Weekly Drop Metro Vancouver Attached – February 25, 2014

Here are the 10 attached properties in 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 week AND have dropped the largest percentage overall from their original asking price.

The condo market continues to get hammered and with so much new inventory coming along with new rules regarding depreciation reports I believe it’s going to get much worse.

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#10 ) Address:# 2606 6540 BURLINGTON AV, Metrotown, Burnaby

June 06, 2008	V714151	$720,000	$0	0%
July 06, 2008	V714151	$668,000	$-52,000	-7%
September 07, 2008	V714151	removed after 93 days
April 26, 2012	V945828	$698,800	$-21,200	-3%
August 01, 2012	V945828	removed after 97 days
August 22, 2012	V967508	$688,888	$-31,112	-4%
December 16, 2012	V967508	removed after 116 days
December 20, 2012	V982936	$688,888	$-31,112	-4%
April 01, 2013	V982936	removed after 102 days
February 21, 2014	V1048199	$529,900	$-190,100	-26%

Current Days on Market: 5 (0.01years)
Current ‘Official’ Days on Market: 5
2013 Assessment: $563,000
2011 Assessment: $706,000
Desperation Score: 16.9

Penthouse, two level! Spectacular, panoramic, breathtaking views frm SFU to the Gulf Islands & Tsawwassan! Stunning & elegant best describes this stylish, completely reno 2 lvl, spacious, loft-style, 2 bed + den/flex penthouse at BurlingtonSquare. No expenses spared in the custom contemporary design & finishings! Other ftrs incl oversized bedrooms & bthrms, spacious open living area w/ vaulted ceiling & bay windows, balcony off DR, 350 sf rooftop deck, 2 parking & 1 storage locker. Excellent amenities incl squash court, hot tub, sauna & rec lounge. Steps to Metrotown, transit, Skytrain, Bonsor Rec Centre, T&T & all your other daily essentials! Building is re-roofed, re-piped & its elevator is upgraded. Low strata fee incl hot water.

Assessment down 20% in 2 years and they’ve abandoned the magic 8’s in the price.  I’m wondering if this is a foreclosure

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#9 ) Address:# 301 1480 DUCHESS AV, Ambleside, West Vancouver

January 23, 2010	V805583	$679,000	$0	0%
February 15, 2010	V805583	removed after 23 days
May 30, 2010	V833743	$978,000	$0	0%
July 08, 2010	V833743	$939,000	$-39,000	-4%
September 08, 2010	V833743	removed after 101 days
September 10, 2010	V849302	$959,000	$-19,000	-2%
November 16, 2010	V849302	removed after 67 days
November 20, 2010	V858996	$899,000	$-79,000	-8%
January 27, 2011	V858996	removed after 68 days
January 30, 2011	V866214	$888,000	$-90,000	-9%
February 25, 2011	V866214	removed after 26 days
March 05, 2011	V873570	$898,000	$-80,000	-8%
March 29, 2011	V873570	removed after 24 days
October 20, 2012	V977410	$819,000	$-159,000	-16%
February 13, 2013	V977410	removed after 116 days
February 17, 2013	V991177	$789,000	$-189,000	-19%
March 10, 2013	V991177	removed after 21 days
March 14, 2013	V995569	$699,000	$-279,000	-29%
March 25, 2013	V995569	removed after 11 days
April 10, 2013	V999834	$798,000	$-180,000	-18%
June 07, 2013	V999834	removed after 58 days
June 15, 2013	V1012363	$779,000	$-199,000	-20%
August 24, 2013	V1012363	removed after 70 days
September 05, 2013	V1025064	$779,000	$-199,000	-20%
November 15, 2013	V1025064	removed after 71 days
January 31, 2014	V1044269	$740,000	$-238,000	-24%
February 19, 2014	V1044269	$719,000	$-259,000	-26%

Current Days on Market: 494 (1.35years)
Current ‘Official’ Days on Market: 26
2013 Assessment: $745,000
Desperation Score: 35.8

