Vancouver Price Drop

Documenting Vancouver real estate price movements

Weekly Drop Suberbs – February 12, 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 of the top 10 from White Rock


#10 ) Address:# 130 14500 MORRIS VALLEY RD, Lake Erock, Mission

August 23, 2008 F2824918 $134,900 $0 0%
October 01, 2009 F2824918 removed after 404 days
January 08, 2010 F1000440 $134,900 $0 0%
April 26, 2010 F1000440 $127,500 $-7,400 -5%
May 20, 2010 F1000440 $120,000 $-14,900 -11%
July 10, 2010 F1000440 $115,000 $-19,900 -15%
August 12, 2010 F1000440 $110,000 $-24,900 -18%
January 02, 2011 F1000440 removed after 359 days
January 07, 2011 F1100172 $109,900 $-25,000 -19%
January 01, 2012 F1100172 removed after 359 days
January 28, 2012 F1202386 $102,500 $-32,400 -24%
January 01, 2013 F1202386 removed after 339 days
January 05, 2013 F1300120 $89,900 $-45,000 -33%
December 28, 2013 F1300120 removed after 357 days
February 08, 2014 F1402832 $85,900 $-49,000 -36%

f1402832_1

Current Days on Market: 2000 (5.48years)
Current ‘Official’ Days on Market: 5
2013 Assessment: $86,200
Desperation Score: 7.7

It took 5 and a half years to list it below assessment but now they have finally done it.  Will it be enough?

Opportunity knocks on this blowout price! Full serviced lot in prestigious Eagle Point subdivision offering you a fantastic view of the surrounding mountains & the Harrison River. This subdivision is next door to the beautiful Sandpiper Golf Course, with all forms of recreation right at your doorstep. Golfing, fishing, hiking, boating & skiing at Hemlock Valley Resort are within minutes of this fabulous location. Plenty of RV parking available as well. Call to view, as this setting affords you the lifestyle you deserve!!! Check out video of this beautiful setting on agents website. * PREC – Personal Real Estate Corporation


#9 ) Address:# 110 27358 32ND AV, Aldergrove, Langley

November 19, 2011 F1128075 $219,900 $0 0%
January 24, 2012 F1128075 $214,900 $-5,000 -2%
February 25, 2012 F1128075 $209,900 $-10,000 -5%
March 16, 2012 F1128075 removed after 118 days
March 22, 2012 F1207153 $197,900 $-22,000 -10%
June 04, 2012 F1207153 removed after 74 days
June 13, 2012 F1215367 $188,800 $-31,100 -14%
September 29, 2012 F1215367 $184,800 $-35,100 -16%
December 14, 2012 F1215367 $172,800 $-47,100 -21%
December 27, 2012 F1215367 removed after 197 days
October 17, 2013 F1323737 $159,900 $-60,000 -27%
December 05, 2013 F1323737 $152,900 $-67,000 -30%
December 19, 2013 F1323737 $146,900 $-73,000 -33%
December 28, 2013 F1323737 removed after 72 days
January 17, 2014 F1401056 $143,900 $-76,000 -35%
February 10, 2014 F1401056 $139,900 $-80,000 -36%

f1401056_1

Current Days on Market: 119 (0.33years)
Current ‘Official’ Days on Market: 27
2013 Assessment: $166,900
Desperation Score: 19.3

Court Ordered Sale – Ground level, 3 bedroom apartment located in the heart of Aldergrove. Walking distance to shopping, all amenities and schools. Needs some tender loving care.

