Vancouver Price Drop

Documenting Vancouver real estate price movements

Monthly Archives: June 2013

Drop From Peak Chart – May 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

Vancouver is clearly acting differently than the US cities in the sample.  It started off with a very fast drop rivaled only by Miami but now we are at 4 consecutive months of increases.  San Diego increased in 4 out of 5 months at one point during the first year and Boston hit 5 in a row in its second year but it definitely isn’t the norm.  The MLS HPI shows an increase of 2.8% in those 4 months while the Teranet HPI for Vancouver shows an increase of 1.4% for those same months – something still seems fishy about the HPI calculations and manual adjustments that are made.

Regardless, although I did expect the standard seasonal small increases or flat results, these results were not expected.  That being said, I think the perfect storm is still rolling along and gaining even more steam.  Interest rates are increasing, the Chinese economy is showing a lot of weakness and demand for homes above $1 million is dwindling.  We’ll see what the coming months bring but personally I expect a double digit drop over the next 12 months in the HPI.  In fact, in year 2 of their drops (which we have officially entered), the average US city saw their index drop 19% followed by another 15% over the next 7 months.

Capture

Richmond Spotlight – June 25, 2013

Here are the top 10 most desperate properties in Richmond

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.


#10 ) Address:9291 DIAMOND RD, Seafair, Richmond

October 06, 2006 V603614 $499,000 $0 0%
October 29, 2006 V603614 $476,000 $-23,000 -5%
January 16, 2007 V603614 $448,000 $-51,000 -10%
February 05, 2007 V603614 removed after 122 days
November 30, 2007 V679614 $1,198,000 $0 0%
May 02, 2008 V679614 removed after 154 days
May 17, 2008 V707101 $1,178,000 $-20,000 -2%
June 10, 2008 V707101 removed after 24 days
June 13, 2008 V715841 $1,178,000 $-20,000 -2%
August 06, 2008 V715841 removed after 54 days
August 08, 2008 V726956 $1,099,000 $-99,000 -8%
September 18, 2008 V726956 $1,078,000 $-120,000 -10%
September 19, 2008 V726956 $1,048,000 $-150,000 -13%
October 10, 2008 V726956 removed after 63 days
January 20, 2012 V926455 $1,790,000 $0 0%
April 17, 2012 V926455 $1,690,000 $-100,000 -6%
May 31, 2012 V926455 removed after 132 days
June 04, 2012 V954271 $1,650,000 $-140,000 -8%
November 01, 2012 V954271 removed after 150 days
November 16, 2012 V980239 $1,597,000 $-193,000 -11%
December 15, 2012 V980239 $1,587,000 $-203,000 -11%
February 26, 2013 V980239 $1,545,000 $-245,000 -14%
April 10, 2013 V980239 $1,519,000 $-271,000 -15%
May 12, 2013 V980239 removed after 177 days
May 25, 2013 V1008954 $1,550,000 $-240,000 -13%
June 15, 2013 V1008954 $1,498,000 $-292,000 -16%

v1008954_1

Current Days on Market: 523 (1.43years)
Current ‘Official’ Days on Market: 32
2012 Assessment: $1,545,000
2011 Assessment: $1,450,000
Desperation Score: 35.4

A recent price increase did not seem to work so now listed below assessment

Like new 3300 sq ft home, very well maintained in popular West Richmond Seafair. Bright and very practical floor plan with an extremely big wok kitchen. This home contains 5 bedrooms plus den with 4 full bathrooms. Good quality built house with granite counters in kitchen, maple cabinets throughout the bathrooms, living room and family room contains high ceilings and much more. South West exposed backyard, steps to Hugh Boyd School, Dixon Elementary, Seafair Mall and public transportation.


#9 ) Address:9751 PIGOTT RD, Saunders, Richmond

October 06, 2006 V611405 $539,000 $0 0%
December 11, 2006 V611405 removed after 66 days
May 19, 2007 V648001 $559,000 $0 0%
May 28, 2007 V648001 removed after 9 days
July 19, 2007 V659779 $589,000 $0 0%
November 06, 2007 V659779 removed after 110 days
June 01, 2008 V712916 $1,368,000 $0 0%
July 15, 2008 V712916 removed after 44 days
July 17, 2008 V722667 $1,299,000 $-69,000 -5%
October 18, 2008 V722667 $1,238,000 $-130,000 -10%
November 25, 2008 V722667 $1,198,000 $-170,000 -12%
December 09, 2008 V722667 removed after 145 days
December 11, 2008 V746154 $1,188,000 $-180,000 -13%
January 14, 2009 V746154 $1,099,000 $-269,000 -20%
February 07, 2009 V746154 removed after 58 days
January 13, 2012 V925091 $1,980,000 $0 0%
March 01, 2012 V925091 removed after 48 days
March 04, 2012 V935278 $1,930,000 $-50,000 -3%
March 17, 2012 V935278 $1,880,000 $-100,000 -5%
May 01, 2012 V935278 $1,799,800 $-180,200 -9%
June 21, 2012 V935278 removed after 109 days
July 22, 2012 V963363 $1,730,000 $-250,000 -13%
October 09, 2012 V963363 removed after 79 days
October 13, 2012 V976440 $1,798,000 $-182,000 -9%
January 10, 2013 V976440 $1,698,000 $-282,000 -14%
April 01, 2013 V976440 removed after 170 days
April 12, 2013 V1000708 $1,680,000 $-300,000 -15%
June 19, 2013 V1000708 $1,580,000 $-400,000 -20%

v1000708_1

Current Days on Market: 530 (1.45years)
Current ‘Official’ Days on Market: 75
2012 Assessment: $1,827,000
2011 Assessment: $1,787,000
Desperation Score: 35.4

“must be sold.” – 13% below assessment and still no takers.  Now listed only $200K more than the lot had been originally listed for back in 2008

Bright and spacious custom built deluxe home in the most desirable “Broadmoor” neighborhood area. High ceilings, gorgeous spiral stairs and crystal chandeliers in the living room, open concept floor plans. High-end cabinetry &top of the line stainless steel appliances of the gourmet kitchen, granite counter tops, central air-conditioning, radiant heat and hot water heat, spacious wok kitchen, luxurious master ensuite with steam shower and jacuzzi hot tub. Secured fenced park-like garden back yard, minutes walk to McRoberts senior secondary school, South Arm Community Centre, Broadmoor shopping centre, close to transit and Canada line station. Huge lot with beautiful street appeal, must be sold.


#8 ) Address:# 310 4111 BAYVIEW ST, Steveston South, Richmond

May 04, 2012 V947557 $879,000 $0 0%
May 11, 2012 V947557 $849,000 $-30,000 -3%
May 23, 2012 V947557 $819,000 $-60,000 -7%
June 04, 2012 V947557 removed after 31 days
June 09, 2012 V955561 $789,000 $-90,000 -10%
June 22, 2012 V955561 $749,000 $-130,000 -15%
July 24, 2012 V955561 $689,000 $-190,000 -22%
September 01, 2012 V955561 removed after 84 days
September 08, 2012 V970245 $689,000 $-190,000 -22%
January 01, 2013 V970245 removed after 115 days
March 14, 2013 V995580 $689,000 $-190,000 -22%
March 29, 2013 V995580 $669,000 $-210,000 -24%
May 22, 2013 V995580 removed after 69 days
June 02, 2013 V1009977 $669,000 $-210,000 -24%
June 20, 2013 V1009977 $649,000 $-230,000 -26%

v1009977_1

Current Days on Market: 418 (1.15years)
Current ‘Official’ Days on Market: 24
2012 Assessment: $714,000
2011 Assessment: $731,000
Desperation Score: 36.0

“Priced 45k below assessed value for quick sale” – now priced $65K below assessment for quick sale

Welcome to this great corner home with a spacious floor plan that offers plenty of natural light, 9″ ceiling, 3 large sun drenched decks with endless views of the water and beyond and breath taking sunsets. Rarely available functional floorplan, lovingly cared-for, you’ll love the thoughtful design of this three bedroom, two bathroom plus den living space, not to mention being less than a minute on foot away from all the wonders of the Village including the boardwalk, shops, restaurants, park library & community center. Exceptional facilities including a gym, guest suite, bike storage & entertaining room. Priced 45k below assessed value for quick sale! Best deal in the village. Open House Sunday June 9, 12-2pm.


