Vancouver Price Drop

Documenting Vancouver real estate price movements

The Weekly Drop – September 30, 2013

Here are the top 30 properties that changed their price or were relisted under a new MLS number the previous 2 weeks AND have dropped the largest percentage overall from their original asking price

Maple Ridge dominates with 8 properties on the list, Abbotsford 4, Coquitlam 3 and West Vancouver and Langley with 2 each

Take a look at #25 in a prime area of Burnaby which, if sold for asking, would lose the current owners over $550K and 25% in a little over a year.  “Feng Shui is #1 here”


#30 ) Address:# 117 99 BEGIN ST, Maillardville, Coquitlam

July 25, 2009 V778668 $179,900 $0 0%
August 28, 2009 V778668 removed after 34 days
May 22, 2011 V889915 $199,000 $0 0%
July 12, 2011 V889915 $195,000 $-4,000 -2%
July 30, 2011 V889915 $189,900 $-9,100 -5%
August 17, 2011 V889915 removed after 87 days
June 09, 2013 V1011700 $189,000 $-10,000 -5%
August 07, 2013 V1011700 removed after 59 days
August 22, 2013 V1023199 $149,000 $-50,000 -25%
September 07, 2013 V1023199 $139,000 $-60,000 -30%
September 23, 2013 V1023199 $134,000 $-65,000 -33%

v1023199_1

Current Days on Market: 115 (0.32years)
Current ‘Official’ Days on Market: 41
2012 Assessment: $144,800
2011 Assessment: $91,000
Desperation Score: 18.6

Excellent opportunity to own this bright, 1 bedroom condo, in the heart of the up and coming Maillardville. Close to everything you need, Le Chateau is a great complex in a quiet cul-de-sac. This unit has a gas fireplace, balcony facing courtyards, laminate, parking stall and a storage unit. Pets allowed. Great investment for first time home buyer or investor. Best price in the neighbourhood.


#29 ) Address:19792 1ST AV, Campbell Valley, Langley

February 04, 2012 F1202932 $3,880,000 $0 0%
March 09, 2012 F1202932 $3,688,000 $-192,000 -5%
August 31, 2012 F1202932 removed after 209 days
September 07, 2012 F1222358 $3,688,000 $-192,000 -5%
January 23, 2013 F1222358 $3,495,000 $-385,000 -10%
February 21, 2013 F1222358 removed after 167 days
February 24, 2013 F1304318 $3,395,000 $-485,000 -13%
June 02, 2013 F1304318 $2,998,000 $-882,000 -23%
July 13, 2013 F1304318 $2,799,000 $-1,081,000 -28%
August 15, 2013 F1304318 removed after 172 days
August 24, 2013 F1319862 $2,799,000 $-1,081,000 -28%
September 25, 2013 F1319862 removed after 32 days
September 30, 2013 F1322598 $2,599,000 $-1,281,000 -33%

downloadhp

Current Days on Market: 606 (1.66years)
Current ‘Official’ Days on Market: 2
2012 Assessment: $2,008,000
Desperation Score: 46.7

Spectacular modern Country flair describes this 1 year old residence located in South Langley’s Prestigious High Point Estates. Just Under 7000 SF on 3 fully finished levels situated on a 27,000 Sq foot lot. Custom built for present owners by “Rick Penner of Rodell Developments Inc.” Superior Luxury quality describes this home. 6 bedrooms 6 bathrooms Great Room design. Gourmet Kitchen with Sub Zero Side by Side Fridge/Freezer. Beautiful Kitchen Island and eating area flowing into the family room overlooking the South Facing in ground Gunite pool & grounds. Spectacular stairway leading to 4 large bedrooms on upper floor including a grand master ste w/spa style ensuite. All bdrms have ensuites. Lower level Games rm, professional gym, bdrm, state of the art media room & a one of a kind must see wine room. The beautiful curb appeal is only the start of this home. Triple car side garage, in ground Gunite pool in the sundrenched private rear yard with outdoor kitchen w/Pizza oven is a children & adult playground. * PREC – Personal Real Estate Corporation


#28 ) Address:4596 CEDARCREST AV, Canyon Heights, North Vancouver

May 16, 2012 V950279 $1,495,000 $0 0%
November 22, 2012 V950279 removed after 190 days
November 24, 2012 V981099 $1,099,000 $-396,000 -26%
June 30, 2013 V981099 removed after 218 days
September 25, 2013 V1028823 $999,000 $-496,000 -33%

v1028823_1

Current Days on Market: 504 (1.38years)
Current ‘Official’ Days on Market: 7
2012 Assessment: $1,187,900
Desperation Score: 24.9

Charming two bedroom side split with great street appeal. Beautifully landscaped gardens with in ground sprinklers on an oversized and usable 11,368 sq. ft. private lot. Renovated kitchen with light shaker style cabinets, Corian counter tops with centre island, gas cooktop and top of the line stainless appliances. The fully finished bright basement includes a family room, generous laundry room and powder room. Sunny and private lot offers a great opportunity to build your dream home in a coveted neighbourhood. Canyon Heights and Handsworth catchments. Priced well below assessment ($1,187,900). Perfect for empty nesters, small family or builder. 1ST OPEN SUNDAY SEPT 29TH 2pm — 4pm.


#27 ) Address:7766 216TH ST, Willoughby Heights, Langley

October 02, 2007 F2725272 $2,000,000 $0 0%
February 08, 2008 F2725272 removed after 129 days
April 09, 2011 F1109313 $2,999,000 $0 0%
June 27, 2011 F1109313 removed after 79 days
May 21, 2013 F1311234 $2,480,000 $-519,000 -17%
September 25, 2013 F1311234 $1,999,000 $-1,000,000 -33%

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Current Days on Market: 134 (0.37years)
Current ‘Official’ Days on Market: 134
2012 Assessment: $1,245,000
Desperation Score: 27.9

Great Holding property while enjoying this spectacular 11 ACRE property with no Creek and gently sloping parcel. When the 216th St Interchange part of #1 Hwy improvements underway this property will experience great escalation in value. Quality built 4 bdrm executive house with 2X6 construction, new roof 2007, radiant heating on all 3 floors, custom designed oak kitchen with special made drawers and shelves. All 4 bedrooms have an enste and masterbdrm has Jacuzzi bath and shower. Spectacular view to Mt. Baker from both floors. Rock and marble F/p in living rm. Basement boasts of cold storage and unfinished space for workshop. Very private setting w/detached 3 BAY WORKSHOP & woodworking area & hay barn!


#26 ) Address:# 106 1669 GRANT AV, Glenwood, Port Coquitlam

June 05, 2008 V713796 $239,900 $0 0%
August 01, 2008 V713796 $226,900 $-13,000 -5%
November 01, 2008 V713796 removed after 149 days
April 17, 2009 V761356 $215,900 $-24,000 -10%
September 16, 2009 V761356 $209,900 $-30,000 -13%
October 16, 2009 V761356 removed after 182 days
November 05, 2009 V796143 $209,000 $-30,900 -13%
May 22, 2010 V796143 $199,900 $-40,000 -17%
July 16, 2010 V796143 removed after 253 days
September 20, 2013 V1028164 $159,900 $-80,000 -33%

No Picture

Current Days on Market: 12 (0.03years)
Current ‘Official’ Days on Market: 12
2012 Assessment: $167,100
Desperation Score: 9.0

“The Charleston” Court Ordered Sale – Spacious 1 bedroom plus den, boasting over 750 square feet, facing rear of complex. Great floor plan with large kitchen, open living and dining area, gas fireplace, insuite laundry and closed den area, with French door and window (small 2nd bedroom??). Good size bedroom with large walk-in closet. Home faces the rear of the complex and is pleasantly quiet and private. Large 9′ by 8’6 concrete covered patio area. Located short walk to shopping, transportation, schools and Mclean Park. Shows reasonably well, but is sold on a “As is Where is” basis. Building has been rain-screened and new roof is be installed this fall. Building contains exercise area and common area lounge with billiards table.


#25 ) 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%
August 01, 2013 V998392 removed after 123 days
August 10, 2013 V1021639 $2,068,000 $-632,000 -23%
August 24, 2013 V1021639 $1,966,000 $-734,000 -27%
September 17, 2013 V1021639 removed after 38 days
September 20, 2013 V1028082 $1,799,000 $-901,000 -33%

v1028082_1

Current Days on Market: 185 (0.51years)
Current ‘Official’ Days on Market: 12
2012 Assessment: $2,076,000

2012 Last Sale: $2,250,000 Jun 3, 2012
Total Loss IF sold for list price: $104K in transaction costs and $451K loss on sale = LOSS of $555K or 25% in a little over a year!!!
Desperation Score: 52.1

(Open House Sept 28th, Saturday 1-4pm). Prime location in the prestigious Government Rd area. Steps to shopping, bus & skytrain & best schools nearby. Beautiful Italian home with huge lot 70′ x 140′, Interior 5778 SF, 4 bedrooms up, 1 bdrm down, 6 baths. Featuring luxurious kitchen + wok, home theatre with Karaoke system, floor to ceiling projection display. 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 Italian design & built home. Call now.


