Vancouver Price Drop

Documenting Vancouver real estate price movements

Weekly Desperation Score Suburbs – May 21, 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

 

#10 ) Address:# 60 6671 121 ST, West Newton, Surrey

June 27, 2009 F2914127 $349,900 $0 0%
August 07, 2009 F2914127 $338,800 $-11,100 -3%
January 28, 2010 F2914127 removed after 215 days
February 11, 2010 F1003750 $349,000 $-900 0%
April 08, 2010 F1003750 $339,000 $-10,900 -3%
June 17, 2010 F1003750 removed after 126 days
January 30, 2013 F1302021 $359,000 $0 0%
April 07, 2013 F1302021 $353,900 $-5,100 -1%
May 30, 2013 F1302021 $349,999 $-9,001 -3%
June 30, 2013 F1302021 removed after 151 days
August 09, 2013 F1318564 $324,900 $-34,100 -9%
October 04, 2013 F1318564 removed after 56 days
October 09, 2013 F1323251 $323,000 $-36,000 -10%
October 18, 2013 F1323251 $318,900 $-40,100 -11%
November 05, 2013 F1323251 $309,000 $-50,000 -14%
November 19, 2013 F1323251 $320,000 $-39,000 -11%
December 02, 2013 F1323251 removed after 54 days
February 08, 2014 F1402897 $329,999 $-29,001 -8%
May 01, 2014 F1402897 removed after 82 days
May 22, 2014 F1412232 $314,900 $-44,100 -12%

 

f1412232_1

Current Days on Market: 478 (1.31years)
Current ‘Official’ Days on Market: 1
2013 Assessment: $310,000
2011 Assessment: $315,000
Desperation Score: 30.3

SALUS!! Welcome to this award winning signature development by ADERA! This charming 3 storey home features a formal dining and living space with a fireplace, kitchen featuring GRANITE counter tops and STAINLESS STEEL appliances. Upstairs include 3 bedrooms including a spacious master bedroom with ensuite. The complex boasts of state of the art clubhouse featuring SWIMMING POOL, GYM, SAUNA AND STEAM SHOWER AND 3,500 SQ FT OF ROOF TOP DECK!! The complex is centrally located close to all amenities and transit. Call today for a private viewing!


#9 ) Address:# 2 1552 EVERALL ST, White Rock, White Rock

April 04, 2008 F2808820 $355,000 $0 0%
June 12, 2008 F2808820 $348,500 $-6,500 -2%
July 30, 2008 F2808820 removed after 117 days
June 10, 2011 F1114942 $397,500 $0 0%
July 01, 2011 F1114942 $389,900 $-7,600 -2%
July 27, 2011 F1114942 $384,900 $-12,600 -3%
August 29, 2011 F1114942 removed after 80 days
August 31, 2011 F1121892 $384,900 $-12,600 -3%
September 29, 2011 F1121892 $379,900 $-17,600 -4%
October 25, 2011 F1121892 removed after 55 days
October 26, 2011 F1126431 $375,000 $-22,500 -6%
January 06, 2012 F1126431 $365,000 $-32,500 -8%
February 01, 2012 F1126431 $358,000 $-39,500 -10%
February 16, 2012 F1126431 removed after 113 days
September 08, 2012 F1222096 $379,900 $-17,600 -4%
September 21, 2012 F1222096 $369,000 $-28,500 -7%
October 23, 2012 F1222096 $355,000 $-42,500 -11%
December 01, 2012 F1222096 removed after 84 days
February 03, 2014 F1402219 $349,900 $-47,600 -12%
March 10, 2014 F1402219 $330,000 $-67,500 -17%
April 09, 2014 F1402219 removed after 65 days
April 14, 2014 F1408509 $319,000 $-78,500 -20%
April 23, 2014 F1408509 $310,000 $-87,500 -22%
May 01, 2014 F1408509 $305,000 $-92,500 -23%
May 22, 2014 F1408509 $299,000 $-98,500 -25%

 

f1408509_1

Current Days on Market: 109 (0.30years)
Current ‘Official’ Days on Market: 39
2013 Assessment: $302,000
2011 Assessment: $333,000
Desperation Score: 30.4