#7 ) Address:10091 DEAGLE RD, Broadmoor, Richmond

July 07, 2010 V840570 $1,180,000 $0 0%
July 27, 2010 V840570 removed after 20 days
January 01, 2011 V861739 $1,498,000 $0 0%
January 11, 2011 V861739 removed after 10 days
April 09, 2012 V941570 $3,788,800 $0 0%
June 30, 2012 V941570 removed after 82 days
July 18, 2012 V962493 $3,788,800 $0 0%
July 31, 2012 V962493 $3,580,000 $-208,800 -6%
August 01, 2012 V962493 $3,490,000 $-298,800 -8%
October 16, 2012 V962493 removed after 90 days
November 22, 2012 V980912 $2,880,000 $-908,800 -24%
December 14, 2012 V980912 $3,168,000 $-620,800 -16%
March 01, 2013 V980912 removed after 99 days
March 07, 2013 V994101 $2,998,000 $-790,800 -21%
May 30, 2013 V994101 removed after 84 days
June 06, 2013 V1010974 $2,980,000 $-808,800 -21%

v1010974_1

Current Days on Market: 443 (1.21years)
Current ‘Official’ Days on Market: 20
2012 Assessment: $2,058,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 36.5

This home was on the weekly drop back in November where they claimed this home was walking distance to Richmond Center and the sky train stations – a complete lie.  They removed that part of the description 3 months ago but are still $100K above their price from November.  They paid roughly $1.1 million for the lot in 2010 and I’ll be generous and say they put $1 million into the build.  That makes $2.1 million which is close to their assessment – they initially list the place at $3.8 million!!!  I hope I see this one in foreclosure

Prestigious & Popular Broadmoor area in Central Richmond! Rarely find architectural &designer’s mansion w/ 9240Sqft huge lot & 4018Sqft finishing area! A spectacular deluxe custom home featuring quality materials & workmanship, 5 bedroom+1 den+5.5bath+2 kitchen. Grand open foyer w. magnificent crystal chandelier, 16′ high ceiling living RM &nook, tons of drop ceiling & luxury crown moulding, marble entrance hallway, granite counter tops, hardwood flooring upstairs,HRV,Air-con, radiant heating, 3 car garage, lawn sprinkler system, steam bath, home theatre, security system. Walking distance to No.3 RD, Broadmoor shopping center & transportations. Famous Maple Lane Elementary &London Secondary High catchment.Don’t miss yr dream home!


#6 ) Address:7480 CHELSEA RD, Granville, Richmond

September 11, 2010 V849565 $1,038,000 $0 0%
October 08, 2010 V849565 removed after 27 days
January 06, 2012 V923508 $2,998,000 $0 0%
March 13, 2012 V923508 $2,788,800 $-209,200 -7%
April 16, 2012 V923508 removed after 101 days
April 19, 2012 V944294 $2,688,000 $-310,000 -10%
July 16, 2012 V944294 removed after 88 days
July 18, 2012 V962396 $2,588,000 $-410,000 -14%
September 25, 2012 V962396 $2,498,000 $-500,000 -17%
October 10, 2012 V962396 removed after 84 days
October 12, 2012 V976294 $2,498,000 $-500,000 -17%
December 11, 2012 V976294 removed after 60 days
December 20, 2012 V982900 $2,498,000 $-500,000 -17%
December 28, 2012 V982900 $2,398,000 $-600,000 -20%
March 01, 2013 V982900 removed after 71 days
March 07, 2013 V994170 $2,398,000 $-600,000 -20%
April 04, 2013 V994170 $2,288,000 $-710,000 -24%

v994170_1

Current Days on Market: 537 (1.47years)
Current ‘Official’ Days on Market: 111
2012 Assessment: $2,005,000
2011 Assessment: $1,851,000
Desperation Score: 37.6

“Custom built for present owner. For the most discriminating buyer. Right in the centre of million dollar row. Very generous bedrooms.” – nice sentences…  Listed for 50% and $1 million above assessment – now down $700K but still not close to being sold

Custom built for present owner. For the most discriminating buyer. Right in the centre of million dollar row. Very generous bedrooms. First and second master bathroom, both with steam bath. Spectacular craftsmanship of carpentry work. Deluxe maple cabinets, wet bar, built-in cabinets, drop ceilings, crown mouldings, air conditioning, HRV, sprinkler system. Immediate Possession!


#5 ) Address:6111 GARRISON CT, Riverdale, Richmond

June 22, 2011 V895616 $1,590,000 $0 0%
November 08, 2011 V895616 $1,498,000 $-92,000 -6%
January 01, 2012 V895616 removed after 193 days
January 08, 2012 V924009 $1,498,000 $-92,000 -6%
May 01, 2012 V924009 removed after 114 days
June 15, 2012 V956784 $1,650,000 $0 0%
August 25, 2012 V956784 $1,480,000 $-170,000 -10%
October 12, 2012 V956784 removed after 119 days
October 19, 2012 V977268 $1,448,000 $-202,000 -12%
November 14, 2012 V977268 $1,398,000 $-252,000 -15%
January 16, 2013 V977268 removed after 89 days
January 23, 2013 V986401 $1,398,000 $-252,000 -15%
February 01, 2013 V986401 removed after 9 days
February 13, 2013 V990123 $1,368,000 $-282,000 -17%
May 12, 2013 V990123 removed after 88 days
May 21, 2013 V1007450 $1,289,000 $-361,000 -22%

v1007450_1

Current Days on Market: 735 (2.01years)
Current ‘Official’ Days on Market: 36
2012 Assessment: $1,025,000
2011 Assessment: $1,059,000
Desperation Score: 39.1

Listed for over 2 years and still above assessment

In the legendary Riverdale district corner lot lies the excellent custom built residence with excellent workmanship. Centrally located from the Rivergreen & Richmond Olympic Oval Centre, sports & leisure activities always at ease with Thompson Community Centre, schooling at Burnett Secondary & Blair Elementary. Garden curb appeal, brick & stone exterior facade, grand entry with accentuated ceiling height, cross-hall design living & dining room make this house stand tall & proud. Interior details & feature include large gourmet kitchen with wok kitchen, granite counters, 6 bedrooms, 4 baths & 3 car garage. Through the patio door, you will enter an enchanted landscaped garden in the backyard. Some of the few choices you should


#4 ) Address:7620 NO 2 RD, Granville, Richmond

November 17, 2011 V920043 $1,250,000 $0 0%
February 16, 2012 V920043 $1,125,000 $-125,000 -10%
May 01, 2012 V920043 removed after 166 days
June 04, 2012 V954237 $1,049,000 $-201,000 -16%
July 10, 2012 V954237 $998,000 $-252,000 -20%
September 18, 2012 V954237 removed after 106 days
September 21, 2012 V972635 $958,000 $-292,000 -23%
January 23, 2013 V972635 $899,000 $-351,000 -28%
February 26, 2013 V972635 removed after 158 days
March 01, 2013 V993145 $899,000 $-351,000 -28%
April 30, 2013 V993145 $869,000 $-381,000 -30%
June 02, 2013 V993145 $829,000 $-421,000 -34%

v993145_1

Current Days on Market: 587 (1.61years)
Current ‘Official’ Days on Market: 117
2012 Assessment: $961,100
2011 Assessment: $990,100
Desperation Score: 41.1

“Investors and Builders Tremendous Value!”, “This would be a great Rental home (or live in) while the value of the lot increases! Or Build a 4,000 sq ft Mansion now! Or combine with neighcour and build townhouses! Any way you look at it, a great buy”…  Listed for over a year and a half, down 34% and about 15% below assessment (which has also been dropping)

Investors and Builders Tremendous Value! Small Price for a Huge 76 x 120′, 9,120 sq ft lot in Popular West Richmond area steps from Blundell Centre and easy access to Vancouver! This lot is Designated Townhouses if combined with neighbour. Ideal holding Property as lots of life left in the Grand Home and could rent out for $2,000/mo. Its a visual delight with peaked dormers and gables. Interior is also appealing and mechanically sound. 3 bedrooms up, very spacious main floor with updated bright kitchen and large Den. Oozes charm! This would be a great Rental home (or live in) while the value of the lot increases! Or Build a 4,000 sq ft Mansion now! Or combine with neighcour and build townhouses! Any way you look at it, a great buy


#3 ) Address:8620 CADOGAN RD, Lackner, Richmond

June 13, 2010 V834835 $848,000 $0 0%
June 30, 2010 V834835 removed after 17 days
December 25, 2011 V922990 $2,599,000 $0 0%
January 23, 2012 V922990 removed after 29 days
January 25, 2012 V927261 $2,288,000 $-311,000 -12%
March 07, 2012 V927261 removed after 42 days
March 09, 2012 V936232 $2,188,000 $-411,000 -16%
August 14, 2012 V936232 removed after 158 days
August 17, 2012 V966774 $2,098,000 $-501,000 -19%
October 10, 2012 V966774 $2,048,000 $-551,000 -21%
December 04, 2012 V966774 $1,996,000 $-603,000 -23%
January 01, 2013 V966774 removed after 137 days
January 11, 2013 V984569 $1,988,000 $-611,000 -24%
April 02, 2013 V984569 removed after 81 days
May 09, 2013 V1005552 $1,988,000 $-611,000 -24%
June 09, 2013 V1005552 $1,968,000 $-631,000 -24%
June 11, 2013 V1005552 $2,188,800 $-410,200 -16%
June 21, 2013 V1005552 $1,978,000 $-621,000 -24%

v1005552_1

Current Days on Market: 549 (1.50years)
Current ‘Official’ Days on Market: 48
2012 Assessment: $1,955,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 45.4

Another new build sitting for over a year and a half, down $620K (but still higher than pricing from 2 weeks ago) and just above assessment

Spectacular 3706 sq ft home on a large 66 x 124 = 8197 sq ft lot with mountain views. Quiet location next to green space. A little bit different than most other homes this home offers vaulted ceiling in all 4 ensuited bedrooms upstairs. Master bedroom has large ensuite with TV & Sauna, large walk in closet & covered deck. Main floor offers media room with guest bedroom & bathroom plus den, high ceilings in living & family rooms. Dream kitchen with high end appliances with large wok kitchen & 2nd fridge plus granite/quartz counter tops. Excellent street appeal with 3 car garage & electric gate all siding onto a park with mountain views. Central Richmond location near Blundell & No 2 Road.