#24 ) Address:6054 EGMONT RD, Pender Harbour, Sunshine Coast

March 09, 2012 V915421 $899,000 $0 0%
March 13, 2012 V915421 removed after 4 days
March 30, 2012 V940027 $849,000 $-50,000 -6%
June 28, 2012 V940027 $799,000 $-100,000 -11%
December 02, 2012 V940027 removed after 247 days
March 16, 2013 V995768 $675,000 $-224,000 -25%
July 18, 2013 V995768 $629,000 $-270,000 -30%
September 23, 2013 V995768 $599,000 $-300,000 -33%

v995768_1

Current Days on Market: 572 (1.57years)
Current ‘Official’ Days on Market: 200
2012 Assessment: $561,000
Desperation Score: 27.1

A Lakeside Retreat, 1.28 acre with 210′ shoreline on beautiful North Lake. This lake is crystal clear, drinking water lake, non-motorized boats only. West Coast style home boasting vaulted Great Room, 5 bdrm/5 bath with access onto approx 2700 sq ft of exterior deck, 3 gas f/p, 1 woodstove, Games Room, hot tub, 3 suites with kitchenettes, private dock with swim ladder. Southern exposure with mountain views, turtles, loons, nature and recreation galore. Lake boats, furnishings related to the B&B included. An ideal, private retreat just waiting for you!


#23 ) Address:11520 FIR ST, West Central, Maple Ridge

June 08, 2007 V652182 $1,249,900 $0 0%
October 01, 2007 V652182 removed after 115 days
January 24, 2010 V805779 $1,080,000 $-169,900 -14%
March 23, 2010 V805779 $950,000 $-299,900 -24%
December 31, 2010 V805779 removed after 341 days
May 01, 2011 V885627 $899,800 $-350,100 -28%
November 07, 2011 V885627 removed after 190 days
May 04, 2012 V947374 $849,900 $-400,000 -32%
October 31, 2012 V947374 removed after 180 days
September 23, 2013 V1028662 $824,900 $-425,000 -34%

v1028662_1

Current Days on Market: 9 (0.02years)
Current ‘Official’ Days on Market: 9
2012 Assessment: $573,000
Desperation Score: 10.8

VIEWS OF THE FRASER RIVER. If you are looking for total privacy with water conveniently located in west central Maple Ridge, you are home! This is a spacious 4 bdrm & 4 bath home with an open floor plan. The kitchen has been updated and has stainless steel appliances. The sunken living room has large windows and a beautiful rock fire place. The master bedroom is large with an ensuite that has it all. The basement is fully finished and had a rec room, hobby room and office. This home was built to enjoy the waterfront view with Mount Baker as the back drop. Please note that the driveway is steep.


#22 ) Address:1525 ERRIGAL PL, Canterbury, West Vancouver

October 06, 2006 V574814 $3,880,000 $0 0%
February 25, 2007 V574814 removed after 142 days
March 19, 2007 V635831 $3,480,000 $-400,000 -10%
August 08, 2007 V635831 $3,680,000 $-200,000 -5%
August 17, 2007 V635831 removed after 151 days
July 04, 2008 V720046 $4,480,000 $0 0%
February 25, 2009 V720046 removed after 236 days
March 14, 2012 V937025 $6,980,000 $0 0%
April 12, 2012 V937025 $5,980,000 $-1,000,000 -14%
July 20, 2012 V937025 removed after 128 days
July 25, 2012 V963588 $5,380,000 $-1,600,000 -23%
May 01, 2013 V963588 removed after 280 days
May 04, 2013 V1004956 $4,990,000 $-1,990,000 -29%
September 25, 2013 V1004956 $4,590,000 $-2,390,000 -34%

v1004956_1

Current Days on Market: 567 (1.55years)
Current ‘Official’ Days on Market: 151
2012 Assessment: $4,916,000
Desperation Score: 28.3

Magnificent View Mansion, offering luxurious living, is located in prestigious Canterbury w/ spectacular ocean & city view. Renovated with architectural flair, utmost care & quality this 7110 sf home offers on the main, formal grand LR & DR w/ stone F/P, imported Siematic kit with granite counters, limestone flr, Wolfe stove & Miele dishwasher, nook, adjoining FAMRM, study & guest BD. The upper floor feats a lavish master ste w/ sitting area, lux 6-pce marble-tiled bath w/ steam shower. The entrance has an impressive marble foyer w/ dble storey ceil, new media/recrm w/ wet bar & fantastic indoor pool.326,000 below assessment value.


#21 ) Address:# 302 1429 MERKLIN ST, White Rock, White Rock

June 21, 2008 F2818723 $241,900 $0 0%
June 28, 2008 F2818723 $239,900 $-2,000 -1%
October 01, 2008 F2818723 removed after 102 days
March 06, 2009 F2904429 $234,900 $-7,000 -3%
July 22, 2009 F2904429 $229,900 $-12,000 -5%
October 01, 2009 F2904429 removed after 209 days
October 12, 2011 F1125235 $209,900 $-32,000 -13%
November 05, 2011 F1125235 $206,900 $-35,000 -14%
January 31, 2012 F1125235 $199,900 $-42,000 -17%
March 31, 2012 F1125235 removed after 171 days
April 17, 2012 F1208502 $199,900 $-42,000 -17%
July 13, 2012 F1208502 $197,500 $-44,400 -18%
August 03, 2012 F1208502 $193,800 $-48,100 -20%
August 30, 2012 F1208502 $189,800 $-52,100 -22%
October 22, 2012 F1208502 removed after 188 days
October 28, 2012 F1226430 $179,900 $-62,000 -26%
January 17, 2013 F1226430 $174,800 $-67,100 -28%
March 08, 2013 F1226430 $169,900 $-72,000 -30%
May 01, 2013 F1226430 removed after 185 days
July 18, 2013 F1316728 $159,900 $-82,000 -34%
September 25, 2013 F1316728 removed after 69 days
September 28, 2013 F1322432 $157,900 $-84,000 -35%

f1322432_1

Current Days on Market: 721 (1.98years)
Current ‘Official’ Days on Market: 4
2012 Assessment: $154,800
2011 Assessment: $185,100
Desperation Score: 16.7

“Kensington Manor” in WHITE ROCK is a TOP FLOOR 2 bedroom 1 bathroom east facing condo with ocean & mountain views. This delightful building has been FULLY RAINSCREENED PLUS A NEW ROOF was done in 2008. NEW BOILER 2010. Fantastic location allows easy walking distances to shops/transit/community centre/hospital!!! MAINTENANCE FEE includes heat plus hot water!! Laundry on each floor plus common storage. This unit has tremendous potential & is awaiting your ideas, so call today to view. BYLAWS: 19+, building with no rentals and no pets. This is priced to sell NOW, OFFERS PLEASE!!


#20 ) Address:# 306 12238 224TH ST, East Central, Maple Ridge

September 09, 2008 V731865 $246,000 $0 0%
February 03, 2009 V731865 removed after 147 days
February 26, 2009 V754418 $236,000 $-10,000 -4%
July 16, 2009 V754418 removed after 140 days
July 22, 2009 V777981 $209,900 $-36,100 -15%
August 27, 2009 V777981 removed after 36 days
February 09, 2012 V930275 $209,900 $-36,100 -15%
April 27, 2012 V930275 removed after 78 days
September 20, 2013 V1028084 $159,900 $-86,100 -35%

v1028084_1

Current Days on Market: 12 (0.03years)
Current ‘Official’ Days on Market: 12
2012 Assessment: $187,900
Desperation Score: 10.2

Investor Alert!!! Spacious 1 Bedroom and Den in a Great Location just minutes to central Maple Ridge shops and Transit. Great South West exposure for enjoying the sunsets while sitting or barbequing on your own covered patio. Buy to own orbuy to rent in this 5 year new building with rec. room and exercise room. The seller will not accept any offers from employees of Toronto-Dominion bank or any of its subsidiaries.


#19 ) Address:10836 GREENWOOD DR, Mission-West, Mission

December 28, 2012 F1228986 $599,000 $0 0%
May 30, 2013 F1228986 removed after 153 days
June 02, 2013 F1313089 $489,000 $-110,000 -18%
June 19, 2013 F1313089 $459,000 $-140,000 -23%
August 01, 2013 F1313089 $429,000 $-170,000 -28%
August 14, 2013 F1313089 $399,000 $-200,000 -33%
September 17, 2013 F1313089 $389,000 $-210,000 -35%

f1313089_1

Current Days on Market: 278 (0.76years)
Current ‘Official’ Days on Market: 122
2012 Assessment: $518,000
Desperation Score: 29.7

6.42 acres!! Nestled on this secluded property in the hills sits a great 3 bed, 2 bath home PLUS a virtually new huge 55 x 36 ft barn/workshop in the back area of the lot behind the home. There’s also a 200×65 riding ring, fully drained – all weather and 3 large paddocks by ring. Great property for the horse enthusiast, hobby farmer, or?? With some work this sprawling property could once again shine to its full potential & and the mostly unfinished basement is awaiting your ideas!!! Sought after area just 15 minutes from Mission and surrounded by lakes and trails. Don’t wait — come check out this fantastic value today! NOTE: Access road off Shaw St. See Maps in “Attachments” for details. * PREC – Personal Real Estate Corporation


#18 ) Address:24665 103RD AV, Albion, Maple Ridge

February 05, 2007 V629073 $499,900 $0 0%
September 18, 2007 V629073 removed after 225 days
April 11, 2008 V700587 $549,000 $0 0%
June 10, 2008 V700587 $539,000 $-10,000 -2%
August 12, 2008 V700587 removed after 123 days
August 08, 2009 V780683 $512,000 $-37,000 -7%
November 30, 2009 V780683 removed after 114 days
April 11, 2010 V821290 $719,000 $0 0%
May 30, 2010 V821290 removed after 49 days
July 02, 2010 V840071 $719,000 $0 0%
January 01, 2011 V840071 removed after 183 days
February 26, 2011 V871814 $719,000 $0 0%
February 22, 2012 V871814 removed after 361 days
August 22, 2013 V1023132 $480,000 $-239,000 -33%
September 25, 2013 V1023132 $465,000 $-254,000 -35%

v1023132_1

Current Days on Market: 41 (0.11years)
Current ‘Official’ Days on Market: 41
2012 Assessment: $569,000
Desperation Score: 20.4

