Vancouver Price Drop

Documenting Vancouver real estate price movements

Spotlight Burnaby – June 18, 2014

Over the next couple of weeks I’ll try to do all of the spotlights going through each city and showing the top 10 properties based on the desperation formula.  Likely no red comments and no assessment data since those are both pretty time consuming but feel free to contribute your thoughts in the comments section

 


#10 ) Address:5188 FRANCES ST, Capitol Hill, Burnaby

January 30, 2013 V987735 $1,898,800 $0 0%
April 26, 2013 V987735 removed after 86 days
April 29, 2013 V1003927 $1,898,800 $0 0%
May 01, 2013 V1003927 $1,799,999 $-98,801 -5%
June 04, 2013 V1003927 removed after 36 days
June 07, 2013 V1011451 $1,699,999 $-198,801 -10%
July 13, 2013 V1011451 removed after 36 days
July 18, 2013 V1018185 $1,699,000 $-199,800 -11%
July 20, 2013 V1018185 removed after 2 days
July 25, 2013 V1019101 $1,698,800 $-200,000 -11%
September 14, 2013 V1019101 $1,585,000 $-313,800 -17%
October 21, 2013 V1019101 removed after 88 days
October 23, 2013 V1032998 $1,585,000 $-313,800 -17%
April 25, 2014 V1032998 removed after 184 days
June 06, 2014 V1068653 $1,628,000 $-270,800 -14%

 

v1068653_1

Current Days on Market: 506 (1.39years)
Current ‘Official’ Days on Market: 14
Desperation Score: 25.8

Very reasonable price for 4400 SF high end smart house in the most prime area of Burnaby North, Unique architect design, 8 bedroom, 7 washroom, central air conditioned, wok kitchen, engineered H/W flr, engineered stone countertops, Bone maple kitchen, 5 security cameras. Loads of mouldings , pot lights. Upstairs all washroom are attached. Potential 2 suites (2&1 bedroom) with big media room with 2 pc toilet. HIGH END FINISHING THROUGHOUT THE HOUSE. HOUSE IS MORE BEAUTIFUL INSIDE THEN OUTSIDE. OPEN HOUSE, EVERY SAT & SUN, 2-4PM.


#9 ) Address:# 202 5335 HASTINGS ST, Capitol Hill, Burnaby

February 21, 2013 V991694 $285,000 $0 0%
February 28, 2013 V991694 $279,900 $-5,100 -2%
May 12, 2013 V991694 removed after 80 days
August 01, 2013 V1020278 $279,000 $-6,000 -2%
September 28, 2013 V1020278 removed after 58 days
November 07, 2013 V1034633 $264,900 $-20,100 -7%
November 27, 2013 V1034633 $259,000 $-26,000 -9%
January 17, 2014 V1034633 removed after 71 days
January 19, 2014 V1042518 $254,900 $-30,100 -11%
February 21, 2014 V1042518 $249,900 $-35,100 -12%
May 02, 2014 V1042518 removed after 103 days
May 08, 2014 V1062546 $239,900 $-45,100 -16%

 

v1062546_1

Current Days on Market: 484 (1.33years)
Current ‘Official’ Days on Market: 43
Desperation Score: 26.8

ON THE QUIET SIDE OF THE BUILDING, 2 BEDROOM CORNER UNIT FACING NORTH & WEST. FEATURES, INSUITE LAUNDRY, SEMI-ENSUITE, ALL CERAMIC TILES & LAMINATED FLOORS, U SHAPED KITCHEN WITH WINDOWS, COZY WOODBURNING FIREPLACE, PATIO OVERLOOKING THE QUIET COMMON AREA COURTYARD AND VERY BRIGHT WITH LOTS OF WINDOWS ALL AROUND. WELL LOOKED AFTER BUILDING WITH NEW PLUMBING IN 2011 AND ONLY A SHORT WALK TO SHOPS, SCHOOL, TRANSPORTATION & CONFEDERATION COMMUNITY CENTRE.