#2 ) 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%
May 04, 2013 V1001263 $1,280,000 $-770,000 -38%
May 30, 2013 V1001263 $1,248,000 $-802,000 -39%

v1001263_1

Current Days on Market: 518 (1.42years)
Current ‘Official’ Days on Market: 72
2012 Assessment: $1,321,000
2011 Assessment: $1,294,000
Desperation Score: 46.4

“”Think” TUSCANY – Italian Villa, Morocco mystic, east Asian influence. ” – well that says it all, doesn’t it?  “Change colors or change arches to square”.  “Excellent floor plan for private home based business” – yeah, like people work in this province?  Too busy flipping real estate and buying cheap milk from Bellingham!!!  After $800K in price drops it is now $73K below assessment and listed below 2009 pricing

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!


#1 ) Address:6940 NO 1 RD, Riverdale, Richmond

October 06, 2006 V611620 $599,000 $0 0%
January 01, 2007 V611620 removed after 87 days
March 16, 2007 V635573 $599,000 $0 0%
June 11, 2007 V635573 removed after 87 days
January 26, 2011 V865172 $799,000 $0 0%
February 09, 2011 V865172 $889,000 $0 0%
March 09, 2011 V865172 removed after 42 days
January 07, 2012 V923891 $1,878,000 $0 0%
February 15, 2012 V923891 $1,750,000 $-128,000 -7%
February 28, 2012 V923891 removed after 52 days
March 01, 2012 V934428 $1,699,000 $-179,000 -10%
May 29, 2012 V934428 $1,649,000 $-229,000 -12%
June 18, 2012 V934428 removed after 109 days
June 23, 2012 V958156 $1,548,880 $-329,120 -18%
July 12, 2012 V958156 $1,499,000 $-379,000 -20%
July 16, 2012 V958156 removed after 23 days
July 19, 2012 V962746 $1,448,000 $-430,000 -23%
January 18, 2013 V962746 removed after 183 days
February 28, 2013 V992753 $1,489,000 $-389,000 -21%
March 12, 2013 V992753 $1,368,000 $-510,000 -27%
March 25, 2013 V992753 removed after 25 days
May 02, 2013 V1004337 $1,479,000 $-399,000 -21%
May 30, 2013 V1004337 $1,418,800 $-459,200 -24%
June 19, 2013 V1004337 $1,389,800 $-488,200 -26%

v1004337_1

Current Days on Market: 536 (1.47years)
Current ‘Official’ Days on Market: 55
2012 Assessment: $1,642,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 50.5

This relatively well priced new build has been sitting for a year and a half, is now $250K below assessment has had 9 price drops and 2 price increases and is still above the price it didn’t sell at earlier this spring

Brand new luxury home at a very convenient west Richmond location. Over 3500 sq ft home, high-ceiling in living and family room, deluxe kitchen granite counter, stainless steel appliances, wok kitchen, tasteful colour scheme, engineered hardwood floors on the main and carpet upstairs, blinds throughout the house. 1 bedroom large legal suite, 4 ensuite bedrooms upstairs, air-conditioning, 3 car garage, HRV, electric gate, the list goes on, come and tour the home.

Burnaby Spotlight – June 18, 2013

Here are the top 10 most desperate properties in Burnaby

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.


#10 ) Address:4863 EMPIRE DR, Capitol Hill, Burnaby

February 22, 2013 V992045 $1,188,888 $0 0%
March 10, 2013 V992045 $1,088,000 $-100,888 -8%
April 30, 2013 V992045 $1,049,900 $-138,988 -12%
May 10, 2013 V992045 $999,000 $-189,888 -16%
June 15, 2013 V992045 $960,000 $-228,888 -19%

v992045_1

Current Days on Market: 117 (0.32years)
Current ‘Official’ Days on Market: 117
2012 Assessment: $950,100
Desperation Score: 31.0

4 price drops in 4 months but still over assessment

Beautiful Capitol Hill home with a view! This investor/developer’s dream is perched on a hill with 180 degree westerly views of Burnaby, downtown Vancouver, Gulf Islands, Northshore Mountains, and the Burrard Inlet. The inside boasts vaulted, ceilings, 3 bedrooms + den, wood burning fireplace, sauna, workshop, and wine cellar! Call to view now and this prestigious North Burnaby lifestyle can be yours!


#9 ) Address:8263 GOVERNMENT RD, Government Road, Burnaby

May 12, 2011 V887808 $2,700,000 $0 0%
July 10, 2011 V887808 removed after 59 days
July 15, 2011 V900055 $2,700,000 $0 0%
September 13, 2011 V900055 removed after 60 days
April 14, 2012 V943305 $2,599,000 $-101,000 -4%
June 25, 2012 V943305 removed after 72 days
March 31, 2013 V998392 $2,599,000 $-101,000 -4%
May 02, 2013 V998392 $2,399,000 $-301,000 -11%
May 21, 2013 V998392 $2,088,000 $-612,000 -23%
May 25, 2013 V998392 $2,188,000 $-512,000 -19%

v998392_1

Current Days on Market: 80 (0.22years)
Current ‘Official’ Days on Market: 80
2012 Assessment: $2,076,000
Desperation Score: 31.2

Sold for $2,250,000 in June 2012 so even after their recent price increase they would lose over $175K (including transactional costs) if they received asking price.  “Feng Shui is #1 here” yet it appears money is exiting the home very quickly.

Prime Location in the prestigious Government Rd Area. Steps to shopping, bus & SkyTrain & best schools nearby. Beautiful Italian home with huge lot: 70×140, Interior 5,778 sq ft, 4 bedrooms UP, 1 bdrm Down, 6 Baths. Featuring luxurious kitche n + wok, home theatre with Karaoke system, floor to ceiling projection display, gym, sauna, exercise area, lounge with wet-bar all inclusive. Serene private backyard with natural granite landscaping & fruit trees producing best of golden plums. Feng Shui is #1 here, bring your whole family to experience the great Italian design & built home, home. Call Now!


#8 ) Address:# PH1 2355 MADISON AV, Brentwood Park, Burnaby

April 23, 2007 V642887 $962,900 $0 0%
May 03, 2007 V642887 $972,900 $0 0%
December 13, 2007 V642887 removed after 234 days
February 01, 2008 V686196 $972,900 $0 0%
January 01, 2009 V686196 removed after 335 days
January 22, 2009 V749416 $799,900 $-173,000 -18%
May 22, 2009 V749416 removed after 120 days
November 10, 2010 V857902 $980,000 $0 0%
May 08, 2011 V857902 removed after 179 days
May 11, 2011 V887456 $1,080,000 $0 0%
August 12, 2011 V887456 removed after 93 days
August 23, 2012 V967745 $1,058,800 $-21,200 -2%
December 05, 2012 V967745 $998,000 $-82,000 -8%
January 19, 2013 V967745 $969,000 $-111,000 -10%
February 20, 2013 V967745 removed after 181 days
February 28, 2013 V993089 $988,000 $-92,000 -9%
May 12, 2013 V993089 removed after 73 days
May 28, 2013 V1009198 $988,000 $-92,000 -9%
May 30, 2013 V1009198 $969,000 $-111,000 -10%
June 07, 2013 V1009198 $939,000 $-141,000 -13%

v1009198_1

Current Days on Market: 300 (0.82years)
Current ‘Official’ Days on Market: 22
2012 Assessment: $937,000
Desperation Score: 31.3

A little ping pong pricing action before hitting a new low recently.  It’s hard for a 6 year old apartment to compete with all of the new inventory coming on board

“Live like a queen”????????  Thanks for pointing that out ManyFranks.  Horribly alienating statement

Live like a queen w/spectacular views of city, mountain & water! Oma built by millennium. This beautiful penthouse unit boast open floor plan w/living & dining rm, gourmet kitchen w/s/s appliances, granite counter & island for breakfast. Mbdrm w/5 piece ensuite & large closet, plus 2 more bedrooms & 2 baths. Wood flooring throughput, 12″ height ceilings, extra large entrance door, wrapped up balconies for your evening getaway & much more. Top class amenities are indoor pool, sauna, hot tub & exercise centre. You’ll love this unit.


