Vancouver Price Drop

Documenting Vancouver real estate price movements

Category Archives: Spotlight Richmond

Richmond Spotlight – June 25, 2013

Here are the top 10 most desperate properties in Richmond

The formula attempts to determine the level of desperation for a particular home by looking at price drops and relistings and weighting them based on the size of the drop and how recently it happened.


#10 ) Address:9291 DIAMOND RD, Seafair, Richmond

October 06, 2006 V603614 $499,000 $0 0%
October 29, 2006 V603614 $476,000 $-23,000 -5%
January 16, 2007 V603614 $448,000 $-51,000 -10%
February 05, 2007 V603614 removed after 122 days
November 30, 2007 V679614 $1,198,000 $0 0%
May 02, 2008 V679614 removed after 154 days
May 17, 2008 V707101 $1,178,000 $-20,000 -2%
June 10, 2008 V707101 removed after 24 days
June 13, 2008 V715841 $1,178,000 $-20,000 -2%
August 06, 2008 V715841 removed after 54 days
August 08, 2008 V726956 $1,099,000 $-99,000 -8%
September 18, 2008 V726956 $1,078,000 $-120,000 -10%
September 19, 2008 V726956 $1,048,000 $-150,000 -13%
October 10, 2008 V726956 removed after 63 days
January 20, 2012 V926455 $1,790,000 $0 0%
April 17, 2012 V926455 $1,690,000 $-100,000 -6%
May 31, 2012 V926455 removed after 132 days
June 04, 2012 V954271 $1,650,000 $-140,000 -8%
November 01, 2012 V954271 removed after 150 days
November 16, 2012 V980239 $1,597,000 $-193,000 -11%
December 15, 2012 V980239 $1,587,000 $-203,000 -11%
February 26, 2013 V980239 $1,545,000 $-245,000 -14%
April 10, 2013 V980239 $1,519,000 $-271,000 -15%
May 12, 2013 V980239 removed after 177 days
May 25, 2013 V1008954 $1,550,000 $-240,000 -13%
June 15, 2013 V1008954 $1,498,000 $-292,000 -16%

v1008954_1

Current Days on Market: 523 (1.43years)
Current ‘Official’ Days on Market: 32
2012 Assessment: $1,545,000
2011 Assessment: $1,450,000
Desperation Score: 35.4

A recent price increase did not seem to work so now listed below assessment

Like new 3300 sq ft home, very well maintained in popular West Richmond Seafair. Bright and very practical floor plan with an extremely big wok kitchen. This home contains 5 bedrooms plus den with 4 full bathrooms. Good quality built house with granite counters in kitchen, maple cabinets throughout the bathrooms, living room and family room contains high ceilings and much more. South West exposed backyard, steps to Hugh Boyd School, Dixon Elementary, Seafair Mall and public transportation.


#9 ) Address:9751 PIGOTT RD, Saunders, Richmond

October 06, 2006 V611405 $539,000 $0 0%
December 11, 2006 V611405 removed after 66 days
May 19, 2007 V648001 $559,000 $0 0%
May 28, 2007 V648001 removed after 9 days
July 19, 2007 V659779 $589,000 $0 0%
November 06, 2007 V659779 removed after 110 days
June 01, 2008 V712916 $1,368,000 $0 0%
July 15, 2008 V712916 removed after 44 days
July 17, 2008 V722667 $1,299,000 $-69,000 -5%
October 18, 2008 V722667 $1,238,000 $-130,000 -10%
November 25, 2008 V722667 $1,198,000 $-170,000 -12%
December 09, 2008 V722667 removed after 145 days
December 11, 2008 V746154 $1,188,000 $-180,000 -13%
January 14, 2009 V746154 $1,099,000 $-269,000 -20%
February 07, 2009 V746154 removed after 58 days
January 13, 2012 V925091 $1,980,000 $0 0%
March 01, 2012 V925091 removed after 48 days
March 04, 2012 V935278 $1,930,000 $-50,000 -3%
March 17, 2012 V935278 $1,880,000 $-100,000 -5%
May 01, 2012 V935278 $1,799,800 $-180,200 -9%
June 21, 2012 V935278 removed after 109 days
July 22, 2012 V963363 $1,730,000 $-250,000 -13%
October 09, 2012 V963363 removed after 79 days
October 13, 2012 V976440 $1,798,000 $-182,000 -9%
January 10, 2013 V976440 $1,698,000 $-282,000 -14%
April 01, 2013 V976440 removed after 170 days
April 12, 2013 V1000708 $1,680,000 $-300,000 -15%
June 19, 2013 V1000708 $1,580,000 $-400,000 -20%

v1000708_1

Current Days on Market: 530 (1.45years)
Current ‘Official’ Days on Market: 75
2012 Assessment: $1,827,000
2011 Assessment: $1,787,000
Desperation Score: 35.4

“must be sold.” – 13% below assessment and still no takers.  Now listed only $200K more than the lot had been originally listed for back in 2008

Bright and spacious custom built deluxe home in the most desirable “Broadmoor” neighborhood area. High ceilings, gorgeous spiral stairs and crystal chandeliers in the living room, open concept floor plans. High-end cabinetry &top of the line stainless steel appliances of the gourmet kitchen, granite counter tops, central air-conditioning, radiant heat and hot water heat, spacious wok kitchen, luxurious master ensuite with steam shower and jacuzzi hot tub. Secured fenced park-like garden back yard, minutes walk to McRoberts senior secondary school, South Arm Community Centre, Broadmoor shopping centre, close to transit and Canada line station. Huge lot with beautiful street appeal, must be sold.


#8 ) Address:# 310 4111 BAYVIEW ST, Steveston South, Richmond

May 04, 2012 V947557 $879,000 $0 0%
May 11, 2012 V947557 $849,000 $-30,000 -3%
May 23, 2012 V947557 $819,000 $-60,000 -7%
June 04, 2012 V947557 removed after 31 days
June 09, 2012 V955561 $789,000 $-90,000 -10%
June 22, 2012 V955561 $749,000 $-130,000 -15%
July 24, 2012 V955561 $689,000 $-190,000 -22%
September 01, 2012 V955561 removed after 84 days
September 08, 2012 V970245 $689,000 $-190,000 -22%
January 01, 2013 V970245 removed after 115 days
March 14, 2013 V995580 $689,000 $-190,000 -22%
March 29, 2013 V995580 $669,000 $-210,000 -24%
May 22, 2013 V995580 removed after 69 days
June 02, 2013 V1009977 $669,000 $-210,000 -24%
June 20, 2013 V1009977 $649,000 $-230,000 -26%

v1009977_1

Current Days on Market: 418 (1.15years)
Current ‘Official’ Days on Market: 24
2012 Assessment: $714,000
2011 Assessment: $731,000
Desperation Score: 36.0

“Priced 45k below assessed value for quick sale” – now priced $65K below assessment for quick sale

Welcome to this great corner home with a spacious floor plan that offers plenty of natural light, 9″ ceiling, 3 large sun drenched decks with endless views of the water and beyond and breath taking sunsets. Rarely available functional floorplan, lovingly cared-for, you’ll love the thoughtful design of this three bedroom, two bathroom plus den living space, not to mention being less than a minute on foot away from all the wonders of the Village including the boardwalk, shops, restaurants, park library & community center. Exceptional facilities including a gym, guest suite, bike storage & entertaining room. Priced 45k below assessed value for quick sale! Best deal in the village. Open House Sunday June 9, 12-2pm.


