Vancouver Price Drop

Documenting Vancouver real estate price movements

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

Abbotsford makes the list 4 times and Mission comes in with 3


#10 ) Address:# 314 32025 TIMS AV, Abbotsford West, Abbotsford

October 24, 2007 F2727375 $119,000 $0 0%
November 08, 2007 F2727375 $109,000 $-10,000 -8%
November 29, 2007 F2727375 $104,900 $-14,100 -12%
January 31, 2008 F2727375 $98,500 $-20,500 -17%
February 26, 2008 F2727375 $96,500 $-22,500 -19%
March 26, 2008 F2727375 removed after 154 days
October 24, 2012 F1226040 $98,500 $-20,500 -17%
January 23, 2013 F1226040 removed after 91 days
April 05, 2013 F1307621 $73,900 $-45,100 -38%

f1307621_1

Current Days on Market: 168 (0.46years)
Current ‘Official’ Days on Market: 5
2012 Assessment: $76,800
Desperation Score: 11.7

Where do we start… first of all they dropped this from the description “Age restricted to 55+, no pets, no rentals allowed.” – that’s fairly important information.  Next they talk about how quiet it is because nobody lives underneath you but then “(the exercise room is directly below)” – an exercise room underneath you on a building like this is right up there with aspiring rock band in terms of noise caused by neighbours.  Finally they mention they paid $30K more in 2009.  I suppose it is possible that there was a private sale but more likely the sale was in early 2008 and the purchase price was probably around $95K so about $20K over the current asking price.  Is that such a big deal?  I think so, it is a blatant lie in a description that seems riddled with half truths

Are you looking for a quiet place to call home? Then look no further. This beautiful and clean condo is on the top floor of the building, is on the quiet side of the building, has nobody living below (the exercise room is directly below), and is waiting for you to move home. Your new home has a covered deck, with a near 180 degree northern mountain view, cork floor in the front entrance and hallway, has in suite laundry, and the building received a new roof in the summer of 2012. Your new home is on SALE! The current owners paid $30,000 more than asking price in 2009. Don’t delay call today for your personal viewing.


#9 ) Address:35933 PATTISON RD, Durieu, Mission

May 16, 2009 F2910477 $350,000 $0 0%
June 11, 2009 F2910477 removed after 26 days
January 20, 2010 F1001498 $495,000 $0 0%
July 15, 2010 F1001498 removed after 176 days
March 20, 2012 F1207002 $399,900 $-95,100 -19%
November 01, 2012 F1207002 removed after 226 days
April 07, 2013 F1307568 $305,000 $-190,000 -38%

f1307568_1

Current Days on Market: 386 (1.06years)
Current ‘Official’ Days on Market: 3
2012 Assessment: $288,200
Desperation Score: 16.7

3 Acres and only 11 minutes to town! So much for so little! This special home has what you need, wide open spaces outside and in. An inviting, mature home that features an open floor plan on the main with a cozy bedroom above. Warm wood floors, a wood burning fireplace, laundry and a 4 piece bathroom. A little TLC will go a long way on this beautiful acreage with a creek, small goldfish pond, and scenery as lush and relaxing as it gets! Lots of room to make additions. Included is a 16×16 hobby shop, 10×11 greenhouse, lean to, and a chicken coop. Want to own acreage? Thought it was too expensive? This opportunity is waiting for you, call today!


#8 ) Address:# 202 2414 CHURCH ST, Abbotsford West, Abbotsford

October 11, 2007 F2726149 $149,900 $0 0%
January 04, 2008 F2726149 removed after 85 days
October 05, 2012 F1224196 $114,900 $-35,000 -23%
October 19, 2012 F1224196 $108,900 $-41,000 -27%
November 02, 2012 F1224196 removed after 28 days
March 29, 2013 F1307213 $89,900 $-60,000 -40%

f1307213_1

Current Days on Market: 187 (0.51years)
Current ‘Official’ Days on Market: 12
2012 Assessment: $93,800
Desperation Score: 17.5

Great Deal & Location. Spacious 991 sq.ft suite in Autumn Terrace. This lovely 2 bedroom, 1 bath unit comes with a beautiful enclosed balcony with security screening to provide privacy. Well maintained with updated paint and flooring. Nice sized rooms plus lots of storage. Insuite laundry and all appliances included. Located in the heart of Clearbrook-within easy distance of shopping and transit. Building is a 55+ with no rentals and no pets. Call and view today.


