Vancouver Price Drop

Documenting Vancouver real estate price movements

Vancouver East Spotlight – June 12, 2013

Here are the top 10 most desperate properties in Vancouver East.

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:3337 WORTHINGTON DR, Renfrew Heights, Vancouver East

October 22, 2011 V916805 $799,800 $0 0%
November 05, 2011 V916805 $770,000 $-29,800 -4%
December 09, 2011 V916805 removed after 48 days
December 14, 2012 V982560 $1,798,000 $0 0%
January 25, 2013 V982560 removed after 42 days
February 03, 2013 V988380 $1,599,000 $-199,000 -11%
May 28, 2013 V988380 removed after 114 days
June 02, 2013 V1010150 $1,488,000 $-310,000 -17%

v1010150_1

Current Days on Market: 181 (0.50years)
Current ‘Official’ Days on Market: 11
2012 Assessment: Building Unfinished
2011 Assessment: $723,100
Desperation Score: 27.4

This new build is down $310K and 17% in the last 4 and a half months

Brand new top quality luxurious 3 level house in popular Renfrew Heights. Total 6 bedrooms, 6 full baths, gourmet kitchen & wok kitchen, air conditioning, HRV & security system. Beautiful views of Northshore mountains & unobstructed view of Falasic Park. Close to shopping, Superstore, Walmart, Canadian Tire & Renfrew skytrain station. 2-5-10 year new home warranty. GST included. All measurement approx. Public open house on June 09, 2013, 2pm – 4pm.


#9 ) Address:4794 FRASER ST, Fraser, Vancouver East

October 06, 2006 V606719 $419,000 $0 0%
October 07, 2006 V606719 removed after 1 days
May 16, 2007 V647632 $649,000 $0 0%
May 30, 2007 V647632 removed after 14 days
November 04, 2011 V918227 $825,000 $0 0%
January 10, 2012 V918227 $898,100 $0 0%
January 16, 2012 V918227 removed after 73 days
May 28, 2012 V952925 $899,000 $0 0%
June 06, 2012 V952925 $849,000 $-50,000 -6%
June 22, 2012 V952925 removed after 25 days
July 13, 2012 V961812 $859,000 $-40,000 -4%
August 11, 2012 V961812 $829,000 $-70,000 -8%
October 18, 2012 V961812 $799,900 $-99,100 -11%
January 17, 2013 V961812 removed after 188 days
January 23, 2013 V986567 $798,000 $-101,000 -11%
April 02, 2013 V986567 removed after 69 days
April 07, 2013 V999446 $780,000 $-119,000 -13%
April 22, 2013 V999446 removed after 15 days
April 25, 2013 V1003054 $770,000 $-129,000 -14%

v1003054_1

Current Days on Market: 587 (1.61years)
Current ‘Official’ Days on Market: 49
2012 Assessment: $780,000
2011 Assessment: $810,000
Desperation Score: 27.5

“Won’t last – hurry up and get this great house before it’s gone! Open House Sunday April 28th 2-4pm.” – listed for over a year and a half and they haven’t even updated the open house date from a month and a half ago…  Now listed below assessment.  “a great cash maker”…

Great corner lot, RT2 duplex zone, great for investors, has 3 suites to rent in one of the best parts of Fraser, close to new Shoppers Drug Mart & Starbucks. 3 bedrooms on main & 3 bedrooms in basement, you can also have a 2 bdrm separate suite upstairs – a great cash maker. Fantastic view of North Shore mountains off the huge sundeck. Won’t last – hurry up and get this great house before it’s gone! Open House Sunday April 28th 2-4pm.


#8 ) Address:# 21 120 POWELL ST, Downtown, Vancouver East

October 11, 2007 V673052 $1,499,000 $0 0%
February 07, 2008 V673052 $1,649,000 $0 0%
March 19, 2008 V673052 $1,499,000 $-150,000 -9%
April 03, 2008 V673052 removed after 175 days
April 10, 2008 V699975 $1,495,000 $-154,000 -9%
May 22, 2008 V699975 removed after 42 days
May 28, 2008 V711694 $1,375,000 $-274,000 -17%
July 22, 2008 V711694 $1,299,000 $-350,000 -21%
November 05, 2008 V711694 removed after 161 days
November 14, 2008 V743667 $1,198,850 $-450,150 -27%
December 05, 2008 V743667 $999,950 $-649,050 -39%
February 28, 2009 V743667 $850,000 $-799,000 -48%
April 15, 2009 V743667 removed after 152 days
April 20, 2009 V761858 $849,900 $-799,100 -48%
May 15, 2009 V761858 removed after 25 days
May 31, 2012 V953481 $1,988,000 $0 0%
July 11, 2012 V953481 $1,890,000 $-98,000 -5%
July 24, 2012 V953481 $1,940,000 $-48,000 -2%
August 30, 2012 V953481 removed after 91 days
September 07, 2012 V969684 $1,940,000 $-48,000 -2%
October 12, 2012 V969684 removed after 35 days
January 18, 2013 V985852 $1,880,000 $-108,000 -5%
March 08, 2013 V985852 removed after 49 days
April 26, 2013 V1003365 $1,699,000 $-289,000 -15%

