Vancouver Price Drop

Documenting Vancouver real estate price movements

Weekly Drop Suberbs – February 5, 2014

Here are the 10 properties outside of Metro Vancouver (Vancouver West, Vancouver East, Burnaby, Richmond, North Vancouver and West Vancouver) that changed their price or were relisted under a new MLS number the previous 1 week AND have dropped the largest percentage overall from their original asking price.

3 in Maple Ridge and 2 in Anmore including a > 50% drop that has now been listed for over 6 years.  Unlike the Metro Vancouver price drop listings which are for the most part made up of delusional moron’s who are slowly coming down to reality, the suberb list is made up of foreclosures and serious financial losses


#10 ) Address:# 205 12769 72ND AV, West Newton, Surrey

October 05, 2007 F2725478 $189,500 $0 0%
February 28, 2008 F2725478 removed after 146 days
April 20, 2008 F2810627 $199,000 $0 0%
August 01, 2008 F2810627 removed after 103 days
January 21, 2010 F1001531 $209,000 $0 0%
February 10, 2010 F1001531 $199,000 $-10,000 -5%
August 01, 2010 F1001531 removed after 192 days
August 26, 2010 F1022209 $187,900 $-21,100 -10%
February 18, 2011 F1022209 removed after 176 days
March 23, 2011 F1107612 $185,900 $-23,100 -11%
August 01, 2011 F1107612 removed after 131 days
November 11, 2011 F1127631 $178,888 $-30,112 -14%
June 30, 2012 F1127631 removed after 232 days
February 03, 2014 F1402533 $129,900 $-79,100 -38%

f1402533_1

Current Days on Market: 3 (0.01years)
Current ‘Official’ Days on Market: 3
2013 Assessment: $137,000
2011 Assessment: $152,800
Desperation Score: 10.3

Ideally situated in the complex. Spacious 1 bedroom plus a DEN, perfect for a home office or childs room. Huge private sundeck overlooking east. Living room has laminate floor with a cozy gas fireplace. Central location within walking distance to parks, schools, and more!

Relisted by taking $50K and almost 30% off the previous price – either reality hit in (look at assessment) or possibly a foreclosure


#9 ) Address:# 109 1969 WESTMINSTER AV, Glenwood, Port Coquitlam

August 17, 2008 V728774 $353,800 $0 0%
August 25, 2008 V728774 removed after 8 days
January 04, 2014 V1039743 $249,900 $-103,900 -29%
January 19, 2014 V1039743 $234,900 $-118,900 -34%
February 04, 2014 V1039743 $218,900 $-134,900 -38%

v1039743_1

Current Days on Market: 33 (0.09years)
Current ‘Official’ Days on Market: 33
2013 Assessment: $272,000
Desperation Score: 20.5

Amazing price on this spacious 2 bedroom + flex space, 2 bathroom home.Boasting stainless steal appliances, granite countertops, undermount sink,laminate flooring throughout, insuite laundry.Underground parking & storage locker.Close to theWalmart at Freemont Village, Costco,Save on Foods. 3 Blocks from the West Coast Express. In the heart of Port Coquitlam this home has it all!! Sold “AS IS WHERE IS”

“Sold “AS IS WHERE IS”” and down almost 40% over 6 years…  Now listed 20% below assessment


#8 ) Address:# 411 11595 FRASER ST, East Central, Maple Ridge

November 10, 2006 V620565 $219,900 $0 0%
August 10, 2007 V620565 removed after 273 days
October 31, 2007 V675904 $235,000 $0 0%
February 15, 2008 V675904 removed after 107 days
January 07, 2012 V923794 $244,900 $0 0%
March 08, 2012 V923794 removed after 61 days
November 29, 2013 V1037506 $169,000 $-75,900 -31%
December 17, 2013 V1037506 $159,000 $-85,900 -35%
January 16, 2014 V1037506 $156,900 $-88,000 -36%
January 31, 2014 V1037506 $149,000 $-95,900 -39%

v1037506_1

Current Days on Market: 69 (0.19years)
Current ‘Official’ Days on Market: 69
2013 Assessment: $197,100
Desperation Score: 18.5

BIG, BRIGHT top floor corner suite with vaulted ceilings and skylights close to all amenities. 2 bedrooms and 2 full bathrooms, in-suite laundry, gas fireplace and baseboard heating. A little updating will go a long way to make this a very comfortable home. You won’t even need a car as you are centrally located and close to shopping and public transit. Best of all, commuters can walk to the West Coast Express for an easy ride to downtown Vancouver.

