Here are the top 10 properties based on their desperation score
#10 ) Address:19376 8TH AV, Hazelmere, White Rock
May 20, 2011 |
F1113105 |
$5,800,000 |
$0 |
0% |
November 17, 2011 |
F1113105 |
$5,788,000 |
$-12,000 |
0% |
February 18, 2012 |
F1113105 |
removed after 274 days |
March 22, 2012 |
F1207234 |
$5,780,000 |
$-20,000 |
0% |
September 20, 2012 |
F1207234 |
removed after 182 days |
September 21, 2012 |
F1223540 |
$5,700,000 |
$-100,000 |
-2% |
January 20, 2013 |
F1223540 |
removed after 121 days |
May 26, 2014 |
F1412530 |
$4,488,000 |
$-1,312,000 |
-23% |
June 27, 2014 |
F1412530 |
$3,668,000 |
$-2,132,000 |
-37% |

Current Days on Market: 44 (0.12years)
Current ‘Official’ Days on Market: 44
Desperation Score: 26.8
Hazelmere Valley Jewel. Over 30 acres of beautifully treed west facing hillside with multiple building sites. Partial views from the top of the property. Character home with 3 Bedrooms & 2 Bathrooms. This prime corner property has an artesian well flowing in the lower field plus 2 drilled wells-one at the top of the property & one servicing the house. There are many large trees and 3 separate road frontages. Near Hazelmere and Peace Portal Golf Courses and next to Ellenbrook Estates. Half mile from Campbell Valley Park, a large Provincial Park in Langley. Perfect property to build your estate.
#9 ) Address:13357 MARINE DR, Crescent Beach/Ocean Park, White Rock
May 22, 2008 |
F2815022 |
$1,099,000 |
$0 |
0% |
September 09, 2008 |
F2815022 |
removed after 110 days |
August 24, 2013 |
F1319833 |
$3,388,000 |
$0 |
0% |
October 17, 2013 |
F1319833 |
$3,250,000 |
$-138,000 |
-4% |
December 28, 2013 |
F1319833 |
removed after 126 days |
January 16, 2014 |
F1400077 |
$3,188,888 |
$-199,112 |
-6% |
March 05, 2014 |
F1400077 |
$2,998,000 |
$-390,000 |
-12% |
April 10, 2014 |
F1400077 |
$2,780,000 |
$-608,000 |
-18% |
June 27, 2014 |
F1400077 |
removed after 162 days |
July 08, 2014 |
F1416701 |
$2,680,000 |
$-708,000 |
-21% |

Current Days on Market: 319 (0.87years)
Current ‘Official’ Days on Market: 1
Desperation Score: 28.3
Traffic stopping curb appeal & an interior designed to show off your art decor. This is Casa Bonita! Large rooms & a spacious open floor plan. 3 huge gorgeous decks, 2 for entertaining or private romantic dinners off the main living floor, & 1 off the master suite. Top quality throughout! Kitchen boasts high end appliances, solid wood cabinets & quartz surfaces. Upper floor is living space to take advantage of the ocean & island view + lovely private backyard. Spa like master suite with dressing room & ensuite incl steam shower, soaker tub & fireplace. Sound proof music/theatre room. A 42×29 heated car buff garage, games room with private deck & hottub. Air conditioning, elevator, motion activated lighting & speakers throughout.