Lots of potential in this 5 bedroom 3 bathroom home located in the sought after Thornhill Heights neighborhood. Large unfinished basement with separate entrance awaits your ideas. Sold “AS IS”


#17 ) Address:# 303 7435 121A ST, West Newton, Surrey

June 08, 2007 F2714772 $279,000 $0 0%
June 21, 2007 F2714772 $269,000 $-10,000 -4%
August 11, 2007 F2714772 $250,000 $-29,000 -10%
September 11, 2007 F2714772 $239,900 $-39,100 -14%
November 01, 2007 F2714772 removed after 146 days
August 10, 2013 F1318781 $199,900 $-79,100 -28%
September 23, 2013 F1318781 $179,900 $-99,100 -36%

f1318781_1

Current Days on Market: 53 (0.15years)
Current ‘Official’ Days on Market: 53
2012 Assessment: $187,600
2011 Assessment: $194,400
Desperation Score: 12.7

STRAWBERRY HILLS ESTATES!!! If you are looking for something special you must see this one. 2 bedrooms separated by the living room. The spacious master bedroom has a full ensuite bathroom, with loads of closet space. Spacious kitchen with eating area. A cozy gas fireplace. Home also boasts in floor radiant heat, and laminate flooring. You will love the balcony for those early morning coffees, shopping, theaters and restaurants minutes away. The complex is well run and a great place to call home. Call now to view!!


#16 ) Address:12466 208TH ST, Northwest Maple Ridge, Maple Ridge

May 07, 2007 V645573 $434,900 $0 0%
June 21, 2007 V645573 removed after 45 days
August 22, 2012 V967424 $429,000 $-5,900 -1%
February 01, 2013 V967424 removed after 163 days
September 09, 2013 V1025917 $299,000 $-135,900 -31%
September 28, 2013 V1025917 $279,900 $-155,000 -36%

No Picture

Current Days on Market: 23 (0.06years)
Current ‘Official’ Days on Market: 23
2012 Assessment: $410,000
Desperation Score: 19.2

Superb building lot. Ex grow-up. Land value only. Being sold “as is, where is” with no interior house remediation.


#15 ) Address:2 BURRARD CR, College Park, Port Moody

July 28, 2007 V661233 $938,000 $0 0%
January 01, 2008 V661233 removed after 157 days
January 05, 2008 V682083 $988,000 $0 0%
March 27, 2008 V682083 removed after 82 days
May 17, 2008 V709820 $958,000 $-30,000 -3%
September 01, 2008 V709820 removed after 107 days
September 25, 2008 V735568 $938,800 $-49,200 -5%
January 01, 2009 V735568 removed after 98 days
March 15, 2009 V757090 $838,000 $-150,000 -15%
March 17, 2009 V757090 $808,000 $-180,000 -18%
May 06, 2009 V757090 removed after 52 days
May 14, 2011 V888183 $1,690,000 $0 0%
November 11, 2011 V888183 removed after 181 days
May 25, 2013 V1008675 $1,250,000 $-440,000 -26%
July 10, 2013 V1008675 $1,180,000 $-510,000 -30%
August 15, 2013 V1008675 removed after 82 days
August 19, 2013 V1022821 $1,138,000 $-552,000 -33%
September 28, 2013 V1022821 $1,068,000 $-622,000 -37%

v1022821_1

Current Days on Market: 130 (0.36years)
Current ‘Official’ Days on Market: 44
2012 Assessment: $1,098,000
2011 Assessment: $1,016,000
Desperation Score: 38.0

This large NORTH facing corner home with 270 degree unobstructed view of North Shore Mountains and Inlet Water on all 3 levels, level entry, very sunny with excellent exposure to enjoy mountain and water view. This large & 3 level home is solid and livable with a spacious finished basement that easily converts into an income suite. New kitchen features S/S appliances. Excellent IB program secondary school. RARE FOUND! This is a spectacular rare view estate sized property that you don’t want to miss out. All measurements are approx. Vendor is ready for Your OFFER.


#14 ) Address:8780 MYHILL RD, Garden City, Richmond

June 05, 2008 V713454 $798,000 $0 0%
November 03, 2008 V713454 removed after 151 days
November 09, 2008 V743236 $698,000 $-100,000 -13%
January 31, 2009 V743236 removed after 83 days
March 06, 2011 V873683 $3,788,000 $0 0%
April 26, 2011 V873683 removed after 51 days
October 01, 2011 V913377 $2,898,000 $-890,000 -23%
November 23, 2011 V913377 removed after 53 days
January 23, 2012 V927225 $2,898,000 $-890,000 -23%
March 20, 2012 V927225 $2,698,000 $-1,090,000 -29%
May 29, 2012 V927225 removed after 127 days
June 01, 2012 V953737 $2,388,000 $-1,400,000 -37%
September 01, 2012 V953737 removed after 92 days
September 30, 2012 V974284 $2,388,000 $-1,400,000 -37%
March 01, 2013 V974284 removed after 152 days
July 29, 2013 V1019782 $2,388,000 $-1,400,000 -37%
September 18, 2013 V1019782 removed after 51 days
September 23, 2013 V1028547 $2,388,000 $-1,400,000 -37%

v1028547_1

Current Days on Market: 941 (2.58years)
Current ‘Official’ Days on Market: 9
2012 Assessment: $1,876,000
2011 Assessment: $1,786,000
Desperation Score: 19.1

ABSOLUTELY GORGEOUS NEW MANSION ON POPULAR & CENTRAL MYHILL RD! Beautifully designed featuring 3825 sq ft of luxurious living plus 543 sq ft garage. Features grand foyer with high dome shaped ceiling, recessed lighting, lavished with crown mouldings, wainscoting and intricate detailing throughout the house. Large family room completed with extravagant built-in wall cabinet. Entertainment center features spectacular multi-room surround sound system. Gourmet wok kitchen includes high-end Dacor Industrial cooktop and hood fan, Miele professional coffee maker, double oven and charming walk-in wine cellar. Media room finished with curved screen and high end system. Granite counters, hardwood & marble flooring. FULLY LOADED!


#13 ) Address:5882 EAGLE IS, Eagle Harbour, West Vancouver

August 06, 2011 V903520 $2,400,000 $0 0%
September 26, 2011 V903520 removed after 51 days
January 29, 2012 V928471 $1,998,000 $-402,000 -17%
July 27, 2012 V928471 $1,899,000 $-501,000 -21%
May 06, 2013 V928471 removed after 463 days
May 09, 2013 V1005692 $1,644,000 $-756,000 -32%
July 20, 2013 V1005692 $1,639,000 $-761,000 -32%
September 18, 2013 V1005692 removed after 132 days
September 23, 2013 V1028267 $1,499,000 $-901,000 -38%

v1028267_1

Current Days on Market: 788 (2.16years)
Current ‘Official’ Days on Market: 9
2012 Assessment: $1,724,000
Desperation Score: 28.8

Perhaps the most affordable waterfront investment opportunity ever available in West Vancouver. Welcome to spectacular Eagle Island which offers a world of privacy only minutes from civilization. Fantastic waterfront property offering 102 ft of shoreline. On this amazing property you will find a contemporary 2,018 sq ft 3 bed/2.5 bath home w/spectacular ocean views. In addition the property includes a detached guest house & a massive over 100′ dock w/200′ deep water moorage. This property could be a huge income generator. House is rented out for $2,800/m, docks an estimated $3,000/m & the guest house $800/m. A property with the ability to earn over $6,500 in rental income will likely never again be available in this price range!


#12 ) Address:# 205 33731 MARSHALL RD, Central Abbotsford, Abbotsford

September 26, 2008 F2827925 $216,000 $0 0%
December 31, 2008 F2827925 removed after 96 days
January 06, 2009 F2900069 $208,900 $-7,100 -3%
July 03, 2009 F2900069 removed after 178 days
April 04, 2012 F1208334 $183,900 $-32,100 -15%
August 31, 2012 F1208334 removed after 149 days
September 15, 2012 F1223125 $172,900 $-43,100 -20%
December 05, 2012 F1223125 $166,900 $-49,100 -23%
May 01, 2013 F1223125 removed after 228 days
August 29, 2013 F1319827 $139,900 $-76,100 -35%
September 25, 2013 F1319827 $134,900 $-81,100 -38%

f1319827_1

Current Days on Market: 546 (1.50years)
Current ‘Official’ Days on Market: 34
2012 Assessment: $172,100
Desperation Score: 17.4

The best deal available in STEPHANIE PLACE. 2 Bedrooms, 2 bath & in-suite laundry. Secure 2’nd floor unit. This well maintained building is just minutes from Highway 1, Walmart, Costco, Home Depot & other shopping as well as professional/medical offices and New Abbotsford Hospital. Easy hwy #1 access. Book a viewing today!


#11 ) Address:# DL 8296 LILLOOET LAKE RD, Pemberton, Whistler/Pemberton

April 09, 2012 V942117 $169,000 $0 0%
September 25, 2012 V942117 $149,900 $-19,100 -11%
January 10, 2013 V942117 $144,900 $-24,100 -14%
February 15, 2013 V942117 $129,900 $-39,100 -23%
May 21, 2013 V942117 $109,000 $-60,000 -36%
September 02, 2013 V942117 removed after 511 days
September 30, 2013 V1029683 $104,900 $-64,100 -38%

v1029683_1

Current Days on Market: 541 (1.48years)
Current ‘Official’ Days on Market: 2
2012 Assessment: Unknown
Desperation Score: 18.5

Rare opportunity to purchase a waterfront acreage with rustic cabin situated on Lillooet Lake. Beautiful secluded location, surrounded by mountains and water. The sounds of Joffre creek in the background while you sit outside and enjoy the spectacular scenery. Only 1.5 hours from Vancouver to this property, the log cabin was built in the 1970s and has a large open plan with loft, lots of room for a large family. Crown leasehold property. Some conditions apply. Contact today for more information.