Top 5 reasons this unit is a gem. #1 LOCATION – Situated only a few blocks from Ambleside park, Marine Dr restaurants, and Park Royal shopping center. #2 VIEW – Amazing south western exposure with views of Lions Gate to UBC from every room. #3 RENOVATIONS – Beautifully updated custom kitchen including stainless appliances, Caeser stone countertops, solid wood cabinets. New hardwood flooring through-out and fully modernized bathrooms. It’s gorgeous. #4 LAY-OUT – Open concept kitchen with dining area, huge pantry, over sized master with walk-thru closet and ensuite. #5 PRICE – Priced sharp for quick sell and below assessed value. OPEN HOUSE Sun Feb 16th 2-4pm. Don’t miss this one. No pets, No rentals, 19+, No worries. *click multimedia button for video*

13 MLS numbers and counting

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#8 ) Address:# 203 120 E 4TH ST, Lower Lonsdale, North Vancouver

February 07, 2010	V808535	$269,900	$0	0%
March 06, 2010	V808535	$259,900	$-10,000	-4%
April 06, 2010	V808535	removed after 58 days
May 13, 2010	V829658	$259,900	$-10,000	-4%
May 25, 2010	V829658	removed after 12 days
June 30, 2011	V897004	$259,900	$-10,000	-4%
September 09, 2011	V897004	$254,900	$-15,000	-6%
September 20, 2011	V897004	$250,000	$-19,900	-7%
December 15, 2011	V897004	removed after 168 days
January 08, 2012	V924027	$249,900	$-20,000	-7%
January 31, 2012	V924027	$244,900	$-25,000	-9%
March 02, 2012	V924027	$239,900	$-30,000	-11%
April 08, 2012	V924027	removed after 91 days
April 18, 2012	V943727	$244,900	$-25,000	-9%
June 13, 2012	V943727	removed after 56 days
July 23, 2012	V963443	$239,900	$-30,000	-11%
September 05, 2012	V963443	$233,900	$-36,000	-13%
September 11, 2012	V963443	$229,900	$-40,000	-15%
September 18, 2012	V963443	$219,900	$-50,000	-19%
February 01, 2013	V963443	removed after 193 days
February 13, 2013	V989772	$219,900	$-50,000	-19%
March 07, 2013	V989772	$216,900	$-53,000	-20%
April 04, 2013	V989772	$209,900	$-60,000	-22%
June 30, 2013	V989772	removed after 137 days
July 10, 2013	V1016744	$210,000	$-59,900	-22%
October 30, 2013	V1016744	removed after 112 days
November 23, 2013	V1036663	$209,000	$-60,900	-23%
January 17, 2014	V1036663	$205,000	$-64,900	-24%
January 28, 2014	V1036663	$200,000	$-69,900	-26%
February 19, 2014	V1036663	$193,900	$-76,000	-28%

Current Days on Market: 972 (2.66years)
Current ‘Official’ Days on Market: 95
2013 Assessment: $189,500
Desperation Score: 19.1

Tremendous value with his spacious 664sq/ft 1 bedroom suite in a well run mostly owner occupied building steps to Lonsdale, easy walk to Lonsdale Quay & Sea bus. The suite has been well maintained by resident owner with updates in kitchen/bathroom & laminate floors. Enclosed balcony is perfect to enjoy your morning coffee or create a den. Take in the private treed outlook. Parking, locker & 1 dog/cat allowed. The roof has been replaced. Call today for your private showing or come along to our OPEN HOUSE on SUNDAY 23rd FEBRUARY 3pm-4pm

Listed for almost 3 years but still above assessment but don’t worry, 40 year old condo’s often sell for above assessment…  See you in #1 spot some time soon

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#7 ) Address:# 312 8511 WESTMINSTER HY, Brighouse, Richmond

February 11, 2010	V809044	$208,000	$0	0%
January 01, 2011	V809044	removed after 324 days
March 25, 2011	V877806	$289,000	$0	0%
July 29, 2011	V877806	$229,000	$-60,000	-21%
October 31, 2011	V877806	removed after 220 days
November 19, 2011	V920275	$209,900	$-79,100	-27%
October 01, 2012	V920275	removed after 317 days
February 21, 2014	V1048048	$207,000	$-82,000	-28%

No Picture

Current Days on Market: 5 (0.01years)
Current ‘Official’ Days on Market: 5
2013 Assessment: $205,700
2011 Assessment: $216,000
Desperation Score: 3.0

Good and bright unit with potential. Vault ceiling, sunken living room, wood burning fireplace to name a few. Heat and water included in maintenance fee. With some renovation it can turn into a nice and trendy first time buyer home.

That entire description is code for “This place is a dump, enter at own risk”.  Another 30 year old condo listed above assessment

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#6 ) Address:# 310 4111 BAYVIEW ST, Steveston South, Richmond

May 04, 2012	V947557	$879,000	$0	0%
May 11, 2012	V947557	$849,000	$-30,000	-3%
May 23, 2012	V947557	$819,000	$-60,000	-7%
June 04, 2012	V947557	removed after 31 days
June 09, 2012	V955561	$789,000	$-90,000	-10%
June 22, 2012	V955561	$749,000	$-130,000	-15%
July 24, 2012	V955561	$689,000	$-190,000	-22%
September 01, 2012	V955561	removed after 84 days
September 08, 2012	V970245	$689,000	$-190,000	-22%
January 01, 2013	V970245	removed after 115 days
March 14, 2013	V995580	$689,000	$-190,000	-22%
March 29, 2013	V995580	$669,000	$-210,000	-24%
May 22, 2013	V995580	removed after 69 days
June 02, 2013	V1009977	$669,000	$-210,000	-24%
June 20, 2013	V1009977	$649,000	$-230,000	-26%
September 23, 2013	V1009977	removed after 113 days
November 27, 2013	V1037163	$638,800	$-240,200	-27%
February 19, 2014	V1037163	$625,000	$-254,000	-29%

Current Days on Market: 663 (1.82years)
Current ‘Official’ Days on Market: 91
2013 Assessment: $700,000
2011 Assessment: $731,000
Desperation Score: 21.6

Priced to Sell! This 3 Full Bedroom with Den and 2 bathrooms is ready for you to call home. The last to be built in this Onni Complex of 5 buildings. All 3 bedrooms have their own balcony. Master facing the most remarkable sunsets plus the 2 other bedrooms have balconies large enough for a 3 pc bistro sets facing the quiet courtyard. Corner/End unit, 2 Car parking, in suite laundry, etc. Walking distance to all that pleases you in the heart of Steveston Village. This is a great place to feel the buzz of the village. Canada Day is coming soon so don’t wait… considerably the best priced for this complex.

“considerably the best priced for this complex.” I bet all the neighbours love this!

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#5 ) Address:2144 W 3RD AV, Kitsilano, Vancouver West

February 06, 2008	V687168	$489,000	$0	0%
February 15, 2008	V687168	removed after 9 days
April 23, 2012	V945046	$799,000	$0	0%
June 08, 2012	V945046	removed after 46 days
June 15, 2012	V956459	$694,500	$-104,500	-13%
October 12, 2012	V956459	removed after 119 days
April 07, 2013	V999779	$648,000	$-151,000	-19%
April 10, 2013	V999779	removed after 3 days
April 12, 2013	V1000730	$648,000	$-151,000	-19%
July 25, 2013	V1000730	removed after 104 days
August 01, 2013	V1020086	$599,000	$-200,000	-25%
October 30, 2013	V1020086	removed after 90 days
January 29, 2014	V1044010	$599,000	$-200,000	-25%
February 25, 2014	V1044010	$559,000	$-240,000	-30%

Current Days on Market: 674 (1.85years)
Current ‘Official’ Days on Market: 28
2013 Assessment: $545,200
2011 Assessment: $516,200
Desperation Score: 24.0