#8 ) Address:1344 129A ST, Crescent Beach/Ocean Park, White Rock
April 14, 2014 |
F1408606 |
$998,000 |
$0 |
0% |
June 04, 2014 |
F1408606 |
$938,000 |
$-60,000 |
-6% |
June 09, 2014 |
F1408606 |
$849,000 |
$-149,000 |
-15% |
July 08, 2014 |
F1408606 |
$778,000 |
$-220,000 |
-22% |

Current Days on Market: 86 (0.24years)
Current ‘Official’ Days on Market: 86
Desperation Score: 28.6
Ocean Park! Gorgeous ocean views from this awesome contemporary. Bright, open entertainment designed floor plan. Architectural features such as open gourmet kitchen, sweeping stairs, inviting foyer and huge family room. Substantially renovated by current owners, crown moldings, new painting, marble tile, all bathrms, maple wood door, art stair railing… Too many to list. Newer roof, high efficiency furnace, hotwater tank. Come and check it out! (9′ ceilings on the main)
#7 ) Address:347 192ND ST, Hazelmere, White Rock
September 28, 2013 |
F1322464 |
$1,800,000 |
$0 |
0% |
March 06, 2014 |
F1322464 |
$1,580,000 |
$-220,000 |
-12% |
March 21, 2014 |
F1322464 |
removed after 174 days |
March 27, 2014 |
F1406950 |
$1,580,000 |
$-220,000 |
-12% |
April 28, 2014 |
F1406950 |
removed after 32 days |
May 02, 2014 |
F1410592 |
$1,480,000 |
$-320,000 |
-18% |
June 16, 2014 |
F1410592 |
$1,355,000 |
$-445,000 |
-25% |

Current Days on Market: 284 (0.78years)
Current ‘Official’ Days on Market: 68
Desperation Score: 29.4
Outstanding opportunity to own this well sought after 5 acre Hazelmere Valley property. Not in ALR. Beautiful serene parklike acreage boasting a West Coast Post and Beam style home with a very spacious open concept. Large living room, kitchen and dining room plus an enormous games room, 5 bedrooms and an over length garage. Enjoy golf at Hazelmere Golf club, walk the promenade and Beaches in White Rock or equestrian activities, country living at its best! A Great Investment now and the future!
#6 ) Address:# 302 15131 BUENA VISTA AV, White Rock, White Rock
July 12, 2007 |
F2718056 |
$390,000 |
$0 |
0% |
August 09, 2007 |
F2718056 |
$379,900 |
$-10,100 |
-3% |
December 05, 2007 |
F2718056 |
removed after 146 days |
January 12, 2008 |
F2800680 |
$375,000 |
$-15,000 |
-4% |
May 07, 2008 |
F2800680 |
$369,000 |
$-21,000 |
-5% |
June 14, 2008 |
F2800680 |
$359,000 |
$-31,000 |
-8% |
July 01, 2008 |
F2800680 |
$345,000 |
$-45,000 |
-12% |
July 09, 2008 |
F2800680 |
removed after 179 days |
July 19, 2008 |
F2821828 |
$345,000 |
$-45,000 |
-12% |
October 15, 2008 |
F2821828 |
$325,000 |
$-65,000 |
-17% |
October 31, 2008 |
F2821828 |
$315,000 |
$-75,000 |
-19% |
January 02, 2009 |
F2821828 |
removed after 167 days |
January 20, 2009 |
F2900941 |
$315,000 |
$-75,000 |
-19% |
March 11, 2009 |
F2900941 |
removed after 50 days |
March 16, 2011 |
F1106730 |
$378,000 |
$-12,000 |
-3% |
June 15, 2011 |
F1106730 |
removed after 91 days |
August 05, 2013 |
F1318294 |
$379,900 |
$-10,100 |
-3% |
September 23, 2013 |
F1318294 |
removed after 49 days |
September 28, 2013 |
F1322481 |
$379,900 |
$-10,100 |
-3% |
October 23, 2013 |
F1322481 |
$359,900 |
$-30,100 |
-8% |
December 28, 2013 |
F1322481 |
removed after 91 days |
January 19, 2014 |
F1401213 |
$369,900 |
$-20,100 |
-5% |
February 21, 2014 |
F1401213 |
$359,900 |
$-30,100 |
-8% |
April 01, 2014 |
F1401213 |
removed after 72 days |
May 28, 2014 |
F1412993 |
$339,900 |
$-50,100 |
-13% |
June 21, 2014 |
F1412993 |
$324,000 |
$-66,000 |
-17% |

Current Days on Market: 338 (0.93years)
Current ‘Official’ Days on Market: 42
Desperation Score: 29.7
“BAY POINTE” PENTHOUSE SUITE! TOP FLOOR-CORNER UNIT has no one above you or on either side & features OCEAN VIEWS from both sides! This immaculate & bright home is 1013 sq/ft & offers 2 bedrooms, 2 bathrooms & in-suite laundry. Also featuring incredible vaulted ceilings, skylights, fresh designer paint, cozy gas fireplace, partially covered private balcony, Brazilian hardwood & tiled flooring. Quiet self- managed complex has only 18 units and also offers a secured underground parking stall plus plenty of street parking near-by for your guests and your family pet is also welcome. Maintenance fees include hot-water, storage & bike-room … all in the heart of White Rock – just steps to the beach, quaint shops, public transit& more!