v1003365_1

Current Days on Market: 378 (1.04years)
Current ‘Official’ Days on Market: 48
2012 Assessment: $1,019,000
2011 Assessment: $954,000
Desperation Score: 27.5

Listed and presumably sold for around $850K in 2009 then relisted 3 years later for $1.15 million (about 140%) MORE then the previous sale!!!  They came down slightly before bumping the price up again and now are “down” to $1.7 million.  This apartment is assessed at just over $1 million.  

Welcome home, is the first thing you’ll think when walking through the front doors at the “Pilkington House” loft. I emphasis “home” as it feel like a grand, cozy home with that warm, historic, NYC kind of modern edge.This bright,massive 3 bed, 2 bath corner loft spans 2700sft, with 9.5ft ceiling, polished concrete floors, complete high-end renovation throughout with a functional, comfortable floor plan for a full family, couple or that single bachelor/ette Boutique building with only 6 units & 2 per floor, in the centre of Gastown’s world famous shops and eats. Sharing an unbeatable, manicured rooftop patio with 180 views of the mountain, water and city 2 SECURE UNDERGROUND PARKING. Open house Saturday May 11th 2-4pm.


#7 ) Address:3387 WILLIAM ST, Renfrew, Vancouver East

June 17, 2009 V772169 $528,000 $0 0%
July 11, 2009 V772169 $513,000 $-15,000 -3%
July 24, 2009 V772169 removed after 37 days
December 03, 2009 V799754 $599,000 $0 0%
March 29, 2010 V799754 removed after 116 days
September 17, 2010 V850631 $888,000 $0 0%
December 07, 2010 V850631 $868,000 $-20,000 -2%
April 01, 2011 V850631 removed after 196 days
November 10, 2011 V919271 $939,000 $0 0%
January 10, 2012 V919271 removed after 61 days
February 07, 2012 V927878 $938,000 $-1,000 0%
February 16, 2012 V927878 removed after 9 days
June 11, 2012 V955796 $1,078,000 $0 0%
November 01, 2012 V955796 removed after 143 days
March 06, 2013 V994039 $1,075,000 $-3,000 0%
April 05, 2013 V994039 $1,059,000 $-19,000 -2%
April 16, 2013 V994039 $1,039,000 $-39,000 -4%
April 27, 2013 V994039 $1,029,000 $-49,000 -5%
May 22, 2013 V994039 $1,010,000 $-68,000 -6%
May 30, 2013 V994039 removed after 85 days
June 09, 2013 V1011744 $999,000 $-79,000 -7%

v1011744_1

Current Days on Market: 581 (1.59years)
Current ‘Official’ Days on Market: 4
2012 Assessment: $956,000
2011 Assessment: $931,000
Desperation Score: 28.0

Sold for $930,000 on Feb 5, 2012 so if sold at current list price the net profit after transactional fees would be $14K.  They relisted this place for $148K more than they paid for it less than 4 months after they bought it…  They also claim that the 1st showing is June 11th but of course we can see that this is a lie

3 level custom built home in a fantastic area by a 25 year experienced builder with top quality construction, premium materials, features granite counter tops, radiant heat, HRV, crown moulding & detail finishing. High efficiency heat exchange & boiler system. This 3 level house consists of 6 bedrooms with master bedroom on top with large patio & nicely complimented with a 2+1 mortgage helper below. Centrally located close to transit, shopping & Rupert Park & Golf Course. ACT FAST! 1st showing June 11th.