Listed 25% below assessment and 3 price drops in a month and a half


#7 ) Address:# 233 5660 201A ST, Langley City, Langley

October 23, 2009 F2924151 $239,900 $0 0%
December 10, 2009 F2924151 $249,900 $0 0%
March 16, 2010 F2924151 removed after 144 days
April 30, 2010 F1012014 $249,800 $-100 0%
June 16, 2011 F1012014 $239,800 $-10,100 -4%
February 24, 2012 F1012014 $226,000 $-23,900 -10%
April 03, 2012 F1012014 $217,900 $-32,000 -13%
May 04, 2012 F1012014 $209,900 $-40,000 -16%
July 08, 2012 F1012014 $204,900 $-45,000 -18%
July 25, 2012 F1012014 $201,900 $-48,000 -19%
December 28, 2012 F1012014 removed after 973 days
September 20, 2013 F1321786 $185,000 $-64,900 -26%
October 09, 2013 F1321786 $177,500 $-72,400 -29%
November 29, 2013 F1321786 $170,000 $-79,900 -32%
January 31, 2014 F1321786 $147,000 $-102,900 -41%

f1321786_1

Current Days on Market: 139 (0.38years)
Current ‘Official’ Days on Market: 139
2013 Assessment: $196,900
Desperation Score: 17.7

Paddington Station! Your affordable dream home in the heart of Langley. Beautiful 2 bedrooms unit with open floor plan, functional kitchen with stainless steel appliances & granite countertops. Air conditioned master bedroom plus one more good sized bedroom. Your central and convenient location for shopping, transit & restaurants.

Listed 25% below assessment.  They had it listed for 3 years then took it off the market for 9 months and now they seem to be in must sell mode


#6 ) Address:180 WOLLNY CT, Anmore, Port Moody

August 22, 2010 V846965 $3,300,000 $0 0%
December 31, 2010 V846965 removed after 131 days
September 27, 2012 V973675 $2,800,000 $-500,000 -15%
April 16, 2013 V973675 removed after 201 days
April 25, 2013 V1003232 $2,300,000 $-1,000,000 -30%
June 13, 2013 V1003232 $2,100,000 $-1,200,000 -36%
July 12, 2013 V1003232 $2,025,000 $-1,275,000 -39%
July 27, 2013 V1003232 $1,999,000 $-1,301,000 -39%
October 04, 2013 V1003232 removed after 162 days
November 11, 2013 V1035435 $1,988,888 $-1,311,112 -40%
December 13, 2013 V1035435 $1,968,000 $-1,332,000 -40%
January 16, 2014 V1035435 $1,953,000 $-1,347,000 -41%
February 05, 2014 V1035435 $1,933,000 $-1,367,000 -41%

v1035435_1

Current Days on Market: 497 (1.36years)
Current ‘Official’ Days on Market: 87
2013 Assessment: $2,241,000
Desperation Score: 42.2

Cul-de-sac Location for this Majestic luxury home sitting on the hill with 1.48 acres in Anmore. Backs onto greenbelt for ultimate privacy in the back yard. Super views of the mountains as well. Grand central Walnut staircase, hemlock wood casing windows, marble floor entry, hardwood flooring, coffered ceilings. Gourmet kitchen with stone countertops and island and wok kitchen. Master bedroom on the main with full 5 ensuite and a His & Hers Closet. Basement has a large 1 bedroom suite complete with 2 bathrooms and a separate entry. Huge rec room down for those to love to entertain or need a place to hide the kids. Extensive decks, covered patio and a forest outlook. Too many other quality features to mention. A MUST SEE ……….

