 days
December 01, 2012	V981656	$719,000	$-229,000	-24%
January 03, 2013	V981656	$699,900	$-248,100	-26%
February 07, 2013	V981656	$689,900	$-258,100	-27%
February 26, 2013	V981656	removed after 87 days
March 01, 2013	V993200	$689,900	$-258,100	-27%
March 23, 2013	V993200	$679,900	$-268,100	-28%

Current Days on Market: 401 (1.10years)
Current ‘Official’ Days on Market: 35
2012 Assessment: $794,000
Desperation Score: 39.0

Over 4,000 sqft home on a quiet cul-de-sac. Loads of upgrades and expensive granite work in the kitchen. Grand foyer featuring high ceilings and an elegant stairways leading to the upper floor. Many features including granite countertops, formal dining room, family room and room for the kids play area. Upstairs are 3 large bedrooms with a huge master complete with walk-in closet and a 5 piece ensuite. Downstairs is everything the playful family could want with a media room, exercise room, games room and another bedroom if you require it.

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#19 ) Address:420 N OXLEY ST, West Bay, West Vancouver (unlisted)

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%

Current Days on Market: 484 (1.33years)
Current ‘Official’ Days on Market: 7
2012 Assessment: $2,026,000
2011 Assessment: $1,855,000
Desperation Score: 39.2

Originally listed for 170% OVER assessment and now down 38% and $1.8 million but still 40% OVER assessment!

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.

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#18) Address:1136 DEVONSHIRE CR, Shaughnessy, Vancouver West (unlisted)

October 10, 2009	V792358	$2,150,000	$0	0%
January 03, 2010	V792358	removed after 85 days
March 07, 2010	V813507	$1,980,000	$-170,000	-8%
April 20, 2010	V813507	removed after 44 days
April 24, 2010	V824775	$1,798,000	$-352,000	-16%
May 26, 2010	V824775	removed after 32 days
August 20, 2011	V905968	$2,980,000	$0	0%
August 31, 2011	V905968	$2,850,000	$-130,000	-4%
October 17, 2011	V905968	removed after 58 days
October 20, 2011	V916490	$2,690,000	$-290,000	-10%
November 04, 2011	V916490	$2,980,000	$0	0%
February 22, 2012	V916490	$2,690,000	$-290,000	-10%
March 02, 2012	V916490	removed after 134 days
March 08, 2012	V935909	$2,480,000	$-500,000	-17%
April 18, 2012	V935909	removed after 41 days
September 22, 2012	V972802	$2,990,000	$0	0%
October 17, 2012	V972802	$2,880,000	$-110,000	-4%
January 28, 2013	V972802	removed after 128 days
February 01, 2013	V988156	$2,780,000	$-210,000	-7%
March 13, 2013	V988156	removed after 40 days
March 21, 2013	V996792	$2,680,000	$-310,000	-10%

Current Days on Market: 354 (0.97 years)
Current ‘Official’ Days on Market: 15
2012 Assessment: $2,395,000
2011 Assessment: $2,436,000

Last Sale: $2,450,000 on Apr 20, 2012

Total Profit IF sold for list price: 132,640 transaction costs and 230,000 profit on sale = PROFIT of $97,360
Desperation Score: 39.5

Purchased in April 2012 for $2.45 million and relisted 5 months later for $540K more…  I dug up the old listing and the renovations had already happened.  Best part of the previous listing was this comment in the description “WELL PRICED AND BE HURRY!”.  These flippers are in for a substantial loss

LOCATION, LOCATION. Charming character home in Shaughnessy area. Tastefully updated with new wood flooring & carpet. Designer cabinets in the foyer & dining area, stainless steel appliances. New kitchen, new bathrooms, designer paint. Gourmet kitchen with spacious eating area, skylights, sunroom, etc. North facing lot on quiet tree-lined street & southern exposure backyard. All measurements are approximate, buyer to verify if important.