#7 ) Address:10091 DEAGLE RD, Broadmoor, Richmond

July 07, 2010 V840570 $1,180,000 $0 0%
July 27, 2010 V840570 removed after 20 days
January 01, 2011 V861739 $1,498,000 $0 0%
January 11, 2011 V861739 removed after 10 days
April 09, 2012 V941570 $3,788,800 $0 0%
June 30, 2012 V941570 removed after 82 days
July 18, 2012 V962493 $3,788,800 $0 0%
July 31, 2012 V962493 $3,580,000 $-208,800 -6%
August 01, 2012 V962493 $3,490,000 $-298,800 -8%
October 16, 2012 V962493 removed after 90 days
November 22, 2012 V980912 $2,880,000 $-908,800 -24%
December 14, 2012 V980912 $3,168,000 $-620,800 -16%
March 01, 2013 V980912 removed after 99 days
March 07, 2013 V994101 $2,998,000 $-790,800 -21%
May 30, 2013 V994101 removed after 84 days
June 06, 2013 V1010974 $2,980,000 $-808,800 -21%

v1010974_1

Current Days on Market: 443 (1.21years)
Current ‘Official’ Days on Market: 20
2012 Assessment: $2,058,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 36.5

This home was on the weekly drop back in November where they claimed this home was walking distance to Richmond Center and the sky train stations – a complete lie.  They removed that part of the description 3 months ago but are still $100K above their price from November.  They paid roughly $1.1 million for the lot in 2010 and I’ll be generous and say they put $1 million into the build.  That makes $2.1 million which is close to their assessment – they initially list the place at $3.8 million!!!  I hope I see this one in foreclosure

Prestigious & Popular Broadmoor area in Central Richmond! Rarely find architectural &designer’s mansion w/ 9240Sqft huge lot & 4018Sqft finishing area! A spectacular deluxe custom home featuring quality materials & workmanship, 5 bedroom+1 den+5.5bath+2 kitchen. Grand open foyer w. magnificent crystal chandelier, 16′ high ceiling living RM &nook, tons of drop ceiling & luxury crown moulding, marble entrance hallway, granite counter tops, hardwood flooring upstairs,HRV,Air-con, radiant heating, 3 car garage, lawn sprinkler system, steam bath, home theatre, security system. Walking distance to No.3 RD, Broadmoor shopping center & transportations. Famous Maple Lane Elementary &London Secondary High catchment.Don’t miss yr dream home!


#6 ) Address:7480 CHELSEA RD, Granville, Richmond

September 11, 2010 V849565 $1,038,000 $0 0%
October 08, 2010 V849565 removed after 27 days
January 06, 2012 V923508 $2,998,000 $0 0%
March 13, 2012 V923508 $2,788,800 $-209,200 -7%
April 16, 2012 V923508 removed after 101 days
April 19, 2012 V944294 $2,688,000 $-310,000 -10%
July 16, 2012 V944294 removed after 88 days
July 18, 2012 V962396 $2,588,000 $-410,000 -14%
September 25, 2012 V962396 $2,498,000 $-500,000 -17%
October 10, 2012 V962396 removed after 84 days
October 12, 2012 V976294 $2,498,000 $-500,000 -17%
December 11, 2012 V976294 removed after 60 days
December 20, 2012 V982900 $2,498,000 $-500,000 -17%
December 28, 2012 V982900 $2,398,000 $-600,000 -20%
March 01, 2013 V982900 removed after 71 days
March 07, 2013 V994170 $2,398,000 $-600,000 -20%
April 04, 2013 V994170 $2,288,000 $-710,000 -24%

v994170_1

Current Days on Market: 537 (1.47years)
Current ‘Official’ Days on Market: 111
2012 Assessment: $2,005,000
2011 Assessment: $1,851,000
Desperation Score: 37.6

“Custom built for present owner. For the most discriminating buyer. Right in the centre of million dollar row. Very generous bedrooms.” – nice sentences…  Listed for 50% and $1 million above assessment – now down $700K but still not close to being sold

Custom built for present owner. For the most discriminating buyer. Right in the centre of million dollar row. Very generous bedrooms. First and second master bathroom, both with steam bath. Spectacular craftsmanship of carpentry work. Deluxe maple cabinets, wet bar, built-in cabinets, drop ceilings, crown mouldings, air conditioning, HRV, sprinkler system. Immediate Possession!


#5 ) Address:6111 GARRISON CT, Riverdale, Richmond

June 22, 2011 V895616 $1,590,000 $0 0%
November 08, 2011 V895616 $1,498,000 $-92,000 -6%
January 01, 2012 V895616 removed after 193 days
January 08, 2012 V924009 $1,498,000 $-92,000 -6%
May 01, 2012 V924009 removed after 114 days
June 15, 2012 V956784 $1,650,000 $0 0%
August 25, 2012 V956784 $1,480,000 $-170,000 -10%
October 12, 2012 V956784 removed after 119 days
October 19, 2012 V977268 $1,448,000 $-202,000 -12%
November 14, 2012 V977268 $1,398,000 $-252,000 -15%
January 16, 2013 V977268 removed after 89 days
January 23, 2013 V986401 $1,398,000 $-252,000 -15%
February 01, 2013 V986401 removed after 9 days
February 13, 2013 V990123 $1,368,000 $-282,000 -17%
May 12, 2013 V990123 removed after 88 days
May 21, 2013 V1007450 $1,289,000 $-361,000 -22%

v1007450_1

Current Days on Market: 735 (2.01years)
Current ‘Official’ Days on Market: 36
2012 Assessment: $1,025,000
2011 Assessment: $1,059,000
Desperation Score: 39.1

Listed for over 2 years and still above assessment

In the legendary Riverdale district corner lot lies the excellent custom built residence with excellent workmanship. Centrally located from the Rivergreen & Richmond Olympic Oval Centre, sports & leisure activities always at ease with Thompson Community Centre, schooling at Burnett Secondary & Blair Elementary. Garden curb appeal, brick & stone exterior facade, grand entry with accentuated ceiling height, cross-hall design living & dining room make this house stand tall & proud. Interior details & feature include large gourmet kitchen with wok kitchen, granite counters, 6 bedrooms, 4 baths & 3 car garage. Through the patio door, you will enter an enchanted landscaped garden in the backyard. Some of the few choices you should


#4 ) Address:7620 NO 2 RD, Granville, Richmond

November 17, 2011 V920043 $1,250,000 $0 0%
February 16, 2012 V920043 $1,125,000 $-125,000 -10%
May 01, 2012 V920043 removed after 166 days
June 04, 2012 V954237 $1,049,000 $-201,000 -16%
July 10, 2012 V954237 $998,000 $-252,000 -20%
September 18, 2012 V954237 removed after 106 days
September 21, 2012 V972635 $958,000 $-292,000 -23%
January 23, 2013 V972635 $899,000 $-351,000 -28%
February 26, 2013 V972635 removed after 158 days
March 01, 2013 V993145 $899,000 $-351,000 -28%
April 30, 2013 V993145 $869,000 $-381,000 -30%
June 02, 2013 V993145 $829,000 $-421,000 -34%

v993145_1

Current Days on Market: 587 (1.61years)
Current ‘Official’ Days on Market: 117
2012 Assessment: $961,100
2011 Assessment: $990,100
Desperation Score: 41.1