Court Ordered Sale that needs some TLC


#8 ) Address:2182 CLEARBROOK RD, Abbotsford West, Abbotsford

August 16, 2008 F2824343 $553,000 $0 0%
January 02, 2009 F2824343 removed after 139 days
July 23, 2011 F1118715 $429,000 $-124,000 -22%
January 01, 2012 F1118715 removed after 162 days
January 29, 2014 F1402029 $399,900 $-153,100 -28%
February 08, 2014 F1402029 $349,900 $-203,100 -37%

f1402029_1

Current Days on Market: 15 (0.04years)
Current ‘Official’ Days on Market: 15
2013 Assessment: $331,000
Desperation Score: 15.6

Great holding property on high traffic area of Clearbrook Road. O.C.P. designates as future commercial. Valuable corner holding property close to new freeway interchange. Operate your business from here…home is in good condition, full basement 3 bathroom 4 bedrooms rented to quality tenants wanting to stay if possible. Call lister for more information.


#7 ) Address:# 1305 15152 RUSSELL AV, White Rock, White Rock

February 05, 2009 F2902081 $312,000 $0 0%
February 20, 2009 F2902081 removed after 15 days
March 02, 2011 F1105330 $219,000 $-93,000 -30%
March 10, 2011 F1105330 removed after 8 days
November 10, 2011 F1127261 $344,900 $0 0%
February 10, 2012 F1127261 removed after 92 days
March 26, 2012 F1207518 $344,900 $0 0%
May 11, 2012 F1207518 removed after 46 days
August 11, 2012 F1220496 $349,500 $0 0%
March 01, 2013 F1220496 removed after 202 days
March 16, 2013 F1306018 $259,000 $-90,500 -26%
April 16, 2013 F1306018 removed after 31 days
June 15, 2013 F1314180 $239,000 $-110,500 -32%
July 20, 2013 F1314180 $229,000 $-120,500 -34%
December 02, 2013 F1314180 removed after 170 days
February 08, 2014 F1402814 $219,000 $-130,500 -37%

f1402814_1

Current Days on Market: 826 (2.26years)
Current ‘Official’ Days on Market: 5
2012 Assessment: $248,000
2011 Assessment: $251,000
Desperation Score: 16.8

Must Sell!!! Priced much below the assessed value for a quick sale. Unit is vacant and priced for immediate occupancy. Welcome to the Miramar Village luxury executive bachelor suite built by the Bosa Properties which offers high end appliances, large built in murphy bed, heated floors, A/C, full size washer/dryer, lots of storage, high end finishing thru-out plus breathtaking North Shore Mountain, City and Golden Ears Views. Convenient urban village location with all the amenities including transportation, restaurants, and shopping right outside your front door. Call today! At this unbelievable price it won’t last long! * PREC – Personal Real Estate Corporation

Must Sell!!! Priced much below the assessed value for a quick sale.  At this unbelievable price it won’t last long!


#6 ) Address:# 404 5099 SPRINGS BV, Cliff Drive, Tsawwassen

August 07, 2011 V903922 $1,199,000 $0 0%
September 14, 2011 V903922 $1,149,000 $-50,000 -4%
October 21, 2011 V903922 $979,000 $-220,000 -18%
February 21, 2012 V903922 $869,000 $-330,000 -28%
July 13, 2012 V903922 $799,000 $-400,000 -33%
July 17, 2012 V903922 removed after 345 days
July 21, 2012 V963185 $799,000 $-400,000 -33%
April 17, 2013 V963185 $779,000 $-420,000 -35%
August 01, 2013 V963185 removed after 376 days
August 14, 2013 V1022191 $779,000 $-420,000 -35%
December 19, 2013 V1022191 $759,000 $-440,000 -37%
February 11, 2014 V1022191 $739,000 $-460,000 -38%

v1022191_1

Current Days on Market: 921 (2.52years)
Current ‘Official’ Days on Market: 183
2013 Assessment: $643,000
2011 Assessment: $659,000
Desperation Score: 20.0

TSAWWASSEN SPRINGS! Brand new! Never lived in & no GST tax! Resort community living at it’s best & new amazing clubhouse is now under construction. Stunning corner luxury penthouse residence w/16′ vaulted ceilings, appliance and outdoor heater upgrades is executive all the way! The largest floor plan in building also offers 2 bedrooms & den, 2 huge covered decks (one heated), 2 secure parking stalls & both w/electric cart plugins, state of the art geothermal heating & air conditioning, & great golf course, water & mountain views. This is truly a golfer’s paradise! Easy to show anytime.