#7 ) Address:6735 WALTHAM AV, Upper Deer Lake, Burnaby

March 17, 2012 V937742 $868,000 $0 0%
March 19, 2012 V937742 removed after 2 days
February 01, 2013 V988244 $2,288,000 $0 0%
April 07, 2013 V988244 $2,138,000 $-150,000 -7%
May 01, 2013 V988244 removed after 89 days
May 10, 2013 V1006203 $1,980,000 $-308,000 -13%
May 30, 2013 V1006203 $1,880,000 $-408,000 -18%

v1006203_1

Current Days on Market: 138 (0.38years)
Current ‘Official’ Days on Market: 40
2012 Assessment: Building unfinished
Desperation Score: 32.0

This new build is down $400K and 18% in 2 months

Built to impress! Great opportunity to own a home of exemplary distinction construction in the Upper Deer Lake neighbourhoods. This custom built 3 level home features 7 bedrooms & 6 baths with open concept living.Highlights include 12′ high ceiling on family room and soaring entrance foyer, high end crystal lighting and plumbing fixtures, Granite countertops, full smart security system, central a/c R/I, high efficiency radiant heating, spacious open kitchen and separate wok kitchen, potential separated 2 bedroom suites, private garden and yard. 2/5/10 year warranty. OPEN House June 15 & 16 Sat/Sun 2-4pm


#6 ) Address:6035 LAKEVIEW AV, Upper Deer Lake, Burnaby

April 09, 2012 V941955 $1,608,000 $0 0%
June 06, 2012 V941955 $1,445,000 $-163,000 -10%
July 04, 2012 V941955 $1,400,000 $-208,000 -13%
August 01, 2012 V941955 removed after 114 days
August 19, 2012 V967205 $1,330,000 $-278,000 -17%
December 13, 2012 V967205 removed after 116 days
January 20, 2013 V986295 $1,295,000 $-313,000 -19%
March 12, 2013 V986295 $1,199,900 $-408,100 -25%
March 25, 2013 V986295 removed after 64 days
April 07, 2013 V999745 $1,199,000 $-409,000 -25%

v999745_1

Current Days on Market: 436 (1.19years)
Current ‘Official’ Days on Market: 73
2012 Assessment: $987,000
Desperation Score: 32.5

Initial price was 60% over assessment and now, after 25% in price drops they are still 20% over assessment

Prestigious location custom built one owner home. Features 8 bedrooms, 2 family rooms, 4 bathrooms, 3 fireplaces, full security cameras monitoring system, 2 car garage plus more parking, jacuzzi in master ensuite, original extremely well kept and cared for home with newer appliances, solid oak hardwood floors, hot water tank, newer roof & more. A must see home.


#5 ) Address:7740 GRAHAM AV, East Burnaby, Burnaby

May 23, 2010 V832533 $539,900 $0 0%
May 30, 2010 V832533 removed after 7 days
December 14, 2011 V922337 $1,168,000 $0 0%
June 30, 2012 V922337 removed after 199 days
July 29, 2012 V964408 $1,151,000 $-17,000 -1%
September 18, 2012 V964408 $1,110,000 $-58,000 -5%
February 21, 2013 V964408 $1,079,000 $-89,000 -8%
February 26, 2013 V964408 removed after 212 days
April 15, 2013 V1001282 $1,089,000 $-79,000 -7%
April 20, 2013 V1001282 $1,039,800 $-128,200 -11%
May 12, 2013 V1001282 removed after 27 days
May 25, 2013 V1009060 $1,065,900 $-102,100 -9%
June 02, 2013 V1009060 $1,029,000 $-139,000 -12%

v1009060_1

Current Days on Market: 553 (1.52years)
Current ‘Official’ Days on Market: 25
2012 Assessment: $1,060,000
Desperation Score: 33.5

“spky kitchen” – spooky kitchen? spiky kitchen?  spanky kitchen?  Confused…  2 price increases and 5 price drops over the last year and a half but now below assessment

Better than new, nicely kept custom built home with back lane in 55×110 lot, 2775 Sf huge 2 level home. Very modern home. HOme owner built for himself, with air con, 5 security cameras, intercom system with 6 CD player, highend maple kitchen cabinets, spky kitchen, legal one bedroom suite, remote control back gate, top end stainless steel appliances, granite countertops, 4 bedroom upstairs, heritage style house & many more things to see.


#4 ) Address:3293 BAINBRIDGE AV, Government Road, Burnaby

June 13, 2012 V956010 $1,258,000 $0 0%
July 19, 2012 V956010 $1,090,000 $-168,000 -13%
October 01, 2012 V956010 removed after 110 days
October 06, 2012 V975355 $995,000 $-263,000 -21%
December 05, 2012 V975355 removed after 60 days
March 06, 2013 V994040 $900,000 $-358,000 -28%
April 12, 2013 V994040 $875,000 $-383,000 -30%
April 30, 2013 V994040 removed after 55 days
May 02, 2013 V1004522 $868,000 $-390,000 -31%

v1004522_1

Current Days on Market: 371 (1.02years)
Current ‘Official’ Days on Market: 48
2012 Assessment: $817,400
2011 Assessment: $817,500
Desperation Score: 35.0

31% in price drops yet still over assessment

This is a 2,700+ sqft, 2 level home situated on a quiet street in desirable Government Road area! Ideal home to rent for a potential ($3,200 up & $1,250 down) per month, move in & decorate to your style with a mortgage helper down, or build. Upstairs has 3 beds, 2 baths, living, dining, kitchen & a large family room. Down has a large 2 or 1 bed suite & 2 bathrooms. New Roof replaced in 2007, basement renovations done in 2010, New Furnace in 2010. Walk to Sperling Skytrain, easy access to SFU, Bentwood Mall & Lougheed Mall, Express Bus direct to Vancouver! Approved sketch of building plans by the City for 6,200 SF luxurious home with a 3 car garage. This is a large 10,700 SQFT lot.


#3 ) Address:3120 PHILLIPS AV, Government Road, Burnaby

September 12, 2009 V786548 $718,800 $0 0%
November 04, 2009 V786548 removed after 53 days
January 15, 2012 V925581 $1,430,000 $0 0%
March 21, 2012 V925581 $1,398,000 $-32,000 -2%
May 15, 2012 V925581 removed after 121 days
June 01, 2012 V953659 $1,298,000 $-132,000 -9%
July 17, 2012 V953659 $1,198,000 $-232,000 -16%
September 13, 2012 V953659 removed after 104 days
November 18, 2012 V980558 $1,098,000 $-332,000 -23%
February 18, 2013 V980558 removed after 92 days
February 21, 2013 V991852 $1,123,000 $-307,000 -21%
March 16, 2013 V991852 $1,088,000 $-342,000 -24%
April 22, 2013 V991852 removed after 60 days
May 02, 2013 V1004512 $1,049,000 $-381,000 -27%

v1004512_1

Current Days on Market: 521 (1.43years)
Current ‘Official’ Days on Market: 48
2012 Assessment: $1,139,000
Desperation Score: 37.7

6 price drops, 1 price increase and 27% in overall price drops and now listed below assessment

A quality, modern home on a 19,000 sq ft lot. Renewed, remodelled and improved! Daylight shines thru new vinyl windows with designer blinds. Hi-tec lighting and security system. Main floor has a bar area, fireplace, 20′ vaulted ceiling in the living room and a 425 sqft deck. Main beds have 13′ vaulted ceilings, bath w/ frameless shower and designer vanity. New gourmet kitchen, wall mount oven/microwave, Bosch fridge, tiled backsplash leading to a 150 sqft deck via French doors. Master bed is a large open loft style, dressing area, private deck. Master bath is a spacious spa like fantasy with jetted soaker tub and frameless shower. Hot water heat with a new high efficiency boiler. Fully landscaped/fenced on 3 sides. Potential suite, separate entrance, laundry room. Near SFU, Sky train, schools are Seaforth and Burnaby Mountain. Open House: Sat 2-4, Sun 2-4 PM.


#2 ) Address:5320 SUSSEX AV, Forglen, Burnaby

May 11, 2012 V949426 $1,388,000 $0 0%
June 09, 2012 V949426 $1,288,000 $-100,000 -7%
September 12, 2012 V949426 $1,198,000 $-190,000 -14%
November 02, 2012 V949426 removed after 175 days
January 30, 2013 V987699 $1,128,000 $-260,000 -19%
February 16, 2013 V987699 $1,080,000 $-308,000 -22%
April 03, 2013 V987699 $1,038,000 $-350,000 -25%
May 09, 2013 V987699 $973,800 $-414,200 -30%

v987699_1

Current Days on Market: 404 (1.11years)
Current ‘Official’ Days on Market: 140
2012 Assessment: $1,043,800
Desperation Score: 38.7

Another one with 30% in price drops and now listed below assessment but still not moving

Top location in Forest Glen! Immaculate family home with 2 bdrm suite down & 2x glaze windows. Hardwoods throughout! New metal roof ($14,000). New H2O tank. Super lot, landscaped & views. Hurry!


