REAL ESTATE :Vancouver Price Drop Oct. 2012 ( Part 2 )
REAL ESTATE :Vancouver Price Drop Oct. 2012 ( Part 2 )
#10 ) Address:4490 BLENHEIM ST, MacKenzie Heights, Vancouver West
|Open House: Jun 16|
Last Sale: $1,920,000 on 30/May/2011
Total Loss IF sold for list price: 94,544 transaction costs and 222,000 loss on sale = LOSS of 316,544
They tried to flip it for a $350K profit but instead are looking at a > $300K loss. Ridiculous greed being punished is the kind of stuff that puts a smile on my face and I’m loving the CAPS!
BEAUTIFUL BIG LOT AT CORNER of W 29TH AVE & Blenheim in PRESTIGEOUS MacKenzie Heights area! Lot SIZE 56.10X122, UPDATED home with newer kitchen & S/S appliances, newer flooring & bathrooms, newer double-glazed windows, functional layout with 4 generous sized bdrm up, elegant living & dining rm, 2 bdrm suite in bsmt is great for mortgage helper. CLOSE TO ST. GEORGE’S & CROFTON HOUSE PRIVATE SCHOOLS, PW HIGH SCHOOL, UBC, shopping & transit. To hold or build a 4790 sf new home, MUST SEE!
COMMENT: I recall this one…..a very nice area…..but greed is kicking in. “Strategy’ of removal from listing …then a new price….probably to avoid the stigma of ” REDUCED ” ??? Interesting that they are willing to sell at a loss…..perhaps deep pockets ?!?
Regardless that’s why they call it “risk”..sometimes you win,…..sometimes you loose..its all proportional to the GREED factor.
#9 ) Address:1402 HIGHLANDS BV, Harrison Mills, Kent
Picture yourself in the beautiful surroundings of Harrison Highlands, an area of exclusive living with views to match. Close by is the renowned Sandpiper Golf Resort, Hemlock Valley Ski Resort and the pristine environment of Harrison Lake.
COMMENT: Perhaps GOOGLE MAPS can provide a view….If it was assessed at $86,000 last year…that’s probably peak price….PERIOD….now they are getting stupid and still asking double + ?
#8 ) Address:15438 ROYAL AV, White Rock, White Rock
Initially listed at over double assessment… Down 30% and I wouldn’t be surprised if we see this one at a 50%+ drop
Beautiful ocean view property on very desirable street in sunny White Rock. Located on the south side of Royal, this large 5,850SF lot has sweeping unobstructed ocean, mtn & island views & neighbours multimillion dollar homes. Spacious &bright kitchen, SS appliances, new Thermador oven, new plumbing & light fixtures, hdwd flooring, 2 gas f/p & private fenced yard. French doors open from kitchen to lrg sundeck, great for entertaining friends & family. Fully finished w/o bsmt w/lrg partially covered sundeck. Access to Dbl garage from lane driveway. Ample parking, front & back. Flat, quiet street. Walk to beach, restaurants, shops, library, schools & transit. Live in now, renovate/build later! 5 min to US Border, 42km to YVR.
COMMENT: Looks like another FLIP job…..again the indicator of ASSESSED Value (2011) versus asking price. Notice how what we would normally consider PRIME property is certainly not in demand…..
#7 ) Address:3033 LOUGHEED HY, Agassiz, Kent
Fraser River views! Awesome privacy with this gated 12.13 acre estate, nestled privately amidst towering cedars! Sit out on your south west facing deck and soak in the sun, the Fraser and valley views! 2400 sq. ft. custom 4 bedroom home. Great room concept with floor to ceiling windows to capitalize on the spectacular views. Only minutes to great golf (and dining) at Sandpiper Golf Course, fishing, hiking, parasailing, boating and skiing at Hemlock Valley. This is an ideal private retreat! Call today for details. * PREC – Personal Real Estate Corporation
COMMENT: Again…GOOGLE MAP for a photo. I don’t understand why some listings do NOT have a photo, its the norm for most listings..it almost sends a subliminal message there is something to “hide”.
#6 ) Address:5540 PARTHENON PL, Eagle Harbour, West Vancouver
|Open House: Jun 16|
|Open House: Aug 05, 11, 19, 26|
|Open House: Sep 01, 08, 16, 23, 30|
“Become an exclusive member of ‘P.P.O.A.’” Does that stand for Please Purchase Over Assessment? Don’t think anyone will be joining that club, sorry
Enjoy stunning views from this semi-waterfront 4 bedroom family home! This West Coast contemporary home features over 4,000 sq ft of spacious living area on 3 levels, walls of windows and balconies across each floor. Become an exclusive member of ‘P.P.O.A.’ and be a ‘participant owner’ of approximately 1/2 hectare of incredible waterfront property, in addition to this property. This is the only lot of the 15-lot subdivision that touches the private waterfront retreat. Access the property by a private roadway shared with only one neighbour. A great location close to many amenities, the Horseshoe Bay ferries and minutes to Eagle Harbour Elementary and Rockridge Secondary!
COMMENT: Again…the wealthy are becoming an endangered species. Also check the devil in the details….shared roadway ?…Perhaps more than meets the eye with covenants etc..
#5 ) Address:21353 40TH AV, Brookswood, Langley
Apparently the owners put $1.2 million into this in renovations including a $900K on an indoor pool complex and is now “Priced 1 million below sellers cost”. Ouch.