Welcome to Everall Court! Gorgeous 2 bed plus den 2 bath over 1200 square feet of amazing floor plan ground floor corner suite with 3 private enterances with south exposed quiet, private and tranquil outdoor livign space with picturesque gardens. Building offers peace of mind with parital rainscreen, newer windows, roof and fence. Conveniently located close to amenities, recreaction, shopping, restuarants, and tranist. Priced to sell! Call today tomorrow could be too late! * PREC – Personal Real Estate Corporation


#8 ) Address:# 223 13958 108 AV, Whalley, North Surrey

August 29, 2012 F1221718 $439,000 $0 0%
September 25, 2012 F1221718 removed after 27 days
January 16, 2014 F1400446 $298,900 $-140,100 -32%
February 10, 2014 F1400446 $289,900 $-149,100 -34%
March 11, 2014 F1400446 $281,900 $-157,100 -36%
April 09, 2014 F1400446 removed after 83 days
April 21, 2014 F1409158 $275,900 $-163,100 -37%
May 22, 2014 F1409158 $269,900 $-169,100 -39%

 

f1409158_1

Current Days on Market: 127 (0.35years)
Current ‘Official’ Days on Market: 32
2013 Assessment: $304,000
2011 Assessment: $310,000
Desperation Score: 31.5

4 year young 3 bedroom, 3 bath 2-storey townhouse close to all amenities, sky-train, both schools, SFU Surrey campus, and new Surrey City Hall. Located on quiet side of the complex with North facing front patio, living/dining, kitchen with granite counters, family room and a powder room, and a balcony facing park on main floor, one master bedroom with full en-suite, 2 other bedrooms and a full bath on top floor, gated underground parking. Priced much below City assessment.


#7 ) 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%
April 07, 2014 V1035435 $1,913,000 $-1,387,000 -42%
May 06, 2014 V1035435 removed after 176 days
May 15, 2014 V1064173 $1,899,000 $-1,401,000 -42%

 

v1064173_1

Current Days on Market: 603 (1.65years)
Current ‘Official’ Days on Market: 8
2013 Assessment: $2,241,000
Desperation Score: 31.9

FORECLOSURE: Elegant and private Anmore Estate, over 7000 sq ft luxury residence perched on a 1.48 acre mountainside estate. Property backing onto greenbelt with spectacular view of mountains. This stunning home boasts 28′ high dome ceilings, grand central staircase and marble floor entry. Hardwood flooring, coffered ceiling, hemlock wood casing windows and built-in sound system throughout. Gourmet kitchen with stone counter and island, stainless steel appliances & wok kitchen. Master bedroom on main, ensuite with jacuzzi and steam shower. 3 bedrooms up all with walk-in closets, ensuites and skylights. Huge recreation room & wine room in basement plus a luxurious 1 bedroom suite with separate entrance & private patio.


#6 ) Address:# 40 31406 UPPER MACLURE RD, Abbotsford West, Abbotsford

June 12, 2009 F2912817 $259,900 $0 0%
July 17, 2009 F2912817 $251,900 $-8,000 -3%
August 06, 2009 F2912817 $244,900 $-15,000 -6%
September 28, 2009 F2912817 removed after 108 days
October 23, 2012 F1225832 $278,900 $0 0%
December 31, 2012 F1225832 removed after 69 days
May 28, 2013 F1312605 $254,900 $-24,000 -9%
June 26, 2013 F1312605 $244,900 $-34,000 -12%
September 30, 2013 F1312605 removed after 125 days
February 24, 2014 F1404338 $204,900 $-74,000 -27%
April 14, 2014 F1404338 $194,900 $-84,000 -30%
May 16, 2014 F1404338 $184,900 $-94,000 -34%

 

f1404338_1

Current Days on Market: 577 (1.58years)
Current ‘Official’ Days on Market: 88
2013 Assessment: $259,700
Desperation Score: 32.4

Very spacious upper floor townhouse. Features living room and family room with gas fireplace. Large kitchen area. Open and bright with lots of southern exposure. Great location in the complex. 2 Bedrooms. Master bedroom with 4 piece ensuite. Single car garage. Extra parking space available for $15.00 per month. Central location. * PREC – Personal Real Estate Corporation


