Vancouver Price Drop

Documenting Vancouver real estate price movements

Vancouver West Detached Spotlight – June 6, 2013

Here are the top 10 most desperate detached properties in Vancouver West.  I will go through city by city over the next couple of weeks

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:2923 W 34TH AV, MacKenzie Heights, Vancouver West

February 16, 2012 V931628 $1,898,000 $0 0%
February 29, 2012 V931628 $1,830,000 $-68,000 -4%
March 06, 2012 V931628 $1,760,000 $-138,000 -7%
April 13, 2012 V931628 $1,719,000 $-179,000 -9%
April 25, 2012 V931628 removed after 69 days
April 30, 2012 V946558 $1,668,000 $-230,000 -12%
May 16, 2012 V946558 removed after 16 days
November 09, 2012 V979741 $2,788,000 $0 0%
December 09, 2012 V979741 removed after 30 days
December 10, 2012 V982268 $2,588,000 $-200,000 -7%
April 01, 2013 V982268 removed after 112 days
April 07, 2013 V999393 $2,488,000 $-300,000 -11%

v999393_1

Current Days on Market: 477 (1.31years)
Current ‘Official’ Days on Market: 61
2012 Assessment: Building unfinished at time of assessment
2011 Assessment: $1,623,900

2012 Last Sale: $1,568,000 on 12/May/2012 
Total Profit IF sold for list price: 110K transaction costs and 920K profit on sale = Profit of $810K minus cost of build

Desperation Score: 30.5

This new build is down $300K and if you look at the pictures it is pretty plain to see that this isn’t going to sell anywhere near the current price – this is an ugly home by any measure.  They likely have at least $300K of profit still on the current asking price but I’d expect that to dwindle down to nothing or more likely a loss before it is sold

Price includes GST. Never lived in. Brand new luxurious home in MacKenzie Heights. 10′ on main, high ceiling on upper and 9′ on basement. Open and spacious layout on main. All bedrooms ensuited on upper and possibly one bedroom suite down. Good quality and workmanship throughout. Air con, HRV, stainless steel fridge, stove and dishwasher. Wine cooler. Wok Kitchen. Crystal lightings. Marble countertops in all baths. TV and entertainment unit in Fam Rm. Lawn sprinkler sys. Great location. Priced to sell quick! Act Fast! Open House 2-4 pm Sundays.


#9 ) Address:5730 ATHLONE ST, South Granville, Vancouver West

August 01, 2009 V779865 $1,980,000 $0 0%
October 21, 2009 V779865 $1,849,000 $-131,000 -7%
November 16, 2009 V779865 removed after 107 days
March 27, 2010 V817854 $2,138,800 $0 0%
June 13, 2010 V817854 $2,098,000 $-40,800 -2%
June 23, 2010 V817854 $2,100,000 $-38,800 -2%
July 24, 2010 V817854 removed after 119 days
February 01, 2012 V928522 $4,888,000 $0 0%
May 15, 2012 V928522 $4,488,000 $-400,000 -8%
October 21, 2012 V928522 removed after 263 days
November 04, 2012 V979239 $4,500,000 $-388,000 -8%
January 25, 2013 V979239 $4,298,000 $-590,000 -12%
May 01, 2013 V979239 removed after 178 days
May 21, 2013 V1007033 $4,120,000 $-768,000 -16%
June 06, 2013 V1007033 $3,988,000 $-900,000 -18%

v1007033_1

Current Days on Market: 492 (1.35years)
Current ‘Official’ Days on Market: 17
2012 Assessment: $3,934,000
2011 Assessment: Building Unfnished at time of assessment
Desperation Score: 30.7

This new build is now down $900K and finally is approaching assessment but even after close to a $1 million drop from the initial price they are still probably sitting on $750K of profit if they were to sell at ask