#10 ) Address:11841 GEE ST, East Central, Maple Ridge

December 03, 2010 V860062 $469,800 $0 0%
January 18, 2011 V860062 removed after 46 days
May 21, 2013 V1007039 $333,500 $-136,300 -29%
June 19, 2013 V1007039 $319,900 $-149,900 -32%
July 18, 2013 V1007039 $309,000 $-160,800 -34%
August 15, 2013 V1007039 removed after 86 days
August 24, 2013 V1023434 $299,000 $-170,800 -36%
September 25, 2013 V1023434 $290,000 $-179,800 -38%

v1023434_1

Current Days on Market: 134 (0.37years)
Current ‘Official’ Days on Market: 39
2012 Assessment: $403,000
Desperation Score: 24.1

UNREMEDIATED GROW-OP. Newer kitchen & 3 bathrooms. Has 12×12 deck. Large level lot. Near schools, shopping, recreation, & buses. Measurements are approximate and should be verified by the Buyer if important to them.


#9 ) Address:12096 223RD ST, West Central, Maple Ridge

August 11, 2007 V663095 $289,900 $0 0%
August 25, 2007 V663095 $279,900 $-10,000 -3%
October 19, 2007 V663095 removed after 69 days
July 12, 2012 V961399 $339,000 $0 0%
August 04, 2012 V961399 $309,900 $-29,100 -9%
January 06, 2013 V961399 removed after 178 days
August 27, 2013 V1023927 $219,900 $-119,100 -35%
September 23, 2013 V1023927 $209,000 $-130,000 -38%

v1023927_1

Current Days on Market: 36 (0.10years)
Current ‘Official’ Days on Market: 36
2012 Assessment: $314,200
Desperation Score: 17.7

COURT DATE set for OCT 3, 9:45 am. Great investment/holding property located in a prime area for revitalization. Area to be re-zoned for “Ground Orientated Multifamily Dwellings” as shown in OCP. Development is happening all around this property, now is the time to get in on this great opportunity, given that this home is 1 lot in from the corner makes it instrumental for any future development that would occur on either side. The 2 bedroom, 1 bathroom home needs a lot of work to make it rentable, $100K below tax value. Selling “As Is – Where Is”. Call LS for details on how to make an offer in court, the condition of the home and details of the future potential. Value is in the land.


#8 ) Address:# 204 22277 122ND AV, West Central, Maple Ridge

April 01, 2007 V638625 $199,900 $0 0%
April 17, 2007 V638625 $194,000 $-5,900 -3%
May 04, 2007 V638625 $182,000 $-17,900 -9%
May 30, 2007 V638625 removed after 59 days
June 01, 2007 V650718 $214,900 $0 0%
June 20, 2007 V650718 removed after 19 days
July 23, 2013 V1018840 $139,900 $-75,000 -35%
August 19, 2013 V1018840 $135,900 $-79,000 -37%
September 17, 2013 V1018840 $131,900 $-83,000 -39%

v1018840_1

Current Days on Market: 71 (0.19years)
Current ‘Official’ Days on Market: 71
2012 Assessment: $152,500
Desperation Score: 15.0

and a good sized storage locker! This condo has everything you could want! Do not miss it!


#7 ) Address:# 102 2211 CLEARBROOK RD, Abbotsford West, Abbotsford

April 24, 2009 F2908632 $122,500 $0 0%
July 17, 2009 F2908632 $112,500 $-10,000 -8%
July 20, 2009 F2908632 removed after 87 days
September 06, 2010 F1022914 $124,500 $0 0%
October 01, 2010 F1022914 $118,900 $-5,600 -4%
October 30, 2010 F1022914 $110,000 $-14,500 -12%
December 02, 2010 F1022914 removed after 87 days
December 22, 2010 F1029331 $98,900 $-25,600 -21%
January 21, 2011 F1029331 $89,900 $-34,600 -28%
March 10, 2011 F1029331 removed after 78 days
May 25, 2011 F1113439 $155,000 $0 0%
June 18, 2011 F1113439 $149,800 $-5,200 -3%
June 28, 2011 F1113439 $139,800 $-15,200 -10%
July 13, 2011 F1113439 removed after 49 days
July 26, 2011 F1118962 $134,900 $-20,100 -13%
September 28, 2011 F1118962 removed after 64 days
October 01, 2011 F1124497 $129,900 $-25,100 -16%
January 25, 2012 F1124497 removed after 116 days
February 12, 2013 F1303304 $112,500 $-42,500 -27%
April 03, 2013 F1303304 $105,000 $-50,000 -32%
May 06, 2013 F1303304 removed after 83 days
May 25, 2013 F1312174 $102,000 $-53,000 -34%
June 02, 2013 F1312174 $99,000 $-56,000 -36%
July 10, 2013 F1312174 removed after 46 days
July 13, 2013 F1316572 $98,800 $-56,200 -36%
August 17, 2013 F1316572 $94,800 $-60,200 -39%
September 28, 2013 F1316572 $91,500 $-63,500 -41%

f1316572_1

Current Days on Market: 232 (0.64years)
Current ‘Official’ Days on Market: 81
2012 Assessment: $111,700
Desperation Score: 21.5

RENOVATED 2 BEDROOM CONDO! Your monthly strata fee of $364.43/mth covers everything – heat, light, maintenance, garbage pickup, hot water. No extra bills coming your way. Residents here are 19 or better, may have a cat or two, and you don’t have to worry about rentals. The unit is first floor, but not at ground level – you are up a few steps for privacy and security. Off the large living room with wood burning fireplace is a patio, with access to a massive rooftop deck. The two bedroom home has new carpets, fresh paint, stainless steel kitchen appliances, glass bathroom sink and much more. The complex has an indoor pool, hot tub, sauna, guest suite, and recroom! Live easy, live here. * PREC – Personal Real Estate Corporation


#6 ) Address:# 117 2821 TIMS ST, Abbotsford West, Abbotsford

August 09, 2008 F2823739 $169,900 $0 0%
November 07, 2008 F2823739 removed after 90 days
September 23, 2013 F1321967 $99,900 $-70,000 -41%

f1321967_1

Current Days on Market: 9 (0.02years)
Current ‘Official’ Days on Market: 9
2012 Assessment: $117,100
Desperation Score: 12.5

Parkview Estates. Spacious 3 bedroom above ground private unit. Features include stacking washer and dryer, large bedrooms and bathroom, walk-in closet in master bedroom, maintenance fee includes heat and hotwater, covered balcony with 8′ sliding door facing quiet side. Common room with kitchen, pool table etc, sauna, huge storage area and much more. Close to all amenities. Must be seen.

 


#5 ) Address:29354 DUNCAN AV, Aberdeen, Abbotsford

October 03, 2009 F2922592 $499,000 $0 0%
October 13, 2009 F2922592 removed after 10 days
March 31, 2012 F1208052 $799,900 $0 0%
August 31, 2012 F1208052 removed after 153 days
July 20, 2013 F1317260 $529,000 $-270,900 -34%
August 09, 2013 F1317260 $499,000 $-300,900 -38%
August 24, 2013 F1317260 $479,000 $-320,900 -40%
September 23, 2013 F1317260 $459,900 $-340,000 -43%

_f1317260_1

Current Days on Market: 74 (0.20years)
Current ‘Official’ Days on Market: 74
2012 Assessment: $523,000
Desperation Score: 31.8

2 storey w/ basement home on a 0.5 acre parcel Very quiet setting 4 bedrooms, 4 bathrooms. Large windows provide for loads of natural light. Home is on both city water and sewer. Ample square footage with opportunity and room to grow. Court Ordered Sale. Tax assessment is $523,000!

 


#4 ) Address:12686 232ND ST, East Central, Maple Ridge

August 31, 2011 V907325 $1,200,000 $0 0%
December 01, 2011 V907325 removed after 92 days
March 04, 2012 V935192 $950,000 $-250,000 -21%
June 30, 2012 V935192 removed after 118 days
July 26, 2012 V963809 $950,000 $-250,000 -21%
January 10, 2013 V963809 removed after 168 days
March 14, 2013 V995613 $800,000 $-400,000 -33%
August 01, 2013 V995613 removed after 140 days
September 28, 2013 V1029180 $625,900 $-574,100 -48%

v1029180_1

Current Days on Market: 763 (2.09years)
Current ‘Official’ Days on Market: 4
2012 Assessment: $801,000
Desperation Score: 33.8

SOLD AS IS – WHERE IS. Approximately 4.77 Acres with great potential, close to Yennadon Elementary school & other amenities.