#8 ) Address:7426 BURRIS ST, Buckingham Heights, Burnaby

September 20, 2012 V972373 $2,990,000 $0 0%
February 07, 2013 V972373 removed after 140 days
May 25, 2013 V1009037 $1,999,000 $-991,000 -33%
July 10, 2013 V1009037 $1,888,000 $-1,102,000 -37%
November 29, 2013 V1009037 removed after 188 days
March 24, 2014 V1053726 $1,988,000 $-1,002,000 -34%
April 23, 2014 V1053726 $1,888,000 $-1,102,000 -37%
May 28, 2014 V1053726 $1,788,000 $-1,202,000 -40%

 

v1053726_1

Current Days on Market: 638 (1.75years)
Current ‘Official’ Days on Market: 88
Desperation Score: 27.4

STOP! An incredible value in prestigious Buckingham Heights! You must see this gorgeous home completely renovated with style in 2008. Located on the exclusively part of Burris St on the high side with view of mountains! You will be captivated by the European style entry & Dining room! Features include granite floors & pillars, Brazilian redwood, sandstone arches, slate bathrooms & walls, double river rock fireplace & much more! Huge parking lot with gates & 2 car garage. Huge waterfall with potential hot tub function & stone pillared gazebo with glass top for you to have a relaxing time with family or friends! Minutes drive to Metrotown & SFU. Perfect for growing family! HURRY! School Catchments: Buckingham Elementary & Burnaby Central Secondary.


#7 ) Address:5621 CAPITOL DR, Capitol Hill, Burnaby

February 10, 2011 V868267 $599,900 $0 0%
March 19, 2011 V868267 $589,000 $-10,900 -2%
May 05, 2011 V868267 removed after 84 days
November 11, 2013 V1035163 $1,328,000 $0 0%
January 04, 2014 V1035163 $1,298,000 $-30,000 -2%
February 28, 2014 V1035163 removed after 109 days
March 13, 2014 V1051953 $1,258,000 $-70,000 -5%
April 14, 2014 V1051953 $1,198,000 $-130,000 -10%
May 19, 2014 V1051953 $1,168,000 $-160,000 -12%
June 04, 2014 V1051953 removed after 83 days
June 16, 2014 V1070080 $1,128,000 $-200,000 -15%

 

v1070080_1

Current Days on Market: 221 (0.61years)
Current ‘Official’ Days on Market: 4
Desperation Score: 28.0

Full Exposure to the South View of Burnaby. 1-year old premium quality house included GST. Walk to good elementary & secondary school, Capitol Hill Elem & Burnaby North Sec. Can live in with additional 3 potential rental units. Top Choice for living, mortgage helper and investment. OPEN HOUSE, Sat & Sun, June 14 & 15, 1 – 4 PM


#6 ) Address:# 807 4888 BRENTWOOD DR, Brentwood Park, Burnaby

June 13, 2013 V1011893 $459,000 $0 0%
August 22, 2013 V1011893 $454,000 $-5,000 -1%
September 07, 2013 V1011893 $445,000 $-14,000 -3%
September 30, 2013 V1011893 removed after 109 days
October 11, 2013 V1031276 $439,000 $-20,000 -4%
October 23, 2013 V1031276 $429,900 $-29,100 -6%
December 13, 2013 V1031276 $424,000 $-35,000 -8%
December 28, 2013 V1031276 removed after 78 days
January 16, 2014 V1041795 $415,000 $-44,000 -10%
February 21, 2014 V1041795 $439,000 $-20,000 -4%
May 06, 2014 V1041795 removed after 110 days
May 10, 2014 V1063134 $428,900 $-30,100 -7%
June 18, 2014 V1063134 $415,900 $-43,100 -9%

 

v1063134_1

Current Days on Market: 372 (1.02years)
Current ‘Official’ Days on Market: 41
Desperation Score: 29.9

Court order sale, 2 bedroom, 2 bath corner unit, south east facing, open floor plan, granite countertops, great view, call today to view OPEN HOUSE: SUNDAY, MAY 11TH 2-4PM.