#6 ) Address:3108 E 62ND AV, Champlain Heights, Vancouver East

February 02, 2007 V627889 $849,000 $0 0%
June 13, 2007 V627889 removed after 131 days
October 19, 2012 V977169 $1,219,000 $0 0%
January 16, 2013 V977169 removed after 89 days
February 20, 2013 V991574 $1,100,000 $-119,000 -10%
May 22, 2013 V991574 removed after 91 days
May 30, 2013 V1009532 $1,025,000 $-194,000 -16%
June 04, 2013 V1009532 $998,800 $-220,200 -18%

v1009532_1

Current Days on Market: 237 (0.65years)
Current ‘Official’ Days on Market: 14
2012 Assessment: $1,096,000
2011 Assessment: $1,089,000
Desperation Score: 29.0

Why would you write “Property contains unauthorized accommodations.” as the opening sentence in your description?  Currently listed for about $100K below assessment

Property contains unauthorized accommodations. Italian built home on huge 50 frontage lot in serene Champlain Heights neighbourhood! Features 3 bedrooms up, 2 bedrooms down, 2.5 baths, spacious enclosed sun room,vaulted ceilings, bright skylights, 4 fireplaces, gorgeous Italian mouldingsthroughout, large sundeck& private fenced back yard, just steps to park, bus, schools & shopping! All measurements are approx and to be verified by buyers.


#5 ) Address:1067 E 54TH AV, South Vancouver, Vancouver East

August 11, 2012 V966047 $1,988,000 $0 0%
April 01, 2013 V966047 removed after 233 days
May 11, 2013 V1006586 $1,788,000 $-200,000 -10%
June 02, 2013 V1006586 removed after 22 days
June 06, 2013 V1010736 $1,599,000 $-389,000 -20%

v1010736_1

Current Days on Market: 306 (0.84years)
Current ‘Official’ Days on Market: 7
2012 Assessment: $1,471,000
2011 Assessment: $1,411,000
Desperation Score: 29.4

“priced to sell!” at over $100K above assessment.  In fact it was also listed as “priced to sell” back when it was $1.788 million

Well kept owner-built 2 levels house sitting on a rare found 40.12 x 204.5 lot, this hidden gem in South Vancouver area offers over 4600 sf living area. 9′ ceiling on the main floor, featured with a good size den / ensuite with walk in closet; open kitchen with quartz counter top, pantry could be easily converted into a wok kitchen; brand new painting; 2 gas fireplaces. 4 bedrooms up with 3 full bath, potential 2 2-bedroom suites in basement for mortgage helper. Extra large covered sundeck, double garage with long drive way for extra parking. Convenient location, steps to transits and shops, minutes to Richmond. Henderson Elementary / John Oliver Secondary catchment. Call for details / showings, priced to sell!


#4 ) Address:1438 E 61ST AV, Fraserview, Vancouver East

April 05, 2012 V941291 $1,299,000 $0 0%
May 16, 2012 V941291 removed after 41 days
May 19, 2012 V951314 $1,299,000 $0 0%
June 19, 2012 V951314 $1,268,000 $-31,000 -2%
September 22, 2012 V951314 $1,099,000 $-200,000 -15%
October 06, 2012 V951314 $1,268,000 $-31,000 -2%
February 20, 2013 V951314 removed after 277 days
February 24, 2013 V992609 $1,268,000 $-31,000 -2%
March 23, 2013 V992609 $1,198,800 $-100,200 -8%
June 06, 2013 V992609 $1,148,000 $-151,000 -12%

v992609_1

Current Days on Market: 434 (1.19years)
Current ‘Official’ Days on Market: 109
2012 Assessment: $1,140,000
2011 Assessment: $1,084,000
Desperation Score: 33.6

This home is still listed higher than the price from September.  After over a year on the market and failed attempts at selling for a lower price you would figure they would do the obvious thing and price it below $1.099 million

Deluxe 3 level home in desirable Fraser View area! Features: Brand new laminate flooring, new window glass, 7 bdrm, title roof, radiant heating, marble gas fireplace, culture mable window sills, granite countertop in kitchen and washrooms and top it off with parnoramic view of Richmond. Also, potential for a 2-bdrm suite in basement with separate entrance. Central location: close to Sir James Douglas Annex (elementary / French immersion), David Thompson Secondary), shopping on Victoira Dr’s Chinatown, buses and skytrain! Come take a look!! OPEN HOUSE: SUN (Jun 9) 2 – 4PM