#1 ) Address:8190 GREENLAKE PL, Government Road, Burnaby

October 05, 2006 V614563 $749,000 $0 0%
February 19, 2007 V614563 removed after 137 days
August 25, 2012 V967996 $2,458,000 $0 0%
September 12, 2012 V967996 removed after 18 days
September 14, 2012 V971107 $2,596,000 $0 0%
October 25, 2012 V971107 $2,450,000 $-146,000 -6%
December 11, 2012 V971107 removed after 88 days
December 15, 2012 V982629 $2,168,000 $-428,000 -16%
January 05, 2013 V982629 $1,988,000 $-608,000 -23%
April 17, 2013 V982629 removed after 123 days
April 20, 2013 V1002413 $1,988,000 $-608,000 -23%
June 11, 2013 V1002413 $1,890,000 $-706,000 -27%

v1002413_1

Current Days on Market: 298 (0.82years)
Current ‘Official’ Days on Market: 60
2012 Assessment: $1,899,000
Desperation Score: 39.8

It’s actually a very nice looking home – initial pricing was stupid but now listed below assessment.  I wouldn’t expect this one to sit too much longer but surely if they priced it reasonable to begin with it would have sold for $2 million last fall

Beautiful custom-built home in a cul-de-sac in the prestigious Government Road area. Functional layout, high ceiling in the living and family room, stylish fireplace, engineered hardwood throughout, Schonbeck crystal chandeliers, sound system, LED lighted stairs. Gourmet kitchen with quartz countertop, S/S appliances, porcelain floor tiles, wok kitchen and pantry. Total of 8 bedrooms and 8 bathrooms. Outdoor fireplace, TV and gas-hookup great for BBQ-ing, beautiful landscaped backyard, stamped concrete driveway and much more.

North Vancouver Spotlight – June 16, 2013

Here are the top 10 most desperate properties in North Vancouver

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.


#10) Address:4666 LOCKEHAVEN PL, Deep Cove, North Vancouver

June 11, 2012 V955934 $1,179,000 $0 0%
July 26, 2012 V955934 $1,129,000 $-50,000 -4%
August 13, 2012 V955934 removed after 63 days
August 17, 2012 V966871 $1,129,000 $-50,000 -4%
September 05, 2012 V966871 $1,128,000 $-51,000 -4%
October 02, 2012 V966871 $1,089,000 $-90,000 -8%
January 03, 2013 V966871 $999,000 $-180,000 -15%
March 08, 2013 V966871 removed after 203 days
April 03, 2013 V998535 $979,000 $-200,000 -17%
May 22, 2013 V998535 removed after 49 days
May 28, 2013 V1009067 $979,000 $-200,000 -17%

v1009067_1

Current Days on Market: 371 (1.02years)
Current ‘Official’ Days on Market: 20
2012 Assessment: $1,037,000
Desperation Score: 31.3

5 price drops and 4 MLS numbers since last June earn this home a spot in the top 10

Deep Cove C-D-S SUNBELT! Custom built 3 level, 4 BR, 2.5 BT, DBL carport, Mediterranean Style home blessed with all day unobstructed sunshine enjoyed on massive wrap around ent. sundeck or indoors through multi skylights/walls of windows compliments of unique mtn/sun corridor location mid street sweet spot S.facing dble wide & deep 66′ x 132′ mostly level lush private 8712 sqft super lot! K-Grade 12, mins walk to great schools, parks, Cove, shops, beaches, nature trails! 2012 updates inc. All new Energy Star vinyl dble windows/glass sliders, high effic. furn ext paint, sundeck railings perimeter re-surface, granite eat-in kitch, 2011 new torch on roof, up 2013 Assessed Value $1,037,000.INCREDIBLE VALUE oppor to be on $1M + St!


#9 ) Address:973 CLEMENTS AV, Canyon Heights, North Vancouver

May 21, 2012 V951500 $1,100,000 $0 0%
June 12, 2012 V951500 $989,000 $-111,000 -10%
July 16, 2012 V951500 removed after 56 days
July 20, 2012 V962970 $925,000 $-175,000 -16%
September 05, 2012 V962970 removed after 47 days
September 12, 2012 V970537 $899,000 $-201,000 -18%
November 06, 2012 V970537 removed after 55 days
April 13, 2013 V1000850 $838,000 $-262,000 -24%
June 11, 2013 V1000850 $799,000 $-301,000 -27%

v1000850_1

Current Days on Market: 392 (1.07years)
Current ‘Official’ Days on Market: 65
2012 Assessment: $1,124,000
Desperation Score: 31.4

This home is now listed for almost 30% BELOW assessment

Seize this opportunity to build your dream home in Canyon Heights for a fraction of the price. Offering this very private 66 by 120 property, located on a cul-de-sac and sitting on a beautiful greenbelt and creek side location. The property is ideally located close to Edgemont Village, some of the best North Shore schools, numerous parks and Grouse Ski Resort. SYNTHESIS Design has drafted plans for a modern 3700 sq.ft home, value is primarily in the land. All District Streamside requirements being fullfilled by current owner for new build guidelines, hassle free build once complete.


#8 ) Address:750 FORSMAN AV, Lynnmour, North Vancouver

August 13, 2011 V878754 $1,548,000 $0 0%
August 20, 2011 V878754 $1,518,000 $-30,000 -2%
August 26, 2011 V878754 $1,388,000 $-160,000 -10%
January 14, 2012 V878754 $1,658,000 $0 0%
March 13, 2012 V878754 $1,388,000 $-270,000 -16%
June 07, 2012 V878754 removed after 299 days
November 15, 2012 V980122 $1,188,000 $-470,000 -28%
December 05, 2012 V980122 $1,288,000 $-370,000 -22%
December 10, 2012 V980122 $1,298,000 $-360,000 -22%
January 25, 2013 V980122 $1,346,000 $-312,000 -19%
February 07, 2013 V980122 $1,388,000 $-270,000 -16%
May 25, 2013 V980122 $1,360,000 $-298,000 -18%
June 06, 2013 V980122 $1,320,000 $-338,000 -20%

v980122_1

Current Days on Market: 674 (1.85years)
Current ‘Official’ Days on Market: 214
2012 Assessment: $714,800
2011 Assessment: $676,800
Desperation Score: 31.7

Ping Pong Pricing in action here.  Starting with a 20% price increase back in 2012 after sitting on the market for 4 months.  They the relist in November for $1.19 million and increase the price 4 times in a row all the way up to $1.39 million before now entering into a descent.  Currently priced at close to 90% OVER assessment!!!  

Developer Alert! This 9,333 sq ft corner property permits triplex & 3 storey townhomes at 0.8 FSR by approval of District of North Vancouver. Adjacent 1562 E. Keith Rd is available (MLS V904916), combined total 18,476 sq ft. Cul-de-sac, towering cedars are buffer to roadway, recreation, greenbelt, equestrian centre, Lynn Creek, Seymour River, multiple parks, dog walking trails, schools, University, super shopping, theatre, restaurants, etc. Excellent bus service. This location has the fastest access to Greater Vancouver from the North Shore. View by appointment or from streets, do not disturb occupants. Seller motivated.


#7 ) Address:4904 CHALET PL, Canyon Heights, North Vancouver

February 18, 2007 V631224 $1,698,000 $0 0%
May 10, 2007 V631224 removed after 81 days
May 19, 2007 V648228 $1,698,000 $0 0%
August 31, 2007 V648228 removed after 104 days
September 07, 2007 V666836 $1,698,000 $0 0%
November 16, 2007 V666836 removed after 70 days
June 14, 2012 V956558 $2,198,000 $0 0%
September 05, 2012 V956558 $2,098,000 $-100,000 -5%
October 16, 2012 V956558 removed after 124 days
October 19, 2012 V977166 $2,078,000 $-120,000 -5%
December 14, 2012 V977166 $1,980,000 $-218,000 -10%
January 19, 2013 V977166 removed after 92 days
February 17, 2013 V991221 $1,898,000 $-300,000 -14%
April 20, 2013 V991221 $1,849,000 $-349,000 -16%
May 12, 2013 V991221 removed after 84 days
June 02, 2013 V1009863 $1,828,000 $-370,000 -17%

v1009863_1

Current Days on Market: 368 (1.01years)
Current ‘Official’ Days on Market: 15
2012 Assessment: $1,829,00
Desperation Score: 32.2

After 17% in price drops they are now listed below assessment

Location plus, just above Montroyal, city view! Virtually new, very classy with 4 big BR up (each with bath), open plan main with warm wood floors throughout, stunning gourmet kitchen with 6 burner gas range & butlers pantry. Lower level offers recreation area & great suite potential…air conditioned throughout. Extremely private fenced yard abuts greenspace, paver patios front & rear. Large covered hot tub, gas fireplace outside – the entertainer! Easy, level driveway. Truly, shows like NEW! Easy to view.