“Brand new! Never lived in & no GST tax!” and down $460K from the initial listing price yet still above assessment


#5 ) Address:11538 SURREY RD, Bolivar Heights, North Surrey

June 21, 2007 F2715949 $269,000 $0 0%
October 01, 2007 F2715949 removed after 102 days
February 06, 2008 F2802937 $279,000 $0 0%
February 29, 2008 F2802937 $259,000 $-20,000 -7%
March 28, 2008 F2802937 $239,800 $-39,200 -14%
July 04, 2008 F2802937 removed after 149 days
August 29, 2008 F2825378 $169,900 $-109,100 -39%
October 31, 2008 F2825378 $149,900 $-129,100 -46%
December 02, 2008 F2825378 $129,900 $-149,100 -53%
January 06, 2009 F2825378 removed after 130 days
July 03, 2010 F1018578 $165,000 $-114,000 -41%
January 02, 2011 F1018578 removed after 183 days
January 19, 2011 F1101326 $165,000 $-114,000 -41%
August 01, 2011 F1101326 removed after 194 days
February 10, 2014 F1402991 $169,000 $-110,000 -39%

No Picture

Current Days on Market: 3 (0.01years)
Current ‘Official’ Days on Market: 3
2012 Assessment: $195,000
2011 Assessment: $184,000
Desperation Score: 2.7

Build your dream home with the view of Port Mann and mountains on this vacant lot. Storm, sewer and other services are available nearby but not hooked. Motivated seller. Bring your offer. Asking $30,000 below the assessed value.

“Motivated seller. Bring your offer. Asking $30,000 below the assessed value.”


#4 ) Address:# 306 2515 PARK DR, Abbotsford East, Abbotsford

September 28, 2008 F2828198 $174,800 $0 0%
December 10, 2008 F2828198 removed after 73 days
July 18, 2013 F1316658 $134,500 $-40,300 -23%
August 01, 2013 F1316658 $129,900 $-44,900 -26%
August 14, 2013 F1316658 $125,500 $-49,300 -28%
September 20, 2013 F1316658 removed after 64 days
October 23, 2013 F1324200 $138,500 $-36,300 -21%
November 23, 2013 F1324200 $119,900 $-54,900 -31%
January 22, 2014 F1324200 removed after 91 days
February 03, 2014 F1402438 $119,000 $-55,800 -32%
February 06, 2014 F1402438 $104,500 $-70,300 -40%

f1402438_1

Current Days on Market: 210 (0.58years)
Current ‘Official’ Days on Market: 10
2013 Assessment: $138,000
Desperation Score: 26.5

Court Ordered Sale. Best priced unit in building. One bedroom South facing condo located close to all amenities. This unit has had all the carpets cleaned & fresh paint. One parking stall. * PREC – Personal Real Estate Corporation

“Court Ordered Sale. Best priced unit in building.” and now will bring down the price of every other unit in the building


#3 ) Address:# 308 1341 GEORGE ST, White Rock, White Rock

October 08, 2006 F2622691 $239,900 $0 0%
October 31, 2006 F2622691 removed after 23 days
June 15, 2013 F1314143 $209,000 $-30,900 -13%
September 30, 2013 F1314143 removed after 107 days
October 04, 2013 F1322790 $189,000 $-50,900 -21%
November 03, 2013 F1322790 $174,900 $-65,000 -27%
December 13, 2013 F1322790 $147,900 $-92,000 -38%
January 31, 2014 F1322790 removed after 119 days
February 10, 2014 F1403118 $139,000 $-100,900 -42%

No Picture

Current Days on Market: 243 (0.67years)
Current ‘Official’ Days on Market: 3
2012 Assessment: Unknown
2011 Assessment: $150,400
Desperation Score: 23.7

TOP FLOOR views- Prime location in central White Rock. 1 bdrm unit with in-suite laundry and a large 20′ west facing sunny balcony with ocean view. laminate flooring, updated paint, moldings, fixtures and appliances. Sliding doors to balcony from both the living rm and the master bdrm. Unit has storage. Building has new roof and windows features a top floor recreation rm with pool table and rooftop sundeck. Great Views from the roof top deck, rec room can be used for functions, gatherings. Call to view!


#2 ) Address:# 1405 15152 RUSSELL AV, White Rock, White Rock

June 22, 2007 F2716112 $306,900 $0 0%
July 06, 2007 F2716112 removed after 14 days
September 12, 2009 F2920523 $300,000 $-6,900 -2%
November 17, 2009 F2920523 $289,900 $-17,000 -6%
December 10, 2009 F2920523 $285,000 $-21,900 -7%
January 27, 2010 F2920523 $279,900 $-27,000 -9%
March 25, 2010 F2920523 $274,900 $-32,000 -10%
May 11, 2010 F2920523 removed after 241 days
May 14, 2010 F1013697 $269,900 $-37,000 -12%
August 06, 2010 F1013697 $267,700 $-39,200 -13%
September 08, 2010 F1013697 $259,900 $-47,000 -15%
January 02, 2011 F1013697 removed after 233 days
January 07, 2011 F1100142 $255,000 $-51,900 -17%
March 03, 2011 F1100142 removed after 55 days
March 17, 2011 F1106932 $379,000 $0 0%
September 13, 2011 F1106932 removed after 180 days
October 15, 2011 F1125676 $349,900 $-29,100 -8%
July 12, 2012 F1125676 removed after 271 days
August 11, 2012 F1220495 $349,900 $-29,100 -8%
January 17, 2013 F1220495 $249,000 $-130,000 -34%
March 10, 2013 F1220495 removed after 211 days
March 13, 2013 F1305715 $249,000 $-130,000 -34%
March 28, 2013 F1305715 $239,000 $-140,000 -37%
April 16, 2013 F1305715 removed after 34 days
April 21, 2013 F1309237 $299,000 $-80,000 -21%
June 29, 2013 F1309237 $249,800 $-129,200 -34%
December 02, 2013 F1309237 removed after 225 days
February 08, 2014 F1402815 $219,000 $-160,000 -42%

f1402815_1

Current Days on Market: 1615 (4.42years)
Current ‘Official’ Days on Market: 5
2012 Assessment: Unknown
2011 Assessment: $257,000
Desperation Score: 22.9

Must Sell!!! Priced much below the assessed value for a quick sale. Unit is vacant and priced for immediate occupancy. Welcome to the Miramar Village luxury executive bachelor suite built by the Bosa Properties which offers high end appliances, large built in murphy bed, heated floors, A/C, full size washer/dryer, lots of storage, high end finishing thru-out plus breathtaking North Shore Mountain, City and Golden Ears Views. Convenient urban village location with all the amenities including transportation, restaurants, and shopping right outside your front door. Call today! At this unbelievable price it won’t last long! * PREC – Personal Real Estate Corporation

Looks like this person owns at least two units in the building


#1 ) Address:# LOT 4 IRVINES LANDING RD, Pender Harbour, Sunshine Coast

April 07, 2013 V999659 $329,000 $0 0%
May 25, 2013 V999659 $298,000 $-31,000 -9%
June 26, 2013 V999659 removed after 80 days
June 28, 2013 V1014761 $225,000 $-104,000 -32%
January 16, 2014 V1014761 removed after 202 days
February 10, 2014 V1046131 $190,000 $-139,000 -42%

No Picture

Current Days on Market: 312 (0.85years)
Current ‘Official’ Days on Market: 3
2012 Assessment: Unknown
2011 Assessment: Unknown
Desperation Score: 18.7

Private 3.85 acres with South exposure overlooking Pender Hill, Mixal and Hotel Lakes. Driveway in, septic pre-approved. Close to nearby Marinas, waterfront recreation, hiking trails, Golf Course. A perfect opportunity to build your own retreat!