#3 ) Address:# 1701 4028 KNIGHT ST, Knight, Vancouver East

September 13, 2008 V733120 $690,000 $0 0%
November 10, 2008 V733120 removed after 58 days
November 21, 2008 V744494 $658,000 $-32,000 -5%
March 12, 2009 V744494 removed after 111 days
March 20, 2009 V757592 $565,000 $-125,000 -18%
May 01, 2009 V757592 $595,000 $-95,000 -14%
May 07, 2009 V757592 removed after 48 days
June 08, 2012 V955321 $988,000 $0 0%
July 07, 2012 V955321 removed after 29 days
November 03, 2012 V979082 $798,000 $-190,000 -19%
November 24, 2012 V979082 $778,000 $-210,000 -21%
January 31, 2013 V979082 $899,000 $-89,000 -9%
February 07, 2013 V979082 $889,000 $-99,000 -10%
February 16, 2013 V979082 removed after 105 days
March 18, 2013 V996275 $788,000 $-200,000 -20%
May 12, 2013 V996275 removed after 55 days
May 21, 2013 V1008093 $768,000 $-220,000 -22%

v1008093_1

Current Days on Market: 370 (1.01years)
Current ‘Official’ Days on Market: 23
2012 Assessment: $642,000
2011 Assessment: $636,000
Desperation Score: 34.4

22% in price drops and still 20% OVER assessment

King Edward Village…Bright and Spacious South exposure 3 bedroom, 2 bathroom PENTHOUSE home with 3 large rooftop patios! Floor to ceiling windows in this home to take advantage of the unobstructed vibrant 270 degree views of English Bay and the Mountains. Features include stainless steel appliances, kitchen with granite counter tops, ceramic tile flooring, hardwood flooring, insuite washer/dryer and plenty of storage. Fantastic location! Minutes to downtown. Close to parks, transit, banks, VPL, and grocery shopping at your doorstep. 2 parking and 1 locker included! Open House June 1st & 2nd from 2-4pm.


#2 ) Address:6505 BUTLER ST, Killarney, Vancouver East

November 04, 2006 V619795 $688,000 $0 0%
May 09, 2007 V619795 $673,000 $-15,000 -2%
June 15, 2007 V619795 removed after 223 days
September 02, 2007 V666522 $688,000 $0 0%
October 16, 2007 V666522 removed after 44 days
April 21, 2011 V883641 $1,180,000 $0 0%
June 23, 2011 V883641 removed after 63 days
May 18, 2012 V951012 $2,148,000 $0 0%
August 29, 2012 V951012 removed after 103 days
September 06, 2012 V969275 $1,978,000 $-170,000 -8%
November 20, 2012 V969275 removed after 75 days
December 24, 2012 V983094 $1,898,000 $-250,000 -12%
April 01, 2013 V983094 removed after 98 days
April 12, 2013 V1000599 $1,888,888 $-259,112 -12%
April 19, 2013 V1000599 $1,799,999 $-348,001 -16%
May 21, 2013 V1000599 $1,749,000 $-399,000 -19%
May 22, 2013 V1000599 removed after 40 days
May 30, 2013 V1009680 $1,789,000 $-359,000 -17%

v1009680_1

Current Days on Market: 391 (1.07years)
Current ‘Official’ Days on Market: 14
2012 Assessment: $1,680,000
2011 Assessment: Building Unfnished at time of assessment
2011 Last Sale: $840,000 on 19/Jan/2011
Total Profit IF sold for list price: 75,492 transaction costs and 949,000 profit on sale = Profit of 873,508 minus cost to build
Desperation Score: 37.4

I love the $1,888,888 price from a couple of months ago.  If they don’t start pricing this home better they will be getting into the red pretty quickly

Close to Community Centres, Transit, Schools, Gorgeous parks, Golf Course & the Best Shopping in the Lower Mainland. This Brand New, 7-Bedroom home in Central Killarney is the perfect Family Dwelling. With 4,123 sq. ft., 10-ft ceilings, and potential 2 Bsmt Suites all on a large 43 ft. by 140 ft. Lot. You’ve got all the space you need & more. Aspiring chefs will love the Open Kitchen w/ white Maple Cabinets & Separate Spice Kitchen. Finishing touches include Engineered Hardwood, Crown Moulding & Paneling, Air Conditioning, Entertainment Room, & Security Cameras for peace of mind. With Experienced Builders at the helm & a 2-5-10 New Home Warranty, This Home is an Excellent Family Investment. OPEN HOUSE Sat & Sun June1 & 2 2-4PM