A LUXURY MANSION WHERE CLASSIC MEETS CONTEMPORARY. TRULY A MASTERPIECE IN MOST PRESTIGIOUS SOUTH GRANVILLE. Situated on a beautiful 60×145 LOT (8700 sq ft), this MAGNIFICENT CUSTOM BUILT HOME features 5210 sq ft, 7 generous bedrooms, 6.5 baths & 4 car garage. ATTENTION to detail in workmanship w/exceptional & supreme finishing. OPEN CONCEPT LIVING, 10’ceilings, grand foyer, spacious living & dining room, impressive gourmet kitchen, wok kitchen w/ high-end, motorized cabinetry, Miele, Bosch & Subzero appliances, huge family rm overlooking the PARK-LIKE GARDEN. HUGE rec room, HOME THEATRE, wine cellar, sauna, steam bath, radiant heat, A/C, HRV & secured fenced yard. ERIC HAMBER & OSLER SCHOOL, UBC.


#8 ) 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%
May 21, 2013 V998120 $3,580,000 $-2,400,000 -40%

v998120_1

Current Days on Market: 506 (1.39years)
Current ‘Official’ Days on Market: 70
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: 168,440 transaction costs and 600,000 profit on sale = Profit of 431,560
Desperation Score: 32.6

These morons buy the place for $2.98 million and then relist less than a year later for double at $5.98 million.  That price was not for a custom gold mansion built on the lot – it was for the exact same home.  They have now dropped $2.4 million and hopefully will drop another million or more before it sells

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


#7 ) Address:3390 THE CRESCENT, Shaughnessy, Vancouver West

January 30, 2010 V806985 $17,900,000 $0 0%
August 01, 2010 V806985 removed after 183 days
October 28, 2011 V917626 $31,900,000 $0 0%
September 25, 2012 V917626 removed after 333 days
September 27, 2012 V973696 $22,800,000 $-9,100,000 -29%
January 18, 2013 V973696 $19,900,000 $-12,000,000 -38%
April 16, 2013 V973696 $17,800,000 $-14,100,000 -44%

v973696_1

Current Days on Market: 588 (1.61years)
Current ‘Official’ Days on Market: 253
2012 Assessment: $16,076,000
2011 Assessment: $15,788,000
Desperation Score: 32.7

$14 million drop and counting.  This Vancouver Price Drop hall of famer was apparently purchased for $6 million about 7 or 8 years ago based on some comments from before

Location! In the heart of the 1st Shaughnessy! Rare find 10,516 sf Mansion sets on over One acre in the city’s most exclusive enclave of ‘The Crescent’. The finest and the most prestigious area. Beautiful huge front yard like a private park. Totally rewired and new pipes. The main floor has a grand entry w/a sweeping staircase to second floor. Wok Kitchen, massive living room, & dining room all overlook the garden & pool area. The paneled den, family room & breakfast room open to the large deck which access the garden & pool. The master suite has three dressing rooms, a fireplace. A large recreation room in basement. 5 car garages, a greenhouse & a outdoor pool w/large cab and more.


#6 ) Address:3838 W 50TH AV, Southlands, Vancouver West

August 15, 2012 V966440 $6,000,000 $0 0%
January 12, 2013 V966440 $5,750,000 $-250,000 -4%
April 17, 2013 V966440 $5,000,000 $-1,000,000 -17%
June 02, 2013 V966440 $4,250,000 $-1,750,000 -29%

v966440_1

Current Days on Market: 296 (0.81years)
Current ‘Official’ Days on Market: 296
2012 Assessment: $4,830,000
2011 Assessment: $5,215,000
Desperation Score: 33.3

#6 and #5 are two large lots in the southlands area.  Both are down $1.75 million and their assessment dropped $400K each over the last year.  At their current prices they seem like relatively good deals if you have some deep pockets since they each could be separated into 4 quarter acre lots

Rare opportunity to acquire a single-family development site on the West Side of Vancouver with subdivision potential. This site has 132′ of frontage along both West 50TH and 51ST Avenue and a depth of 297′ with an ideal configuration to be subdivided into four (4) 66′ single-family lots. The Property is located directly across from Point Grey Golf & Country Club. The adjacent property at 3862 West 50TH with the same dimensions is also listed for sale (see MLS# V966447) and can be acquired as a package.


