Vancouver Price Drop

Documenting Vancouver real estate price movements

Weekly Desperation Score Suburbs – March 26, 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 the highest desperation score which is a formula based on price changes, relists and amounts pro rated for recency.  This will hopefully provide a more interesting look at the suburbs since previous weekly drops for these areas were completely filled with old condo’s and lot sales

White Rock has 3 listings and Panorama Ridge in Surrey adds 2 more


#10 ) Address:13715 BLACKBURN AV, White Rock, White Rock

January 09, 2009 F2900320 $520,000 $0 0%
February 21, 2009 F2900320 $465,000 $-55,000 -11%
February 27, 2009 F2900320 removed after 49 days
March 19, 2011 F1107255 $778,800 $0 0%
May 11, 2011 F1107255 $699,000 $-79,800 -10%
July 03, 2011 F1107255 removed after 106 days
May 26, 2012 F1213724 $715,000 $-63,800 -8%
June 07, 2012 F1213724 removed after 12 days
June 08, 2012 F1214983 $715,000 $-63,800 -8%
July 03, 2012 F1214983 removed after 25 days
August 17, 2013 F1319237 $2,275,000 $0 0%
October 04, 2013 F1319237 $1,999,000 $-276,000 -12%
March 10, 2014 F1319237 removed after 205 days
March 21, 2014 F1406498 $1,799,000 $-476,000 -21%

 

f1406498_1

Current Days on Market: 223 (0.61years)
Current ‘Official’ Days on Market: 7
2013 Assessment: $1,409,000
2011 Assessment: $630,800
Desperation Score: 25.0

Stunning new custom home at the heart of White Rock, over 6000 sq ft of luxury living space on a quiet neighborhood street. Luxurious design blow your mind! Open concept main floor – elegant kitchen, quartz counters throughout, stainless appliances with a large wok kitchen and pantry over 2000 sq ft of covered decks/patio/cedar soffits and gas bbq hook-up for year round entertaining/outdoor living space. Radiant heating, security system camera/intercom (no carpet). Opulent master/ensuite/walk-in closet with large covered deck. Excellent flex plan in basement extra space for family, large rec room and media room with wet bar. Elgin Park Secondary catchment. Close to shopping, recreation and bus routes ! Minutes driving to White Rock beach, 99 highways !

Half a million down on this new build.  Assessment seems very low – this looks like a $200/sqft build so at 6000 sqft that’s about $1.2 million plus say $600K for land value.  Looks like they paid around $700K for the original home so I have to think they are in the red at $1.8 million.


#9 ) Address:1470 BEACH GROVE RD, Beach Grove, Tsawwassen

August 05, 2013 V1020516 $1,750,000 $0 0%
November 03, 2013 V1020516 $1,675,000 $-75,000 -4%
February 04, 2014 V1020516 $1,599,000 $-151,000 -9%
March 24, 2014 V1020516 $1,475,000 $-275,000 -16%

 

v1020516_1

Current Days on Market: 235 (0.64years)
Current ‘Official’ Days on Market: 235
2013 Assessment: $1,461,000
2011 Assessment: $1,503,000
Desperation Score: 25.2

Come and see this Fabulous Beach Grove Waterfront home, with exceptional views from almost every room. Enjoy your own private 47′ x 15′ Beach Front Patio, or your own private enclosed garden terrace at the front of the home, or sit on the 23′ x 20′ roof top deck over-looking quiet Beach Grove Street. Access the beach by your own private retractable ladder. This is outdoor Waterfront living at its best! The dramatic and spacious interior is just over 2500 Sq Ft and is waiting for your design choices to update and beautify this one of a kind custom built home (blueprints/plans available). Don’t miss this once in a life time opportunity to own something special and unique! OPEN HOUSE SUNDAY MARCH 30th 2:00PM TO 4:00PM

Waterfront for under $1.5 million although hard to call Beach Grove waterfront – as far as I can tell it is more of a bog, isn’t it?  Still, seems like it should be selling around this price.