Unique character townhome in 4 unit complex! This 888 sq.ft. 2 bedroom, 2 bathroom home is a rare find in Kits. Enjoy lots of natural light in this south-facing end unit. Features include south-facing private yard with large private patio area, newly renovated kitchen (cabinets, appliances, granite), and new bathrooms, crown moulding, in-suite laundry, wood burning fireplace with new surround, 2 floor plan with bedrooms upstairs, walk-through in-suite storage space, new carpet, etc.etc. Open parking stall off lane, and lots of storage in this unit. As for location you are in the heart of the Kitsilano only 3 blocks to Kits beach and pool, 1 block to famous 4th Ave shopping (restaurants/lulu lemon!/cafes/boutiques), minutes to downtown. Guess where the gang is meeting this year for fireworks! Building has been rainscreened, roof (2002), all new windows (2008), complete exterior paint (2011), newly landscape grounds (2012), and is pet and rental friendly! Bonus is low maintenance fees only $225/mo.

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#4 ) Address:# 104 3731 W 6TH AV, Point Grey, Vancouver West

May 17, 2008	V706993	$284,900	$0	0%
May 24, 2008	V706993	$274,900	$-10,000	-4%
June 05, 2008	V706993	$258,800	$-26,100	-9%
June 18, 2008	V706993	$239,900	$-45,000	-16%
July 30, 2008	V706993	removed after 74 days
July 12, 2013	V1017003	$235,000	$-49,900	-18%
September 20, 2013	V1017003	$225,000	$-59,900	-21%
October 29, 2013	V1017003	$219,000	$-65,900	-23%
November 15, 2013	V1017003	$211,000	$-73,900	-26%
January 16, 2014	V1017003	$206,000	$-78,900	-28%
February 25, 2014	V1017003	$195,000	$-89,900	-32%

Current Days on Market: 229 (0.63years)
Current ‘Official’ Days on Market: 229
2013 Assessment: $202,600
2011 Assessment: $221,100
Desperation Score: 16.2

Location. Location. Location! Point Grey just few blocks from Jericho Beach. Spacious studio for sale. Great layout. Low strata fees incl heat & hot water. Easy access to UBC and downtown by transit. Shopping and recreation nearby. Perfect for the 1st time home buyer. Maintenance fees include Gardening, Heat, Hot Water, Management. You’re not going to find a better deal anywhere else. Amazing opportunity to own your home!

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#3 ) Address:# 1701 1372 SEYMOUR ST, Downtown, Vancouver West

January 13, 2012	V925018	$2,065,900	$0	0%
January 11, 2013	V925018	removed after 364 days
January 13, 2013	V984855	$3,044,946	$0	0%
April 03, 2013	V984855	removed after 80 days
February 19, 2014	V1047761	$2,065,900	$-979,046	-32%

Current Days on Market: 7 (0.02years)
Current ‘Official’ Days on Market: 7
2013 Assessment: $1,620,000
Desperation Score: 24.4

Luxurious Yaletown living. This magnificent southwest facing 2,170 sq ft 3 bedroom + family + den + flex home is lavishly finished with floor-to-ceiling windows, wide-plank engineered hardwood flooring, forced air heating & cooling and Control4 automated lighting and sound control with built-in speakers. Gourmet kitchen boasts Miele appliances and Sub-Zero built-in fridge, craftsman flat-panel oak cabinetry and solid composite stone countertops. Residents enjoy exclusive access to the 10,000 sq ft Wellness Centre featuring professionally-equipped gym, yoga room, pool, hot tub, sauna & steam rooms and theatre. Enjoy 24-hour concierge services. Built by award-winning Onni Group. Presentation Centre open daily 12-6pm except Fri.

I checked the description on that $3 million price point and it’s the same as the current description more or less.  If only they made the price $3,088,986 they probably would have sold it!