I’ll post my thoughts on Anmore below at the #1 listing


#5 ) Address:26747 FRASER HY, Aldergrove, Langley

February 14, 2007 F2703261 $599,000 $0 0%
July 24, 2007 F2703261 removed after 160 days
July 27, 2007 F2719605 $499,000 $-100,000 -17%
September 07, 2007 F2719605 $479,900 $-119,100 -20%
October 28, 2007 F2719605 removed after 93 days
October 11, 2008 F2829446 $650,000 $0 0%
October 24, 2008 F2829446 $478,000 $-172,000 -26%
March 11, 2009 F2829446 removed after 151 days
October 22, 2011 F1126192 $549,000 $-101,000 -16%
January 11, 2012 F1126192 removed after 81 days
January 17, 2013 F1301054 $499,000 $-151,000 -23%
March 20, 2013 F1301054 removed after 62 days
July 23, 2013 F1317346 $499,000 $-151,000 -23%
September 20, 2013 F1317346 removed after 59 days
October 02, 2013 F1322177 $450,000 $-200,000 -31%
November 07, 2013 F1322177 $399,900 $-250,100 -38%
January 19, 2014 F1322177 $375,000 $-275,000 -42%
January 23, 2014 F1322177 removed after 113 days
January 31, 2014 F1402069 $375,000 $-275,000 -42%

f1402069_1

Current Days on Market: 385 (1.05years)
Current ‘Official’ Days on Market: 6
2013 Assessment: $361,000
Desperation Score: 29.9

RARE almost 1/2 Acre Prime Building lot FOR SALE in the heart of downtown Aldergrove. Located minutes from border crossing, easy access to Highway 1 and short distance to shopping at New Highstreet Mall. Excellent opportunity for your family to build their dream home and have enough room for the in-laws, workshop or RV parking. Zoned for duplex as well. Property surrounded by mature trees, fully serviced and has lots of privacy. Size of land is 101ft x 190 ft. All levels of schools located nearby. Opportunity awaits. *PLEASE NOTE* Land Value Only** Currently there is an old house on property damaged by fire in Summer 2013) Best access off lane or 268th.


#4 ) Address:# 4 11869 223RD ST, West Central, Maple Ridge

January 12, 2008 V682882 $285,000 $0 0%
February 13, 2008 V682882 $274,900 $-10,100 -4%
June 18, 2008 V682882 removed after 158 days
November 02, 2012 V978821 $214,200 $-70,800 -25%
December 18, 2012 V978821 $202,400 $-82,600 -29%
January 29, 2013 V978821 $194,100 $-90,900 -32%
June 19, 2013 V978821 removed after 229 days
December 13, 2013 V1038674 $157,500 $-127,500 -45%
January 31, 2014 V1038674 $148,900 $-136,100 -48%

v1038674_1

Current Days on Market: 461 (1.26years)
Current ‘Official’ Days on Market: 55
2013 Assessment: $222,000
Desperation Score: 18.2

Central Location in Maple Ridge – over 1,200 sq ft of living space with 2 bedrooms, 2 bathrooms. All this self managed Townhouse needs is your TLC. First home buyers – great opportunity. Call today for your showing!

“All this self managed Townhouse needs is your TLC. First home buyers – great opportunity” – down almost 50% and I can only imagine what the interior looks like – they don’t even bother with pictures


#3 ) Address:9022 184TH ST, Port Kells, North Surrey

September 29, 2011 F1124342 $3,750,000 $0 0%
March 28, 2012 F1124342 removed after 181 days
February 01, 2013 F1302239 $2,780,000 $-970,000 -26%
May 02, 2013 F1302239 $2,598,000 $-1,152,000 -31%
June 13, 2013 F1302239 removed after 132 days
August 05, 2013 F1318317 $1,995,000 $-1,755,000 -47%
December 28, 2013 F1318317 removed after 145 days
February 03, 2014 F1402408 $1,900,000 $-1,850,000 -49%

f1402408_1

Current Days on Market: 370 (1.01years)
Current ‘Official’ Days on Market: 3
2013 Assessment: $1,903,300
2011 Assessment: $1,579,700
Desperation Score: 36.6

ATTENTION INVESTORS! 5 Acres plus house in NCP, priced under current assessment to move. Development designation calls for 6-10 townhouses per acre cluster residential. Get in now, let your investment grow. 2600sq.ft house is tenanted, newer septic and deep well. Be quick, priced under area offerings of much smaller size.