#7 ) Address:# 1 33293 E BOURQUIN CR, Central Abbotsford, Abbotsford

March 30, 2010 F1008286 $190,000 $0 0%
April 21, 2010 F1008286 removed after 22 days
June 30, 2011 F1116565 $239,000 $0 0%
July 27, 2011 F1116565 $232,000 $-7,000 -3%
August 24, 2011 F1116565 removed after 55 days
August 25, 2011 F1121456 $209,900 $-29,100 -12%
November 02, 2011 F1121456 $199,900 $-39,100 -16%
February 29, 2012 F1121456 removed after 188 days
June 25, 2012 F1216474 $194,900 $-44,100 -18%
July 26, 2012 F1216474 $182,000 $-57,000 -24%
September 21, 2012 F1216474 $174,900 $-64,100 -27%
November 20, 2012 F1216474 removed after 148 days
April 07, 2013 F1307706 $142,500 $-96,500 -40%

f1307706_1

Current Days on Market: 650 (1.78years)
Current ‘Official’ Days on Market: 3
2012 Assessment: $211,300
Desperation Score: 18.1

This one is now over 30% below assessment with this most recent price drop after close to 2 years of being listed

Brighton Court. Plenty of space but plenty of work required. 5 level split townhouse requires cleaning, paint, flooring, cabinets and more. 1,530 sq. ft. of living space including plus 266 sq. ft. of storage space in unfinished basement. Corner location, large fenced yard and strata fees include heat & hot water. Complex features a newer roof, vinyl siding & vinyl windows. Centrally located close to Mill Lake Park, Seven Oaks Mall, Bus loop and schools. 2 pets okay, cats & dogs, rentals not permitted. * PREC – Personal Real Estate Corporation


#6 ) Address:36938 DAWSON RD, Abbotsford East, Abbotsford

October 31, 2007 F2728020 $1,600,000 $0 0%
January 10, 2008 F2728020 $1,350,000 $-250,000 -16%
May 01, 2008 F2728020 removed after 183 days
June 18, 2008 F2818302 $1,150,000 $-450,000 -28%
October 16, 2008 F2818302 removed after 120 days
March 05, 2010 F1005823 $979,000 $-621,000 -39%
May 29, 2010 F1005823 $895,000 $-705,000 -44%
November 01, 2010 F1005823 removed after 241 days
March 28, 2013 F1306998 $949,000 $-651,000 -41%

f1306998_1

Current Days on Market: 13 (0.04years)
Current ‘Official’ Days on Market: 13
2012 Assessment: $756,000
Desperation Score: 5.4

10 acre property with large, older rancher style house. Lots of room to build your dream home on this gently rolling property and it a great investment opportunity! Not in the ALR! Located not far from current development in the Straiton area. Only one way for residential development to expand in Abbotsford and this property is in that direction. The property is mostly treed with some selective clearing.


