Vancouver Price Drop

Documenting Vancouver real estate price movements

Spotlight White Rock / South Surrey – July 8, 2014

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%

 

f1412530_1

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%

 

f1416701_1

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%

 

f1408606_1

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%

 

f1410592_1

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%

 

f1412993_1

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%

 

f1402814_1

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%

 

f1409272_1

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%

 

f1413087_1

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%

 

f1410716_1

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%

 

f1416020_1

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!

Advertisements

69 responses to “Spotlight White Rock / South Surrey – July 8, 2014

  1. Vancouverbound July 8, 2014 at 3:28 pm

    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.

  2. South_Surrey July 8, 2014 at 3:37 pm

    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.

  3. RFM July 8, 2014 at 4:11 pm

    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

  4. Avril July 12, 2014 at 8:49 am

    Does anyone know why the “upper end home sales are red hot”? heard on CKNW Money Talks July 12

  5. Avril July 27, 2014 at 7:01 pm

    Where is Vancouverpricedrop?

  6. bailinginbc July 28, 2014 at 8:41 am

    😦

  7. Real Estate Tsunami July 28, 2014 at 10:10 am

    All the “bear” blogs are in partial hibernation right now.
    Calm before the Autumn storm.

  8. an observer July 28, 2014 at 10:48 am

    This time of year is quite busy – I’ll be back in the fall with regular updates

    • Darlene August 4, 2014 at 1:57 pm

      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.

  9. Finally July 28, 2014 at 10:15 pm

    Have a great summer observer!!!

  10. bailinginbc July 28, 2014 at 10:47 pm

    Cool observer, see you in the fall

  11. Real Estate Tsunami July 28, 2014 at 10:58 pm

    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.

  12. Kelly July 29, 2014 at 10:17 pm

    Have a great summer observer; thanks for all your work!

  13. Avril July 31, 2014 at 3:00 pm

    Anyone know where the observer is these days?

  14. Rick August 2, 2014 at 8:25 pm

    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.

    • bailinginbc August 2, 2014 at 10:26 pm

      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?

      • Rick August 3, 2014 at 2:11 pm

        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.

      • an observer August 3, 2014 at 4:34 pm

        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.

      • bailinginbc August 3, 2014 at 11:48 pm

        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.

  15. JulinCR August 3, 2014 at 2:06 pm

    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.

    • Darlene August 4, 2014 at 2:06 pm

      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!

      • Real Estate Tsunami August 4, 2014 at 4:42 pm

        Remember, Vancouver is a different city now then when you left.
        Better rent first.

  16. Darlene August 4, 2014 at 9:32 pm

    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.

    .

    • Real Estate Tsunami August 5, 2014 at 5:41 pm

      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.

  17. RFM August 5, 2014 at 3:17 pm

    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

  18. Bull! Bull! Bull! August 25, 2014 at 10:14 am

    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.

  19. Trevor August 25, 2014 at 12:59 pm

    White Rock is Surrey 😀

  20. Elme August 30, 2014 at 6:52 pm

    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.

  21. beach September 2, 2014 at 12:04 pm

    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.

    • Seeking Knowledge... September 2, 2014 at 12:40 pm

      Studies have shown 50% of the people will make up or misquote stats to support their argument 🙂

      • Elme September 6, 2014 at 9:03 am

        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.

  22. Avril September 2, 2014 at 7:04 pm

    Rick sounds like a realtor……….

  23. RFM September 3, 2014 at 1:54 pm

    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

  24. Avril September 9, 2014 at 8:56 am

    When are you coming back Observer?

  25. Natalie September 16, 2014 at 4:45 pm

    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

  26. Vancouverbound September 29, 2014 at 3:31 pm

    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.

  27. Michael October 2, 2014 at 9:43 am

    Is Observer coming back? Is this blog dead?

  28. RFM October 2, 2014 at 12:21 pm

    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

  29. Real Estate Tsunami October 2, 2014 at 8:31 pm

    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.

    • Elme October 8, 2014 at 11:09 pm

      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.

  30. Seeking Knowledge... October 6, 2014 at 12:34 pm

    I really miss the updates. Hope Observer will be coming back soon.

  31. Avril October 6, 2014 at 7:23 pm

    I think this blog is dead.Why don’t they take it down.

    • Elme October 7, 2014 at 8:53 am

      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.

      • Seeking Knowledge... October 7, 2014 at 12:39 pm

        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 🙂

      • bailinginbc October 7, 2014 at 11:34 pm

        Your a total idiot if you think all bears need a crash just to buy a crappy condo.

      • i3rdrock October 10, 2014 at 7:36 pm

        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. 🙂

  32. bailinginbc October 7, 2014 at 11:34 pm

    You’re

    • Elme October 8, 2014 at 10:40 pm

      I appogize for ignoring those who wait for upgrade.

      • Seeking Knowledge... October 10, 2014 at 1:58 pm

        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.

  33. bailinginbc November 1, 2014 at 9:31 pm

    Nothing beside remains, round the decay of that colossal wreck, boundless and bare, the lone and level sands stretch far away.

  34. RFM November 2, 2014 at 7:50 am

    One of my favorite poems…………..

  35. RFM November 2, 2014 at 7:52 am

    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.

  36. RFM November 2, 2014 at 7:53 am

    Donald Trump, take note! 🙂

  37. RFM November 4, 2014 at 8:07 pm

    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

  38. Avril November 14, 2014 at 6:42 pm

    Observer when are you coming back?

  39. Seeking Knowledge... November 17, 2014 at 2:20 pm

    i wish this blog will come to life again. I really miss the updates and the comments.

    • Elme November 19, 2014 at 11:00 am

      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.

  40. Avril November 17, 2014 at 7:22 pm

    If housing prices in Vancouver are not in decline the Observer has nothing to write about???

  41. mike November 17, 2014 at 11:24 pm

    lol I think that is true

  42. Finally December 12, 2014 at 12:03 pm

    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.

  43. bullwhip29 January 15, 2015 at 4:29 pm

    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.

    • Skook January 15, 2015 at 8:48 pm

      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.

      • bullwhip29 January 21, 2015 at 4:26 pm

        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

    • Finally June 30, 2015 at 10:19 am

      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!

  44. Trevor January 26, 2015 at 3:51 pm

    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.

  45. space889 June 2, 2016 at 11:06 am

    So no more documenting the Vancouver price movements now that the movement isn’t to your liking?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: