Vancouver Price Drop

Documenting Vancouver real estate price movements

Weekly Desperation Score Suburbs – April 23, 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, Coquitlam and Mission all with 2 entries in the list


#10 ) Address:# 105 601 NORTH RD, Coquitlam West, Coquitlam

August 05, 2013 V1020709 $174,900 $0 0%
November 03, 2013 V1020709 $169,000 $-5,900 -3%
December 02, 2013 V1020709 removed after 119 days
December 09, 2013 V1038423 $158,220 $-16,680 -10%
March 11, 2014 V1038423 $149,900 $-25,000 -14%
March 26, 2014 V1038423 $145,900 $-29,000 -17%
April 23, 2014 V1038423 $138,000 $-36,900 -21%

 

v1038423_1

Current Days on Market: 262 (0.72years)
Current ‘Official’ Days on Market: 136
2013 Assessment: $141,600
Desperation Score: 31.0

WHY PAY RENT?! Own with 5% down and less than $1000 per month (Includes: principle, interest, taxes and strata!!) Sell your car and walk to Skytrain, Lougheed Mall and Groceries! Very Clean 1 bedroom ground floor condo with a private patio.roof in 2007, piping & boiler in 2003 and new exterior paint 2013. Trouble free building!


#9 ) 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%
April 17, 2014 V1045968 removed after 68 days
April 21, 2014 V1059348 $1,269,000 $-130,000 -9%

 

v1059348_1

Current Days on Market: 213 (0.58years)
Current ‘Official’ Days on Market: 3
2013 Assessment: $1,247,000
Desperation Score: 32.0

Must Sell!! Don’t miss this great opportunity to own in this amazing neighbourhood of Hampton Green. Home is over 5000sq ft enter thru the lovely foyer with the dble spiral staircase, continue to the room & dining room & then the amazingoversized kitchen for the cooks out there & family room, 4 bedrooms up & a 2 bedroom bsmt suite down. Enjoy the backyard private backyard with manicured lawn & serene pond backs on greenbelt. Open house April 19, 2-4pm . To view or book private showing ctc Diana 6045126205


#8 ) Address:# 207 1969 WESTMINSTER AV, Glenwood, Port Coquitlam

August 23, 2008 V729487 $319,340 $0 0%
December 17, 2008 V729487 removed after 116 days
November 03, 2013 V1034278 $239,200 $-80,140 -25%
January 04, 2014 V1034278 $229,000 $-90,340 -28%
January 28, 2014 V1034278 $219,000 $-100,340 -31%
February 27, 2014 V1034278 $209,000 $-110,340 -35%
April 17, 2014 V1034278 $199,000 $-120,340 -38%

 

v1034278_1

Current Days on Market: 172 (0.47years)
Current ‘Official’ Days on Market: 172
2013 Assessment: $252,600
Desperation Score: 32.5

Large 1 bedroom and den unit with 819 sq. ft. Cheater ensuite through the walk-in closet. Laminate flooring, granite countertops, undermount sink and more. 2 large rooftop decks for enjoyment. Common amenity room on the lobby level. Close to shopping, West Coast Express and all other amenities. Easy to show ……