#5 ) Address:32645 RICHARDS AV, Mission BC, Mission

July 22, 2010 F1019955 $824,900 $0 0%
August 25, 2010 F1019955 $749,000 $-75,900 -9%
September 21, 2010 F1019955 $699,000 $-125,900 -15%
November 06, 2010 F1019955 $649,900 $-175,000 -21%
January 25, 2011 F1019955 $599,900 $-225,000 -27%
May 03, 2011 F1019955 $629,900 $-195,000 -24%
June 22, 2011 F1019955 removed after 335 days
April 09, 2012 F1208602 $629,000 $-195,900 -24%
June 28, 2012 F1208602 $585,000 $-239,900 -29%
August 31, 2012 F1208602 removed after 144 days
September 15, 2012 F1222988 $549,900 $-275,000 -33%
January 18, 2013 F1222988 removed after 125 days
January 20, 2013 F1301374 $499,000 $-325,900 -40%
February 22, 2013 F1301374 $489,000 $-335,900 -41%
April 03, 2013 F1301374 $475,000 $-349,900 -42%

f1301374_1

Current Days on Market: 366 (1.00years)
Current ‘Official’ Days on Market: 80
2012 Assessment: $581,000
Desperation Score: 28.0

“BETTER THAN HOT CHOCOLATE WITH WHIPPED CREAM”

BETTER THAN HOT CHOCOLATE WITH WHIPPED CREAM is this 7.84 potentially-subdividable south-facing acres in a popular area! An open & bright property, the split-entry home is set well back from the road. There’s a carport, storage shed, and across the creek over a land bridge and past the pond is a large pole barn with half mezz. The barn is suitable for critters, or to finish into a workshop. The fair condition home has been partially renovated on the main, with fresh paint, new laminate flooring and other touches. Three bedrooms up, bright kitchen and dining area, access to the sundeck. The living room has a floor to ceiling brick-backed wood burning fireplace. The recroom down has the same, except with a wood burning insert for wood stove effect. Just needs flooring and a few other touches down. Roughed in bath, bedroom, den, laundry, recroom and more. If you have your own Realtor please view with them, but otherwise give us a call. * PREC – Personal Real Estate Corporation

 


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

December 04, 2008 F2833037 $119,900 $0 0%
January 15, 2009 F2833037 $129,900 $0 0%
January 22, 2009 F2833037 removed after 49 days
January 23, 2009 F2901227 $119,000 $-10,900 -8%
February 17, 2009 F2901227 removed after 25 days
June 19, 2010 F1017462 $129,900 $0 0%
December 01, 2010 F1017462 removed after 165 days
May 17, 2011 F1112771 $129,900 $0 0%
June 25, 2011 F1112771 $119,999 $-9,901 -8%
February 01, 2012 F1112771 removed after 260 days
February 22, 2012 F1204508 $105,900 $-24,000 -18%
October 03, 2012 F1204508 removed after 224 days
December 10, 2012 F1228559 $89,000 $-40,900 -31%
January 05, 2013 F1228559 $85,900 $-44,000 -34%
January 25, 2013 F1228559 $79,990 $-49,910 -38%
February 15, 2013 F1228559 $77,000 $-52,900 -41%
March 02, 2013 F1228559 $74,900 $-55,000 -42%
March 08, 2013 F1228559 removed after 88 days
March 27, 2013 F1306852 $72,500 $-57,400 -44%

f1306852_1

Current Days on Market: 1026 (2.81years)
Current ‘Official’ Days on Market: 14
2012 Assessment: $89,100
2011 Assessment: $91,300
Desperation Score: 25.0

The California Condo makes its way back into our lists once again on its way to being listed for 3 years

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


#3 ) Address:13011 250TH ST, Websters Corner, Maple Ridge

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%

v997631_1

Current Days on Market: 795 (2.18years)
Current ‘Official’ Days on Market: 14
2012 Assessment: $525,000
2011 Assessment: $537,000
Desperation Score: 39.4

“Court Ordered Sale” “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.”.  Listed for over 2 years and now over 20% BELOW assessment

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.


