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.

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#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%

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.

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#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%

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).

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#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%

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.

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#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%

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!

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#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%

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

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#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%

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

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#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%

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.

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#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%

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.*

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#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.

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#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%

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!