#5 ) Address:7156 BROADWAY, Montecito, Burnaby

September 23, 2013 V1028544 $2,798,000 $0 0%
January 22, 2014 V1028544 $2,298,000 $-500,000 -18%
April 14, 2014 V1028544 removed after 203 days
April 28, 2014 V1060296 $2,368,000 $-430,000 -15%
May 14, 2014 V1060296 removed after 16 days
May 19, 2014 V1064813 $1,888,000 $-910,000 -33%

 

v1064813_1

Current Days on Market: 270 (0.74years)
Current ‘Official’ Days on Market: 32
Desperation Score: 30.2

Come view this Stunning Dream Home, 7209 sqft, 3 Level Custom Built Family Home, over $550,000., in upgrades in the past 4 years. Major Upgrades, Include New Tiled Roof, New Paint, New Window Coverings, 2 New Hot Water Tanks, Walnut h/wflrs, Top of Line Stainless Steel Appliances and the list goes on. Two Master Bedrooms, 6 &1/2 Baths. Gourmet Kitchen Open Style to Eating and Family Room, Perfect for Kids Play. Basement includes home theatre, games room with pool table, hot tub room and an one bedroom self contained nanny suite. Triple Garage. Close to Montecito Elementary, Ecole Sperling Elementary, Burnaby North Secondary, SFU, Skytrain, Bus Transit, Lougheed Mall, Han Nam Supermarket, Brentwood Mall, All Rec Centres.


#4 ) Address:3120 PHILLIPS AV, Government Road, Burnaby

September 12, 2009 V786548 $718,800 $0 0%
November 04, 2009 V786548 removed after 53 days
January 15, 2012 V925581 $1,430,000 $0 0%
March 21, 2012 V925581 $1,398,000 $-32,000 -2%
May 15, 2012 V925581 removed after 121 days
June 01, 2012 V953659 $1,298,000 $-132,000 -9%
July 17, 2012 V953659 $1,198,000 $-232,000 -16%
September 13, 2012 V953659 removed after 104 days
November 18, 2012 V980558 $1,098,000 $-332,000 -23%
February 18, 2013 V980558 removed after 92 days
February 21, 2013 V991852 $1,123,000 $-307,000 -21%
March 16, 2013 V991852 $1,088,000 $-342,000 -24%
April 22, 2013 V991852 removed after 60 days
May 02, 2013 V1004512 $1,049,000 $-381,000 -27%
July 08, 2013 V1004512 $999,999 $-430,001 -30%
August 30, 2013 V1004512 removed after 120 days
September 28, 2013 V1029183 $988,000 $-442,000 -31%
September 30, 2013 V1029183 removed after 2 days
October 09, 2013 V1031035 $948,000 $-482,000 -34%
October 22, 2013 V1031035 removed after 13 days
April 03, 2014 V1055768 $1,098,000 $-332,000 -23%
June 04, 2014 V1055768 $998,000 $-432,000 -30%

 

v1055768_1

Current Days on Market: 887 (2.43years)
Current ‘Official’ Days on Market: 78
Desperation Score: 31.4

Attention!! Priced to sell. Custom new renovation, 3 level home situated on a huge almost 19,000sqft corner lot in prestigious Government Road. Large new sundeck with vaulted ceilings at the at the living room. All new kitchen and loft/ private style master bedroom. Downstairs with separate entrance. Great attention to detail was given by the European contractor who rebuilt this home right down to the studs & the finest material were used. Features designer shades, Bosch appliances, Decotec vanities, Viessmann high efficiency furnace and so much more. Near SFU, Seaforth Elementary and all desirable amenities. Motived seller, amy offer will consider.