#6 ) Address:1410 WOODS DR, Capilano, North Vancouver

January 22, 2007 V627048 $678,000 $0 0%
February 06, 2007 V627048 removed after 15 days
July 22, 2012 V963346 $2,077,000 $0 0%
September 29, 2012 V963346 $1,949,000 $-128,000 -6%
January 15, 2013 V963346 removed after 177 days
January 18, 2013 V985761 $1,869,000 $-208,000 -10%
March 02, 2013 V985761 $1,799,500 $-277,500 -13%
March 13, 2013 V985761 $1,779,900 $-297,100 -14%
May 25, 2013 V985761 $1,749,900 $-327,100 -16%
June 07, 2013 V985761 $1,699,970 $-377,030 -18%

v985761_1

Current Days on Market: 330 (0.90years)
Current ‘Official’ Days on Market: 150
2012 Assessment: $1,583,000
Desperation Score: 33.1

This one is actually surprising to me since homes in this area are being snapped up relatively quickly and this one seems like a very nice place at a very good price at least when compared to other properties in the area.  There is no backyard which I suppose is the reason it has been sitting.  5 price drops so far this year and 7 overall.

Magnificent and immaculate, custom built, just like new luxury modern 3 level home, steps to highly desirable Edgemont Village. Located on a very quiet child-friendly street. Top-of-the-line finishing throughout.Meticulous landscapingcomplete with classic stone exterior finish. Exceptional interior with ultra deluxe entertainer’s kitchen includes massive granite island, top-of-the-line appliances, rich cabinetry and open plan family room. Spacious master complete with elegant ensuite. You will appreciate the quality throughout this home. Visit listing agent’s website for more photos and detailed property information.OPEN HOUSE: Saturday, June 15th from 2:30 to 4:00pm AND Tuesday, June 18th from 10:30am to 12:00pm


#5 ) Address:1130 HANDSWORTH RD, Canyon Heights, North Vancouver

August 21, 2009 V782972 $965,000 $0 0%
September 11, 2009 V782972 $929,000 $-36,000 -4%
September 23, 2009 V782972 $889,000 $-76,000 -8%
October 07, 2009 V782972 $859,000 $-106,000 -11%
October 22, 2009 V782972 removed after 62 days
March 06, 2013 V994016 $1,750,000 $0 0%
March 20, 2013 V994016 $1,678,000 $-72,000 -4%
May 02, 2013 V994016 removed after 57 days
May 05, 2013 V1005327 $1,598,800 $-151,200 -9%
May 30, 2013 V1005327 $1,545,000 $-205,000 -12%
June 11, 2013 V1005327 removed after 37 days
June 13, 2013 V1012234 $1,499,000 $-251,000 -14%

v1012234_1

Current Days on Market: 103 (0.28years)
Current ‘Official’ Days on Market: 4
2012 Assessment: $1,152,800
Desperation Score: 33.1

4 price drops in 3 months on this renovation

An Absolutely Stunning Renovation. Feel the spaciousness and uncompromising quality upon walking through the front door of this fabulous Family Home. Gourmet chefs kitchen, custom cabinets, SS appliances, quartz counters, and entertaining size island. Beautiful maple floors throughout, huge dining area and living room with wood fireplace. New cedar deck, new roof, windows, rainscreened siding, floors, crown moldings, kitchen, bathrooms – it’s effectively new home. 3 large bedrooms, 2 full baths up and 2 bdrm nanny suite down. Large 10,800 sf lot, with sunny & private backyard. Great family neighborhood just a short walk to Handsworth Secondary and Canyon Heights Elementary. Open House this SAT: 12-2 pm and SUN: 2-4pm.


#4 ) Address:967 ROSLYN BV, Dollarton, North Vancouver

February 26, 2012 V933878 $3,750,000 $0 0%
March 27, 2012 V933878 $3,690,000 $-60,000 -2%
April 18, 2012 V933878 $3,288,000 $-462,000 -12%
May 16, 2012 V933878 $2,980,000 $-770,000 -21%
June 15, 2012 V933878 $2,750,000 $-1,000,000 -27%
July 25, 2012 V933878 removed after 150 days
August 10, 2012 V965789 $2,690,000 $-1,060,000 -28%
January 03, 2013 V965789 removed after 146 days
February 15, 2013 V990537 $2,388,000 $-1,362,000 -36%
June 06, 2013 V990537 $2,329,000 $-1,421,000 -38%

v990537_1

Current Days on Market: 477 (1.31years)
Current ‘Official’ Days on Market: 122
2012 Assessment: $2,255,000
2011 Assessment: $1,840,000
Desperation Score: 37.0

Down 1.4 million and 38% in a little over a year…  This is another home that I think is really well priced (after $1.4 million in drops!)

This home has everything! Located a short walk from the oceanside, this custom built home occupies a sunny 1/3 acre private lot with water views. Featuring over 5,000 sqft, this 7 bedroom dream home has everything including; theatre, entertainment sized gourmet chef’s kitchen, 2 bedroom suite, swimming pool with fireplace and waterfalls, Koi pond, large flat backyard with gorgeous waterfalls. This is the perfect family home and it won’t last long. Priced well below replacement cost, this incredible value and outstanding lifestyle on the North Shore!


#3 ) Address:2645 EDGEMONT BV, Edgemont, North Vancouver

April 26, 2012 V945680 $2,248,000 $0 0%
June 27, 2012 V945680 removed after 62 days
July 07, 2012 V960571 $2,098,800 $-149,200 -7%
July 20, 2012 V960571 removed after 13 days
September 08, 2012 V970125 $1,998,800 $-249,200 -11%
December 28, 2012 V970125 removed after 111 days
January 25, 2013 V986711 $1,998,000 $-250,000 -11%
March 05, 2013 V986711 removed after 39 days
March 13, 2013 V995172 $1,998,800 $-249,200 -11%
April 04, 2013 V995172 $1,890,000 $-358,000 -16%
June 11, 2013 V995172 removed after 90 days
June 15, 2013 V1012481 $1,798,800 $-449,200 -20%

v1012481_1

Current Days on Market: 417 (1.14years)
Current ‘Official’ Days on Market: 2
2012 Assessment: $1,283,000
Desperation Score: 37.1

1) you did not spend $500K on this renovation – maybe $200K and that’s being generous 2) I know that you shouldn’t judge a book by its cover but come on, that is an ugly looking house.  Should have spent a little bit of that renovation money on the exterior  3) Nice try with that $2.25 million asking price.  I distinctly remember seeing this listing when it first came on the MLS and I actually laughed.

Complete transformation with almost $500K spent in renovation to this over 4600 SF Edgemont home! No expense spared with quality finishings throughout & designer’s touched from top to bottom. Main floor boasts a fabulous layout with a lovely marbled entrance & large living & dining areas which leads to a massive casual entertainment space facing out towards a large deck & level backyard. Upper level offers 4 good size bedrooms plus a bonus large play/game room. Lower level features a rec/media room plus a self contained 2 bedroom inlaw accommodation. Other key features include metal roof, 2 car garage, level driveway & a short stroll to all of Edgemont Village’s amenities! Great value in this sought after neighborhood!


#2 ) 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%
May 30, 2013 V982221 $7,498,000 $-10,402,000 -58%

v982221_1

Current Days on Market: 1072 (2.94years)
Current ‘Official’ Days on Market: 189
2012 Assessment: $6,130,000
2011 Assessment: $5,947,000
Desperation Score: 38.3

Over $10 million and 58% in price drops yet still over assessment.  Spectacular home but still horribly overpriced

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!


#1 ) Address:890 BROWNING PL, Blueridge, North Vancouver

December 13, 2012 V982498 $1,075,000 $0 0%
January 09, 2013 V982498 removed after 27 days
January 11, 2013 V984615 $900,000 $-175,000 -16%
January 30, 2013 V984615 removed after 19 days
February 08, 2013 V989497 $1,075,000 $0 0%
February 15, 2013 V989497 $1,030,000 $-45,000 -4%
February 19, 2013 V989497 $999,000 $-76,000 -7%
March 13, 2013 V989497 $998,000 $-77,000 -7%
March 27, 2013 V989497 $975,000 $-100,000 -9%
April 12, 2013 V989497 $965,000 $-110,000 -10%
June 04, 2013 V989497 $925,000 $-150,000 -14%

v989497_1

Current Days on Market: 186 (0.51years)
Current ‘Official’ Days on Market: 129
2012 Assessment: $841,000
Desperation Score: 41.9

A surprise new entry makes it to number 1 spot.  Dropped the price to $900K back in January where it did not sell then relisted at $1.075 million and after 6 price drops in 4 months it is still listed higher than the January price it did not sell for.  “Motivated Seller wants house sold in next 2 weeks.” – this has been part of their description since early March.  If they want out in 2 weeks they’ll need to list for a lot lower.  Pig Pong Principle Fail.  If they kept it at $900K back in January it probably would have sold and now, even if they relist at $900K, it will sit.

Located on a large landscaped lot, this home offers lots of possibilities for your lifestyle. Secluded position at the end of the cul-de-sac, fully fenced for a growing family, & extensive covered deck & patio. Offers 3200 SF of living space with 5 bedrooms & suite potential. Westerly forest views with beautiful sunsets. Conveniently located in the lower Blueridge area for fast access to Highway & downtown only 20 minutes away. Ideal family home & easily suitable. Features include vaulted ceilings, large windows & skylights. Motivated Seller wants house sold in next 2 weeks. Will consider all offers. OPEN HOUSE SATURDAY JUNE 8th 3-4:30

 

West Vancouver Spotlight – June 14, 2013

Here are the top 10 most desperate properties in West Vancouver

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.


#10 ) Address:365 KEITH PL, Cedardale, West Vancouver

January 22, 2012 V927204 $2,488,000 $0 0%
February 07, 2012 V927204 removed after 16 days
February 15, 2012 V931427 $2,399,000 $-89,000 -4%
April 03, 2012 V931427 removed after 48 days
May 17, 2012 V950670 $2,398,000 $-90,000 -4%
June 06, 2012 V950670 $2,349,000 $-139,000 -6%
June 16, 2012 V950670 $2,298,000 $-190,000 -8%
August 24, 2012 V950670 removed after 99 days
April 17, 2013 V1001603 $2,398,000 $-90,000 -4%
May 07, 2013 V1001603 $2,348,000 $-140,000 -6%
May 21, 2013 V1001603 $2,298,000 $-190,000 -8%
June 07, 2013 V1001603 $2,198,000 $-290,000 -12%

v1001603_1

Current Days on Market: 59 (0.16years)
Current ‘Official’ Days on Market: 59
2012 Assessment: $1,998,000
Desperation Score: 33.6

AKING PRICE IS LESS THAN PREVIOUSLY ACCEPTED OFFER PRICE!” – a typo and some ALL CAPS NEWS.  “yard is partly beautifully landscaped” – and partly horribly landscaped I suppose?  They pulled the listing last June and then relisted for $100K more in April

Spectacular 13yr young custom home with LEGAL SUITE in a quiet CDS with newer homes, NO WIRES. Enter in the double volume foyer and be impressed. This fantastic 4,408 sq ft home has 5 bedrooms/5 bathrooms, high ceilings, great finishes, wide plank hardwood floors, radiant heat throughout, flat driveway and alarm system and is wired for sound. The low maintenance 18,818 sq ft yard is partly beautifully landscaped (with irrigation system) and the remainder is in a greenbelt sloping down to Brothers Creek; ultimate privacy, less yard work! Sit on your spacious patio overlooking the beautiful yard and lush greenbelt and enjoy the sounds of the babbling creek. Ideal central location near Park Royal/Lions Gate bridge, schools, transit, Capilano Regional Park, trail to the seawall and not too close to the highway. AKING PRICE IS LESS THAN PREVIOUSLY ACCEPTED OFFER PRICE! Great value-great home. OPEN SUNDAY 16 JUNE 2-4. Signs from Taylor Way into Keith Road (first traffic light up Taylor Way from Marine Drive)


#9 ) Address:4717 WOODGREEN DR, Cypress Park, West Vancouver

June 20, 2007 V654185 $1,849,000 $0 0%
June 26, 2007 V654185 removed after 6 days
July 28, 2007 V661274 $1,749,000 $-100,000 -5%
August 30, 2007 V661274 removed after 33 days
July 22, 2012 V963354 $2,338,000 $0 0%
September 11, 2012 V963354 $2,260,000 $-78,000 -3%
September 20, 2012 V963354 $2,175,000 $-163,000 -7%
October 03, 2012 V963354 $1,998,000 $-340,000 -15%
January 01, 2013 V963354 removed after 163 days
January 05, 2013 V983579 $1,998,000 $-340,000 -15%
March 08, 2013 V983579 removed after 62 days
April 04, 2013 V998933 $1,998,000 $-340,000 -15%
June 06, 2013 V998933 removed after 63 days
June 07, 2013 V1011540 $1,898,000 $-440,000 -19%

v1011540_1

Current Days on Market: 328 (0.90years)
Current ‘Official’ Days on Market: 8
2012 Assessment: $2,030,000
Desperation Score: 34.2

This home has been within $100K of it’s current price for over 8 months after $340K of drops last year.  Currently listed for 6% below assessment

This home is stunning from the Cherry floors to the granite and stainless kitchen. Features include 4,190 sq. ft. of living space, 4 bedrooms up including a stunning master ensuite, huge decks, a potential nanny suite down and a 3 car garage. The family room is huge opening off the kitchen and out to a south-facing covered patio. The layout is fantastic and designed for families. Just steps to parks and trails and minutes to Caulfeild and Rockridge schools. A quality home that is only 10 years old.


#8 ) Address:5968 MARINE DR, Eagleridge, West Vancouver

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%

v992869_1

Current Days on Market: 598 (1.64years)
Current ‘Official’ Days on Market: 107
2012 Assessment: $4,686,000
Desperation Score: 35.4

Down 39% and close to $4 million in a little over a year and a half

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…


#7 ) 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: 1557 (4.27years)
Current ‘Official’ Days on Market: 63
2012 Assessment: $6,768,500
Desperation Score: 36.3

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 and has already listed for well over 4 years

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!


#6 ) Address:555 INGLEWOOD AV, Cedardale, West Vancouver

July 25, 2007 V660621 $1,135,000 $0 0%
September 26, 2007 V660621 $1,085,000 $-50,000 -4%
November 20, 2007 V660621 removed after 118 days
November 23, 2007 V678838 $1,049,000 $-86,000 -8%
January 29, 2008 V678838 removed after 67 days
January 18, 2012 V925985 $3,188,000 $0 0%
April 04, 2012 V925985 $3,088,000 $-100,000 -3%
May 08, 2012 V925985 removed after 111 days
May 11, 2012 V949526 $3,288,000 $0 0%
June 02, 2012 V949526 $2,880,000 $-408,000 -12%
September 24, 2012 V949526 removed after 136 days
September 27, 2012 V973687 $2,799,000 $-489,000 -15%
October 19, 2012 V973687 $2,488,000 $-800,000 -24%
March 05, 2013 V973687 removed after 159 days
March 14, 2013 V995438 $2,398,000 $-890,000 -27%
June 07, 2013 V995438 $2,298,000 $-990,000 -30%

v995438_1

Current Days on Market: 514 (1.41years)
Current ‘Official’ Days on Market: 93
2012 Assessment: $1,585,000
2011 Assessment: Unfinished at time of assessment
Desperation Score: 37.7

“Open house March 17, 2-4” – oh wait… Down close to a million and 30% on this new build.  Lot was worth over a million way back in 2007 and I bet this home came close to another million all-in to demolish, plan and build.  Already they would have been much better off selling the lot

Magnificent brand new 4 bedroom 5 bath architecturally designed custom built home completed in 2012 by a builder for himself (no HST) No expense spared, the quality of this home is amazing. Wonderful open plan for entertaining features include polished granite, hardwood floors, gorgeous European contemporary style kitchen with Miele appliances and Caesar stone counters, beautifully designed bathrooms, high quality mill work throughout with solid core fir doors and window frames, radiant floor heat powered by a high efficiency Viessman boiler and recessed lighting. This home located centrally in West Vancouver is very close to some of West Vancouver’s best schools, Park Royal Shopping and with easy access to downtown. Don’t wait to view this wonderful home. Open house March 17, 2-4


#5 ) 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%
May 06, 2013 V1003794 removed after 7 days
May 21, 2013 V1006856 $3,150,000 $-2,138,000 -40%

v1006856_1

Current Days on Market: 800 (2.19years)
Current ‘Official’ Days on Market: 25
2012 Assessment: $2,532,000
Desperation Score: 39.5

Even after a recent $150K price increase this place still makes #5 on the list after over 2 years on the market

This luxury, 3 level estate home of approximately 5,000 sq. ft. is situated in a very private setting with outstanding south/southwest ocean views from this approximately 14,000 sq.ft, gated property. Enter into a grand foyer. Main level features include gourmet chef’s kitchen, large, open eating area, pantry and adjoining family/media room. Large, open dining and living room are perfect for entertaining. Upper level features a spacious master bedroom with cut granite fire place, 6 pc ensuite, walk-in closet, study and private balconies. 3 additional bedrooms with en-suites. Lower level has a theatre room, custom wine cellar, guest suite and mud room off the large 2 car garage. Incredible ocean views and sunsets from the private terraces for a perfect entertainment setting complete with a lovely negative edge outdoor pool and hot tub. Too many features to list. Minutes to Caulfield Village, Thunderbird Marina and Gleneagles Golf Course and Horseshoe Bay. Don’t miss out!