#3 ) Address:# 101W 3061 GLEN DR, North Coquitlam, Coquitlam

July 07, 2007 V656326 $369,900 $0 0%
July 17, 2007 V656326 $355,000 $-14,900 -4%
August 04, 2007 V656326 $330,000 $-39,900 -11%
August 24, 2007 V656326 removed after 48 days
June 06, 2008 V714024 $329,900 $-40,000 -11%
December 01, 2008 V714024 removed after 178 days
December 03, 2008 V745511 $329,900 $-40,000 -11%
September 01, 2009 V745511 removed after 272 days
June 20, 2013 V1013639 $239,000 $-130,900 -35%
September 17, 2013 V1013639 $190,000 $-179,900 -49%

v1013639_1

Current Days on Market: 104 (0.28years)
Current ‘Official’ Days on Market: 104
2012 Assessment: $292,500
Desperation Score: 17.0

AMAZINGLY PRICED TOWNHOUSE! Located just steps to elementary school, transit & shopping. Absolutely fabulous location! Private townhouse located at the back of the complex with your own little patio, 3 bdrm + 2 1/2 baths, fireplace, insuite laundry, private entrance & 2 parking & locker. Laminate floors on the main, newer paint, open kitchen & newer carpet. Future skytrain line will be a short distance away too.


#2 ) Address:9267 188TH ST, Port Kells, North Surrey

December 22, 2011 F1129462 $1,788,000 $0 0%
March 17, 2012 F1129462 removed after 86 days
May 29, 2012 F1213865 $1,399,000 $-389,000 -22%
July 24, 2012 F1213865 $1,150,000 $-638,000 -36%
August 24, 2012 F1213865 $1,089,000 $-699,000 -39%
October 25, 2012 F1213865 $1,069,000 $-719,000 -40%
January 08, 2013 F1213865 removed after 224 days
March 06, 2013 F1305016 $1,064,900 $-723,100 -40%
July 04, 2013 F1305016 removed after 120 days
July 08, 2013 F1316099 $949,000 $-839,000 -47%
August 13, 2013 F1316099 $899,900 $-888,100 -50%
September 25, 2013 F1316099 $889,000 $-899,000 -50%

f1316099_1

Current Days on Market: 650 (1.78years)
Current ‘Official’ Days on Market: 86
2012 Assessment: $1,101,000
2011 Assessment: $1,171,000
Desperation Score: 42.8

Private parklike estate residence. Well manicured landscaping, showing exceptionally well. Excellent holding property for future re-development. Easy school access. This home has excellent curb appeal. Shows reasonably well inside with only modest interior updates required. Wonderful! floor plan, Please allow 24 hours notice to view, and please do not walk onto property without an appointment.


#1 ) Address:3470 ROXTON AV, Burke Mountain, Coquitlam

September 02, 2010 V848178 $299,000 $0 0%
April 01, 2011 V848178 removed after 211 days
March 04, 2012 V935119 $313,000 $0 0%
June 21, 2012 V935119 removed after 109 days
January 12, 2013 V984763 $295,000 $-18,000 -6%
July 13, 2013 V984763 removed after 182 days
September 18, 2013 V1027468 $100,000 $-213,000 -68%

v1027468_1

Current Days on Market: 263 (0.72years)
Current ‘Official’ Days on Market: 14
2012 Assessment: $284,000
Desperation Score: 19.1

66′ x 122′ Lot(8052 sq. ft.) in Burke Mountain area (West Smiling Creek) development area. Limited development potential. West Smiling Creek runs through the property. Lot is within the riparian area of West Smiling Creek.


 

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114 responses to “The Weekly Drop – September 30, 2013

  1. Anymouse October 2, 2013 at 8:38 pm

    #27: “…this property will experience great escalation in value.” If a stockbroker made a statement like that, they would be in jail, but a Real Estate scumbag can get away with it. If it is such a great deal, why is it being sold?

  2. Yellow Helicopter October 2, 2013 at 9:59 pm

    Thanks Observer. I look forward to your posts more than any other blog I follow. The info is always fascinating and it helps me stay rational in an otherwise very irrational housing market. Cheers!

  3. bailinginbc October 2, 2013 at 10:10 pm

    I have updated the Squamish data over at the forum on Vancouver Condo. There is something very fishy in regards to the inventory. The number of listings in total does not even vaguely resemble the sum of all the housing types, SFH+TH+Condos…Etc

    http://vancouverpeak.com/showthread.php?tid=479&pid=5716#pid5716

    • Natalie October 3, 2013 at 1:27 am

      BinB, are you getting your numbers for inventory from MLS site?

      • bailinginbc October 3, 2013 at 7:03 am

        Yes, just keeping track of MLS listings and sales that I am personally aware of. Any ideas as to the differing numbers?

      • Natalie October 3, 2013 at 7:49 am

        I’m not sure…here’s what I got this morning when I searched active listings on our system:
        Residential detached 207
        Attached 159
        Land Only 56
        Multi Family 0
        How does this compare with yours?

      • bailinginbc October 3, 2013 at 10:00 pm

        I’m getting my numbers off Realtor.ca. The area I map is includes Britannia Beach to The Upper Squamish. I currently shows 361 total listings

        166 Houses
        61 Townhouses
        75 Apartments
        22 Duplexes
        17 Mobile homes
        0 Other categories

        166+61+75+22+17=341

        So the question remains, if the total of the categories is 341 why is the total listed at 361?

        I’m just looking at residential. Land only comes up separately. Your residential (attached and detached) comes in at 366, very similar to the over all total that realtor.ca lists, but where are the missing listings from the categories? Most mysterious….

      • silverthrill October 4, 2013 at 9:58 am

        I think the difference comes from when the ‘Building Type’ field is null in the realator.ca database. Here’s an example.

        http://beta.realtor.ca/propertyDetails.aspx?PropertyId=13343458

      • bailinginbc October 4, 2013 at 6:07 pm

        By Joves, I think your right. Lordy would I be pissed off if I had my house listed and it didn’t show up on the mls when people selected “house” instead of “no preference”

        Good grief 6%, of listings in Squamish disappear for the people who are looking specifically for that type of property.

  4. Aman Gupta October 2, 2013 at 11:27 pm

    Kindly let me know how my friends can subscribe to this post Date: Thu, 3 Oct 2013 00:55:35 +0000 To: gupta_aman19@hotmail.com

  5. Natalie October 3, 2013 at 1:40 am

    #17 Greenwood is sold…$380k. Foreclosure that appears to be an unremediated grow op. Hard to finance at best.

  6. Skook October 3, 2013 at 8:08 am

    #24 6054 Egmont Rd

    I have actually been in this home as I knew the owner. He died very quickly after being diagnosed with cancer. One of the executors of the will is a (retired?) Vancouver Realtor who had sold his own property near this one two years or so previously for just over $1 mill (his home had the best spot on North Lake). I saw the very first listing for this property which was in 2011 and the initial list price was $999,900 and then it was dropped to $899,000 – I think you have the re-list data. So, in fact, the price has dropped $400,900 or -40.1% since that very first listing. This property is actually in Egmont and properties there has been slow to move and only do so after significant price reductions.

  7. Natalie October 3, 2013 at 8:33 am

    #5 is kind of interesting. Looks like the large price increase was due to the owners being in some financial trouble and hoping some uneducated buyer would come along and spend way too much money to buy their home. A bit delusional but I guess it was worth a try? In actuality, it appears the owners had a private mortgage which has effectively foreclosed on them and taken control of the sale.

  8. Natalie October 3, 2013 at 8:36 am

    #7 goes to court today…

  9. Vulture Fun October 3, 2013 at 10:47 am

    Is there a typo in #2? There is a difference between the last two prices entered but no change in %.

  10. Real Estate Tsunami October 3, 2013 at 12:56 pm

    What’s going on in Maple Ridge?
    Are people tired of paying toll on 2 bridges?

  11. Skook October 3, 2013 at 4:51 pm

    #27 – Love it when they describe a home as “Executive” but they dare not show any pics of the interior.

    #25 – I included this property in my first Vancouver Peak “Front to Back” Challenge:

    http://vancouverpeak.com/showthread.php?tid=5177

    There are a couple of homes in today’s list that are prime candidates for the next “F-to-B”.

  12. Natalie October 6, 2013 at 11:15 am

    #1 has an asinine assessment that should be challenged. It was purchased in ’03 for $70k. Equally assinine attempt to get over $300k for an 8000 sq ft lot with very limited potential. Likely the owner wants to keep the assessment where it is to try and “prove” this is a great deal. Jmho 🙂

  13. Natalie October 6, 2013 at 11:20 am

    #3 sold for $240,667 in court last week. It was purchased for $225k in ’04.

  14. Natalie October 6, 2013 at 11:23 am

    #10 is un unpremeditated grow op. Price drop reflects the damage rather than the market 🙂 Can not get traditional financing…needs cash buyer or a willing private lender.

  15. an observer October 6, 2013 at 12:51 pm

    Thanks for the info Natalie!

  16. chingon_15 October 7, 2013 at 12:33 pm

    Natalie, have to agree with your thoughts on #1. Curious as to your thoughts on it’s actual value? The neighboring lot was purchased and the guy opted not to buy this with it. Also, what were your thoughts on 8 Kicking Horse which was highlighted in the September 20 posting.

    • Natalie October 9, 2013 at 9:24 am

      Hi Chingon, let me try to get back to you later this week. As it’s not my immediate area I would need some extra research time 🙂

      • chingon_15 October 22, 2013 at 8:10 am

        Hey Natalie,

        Any update?

      • Natalie October 23, 2013 at 7:58 am

        Sorry Chingon…busy with work and I am also in school…final exam time for me 🙂 Kicking Horse seems to be appropriate to well priced compared to the last sale there of a similar home at $1,220,500 and what is currently listed at $1,338,888. It was a “mere posting” for the first four or five months of its listing history (June to Oct 2012). They tried selling bonuses and such to try to entice a sale before listing it full service. Its an owner/builder. Without more details and a trip to city hall, I have a hard time determining actual value(IMO) for the lot. At $100k it still hasn’t sold…curious as to the building scheme registered on title and actual available space to build…fisheries covenants if applicable etc. Very interesting reading the previous comments on the listing. Seems the current foreclosure listing is the only one that mentions the reality of the potential challenges for this lot. Hope that helps some.