#5 ) Address:3862 W 50TH AV, Southlands, Vancouver West

August 15, 2012 V966447 $6,000,000 $0 0%
January 12, 2013 V966447 $5,750,000 $-250,000 -4%
April 24, 2013 V966447 $5,000,000 $-1,000,000 -17%
June 02, 2013 V966447 $4,250,000 $-1,750,000 -29%

v966447_1

Current Days on Market: 296 (0.81years)
Current ‘Official’ Days on Market: 296
2012 Assessment: $4,830,000
2011 Assessment: $5,215,000
Desperation Score: 33.9

Rare opportunity to acquire a single-family development site on the West Side of Vancouver with subdivision potential. The site has 132′ of frontage along both West 50TH and West 51ST Avenue and a depth of 297′ with an ideal configuration to be subdivided into four (4) 66′ single-family lots. The Property is located directly across from Point Grey Golf & Country Club. The adjacent property at 3838 West 50TH with the same dimensions is also listed for sale (see MLS# V966440) and can be acquired as a package.


#4 ) Address:3450 PUGET DR, Arbutus, Vancouver West

April 17, 2009 V761564 $1,389,000 $0 0%
July 01, 2009 V761564 removed after 75 days
July 19, 2009 V777695 $1,380,000 $-9,000 -1%
August 07, 2009 V777695 removed after 19 days
March 14, 2010 V815179 $3,288,000 $0 0%
June 15, 2010 V815179 removed after 93 days
June 17, 2010 V837363 $3,288,000 $0 0%
July 08, 2010 V837363 $3,480,000 $0 0%
October 31, 2010 V837363 removed after 136 days
November 05, 2010 V857290 $3,480,000 $0 0%
January 25, 2011 V857290 removed after 81 days
January 28, 2011 V865880 $3,380,000 $-100,000 -3%
April 21, 2011 V865880 $3,688,000 $0 0%
May 05, 2011 V865880 removed after 97 days
May 19, 2011 V889194 $3,688,000 $0 0%
October 03, 2011 V889194 removed after 137 days
October 07, 2011 V914344 $3,688,000 $0 0%
February 08, 2012 V914344 $3,495,000 $-193,000 -5%
May 01, 2012 V914344 removed after 207 days
May 21, 2012 V951363 $3,380,000 $-308,000 -8%
July 03, 2012 V951363 removed after 43 days
July 12, 2012 V961551 $3,333,000 $-355,000 -10%
October 01, 2012 V961551 removed after 81 days
October 05, 2012 V975211 $2,980,000 $-708,000 -19%
October 24, 2012 V975211 $3,280,000 $-408,000 -11%
December 04, 2012 V975211 removed after 60 days
December 06, 2012 V982029 $3,280,000 $-408,000 -11%
February 01, 2013 V982029 removed after 57 days
February 13, 2013 V990056 $3,188,000 $-500,000 -14%
May 09, 2013 V990056 removed after 85 days
May 11, 2013 V1006637 $3,130,000 $-558,000 -15%
May 21, 2013 V1006637 $3,188,000 $-500,000 -14%

v1006637_1

Current Days on Market: 1181 (3.24years)
Current ‘Official’ Days on Market: 27
2012 Assessment: $3,166,000
2011 Assessment: $3,386,000
Desperation Score: 36.4

This home has been listed for over 3 years with 12 different MLS numbers (not including 2 MLS numbers for the lot back in 2009), 7 price drops and 4 price increases!  It’s still over $200K higher than the price it had for 3 weeks last October!

PRICE! PRICE! PRICE! A quality built home in a quiet and beautiful street Arbutus area. Over 4,00 SF with 4 ensuites up, beautiful cross hall living and dining room layout on main, spacious kitchen with high-end cabinet, stone counter top, eating area, family room and a den. Basement features media room, sauna, recreation room and 2 bedrooms and 2 baths. Custom designed features included A/C, HRV, steam shower and jacuzzi tub in master bedroom, high efficiency energy saving floor heating system, high ceiling all 3 floors, sub-zero fridge, 4 car garage, etc. School: Carnarvon Elementary School and Prince Of Wales Secondary. Good price and good area. Don’t miss it! All meas approx. Buyers need to verify.