#8 ) Address:13240 57TH AV, Panorama Ridge, Surrey

July 12, 2012 F1218050 $2,349,999 $0 0%
October 11, 2012 F1218050 removed after 91 days
October 19, 2012 F1225736 $2,250,000 $-99,999 -4%
January 31, 2013 F1225736 removed after 104 days
March 22, 2013 F1306566 $2,149,000 $-200,999 -9%
August 30, 2013 F1306566 removed after 161 days
September 16, 2013 F1321524 $1,949,000 $-400,999 -17%
December 17, 2013 F1321524 removed after 92 days
March 24, 2014 F1406722 $1,849,000 $-500,999 -21%

 

f1406722_1

Current Days on Market: 624 (1.71years)
Current ‘Official’ Days on Market: 4
2013 Assessment: $1,841,000
2011 Assessment: $1,930,000
Desperation Score: 25.2

This custom built home is spectacular! As you walk in the front door you will be stunned by the double staircase and the large formal living room on your right and the separate dining room to your left. The gourmet kitchen is large and of the very highest quality. It also features and separate wok/spice kitchen. With 6 bedrooms and 8 baths (6 full ensuite) this is the perfect home for a large or extended family. The elevator is a perfect alternative to the stairs. Find a huge games room above that garage with its own bathroom and private entrance. Come to Panorama Ridge and live like Royalty!

“live like Royalty!” – yeah I heard that Prince William is looking at settling down in Panorama Ridge

 


#7 ) Address:949 LEE ST, White Rock, White Rock

September 28, 2007 F2724982 $468,000 $0 0%
October 17, 2007 F2724982 $459,900 $-8,100 -2%
December 24, 2007 F2724982 removed after 87 days
February 09, 2010 F1003489 $1,420,000 $0 0%
May 02, 2010 F1003489 removed after 82 days
April 29, 2013 F1309884 $1,495,000 $0 0%
June 02, 2013 F1309884 $1,445,000 $-50,000 -3%
August 19, 2013 F1309884 removed after 112 days
August 24, 2013 F1319874 $1,399,000 $-96,000 -6%
November 27, 2013 F1319874 $1,349,000 $-146,000 -10%
December 09, 2013 F1319874 removed after 107 days
December 17, 2013 F1327080 $1,349,000 $-146,000 -10%
March 14, 2014 F1327080 removed after 87 days
March 20, 2014 F1406325 $1,349,000 $-146,000 -10%

 

f1406325_1

Current Days on Market: 333 (0.91years)
Current ‘Official’ Days on Market: 8
2013 Assessment: $1,041,000
2011 Assessment: $1,054,000
Desperation Score: 25.8

Custom built by Bear Creek in 2010. 2/6 construction with gorgeous Sappelli hardwood floors on two levels. Clear Fir casings, Douglas Fir Gluelam beams, raw steel staircase with glass guards, Brazilian Granite Titanium on kitchen counters.Tec Lighting, Emtek Hardware and Rio Bel Taps & Faucets. All windows Argon Filled Low E, solar low gain. Exceptionally well built and designed -energy smart home. Four decks, fenced yard, landscaped with lighting & natural gas outlets. Ocean view from rooftop deck. Easy walk to the White Rock beach & pier. Come see the home for yourself!

I assume it sold for around $1.4 million in 2010.  They keep on relisting at the same price which either means they aren’t that interested in selling or more likely that they are unable to go any lower


#6 ) Address:8059 WILLET PL, Hatzic, Mission

March 16, 2008 F2806836 $545,000 $0 0%
April 10, 2008 F2806836 removed after 25 days
February 17, 2013 F1303591 $589,000 $0 0%
April 13, 2013 F1303591 $574,900 $-14,100 -2%
May 12, 2013 F1303591 removed after 84 days
May 25, 2013 F1312160 $379,000 $-210,000 -36%
July 06, 2013 F1312160 $369,000 $-220,000 -37%
September 07, 2013 F1312160 $364,900 $-224,100 -38%
September 18, 2013 F1312160 $354,900 $-234,100 -40%
February 25, 2014 F1312160 removed after 276 days
February 27, 2014 F1404652 $339,900 $-249,100 -42%
March 24, 2014 F1404652 $324,900 $-264,100 -45%