#5 ) Address:19691 68TH AV, Willoughby Heights, Langley

October 08, 2008 F2829102 $699,000 $0 0%
November 20, 2008 F2829102 $659,000 $-40,000 -6%
December 10, 2008 F2829102 $598,000 $-101,000 -14%
December 12, 2008 F2829102 removed after 65 days
August 25, 2012 F1221489 $725,000 $0 0%
December 27, 2012 F1221489 removed after 124 days
August 17, 2013 F1319295 $679,000 $-46,000 -6%
August 29, 2013 F1319295 $649,000 $-76,000 -10%
September 18, 2013 F1319295 $639,000 $-86,000 -12%
October 11, 2013 F1319295 $619,000 $-106,000 -15%
November 11, 2013 F1319295 $599,000 $-126,000 -17%
November 29, 2013 F1319295 $569,000 $-156,000 -22%
February 08, 2014 F1319295 removed after 175 days
May 04, 2014 F1410619 $589,000 $-136,000 -19%
May 22, 2014 F1410619 $559,000 $-166,000 -23%

 

f1410619_1

Current Days on Market: 279 (0.76years)
Current ‘Official’ Days on Market: 19
2013 Assessment: $635,000
Desperation Score: 33.5

Court ordered sale. Savvy investors and do-it-yourselfers – don’t pass this up! TLC needed to restore this executive home with solid bones and central location. Close to Willowbrook shopping and Langley amenities. Call today to view!


#4 ) Address:12827 GULFVIEW RD, Pender Harbour, Sunshine Coast

March 09, 2012 V891348 $349,000 $0 0%
October 23, 2012 V891348 removed after 228 days
December 09, 2013 V1038159 $249,900 $-99,100 -28%
January 16, 2014 V1038159 $229,000 $-120,000 -34%
February 12, 2014 V1038159 $223,900 $-125,100 -36%
March 27, 2014 V1038159 $219,000 $-130,000 -37%
May 22, 2014 V1038159 $199,900 $-149,100 -43%

 

v1038159_1

Current Days on Market: 165 (0.45years)
Current ‘Official’ Days on Market: 165
2013 Assessment: $265,600
Desperation Score: 34.2

FORECLOSURE, BELOW ASSESSED VALUE! This 3 bedroom family home sits on a large almost 1/2 acre fully treed lot within a quiet cul-de-sac just minutes from Madeira Park. There are ocean and harbour views which could be improved with limbing. This home has special features including a metal roof, and a wood burning stove as secondary heat for those colder winter nights. Pender Harbour is a mecca for ocean and lake sports, hiking, as well as the community hosts many events including boat building, Blues Festival, Chamber Music, Mushroom and Garlic Festivals and much more. This is a destination resort community that you will enjoy.


#3 ) Address:# 8W 20837 LOUIE CR, Walnut Grove, Langley

June 28, 2012 F1216718 $199,000 $0 0%
August 23, 2012 F1216718 $180,000 $-19,000 -10%
November 19, 2012 F1216718 removed after 144 days
March 14, 2014 F1405848 $49,900 $-149,100 -75%
May 22, 2014 F1405848 $40,000 $-159,000 -80%

 

f1405848_1

Current Days on Market: 70 (0.19years)
Current ‘Official’ Days on Market: 70
2013 Assessment: Unknown
Desperation Score: 34.7

Opportunity to pick up a fixer upper float home with good bones & provenance. Former home of Angus MacGyver, secret agent, TV series. Property is being sold as is where is. Flotation needs redoing and some interior work. Moorage $825 per month. Perfect opportunity for the handy guy.


#2 ) Address:10897 RIVER RD, Nordel, North Delta

May 01, 2012 F1211097 $1,695,000 $0 0%
July 23, 2013 F1211097 $1,295,000 $-400,000 -24%
October 09, 2013 F1211097 removed after 526 days
October 21, 2013 F1323986 $950,000 $-745,000 -44%
May 14, 2014 F1323986 removed after 205 days
May 19, 2014 F1412311 $695,000 $-1,000,000 -59%

 

f1412311_1

Current Days on Market: 752 (2.06years)
Current ‘Official’ Days on Market: 4
2013 Assessment: $900,000
Desperation Score: 35.5

Own your own park! This is a very unique property – 9.02 acres zoned single family residential (RS-1). Property has its own creek, forest and pathway to the Fraser River! Easiest and most likely development possibility is construction of one large single family home. Current zoning permits up to 3,552 sq.ft. plus basement, and secondary suite permitted. Lots of additional room for outbuildings (barns, workshop, garage), plus all kinds of room for vehicle parking. Recent environmental and geo-technical reports available. Subdivision would be very difficult but not impossible. Road access from Collings Way, all services nearby. Property tax assessed value under appeal.