THE BUY OF A LIFETIME! SPECTACULAR Resort Style Oasis on totally private, gated & fenced 1.28 acres on one of Langley’s finest streets. Approx $300,000 spent in last 2 yrs in renovations & landscaping plus $900,000 on a new Whistler Resort Style 60 x 40 indoor pool complex with Nano wall windows, 40 x 15 swim jet freshwater pool, sauna, hot tub, change rms & bath rm. Expansive patios, beautiful manicured lawns & gardens, feature pond with waterfall. Heated 42×21 RV garage/workshop with 10’6 door. Tudor style castle 2 level. Formal living & dining rms, gourmet custom maple kitchen with large granite island & high end appliances. LUXURIOUS master suite with sitting area, walk-in closet, balcony & magnificent ensuite with oversize shower, jetted tub and double sinks. Family, games & rec rms & a nanny suite over the garage with a private entrance. Priced 1 million below sellers cost – You will not find a better value. Call now. * PREC – Personal Real Estate Corporation
COMMENT: In the good old days…people would by a slightly run down home, fix it up a bit ….ie paint it, ..do minor repairs…then re-sell it. As someone once pointed out to me …you cannot make a new house out of an old house, but this appears to be what the seller is trying to do. What I don’t understand is if the owner has put in $1.2 Million in renovations, how can the assessment only be $975,000 ? I would say this persons savviness is quite low…or watched way too much HGTV. This one could be a real disaster re: return on renovation investment. People that would want such a home would usually build it NEW.
#4 ) Address:1049 MILLSTREAM RD, British Properties, West Vancouver
|Open House: May 19, 27|
|Open House: Jul 07, 15|
|Open House: Sep 29, 30|
Sold Feb 3, 2011 for $1,575,000
Total Profit IF sold for list price: 92,964 transaction costs and 313,000 profit on sale = hoping for PROFIT of $220,036
This one is listed over $300K below assessment but also over $300K above what they paid for it a year ago. Lots of spelling and grammar mistakes in the description… I’m thinking I’ll be seeing you again soon
BC assessment $2,200,000! View,view, view! This unbelievable value plus view home locates in the quiet and private British Property area. Breathtaking city, ocean & mountain views from almost every room. Sunny bright south facing. Tastefully renovated with deisgner’s colors, granite tiles throughout living, dining, family room & foyer. S/S appliances, granite counter tops, 2 gas fireplaces, 3 laundry rooms. High quality fininshing in a setting of total tranquility on 0.47 acres (20365sqft). Private yard onto the greenbelt. 4 bedrooms up plus a 2 bedroom & den self contained suite on ground level. You can’t miss out this one! Great public and private school catchment. First Open Sat/Sun Sept 29 & 30 2-5pm.
COMMENT: Again, another West Van property thinking the “view” is worth a premium. Well maybe it is…but their seems to be too many “view” properties for sale. maybe one day someone will invent a device with -D glasses and a BIG Screen to give anyone a reproduced “view” of any place they choose.Also, try to proof read….looks so UNprofessional otherwise.
#3 ) Address:# BLK A PARADISE VALLEY RD, Squamish, Squamish
Assessment: No Assessment
Lease land lot – can’t be a desirable thing. ”Vendor willing to help clear building site and build on property. Vendor motivated to sell!”, I bet you are!
2.99 Acres of beautiful forested land along the Cheakamus River. Build your dream home and live full time or use as get away. Access is by foot or ATV over footbridge. Power at lot line . Vancouover 1 hr. south, Whistler 45 min. north. Renewable Crown Land lease. Vendor willing to help clear building site and build on property. Vendor motivated to sell!
COMMENT: Recall this one as well….you actually rent the land..you do NOT own it . You pay the annual taxes and pay rent to the Gov’t. What you put into it is a gamble….rules can change , your lease ends..and you may come out with squat ie no compensation. I mentioned the Pitt Lake area and those that built cabins on leased First Nations Land, the lease was up….and the renters lost it all.
#2 ) Address:18700 RIVER RD, East Richmond, Richmond
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”
COMMENT: Another one we’ve seen before. Price is below assessment. Asking approx $400,000 acre….looks cheap .Curious what it will sell for….intriguing details……wonder if more than meets the eye…ie lawsuits; liens ……etc.? If anything is Months OLD fish…..something stinks.
#1 ) Address:14120 TRITES RD, Panorama Ridge, Surrey
Almost a 50% drop and #1 yet again but still above assessment if you can believe it!
PANORAMA RIDGE – Private Estate – 5191 sqft, 1.41 ACRE 2 storey w/basement. Great STREET APPEAL. Situated on a very private treed road. Spacious floor plan with 20′ vaulted ceilings in both family & living room (features grand stone fireplace), hardwood & tile flooring throughout main. Large ‘gourmet’ kitchen + additional spice kitchen & large W/I pantry. Up – Large master with private patio, full ensuite & soaker tub, an additional 4 oversized bedrooms are also located upstairs. Down – Is currently partially finished, potential for optional media/recreation and/or gym. Back – Features a very private view of the valley + densly treed location. Call now to arrange a viewing. * PREC – Personal Real Estate Corporation
COMMENT: I am getting this “strong vibe” that anything over $1 Million is TOXIC to most buyers..maybe the psychology has been inverted…everyone in a hot market wanted to be a Millionaire….but in a collapsing market, its like a millstone around ones neck…aka implies bad fiscal karma…how much can you LOOSE is the new reality ?!?