#5 ) 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% |

Current Days on Market: 972 (2.66years)
Current ‘Official’ Days on Market: 151
Desperation Score: 30.3
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
#4 ) Address:13401 13A AV, Crescent Beach/Ocean Park, White Rock
July 23, 2011 |
F1117919 |
$1,388,000 |
$0 |
0% |
August 10, 2011 |
F1117919 |
removed after 18 days |
July 14, 2012 |
F1218340 |
$1,488,000 |
$0 |
0% |
July 25, 2012 |
F1218340 |
removed after 11 days |
May 21, 2013 |
F1311831 |
$1,880,000 |
$0 |
0% |
June 28, 2013 |
F1311831 |
$1,780,000 |
$-100,000 |
-5% |
July 20, 2013 |
F1311831 |
removed after 60 days |
October 14, 2013 |
F1323720 |
$1,699,000 |
$-181,000 |
-10% |
December 09, 2013 |
F1323720 |
removed after 56 days |
December 21, 2013 |
F1327243 |
$1,268,000 |
$-612,000 |
-33% |
February 18, 2014 |
F1327243 |
removed after 59 days |
April 21, 2014 |
F1409272 |
$1,598,000 |
$-282,000 |
-15% |
June 06, 2014 |
F1409272 |
$1,498,000 |
$-382,000 |
-20% |

Current Days on Market: 414 (1.13years)
Current ‘Official’ Days on Market: 79
2011 Last Sale: $1,345,000 on 03/Aug/2011
Total Profit IF sold for list price: 77,444 transaction costs and 153,000 profit on sale = Profit of 75,556
Desperation Score: 31.1
Spectacular Ocean Views on one of the most prestigious streets in Ocean Park. This three level 5 bedroom, 4 bathroom home is situated on a quiet 8208 sq ft lot on the high side of a private cul-de-sac. The bright and open floor plan are ideal for you and your family. The spacious lower level could be a home office, play room or a retreat for guests or in-laws. Hold as an investment, renovate, or build your dream home. The possibilities are endless as you enjoy the fabulous ocean, island, and sunset views. This truly is West Coast living at its finest. * PREC – Personal Real Estate Corporation
#3 ) Address:14410 SUNSET LN, White Rock, White Rock
October 06, 2013 |
F1322293 |
$2,199,000 |
$0 |
0% |
October 30, 2013 |
F1322293 |
removed after 24 days |
November 11, 2013 |
F1325322 |
$1,888,600 |
$-310,400 |
-14% |
November 29, 2013 |
F1325322 |
$1,825,000 |
$-374,000 |
-17% |
February 03, 2014 |
F1325322 |
removed after 84 days |
February 08, 2014 |
F1402880 |
$1,789,000 |
$-410,000 |
-19% |
April 09, 2014 |
F1402880 |
removed after 60 days |
April 14, 2014 |
F1408848 |
$1,698,000 |
$-501,000 |
-23% |
May 20, 2014 |
F1408848 |
removed after 36 days |
June 02, 2014 |
F1413087 |
$1,599,888 |
$-599,112 |
-27% |

Current Days on Market: 276 (0.76years)
Current ‘Official’ Days on Market: 37
Desperation Score: 32.4
Custom built home in a Prime West Beach location. Designed by Bill Daniels and quality built. First time offered and very well kept by original owner. Large 6577 sq ft Lot. Private South yard has in ground Salt water pool and hot tub. Updated kitchen with granite counters and stainless appliances. Custom built-ins, soaring ceilings in Living room. Open plan taking full advantage of the water views. Large den with fireplace on main floor. Amazing view from huge Master bedroom with private deck. Steam shower in 2nd bathroom. 2 additional bedrooms in finished basement with family room and walk out to pool. Loads of parking. Panoramic views from most rooms. Easy walk to the beach.