“Investors and Builders Tremendous Value!”, “This would be a great Rental home (or live in) while the value of the lot increases! Or Build a 4,000 sq ft Mansion now! Or combine with neighcour and build townhouses! Any way you look at it, a great buy”…  Listed for over a year and a half, down 34% and about 15% below assessment (which has also been dropping)

Investors and Builders Tremendous Value! Small Price for a Huge 76 x 120′, 9,120 sq ft lot in Popular West Richmond area steps from Blundell Centre and easy access to Vancouver! This lot is Designated Townhouses if combined with neighbour. Ideal holding Property as lots of life left in the Grand Home and could rent out for $2,000/mo. Its a visual delight with peaked dormers and gables. Interior is also appealing and mechanically sound. 3 bedrooms up, very spacious main floor with updated bright kitchen and large Den. Oozes charm! This would be a great Rental home (or live in) while the value of the lot increases! Or Build a 4,000 sq ft Mansion now! Or combine with neighcour and build townhouses! Any way you look at it, a great buy


#3 ) Address:8620 CADOGAN RD, Lackner, Richmond

June 13, 2010 V834835 $848,000 $0 0%
June 30, 2010 V834835 removed after 17 days
December 25, 2011 V922990 $2,599,000 $0 0%
January 23, 2012 V922990 removed after 29 days
January 25, 2012 V927261 $2,288,000 $-311,000 -12%
March 07, 2012 V927261 removed after 42 days
March 09, 2012 V936232 $2,188,000 $-411,000 -16%
August 14, 2012 V936232 removed after 158 days
August 17, 2012 V966774 $2,098,000 $-501,000 -19%
October 10, 2012 V966774 $2,048,000 $-551,000 -21%
December 04, 2012 V966774 $1,996,000 $-603,000 -23%
January 01, 2013 V966774 removed after 137 days
January 11, 2013 V984569 $1,988,000 $-611,000 -24%
April 02, 2013 V984569 removed after 81 days
May 09, 2013 V1005552 $1,988,000 $-611,000 -24%
June 09, 2013 V1005552 $1,968,000 $-631,000 -24%
June 11, 2013 V1005552 $2,188,800 $-410,200 -16%
June 21, 2013 V1005552 $1,978,000 $-621,000 -24%

v1005552_1

Current Days on Market: 549 (1.50years)
Current ‘Official’ Days on Market: 48
2012 Assessment: $1,955,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 45.4

Another new build sitting for over a year and a half, down $620K (but still higher than pricing from 2 weeks ago) and just above assessment

Spectacular 3706 sq ft home on a large 66 x 124 = 8197 sq ft lot with mountain views. Quiet location next to green space. A little bit different than most other homes this home offers vaulted ceiling in all 4 ensuited bedrooms upstairs. Master bedroom has large ensuite with TV & Sauna, large walk in closet & covered deck. Main floor offers media room with guest bedroom & bathroom plus den, high ceilings in living & family rooms. Dream kitchen with high end appliances with large wok kitchen & 2nd fridge plus granite/quartz counter tops. Excellent street appeal with 3 car garage & electric gate all siding onto a park with mountain views. Central Richmond location near Blundell & No 2 Road.


#2 ) Address:11520 LAPWING CR, Westwind, Richmond

December 25, 2009 V801653 $1,350,000 $0 0%
April 01, 2010 V801653 removed after 97 days
November 12, 2010 V858270 $1,150,000 $-200,000 -15%
January 20, 2011 V858270 removed after 69 days
May 28, 2011 V890796 $1,275,000 $-75,000 -6%
July 26, 2011 V890796 removed after 59 days
January 25, 2012 V927394 $2,050,000 $0 0%
March 03, 2012 V927394 $1,890,000 $-160,000 -8%
October 18, 2012 V927394 $1,595,888 $-454,112 -22%
January 01, 2013 V927394 removed after 342 days
January 27, 2013 V987465 $1,580,000 $-470,000 -23%
February 20, 2013 V987465 $1,480,000 $-570,000 -28%
April 12, 2013 V987465 removed after 75 days
April 15, 2013 V1001263 $1,380,000 $-670,000 -33%
May 04, 2013 V1001263 $1,280,000 $-770,000 -38%
May 30, 2013 V1001263 $1,248,000 $-802,000 -39%

v1001263_1

Current Days on Market: 518 (1.42years)
Current ‘Official’ Days on Market: 72
2012 Assessment: $1,321,000
2011 Assessment: $1,294,000
Desperation Score: 46.4

“”Think” TUSCANY – Italian Villa, Morocco mystic, east Asian influence. ” – well that says it all, doesn’t it?  “Change colors or change arches to square”.  “Excellent floor plan for private home based business” – yeah, like people work in this province?  Too busy flipping real estate and buying cheap milk from Bellingham!!!  After $800K in price drops it is now $73K below assessment and listed below 2009 pricing

WESTWIND – “Think” TUSCANY – Italian Villa, Morocco mystic, east Asian influence. Knock out unique and a FABULOUS property. Quick & easy access to viewing. MUST SEE – Interior delights. Your eyes will pop with excitement & appreciation. Change colors or change arches to square … you can LIVE in your DREAM residence. Excellent floor plan for private home based business or even potential for a side suite on main with separate entrance. 5 Ensuited Bedrooms including one on main. Outstanding Entertainment deck with lovely view of the mountains across the green fields. Come visit & be prepared to be WOWED!


#1 ) Address:6940 NO 1 RD, Riverdale, Richmond

October 06, 2006 V611620 $599,000 $0 0%
January 01, 2007 V611620 removed after 87 days
March 16, 2007 V635573 $599,000 $0 0%
June 11, 2007 V635573 removed after 87 days
January 26, 2011 V865172 $799,000 $0 0%
February 09, 2011 V865172 $889,000 $0 0%
March 09, 2011 V865172 removed after 42 days
January 07, 2012 V923891 $1,878,000 $0 0%
February 15, 2012 V923891 $1,750,000 $-128,000 -7%
February 28, 2012 V923891 removed after 52 days
March 01, 2012 V934428 $1,699,000 $-179,000 -10%
May 29, 2012 V934428 $1,649,000 $-229,000 -12%
June 18, 2012 V934428 removed after 109 days
June 23, 2012 V958156 $1,548,880 $-329,120 -18%
July 12, 2012 V958156 $1,499,000 $-379,000 -20%
July 16, 2012 V958156 removed after 23 days
July 19, 2012 V962746 $1,448,000 $-430,000 -23%
January 18, 2013 V962746 removed after 183 days
February 28, 2013 V992753 $1,489,000 $-389,000 -21%
March 12, 2013 V992753 $1,368,000 $-510,000 -27%
March 25, 2013 V992753 removed after 25 days
May 02, 2013 V1004337 $1,479,000 $-399,000 -21%
May 30, 2013 V1004337 $1,418,800 $-459,200 -24%
June 19, 2013 V1004337 $1,389,800 $-488,200 -26%

v1004337_1

Current Days on Market: 536 (1.47years)
Current ‘Official’ Days on Market: 55
2012 Assessment: $1,642,000
2011 Assessment: Building Unfinished at time of assessment
Desperation Score: 50.5

This relatively well priced new build has been sitting for a year and a half, is now $250K below assessment has had 9 price drops and 2 price increases and is still above the price it didn’t sell at earlier this spring

Brand new luxury home at a very convenient west Richmond location. Over 3500 sq ft home, high-ceiling in living and family room, deluxe kitchen granite counter, stainless steel appliances, wok kitchen, tasteful colour scheme, engineered hardwood floors on the main and carpet upstairs, blinds throughout the house. 1 bedroom large legal suite, 4 ensuite bedrooms upstairs, air-conditioning, 3 car garage, HRV, electric gate, the list goes on, come and tour the home.