#2 ) Address:# 6 9055 SHOOK RD, Hatzic, Mission

March 17, 2010 F1006919 $334,800 $0 0%
April 13, 2010 F1006919 $309,800 $-25,000 -7%
March 10, 2011 F1006919 removed after 358 days
April 28, 2011 F1110778 $224,900 $-109,900 -33%
August 31, 2011 F1110778 removed after 125 days
October 08, 2011 F1125050 $222,888 $-111,912 -33%
January 07, 2012 F1125050 $216,888 $-117,912 -35%
May 01, 2012 F1125050 removed after 206 days
May 04, 2012 F1211524 $200,000 $-134,800 -40%
July 16, 2012 F1211524 removed after 73 days
April 05, 2013 F1307478 $175,000 $-159,800 -48%

f1307478_1

Current Days on Market: 5 (0.01years)
Current ‘Official’ Days on Market: 5
2012 Assessment: $139,000
Desperation Score: 12.1

Quiet and Convenient location. Only 5 minutes from town, and only 50 yards from lake-front, this 4 bedroom home is in a quiet, secure community where neighbours look out for neighbours! Of the 43 lots in this strata-like community, about 1/3 are occupied year-round, about 1/3 are summer homes, and 1/3 are vacant lots. Low fee of $450/yr includes water and maint. of common areas, which includes a dock, a covered picnic area in the beach-front park, and a play field complete with playground, out house and kitchen, great for those summer family gatherings. Price reflects that the house needs a few updates to be a real gem again. Come see for yourself!


#1 ) Address:115 194TH ST, Hazelmere, White Rock

May 09, 2010 F1013115 $3,500,000 $0 0%
July 20, 2010 F1013115 $2,900,000 $-600,000 -17%
October 13, 2010 F1013115 removed after 157 days
March 23, 2011 F1107600 $2,500,000 $-1,000,000 -29%
August 17, 2011 F1107600 removed after 147 days
October 04, 2011 F1124637 $1,988,000 $-1,512,000 -43%
February 09, 2012 F1124637 removed after 128 days
June 09, 2012 F1215027 $1,898,000 $-1,602,000 -46%
September 20, 2012 F1215027 removed after 103 days
October 01, 2012 F1224271 $1,858,800 $-1,641,200 -47%
March 27, 2013 F1224271 $1,798,800 $-1,701,200 -49%

f1224271_1

Current Days on Market: 1067 (2.92years)
Current ‘Official’ Days on Market: 191
2012 Assessment: Assessment: Farm Land
Desperation Score: 20.6

Most of the price drops on this property happened a couple of years ago – I suppose they had High Point fever and decided their land was worth $700K/acre but that didn’t pan out.  Resales and sales of custom builds at High Point are 100% dead – as far as I can tell, 1 sale in the last 18 months not including lot sales and there is substantial inventory.

5 Acres NON ALR in Hazelmere adjacent to High Point SD on 0 Ave. Flat land, no creeks. Private corner of cul-de-sac w/2 road frontages. 3 bed, 3 bath rancher, fully fenced yard. Run as a 15 horse boarding business: professionally built lighted indoor arena (120×70) w/sprinkler syst, professionally built outdoor jumping sand ring, 12 stall barn w/all services & hay loft plus equipment storage facility w/2 stalls & space for farm equipment. City approved so add’l 9 stall barn could be built. Possible to subdivide off 2 acres to build new house & keep 3 AC w/existing uses. Good income. Farm status Taxes only $900 per yr. Future dev potential.

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5 responses to “Weekly Drop Suburbs – April 9, 2013

  1. Anon April 11, 2013 at 9:14 am

    For #1, how much would it have cost the realtor to list it like this over the last 3 years?
    Thanks.

    • Natalie April 11, 2013 at 12:33 pm

      There have been five different Realtors listing this property over the duration of almost three years. Costs to each Realtor would be individual based on the type and amount of advertising they have used to try and sell it. If you really wanted to be accurate, you would also have to impute a dollar amount for all the leg work and operating costs, costs of supplies etc spent on this as well. The realtor absorbs the costs as there is no payment unless the property sells. Listing fees would be minimal as it did not sell.

  2. chibidani April 14, 2013 at 9:24 pm

    #2 would almost be tempting AT assessment, but they’re not asking that… Also, wood paneling? Really?

    #9 “a mature home” – the new way of saying its old and probably needs some work!

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