#2 ) 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% |
April 15, 2014 |
F1406782 |
removed after 22 days |
May 04, 2014 |
F1410716 |
$1,890,000 |
$-610,000 |
-24% |
June 21, 2014 |
F1410716 |
$1,790,000 |
$-710,000 |
-28% |

Current Days on Market: 326 (0.89years)
Current ‘Official’ Days on Market: 66
Desperation Score: 36.8
Located on quiet street in the heart of White Rock. This “must see” contemporary home is finished to the highest of standards. Luxurious hardwood and Italian flooring thru out. Top of the line gourmet kitchen with Wolf, Sub Zero, wine fridge, walk in pantry and 10′ island. Media room on the main for the big screen, huge eating area that opens bright south backing lot. The 5 STAR master suite has it all from ocean view deck to his and her walk in closets. Large kids bedrooms with beautiful ensuites and walk in closets with built in’s. This custom home will not disappoint the most discriminant buyer….MUST SEE…easy to show.
#1 ) Address:3283 140TH ST, Elgin Chantrell, White Rock
May 05, 2011 |
F1111573 |
$1,688,000 |
$0 |
0% |
June 22, 2011 |
F1111573 |
$1,588,000 |
$-100,000 |
-6% |
July 13, 2011 |
F1111573 |
$1,488,000 |
$-200,000 |
-12% |
July 31, 2011 |
F1111573 |
removed after 87 days |
September 01, 2011 |
F1121913 |
$1,588,000 |
$-100,000 |
-6% |
September 10, 2011 |
F1121913 |
$1,488,000 |
$-200,000 |
-12% |
October 29, 2011 |
F1121913 |
$1,388,000 |
$-300,000 |
-18% |
January 24, 2012 |
F1121913 |
$1,675,000 |
$-13,000 |
-1% |
February 29, 2012 |
F1121913 |
removed after 181 days |
May 28, 2013 |
F1312588 |
$1,579,000 |
$-109,000 |
-6% |
July 10, 2013 |
F1312588 |
$1,498,000 |
$-190,000 |
-11% |
August 15, 2013 |
F1312588 |
removed after 79 days |
August 27, 2013 |
F1319952 |
$1,250,000 |
$-438,000 |
-26% |
October 02, 2013 |
F1319952 |
$1,498,000 |
$-190,000 |
-11% |
October 29, 2013 |
F1319952 |
$1,398,000 |
$-290,000 |
-17% |
November 29, 2013 |
F1319952 |
removed after 94 days |
January 16, 2014 |
F1400724 |
$1,575,000 |
$-113,000 |
-7% |
April 24, 2014 |
F1400724 |
$1,498,000 |
$-190,000 |
-11% |
June 02, 2014 |
F1400724 |
$1,398,000 |
$-290,000 |
-17% |
June 18, 2014 |
F1400724 |
removed after 153 days |
June 27, 2014 |
F1416020 |
$1,398,000 |
$-290,000 |
-17% |

Current Days on Market: 407 (1.12years)
Current ‘Official’ Days on Market: 12
Desperation Score: 39.4
RARE OPPORTUNITY! White Rock’s famous Elgin Chantrell area two-storey home, large lot offers 51,836 sqft (336*154.65), indoor area of 2,384 sqft. 5 bedrooms, 3 bathrooms, garden trees mature, outdoor area provide you a park-like garden. Good opportunity for you to live, rent or build your dream house. The lot is subdividable. The best choice Value! DO NOT MISS OUT!
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Ugly House Awards. Today I nominate the following exceptional finds:
#8 – they show a picture of the trees/water because once you see the outside of this beauty you will run away as fast as you can. Sugar plum fairies meets Ireland. Does anyone know what the real color name is?
#3 – screams last century. Every-time I take a dump I would hum Goldfinger. You will need $300,000 plus just to update. I could take the difference between #8 and #3 ($822,000), buy number 8, burn it to the ground and build a brand new state of the art house for less money.
Thank you observer, it seems like white rock is not able to sustain itself to the market pressure anymore 🙂 I believe the next area to suffer a bit would be Newton in Surrey.
I love Ping Pong Pricing! Here we go: #1: price reduced 10 times; price increased 4 times; re-listed at same price once.
Vancouverbound: I would call the color of #8 ‘patinated copper’ because it is the color you get if you leave copper outside for a very long time
Does anyone know why the “upper end home sales are red hot”? heard on CKNW Money Talks July 12
Where is Vancouverpricedrop?