#7 ) Address:32570 DEWDNEY TRUNK RD, Mission BC, Mission

May 02, 2008 F2812861 $649,000 $0 0%
May 23, 2008 F2812861 $629,000 $-20,000 -3%
June 20, 2008 F2812861 $595,000 $-54,000 -8%
July 24, 2008 F2812861 $549,000 $-100,000 -15%
October 25, 2008 F2812861 $529,000 $-120,000 -18%
February 06, 2009 F2812861 $519,000 $-130,000 -20%
March 11, 2009 F2812861 removed after 313 days
May 05, 2009 F2909120 $519,000 $-130,000 -20%
November 12, 2009 F2909120 removed after 191 days
July 21, 2010 F1019889 $514,900 $-134,100 -21%
September 22, 2010 F1019889 $499,500 $-149,500 -23%
November 18, 2010 F1019889 removed after 120 days
July 13, 2011 F1117654 $549,000 $-100,000 -15%
July 06, 2012 F1117654 removed after 359 days
August 05, 2013 F1318464 $479,000 $-170,000 -26%
October 30, 2013 F1318464 removed after 86 days
November 23, 2013 F1325881 $449,700 $-199,300 -31%
February 25, 2014 F1325881 removed after 94 days
February 27, 2014 F1404620 $437,000 $-212,000 -33%
February 28, 2014 F1404620 $419,000 $-230,000 -35%
April 17, 2014 F1404620 $369,000 $-280,000 -43%

 

f1404620_1

Current Days on Market: 262 (0.72years)
Current ‘Official’ Days on Market: 56
2013 Assessment: $473,000
Desperation Score: 34.2

“Neighborhood Commercial Zoning”. 1.15 Acres the original Cedar Valley lumberyard. Massive warehouse style shops with over 6000 sq.ft. including mezzanine area. Great for autobody, mechanics, welding or ?? On City water, natural gas, 200 amp service in shops. Older solid character home plus a studio apartment over the shop. Parking for 30 vehicles. 1000 sq.ft house, 1000 sq.ft. apt + 6000 sq.ft. shops. Loads of $monthly rent. A rear find, tons of potential. Court ordered sale!


#6 ) Address:1516 BEACH GROVE RD, Beach Grove, Tsawwassen

June 26, 2008 V718754 $1,385,000 $0 0%
November 21, 2008 V718754 removed after 148 days
July 01, 2009 V774551 $1,225,000 $-160,000 -12%
August 29, 2009 V774551 $1,199,000 $-186,000 -13%
September 25, 2009 V774551 $999,000 $-386,000 -28%
October 27, 2009 V774551 removed after 118 days
August 22, 2013 V1023277 $2,098,800 $0 0%
September 14, 2013 V1023277 $1,998,800 $-100,000 -5%
October 18, 2013 V1023277 $1,980,000 $-118,800 -6%
December 09, 2013 V1023277 removed after 109 days
December 21, 2013 V1039255 $1,980,000 $-118,800 -6%
January 27, 2014 V1039255 $1,898,888 $-199,912 -10%
March 05, 2014 V1039255 $1,829,000 $-269,800 -13%
March 13, 2014 V1039255 $1,795,000 $-303,800 -14%
March 31, 2014 V1039255 removed after 100 days
April 07, 2014 V1056208 $1,773,000 $-325,800 -16%
April 23, 2014 V1056208 $1,737,000 $-361,800 -17%

 

v1056208_1

Current Days on Market: 245 (0.67years)
Current ‘Official’ Days on Market: 17
2013 Assessment: $1,335,000
2011 Assessment: $1,256,000
Desperation Score: 34.6

Being featured on “Love it or List it” April 2014. Selling below appraisal value. Elegant and stunning waterfront house designed by award winning architect Rod McFarlane. Significantly rebuilt 3 years ago! Marble flooring, engineered kitchen, stainless appliances, open-plan! Crystal chandeliers, solid wood windows (Windsor) metal accent roof, bathrooms include shower/steam room, soaker tub, Jacuzzi, granite/marble. Master suite has vaulted ceilings and private balcony overlooking the best ocean view around! 2 car detached garage plus BONUS office! Wine room. Sit in your private yard overlooking Mt. Baker! Built by Prizeman Construction Solutions Inc. All rooms now finished! You must see to believe.