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Richmond Spotlight – November 4, 2012

It’s been a month so once again here are the top 10 properties currently listed in Richmond with the largest overall drop in asking price since early March.

Some Highlights

  • It now takes a 25% drop to make this top 10.  The previous 4 months were all at 23%
  • 4 of 9 listings are now below assessment

#10 ) Address:# 4W2 8191 RIVER RD, West Cambie, Richmond

September 01 V968804 $238,800 $0 0%
September 22 V968804 $198,900 $-39,900 -17%
Open House: Sep 29
October 27 V968804 $178,800 $-60,000 -25%

Assessment: $162,600

Lovely little one bedroom and office float home in like new condition. Two patios, one covered, both face south towards the Olympic Oval and swans and ducks on the river. Lots of windows and light in this charming home. Appliances, Fisher/Paykel French door fridge, Maytag 3000 series washer and dryer, range, and microwave are all like new. Relaxed float home community is very friendly and safe. Location is handy to the Vancouver International Airport, River Rock Casino, rapid transit to Downtown Vancouver on the Canada Line and local shopping in Richmond. Open House: Sat, Sept 29th, 1-3 PM.


#9 ) Address:# 8 23740 DYKE RD, Hamilton, Richmond

March 09 V867144 $2,527,000 $0 0%
April 28 V867144 removed
May 04 V947680 $1,842,800 $-684,200 -27%

Assessment: No Assessment

BLUE HERON MARINA ESTATES! New WATERFRONT Detached South Facing Executive Homes with your own concrete dock. As part of Strata Community and Marina, you will have the peace of mind that the Marina services include overseeing your property & boat. Located in the banks of the South Arm Fraser River, in a calm protected channel with deep fresh water moorage. Imagine, living on the water’s edge in your own waterfront home and enjoying the magnificent view of the water and mountains with your own Yacht moored on your own private dock. High end finishing with a elevator in each of 9 homes! Ground flr has very large garage for 4 cars & large Flex area.Maintenance strata fee $ 145.


#8 ) Address:# 212 14200 RIVERPORT WY, East Richmond, Richmond

March 09 V934864 $498,500 $0 0%
April 12 V934864 removed
April 14 V943239 $459,900 $-38,600 -8%
April 28 V943239 $449,900 $-48,600 -10%
May 11 V943239 $435,000 $-63,500 -13%
June 09 V943239 $424,500 $-74,000 -15%
June 19 V943239 $415,000 $-83,500 -17%
July 10 V943239 $399,900 $-98,600 -20%
July 28 V943239 $389,900 $-108,600 -22%
September 05 V943239 $372,500 $-126,000 -25%
October 11 V943239 $362,900 $-135,600 -27%

Assessment: $432,000

4 units sold in this apartment last year for an average of 6% ABOVE assessment and this unit is now listed 16% BELOW assessment.

SPECTACULAR RIVER VIEWS FROM YOUR SOUTH FACING BALCONY. THIS 2 BED/ 2 BATH WATERFRONT CONDO IS LARGE, OVER 1100 SQ. FT. WITH A BONUS DEN, LOCKER, IN SUITE LAUNDRY AND STORAGE ROOM.


#7 ) Address:# TH6 8160 LANSDOWNE RD, Brighouse, Richmond

March 24 V939119 $788,000 $0 0%
April 05 V939119 $686,000 $-102,000 -13%
Open House: May 20
Open House: May 26
June 06 V939119 $598,000 $-190,000 -24%
Open House: Jun 17
June 25 V939119 removed
August 10 V965739 $659,000 $-129,000 -16%
Open House: Aug 11
Open House: Aug 12
Open House: Aug 18
Open House: Aug 19
October 02 V965739 removed
October 04 V974895 $588,000 $-200,000 -25%
November 02 V974895 $568,000 $-220,000 -28%

Assessment: $603,000

Located in Central Richmond, steps to skytrain, Lansdowne Mall, Kwantlen University. This building offers: concierge service, 2 guest suites, pool table & games room, exercise center & steam room & sauna. Located within easy distance to skytrain, shopping & restaurants. Beautiful front patio with trees, flowers & plants. Recent renovation on flooring & bathrooms. Perfect condition & ready for quick possession.


#6 ) Address:4840 FISHER DR, West Cambie, Richmond

March 09 V923733 $1,350,000 $0 0%
June 04 V923733 removed
October 14 V976718 $950,000 $-400,000 -30%

Assessment: $919,000

Quality, bright & spacious 3429 sf home with 5 bedrooms + den, 5 bathrooms & 2 kitchens, (separate entrance for suite down). Well kept. South facing. Convenient location. All measurements are approximate. Buyer to verify.


#5 ) Address:3120 SATURNA PL, Quilchena, Richmond

June 07 V955043 $2,590,000 $0 0%
Open House: Jun 09
Open House: Jun 10
Open House: Jun 23
Open House: Aug 19
Open House: Sep 08
October 02 V955043 $2,390,000 $-200,000 -8%
October 24 V955043 $1,799,990 $-790,010 -31%
Open House: Oct 27

Assessment: $1,277,000

Distinguished brand new home just finished! Nearly 9400 sq ft lot with 4143 sq ft super solid house sitting in quiet cul-de-sac along prime Quilchena Golf Course in West Richmond. Thoughtful planning on strength and durability plus extra attention to enduring craftsmanship. Reinforced concrete foundation, carved metal entrance door & sound-proof insulation between each room makes this home special. Wood circle stairs & remote controlled electronic curtains are just other additions to the must haves: 5 bedrooms & 5 bathrooms (4 ensuite), huge chandelier, sauna & gym room with exposure to private backyard. Security TV, HRV, radiant heat, air-conditioning, outdoor sprinkler, huge deck & triple car garage. Open House Sun Nov 4th, 2-4pm.


#4 ) Address:# 507 5911 MINORU BV, Brighouse, Richmond

May 26 V826361 $98,000 $0 0%
June 14 V826361 $89,000 $-9,000 -9%
May 01 V826361 $66,000 $-32,000 -33%

Assessment: $58,400

3 units sold in this apartment last year for an average of 1% ABOVE assessment.  This unit is currently listed at 13% ABOVE assessment

Investors should take note!! A fully furnished hotel suite in the Hilton Vancouver Airport Hotel at the heart of DT Richmond!! Effluent Richmond is the Pacific Gateway to Canada, and with its well-educated and skilled work forces, attracts myriads of mega multi-national business establishments. Hilton Vancouver Airport Hotel is close to YVR International, large shopping malls, schools and university, banking facilities, library, sports centres, and other major Downtown essentials like fine ethnic and gourmet restaurants, fine arts, entertainment attractions, convenient public transportation, and the new Canada Line Rapid Transit System which connects to Downtown Vancouver in a mere 20 minutes or so. This is a good piece of real estate investment with steady return on investment. Seller is motivated, and will look at all reasonable offers. Be part of the clean lifestyle or environmental friendly Richmond. Don’t miss out!!