😦
All the “bear” blogs are in partial hibernation right now.
Calm before the Autumn storm.
This time of year is quite busy – I’ll be back in the fall with regular updates
Ooooh good. I thought maybe I got dropped from your list when I didnt get any more updates. Well I do hope you get a bit of a break. I do so enjoy your blog. We live on an acreage just west of edmonton,. We both moved out here in the 80’s to find work. 26 years later we want to move back. You give me hope,have a wonderful summer.
Have a great summer observer!!!
Cool observer, see you in the fall
According to the Chinese Year of the Horse horoscope, this fall will see Chinese investors in RE in Vancouver re-evaluate their position.
FENG Shui experts recommend to their clients to be cautious.
Have a great summer observer; thanks for all your work!
Anyone know where the observer is these days?
Read back a few comments… “will be back in the fall.”
I think housing prices in greater Vancouver will continue a steady increase for the next 8-10 years. Retired Canadian baby boomers will be moving here from the colder parts of Canada. Rising travel health insurance costs will keep many of the aging boomers in Canada ie BC. Most of the new comers will not be affected by a spike in mortgage rates because of their built up equity. In addition, if the LNG project gets off the ground it will bring workers into the province. I really don’t see a future for the Vancouver Price Drop blog.
Thanks for sharing your thoughts Rick. Could you please give us some more details on how you see these new comers to BC being unaffected by a mortgage rates? Wouldn’t most people retiring be looking to pocket some of their built up equity rather than increasing their debt? Do you see these new comers selling multiple properties in order to finance their Vancouver homes? If they find travel insurance prohibitive don’t you think they may also find Vancouver housing prices also a little prohibitive?
From my own experience, moving from older and bigger to newer and smaller costs more ie you do not pocket anything; rather, your hand is always in your pocket when you do a move. Many retired boomers are also the beneficiaries of windfall inheritances. Vancouver has a lot to offer and I believe that those who make a planned move here are more than willing to pay the piper to do so. I moved here from out of province nine months ago and our only regret is that we did not do it sooner. I’m not talking overpriced 5000 sq ft monsters, you see those across Canada. In my opinion, Vancouver real estate prices are on steady ground.
It’s hard to argue with your nine months of experience in the Vancouver market! The market has been defying logic here for some time but it is just a matter of time before this long bull cycle comes to an end, as they always do, and it will be a horrible experience for a lot of over leveraged people. Those that didn’t over extend and get lost in real estate mania will likely be fine although the repercussions of a real estate crash in a region that has little else going for it economically (or at least whose inhabitants have little else going for them besides real estate) could be widespread.
Out of interest Rick, have you come to BC to retire, or are you still working? Did you move to Vancouver or somewhere else in BC. I don’t really hear of a lot of people moving to Van to retire but perhaps I move in the wrong circles.
Rick, I think you’re a bit confused.. Why would any baby-boomers come to our rain city? We have poor infrastructure, very little culture, pretty bad weather (summers are absolutely beautiful, but 9 months of rain are almost unbearable).
Retired folks go South, and yes, south of the border on many occasions. On this coast of Canada Victoria is much more popular than Vcity among older folks.
If the LNG project gets approved, it will bring very few jobs if any, and those folks won’t be able to afford anything in V-town, unless we have a major crash.
Prices ARE dropping in the suburbs, very slowly, but they are. In most cases the liquidity is gone. People just cannot sell at all, so they take the pr-ties off the market (big mistake) hoping to sell it when market conditions improve (they won’t).
All the smart folks I know have already cashed in or are chasing those last buyers to cash in.
As for the blogs future, it’s quite bright. It’s just taking a while with all the MSM news/re advertising.
As for us, blog-dogs, and Observer, we have a life, you know. Summer is spectacular time here in rain city. There is nowhere I’d rather be for these 3 months!! We just don’t obsess about RE. It’s just another asset class/place to live, not an idol.
Rick, Hope you don’t get offended, it’s a bear blog, after all.
Not all of us go south. A lot of us want to come back to the nest we fledged from. Don’t care one bit about the rain. When you live in a place where the temperature can hover around -20 to -30 for 3-4 months of the winter,I’ll take rain thankyou!