#3 ) Address:6671 SUMAS DR, Parkcrest, Burnaby

June 24, 2013 V1014102 $1,968,000 $0 0%
August 07, 2013 V1014102 $1,888,888 $-79,112 -4%
August 17, 2013 V1014102 $1,788,000 $-180,000 -9%
September 02, 2013 V1014102 removed after 70 days
September 07, 2013 V1025383 $1,698,000 $-270,000 -14%
October 02, 2013 V1025383 $1,688,000 $-280,000 -14%
November 05, 2013 V1025383 removed after 59 days
January 17, 2014 V1042153 $1,788,000 $-180,000 -9%
March 25, 2014 V1042153 removed after 67 days
March 27, 2014 V1054644 $1,788,000 $-180,000 -9%
May 26, 2014 V1054644 $1,750,000 $-218,000 -11%
June 16, 2014 V1054644 removed after 81 days
June 18, 2014 V1070943 $1,698,000 $-270,000 -14%

 

v1070943_1

Current Days on Market: 361 (0.99years)
Current ‘Official’ Days on Market: 2
Desperation Score: 32.8

MAGNIFICENT CUSTOM HOME BUILT BY EXPERIENCED BUILDER. West Coast Contemporary Built Home on a 7,922 sq ft lot featuring a spacious floor plan throughout *4,730 SF). 3 level, 4 bedrooms up, potential 1 bedroom & bachelor suite down, spice kitchen and large media room. Beautiful white oak flooring, radiant heat all around, central air conditioning, appliances by Sears Elite, Electrolux kitchen appliances, Bosch dishwasher, high end Samsung Steam washer & dryer set. Situated near Burnaby North Secondary, Sperling Elementary, Sumas Park, great shopping and transit. Nicely designed and laid out. WARRANTY 2-5-10 INCLUDED! This is a must see at this price point! Please contact us today for your private viewing.


#2 ) Address:# 201 9148 SATURNA DR, Simon Fraser Hills, Burnaby

February 25, 2007 V632100 $279,000 $0 0%
February 25, 2007 V632100 removed after 0 days
March 23, 2007 V636808 $309,000 $0 0%
May 23, 2007 V636808 removed after 61 days
August 09, 2008 V727120 $299,000 $-10,000 -3%
August 30, 2008 V727120 $289,000 $-20,000 -6%
September 29, 2008 V727120 removed after 51 days
June 13, 2010 V836855 $272,900 $-36,100 -12%
June 25, 2010 V836855 $259,000 $-50,000 -16%
August 03, 2010 V836855 removed after 51 days
March 16, 2011 V875559 $262,900 $-46,100 -15%
March 31, 2011 V875559 $252,900 $-56,100 -18%
May 25, 2011 V875559 removed after 70 days
August 25, 2012 V967908 $279,999 $-29,001 -9%
October 04, 2012 V967908 $269,999 $-39,001 -13%
November 08, 2012 V967908 removed after 75 days
August 29, 2013 V1024310 $274,999 $-34,001 -11%
November 11, 2013 V1024310 $319,900 $0 0%
November 29, 2013 V1024310 $318,888 $-1,012 0%
December 09, 2013 V1024310 removed after 102 days
December 19, 2013 V1039101 $318,888 $-1,012 0%
January 16, 2014 V1039101 $318,000 $-1,900 -1%
March 18, 2014 V1039101 $308,888 $-11,012 -3%
April 23, 2014 V1039101 $288,888 $-31,012 -10%
April 30, 2014 V1039101 $318,888 $-1,012 0%
May 02, 2014 V1039101 removed after 134 days
May 08, 2014 V1062396 $318,888 $-1,012 0%
June 04, 2014 V1062396 $299,999 $-19,901 -6%

 

v1062396_1

Current Days on Market: 295 (0.81years)
Current ‘Official’ Days on Market: 43
Desperation Score: 33.2

Attention investors and First Time Home Buyers – Fully renovated townhouse! Could be rented out for $1500.00 a month! Great location! walking distance to elementary/secondary schools, Lougheed Mall & sky train. SFU 5 min by bus. Great ameneties: outside swimming pool, gym, sauna & playground. Well managed complex with very pro-active strata. Pets welcome and rentals allowed. Call today!