#1 ) Address:5651 TYNE ST, Collingwood, Vancouver East

October 06, 2006 V597192 $850,000 $0 0%
October 31, 2006 V597192 $825,000 $-25,000 -3%
December 11, 2006 V597192 $789,000 $-61,000 -7%
December 23, 2006 V597192 $774,000 $-76,000 -9%
January 16, 2007 V597192 removed after 102 days
February 15, 2007 V630590 $798,000 $-52,000 -6%
May 01, 2007 V630590 removed after 75 days
December 13, 2007 V680991 $829,000 $-21,000 -2%
March 11, 2008 V680991 removed after 89 days
March 19, 2008 V695379 $839,900 $-10,100 -1%
May 17, 2008 V695379 $834,900 $-15,100 -2%
June 10, 2008 V695379 $829,000 $-21,000 -2%
July 13, 2008 V695379 removed after 116 days
July 20, 2008 V723671 $829,900 $-20,100 -2%
October 31, 2008 V723671 removed after 103 days
March 18, 2009 V757317 $818,000 $-32,000 -4%
March 26, 2009 V757317 $799,000 $-51,000 -6%
April 03, 2009 V757317 $789,000 $-61,000 -7%
May 05, 2009 V757317 $778,000 $-72,000 -8%
May 20, 2009 V757317 $759,000 $-91,000 -11%
May 29, 2009 V757317 $788,000 $-62,000 -7%
July 01, 2009 V757317 removed after 105 days
October 10, 2010 V854314 $889,000 $0 0%
November 15, 2010 V854314 removed after 36 days
April 05, 2012 V941363 $1,249,000 $0 0%
May 30, 2012 V941363 $1,224,000 $-25,000 -2%
June 08, 2012 V941363 $1,199,000 $-50,000 -4%
September 18, 2012 V941363 $1,099,000 $-150,000 -12%
October 03, 2012 V941363 removed after 181 days
October 05, 2012 V975151 $999,000 $-250,000 -20%
January 01, 2013 V975151 removed after 88 days
January 23, 2013 V986377 $1,068,000 $-181,000 -14%
February 13, 2013 V986377 $1,038,000 $-211,000 -17%
May 01, 2013 V986377 removed after 98 days
May 05, 2013 V1005411 $999,999 $-249,001 -20%
May 25, 2013 V1005411 $980,000 $-269,000 -22%

v1005411_1

Current Days on Market: 434 (1.19years)
Current ‘Official’ Days on Market: 39
2012 Assessment: $927,000
2011 Assessment: $874,000
Desperation Score: 40.9

And here is the winner!  Since 2006 this property has been listed every single year excluding 2011.

Just steps to Starbucks and walking distance to Joyce skytrain station is this immaculate 10 year old “as new” 2080 sq ft residence of distinction. Affordability is enhanced by the 1 bdrm + 2 bdrm ground level suite renting out for $1800 per month. Great family accomodation with 3 bedrooms up which is owner occupied. Nice view to the west from this special family home. Note: 3 kitchens

17 responses to “Vancouver East Spotlight – June 12, 2013

  1. fish10 June 12, 2013 at 10:50 pm

    From the last one.

    ‘Note: 3 kitchens’ …in a 200 sq foot house! They should have added.”You don’t have to walk far if you are hungry and want to rustle something up.”

  2. Craig Sterling June 13, 2013 at 2:36 am

    Thanks as always observer. I really appreciate your work. As always, I’ll make my little plea for a “gulf islands special” one of these fine days – but I know you have other things to do with your life than respond to obscure requests! Cheers – Craig Sterling

  3. RFM June 13, 2013 at 8:02 am

    There is much to be gleaned about the state of the market from #2, #9 and #10:

    #2: A speculative developer paid $840,000 for #2 as a ‘tear-down,’ spent ‘about’ another $850,000 to design, permit and build a new house and hoped to make ‘about’ $450,000 profit for his labors. It didn’t work. Now, at the current price, he’s probably facing a break-even proposition at best. This will influence his mind-set about doing another new speculative house and what he’ll pay for the next ‘tear down.’

    Ditto #10: A speculative developer paid ‘about’ $750,000 for # 10 as a ‘tear-down,’ spent ‘about’ another $700,000 to design, permit and build a new house and hoped to make ‘about’ $400,000 profit for his labors. It didn’t work. Now, at the current price, he’s probably facing a break-even proposition at best.

