Real Estate : ” Richmond Spotlight ” Vancouver Price Drop blog
Documenting Vancouver real estate price movements
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.
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
|Open House: Sep 29|
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
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
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
|Open House: May 20|
|Open House: May 26|
|Open House: Jun 17|
|Open House: Aug 11|
|Open House: Aug 12|
|Open House: Aug 18|
|Open House: Aug 19|
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
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
|Open House: Jun 09|
|Open House: Jun 10|
|Open House: Jun 23|
|Open House: Aug 19|
|Open House: Sep 08|
|Open House: Oct 27|
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
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
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
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
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 an
I posted this FYI:
Vancouver Price Drop does “Spotlight Focuses” on certain cities, in this case Richmond.
Fairly good sample base from all over Richmond.
In the SFH class, many people no longer have illusions they live in “Million Dollar” Homes, more like in the High(5) figures homes.
Re: #4 ) Address:# 507 5911 MINORU BV, Brighouse, Richmond,…..I recall this project, it was advertised at the time as having a guaranteed return 10+ % , … the buyer was buying / investing in a Hotel Room and having a management company run it. How this has worked out would be based on buyers own due dilgence.
#2 ) Address:7980 GOLDSTREAM PL, Broadmoor, Richmond……This is in a nice neighbourhood….older executive homes ie 30+ years old . My guess is that it has either an original owner…or a long term owner ….who now wishes to dowsize, but has decide to sell into a collapsing market. However, such parties shouldn’t necessarily say “woe is me”…as if and when they downsize, what they tend to purchase will also have dropped in price, it becomes a game of relativity.
#5 ) Address:3120 SATURNA PL, Quilchena, Richmond. This is an example of a spec house….probably irrational exuberance trying to cater to the small niche of eligible aka wealthy buyers. Built to a rather grand scale of excesses….the price drop seems indicative of panic.