#1 ) Address:# 2203 4160 SARDIS ST, Central Park, Burnaby

September 03, 2010 V848300 $448,800 $0 0%
October 14, 2010 V848300 $439,800 $-9,000 -2%
November 03, 2010 V848300 removed after 61 days
November 05, 2010 V857271 $425,000 $-23,800 -5%
December 01, 2010 V857271 removed after 26 days
August 01, 2013 V1019978 $658,800 $0 0%
September 04, 2013 V1019978 $598,800 $-60,000 -9%
September 28, 2013 V1019978 $558,800 $-100,000 -15%
December 28, 2013 V1019978 removed after 149 days
March 24, 2014 V1053986 $549,900 $-108,900 -17%
April 09, 2014 V1053986 $529,900 $-128,900 -20%
May 13, 2014 V1053986 $498,800 $-160,000 -24%
May 28, 2014 V1053986 removed after 65 days
June 02, 2014 V1067620 $468,000 $-190,800 -29%
June 16, 2014 V1067620 $475,000 $-183,800 -28%

 

v1067620_1

Current Days on Market: 323 (0.88years)
Current ‘Official’ Days on Market: 18
Desperation Score: 37.6

You will be impressed! This showcase, 2-storey penthouse features breathtaking panoramic views of downtown Vancouver and beyond, 2 decks, plus a rooftop deck available only to 4 penthouses. Completely remodeled with new kitchen, high-end appliances, bathrooms, flooring, designer paint, & high-end entertainment unit with 46″ TV. There is an insuite laundry for your convenience, plus 2 parkings & 2 storage lockers. Fully refurbished building with new exterior, windows, elevators & piping — all paid for! Amenities include tennis court, gym, clubhouse, outdoor pool. Walk to Central Park, Metrotown, Crystal Mall, SkyTrain. Homes like this rarely come on the market, don’t miss it. Call today to book a private viewing.

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28 responses to “Spotlight Burnaby – June 18, 2014

  1. Diane June 19, 2014 at 9:42 am

    #10, “this house is more beautiful inside than outside”? Is that the realtor’s way of saying this is one ugly house from outside? Cause I have to agree.

    • M- June 19, 2014 at 11:18 am

      I suspect that a house like that had to be a custom-build. Or an odd reno by an owner. Seriously weird.

      But I went to the MLS posting, and I was surprised to find that there were NO OTHER PICTURES. So despite the realtor saying it’s nicer inside, I’m left without much confidence! (better than hideous doesn’t necessarily mean much!)

  2. CBM June 19, 2014 at 10:35 am

    Great update… really like the spotlights… assessed values seem to be missing this week… any reason why?

    • an observer June 19, 2014 at 10:41 am

      planning on doing 1 or 2 of these every day – gathering assessment data is time consuming so I’m leaving it out of these

      • Ray June 19, 2014 at 2:21 pm

        Unfortunately, assessment data is required to really sense desperation. They aren’t desperate until they are hurting based on past purchase price of yearly assessments. Fewer of these would be better but with complete info for a good pulse of what’s happening.

    • Yellow Helicopter June 20, 2014 at 4:11 pm

      Everyone, you can lookup assessment data on your own – google e-assessment bc.

  3. M- June 19, 2014 at 11:46 am

    #1, isn’t a 46″ TV too small these days to be advertising as a feature? If it’s the TV in the bedroom, it’s too thick to be an LED TV, probably just LCD, so it’s already out of date… A new 46″ TV is worth something like $400?

  4. M- June 19, 2014 at 11:55 am

    #2: Looks like it had a new light-duty reno (judging by the sticker on the stove). Judging by the price history, I’m not sure when it was bought, but I don’t think there’s enough money in this flip/reno to recover the cost.

  5. M- June 19, 2014 at 12:37 pm

    #7: Bought for around $560K (my guess) in May 2011, knocked down, new build, sit empty, and now here we are after three years. Given the current asking price of $1128K, that leaves only $568K of margin to cover:
    -PPT on purchase of the old house ($9K)
    -Financing for three years on the purchase price (3y @ 3% on 560K = $50K)
    -Cost of construction, permit fees, plus applicable taxes (@$250/sq.ft = $625K)
    -Financing on construction costs (1y @ 3% on 625K = $19K)
    -Realtor fees on sale of property (7/3+GST = $43K)
    -I think the developer’s losing money on this one.