#3 ) Address:4219 FRANCIS RD, Boyd Park, Richmond

March 09 V923921 $1,349,000 $0 0%
March 24 V923921 removed
May 30 V953229 $1,068,000 $-281,000 -21%
October 01 V953229 removed
October 05 V975209 $899,000 $-450,000 -33%

Assessment: $851,000

Well kept rancher with marble tiled entrance and cedar vaulted ceilings throughout. Bright and spacious floor plan. All rooms are large and spacious. The rec room opens onto an enormous deck, perfect for family gatherings. The home is situated right across the Hugh Boyd School. Close to transportation, shopping and recreation. A pleasure to show.


#2 ) Address:7980 GOLDSTREAM PL, Broadmoor, Richmond

May 19 V951161 $1,498,000 $0 0%
August 14 V951161 $1,298,000 $-200,000 -13%
October 12 V951161 removed
October 14 V976621 $998,000 $-500,000 -33%

Assessment: $1,198,600

Well maintained 3 bdrm 2.5 bath rancher with games room over the double garage in desirable Maple Lane subdivision, home has been lovingly cared for and is perfect to live in now and rebuild later. Original hardwood floors, 2 fireplaces, nice sprawling plan on one level. Private and huge 11622 sq ft lot in quiet cul de sac, this park like lot is a great place to build your dream home. Great location close to all amenities. Exclusions are drapes in liv/din, light fixture in family room, chandelier in dining room. More photos at realtor’s website.


#1 ) Address:18700 RIVER RD, East Richmond, Richmond

April 26 V945639 $1,210,900 $0 0%
May 23 V945639 $1,139,750 $-71,150 -6%
June 21 V945639 $1,110,900 $-100,000 -8%
July 24 V945639 $779,900 $-431,000 -36%
August 23 V945639 $756,900 $-454,000 -37%
September 25 V945639 $734,900 $-476,000 -39%
October 25 V945639 $719,900 $-491,000 -41%

 

Assessment: $841,800

2.29 AC (99,752 sq ft) acreage on River Rd in North Richmond. Easy access to Vancouver via Knight Street Bridge & Hamilton (East Richmond) featuring all amenities & large shopping centre. Excellent holding property, 3 bedroom house tenanted. Hold now or build your dream home. The Vendor will not accept any offers to purchase from any individual that is an employee of Toronto Dominion Bank or any of its subsidiaries or affiliated corporations”

Spotlight Richmond – September 24, 2012

It’s been a month so once again here are the top 10 properties currently listed in Richmond with the largest overall drop in asking price since early March.  Please note that the listings are now in reverse order so starting with #10 and going up to #1

Some Highlights

  • It takes a 23% drop to make this top 10.  The previous 4 months were 23%, 23%, 23% and 19%
  • 5 of 7 listings are now below assessment

#10 ) Address:# 307 7288 NO 3 RD, Brighouse South, Richmond

July 15 V900296 $520,000 $0 0%
August 03 V900296 $495,000 $-25,000 -5%
August 12 V900296 $459,900 $-60,100 -12%
October 05 V900296 $448,900 $-71,100 -14%
May 11 V900296 $428,800 $-91,200 -18%
July 05 V900296 $413,800 $-106,200 -20%
September 13 V900296 $399,900 $-120,100 -23%

Assessment: $480,000

5 units sold in this complex last year for an average of 3% BELOW assessment.  This one is currently listed 17% BELOW assessment.  Can you really call something on the 3rd floor a “Great penthouse condo”???

Great penthouse condo. Feels like a townhouse with it’s own outside entrance. Spacious 3 bedroom, 2 bathroom & open den with large sunny balcony. The building was rainscreened last year, new hot water tank, new roof, new hardiplank siding, courtyard membrane & pavers, building envelope was redone and fresh paint…over $120,000 was assessed and paid in 2009. Convenient to Richmond centre & Park Road for shopping, many…many restaurants and the Canada Line, City Hall, swimming pools, schools and so much more.


#9 ) Address:# 2 23740 DYKE RD, Hamilton, Richmond

March 09 V867139 $2,455,000 $0 0%
April 28 V867139 removed
May 04 V947601 $1,863,000 $-592,000 -24%

Assessment: No Assessment

Blue Heron Marina estates is in the top 10 list 2 times.  This development as been advertised for over a year and to date none of the 9 units have been sold and I don’t believe any have been built although not entirely sure about this.  The renderings make the murky brown Fraser river look like the Bahamas but no suckers at the moment.  Between the 9 units they have dropped over $4 million.

BLUE HERON MARINA ESTATES! New WATERFRONT Detached South Facing Executive Homes with your own concrete dock. As part of a Strata Community & Marina, you will have the peace of mind that the Marina services include overseeing your property & boat. Located in the banks of the South Arm Fraser River, in a calm protected channel with deep fresh water moorage. Imagine, living on the water’s edge in your own waterfront home and enjoying the magnificent view of the water with your Yacht moored on your own private dock. High end finishing with an elevator in each home! The ground flr has 2 garage for 4 cars & a good size flex area. Maintenance fees are strata $ 135.


#8 ) Address:3560 BARMOND AV, Seafair, Richmond

March 09 V923719 $1,260,000 $0 0%
May 01 V923719 removed
June 02 V953921 $950,000 $-310,000 -25%
Open House: Jun 02

Assessment: $1,029,700
Last Sale: $1,168,000 on 17/Feb/2011
Total Loss IF sold for list price: 58,560 transaction costs and 218,000 loss on sale = LOSS of 276,560

Assuming 20% down on this home when they bought it last year, they have suffered more than a -100% ROI.  The magic of leverage.

No Picture

Good location,walk to facilities in few minutes.In the Seafair area,this good home offers 3 good size bedroom plus game room up, living room and dining room & family room down with a very open layout. Don’t miss the chance to live or invest in the best location and neighbourhood of Richmond.


#7 ) Address:6428 CHELMSFORD ST, Granville, Richmond

March 09 V917053 $2,398,000 $0 0%
July 24 V917053 removed
July 26 V963719 $1,800,000 $-598,000 -25%

Assessment: $1,597,000

Own this magnificent home in a multi-million dollar neighborhood. The entrance foyer boosts a 16 ft ceiling, gleaming chandelier & marble floors. The dramatic curved staircase leads to the upper floor with a high ceiling & dome-shaped skylight along the hallway. The open floor plan kitchen has S/S appliances, wood cabinets & granite countertops. There is an ample space for dining in the breakfast bar, informal & dining rooms. Have your gatherings in the family room which has a warm & cozy fireplace & wet bar. Treat yourself in your own spacious spa tub & sauna. The master bedroom is so huge & has two separate walk in closets & ensuite 5 pce bathroom. Buy it now!


#6 ) Address:# 212 14200 RIVERPORT WY, East Richmond, Richmond

March 09 V934864 $498,500 $0 0%
April 12 V934864 removed
April 14 V943239 $459,900 $-38,600 -8%
April 28 V943239 $449,900 $-48,600 -10%
May 11 V943239 $435,000 $-63,500 -13%
June 09 V943239 $424,500 $-74,000 -15%
June 19 V943239 $415,000 $-83,500 -17%
July 10 V943239 $399,900 $-98,600 -20%
July 28 V943239 $389,900 $-108,600 -22%
September 05 V943239 $372,500 $-126,000 -25%

Assessment: $432,000

4 units sold in this apartment last year for an average of 6% ABOVE assessment and this unit is now listed 14% BELOW assessment.  HEY REALTOR, WHY ARE YOU YELLING???

SPECTACULAR RIVER VIEWS FROM YOUR SOUTH FACING BALCONY. THIS 2 BED/ 2 BATH WATERFRONT CONDO IS LARGE, OVER 1100 SQ. FT. WITH A BONUS DEN, LOCKER, IN SUITE LAUNDRY AND STORAGE ROOM.


#5 ) Address:7288 GILHURST CR, Broadmoor, Richmond

April 14 V943189 $2,580,000 $0 0%
May 18 V943189 $2,490,000 $-90,000 -3%
Open House: May 27
Open House: Jun 02
Open House: Jun 10
Open House: Jul 08
Open House: Jul 15
July 14 V943189 $2,290,000 $-290,000 -11%
Open House: Jul 22
September 01 V943189 $1,899,000 $-681,000 -26%
Open House: Sep 08

Assessment: $2,030,000

“The owner treat it as vacation home.”  Well let’s hope this vacation home is a massive money losing venture for the owner.

Tastefully deluxe custom-built house in central Richmond Broadmoor area, decorated with 5 star 2 master bedrooms, huge 2 kitchen with special antique cabinet & high end BOSS appliance. Main floor marble foyer/hardwood floor. Air condition and HRV system. Nature stone exterior with underground sprinkle. Living room and family room with gorgeous drop ceiling and crown moulding everywhere. Close to London High School. The owner treat it as vacation home.


#4 ) Address:# 8 23740 DYKE RD, Hamilton, Richmond

March 09 V867144 $2,527,000 $0 0%
April 28 V867144 removed
May 04 V947680 $1,842,800 $-684,200 -27%

Assessment: No Assessment

BLUE HERON MARINA ESTATES! New WATERFRONT Detached South Facing Executive Homes with your own concrete dock. As part of Strata Community and Marina, you will have the peace of mind that the Marina services include overseeing your property & boat. Located in the banks of the South Arm Fraser River, in a calm protected channel with deep fresh water moorage. Imagine, living on the water’s edge in your own waterfront home and enjoying the magnificent view of the water and mountains with your own Yacht moored on your own private dock. High end finishing with a elevator in each of 9 homes! Ground flr has very large garage for 4 cars & large Flex area.Maintenance strata fee $ 145.


#3 ) Address:# 507 5911 MINORU BV, Brighouse, Richmond

May 26 V826361 $98,000 $0 0%
June 14 V826361 $89,000 $-9,000 -9%
May 01 V826361 $66,000 $-32,000 -33%

Assessment: $58,400

3 units sold in this apartment last year for an average of 1% ABOVE assessment.  This unit is currently listed at 13% ABOVE assessment and was initially listed for 70% ABOVE assessment…  Also, and thanks for pointing this out, “Effluent Richmond” where Effluent is defined as  “sewage or other liquid waste that is discharged into a bodyof water”.  Awesome stuff!

Investors should take note!! A fully furnished hotel suite in the Hilton Vancouver Airport Hotel at the heart of DT Richmond!! Effluent Richmond is the Pacific Gateway to Canada, and with its well-educated and skilled work forces, attracts myriads of mega multi-national business establishments. Hilton Vancouver Airport Hotel is close to YVR International, large shopping malls, schools and university, banking facilities, library, sports centres, and other major Downtown essentials like fine ethnic and gourmet restaurants, fine arts, entertainment attractions, convenient public transportation, and the new Canada Line Rapid Transit System which connects to Downtown Vancouver in a mere 20 minutes or so. This is a good piece of real estate investment with steady return on investment. Seller is motivated, and will look at all reasonable offers. Be part of the clean lifestyle or environmental friendly Richmond. Don’t miss out!!


#2 ) Address:11400 NO 2 RD, Gilmore, Richmond

September 03, 2011 V908283 $12,800,000 $0 0%
January 11 V908283 $8,500,000 $-4,300,000 -34%

Assessment: Farm Land

I bet they wished they listed in spring of 2011 – they might have got asking.  Now on the other hand they probably have millions more to go

Excellent Holding Property in Steveston. Property is located on No 2 Road, just south on Steveston Hwy. 26.6 acres in the ALR (Agricultural Land Reserve) across the street from development.


#1 ) Address:18700 RIVER RD, East Richmond, Richmond

April 26 V945639 $1,210,900 $0 0%
May 23 V945639 $1,139,750 $-71,150 -6%
June 21 V945639 $1,110,900 $-100,000 -8%
July 24 V945639 $779,900 $-431,000 -36%
August 23 V945639 $756,900 $-454,000 -37%

Assessment: $841,800

“The Vendor will not accept any offers to purchase from any individual that is an employee of Toronto Dominion Bank or any of its subsidiaries or affiliated corporations” I believe this means that it is going through a foreclosure and that TD is handling the foreclosure.  Either that or they really have a problem with the chequing fees at TD Bank!

2.26 AC (99,752 sq ft) acreage on River Rd in North Richmond. Easy access to Vancouver via Knight Street Bridge & Hamilton (East Richmond) featuring all amenities & large shopping centre. Excellent holding property, 3 bedroom house tenanted. Hold now or build your dream home. The Vendor will not accept any offers to purchase from any individual that is an employee of Toronto Dominion Bank or any of its subsidiaries or affiliated corporations”

Richmond Spotlight – August 25, 2012

Here are the top 10 properties currently listed in Richmond with the largest overall drop in asking price since early March

Some Highlights

  • It takes a 23% drop to make this top 10, the same level as the last two months
  • 2 of 5 listings with assessment are now listed below assessment
  • Three listings are from Brighouse
  • #1 had a reality check in July.  After slowly dropping their price from $1.2 million to $1.1 million they decided to just dump the property or induce a bidding war by dropping to $780K.  But nobody came…
  • #4 trivia questions: What is the only thing that sells slower than a Richmond apartment?  A Richmond apartment on a lease hold
  • #5 and #8 are from a development that also includes 7 other listings all littering the top 20 in Richmond
  • #7 is a flip gone very, very bad.  They bought in Richmond at what will likely be the highest peak for that city you’ll see in the next quarter century and now are trying to sell for a $218K loss not to mention another probably $80K in various realtor and transfer fees.  Their last price drop was in June – this one won’t end well.

#1 ) Address:18700 RIVER RD, East Richmond, Richmond

April 26 V945639 $1,210,900 $0 0%
May 23 V945639 $1,139,750 $-71,150 -6%
June 21 V945639 $1,110,900 $-100,000 -8%
July 24 V945639 $779,900 $-431,000 -36%
August 23 V945639 $756,900 $-454,000 -37%

Assessment: $841,800

2.26 AC (99,752 sq ft) acreage on River Rd in North Richmond. Easy access to Vancouver via Knight Street Bridge & Hamilton (East Richmond) featuring all amenities & large shopping centre. Excellent holding property, 3 bedroom house tenanted. Hold now or build your dream home. The Vendor will not accept any offers to purchase from any individual that is an employee of Toronto Dominion Bank or any of its subsidiaries or affiliated corporations”


#2 ) Address:11400 NO 2 RD, Gilmore, Richmond

September 03 V908283 $12,800,000 $0 0%
January 11 V908283 $8,500,000 $-4,300,000 -34%

Assessment: Farm land – value set by BC Regulation 

Excellent Holding Property in Steveston. Property is located on No 2 Road, just south on Steveston Hwy. 26.6 acres in the ALR (Agricultural Land Reserve) across the street from development.


#3 ) Address:# 507 5911 MINORU BV, Brighouse, Richmond

May 26 V826361 $98,000 $0 0%
June 14 V826361 $89,000 $-9,000 -9%
May 01 V826361 $66,000 $-32,000 -33%

Assessment: $58,400

Investors should take note!! A fully furnished hotel suite in the Hilton Vancouver Airport Hotel at the heart of DT Richmond!! Effluent Richmond is the Pacific Gateway to Canada, and with its well-educated and skilled work forces, attracts myriads of mega multi-national business establishments. Hilton Vancouver Airport Hotel is close to YVR International, large shopping malls, schools and university, banking facilities, library, sports centres, and other major Downtown essentials like fine ethnic and gourmet restaurants, fine arts, entertainment attractions, convenient public transportation, and the new Canada Line Rapid Transit System which connects to Downtown Vancouver in a mere 20 minutes or so. This is a good piece of real estate investment with steady return on investment. Seller is motivated, and will look at all reasonable offers. Be part of the clean lifestyle or environmental friendly Richmond. Don’t miss out!!


#4 ) Address:# 217 6420 BUSWELL ST, Brighouse, Richmond

May 05 V947909 $189,900 $0 0%
June 07 V947909 $134,900 $-55,000 -29%
August 25 V947909 $129,900 $-60,000 -32%

Assessment: No Assessment available

INVESTORS – this is the perfect apartment as 100% RENTALS ARE ALLOWED. Bright, west facing home with sliding doors to the balcony. Under building parking and storage on the same floor. Maintenance includes management fee, property tax, water, garbage, heat and hot water. Pre-paid lease until 2073. Exceptional location close to shopping, recreation, restuarants and the Canada Line. Immediate possession possible.


#5 ) Address:# 8 23740 DYKE RD, Hamilton, Richmond

March 09 V867144 $2,527,000 $0 0%
April 28 V867144 removed
May 04 V947680 $1,842,800 $-684,200 -27%

Assessment: No Assessment

BLUE HERON MARINA ESTATES! New WATERFRONT Detached South Facing Executive Homes with your own concrete dock. As part of Strata Community and Marina, you will have the peace of mind that the Marina services include overseeing your property & boat. Located in the banks of the South Arm Fraser River, in a calm protected channel with deep fresh water moorage. Imagine, living on the water’s edge in your own waterfront home and enjoying the magnificent view of the water and mountains with your own Yacht moored on your own private dock. High end finishing with a elevator in each of 9 homes! Ground flr has very large garage for 4 cars & large Flex area.Maintenance strata fee $ 145.


#6 ) Address:6428 CHELMSFORD ST, Granville, Richmond

March 09 V917053 $2,398,000 $0 0%
July 24 V917053 removed
July 26 V963719 $1,800,000 $-598,000 -25%

Assessment: $1,597,000

Own this magnificent home in a multi-million dollar neighborhood. The entrance foyer boosts a 16 ft ceiling, gleaming chandelier & marble floors. The dramatic curved staircase leads to the upper floor with a high ceiling & dome-shaped skylight along the hallway. The open floor plan kitchen has S/S appliances, wood cabinets & granite countertops. There is an ample space for dining in the breakfast bar, informal & dining rooms. Have your gatherings in the family room which has a warm & cozy fireplace & wet bar. Treat yourself in your own spacious spa tub & sauna. The master bedroom is so huge & has two separate walk in closets & ensuite 5 pce bathroom. Buy it now!


#7 ) Address:3560 BARMOND AV, Seafair, Richmond

March 09 V923719 $1,260,000 $0 0%
May 01 V923719 removed
June 02 V953921 $950,000 $-310,000 -25%
Open House: Jun 02

Assessment: $1,029,700 and purchased Feb 17, 2011 for $1,168,000

Good location,walk to facilities in few minutes.In the Seafair area,this good home offers 3 good size bedroom plus game room up, living room and dining room & family room down with a very open layout. Don’t miss the chance to live or invest in the best location and neighbourhood of Richmond.


#8 ) Address:# 2 23740 DYKE RD, Hamilton, Richmond

March 09 V867139 $2,455,000 $0 0%
April 28 V867139 removed
May 04 V947601 $1,863,000 $-592,000 -24%

Assessment: No Assessment

BLUE HERON MARINA ESTATES! New WATERFRONT Detached South Facing Executive Homes with your own concrete dock. As part of a Strata Community & Marina, you will have the peace of mind that the Marina services include overseeing your property & boat. Located in the banks of the South Arm Fraser River, in a calm protected channel with deep fresh water moorage. Imagine, living on the water’s edge in your own waterfront home and enjoying the magnificent view of the water with your Yacht moored on your own private dock. High end finishing with an elevator in each home! The ground flr has 2 garage for 4 cars & a good size flex area. Maintenance fees are strata $ 135.


#9 ) Address:# 1107 5911 MINORU BV, Brighouse, Richmond

March 09 V913300 $121,999 $0 0%
March 28 V913300 removed
April 13 V942730 $102,999 $-19,000 -16%
June 19 V942730 $93,900 $-28,099 -23%

Assessment: $73,100

Own a great investment in downtown Richmond. Airport Hilton Hotel, completely managed and operated. Great location, fantastic view from the 11th floor.


#10 ) Address:11651 WOODHEAD RD, East Cambie, Richmond

January 06 V923762 $2,199,900 $0 0%
February 14 V923762 $1,998,000 $-201,900 -9%
May 17 V923762 $1,849,000 $-350,900 -16%
June 19 V923762 $1,789,000 $-410,900 -19%
July 26 V923762 $1,699,000 $-500,900 -23%

Assessment: No Assessment

Custom Built Luxury Executive 7 Bedroom 5990 Sq Ft Family home on 15,800 Sq Ft Lot. Home is located across from the California Point Subdivision. Offers open entry with Elegant Living/Dining Rooms for Entertaining, Spacious Den for Home Office. Gourmet Kitchen with top of the line Cabinets, Granite Countertops and Stainless Steel Appliances. Open High Ceiling in Family Room with Gas Fireplace and view of the Rear Yard. Upper Floor has 5 Bedrooms with 3Ensuites, Media Room with Bar. Triple garage, all modern features. This is an ideal home for a growing family with room for Nanny/In laws, must see to appreciate the quality of workmanship and the conveniences of easy access to Oak/Knight St bridges, shopping Park/Schools etc…

Richmond Spotlight – July 22, 2012

Here are the top 10 properties currently listed in Richmond with the largest overall drop in asking price since early March.  I have also created new categories in the category list so that you can find the previous regional spotlights for each region more easily.  This is a work in progress though so will take a little bit before everything is updated

Some Highlights

  • It takes a 23% drop to make this top 10, the same as last month and higher than the 19% from two months ago
  • Brighouse is the top area in the list with 4 listings in the top 10 drops including 3 from the same building!
  • Only 1 unit listed below assessment and it also happens to be listed for over $200K below what the owner paid for it last year.  It has been 7 weeks since it listed at that price!

Address:# 910 5911 MINORU BV, Brighouse, Richmond

March 09 V933002 $99,900 $0 0%
May 09 V933002 $66,000 $-33,900 -34%

Assessment: $64,800

Own a great investment in Downtown Richmond! Airport Hilton Hotel. Located in heart of Richmond. Completely managed & operated w/potential income. Units owner could enjoy benefits which include 30 day per year of personal use at 50% discount rate. Free use of hotel exercise facilities, hotel swimming pool, hotel tennis court & 25% discount on food at hotel restaurant, lounge or room service.