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#17 ) Address:13011 250TH ST, Websters Corner, Maple Ridge (unlisted)

February 05, 2011	V867510	$739,000	$0	0%
May 01, 2011	V867510	removed after 85 days
May 06, 2011	V886416	$699,000	$-40,000	-5%
September 01, 2011	V886416	removed after 118 days
September 23, 2011	V911968	$669,000	$-70,000	-9%
January 31, 2012	V911968	$639,000	$-100,000	-14%
March 06, 2012	V911968	$629,900	$-109,100	-15%
June 13, 2012	V911968	$599,900	$-139,100	-19%
September 01, 2012	V911968	removed after 344 days
September 13, 2012	V970862	$599,000	$-140,000	-19%
September 27, 2012	V970862	removed after 14 days
September 29, 2012	V974231	$549,900	$-189,100	-26%
October 18, 2012	V974231	$509,900	$-229,100	-31%
November 01, 2012	V974231	$494,900	$-244,100	-33%
November 17, 2012	V974231	$489,900	$-249,100	-34%
December 28, 2012	V974231	removed after 90 days
March 27, 2013	V997631	$409,900	$-329,100	-45%

Current Days on Market: 790 (2.16years)
Current ‘Official’ Days on Market: 9
2012 Assessment: $525,000
2011 Assessment: $537,000
Desperation Score: 39.7

“Court Ordered Sale”, “no room bo build”, “Currently occupant has 2 large DOGS!! Do NOT go or walk on property without appointment!   Over 20% BELOW assessment and has been listed for over 2 years

Court Ordered Sale – Alouette Estates. 1.77 acre property backing directly on steep ravine, cree, & forest. 15 yr old, 2 storey home featuring 4 bedrooms plus family room up, located on quiet C-D-S. Home floor plan is extremely narrow & requires updating throughout. 77,406 square foot lot, but only 8000 square foot building platform. Absolutely no room bo build larger home, shop or out buildings. Currently occupant has 2 large DOGS!! Do NOT go or walk on property without appointment from listing realtor. Property is SOLD on ‘as is, where is’ basis.

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#16 ) Address:# 402 15164 PROSPECT AV, White Rock, White Rock (not ranked)

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%

Current Days on Market: 722 (1.98years)
Current ‘Official’ Days on Market: 134
2012 Assessment: $1,029,000
2011 Assessment: $1,052,000
Desperation Score: 40.2

Another home about to reach its second birthday in days on market and over 20% BELOW assessment after 49% in price cuts

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.

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

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%

Current Days on Market: 259 (0.71years)
Current ‘Official’ Days on Market: 259
2012 Assessment: $1,734,000
2011 Assessment: $1,654,000
Desperation Score: 40.3

Tried playing some yo-yo pricing games to no avail

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.

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#14 ) Address:5411 MYTKO CR, Lackner, Richmond (was #12)

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%

Current Days on Market: 433 (1.19years)
Current ‘Official’ Days on Market: 77
2012 Assessment: $884,000
2011 Assessment: $900,000
Desperation Score: 40.8

“Priced to sell.” – a Richmond home listed for over assessment is generally not considered 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 24th 2-4pm.

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

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%

Current Days on Market: 218 (0.60years)
Current ‘Official’ Days on Market: 36
2012 Assessment: $1,027,000
Desperation Score: 41.3

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…  

Commentor youtoldus.so added “Reality is that that owner or guests can’t park in front of the house. Also note high voltage overhead power lines for easy access to electricity.” and Landbaron added “One of the pictures even says “new pole going in”…..even closer to the house now, sweet!”

CAPITOL HILL VIEW 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, tile, two F/P’s plus heated floors for cozy warmth. Detached garage with lane access. Comes with balance of 2-5-10 warranty.

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

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%

Current Days on Market: 527 (1.44years)
Current ‘Official’ Days on Market: 36
2012 Assessment: $4,686,000
Desperation Score: 43.4

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…

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#11 ) Address:14058 KING RD, Bolivar Heights, North Surrey (not ranked)