 

f1404652_1

Current Days on Market: 404 (1.11years)
Current ‘Official’ Days on Market: 29
2013 Assessment: $494,000
Desperation Score: 29.3

Opportunity knocks! Huge rancher with full bsmt on large lot and southern view! Enjoy all the space of one level living and the fully finished bsmt with a suite (if needed) brings you…shows well and fantastic value. Some say hurry or you will miss out, this time it’s true!! (Bonus, 10,000 sq.ft. lot next door available for only $159,900 MLS #F1404650)

“Some say hurry or you will miss out, this time it’s true!!” – listed for over a year and is currently 35% under assessment


#5 ) Address:26033 56TH AV, Salmon River, Langley

October 03, 2007 F2725438 $949,000 $0 0%
October 20, 2007 F2725438 $899,000 $-50,000 -5%
November 07, 2007 F2725438 $849,000 $-100,000 -11%
February 01, 2008 F2725438 removed after 121 days
February 12, 2008 F2803369 $799,900 $-149,100 -16%
March 28, 2008 F2803369 $699,900 $-249,100 -26%
May 07, 2008 F2803369 removed after 85 days
April 04, 2013 F1307543 $849,898 $-99,102 -10%
April 25, 2013 F1307543 $799,898 $-149,102 -16%
June 25, 2013 F1307543 $749,898 $-199,102 -21%
October 02, 2013 F1307543 removed after 181 days
October 09, 2013 F1323265 $699,898 $-249,102 -26%
December 17, 2013 F1323265 $689,898 $-259,102 -27%
January 04, 2014 F1323265 removed after 87 days
January 17, 2014 F1401016 $649,898 $-299,102 -32%
March 21, 2014 F1401016 $599,898 $-349,102 -37%

 

f1401016_1

Current Days on Market: 358 (0.98years)
Current ‘Official’ Days on Market: 70
2013 Assessment: $581,000
Desperation Score: 35.0

Great 96,000+ sq.ft.(2.21 acre) building lot with small creek and fruit trees for country estate and/or small Equestrian Centre with 3 stall barn, paddock and 110×80 ft riding ring. Lrg bsmt home with 3 bdrm bsmt and sep 2 bdrm mobile home fully rented for turnkey cash flow. Other out buildings incl 30×23 Quonset with 230 and car hoist, storage shed and an 800 sq.ft. portable. Lots of room and parking for 3 lrg trucks. Ideal for home based business with exposure backing onto Hwy #1, facing 56 Ave and next to 264 St Exit to Border crossing, bring your ideas…HURRY!!

“HURRY!!”.  They love the 898 in the price but doesn’t seem to be bringing them much luck


#4 ) Address:15518 SEMIAHMOO AV, White Rock, White Rock

May 05, 2009 F2907274 $634,900 $0 0%
May 06, 2009 F2907274 $609,900 $-25,000 -4%
July 09, 2009 F2907274 removed after 65 days
February 28, 2012 F1205026 $877,000 $0 0%
March 19, 2012 F1205026 removed after 20 days
August 17, 2013 F1319336 $2,500,000 $0 0%
October 25, 2013 F1319336 removed after 69 days
November 03, 2013 F1324731 $2,390,000 $-110,000 -4%
December 02, 2013 F1324731 removed after 29 days
January 16, 2014 F1400085 $2,300,000 $-200,000 -8%
March 12, 2014 F1400085 $1,999,000 $-501,000 -20%
March 20, 2014 F1400085 removed after 63 days
March 24, 2014 F1406782 $1,999,000 $-501,000 -20%

 

f1406782_1

Current Days on Market: 223 (0.61years)
Current ‘Official’ Days on Market: 4
2013 Assessment: $1,435,000
2011 Assessment: $811,000
Desperation Score: 35.3

Located at the heart of White Rock, this west Contemporary residence offers nothing but the highest quality of craftsmanship and pays attention to every single detail, Luxurious design blow your mind! Features include miles of luxurious Italian hardwood floors & tiles, a custom designed open Concept kitchen with top of the line appliances, large island for catering, Fully Opened living/dining area and spacious media/guest room. Upstairs have gorgeous master with breathtaking ensuite, custom walk in closet and a HUGE 500 sqft patio along with two ensuite bedrooms, School, shopping Centre, and Beach are within proximity. MUST SEE!!