      • chingon_15 October 24, 2013 at 8:06 am

        Greatly appreciated Natalie. Good luck with the final exam. I ended up talking to the city, fisheries covenants is in play and set back makes lot unusable. It requires multiple variances which may never been granted. Good information on kicking horse, email chingon_15@hotmail.com

  17. Michael October 8, 2013 at 3:39 pm

    A quick question a bit off topic with regards to the Property Transfer Tax for first time buyers.
    As I understand there is an exemption for 1st time buyers of up to $450,000. If you purchase a home over $450,000 do you not receive the exemption or is the exemption pro-rated to price of the home ?

    Thank-you.

    • Yellow Helicopter October 21, 2013 at 3:05 pm

      Hi Michael,
      If you purchase a home over $450k, you unfortunately do not receive the exemption. It’s not pro-rated, and you have to pay the whole PTT. From what I undersand, if you buy a home for $400 – $449k, you have to pay a partial PTT as a first-time buyer.

  18. Aman October 15, 2013 at 8:17 pm

    Please start a facebook page….I follow it regularly. We are new migrants and your info saved us from throwing our hard earned money in the drain

  19. sharon October 17, 2013 at 11:13 pm

    I like this blog. Please folks keep the conversation coming…

  20. robins October 20, 2013 at 10:18 am

    Interesting
    http://www.courts.gov.bc.ca/jdb-txt/SC/13/18/2013BCSC1877.htm

    The Director of Civil Forfeiture says Ms. Kwok whose annual income is $65k, does not have sufficient income from lawful sources to account for her equity in a penthouse purchased for $539,300 in 2008.
    Yet! She was able to secure a mortgage loan of 440k from the bank.

    • Elme October 23, 2013 at 11:44 pm

      I don’t see a problem for a person earning 65k to pay 100k down and 2-2.5k monthly. The province just wants her property! Shame!

      • robins October 31, 2013 at 4:39 pm

        It’s all drugs and gang stuff. P/P was $500K in 2008, and the S/P months later was $745K.

        “Just a little over a month after Kwok rented the suite to Hoang Nam Lam last winter, officers with the Vancouver Police Department’s organized crime unit conducted a search and discovered 2.03 kilograms of cocaine, 13.2 kilograms of a known cocaine cutting agent, one gram of heroin, two grams of marijuana and $41,825 in cash. Lam is now facing drug charges.

        Kwok put the apartment up for sale at an asking price of $745,000 just 23 days after the raid. Listings for Kwok’s two-bedroom, three-bathroom, 1,267-sq-ft suite can still be viewed online.

        Read more: http://www.vancouversun.com/news/seeks+civil+forfeiture+penthouse+owned+woman+with+suspected+gang+ties/9050822/story.html#ixzz2jLVbmYzG

  21. bailinginbc October 24, 2013 at 9:13 am

    Just talking to my pet realtor in Squamish. It seems that there is a rash of people who bought in the last few years re-listing their properties at below the price that they purchased them for.

  22. Avril October 25, 2013 at 6:51 pm

    No updates since Sept… wondering why……….

    • bullwhip29 November 4, 2013 at 11:37 am

      Probably because there has been nothing to talk about. My sis in law is a senior mortgage underwriter at one of the big 5. She told me since early to mid Sept there has been nothing going on deal wise and most of the staff have their daily duties completed in the first 3-4 hours. We’ll know more in the coming months, but for now there are few buyers and sellers likely for various reasons.

      Just returned from Vegas a week or so ago and would like to say that the gig is likely up over there. I travel there 2-3 times a year and have been doing so for many years. IMHO, what happens on the ground there has proven to be a very accurate and reliable indicator of economic activity. Right now, mid to high end restaurants, night clubs, shops etc are NOT busy whatsoever. Neither were the outlet malls which typically had overflowing parking lots when times were better. Crystals Mall literally had no people in it. Resorts are now overcharging (more like gouging) for everything since crowd levels having been shrinking in recent months and they are doing so in a more and more deceptive fashion. A year or two ago, this bs was overlooked. People were still flying high, feeling good and partying on like they didn’t have a care in the world. So, what has changed? IMHO, it just ain’t any fun blowing money willy-nilly like it used to be (especially if you can’t really afford to). After 5 long years, I think Mr. Consumer is either tapped out for good and/or coming to his/her senses (finally). This Xmas and holiday season will be very interesting. Hmm, what to buy that friend, family member that’s got every flashy, uber chic toy or gadget under the sun already? And how are parents supposed to top that brand new iPad they just got for their 3 yr old last year while staying cool like all the other celeb mom’s and dad’s we see 24/7? Above all else, how can you pull this off by spending less? Well, you can’t. So, something’s surely gotta give here.

  23. cb October 28, 2013 at 11:42 am

    Anyone know who is buying the Executive homes in Anmore? Seems they have been taking a hit in price but with the new devpt lands set to open up alongside in Ioco-what will happen next?

    • chingon_15 October 28, 2013 at 1:25 pm

      Hey cb, what new development lands are you referring to alongside Ioco? Is it the stuff on Foresthill? Or is it on the south side of Ioco?

      • Cb October 28, 2013 at 1:58 pm

        I am referring to the opening up of the refinery lands . I don’t think Forest Hills compares due to its density. Is the demand for the higher priced homes going to be sustained? Do people still want the larger parcels? Lovely homes but a good investment compared to say-West Vancouver where Asian buyers seem interested to buy and hold?

  24. living_in_surrey November 1, 2013 at 9:07 am

    Hi, is there any website which gives information on the properties recently sold in Fraser Valley? I was following around 25 properties on sale in Surrey area and to my surprise all of them were taken off market today. I was wondering whether all of them sold on the same day or just were taken off market to relist with a new number and date 🙂 Thanks.

  25. living_in_surrey November 1, 2013 at 9:10 am

    I mean 5 of them were taken off market (moderator please update my previous post and remove this one, thanks).

  26. anymouse November 2, 2013 at 11:26 am

    6735 Waltham has just sold. Also another new build on Berwick Street just sold as well. Both were on the market for well over half a year. Marketed to Mainland Chinese. Seems to be a bit of action in the Deer Lake area lately.

  27. nancy November 6, 2013 at 11:38 pm

    Has this blog ever featured 3810 Marine Drive, West Vancouver? Interesting history:

    Sold $ 8300000 06-Nov-13
    Active $ 12888000 30-Aug-13
    Active $ 19888000 11-Apr-13
    Expired $ 28888000 08-Apr-13
    Active $ 28888000 06-Mar-13
    Active $ 37900000 01-Feb-13
    Expired $ 37900000 31-Jan-13
    Active $ 37900000 17-Jan-12
    Expired $ 30000000 31-Dec-11
    Active $ 30000000 06-Jun-11
    Terminated $ 30000000 03-Jun-11
    Active $ 30000000 15-Sep-10
    Expired $ 30000000 31-Mar-10
    Active $ 30000000 09-Mar-09
    Expired $ 15950000 23-Apr-07
    Active $ 15950000 27-Oct-06
    Expired $ 13950000 23-Aug-06
    Active $ 13950000 27-Feb-06
    Expired $ 13300000 15-Feb-06
    Active $ 13300000 16-Nov-05
    Expired $ 12800000 31-Oct-05
    Active $ 12800000 31-Mar-05
    Expired $ 9800000 28-Feb-04
    Active $ 9800000 16-Feb-02

    Does this one make it into your vancouver price drop guiness book of records for the longest time a house has been on the market with the largest drop ever?

  28. José November 13, 2013 at 7:51 pm

    Done – for now.

  29. Real Estate Tsunami November 14, 2013 at 10:57 am

    Joseph,
    It ain’t over ’till it’s over.
    The Fat Lady is nowhere to be seen.

  30. Whipmaster November 17, 2013 at 10:36 am

    Hey? I hear but have not confirmed, that 4596 Cedarcrest, N.V. has actually sold.
    Asking $999,000….Sold for $1,015,000 Sept 2013!!!
    Is this true???
    What is going on there?

    • an observer November 17, 2013 at 11:41 am

      Another great one you pointed out – this one originally listed for $1.495 million back in May of 2012 so a $480K drop. You know how to cherry pick gems. For a bull you sure are smart!

  31. Whipmaster November 17, 2013 at 10:48 am

    ….and also 6735 Waltham Ave, BBy asking $1,598,800 supposedly sold in October for $1,493,458.
    Wow… the price came down over $100K. The prices must be crashing as we speak…hahahaha.

    • an observer November 17, 2013 at 11:38 am

      you realize it initially listed for $2.288 million back in February? That’s an $800K drop and considering the lot cost them $870K they took a big loss on this build not even factoring in the interest on the money that was tied up for the last 18 months during and after development which is easily another $100K.

      • Elme November 17, 2013 at 5:13 pm

        The build was 500k at most for its quality, plus 870k for the lot give the overall cost at 1.37 million, therefore, I don’t think it was sold at a loss for 1.49 million.

      • an observer November 17, 2013 at 5:37 pm

        There is absolutely no way you demo the old house, make plans, frame and build a new 4000 square foot home with decent finishings for $500K – I personally thought it was ugly but the finishings weren’t bad.

        They are in to this for $1.5 plus another $100K+ in interest on purchase and building costs over 18 months at the absolute minimum. More likely a $150Kish loss plus another $40K or so on commission – half that if they sell it on their own. Trust me, they got killed.

  32. Whipmaster November 17, 2013 at 4:36 pm

    You realize that a reduction in the “asking price”, does not necessarily mean that “sale prices” are going down. So please continue this display of our “superior analytical ability”, it’s really entertaining. 🙂

    • an observer November 17, 2013 at 5:32 pm

      You were the one quoting asking and selling prices and bringing up example that clearly show how clueless you are. There are tons of examples of sales where owners did very well and you manage to point out 3 that are clearly bearish. Good on you!

      • Yellow Helicopter November 18, 2013 at 6:31 pm

        Whipmaster, you come across as dumb as the doorknobs that are being phased out. Observer, you rock. That’s all.

  33. Real Estate Tsunami November 18, 2013 at 10:10 am

    Epic battle between An Observer and the Bulls.
    An Observer sends the Bulls packing.
    Great Job An Observer.

  34. Real Estate Tsunami November 18, 2013 at 3:25 pm

    They were actually the Bulls Allstar team, but they are missing their best player, Bob Rennie, who has gone AWOL.

  35. Whipmaster November 24, 2013 at 11:18 am

    I represent the second string Bulls D minus team…. that’s all that’s needed here.
    You folks are so intelligent, ….so how come you aren’t rich?

  36. Whipmaster November 25, 2013 at 8:42 pm

    hahaha…. good question huh? Shut y’all up pretty good I would say.
    Yay for the second stringers on the Bulls D minus team. A clear and decisive
    win if I don’t say so myself. Haw! Haw! Haw!

    And where is VREAA?
    She abandoned y’all.

    • an observer November 25, 2013 at 9:43 pm

      You are spam personified, that’s why people don’t respond. You can’t contribute quality so you go for quantity – there are intelligent bulls who can raise debatable arguments but you aren’t one of them. Clearly. But sure, I’ll respond.

      1) many bears are home owners and many bulls who think they are home owners are in fact not, the banks actually own their home. I’m a home owner and I know many other bears are as well. Someone who is bearish on real estate simply believes there is more downside than upside. So why don’t I rent your simplistic mind might ask? Timing a market is very difficult – even if things drop 40% in inflation adjusted terms it is likely you’ll only get 20% of the benefit since you’ll never sell on the peak and buy in the valley. Subtract various fees and annoyances and for me it isn’t worth it to sell and rent then buy back in. For someone not in the market or someone without family or who is nearing retirement then it’s a pretty easy decision to get out of the market if you look at things rationally.

      2) maybe we are rich? I know it is tough to believe but in some places in the world people build wealth in ways other than flipping homes with larger and larger mortgages. I’m serious Whipmaster, there are other ways to make money even in Canada! Many home owners are in so much debt that any sort of downturn will wipe them out. Looks may be deceiving.

      I’ll give you a chance to reply before I ban you – not because you are a bear but because you add no value. Alternatively you can do a 180 and start adding value to the discussion but I’ve seen your posting history so I’m not optimistic!

      • Whipmaster November 29, 2013 at 10:16 pm

        The title of this thread is “Vancouver Price Drops and is suppose to Document Vancouver real estate price movements. Most of the listings presented are in either Surrey, or Whiterock, or Abbotsford, or Maple Ridge, or somewhere other than Vancouver. Also, there will always be properties that stay on the market for way too long and for many reasons not related to the market, but to present these as representative of the market is false.

        Also, I only checked a couple of listings but I pointed out that two of the listings had actually sold, so I updated your misleading information.

        Observer, if you own a house you probably did not buy it on the open market. People who have actually earned to own their own house do not revel so much in another homeowners misery, such as the spectacle that I have witnessed here.
        Go ahead and ban me if it makes you feel better. It would only go to prove what a small minded person that you and the rest of your crew are.

      • an observer November 30, 2013 at 10:00 am

        It warms my heart that you spend your Friday evenings writing long posts on a site where you are not liked, valued or respected. You must have a fulfilling life!

        So let me get this straight… I bought my house on some sort of private market and therefor if prices come down I am not impacted because my super secret listing house is immune to price drops – that’s your theory? WOW!

        And to be clear, based on your posts I know you didn’t truly earn whatever home you lived in – you over leveraged on a mortgage you won’t be able to afford when rates increase and live in a house you won’t be able to sell without foreclosing when prices drop. You’re living the dream!

        Cheers Whipmaster, I’m not going to ban you for the time being, you are much too entertaining.

      • Whipmaster November 30, 2013 at 2:40 pm

        Dear Observer, you did not address the objective criticisms that I pointed out that your entire thread is grossly misleading starting from the title “Vancouver Price Drops”, to the listings presented, and the the fact that I updated your information because some of the properties that I checked were actually “sold”.

        I am the only contributor that has pointed out the folly of your thread. Sorry to pop your bubble.

        So go ahead and ban me if the truth hurts you so much.

  37. Whipmaster November 25, 2013 at 9:05 pm

    You Huffers must get tired of each others anti-real estate flatulence, come visit us here… http://realestatetalks.com/viewtopic.php?f=8&t=128605

    • Skook November 26, 2013 at 8:01 am

      Well, Whipmaster, I just followed your link and after viewing only a page of posts all I can say is, “Wow, I am impressed.” Never have I seen an individual display a better example of “immaturity personified” – you should be embarrassed to have posted that link here. I suggest you come back to VPD when you grow up and, as Observer says, when you have something of value to add to the discussion

    • Seeking knowledge... November 26, 2013 at 1:28 pm

      Is Whippedmaster Rob Ford?

  38. Whipmaster November 26, 2013 at 11:08 pm

    hahaha… I know. you’d rather stay on this blog and revel in each others misery.
    May I ask a question?…….
    How can you people be so stupid?
    If you fawkers are so smart, how come you’re not rich?…..

  39. craig November 27, 2013 at 8:10 am

    it would be great to get an update!!!

  40. VancouverRE November 27, 2013 at 4:19 pm

    When can we look forward to an update of the listings?

  41. craig November 29, 2013 at 11:04 am

    According to the IMF, Canada has the most over valued market in the world. have a look at this article: http://www.imf.org/external/pubs/ft/fandd/2013/12/picture.htm

  42. Kelly December 1, 2013 at 11:35 pm

    Ban whipmaster!!!!!He’s ruined the Ozzie Jurock site and now he wants to ruin yours!!!

    • an observer December 2, 2013 at 12:19 am

      The poor guy, if I ban him what’s he going to do all by himself on his computer on Friday evenings? And he’s getting much smarter suggesting I go back and remove all mention of any homes that may have sold from previous drop lists because if a house sells then somehow the asking price drops magically should disappear. And of course his mantra of “If you fawkers are so smart, how come you’re not rich?”. Think of it as free comedy from our special bull friend.

      • bullwhip29 December 3, 2013 at 10:24 am

        LOL

        Patience, I think you’ll get the last laugh and that’s all that really matters, right?

        FWIW, I think those that are long the markets (and everything else for that matter) are in for a rude awakening in the very near future. In my most recent post from a number of weeks ago (https://vancouverpricedrop.wordpress.com/2013/10/02/the-weekly-drop-september-30-2013/#comment-4313), I warned that things weren’t looking so rosy for the average joe out there. The very disappointing Black Friday/Thanksgiving sales numbers confirm this. I was at Costco yesterday and saw at least a dozen people in line returning items they presumably found for less (as packages were unopened and brand new), which makes me wonder if this practice is more widespread than I originally thought given the unprecedented access to pricing info online and so forth. If so, the already disappointing retail sales data is likely overstated by several % points.

  43. Rob Chipman (@robchipmannet) December 4, 2013 at 3:56 pm

    observer:

    Interesting numbers, but here’s another perspective. With this month’s stats release from REBGV we find that the sales to active listings ratio is something like 17.7%. It’s been as low as 12% this year, but mostly between 15% and 17.7%. That is, within any given month only 15%-17% of active listings sell.

    That produces what the REBGV calls a “balanced” market, meaning, I suppose, that prices are stagnating (and there’s a pretty good argument to be made that Lower Mainland wide, over all property types, that’s exactly what’s happening).

    “Price drop”, the way you’re using it, seems to mean “asking price drop” as opposed to “sales price drop”. I think most readers recognize this, so you’re not being misleading, but let’s take that sales to actives into account and observe that between 83% and 85% of sellers are not realistic in this market, at least according to buyers who are willing to sign on the dotted line and part with their money.

    As a lot of you know, I track stats in the REBGV and FVREB each day, including price changes. There are lots of them these days, and the vast majority are price drops. It’s common to see 90-125 per day over both boards.

    Cherry picking from the worst is informative, to be sure, especially if you operate from faulty assumptions (primarily that most listings sell in a healthy market), but I’m not sure it proves much about which way the market is going.

    Fair comment, or am I missing something?

    • an observer December 4, 2013 at 9:59 pm

      Hi Rob, definitely a fair comment – huge asking price drops happen in good markets as well.

      I’ve made the point a few times in the past that I don’t base my thoughts on the direction of the market based on the weekly drop lists – for the most part it just highlights delusional, greedy sellers who are forced back into reality.

  44. robins December 7, 2013 at 3:00 pm

    “Julia Lau, a leading Vancouver real estate agent, told me this year that 80 per cent of buyers were mainlanders. She saw no downside for long-term locals, who could cash out and retire.”
    http://blogs.vancouversun.com/2013/11/24/in-hong-kong-vancouver-real-estate-is-big-news-for-the-same-reason/

    • Elme December 11, 2013 at 7:02 pm

      People live in Hong Kong are infamous for enthusiastic in speculating in real estate market for decades, now they blame some immigrants from mainland participating in their traditional game?

      When I read “2 million C$ apartments in Richmond”, I almost choke myself.

      How fanatic the author got to be to write such a ridiculous article.