    Summary of Costs:
    560K – land
    69K – financing
    52K – transaction
    625K – construction/permits
    ————————————-
    $1.306M – total the developer needs in order to break even.

    I think the developer priced the place last November for break-even, or maybe a small profit, but has now realized that it’s not going to happen…

  6. Real Estate Tsunami June 19, 2014 at 12:42 pm

    Here are the Assessments:
    10. 1,451,000
    9. 245,700
    8. 1,954,000
    7. 1,114,000
    6. 402,000
    5. 1,301,000
    4. 1,060,000
    3. 1,344,000
    2. 255,000
    1. 404,000

  7. South_Surrey June 19, 2014 at 2:37 pm

    Waiting for Surrey next 🙂 Thanks Observer.

  8. bailinginbc June 19, 2014 at 4:09 pm

    Looks like the palaces are taking a tumble.

  9. dewflicker June 19, 2014 at 4:32 pm

    Burnaby must win the LML’s “Ugliest Detached Housing” award – at least for this installment of VPD. Point Grey is putting on a surge of new-build grotesqueness though – everything Burnaby has achieved but without the verdant gardens.

  10. Canadiancondom.com June 19, 2014 at 11:03 pm

    Thanks for the assessments.

    Wow!! $250 per square feet for new construction? ?

    I thought it was in the $150 range? ??

    • M- June 20, 2014 at 7:49 am

      Bcconsultants.com’s calculator puts construction costs at $215/sq.ft+GST=$225 for a medium-quality house in East Van (the Burnaby location doesn’t seem to be giving any results). Coquitlam is about $190+GST=200 (less cost is presumably the difference in permit cost?), which would put construction cost at $500K, which still puts them way underwater.

    • an observer June 20, 2014 at 8:09 am

      I’d say most of the homes being built for sale are closer to $150/sqft all in – they are being built cheaply with cookie cutter designs

      • M- June 20, 2014 at 10:51 am

        Oops, I got my link wrong… It should be: bdconsultants.com.

        In general, I agree that most houses being built at being done pretty cheaply. However, in the case of #7, I’d give it a step or two above the basic.

        While I can’t speak to the overall quality, #7 has some features that add cost: stone exterior (even cultured stone is more expensive than plain stucco); curved walls; curved window boxes; fancy (if gaudy) mouldings around the doors; archways; entrance area open to second floor.

      • an observer June 21, 2014 at 2:46 pm

        Yeah, this one might be higher. It takes $ to make something that looks so gaudy. I suspect everything that isn’t visible is built to the lowest standards possible though

  11. Seeking Knowledge... June 20, 2014 at 1:10 pm

    Hi Observer. Do you think you can split up Vancouver into east and west when you get around to it? There’s such disparity that it may be worth while separating the two markets. Just a thought.

    Thanks again Observer and to all the posters with your comments/info. I’m getting stuff here I can’t find anywhere else.

  12. Finally June 20, 2014 at 3:29 pm

    Love the spotlight, showed my wife #4 and she liked it … I want to offer 700K which is reasonable, do you think they would accept it?

    • Real Estate Tsunami June 20, 2014 at 3:57 pm

      It says “amy offer will consider”.
      Me says: Go for it!

      • Trevor June 20, 2014 at 10:21 pm

        Would be nice; however, I doubt they would consider $900k

      • Finally June 29, 2014 at 9:14 am

        Saw #4, my agent said he remembers this house from a couple of years ago. It had mold in the basement, which is covered up now. The Skytrain and the Highway running along it makes a very unique unpleasant sound. Pictures make it look bigger than it is, it’s vacant so it has an odour, dusty, noisy and looks like the reno was done by an amateur. I think someone would have to pay me to live there.

  13. Zinc Whiskers June 20, 2014 at 6:50 pm

    #4 is a corner lot on Lougheed Hwy…ouch…
    Funky interiors though.

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