Vancouver Price Drop

Documenting Vancouver real estate price movements

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!

 

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11 responses to “Weekly Drop Metro Vancouver Detached – April 9, 2013

  1. Spiltbongwater April 12, 2013 at 12:11 pm

    #7) I thought the realtors caps lock was broken , but not sure how to type a . or , without releasing the caps lock. Whould add something for desperation meter when discription is written in such a fashon.

  2. Landbaron April 12, 2013 at 2:35 pm

    If #10 drops down to assessment does anyone want to split it with me, it’s gorgeous! Indian Arm does feel like another world so close to the city…sigh, if only

    • HowLowCanYouGo April 12, 2013 at 7:05 pm

      If you look on MLS there are currently 5 houses on Indian Arm that are in the 500-650K range (I was considering getting one…and may still at some point). I have no idea why that one is listed so high (it does have a bit higher square footage and significantly more land than the others, but triple the cost? Pffffft).

  3. Surrey Girl April 13, 2013 at 9:14 am

    Love your blog!

  4. RFM April 13, 2013 at 9:19 am

    Regarding #5

    I regularly see this senseless yo-yo pricing, so I updated my thoughts on pricing property in a declining market to include that topic.

    http://vancouverpeak.com/Thread-Pricing-Property-in-a-Declining-Market

  5. MaxPower April 13, 2013 at 4:45 pm

    #8: The office shot shows us that someone is rather good at something – and wants everyone to know it.

    • Landbaron April 13, 2013 at 10:34 pm

      I clicked on #8’s listing quickly without looking at the address thinking it was in WV. Some nice pictures and views but still bloody expensive I thought.

      Then I realized it was Richmond, on the water, and laughed and laughed…

      That is a serious amount of trophies in the office, it looks like my bedroom when I was 14 when we won trophies for just showing up to shit. Must be a realtor.

  6. RFM April 15, 2013 at 7:36 am

    The dominos start to fall: SFR Project on indefinite hold in Van West!

    This is a property I have been watching for some time: 4988 Chancellor Boulevard in University, Vancouver West. A 7,700 square foot lot with an old house in an exclusive area of mostly older homes, with a few new builds.

    Sold under MLS V951758 in June 2012 for about $2,600,000 (listing was at $2,688,000); by June 2012, properties in Van West were already coming under some price pressure.

    After it was sold, a sign appeared on the site, advertising a new 4,500 square foot modern architectural home to be ‘built in 2013′ with completion by 2014, priced at $5,188,000 under V989612 (still active, but listing now says ‘completion in 18-24 months’).

    However, after about 6 weeks the sign disappeared and from June 2012 through last week the house was vacant and there were no signs of construction. Then last week (April 10), several large U-Haul trucks arrived and a pickup toting a boat. Now, there is furniture in the house, a new ‘beware of dog’ sign on the front and from the shoes outside the front door, it appears it has been rented to a family (plates on vehicles are BC). Normally, a family doesn’t move lock, stock and barrel into a house on a month-to-month tenancy, so I’m guessing they have a longer lease, but I cannot find a rental listing.

    The developer of the new house, Natural Balance Premium Home Builders, does not list this house on its website (http://www.naturalbalancehomes.com/default.htm) and the purported architect, Frits de Vries, website does not mention this project (http://www.frits.ca/index.html).

    My best guess: this property is now an ‘investment hold’ and will be built ‘when the prices recover.’

    Good luck on that!

  7. James April 16, 2013 at 9:41 am

    Just noticed that the date in the subject line needs to be updated.

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