Remember, Vancouver is a different city now then when you left.
Better rent first.
Yep, well aware of the changes. We visit all the time. There is a lot more congestion than we are used to. The quiet spaces that used to be are far and few between,traffic is a nightmare..But the convenience of walking to the grocery store being close to the beaches far outweighs the negative aspects. I am active and love running the seawall,biking,skiing in the winter etc. Dont even get me started on the Doggie beaches,woo-hoo.
.
Yeah skiing in the winter.
I used to have a seasons pass to Cypress.
Don’t bother anyone.
Too much rain and fog.
Whistler is not much better.
The VANCOUVER REALTOR HUNGER INDEX for July 2014 was 54%. How does this compare? The 17-year average for July is 45%. At 54%, the 2014 July VRHI was higher than 8 years and lower than 8 since 1998.
Details and comparison data for 17 years at: http://vancouverpeak.com/showthread.php?tid=64
lots of properties for more than a million in white rock and surrey. CMHC funding doesn’t apply for properties over a million.
and people say HAM is isolated to small segment of the market. lol.
White Rock is Surrey 😀
I have to say most people living in an international city lack of international vision some just like a frog nests the bottom of a dry well. If you can make a couple of trips to cities in merging market like Beijing, Shanghai or Shanzhen, you will feel the energy of their economy. An apartment in these cities is more expensive than a house in Vancouver West. The Canadian dollar depreciated about 40% against RMB over the past 4 years. The middle class in these cities can earn more than 200k Canadian dollar a year. And there are about 100 million people living in these three cities. Now every year there are almost 2 million people from there come to visit Vancouer. When they are back home they will tell other people the good air and water we have, and how cheap the housing price in Vancouver is.
Accept it or deny, that’s another foundamental we live with. Vancouver is a pacific gateway to Canada and bridgehead for Asian wealth.
2 million people? More like 200k according to this article (http://www.cbc.ca/news/canada/british-columbia/china-now-vancouver-tourism-s-largest-overseas-market-1.2714739). But who is counting? Certainly not you.
Studies have shown 50% of the people will make up or misquote stats to support their argument 🙂
The residential mortgage rate in China is around 6 and the housing price is still going up in tier one cities. So people think rate increase will slaughter these Asian money, you don’t know the game really. No matter how much money China has pumped into their economy, RMB keeps appreciated. That sounds strange but true! Because the job and business are weak here, we have to keep our currency low to be competitive. Leave Vancouver or buy when you still can, as the Asian money will keep flooding here for our cheap dollar and housing price until the printing machine being shut off. So our house is just their paper and ink, that’s the game.
Rick sounds like a realtor……….
The VANCOUVER REALTOR HUNGER INDEX for August 2014 was 58%. How does this compare? The 17-year average for August is 50%. At 58%, the 2014 August VRHI was higher than 8 years and lower than 8 years since 1998.
Details and comparison data for 17 years at: http://vancouverpeak.com/showthread.php?tid=64
When are you coming back Observer?
🙂
Just for fun, here’s an update on the status of the July 8th posted listings:
10) F1412530 SOLD $3,500,000
9) F1416701 no change
8) F1408606 SOLD $760,000
7) F1410592 SOLD $1,150,000
6) F1412993 OFF MARKET/TERMINATED September 10th
5) F1402814 OFF MARKET/EXPIRED August 30th
4) F1409272 OFF MARKET/EXPIRED July 31st
3) F1413087 SOLD $1,550,000
2) F1410716 TERMINATED/RELISTED/NEW REALTOR $ 1,548,000
1) F1416020 no change
Why would anyone move to greater Vancouver? As a Calgarian who use to live in Port Moody, I liked the rain. The snow and ice gets to be a pain later in life. We just had a snow fall two weeks – ago – early September – that decimated thousands of trees. An umbrella takes care of the moisture. Calgary is getting stupid pricing and the suburbs in GVA are looking attractive, especially when you do not have to commute.
Is Observer coming back? Is this blog dead?
The VANCOUVER REALTOR HUNGER INDEX for September 2014 was 56%. How does this compare? The 17-year average for September is 52%. At 56%, the 2014 September VRHI was higher than 8 years and lower than 8 years since 1998.