#5 ) 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%
February 28, 2014 F1401056 removed after 42 days
April 07, 2014 F1407891 $175,000 $-44,900 -20%
April 15, 2014 F1407891 removed after 8 days
April 21, 2014 F1409393 $175,000 $-44,900 -20%

 

f1409393_1

Current Days on Market: 189 (0.52years)
Current ‘Official’ Days on Market: 3
2013 Assessment: $166,900
Desperation Score: 35.9

HOLY COW! Can you believe that for this low price you can own this gorgeous 3 bedroom, 2 bathroom almost fully updated condo, in a building which has a newer roof and just had some deck remediation done too! With $8,700 down, your $800 mortgage payment makes this cheaper than rent! So many upgrades including stainless appliances, refreshed countertops, new hardware & lighting in the kitchen; newer laminate and carpet throughout, crown mouldings, baseboards and new lighting throughout. So many updates! The high efficiency gas fireplace heats the whole condo. CORNER UNIT provides extra quiet & privacy, and your patio looks towards a treed area and a brook. HUGE in-suite storage & locker, no closet in kids room. NO RENTALS, 2 PET


#4 ) 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%
March 07, 2014 F1402814 $214,000 $-135,500 -39%
April 10, 2014 F1402814 $205,000 $-144,500 -41%
April 23, 2014 F1402814 $199,000 $-150,500 -43%

 

f1402814_1

Current Days on Market: 896 (2.45years)
Current ‘Official’ Days on Market: 75
2013 Assessment: $248,000
2011 Assessment: $251,000
Desperation Score: 37.0

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


#3 ) 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%
April 17, 2014 F1404652 removed after 49 days
April 21, 2014 F1409466 $341,300 $-247,700 -42%

 

f1409466_1

Current Days on Market: 431 (1.18years)
Current ‘Official’ Days on Market: 3
2013 Assessment: $494,000
Desperation Score: 38.2

Diamond in the Rough. Great location! Situated high on the hill in the desirable Hatzic Bench area. 3 bedrooms up, unauthorized suite down. Easy to show!


#2 ) Address:3233 136A ST, Elgin Chantrell, White Rock

October 18, 2010 F1013938 $995,000 $0 0%
March 01, 2011 F1013938 removed after 134 days
April 22, 2013 F1309384 $4,288,000 $0 0%
April 24, 2013 F1309384 removed after 2 days
May 01, 2013 F1310078 $4,288,000 $0 0%
July 25, 2013 F1310078 $3,988,000 $-300,000 -7%
August 14, 2013 F1310078 removed after 105 days
September 12, 2013 F1321186 $3,988,000 $-300,000 -7%
October 17, 2013 F1321186 $3,788,000 $-500,000 -12%
November 11, 2013 F1321186 removed after 60 days
January 22, 2014 F1401338 $3,788,000 $-500,000 -12%
February 05, 2014 F1401338 $3,688,000 $-600,000 -14%
March 14, 2014 F1401338 removed after 51 days
March 28, 2014 F1407130 $3,498,000 $-790,000 -18%
April 23, 2014 F1407130 $3,188,000 $-1,100,000 -26%

 

f1407130_1

Current Days on Market: 367 (1.01years)
Current ‘Official’ Days on Market: 27
2013 Assessment: $3,387,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 40.4

In a word…. STUNNING. Sprawling 38,000 sqft French Country gated estate in prestigious Bayview Estates. Custom built by master craftsman, Frank Fletcher, the quality and meticulous attention to detail is evident throughout. Extensive wainscotting, crown and stone work, imported tiles and rare woods – no expense has been spared. 6 bedrooms/7 baths, 8478 sqft of luxury. The dream kitchen is the epicurean center of the home; top of the line SubZero & Thermador appliances, massive granite island and large breakfast room with a panoramic view over the yard. Great Room dazzles with 14′ barrel ceiling, elegant lighting, towering stone fireplace and custom built-ins. Large entertainment patio with gas fireplace and built-in barbeque. The Master incl ensuite with lavish use of marble, roman jetted tub and large his & hers WI closets. Home theater, gym, games room, wine cellar & full bar. Rare 1600 sqft, 7 car garage with overheight door for boat or RV. This home must be seen to be appreciated.