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10 responses to “Weekly Drop Suberbs – February 12, 2014

  1. Real Estate Tsunami February 12, 2014 at 3:36 pm

    # 7
    “built in Murphy bed”? Are there any other ones?

  2. Vancouverbound February 12, 2014 at 4:32 pm

    With the changes in immigration rules, the weekly price drop will become very interesting.
    Vancouverbound

    • bullwhip29 February 12, 2014 at 11:24 pm

      Yes, things are about to get very interesting indeed, particularly in areas like Vanc westside, the north shore and Richmond. As we’ve seen with the swift decline in the CAD, it doesn’t take much for the ball to get rolling once the MSM (ex Vanc) and big money players get involved in some shape or form. This story hit the global newswires pretty much the moment the budget was released. Anyone that believes the frothiest RE markets in Cda were not on Ottawa’s radar when this rule was considered are delusional. I guess we’re also about to find out how much influence the RE industry really does have after all (i think it is a tremendous amount…just sayin). With enough screaming, I’m sure the chumps in Ottawa could be swayed to either roll the rules back or introduce some other measures to calm the masses (unless of course their goal is to get slaughtered in the next election). Ever since the Income Trust debacle (among other lies and deceptions), I’ve never trusted these guys. Anything is possible going forward. Now potential RE investors don’t know if they are coming or going as the floor supporting this market could shift without notice. By no means am I a raging RE bull or anything like that. I would simply prefer the market to function on its own without interference and meddling from up above. I suppose a solution to this mess in the making (which they’ll undoubtedly consider at a later time ie. in 2015) would be to make it easier for those without any cash to get into this market…LOL. And when the $hit finally hits the fan as a result of the ongoing lunacy, guess who will have to foot the bill? Can’t win for losing, can you?…

      • Seeking Knowledge... February 13, 2014 at 11:28 pm

        Good point Bullwhip. Let’s hope Ottawa doesn’t bring back the 40 year mortgage. Or worse yet, CMHC insuring every mortgage.

      • bullwhip29 February 19, 2014 at 10:14 pm

        LOL…

        Well, that didn’t take long now, did it? Ottawa caves on decision to wind down Investor immigrant program. Nothing to see here, move along everyone…

      • an observer February 20, 2014 at 1:30 am

        Did something change with regards to the program cancellation? I’ve been looking online but didn’t notice anything

  3. Skook February 12, 2014 at 8:04 pm

    Yeah, Pender Harbour – you’re #1!!!

    Vacant land sales on the Sunshine Coast peaked in 2004 at 380 sales. In 2013, there were 54 (excluding the few sales on Gambier, Keats and other nearby islands). This is an -85.8% drop from peak. In PH, there were only 8 land sales in 2013 including a 2.59ac waterfront parcel originally bought for $1.2mill in 2008 (mentioned it right in the listing) and sold this past August for $650,000 (-45.8%).

    SC Land stats can be found here:
    http://vancouverpeak.com/showthread.php?tid=5189&pid=5888#pid5888

  4. Rob February 12, 2014 at 10:06 pm

    Who would want a bachelor “pied a terre” in White Rock?

  5. Kelly February 13, 2014 at 11:28 pm

    Welcome back observer!!!!!!!

  6. Real Estate Tsunami February 16, 2014 at 8:51 am

    Buyer to verify is important! 🙂

    Astoria, locate near Blundell and Heather St. Quiet inside unit with 9′ high ceilings on main floor. Powder room on main also. One of the biggest units in the complex. Spacious tandem parking where owner has built in big shelves to keep stuff. 3 bedrooms and 2 full bathrooms up. Spacious playground for kids to play. Very well keeping by original owner. Walking distance to Garden city shopping mall. Debeck elementary and Palmer secondary. A pleasure to show. All measurements are approximately. Buyer to verify is important.

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