#4 ) Address:1388 21ST ST, Ambleside, West Vancouver

April 25, 2012 V945353 $2,480,000 $0 0%
June 12, 2012 V945353 $2,090,000 $-390,000 -16%
July 11, 2012 V945353 removed after 77 days
July 14, 2012 V961936 $2,090,000 $-390,000 -16%
July 31, 2012 V961936 $1,990,000 $-490,000 -20%
September 12, 2012 V961936 removed after 60 days
September 15, 2012 V971460 $1,990,000 $-490,000 -20%
September 24, 2012 V971460 removed after 9 days
September 30, 2012 V974315 $1,799,000 $-681,000 -27%
January 01, 2013 V974315 removed after 93 days
January 06, 2013 V983742 $1,880,000 $-600,000 -24%
May 30, 2013 V983742 removed after 144 days
June 06, 2013 V1010657 $1,785,000 $-695,000 -28%

v1010657_1

Current Days on Market: 416 (1.14years)
Current ‘Official’ Days on Market: 9
2012 Assessment: $1,740,000
2011 Assessment: $1,602,000
Desperation Score: 39.6

They tried bumping up their price recently but apparently didn’t get the news flash that this doesn’t work.  “mbdm”, “familyrm”, “ktchn”, “bthrms” – they aren’t at their description length limit so why do stupid stuff like this?

Dundarave Ambleside Living at its Best! Impressive 4500 sq.ft. 23 yr. old 6 bdrm home has one of the most panoramic westerly water views in West Vancouver. Completely renovated with style this family floor plan features 4 bedrooms up with spacious mbdm and stunning 5 piece ensuite. Main floor: open plan ktchn w/ connecting eating area and familyrm, separate living and dining room and home office w/ attached 2 car garage. Down: teenagers dream w/media and rec room, hot tub sauna room, and 2 additional bedrooms (could also be for extended family). Renovations include: gourmet kitchen w/ caesarstone counters, new cabinetry and stainless steel appliances, walnut HW floors, 4 new bthrms and much more. Close to schools, Rec Centre.


#3 ) Address:2410 OTTAWA AV, Dundarave, West Vancouver

June 21, 2012 V957586 $2,498,000 $0 0%
September 18, 2012 V957586 removed after 89 days
September 20, 2012 V972297 $2,298,000 $-200,000 -8%
February 01, 2013 V972297 removed after 134 days
February 03, 2013 V988802 $2,298,000 $-200,000 -8%
March 06, 2013 V988802 $2,198,000 $-300,000 -12%
April 02, 2013 V988802 removed after 58 days
May 25, 2013 V1008569 $2,099,000 $-399,000 -16%
June 02, 2013 V1008569 $1,998,000 $-500,000 -20%
June 02, 2013 V1008569 removed after 8 days
June 07, 2013 V1011192 $1,998,000 $-500,000 -20%

v1011192_1

Current Days on Market: 359 (0.98years)
Current ‘Official’ Days on Market: 8
2012 Assessment: $1,897,000
Desperation Score: 41.7

Based on their pricing strategy I’d expect another $100K drop in the next couple of weeks

An absolutely gorgeous Dundarave view property situated on a sun drenched totally private view lot with surrounded by gorgeous gardens, lawns and private decks,and just a short stroll to Dundarave Village, Irwin park School and the Seawall Offering over 4200 sq/ft on 3 levels this wonderful family home designed by Thompson Berwick Pratt offers the complete package. Lower level has been completely redone, main and upper offer fantastic large open spaces and a super floor plan. Sensational Close in Water and City views from several of the primary rooms. Offering 5 beds, 4 baths, and a fantastic fully matured property perfect for the whole family to enjoy and a location that is absolutely pefect!!


#2 ) Address:340 SOUTHBOROUGH DR, British Properties, West Vancouver

October 11, 2009 V792540 $3,860,000 $0 0%
June 30, 2010 V792540 removed after 262 days
July 15, 2010 V842055 $3,450,000 $-410,000 -11%
March 29, 2011 V842055 removed after 257 days
November 12, 2011 V919542 $4,088,000 $0 0%
April 03, 2012 V919542 $3,698,000 $-390,000 -10%
May 10, 2012 V919542 removed after 180 days
May 19, 2012 V951089 $3,695,000 $-393,000 -10%
June 13, 2012 V951089 $3,495,000 $-593,000 -15%
July 05, 2012 V951089 $3,295,000 $-793,000 -19%
July 17, 2012 V951089 removed after 59 days
July 20, 2012 V962823 $3,295,000 $-793,000 -19%
September 11, 2012 V962823 removed after 53 days
September 13, 2012 V971083 $3,198,000 $-890,000 -22%
December 17, 2012 V971083 removed after 95 days
January 20, 2013 V986212 $3,250,000 $-838,000 -20%
April 29, 2013 V986212 removed after 99 days
May 01, 2013 V1004257 $3,098,000 $-990,000 -24%
May 22, 2013 V1004257 removed after 21 days
May 30, 2013 V1009593 $2,980,000 $-1,108,000 -27%

v1009593_1

Current Days on Market: 581 (1.59years)
Current ‘Official’ Days on Market: 16
2012 Assessment: $2,348,000
2011 Assessment: $2,292,000
Desperation Score: 44.3

This British Properties home has been listed for a year and a half and dropped $1.1 million and 27% yet is still 25% over assessment

Opulent “Russel Hollingsworth” home situated on the edge of the 17th Green at Capilano Golf Course. Over 3,000 sq ft of exquisitely finished floor space spread over 3 levels. The main floor is very open with 7 sets of sliding glass doors opening to the manicured gardens, pond & view of the golf course. High end finishing’s throughout including Brazilian Cherry floors, granite counters & a stainless steel kitchen island. The kitchen is opened to, & placed in between the dining room & family room making it a terrific Great Room. Upstairs rests the master bedroom with golf course views & a second bedroom, while the third bedroom is below the main. Walking distance to Collingwood school, short drive to Hollyburn. Open Saturday 1-4


#1 ) Address:2383 FOLKESTONE WY, Panorama Village, West Vancouver

July 22, 2012 V963335 $1,888,000 $0 0%
August 15, 2012 V963335 $1,798,000 $-90,000 -5%
September 13, 2012 V963335 removed after 53 days
September 20, 2012 V972321 $1,788,000 $-100,000 -5%
October 05, 2012 V972321 $1,688,000 $-200,000 -11%
November 21, 2012 V972321 removed after 62 days
November 23, 2012 V980957 $1,598,000 $-290,000 -15%
February 18, 2013 V980957 removed after 87 days
February 20, 2013 V991387 $1,498,000 $-390,000 -21%
March 07, 2013 V991387 removed after 15 days
April 04, 2013 V998939 $1,488,000 $-400,000 -21%
May 22, 2013 V998939 $1,378,000 $-510,000 -27%
May 28, 2013 V998939 removed after 54 days
May 30, 2013 V1009540 $1,375,000 $-513,000 -27%

v1009540_1

Current Days on Market: 328 (0.90years)
Current ‘Official’ Days on Market: 16
2012 Assessment: $1,136,000
Desperation Score: 48.9

And the most desperate property in West Vancouver is in Panorama Village – funny that they were trying to sell a townhouse for $1.888 million!  “West Vancouver’s largest view carriage home” is kind of like saying “the worlds tallest midget” – doesn’t really work very well.  Perfect as a “pied-a-terre” – well you don’t actually own the land but don’t let things like that bother you from writing your fantastic description.  To be fair, it’s a nice looking place if it wasn’t for the insane prices they have been trying to get and the maintenance fee is $600/month!!!

I am proud to present West Vancouver’s largest view carriage home at prestigious Westpointe. This one-of-a-kind gated home has been extensively updated with taste, ingenuity, and the creation of a home office, fourth bedroom/bathroom, and a recreation/theater room. BBQ and relax on 450 sq ft of covered outdoor living space to take in sweeping ocean and city views from Mount Baker to Vancouver Island. Enjoy spacious living, 12.5′ vaulted ceilings, gas/wood burning fireplaces, HVAC, elevator access, grocery lift, swimming pool/tennis court, & a private over height garage. Developed by reputable Polygon Homes with a 10 year warranty on the rain-screened envelope plus new windows, decks, & glass railings. Great value, spectacular views, & security in a tranquil, prestigious, & convenient location close to Mulgrave and Collingwood private schools. Perfect for families, downsizers, and as a pied-a-terre. OPEN SUN 2-4.