October 06, 2006	F2621883	$299,900	$0	0%
November 10, 2006	F2621883	removed after 35 days
March 16, 2007	F2706058	$299,000	$-900	0%
June 08, 2007	F2706058	removed after 84 days
July 14, 2007	F2718253	$289,000	$-10,900	-4%
November 10, 2007	F2718253	$269,000	$-30,900	-10%
March 12, 2008	F2718253	$264,000	$-35,900	-12%
July 01, 2008	F2718253	removed after 353 days
July 22, 2008	F2821958	$264,000	$-35,900	-12%
October 31, 2008	F2821958	removed after 101 days
January 16, 2009	F2900788	$260,000	$-39,900	-13%
March 11, 2009	F2900788	removed after 54 days
May 05, 2009	F2907898	$260,000	$-39,900	-13%
January 03, 2010	F2907898	removed after 243 days
January 13, 2010	F1000852	$255,000	$-44,900	-15%
February 08, 2010	F1000852	removed after 26 days
April 18, 2010	F1010467	$270,000	$-29,900	-10%
May 12, 2010	F1010467	$257,000	$-42,900	-14%
May 30, 2010	F1010467	removed after 42 days
June 13, 2010	F1016128	$269,000	$-30,900	-10%
June 16, 2010	F1016128	removed after 3 days
June 22, 2010	F1017696	$259,900	$-40,000	-13%
July 22, 2010	F1017696	$254,900	$-45,000	-15%
November 01, 2010	F1017696	removed after 132 days
January 25, 2011	F1101800	$250,000	$-49,900	-17%
April 29, 2011	F1101800	removed after 94 days
May 25, 2012	F1213537	$1,230,000	$0	0%
June 23, 2012	F1213537	$998,875	$-231,125	-19%
July 16, 2012	F1213537	removed after 52 days
August 11, 2012	F1220515	$985,000	$-245,000	-20%
November 23, 2012	F1220515	$899,000	$-331,000	-27%
February 01, 2013	F1220515	removed after 174 days
February 09, 2013	F1303122	$870,000	$-360,000	-29%
March 16, 2013	F1303122	$849,900	$-380,100	-31%
March 27, 2013	F1303122	removed after 46 days
April 02, 2013	F1307387	$799,000	$-431,000	-35%

Current Days on Market: 315 (0.86years)
Current ‘Official’ Days on Market: 3
2012 Assessment: $784,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 44.5

NO HST 5400 sq.ft Living space on 11,000 sq.ft LOT Custom BUILT in 2012 for LARGE family, check out the VIEWS from 4 four balconies from the upstairs bedrooms give you plenty of opportunities to take advantage of the views. 9 bdrms total 4 large bedrooms all having ensuite bathrooms. Bonus Guest room w/ensuite on main+DEN. Downstairs features 400+sq.ft Theatre Room under SUSPENDED SLAB. TWO large 2+2 bdrm ABOVE GROUND unauth.bsment suites. Walking distance to IQRA Islamic school, easy access South perimiter Road, Bridges. * PREC – Personal Real Estate Corporation

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

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%
March 16, 2013	F1303060	$1,148,837	$-151,063	-12%

Current Days on Market: 741 (2.03years)
Current ‘Official’ Days on Market: 55
2012 Assessment: $1,212,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 44.9

More yo-yo pricing… note to owners, that doesn’t work in down markets.  All it does is lose you potential sales in a rapidly dwindling potential buyer pool

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

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#9 ) Address:2276 MADRONA PL, King George Corridor, White Rock (not ranked)

September 11, 2010	F1023395	$339,900	$0	0%
September 22, 2010	F1023395	$354,900	$0	0%
November 02, 2010	F1023395	removed after 52 days
January 13, 2012	F1200928	$988,000	$0	0%
March 31, 2012	F1200928	removed after 78 days
April 05, 2012	F1208485	$900,000	$-88,000	-9%
April 20, 2012	F1208485	$925,000	$-63,000	-6%
June 30, 2012	F1208485	removed after 86 days
July 07, 2012	F1217533	$988,000	$0	0%
August 31, 2012	F1217533	$986,000	$-2,000	0%
October 03, 2012	F1217533	removed after 88 days
October 10, 2012	F1225064	$986,000	$-2,000	0%
November 23, 2012	F1225064	$968,000	$-20,000	-2%
January 01, 2013	F1225064	removed after 83 days
January 06, 2013	F1300215	$958,000	$-30,000	-3%
February 21, 2013	F1300215	$898,800	$-89,200	-9%
March 08, 2013	F1300215	$998,800	$0	0%
March 13, 2013	F1300215	$949,900	$-48,900	-5%
March 21, 2013	F1300215	$899,900	$-98,900	-10%

Current Days on Market: 448 (1.23years)
Current ‘Official’ Days on Market: 89
2012 Assessment: $955,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 45.3

And more yo-yo’s…  Still listed higher than it was in February after 2 price drops in March

Built by Marquis Homes. Brand new 2 storey and finished basement home. 19′ ceilings in great room. 10′ high ceiling on main floor and 9′ on other 2 floors. Den on main. 2 master bedrooms, one on main floor and 2nd on upper floor. Finest finishing with wide baseboards and crown moldings. Quartz countertops. Fully finished basement with separate entry. Roughed in for heat pump and air conditioning. Walking distance to shops. 2-5-10 years National Home Warranty. Price does not include GST/HST

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#8 ) Address:5520 MCCOURT RD, Sechelt, Sunshine Coast (not ranked)

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%

Current Days on Market: 267 (0.73years)
Current ‘Official’ Days on Market: 267
2012 Assessment: Unknown
Desperation Score: 45.6

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).