#3 ) Address:2656 W 41ST AV, Kerrisdale, Vancouver West

June 18, 2010 V837762 $929,000 $0 0%
August 13, 2010 V837762 removed after 56 days
March 04, 2012 V935348 $2,488,000 $0 0%
April 11, 2012 V935348 $2,388,000 $-100,000 -4%
April 24, 2012 V935348 $2,260,000 $-228,000 -9%
May 23, 2012 V935348 $1,998,000 $-490,000 -20%
May 28, 2012 V935348 removed after 85 days
May 31, 2012 V953373 $1,955,000 $-533,000 -21%
June 25, 2012 V953373 removed after 25 days
June 29, 2012 V959234 $1,880,000 $-608,000 -24%
September 07, 2012 V959234 removed after 70 days
October 05, 2012 V975091 $2,295,000 $-193,000 -8%
November 13, 2012 V975091 removed after 39 days
November 16, 2012 V980268 $2,088,000 $-400,000 -16%
February 01, 2013 V980268 removed after 77 days
February 23, 2013 V992255 $1,999,000 $-489,000 -20%

v992255_1

Current Days on Market: 460 (1.26years)
Current ‘Official’ Days on Market: 104
2012 Assessment: $1,945,000
2011 Assessment: Building Unfnished at time of assessment
Desperation Score: 39.5

This Kerrisdale home has “HST included” which is great considering the HST is no longer here… way to stay on top of things.  It has been listed for 1.26 years and it’s another home that is still listed above prices it didn’t sell for last year.  They actually pulled the listing and relisted for 20% higher last October!  Brilliant move – you may have sold at $1.9 if you kept the price there but now you’re going to sell for less

Brand new family home in the heart of Kerrisdale. 2-5-10 year warranty. Extra deep 33×134′ lot. Extremely quiet inside. Light, bright & airy; overheight ceilings with skylights throughout. Top of the line appliances: Viking, Subzero. Beautiful dream kitchen perfect for entertaining or great family moments. Floor to ceiling glass sliding doors off kitchen area brings the outdoors in. Meticulous attention to detail from designer tiles to restoration hardware touches. All upstairs bedrooms are ensuite. 2 bdrm basement can be suited w/own laundry. A must see at this spectacular value. Kerrisdale Elem & Pt. grey Sec catchment. Also close to best private schools: Crofton House, St. Georges. HST included.


#2 ) Address:2167 W 34TH AV, Quilchena, Vancouver West

June 25, 2010 V838946 $2,488,000 $0 0%
September 01, 2010 V838946 removed after 68 days
September 24, 2010 V851576 $2,488,000 $0 0%
October 01, 2010 V851576 removed after 7 days
March 08, 2012 V935855 $5,190,000 $0 0%
April 12, 2012 V935855 $4,960,000 $-230,000 -4%
July 13, 2012 V935855 removed after 127 days
July 20, 2012 V962833 $4,690,000 $-500,000 -10%
October 01, 2012 V962833 removed after 73 days
October 05, 2012 V975277 $4,980,000 $-210,000 -4%
January 09, 2013 V975277 $4,650,000 $-540,000 -10%
January 31, 2013 V975277 removed after 118 days
February 06, 2013 V988850 $4,480,000 $-710,000 -14%
May 02, 2013 V988850 removed after 85 days
May 09, 2013 V1005716 $3,990,000 $-1,200,000 -23%

v1005716_1

Current Days on Market: 456 (1.25years)
Current ‘Official’ Days on Market: 29
2012 Assessment: $3,611,000
2011 Assessment: $3,439,000
Desperation Score: 40.0

This home has dropped $1.2 million after raising their price by $2.7 million following a renovation

Elegantly renovated over 5,000 sq ft luxury living sitting on over 8,500sq ft lot in Vancouver Quilchena cul-de-sac area. South facing. Magnificent water and mountain view from the above level. Grand high ceiling foyer, large and unique design kitchen with brand new high-end appliances. Very Cozy family room, and modern living area. 4 spacious bedrooms up/each with its en suite. Separated entrance basement has media room, wet bar, pool game recreation center, fitness and sauna spa room. Huge line-accessed garage. Japanese garden and north facing private yard. Close to school and community center. School catchment is PG Secondary.