#1 ) Address:1313 HOLLYBROOK ST, Burke Mountain, Coquitlam

April 27, 2013 V1003543 $439,000 $0 0%
April 29, 2013 V1003543 removed after 2 days
January 16, 2014 V1041483 $1,149,900 $0 0%
January 19, 2014 V1041483 $1,075,000 $-74,900 -7%
March 14, 2014 V1041483 $1,049,900 $-100,000 -9%
March 20, 2014 V1041483 $999,000 $-150,900 -13%
March 25, 2014 V1041483 removed after 68 days
March 27, 2014 V1054596 $900,000 $-249,900 -22%
April 02, 2014 V1054596 $999,000 $-150,900 -13%
May 14, 2014 V1054596 $975,000 $-174,900 -15%
May 16, 2014 V1054596 $950,000 $-199,900 -17%

 

v1054596_1

Current Days on Market: 127 (0.35years)
Current ‘Official’ Days on Market: 57
2013 Assessment: $770,000
Desperation Score: 39.5

Magnificent residence w/exquisite DESIGNER taste in prestigious Burke Mountain in a quiet neibourhood Features of this incredible home include huge windows, open modern & stunning. Formal Great room with 20ft high ceiling and elegant fireplace looking onto greenbelt. Huge Dining Room w/French doors opens to balcony overlooking fenced backyard. Modern Kitchen w/huge Island and large entertaining area. Upstairs FOUR Bedrooms. THREE full bathrooms. A huge Master Bedroom w/loft ceiling, jetted tub, separate shower, his & her closet. Lower level w/large Storage & a bright walkout large legal two bedroom legal suite w/ separate entrance & patio & Laundr

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9 responses to “Weekly Desperation Score Suburbs – May 21, 2014

  1. bailinginbc May 22, 2014 at 8:15 pm

    30% foreclosure or court ordered (could be more)

  2. South_Surrey May 22, 2014 at 8:22 pm

    Only condos in Surrey/White Rock 😦 Looking forward for some interesting deal for a house in that area.

  3. Canadiancondom.com May 22, 2014 at 9:37 pm

    Yes. . A lot of foreclosures! !

  4. Gus May 22, 2014 at 11:14 pm

    Just curious, why is #1 so high? It seems to have dropped 17% in a bit less than half a year, which is substantial but not crazy like #2 (and some others).

    • an observer May 23, 2014 at 7:15 am

      The formula is date adjusted so #1 with 6 price drops and 1 price increase in just 5 months is very high. #2 has had some big drops but they have been stretched out over a much longer time frame

  5. chingon_15 May 24, 2014 at 9:34 pm

    For number 1. The 439k was for the lot. Than priced accordingly with a new build. The assessment was done prior to the house being complete. I believe they dropped it to 900k without GST and than raised it to 999 with GST included. I could be wrong, that’s my best guess. Similar homes in the area that we have seen sold for low 900’s.

  6. chingon_15 May 24, 2014 at 9:36 pm

    Sorry to add, when I say priced accordingly, I still mean crazy high lol. It should have been priced in the mid 900’s to start.

  7. cash In hand May 27, 2014 at 8:16 am

    Is it possible to have list of top 10 below assessed value ? price drop is great giving prospective how delusional sellers are with their list price … But list of top 10 listed below assessed will tell the true market condition…

    Thanks for great blog..

    • an observer May 27, 2014 at 10:03 pm

      outliers compared to assessment will just show listings that have assessments that are not updated to include recent developments like new builds / zoning changes etc

      Also, it isn’t really possible to do this because I have to manually lookup each assessment. To make a list based on that would mean looking up the assessment of every home!

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