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

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%

Current Days on Market: 397 (1.09years)
Current ‘Official’ Days on Market: 41
2012 Assessment: $1,945,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 45.9

New build in Kerrisdale still above the pricing from last June where it didn’t sell.  If it didn’t sell for $1.88 million last June then it won’t sell for $1.7 million today

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.

 

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#6 ) Address:918 CHARLAND AV, Coquitlam West, Coquitlam (was #11)

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%
April 03, 2013	V994795	$1,148,000	$-451,000	-28%

Current Days on Market: 399 (1.09years)
Current ‘Official’ Days on Market: 26
2012 Assessment: $1,151,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 48.3

Natalie let us know 2 weeks ago that this unit was “on HOLD ALL ACTION as of March 18.” but has now gone through another price drop.  Who builds a home with 9 bedrooms, 8 bathrooms and 4 kitchens in Coquitlam???

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!

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

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%

Current Days on Market: 418 (1.15years)
Current ‘Official’ Days on Market: 82
2012 Assessment: $1,003,000
2011 Assessment: $1,017,000
Desperation Score: 48.9

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

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

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%

Current Days on Market: 175 (0.48years)
Current ‘Official’ Days on Market: 14

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 128,000 profit on sale = PROFIT of $65,800

Desperation Score: 49.5

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 – oh wait, they just RAISED the price!!!  Great plan, it will help ensure that you lose even more money

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.

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#3 ) Address:5726 ANGUS DR, South Granville, Vancouver West (unlisted)

April 03, 2010	V819583	$1,999,000	$0	0%
April 27, 2010	V819583	$1,799,000	$-200,000	-10%
June 29, 2010	V819583	removed after 87 days
August 22, 2010	V846838	$1,698,000	$-301,000	-15%
November 19, 2010	V846838	removed after 89 days
November 21, 2012	V980736	$2,888,000	$0	0%
February 21, 2013	V980736	$2,688,000	$-200,000	-7%
March 12, 2013	V980736	removed after 111 days
March 21, 2013	V996799	$1,999,000	$-889,000	-31%
March 27, 2013	V996799	$2,788,000	$-100,000	-3%
March 29, 2013	V996799	$2,288,000	$-600,000	-21%

Current Days on Market: 135 (0.37years)
Current ‘Official’ Days on Market: 15
2012 Assessment: $2,019,000
2011 Assessment: $2,167,000
Desperation Score: 49.7

So many grammar mistakes that I won’t bother to point them out.  They drop the price below $2 million and state that “All offers to be submitted by March 22nd before 6 PM”.  Unfortunately nobody comes so they raise the price by $800K before dropping it by $500K 2 days later.  “House needs refurbishment”…

SOUTH GRANVILLE – THIS IS AN EXCELLENT OPPORTUNITY to Hold, RENOVATED or BUILD YOUR DREAM HOME, Surrounded by Many Multi Millions Dollars Luxury Homes. Located in the most desirable South Granville area. LARGE level 75’5 x 127′ (almost 10,000 sq ft) LOT on the corner of Angus Dr. & W. 41st Ave, Close to the best public & private schools, park, recreation, restaurant & Kerrisdale Village shopping. Schools Catchment: Maple Grove Elementary, Magee Secondary School. Value is in the land only. This property is being sold in “as is, where is” condition. House needs refurbishment. All offers to be submitted by March 22nd before 6 PM.

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

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%
March 28, 2013	F1301213	$1,398,000	$-782,000	-36%

Current Days on Market: 1431 (3.92years)
Current ‘Official’ Days on Market: 76
2012 Assessment: $1,377,000
2011 Assessment: $1,237,000
Desperation Score: 50.2

As we found last time: MORE LIES!!!  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 and now it is down to $4500 in the advertisement!!!

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.

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

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%

Current Days on Market: 386 (1.06years)
Current ‘Official’ Days on Market: 5
2012 Assessment: $2,481,000
2011 Assessment: $2,279,000
Desperation Score: 58.1

Sorry, changing the picture and raising the price by $2K isn’t going to change anything…  Your pricing was completely ridiculous and greedy at a time when people were buying these types of homes and now that nobody is you are probably going to sell the place for more than $1 million less than you could have in early 2012

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.