And another new build in White Rock down half a million and stalled at the current price.  Unlike the #10 listing, this one still has a long way to go


#3 ) Address:3088 FIRESTONE PL, Westwood Plateau, Coquitlam

September 23, 2013 V1028385 $1,299,000 $0 0%
October 23, 2013 V1028385 removed after 30 days
November 11, 2013 V1035448 $1,399,000 $0 0%
December 05, 2013 V1035448 $1,365,000 $-34,000 -2%
January 22, 2014 V1035448 $1,360,000 $-39,000 -3%
January 31, 2014 V1035448 removed after 81 days
February 08, 2014 V1045968 $1,359,800 $-39,200 -3%
February 16, 2014 V1045968 $1,338,800 $-60,200 -4%
February 19, 2014 V1045968 $1,318,800 $-80,200 -6%
February 21, 2014 V1045968 $1,289,800 $-109,200 -8%
March 26, 2014 V1045968 $1,279,800 $-119,200 -9%

 

v1045968_1

Current Days on Market: 186 (0.51years)
Current ‘Official’ Days on Market: 48
2013 Assessment: $1,247,000
Desperation Score: 36.5

Prestigious Hampton Green in Westwood Plateau. Over 5,000 sqft building on 12,300 lot, green belt, this home has it all, two bedroom legal suite, elegant entrance with two-sided spiral staircase, leads to formal living room/dining room, super-size kitchen and family room is facing to a manicured backyard with wooden patio and pond for your summer entertainment. Four bedroom and three full bathrooms, and many more to list..


#2 ) Address:4703 CAMERON RD, Pender Harbour, Sunshine Coast

March 09, 2012 V903605 $399,000 $0 0%
March 31, 2012 V903605 removed after 22 days
April 02, 2012 V916948 $1,499,000 $0 0%
June 16, 2012 V916948 $1,299,000 $-200,000 -13%
January 01, 2013 V916948 removed after 274 days
September 05, 2013 V1025093 $955,500 $-543,500 -36%
October 06, 2013 V1025093 $903,000 $-596,000 -40%
November 23, 2013 V1025093 removed after 79 days
December 17, 2013 V1038918 $859,900 $-639,100 -43%
January 29, 2014 V1038918 $839,900 $-659,100 -44%
March 11, 2014 V1038918 removed after 84 days
March 26, 2014 V1054239 $819,000 $-680,000 -45%

 

v1054239_1

Current Days on Market: 204 (0.56years)
Current ‘Official’ Days on Market: 2
2013 Assessment: $912,000
Desperation Score: 38.0

Beautiful home in desirable Arbutus Landing, this is a stunning waterfront property. The south-facing ocean views can be enjoyed from the amazing decks. The open plan layout of the living areas is enhanced by the feature wood-burning fireplace. Hardwood flooring flows throughout the dining and living rooms. This is an area of outstanding natural beauty, and this is the home to enjoy it from.