Details and comparison data for 17 years at: http://vancouverpeak.com/showthread.php?tid=64
Arnold Shuhart,
If you still read this blog, I’m sorry I’m that you’ve sold out.
Sales in Richmond must be very slow.
—–
A. Shuchart who prides himself to be a Realtor who speaks his mind has joint the sheeples:
Shame on him. Can’t trust a Realtor.
————
Home sales activity picks up the pace in September
Home buyers were active in Metro Vancouver last month, with home sales well exceeding the 10-year average for September.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,922 on the Multiple Listing Service® (MLS®) in September 2014. This represents a 17.7 per cent increase compared to the 2,483 sales in September 2013, and a 5.4 per cent increase over the 2,771 sales in August 2014.
Last month’s sales were 16.1 per cent above the 10-year sales average for the month and rank as the third highest selling September over that period.
“September was an active period for our housing market when we compare it against typical activity for the month,” Ray Harris, REBGV president said.
New listings for detached, attached and apartment properties in Metro Vancouver* totalled 5,259 in September. This represents a 4.6 per cent increase compared to the 5,030 new listings in September 2013 and a 33.5 per cent increase from the 3,940 new listings in August. Last month’s new listing total was 0.4 per cent above the region’s 10-year new listing average for the month.
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,832, an 8 per cent decline compared to September 2013 and a 0.4 per cent increase compared to August 2014.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $633,500. This represents a 5.3 per cent increase compared to September 2013.
“Gains in home values are being led by the detached home market. Condominium and townhome properties are not experiencing the same pressure on prices at the moment,” Harris said. “Individual trends can vary depending on different factors in different areas, so it’s important to do your homework and work with your REALTOR® when you’re looking to determine the market value of a home.”
Sales of detached properties in September 2014 reached 1,270, an increase of 24.1 per cent from the 1,023 detached sales recorded in September 2013, and a 113.8 per cent increase from the 594 units sold in September 2012. The benchmark price for detached properties increased 7.3 per cent from September 2013 to $990,300.
Sales of apartment properties reached 1,188 in September 2014, an increase of 16.7 per cent compared to the 1,018 sales in September 2013, and a 75.7 per cent increase compared to the 676 sales in September 2012. The benchmark price of an apartment property increased 3.3 per cent from September 2013 to $378,700.
Attached property sales in September 2014 totalled 464, a 5 per cent increase compared to the 442 sales in September 2013, and an 88.6 per cent increase over the 246 attached properties sold in September 2012. The benchmark price of an attached unit increased 4.2 per cent between September 2013 and 2014 to $477,700.
The average housing price in Beijing is about $6,300 (RMB34,437)per square meter in August. An average apartment of 150 square meters is worth $950,000. What people can get with this price is an unfinished (a concrete frame without interior improvements) and unfurnished (no appliance, of course) condo of leasehold of 70 years as longest there. For almost the same price people can get a ready for move-in freehold detached home with garden here.
I really miss the updates. Hope Observer will be coming back soon.
I think this blog is dead.Why don’t they take it down.
To keep bears dreaming! Reality is hard to live with for them. People who need a crash to get on board would have wasted the best ten years of their life predicting a market correction.
I think many bears here are already home owners and living very comfortably. I’m just a spectator observing what happens to a city when median home ownership is almost 10x median income (unless you’re convince we’re the NY or SF of Canada). It’s like following the Leafs NHL season 🙂
Your a total idiot if you think all bears need a crash just to buy a crappy condo.
bailinginbc @October 7, 2014 at 11:34 pm
So true! LOL
Freako is buying finally. Can’t vouch for his timing though.
It seems that the “Ides of March” is somewhere around 2015 April 10.
http://pro.moneymappress.com/MMRBSSH39/PMMRQC03/?iris=252776&h=true
@observer, please take all the time you need to pause, and enjoy the upcoming fetes with your family. 🙂
You’re
I appogize for ignoring those who wait for upgrade.
If there’s a good deal to be had, I may make the upgrade. Otherwise, I’m happy where I am. Vancouver RE is not even close to being reasonable from my perspective. So, not really waiting per se.
Nothing beside remains, round the decay of that colossal wreck, boundless and bare, the lone and level sands stretch far away.
One of my favorite poems…………..