  45. Rob Chipman (@robchipmannet) December 9, 2013 at 12:06 pm

    Here’s one for you. Just off Dunbar. Land value only. $1.6. Assessed at $1.37. That’ll turn into a $2.2-2.4 million new build.

  46. bailinginbc December 9, 2013 at 8:51 pm

    Squamish- purchased in 2011 for $485, straight to foreclosure, listed at $396,900.
    Down 24% in 2 years. http://www.realtor.ca/propertyDetails.aspx?propertyId=13906820&PidKey=-1896726916

    • Elme December 11, 2013 at 6:59 pm

      People live in Hong Kong are infamous for enthusiastic in speculating in real estate market for decades, now they blame some immigrants from mainland participating in their traditional game?

      When I read “2 million C$ apartments in Richmond”, I almost choke myself.

      How fanatic the author got to be to write such a ridiculous article.

  47. Rob Chipman (@robchipmannet) December 10, 2013 at 10:42 am

    Bailing:
    Actually it was purchased in 2008, not 2011. Where are you getting your sales info?

    Interestingly, it was purchased for $191,000 in ’02 before reaching $485,000 in ’08. Also, it was described in ’08 as “immaculate”; today it’s described as needing a bit of TLC and being sold “as is, where is”. Foreclosures aren’t always good market indicators, especially in a slow market with lots of supply. There’s always some sort of drama behind the story, and it often impacts the property (as in this case, from immaculate to needs TLC).

  48. bailinginbc December 10, 2013 at 11:56 pm

    This information was sent to me from my realtor. I haven’t seen it in the system myself so I guess the info my realtor sends me is unreliable. Good to know for the future. I should have checked it on my own spread sheet. I keep sales data from BC Assessment for the area because otherwise I have to rely on what I am told – by my realtor, who has their own agenda. Unfortunately my data does not go back to 2008 but you are right there was no sale in 2011.

    Aaaah 2008, the heady days when you just couldn’t lose in Squamish by buying real estate. These people probably bought in the spring. By summer the tap had turned off. I almost bought myself that spring but the seller wouldn’t take my full offer subject to sale. They approached me in the summer, willing to accept the offer but it was too late the tide had turned. Then the Lehman brothers hit and that was all she wrote. They ended up selling for $70 less than I offered. Guess I dodged a bullet.

    I will find out what the background story is with these people (know neighbors on both sides.) My gut is that they are underwater and that there is no way of selling it for what they owe. Not sure if this necessarily needs to be a “drama”. To keep a property “immaculate” requires a very fastidious owner (who is prepared to spend some cash). Five years of ownership from people who have less money, time or inclination could easily take a house from “immaculate” to “with a little TLC, this can easily be your dream home!”

    The price looks right to me for the house and the area if the bank wants to get it sold. When I compare the above foreclosure to this foreclosure-
    http://www.realtor.ca/propertyDetails.aspx?propertyId=13273477&PidKey=-1581164513
    (A superior house in a neighborhood that demands a better price) the price seems right if not a little high. The second foreclosure I know for a fact is not a “drama”, unless by drama you mean that they can’t afford to keep it and they can’t sell it for what they owe. No grow ops, no nasty divorce, no children fighting over grandmas estate, just bought for $472k and languishing at $408k.

    If you NEED to sell in Squamish you are in big trouble and that’s all the drama you can handle.

  49. Rob Chipman (@robchipmannet) December 11, 2013 at 11:21 am

    Bailing:

    I’ve sold many properties to investors over the years, based on a fundamentals based approach. I know you’re joking about the heady days of ’08 when nobody could lose, but if you were on my blog in those days you’d know that a) anyone paying attention knew you could lose and b) lots of people in the blogosphere knew that a crash was coming in the US years before it happened and were aware of the risks we faced here.

    The price is wrong. It might be right for current market conditions, but it is wrong from a fundamental point of view. 40% down still requires a mortgage of about $240k. That’s $1250/month at 3.9%, just for the mortgage. You’d buy that and end up feeding it. I’m not hating on Squampton, but why buy an inferior property well outside the city in order to feed it in an historically low interest rate environment with poor prospects for further price growth? We’re probably looking at low rates for at least 5 years, but they can’t go lower, so at re-mortgage time chances are that the costs will increase. We haven’t even counted taxes, maintenance, management, transaction costs. Would/could you rent that place for $1500+? (That’s just barely break even, with little or no capital appreciation).

    Your version of drama and mine are different, clearly, but as far as I’m concerned foreclosures are dramatic, period. They aren’t sold the same way as regular properties, and the differences are significant and impact on price and potential market.

    I’d also venture to say that on a different post you’d be perhaps a little less generous with the phrase “with a little TLC….” I’m a realtor, and when I see that phrase I still see that picture of the fixer upper – a beat up trailer with boards over the window, stuck up in a tree 🙂

  50. bailinginbc December 11, 2013 at 10:38 pm

    Rob we are in complete agreement with regards to fundamental value. I wouldn’t buy either of those properties for anything close to what they are asking. That’s not a Squamish thing that’s pretty much anywhere as far as I can see. That’s why I sold my investment property in June 2008 and my PR in 2010 and now rent.

    We may also be on the same page as far as drama is concerned. if by “drama behind the story” you mean that it’s a foreclosure then we are absolutely on the same page. Not sure how it’s behind the story though, as it seems front and centre to me.

    -Correction to my above post “$70” should read “$70K”

  51. Rob Chipman (@robchipmannet) December 20, 2013 at 2:18 pm

    This isn’t related to price drops, but is related to the local market. I’ve started adding anecdotes about new inventory being added to the market, like Empire at QE Park. I think there are a lot of implications that are perhaps not being discussed as much as they should, and not just implications for price. The post, for any who are interested, is here: http://www.robchipman.net/2013/12/20/new-real-estate-inventory-empire-at-qe-park/

  52. bailinginbc December 20, 2013 at 9:43 pm

    Rob, all the links listed under the average sales price by area seem to link to the same page which gives info on east Burnaby.

  53. Rob Chipman (@robchipmannet) December 23, 2013 at 1:31 pm

    Hah!East Burnaby is the code template! I’ll try to fix that all up and report back. Thanks for the heads up.

  54. Yellow Helicopter December 30, 2013 at 12:41 pm

    Merry Christmas Observer! Hope to see you back in the New Year.

  55. bullwhip29 January 2, 2014 at 9:33 am

    FYI, updated BC Assessment data now available for all to view. The values don’t seem to jive with what is/was being reported in the media (ie. sideways to slightly higher prices). For example, assessed values for Richmond westside addresses have dropped by more than 10%, which confirms what many of us have been stating for many months now. While many (incl myself) do not place a high degree of importance on these numbers, I believe the magnitude of these drops will undoubtedly have a sobering effect on the masses of Gr Vanc homeowners once they read it in black and white. Having said this, I’m sure the MSM will try to split hairs here and claim these valuations were done at the most recent market “low” and that prices have rebounded smartly since the summer.

  56. José January 3, 2014 at 8:37 am

    Hey an observer,

    You may want to come out of hibernation early. The BC assessments show many houses and condos, in West Vancouver, down from last year 15-17%

  57. José January 3, 2014 at 3:27 pm

    Just a few examples:
    5709 Bluebell Dr, West Vancouver, (house) down 15.06% yoy.

    Apt 300 – 568 Waters Edge Cres, West Vancouver, (condo) down 17% yoy.

    And these are not unusual properties. Their neighbors in the area are all down similar amounts.

  58. mike January 3, 2014 at 4:26 pm

    what happened to this site, observer should give an update or something

  59. Raj January 4, 2014 at 1:59 pm

    What happened to this site? Observer, please let us know if we should stop coming here.

  60. Kelly January 4, 2014 at 6:12 pm

    Check out today’s Sun! The article states house sold in two days on 16 Ave in S. Surrey.This house has been for sale for ages (just another unbiased report yeah!!!!!!!!!!!)

  61. Real Estate Tsunami January 4, 2014 at 7:21 pm

    100th!
    Just kidding.
    11620 Railway in Richmond been on the market for over a year dropped the price by over 300k,
    Still over 500k over assessment.
    The Chinese investors are still holding out, but eventually they’ll have to cave.

  62. Ricky January 7, 2014 at 3:30 pm

    When is something new coming on this interesting blog??????

  63. Seeking knowledge... January 20, 2014 at 1:18 pm

    Comments have been sitting at 100 for the longest time, so here is 101.
    I wish Observer will come back soon.

  64. jose January 20, 2014 at 9:53 pm

    does bc assessment site give you information on how much the owner has on his mortgage? I had read somewhere where you payed an annual fee and you could access what the assessment was and how much the mortgage was ?

    • an observer January 27, 2014 at 1:53 pm

      No it doesn’t and I don’t believe there is an annual fee to access this information however I believe there is a per property access fee of something like $15 on some site – I’m basing this off of memory from a comment someone made a while back so not sure if it is 100% accurate

      • Natalie February 17, 2014 at 7:05 pm

        The only site I know of to get any kind of mortgage info on a property would be BC Online. This is a paid site that requires you to have an account. I generally use it for searching titles and document inquiries (such as the details of a restrictive covenant). In some cases I can pull the mortgage info, depending on how it was filed. I can sometimes see the original mortgage amount, monthly payments and terms. More often than not, I can’t. Additionally, there may be more financial encumbrances filed under a given mortgage that are also attached to the equity in the home. The balance of what is owing is private information that to the best of my knowledge, is not available by paid or non-paid avenues. As a Realtor, I have to get a signed authorization from the seller to request the bank to provide me with a payout statement so I can be sure my seller can clear title when I list a property.

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