“Be quick, priced under area offerings of much smaller size.” which are also not selling


#2 ) Address:12142 287TH ST, Northeast, Maple Ridge

July 10, 2010 V840966 $1,599,000 $0 0%
November 10, 2010 V840966 $1,095,000 $-504,000 -32%
February 01, 2011 V840966 removed after 206 days
February 03, 2011 V866939 $975,000 $-624,000 -39%
March 23, 2011 V866939 removed after 48 days
May 14, 2012 V950147 $1,349,900 $-249,100 -16%
July 06, 2012 V950147 $1,299,900 $-299,100 -19%
September 19, 2012 V950147 $1,199,900 $-399,100 -25%
October 15, 2012 V950147 removed after 154 days
October 17, 2012 V976812 $969,500 $-629,500 -39%
January 07, 2013 V976812 removed after 82 days
March 07, 2013 V994284 $875,000 $-724,000 -45%
July 12, 2013 V994284 $845,000 $-754,000 -47%
September 05, 2013 V994284 removed after 182 days
September 09, 2013 V1025913 $845,000 $-754,000 -47%
October 02, 2013 V1025913 $819,800 $-779,200 -49%
December 28, 2013 V1025913 removed after 110 days
February 05, 2014 V1045468 $798,800 $-800,200 -50%

No Picture

Current Days on Market: 633 (1.73years)
Current ‘Official’ Days on Market: 1
2013 Assessment: $1,011,000
Desperation Score: 37.1

OPPORTUNITY! 6300 sq ft home on 5.004 Ac with gated entrance & winding driveway to private setting. Has 4 bedrooms (all with ensuite) 6 bathrooms in total (his & hers ensuites in master suite), 3 bay garage & attached workshop, large covered deck. Open plan with huge kitchen (granite countertops), Hot water radiant heat & air exchange system. Measurements are approximate and should be verified by the Buyers if important to them.


#1 ) Address:225 ALPINE DR, Anmore, Port Moody

December 07, 2007 V680460 $3,998,000 $0 0%
December 11, 2007 V680460 $3,500,000 $-498,000 -12%
June 10, 2008 V680460 $2,900,000 $-1,098,000 -27%
January 13, 2009 V680460 removed after 403 days
January 17, 2009 V748792 $2,800,000 $-1,198,000 -30%
June 03, 2009 V748792 removed after 137 days
June 05, 2009 V770143 $2,800,000 $-1,198,000 -30%
January 03, 2010 V770143 removed after 212 days
January 08, 2010 V802723 $2,800,000 $-1,198,000 -30%
January 01, 2011 V802723 removed after 358 days
January 12, 2011 V862941 $2,700,000 $-1,298,000 -32%
June 08, 2011 V862941 removed after 147 days
June 12, 2011 V894069 $2,450,000 $-1,548,000 -39%
December 09, 2011 V894069 removed after 180 days
December 14, 2011 V922304 $2,450,000 $-1,548,000 -39%
March 06, 2012 V922304 $2,248,000 $-1,750,000 -44%
December 11, 2012 V922304 removed after 363 days
January 17, 2013 V985529 $2,100,000 $-1,898,000 -47%
August 15, 2013 V985529 removed after 210 days
September 07, 2013 V1025632 $1,990,000 $-2,008,000 -50%
January 31, 2014 V1025632 $1,890,000 $-2,108,000 -53%

v1025632_1

Current Days on Market: 2253 (6.17years)
Current ‘Official’ Days on Market: 152
2013 Assessment: $1,870,000
2011 Assessment: $2,235,000
Desperation Score: 19.9

Elegance, Luxury & Class best describes this 8800 SF 1 AC estate home, exuding Pride of Ownership and nestled on a greenbelt. The grand entrance starts your tour with the lib/off, formal Lvg. Rm & dng Rm gracing one wing & floor to ceiling windows connecting the main floor master, designer kitchen (plus wok kit), great rm & back garden access. Perfect for Pool, Sports court, summer kitchen & Entertaining. 4 bds up- all w/balconies & ensuites & the luxurious 2nd master ste with 7 piece enste, sitting area & private deck overlooking “Nature’s Paradise”. Downstrs is home to “Theatre Rm”, wine cellar, guest bed & great Rec & bar facilities. Very east to suite. Need a carriage home, Rv Pkg, wkshp??? Space Galore- Absolutely Special!!