Address:6140 MARA CR, Granville, Richmond

March 09 V931950 $1,938,000 $0 0%
March 20 V931950 removed
March 22 V938480 $1,879,000 $-59,000 -3%
April 03 V938480 removed
April 25 V945428 $1,897,000 $-41,000 -2%
May 23 V945428 $1,879,000 $-59,000 -3%
June 04 V945428 removed
June 07 V954888 $1,719,000 $-219,000 -11%
June 14 V954888 removed
June 21 V957754 $1,299,000 $-639,000 -33%
Open House: Jun 23
Open House: Jun 24
July 13 V957754 $1,298,000 $-640,000 -33%

Assessment: Building Unfinished at time of Assessment

This 5 bedroom home boasts 6 bathrooms, theatre room, enclosed patio & a grand entrance. It features include 120 inch projector & screen in media room, crystal chandeliers, A/C & HRV, Bosch appls, 10′ ceilings. This custom home has a very unique, functional floor plan. The master features a double jacuzzi & a steam shower with multiple shower heads. A gorgeous home built by reputable builder Heritage Lane HOmes with 2-5-10 yr warranty is a must see. Burnett & Brighouse are the schools in the area. At this price it will not last long, pls call LS now to book your viewing or come Sat or Sun to our Open House. Last accepted offer did not remove financing subjects. All offers presented on Sunday after open house


Address:# 7W2 8191 RIVER RD, West Cambie, Richmond

March 14 V937016 $124,900 $0 0%
April 13 V937016 $114,900 $-10,000 -8%
May 23 V937016 $104,900 $-20,000 -16%
June 22 V937016 $94,900 $-30,000 -24%
Open House: Jun 23
July 19 V937016 $84,900 $-40,000 -32%

Assessment: $83,600

A hidden “WATERFRONT OASIS” in the center of Richmond just steps from the Canada Line. Enjoy life on the river in this cozy 800 sq.ft. one bedroom, 2 bathroom updated float-home. The open concept floor plan boasts a newer kitchen and appliances with updated paint, flooring and baths. Capture the views while relaxing on the rooftop deck or feed the ducks from your doorstep. Imagine…Why rent when you can own your own affordable waterfront home. Monthly moorage fees $710 incl. hydro, water, garbage.


Address:# 217 6420 BUSWELL ST, Brighouse, Richmond

May 05 V947909 $189,900 $0 0%
June 07 V947909 $134,900 $-55,000 -29%

Assessment: No Assessment Available

INVESTORS – this is the perfect apartment as 100% RENTALS ARE ALLOWED. Bright, west facing home with sliding doors to the balcony. Under building parking and storage on the same floor. Maintenance includes management fee, property tax, water, garbage, heat and hot water. Pre-paid lease until 2073. Exceptional location close to shopping, recreation, restuarants and the Canada Line. Immediate possession possible.


Address:# 8 23740 DYKE RD, Hamilton, Richmond

March 09 V867144 $2,527,000 $0 0%
April 28 V867144 removed
May 04 V947680 $1,842,800 $-684,200 -27%

Assessment: No Assessment Available

BLUE HERON MARINA ESTATES! New WATERFRONT Detached South Facing Executive Homes with your own concrete dock. As part of Strata Community and Marina, you will have the peace of mind that the Marina services include overseeing your property & boat. Located in the banks of the South Arm Fraser River, in a calm protected channel with deep fresh water moorage. Imagine, living on the water’s edge in your own waterfront home and enjoying the magnificent view of the water and mountains with your own Yacht moored on your own private dock. High end finishing with a elevator in each of 9 homes! Ground flr has very large garage for 4 cars & large Flex area.Maintenance strata fee $ 145.


Address:# 507 5911 MINORU BV, Brighouse, Richmond

March 09 V826361 $89,000 $0 0%
May 01 V826361 $66,000 $-23,000 -26%

Assessment: $58,400

Investors should take note!! A fully furnished hotel suite in the Hilton Vancouver Airport Hotel at the heart of DT Richmond!! Effluent Richmond is the Pacific Gateway to Canada, and with its well-educated and skilled work forces, attracts myriads of mega multi-national business establishments. Hilton Vancouver Airport Hotel is close to YVR International, large shopping malls, schools and university, banking facilities, library, sports centres, and other major Downtown essentials like fine ethnic and gourmet restaurants, fine arts, entertainment attractions, convenient public transportation, and the new Canada Line Rapid Transit System which connects to Downtown Vancouver in a mere 20 minutes or so. This is a good piece of real estate investment with steady return on investment. Seller is motivated, and will look at all reasonable offers. Be part of the clean lifestyle or environmental friendly Richmond. Don’t miss out!!


Address:3560 BARMOND AV, Seafair, Richmond

March 09 V923719 $1,260,000 $0 0%
May 01 V923719 removed
June 02 V953921 $950,000 $-310,000 -25%
Open House: Jun 02

Assessment: $1,029,700 and sold for $1,168,000 Feb, 2011

No Picture

Good location,walk to facilities in few minutes.In the Seafair area,this good home offers 3 good size bedroom plus game room up, living room and dining room & family room down with a very open layout. Don’t miss the chance to live or invest in the best location and neighbourhood of Richmond.


Address:# 2 23740 DYKE RD, Hamilton, Richmond

March 09 V867139 $2,455,000 $0 0%
April 28 V867139 removed
May 04 V947601 $1,863,000 $-592,000 -24%

Assessment: No Assessment Available

BLUE HERON MARINA ESTATES! New WATERFRONT Detached South Facing Executive Homes with your own concrete dock. As part of a Strata Community & Marina, you will have the peace of mind that the Marina services include overseeing your property & boat. Located in the banks of the South Arm Fraser River, in a calm protected channel with deep fresh water moorage. Imagine, living on the water’s edge in your own waterfront home and enjoying the magnificent view of the water with your Yacht moored on your own private dock. High end finishing with an elevator in each home! The ground flr has 2 garage for 4 cars & a good size flex area. Maintenance fees are strata $ 135.


Address:11760 MELLIS DR, East Cambie, Richmond

April 25 V945449 $2,199,000 $0 0%
May 01 V945449 removed
May 03 V947093 $1,988,000 $-211,000 -10%
May 23 V947093 $1,799,000 $-400,000 -18%
June 04 V947093 removed
June 07 V954891 $1,679,000 $-520,000 -24%

Assessment: $1,532,000

Absolutely beautiful home built by reputable builder Heritage Lane Homes. This home is on a Picture Perfect Tree lined street in one of the nicest neighborhoods of the East Cambie area. Maple cabilnets, top of the line appliances, granite counters, gorgeous finishings throughout This home comes with all the bells and whistles including A/C, HRV system, 120 inch screen with full honme theatre, designer colors with open concept layout. South facing backyard with your very own putting green and 2 sound ptoof suites generating $1500/month. Show with confidence as this is one of the nicest houses in the entire Cambie area and is a stones throw from Vaneouver. Absolutely no showings to Builders pls. Serious buyers only.


Address:# 1107 5911 MINORU BV, Brighouse, Richmond

March 09 V913300 $121,999 $0 0%
March 28 V913300 removed
April 13 V942730 $102,999 $-19,000 -16%
June 19 V942730 $93,900 $-28,099 -23%

Assessment: $73,100

Own a great investment in downtown Richmond. Airport Hilton Hotel, completely managed and operated. Great location, fantastic view from the 11th floor.