Sunshine Coast waterfront down 45%


#1 ) Address:12958 COULTHARD RD, Panorama Ridge, Surrey

May 05, 2009 F2906473 $1,898,000 $0 0%
October 31, 2009 F2906473 removed after 179 days
February 06, 2010 F1003379 $1,628,000 $-270,000 -14%
April 19, 2010 F1003379 removed after 72 days
April 22, 2010 F1010773 $1,425,000 $-473,000 -25%
June 26, 2010 F1010773 $1,375,000 $-523,000 -28%
July 29, 2010 F1010773 removed after 98 days
October 19, 2010 F1025971 $1,275,000 $-623,000 -33%
January 21, 2011 F1025971 $1,450,000 $-448,000 -24%
February 27, 2011 F1025971 removed after 131 days
April 07, 2011 F1109040 $1,888,000 $-10,000 -1%
July 23, 2011 F1109040 $1,698,000 $-200,000 -11%
September 21, 2011 F1109040 $1,578,000 $-320,000 -17%
October 14, 2011 F1109040 removed after 190 days
November 11, 2011 F1127590 $2,180,000 $0 0%
March 02, 2012 F1127590 $1,998,000 $-182,000 -8%
May 05, 2012 F1127590 removed after 176 days
May 09, 2012 F1212060 $1,880,000 $-300,000 -14%
August 01, 2012 F1212060 removed after 84 days
August 04, 2012 F1220026 $1,780,000 $-400,000 -18%
September 08, 2012 F1220026 $1,688,000 $-492,000 -23%
December 09, 2012 F1220026 removed after 127 days
January 19, 2013 F1301213 $1,588,000 $-592,000 -27%
February 19, 2013 F1301213 $1,498,000 $-682,000 -31%
March 28, 2013 F1301213 $1,398,000 $-782,000 -36%
August 17, 2013 F1301213 removed after 210 days
October 21, 2013 F1324106 $1,888,000 $-292,000 -13%
December 09, 2013 F1324106 $1,788,000 $-392,000 -18%
January 23, 2014 F1324106 $1,688,000 $-492,000 -23%
January 31, 2014 F1324106 removed after 102 days
February 13, 2014 F1403281 $1,688,000 $-492,000 -23%
March 07, 2014 F1403281 $1,588,000 $-592,000 -27%
March 21, 2014 F1403281 $1,488,000 $-692,000 -32%

 

f1403281_1

Current Days on Market: 1788 (4.90years)
Current ‘Official’ Days on Market: 43
2013 Assessment: $1,310,000
2011 Assessment: $1,237,000
Desperation Score: 55.4

Classic custom Georgian brick 5200+ sqft 7 bed 6 bath beauty. Set on full 1/2 acre fully level usable lot ‘true ridge’ location with granite lined stream running across property on prestigious Coulthard Rd. Great private setting. Only thefinest construction & workmanship materials, exotic hardwood, granite & marble throughout. Imported 100% silk drapery floor to ceiling. Hunter Douglas window coverings. Oversized ceilings, double staircase, Gourmet kitchen with additional spice kitchen. 4 Bed up, 3 Bed on lower level with separate entry, pre-wired media in oversized lower level flex room. Mature landscaping with $100K gorgeous Japanese maple. Long term resident at $5825/month. Don’t miss this amazing home and holding property!

Imagine listing a home for 5 years and still not having it sell…

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14 responses to “Weekly Desperation Score Suburbs – March 26, 2014

  1. Catharine March 27, 2014 at 4:11 pm

    Beach Grove Rd. is definitely waterfront. It’s quite nice down there, although a little wet-prone during the “King Tide” season.

    • an observer March 27, 2014 at 4:16 pm

      Every picture I see from that area shows a few puddles and what looks like lots of mud unlike further south on Centennial Parkway where you actually have the water coming up to and you can swim / wade out / jump in a row boat etc – does Beach Grove have the same benefits? I agree the neighbourhood in Beach Grove is very nice but I always dismissed waterfront there as being real waterfront in terms of what I’d expect to be able to do on a waterfront property but maybe I’m wrong?

      • Avril March 27, 2014 at 6:00 pm

        Most of these homes are priced way above what the average person can afford. It would be great to those of us in the under $250.000 range to see the price drops. Any chance Observer?

      • Gus March 27, 2014 at 9:10 pm

        I’m not going to say 250k (this is Vancouver GMA after all), but it would be interesting to see one entry on occasion under 500k (or 600k or 700k). You know, middle-class-2-parents-working kinda deal.

      • an observer March 28, 2014 at 9:06 am

        I’ll tweak the desperation score formula a little. It’s slightly more heavily weighted towards higher priced properties

  2. Skook March 28, 2014 at 8:51 am

    I now have a post about # 2 – 4703 Cameron Rd in my new Sunshine Coast thread, ‘Sunshine Coast Price Drop: How low will they go?’ over at the VancouverPeak.com forum. Yes, Observer, that’s the thread title because I believe “imitation is the sincerest form of flattery”…LOL. And, I do promote VPD at every opportunity!

    In the post, I look at this property and the vacant lots around it that are on the market, too. All are going through significant price drops. Here is the post link:

    http://vancouverpeak.com/showthread.php?tid=5239&pid=6015#pid6015

  3. Skook March 28, 2014 at 9:29 am

    #9 – the decor is not going to help move this home. The kitchen is butt ugly with those “brick-like” tiles.

    #8 – the palace. When I see those hard, shiny floors, I always wonder what happens when the sun shines in. Are you blinded by the reflection and, therefore, have to keep the curtains drawn?

    #7 – the livingroom is in the kitchen, or is it the other way around? Sweet. Half the upper floor is the master bedroom – a area you visit 8 hours/day tops and you’re eyes are closed the whole time. However, in this house you might spend more time in the MB to escape the kitchen. No, not necessary as there is a media room.

  4. Vancouverbound March 28, 2014 at 2:21 pm

    Favor to ask: MLS®: F1314102
    Can you do a price history on this home in Crescent Beach (SW White Rock)?
    : 12246 GARDINER ST
    Surrey, BC V4A 3C4
    From what I know it was a new build then maybe sold around the $1,250,000 mark. Has been on/off for quite some time (years).
    Much thanks.
    PS – this is my favorite blog.

    • Natalie March 29, 2014 at 2:49 pm

      Here you go….
      F1314102 Active $ 1198000 11-Mar-14
      F1314102 Active $ 1249000 26-Nov-13
      F1314102 Active $ 1298000 01-Aug-13
      F1314102 Active $ 1345000 17-Jul-13
      F1314102 Active $ 1390000 11-Jun-13
      F1123177 Sold $ 1255000 01-Dec-11
      F1123177 Expired $ 1299000 15-Nov-11
      F1123177 Active $ 1299000 15-Sep-11
      F1113098 Expired $ 1315000 07-Sep-11
      F1113098 Active $ 1315000 13-Jul-11
      F1113098 Active $ 1349000 20-May-11
      F2816663 Sold $ 1200000 01-Aug-08
      F2816663 Active $ 1299000 26-Jun-08
      F2816663 Active $ 1399900 02-Jun-08
      F2806055 Terminated $ 1399900 27-May-08
      F2806055 Active $ 1399900 23-Apr-08
      F2806055 Active $ 1469000 10-Mar-08
      F2520645 Sold $ 558000 27-Mar-06
      F2520645 Active $ 599000 15-Sep-05

      • Vancouverbound March 31, 2014 at 2:00 pm

        Nicole – thanks for the great work. Evaluating this house – has been a bit of a football being kicked around. The buyer who bought at $1,250,000 December 2011 is now in the hole quite a bit. Nice house but construction is very Yaletown with cement floors and a nautical theme inside. Again thanks for the info.

        OLD HOUSE for sale Sep-05 $599,000
        sold Mar-06 $558,000
        NEW BUILD listed Mar-08 $1,469,000
        sold Aug-08 $1,200,000
        relisted May-11 $1,349,000
        sold Dec-11 $1,250,000
        relisted Jun-13 $1,390,000
        relisted Mar-14 $1,198,000

  5. Avril March 28, 2014 at 5:49 pm

    Gus, your probably looking for a house so not Vancouver but
    $5/6/700.000/ for a house in New West, yes you can, unless one wants to live in the big city. I can’t afford a house and there are lots of apartments in the New Westminster/Tricity area for under $250, many have dropped price over the past couple of yrs. I’d be interested to know what’s happening of recent re price drops. These mansions above can only be afforded by the rich and who cares if they have to drop the asking price. Their probably asking way to much to begin with.

  6. South_Surrey April 24, 2014 at 11:16 am

    #1 is off market, do you know whether it is sold or just taken off market?

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