    Both of which explain #9: The owner could have sold this ‘tear down’ for ‘about’ $700,000 a couple years ago, but the owner was greedy. Now, priced where it would have sold back then, it will not sell and we’ll see further price erosion. At what price will it sell? The current ad does not feature any additional photos, but it looks like anyone with $700,000 to spend would not want to live there, so it’s really a ‘tear down.’ Worth $550,000? Maybe. When #2 and #10 sell then that type of developer will have to decide what they’ll pay for a development lot, IF they do another project.

    I am seeing this scenario play out all over Vancouver and environs. When the US Fed and/or BOC increase interest rates, all bets are off.

    • an observer June 13, 2013 at 8:17 am

      This is being played out over and over all over the greater vancouver area. New builds sitting even when reduced to break even or worse, tear downs sitting because builders are catching on that new builds are not moving and livable homes sitting because they can’t compete with the new builds. Seems to me like some sort of tipping point is being reached

    • Saj June 13, 2013 at 11:16 am

      Great info, thanks. How are you estimating newbuild permit/design/building costs? Just from experience or some rule of thumb based on sqft?

      • RFM June 13, 2013 at 3:41 pm

        I use $200 psf of finished space as a VERY rough estimate of costs of demolition, architectural, construction, landscaping, etc. This is for ‘average’ construction. You can easily spend more than that for anything that is remotely ‘custom.’

  4. Brian June 13, 2013 at 8:23 am

    I pass by #2 all the time. It’s been on the market for a while. It’s right next to 49th Ave, so it’s not quiet. They’ve had many realtors try to sell that house, even the great MIchelle Yu

  5. Roy June 13, 2013 at 9:15 am

    Van East is one of the few communities in the city that can still move property at a half decent pace. May 2013 property was not a bad month for sales there. However, the stats I observed on Van East showed that homes priced over $1.5 million are basically not moving. I translate that to mean these properties are generally overpriced in the context of the community they are in.

  6. Skook June 13, 2013 at 11:34 am

    #1 – Listing has obviously become a hobby.

    Makes me think of May on the Sunshine Coast – the traditonal month for hanging out the ‘For Sale’ signs. After years of watching the ritual as I travelled the highway, I came to the conclusion it was just a fun thing to do – but, if someone happened to present a totally over-the-top offer, bonus!!

  7. dan June 13, 2013 at 11:17 pm

    Most of these house are for sale by delusional sellers or people fishing for stupid prices. You really should put your talents to better use. If I were you, I’d provide a website which shows the best relative value and charge $1,000 to buyers who request your assistance buying a home.

    Have you ever thought of using your talents in a more productive way?

    • an observer June 14, 2013 at 7:53 am

      My talents have already been used in productive ways – this is a hobby.

      Additionally, I don’t think your concept would work. Relative value is different from individual to individual and even using something like assessment is not close to being accurate. Two side by side homes built in the same year, with the same square footage on the same lot size will have the same assessment more or less but can be completely different in terms of condition, quality etc.

      However, there is a profession where people take clients and bring them to homes where they think there is good relative value for their specific needs – it’s called a realtor!

      • Natalie June 14, 2013 at 11:16 am

        ..and typically, a Realtor does this “relative value” idea, free of charge to buyers by way of a comparative market analysis on homes in the areas of choice. Fabulous idea though 😉

      • gokou3 June 14, 2013 at 12:39 pm

        Well for the typical (fill in expletive here) realtors, “relative value” is a shady strategy used on naive buyers by first showing them two shitty places and then a half-decent third place so the buyers would jump on that one.

      • Natalie June 14, 2013 at 9:55 pm

        gokou3: Wouldn’t you agree that with the internet giving the public access to all available properties on the MLS, this would be difficult for realtors to do? Regardless, the fact that this is the perception is really sad. Maybe what we need to regulate the industry is a form of “silent shoppers” as “silent buyers/sellers”…that test and monitor the integrity of the Realtors.

  8. Vancouverguy June 14, 2013 at 7:49 am

    #1 I love the street name “Worthington Drive” guess they assume the houses are “worth” more than the assessed!

  9. Whipmaster November 17, 2013 at 4:48 pm

    Oh… by the way 4794 Fraser apparently sold for $699. It was purchased in 2006 for $560.
    How much did the owner spend renovating or fixing? Dunno.
    But I would bet that he ain’t hurtin’ . 🙂

    • an observer November 17, 2013 at 5:30 pm

      Let’s just pretend they spent $0 in renovations. So they made $139K. Take off $10K for property transfer tax, $4k on legal / misc fees for buying and selling and $25K on commission. That drops the profit to $100K or less than 18% in 7 years… doesn’t even cover inflation.

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