OZYMANDIAS by Percy Bysshe Shelley, 1818
I met a traveller from an antique land
Who said: Two vast and trunkless legs of stone
Stand in the desert. Near them, on the sand,
Half sunk, a shattered visage lies, whose frown
And wrinkled lip, and sneer of cold command
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them and the heart that fed.
And on the pedestal these words appear:
“My name is Ozymandias, king of kings:
Look on my works, ye Mighty, and despair!”
Nothing beside remains. Round the decay
Of that colossal wreck, boundless and bare
The lone and level sands stretch far away.
Donald Trump, take note! 🙂
The VANCOUVER REALTOR HUNGER INDEX for October 2014 was 54%. How does this compare? The 17-year average for October is 50%. At 54%, the 2014 October VRHI was higher than 8 years and lower than 8 years since 1998.
Details and comparison data for 17 years at: http://vancouverpeak.com/showthread.php?tid=64
Observer when are you coming back?
i wish this blog will come to life again. I really miss the updates and the comments.
I’ve been reading bears’ blog since 2008. Now 6 years have passed, here is where we are. Even if it drops from here, bears probably have to wait for some 6 years until it reaches where the bears call it a bottom. How many 12 years are there in one’s life especially when they are spent with your kids. Be happy with rental or buy when you can.
If housing prices in Vancouver are not in decline the Observer has nothing to write about???
lol I think that is true
I’m waiving the white flag on waiting for house prices to decrease in Vancouver. I’ve been a bear for the past 5 years, but I give up, I give up trying to educate people that prices should go down. But so far, I’ve been wrong.
observer:
i hope you have only been marking time for all these months versus throwing the towel in completely. it looks very much like the RE industry, banks and the millions of overleveraged Cdns out there will soon have to deal head-on with what looks to be the very long awaited perfect storm. you will have plenty to write about in 2015 and beyond. cheers.
Have to agree with bullwhip29. Also, Observer, I want to wish you a Happy New Year for 2015. Have appreciated all the work you have done here a VPD. I still pop in now and then to search past postings that I know included Sunshine Coast properties. Take care.
well, well, it looks like the BOC sees trouble on the horizon. its too bad they are effectively out of ammo. it is highly doubtful a 25 bp cut (and likely more in coming months) will save the millions of Cdns who are buried up to their eyeballs in debt. imho, this move is an acknowledgement by the BOC that not only is “something” wrong, but that the problem is here to stay for a while
I’ve thrown in the towel completely. Yes, I joined the bidding wars, but it is what it is. I’ve been waiting for 3 years as I sold 3 properties in 2012 and been renting since. I just purchased a house in Burnaby, BC for 1.2 million. I did manage to put 1 million down, so I will be OK if the market tanks and when interest rates rise. Good luck everyone!
The market is interesting. It is high for me, but not high for people with a lot of money. Properties are still moving, at least in North Van, where I wouldn’t sell my dad’s house as what it’s appraised at considering some houses in worse condition and much small lots sell for much more in East Van (Plus the environment is in my biased opinion much nicer). I wouldn’t even sell it for 25% more and I bet many people wouldn’t. On one side, I’d like the market to come down to get in (but then interest rates would be higher, hence I’d be able to afford the same); on the other hand I don’t want it to go down. Although the weather is crappy sometimes, I feel Vancouver is a great place to live. There is a ton of freedom here and security that obviously attracts people to come live here. Also, for the market to go down a considerable amount, other places around the world have to come down as well (London, HK, SF, NY…). Although, I think homes in Vancouver cost a lot; it is still cheap compared to other places for what you get. That’s my opinion – I plan to buy this year, but am pretty patient and am in no rush at all. I’ll update you get your opinions on what I end up purchasing. Unfortunately, if you want more affordable housing, it seems leaving Vancouver may a better option for people. I enjoyed this site when it was updating, even though many of the properties were former growops and foreclosures. I almost bought one of them through this site. Thanks.
Bid war now.
So no more documenting the Vancouver price movements now that the movement isn’t to your liking?
Time to start this back up, amigo. Those drops aren’t going to document themselves.
Agreed. 6 rate increases, the 30-year paradigm has been broken. Hopefully your aggregator is still running. Time to document the implosion finally, lol.
Ohhh- yes please!