#1 ) Address:975 FRASER AV, Hope Center, Hope and Region

May 22, 2013 H1302081 $119,900 $0 0%
August 17, 2013 H1302081 $98,900 $-21,000 -18%
November 15, 2013 H1302081 $84,900 $-35,000 -29%
November 23, 2013 H1302081 removed after 185 days
March 21, 2014 H1401049 $127,500 $0 0%
April 14, 2014 H1401049 $115,500 $-12,000 -9%
April 23, 2014 H1401049 $99,500 $-28,000 -22%

 

h1401049_1

Current Days on Market: 337 (0.92years)
Current ‘Official’ Days on Market: 34
2013 Assessment: $120,900
Desperation Score: 42.2

What a deal on this rancher with full separate entry basement. Great opportunity to build some sweat equity. Perfect for a first time buyer or anyone looking to do a little work. 2 Large bedrooms on the main and a full bathroom. Full unfinished basement could easily be made into 2 more bedrooms and a recroom or keep as a workshop. Good size lot. Call for details.

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10 responses to “Weekly Desperation Score Suburbs – April 23, 2014

  1. RFM April 23, 2014 at 6:01 pm

    #10: Empty old dump; “Why Pay Rent?”; because it makes more sense than to own this! Below assessment.

    #9: “Must Sell!” but still above assessment.

    #8: Empty; below assessment.

    #7: Empty old commercial site; ‘parking for 30 cars!’; below assessment

    #6: Empty (staged) but above assessment.

    #5: Another old dump; yeh, raise the price $40K after dropping it 11 times! Way to go!

    #4: “Must Sell!”; Empty; below assessment

    #3: Empty old dump; below assessment.

    #2: Empty after 2 years, brand new McMansion; now below assessment. Bet this ‘developer’ is sweating!

    #1: Old dump below assessment.

    I see a trend being confirmed in the suburbs – get out now!

    • Exurban April 24, 2014 at 10:39 pm

      I see for #9 that from January to February they dropped the price by $200. Yes, two hundred dollars. Didn’t attract any bargain hunters.

      BTW, #4 has been on here before. It’s tiny, 515 sq ft if I recall correctly. Places like that, which are essentially competing with hotel rooms, are of interest mainly to speculators/investors. Doesn’t look like any of those are interested right now.

  2. Real Estate Tsunami April 23, 2014 at 6:07 pm

    #5
    holy cow!
    advice to realtors: never put lemons in a fruit bowl at a showing.

  3. Spiltbongwater April 23, 2014 at 8:06 pm

    Disappointed to see the lack of snark.

  4. Alexcanuck April 23, 2014 at 9:12 pm

    #6
    Being featured on “Love it or List it” April 2014. Selling below appraisal value.
    And
    All rooms now finished!

    So does Love It or List It do a follow-up when it finally does sell after a couple more price drops? As in show a realistic picture of what the house-flipping career can end up like?

    (Do I hear crickets?)

  5. South_Surrey April 23, 2014 at 9:55 pm

    Thanks observer for the great effort for providing insight into some of the interesting properties. I wish suburbs listing also have attached and detached in separate posts as South Surrey, White Rock always end up having condos.

  6. chingon_15 April 24, 2014 at 6:53 am

    Agree with South_Surrey. Would love to see attached and detached separated for the burbs. Additionally, any chance we do spotlights again? Love to see some of the closer burb areas get more love i.e. New West, Port Moody, Coquitlam etc.

  7. South_Surrey April 24, 2014 at 11:20 am

    #1 in the March 26 suburbs listing is off market, does anyone know if it is sold or just taken off to relist at a cheaper price 🙂
    https://vancouverpricedrop.wordpress.com/2014/03/27/weekly-desperation-score-suburbs-march-26-2014/

  8. happyrenter April 26, 2014 at 10:21 am

    No 1. Build up some sweat equity……hmmm perhaps not

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