#1 ) Address:1010 W 57TH AV, South Granville, Vancouver West

April 09, 2012 V941837 $6,988,000 $0 0%
July 07, 2012 V941837 $5,988,000 $-1,000,000 -14%
January 16, 2013 V941837 removed after 282 days
January 25, 2013 V987185 $5,488,000 $-1,500,000 -21%
April 24, 2013 V987185 $4,999,888 $-1,988,112 -28%
May 10, 2013 V987185 $4,388,888 $-2,599,112 -37%
June 02, 2013 V987185 $3,999,888 $-2,988,112 -43%

v987185_1

Current Days on Market: 424 (1.16years)
Current ‘Official’ Days on Market: 133
2012 Assessment: $3,353,000
2011 Assessment: $3,152,000
Desperation Score: 50.8

And in first place is this home in South Granville which has dropped 43% and $3 million in a little over a year.  “Please don’t be discouraged by Oak st traffic, built sound proof.” and “easy access to Richmond” 

A truly master piece built by experienced west side builder, Tamanna Holdings. Magnificent custom built quality home located in prestigious South Granville location. Please don’t be discouraged by Oak st traffic, built sound proof. This executive comes with a total of 6880 SF (6128 +750 LWH mentioned in floor area finished bsmt) & consists of 10 bedrooms, 10 bathrooms & 4 kitchens. High end appliances, gourmet kitchen, wok kitchen, wet bar, home theatre, outdoor heated swimming pool, hot tub, steam bath in & outdoor waterfall, central AC, HRV, fenced yard & everything you could think of Churchill Sec, UBC, shopping, transit, easy access to Richmond. Absolute superb quality, design & workmanship. Definitely a pride of ownership.

Advertisements

19 responses to “Vancouver West Detached Spotlight – June 6, 2013

  1. RFM June 6, 2013 at 6:36 pm

    So many unsold new houses……..somebody’s gonna get hurt!
    Here is a trend I am seeing: I ride my bicycle around here and there every week with a friend; we noodle along, looking at all the new houses under construction where they paid $1.2M to $2.3M for the old ‘wreck.’ We have now identified dozens of these construction sites where the new house under construction has not seen any activity for anywhere from a month to several months. Not a thing. No workers, no construction supplies delivered, no weeds mowed, nothing. Dozens. Something is happening and yet I have not read a single report about a slowdown in construction.

    Next, the Private Residences at the Hotel Georgia: I walked around the building 2 weeks ago, viewing it from several blocks away and counting the empty apartments. 156 apartments. I guesstimate that 70% are empty and unsold. In the last few days, the front street-level windows of the building have been plastered with garish orange advertising signs “Move in now” and the new realtor is……………Rennie Marketing Systems…………..expected to pull a rabbit out of a hat? Time will tell, but unless they slash the prices on this C- location, it will sit unsold, just like Olympic Village.

    Finally, the five-unit strata development called ‘Strathcona Gateway’ at the southeast corner of Gore Avenue and Union Street in Strathcona in Vancouver East that I have monitored since completion: still priced above assessment, all 5 units still unsold and now, the original development sign on the property, proclaiming ‘Move in January 2012′ even needs repainting!
    Your roving reporter.

    • Landbaron June 6, 2013 at 8:47 pm

      Three buildings across from the OV are set to open in the fall (1 already has), and they are priced lower than 3 year old OV resales I’ve seen on MLS. Ouch for the sellers, Rennie’s in trouble.

      Great reporting BTY, keep it up

    • Real Estate Tsunami June 7, 2013 at 9:10 am

      Thanks RFM,
      For your reports from the trenches.

    • Ford Prefect June 8, 2013 at 7:23 pm

      I have noticed much the same thing here in the Comox Valley – numbers and data are very useful but very striking changes in activity that are not yet registering in prices or sales figures may be just as useful. Last year the roads here were clogged with vehicles bearing logos such as “Willy’s Wiring”, “Ray’s Roofing”, “Peter’s Plumbing” etc. etc. Now you have to search very hard to find any such vehicles and the few you do find tend to be operated by old established contracting firms in the area.