A 53% price drop…  The assessment has also dropped $400K in just 2 years.  It’s probably reasonable priced now unless there is some other factor here – I highly doubt you could build this house for $1,890,000 right now.  The thing with Anmore is that there are a lot of incredibly beautiful homes with breathtaking views at very low prices – many lower than build price I would suspect.  The main issue in my opinion is that it takes 15 minutes to go to a convenience store (and the people of Anmore want it this way) and it is way too far away from everything.  Maybe when the Ioco lands get developed there will be some benefit to Anmore but until then I don’t see any good news for the people trying to sell their homes there.  This home in particular was grossly overpriced but at this point it is probably way underpriced.


 

19 responses to “Weekly Drop Suberbs – February 5, 2014

  1. Ray February 5, 2014 at 2:03 pm

    Eventually we’ll get to 10 out of 10 below assessment. For now, we’ll have to live with 8 out of 10. Another one of my favourites (#10), where the owner chases their falling assessment all the way down.

  2. Real Estate Tsunami February 5, 2014 at 3:25 pm

    Anmore, Westwood plateau are a steal compared to what you can get in “scenic” Richmond.

    • Elme February 7, 2014 at 10:34 am

      It’s so obvious that convenient beats scenic for location nowadays.

      • Exurban February 9, 2014 at 2:24 am

        Yes, it does. One more thing and I say this as a Tri-Cities resident, the weather here sucks relative to the west side of the LM. It’s rainy and dark and anything at elevation gets at least a few snow days a year. Ditchmond may not be scenic but it gets much more sun than the rainbelt that includes North Van, Westwood, Anmore and lots more.

  3. CBM February 5, 2014 at 4:38 pm

    Would love to see a North Vancouver highlight if you are able to!!! Very interested in all the listings that have been trying to sell for the past 3-4 years …

  4. Aman Gupta February 5, 2014 at 6:54 pm

    It had to happen…rising food prices…no jobs for new migrants…no affordability…its like food chain…no producers…and very few primary consumers

  5. Alexcanuck February 5, 2014 at 8:59 pm

    My assessment:
    10: No pictures.
    9: Empty.
    8: Empty.
    7: Empty. Note stickers/tags on appliances. It’s been sitting empty for 6 years!
    6: Professionally staged, likely empty.
    5: No pictures.
    4: No pictures.
    3: No inside pictures, unkempt, no regular driveway traffic, assumed empty.
    2: No pictures.
    1: Professionally staged, likely empty.

  6. bailinginbc February 6, 2014 at 8:51 am

    Your so right about the suburbs An Observer. This is were it gets real.

  7. Snake February 7, 2014 at 2:03 am

    Relisted by taking $50K and almost 30% off the previous price – either reality hit in (look at assessment) or possibly a foreclosure – (#10)
    —————————-
    it is a foreclosure
    http://www.homeforeclosuresbc.com/SurreyForeclosures.ubr/Details/5393/205-12769-72nd-ave-surrey-british-columbia#viewdetail

  8. Snake February 7, 2014 at 2:32 am

    # 9 (1969 WESTMINSTER AV, Glenwood, Port Coquitlam)

    Half of 23 suite in that building is in foreclosure
    http://bccondos.net/the-saphire

  9. Snake February 9, 2014 at 11:59 am

    Anybody know what’s going with these houses in Richmond looks like lots of foreclose on this street ?

    3411 SCRATCHLEY CR
    3431 SCRATCHLEY CR
    3451 SCRATCHLEY CR
    3471 SCRATCHLEY CR
    3491 SCRATCHLEY CR
    http://www.foreclosurego.com/RichmondHouseForeclosuresListings.ubr

    How do i send a info to you guys, if i think a property worth mentioning on pricedrop ?

    • Natalie February 17, 2014 at 7:16 pm

      Hi Snake, my info shows a court date for all of them February 27th. Is there something more specific you are asking for?

  10. Confusions February 9, 2014 at 4:22 pm

    Outdoor pictures and some indoor on no.1 don’t look real. This might be another one of the phantom houses. Not yet built.

    • an observer February 9, 2014 at 4:31 pm

      It’s definitely real – I actually remember this when it was near $4 million and it had won some Georgie Awards. Aggressive use of photoshop sharpening filters is probably what makes it look a little unreal

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