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#2 ) Address:# 201 7180 LINDEN AV, Highgate, Burnaby

December 02, 2007	V679995	$159,900	$0	0%
January 18, 2008	V679995	removed after 47 days
February 28, 2008	V691327	$197,900	$0	0%
December 01, 2008	V691327	removed after 277 days
January 14, 2009	V748132	$192,900	$-5,000	-3%
July 01, 2009	V748132	removed after 168 days
July 10, 2009	V776019	$187,900	$-10,000	-5%
January 03, 2010	V776019	removed after 177 days
January 29, 2010	V806551	$175,000	$-22,900	-12%
March 31, 2010	V806551	$169,000	$-28,900	-15%
July 01, 2010	V806551	removed after 153 days
July 07, 2010	V840497	$159,000	$-38,900	-20%
January 10, 2011	V840497	removed after 187 days
February 10, 2011	V868282	$149,000	$-48,900	-25%
February 17, 2011	V868282	removed after 7 days
February 25, 2011	V871656	$149,000	$-48,900	-25%
March 11, 2011	V871656	removed after 14 days
May 18, 2011	V888821	$172,000	$-25,900	-13%
May 31, 2011	V888821	$165,000	$-32,900	-17%
June 16, 2011	V888821	$159,000	$-38,900	-20%
June 22, 2011	V888821	removed after 35 days
November 15, 2013	V1035962	$147,000	$-50,900	-26%
December 17, 2013	V1035962	$139,900	$-58,000	-29%
February 19, 2014	V1035962	$129,900	$-68,000	-34%

Current Days on Market: 103 (0.28years)
Current ‘Official’ Days on Market: 103
2013 Assessment: $124,800
Desperation Score: 12.3

GREAT BUY! Updated 1 bdrm close to Highgate Village. Newer kitchen and bathroom cabinets and laminate floors. Sunny balcony. Well maintained building. Short walk to public transit, shopping, library and new recreation centre.

And another 40 year old condo listed above assessment…

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#1 ) Address:1456 BEWICKE AV, Hamilton, North Vancouver

November 01, 2008	V742016	$1,099,500	$0	0%
November 15, 2008	V742016	$1,049,500	$-50,000	-5%
March 31, 2009	V742016	$999,500	$-100,000	-9%
July 01, 2009	V742016	removed after 242 days
September 04, 2011	V908166	$998,000	$-101,500	-9%
September 28, 2011	V908166	removed after 24 days
October 30, 2011	V917848	$859,900	$-239,600	-22%
December 02, 2011	V917848	removed after 33 days
April 09, 2012	V941577	$889,000	$-210,500	-19%
May 03, 2012	V941577	$879,900	$-219,600	-20%
May 29, 2012	V941577	$859,000	$-240,500	-22%
September 12, 2012	V941577	removed after 156 days
June 24, 2013	V1014310	$788,900	$-310,600	-28%
September 02, 2013	V1014310	removed after 70 days
September 20, 2013	V1027986	$748,000	$-351,500	-32%
October 25, 2013	V1027986	removed after 35 days
November 03, 2013	V1034137	$718,000	$-381,500	-35%
January 04, 2014	V1034137	removed after 62 days
January 16, 2014	V1040963	$699,900	$-399,600	-36%
February 08, 2014	V1040963	$689,900	$-409,600	-37%
February 22, 2014	V1040963	$679,000	$-420,500	-38%

Current Days on Market: 247 (0.68years)
Current ‘Official’ Days on Market: 41
2013 Assessment: $732,000
Desperation Score: 33.7

New 1/2 duplex in a convenient location close to all amenities. Offering a bright main floor with large picture windows, open plan living room and dining room, and galley kitchen adjacent to a family room and eating area. Upstairs features 3 bedrooms, 2 bathrooms including a spacious master with floor to ceiling windows, full ensuite, and a balcony. Downstairs offers a recreation room, fourth bedroom, and laundry room. Central location close to transit, schools, shopping, and more. Court ordered sale. Sold As Is, Where Is.

“Court ordered sale. Sold As Is, Where Is.”