  2. Village Whisperer June 6, 2013 at 7:01 pm

    #1 is right at Oak and W. 57th and is one buck-ugly house.

    • volleyho June 9, 2013 at 1:23 am

      I drive by this POS eye sore every day, totally out of character for that neighborhood. Everyday I wonder what kind of moron would even consider buying this ugly house.

  3. Seeking Knowledge... June 6, 2013 at 9:54 pm

    Thanks Observer. I especially like the Van West spotlights because it will be one of the hardest hit considering how much it went up in the past decade due to over hype. Speculators who dumped millions of dollars into their RE investment must be starting to sweat considering how much property tax and maintenance they are paying to keep it on the market. When interest rates starts climbing, this will be like the proverbial slow cooking of the frog.

  4. Life in Langley June 6, 2013 at 10:21 pm

    Stupid listings are not only seen in Vancouver. Seems like there is a shortage of oxygen in Langley too ! Look at listing F1310180. Built a year ago and trying to beat out a listing down the street in Castle Hill Estates by $500,000. Hoping to use Sotheby’s won’t get you an extra $600 g’s!

  5. J levine June 7, 2013 at 8:50 am

    Well done RFM for your comment. When local BC doctors (for example) earn around $200k after expenses (before tax) .Who is going to come up with the hard cash to live in these overpriced WOODFRAME homes if they cannot get a “generous” bank loan?

  6. LadyInWaiting June 7, 2013 at 1:38 pm

    Would it be possible to do a relative price drop list. When you do this using an absolute drop value, we only ever get to see the pricey properties–they have much farther to fall. Just a suggestion.

    • an observer June 7, 2013 at 1:55 pm

      Hi, the desperation meter formula does use relative drop and the other listings also use relative drop. The reason you don’t see many lower priced properties in the Vancouver West list is because they are 1) generally less ridiculous with initial prices and 2) can only get so low until a builder can justify purchasing it for land value

  7. Pingback: Vancouver West Detached Spotlight – June 6, 2013 | Vancouver Price Drop | The Affluent Boomer

  8. Devore June 7, 2013 at 9:27 pm

    #9 is pure greed. Listed Feb 2012 in time for prime buying season, with plenty of 8s in the price, could have easily sold at today’s price or higher and huge profits, but greed prevailed.

    #1 ugly as sin. Beauty (and gaudiness) is truly in the eye of the beholder.

  9. Natalie June 8, 2013 at 7:52 am

    I first thought this was a joke, then maybe a misprint…
    http://www.housingblock.com/for-sale/1319-stensrud-road-saskatoon-sk-s7w-0c6/p_6773467/#.UbNDu75rbIW

    …and people complain about Vancouver being over priced? I might be missing something but I don’t think I’d be spending over a million in Saskatchewan for anything, let alone this home.

    • an observer June 8, 2013 at 8:19 am

      That’s just bizarre! I had expected to see that it was sitting on 500 acres or maybe was a 10,000 sqft mansion but no. Almost makes me want to make SaskatoonPriceDrop to see this one drop!

  10. McLovin June 8, 2013 at 8:13 pm

    Thank you again for this site. More than any other it is a splash of cold water over the heads of the house horny and people who have been taken by the media. You may not realize it but you have likely saved a lot of people a lot of heart ache.

  11. Real Estate Tsunami June 9, 2013 at 7:20 am

    Townhouse prices in Richmond have been sticky so far
    But this seems to be changing.
    V992193 just dropped the price by 60 k.
    There are few other Townhomes in the area for Sale. The Townhomes are in the Imperial Landing area.
    This should be interesting

  12. Real Estate Tsunami June 9, 2013 at 7:26 am

    Speaking of Imperial Landing in Steveston, Richmond.
    The new village developed by ONNI is not doing well.
    The residential units are not renting well, and the commercial units are all empty.
    The developers and the lenders must be bleeding money like crazy.

  13. Saj June 16, 2013 at 11:37 am

    Looks like #3 just changed MLS numbers (again) and lowered its price (again), this time another $200K+ or 10%+. Look forward to the next installment of this area; will be uglier!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: