Real Estate: Vancouver Price Drop ” RICHMOND CONDO “


Real Estate: Vancouver Price Drop  ” RICHMOND CONDO “

#10 ) Address:# 102 8460 GRANVILLE AV, Brighouse South, Richmond



October 06, 2006 V609652 $315,000 $0 0%
October 29, 2006 V609652 $325,000 $0 0%
February 16, 2007 V609652 removed after 133 days
February 21, 2007 V631503 $325,000 $0 0%
March 13, 2007 V631503 $315,000 $-10,000 -3%
March 19, 2007 V631503 removed after 26 days
April 25, 2009 V763169 $328,000 $0 0%
May 21, 2009 V763169 removed after 26 days
May 20, 2011 V889386 $466,000 $0 0%
June 29, 2011 V889386 $446,000 $-20,000 -4%
September 01, 2011 V889386 removed after 104 days
August 24, 2012 V967816 $368,000 $-98,000 -21%
September 21, 2012 V967816 $355,000 $-111,000 -24%
October 26, 2012 V967816 $349,000 $-117,000 -25%
November 17, 2012 V967816 $335,000 $-131,000 -28%
November 26, 2012 V967816 removed after 94 days
December 13, 2012 V982452 $319,800 $-146,200 -31%

Assessment: $362,000

6 sales here last year for an average of 5% ABOVE assessment and this unit is now priced at 12% BELOW assessment.  Another apartment back at 2006 price levels and this one is in Richmond, not in the Fraser Valley

LOWEST PRICED 900FT2 2 Bdrm apt in Richmond CITY CTR. Priced $42’200 BELOW ASSESSMENT to sell quickly. Rock solid CONCRETE BOSA building. Beautiful kitchen with granite countertops, upgraded stainless steel appliances, spa-like bathrooms, , Open concept living and dining with gas fireplace & access to x-large private patio (great for pets, entertaining etc), in-suite laundry plus 2 PARKING STALLS & 1 locker. Excellent location in City Center close to Central library, Richmond Center Mall, Skytrain, buses, banks, restaurants, shops, Garden City Park, Schools & Kwantlen College, and YVR Airport. DON’T MISS THIS ONE!! WON’T LAST!!! Open House Dec 16th 2:00am-4:00pm



I recall this  Hi – Rise….it was built several years ago, before the last boom took hold.

Via the adresss, this appears to be a First Floor Unit.

Reading various blogs , what I have found is that  when  a Hi – Rise is pre-sold…many insiders get options of the best units….and what is leftover …..err…..” available to the general public ” ….is usually the worst units…. bad views, next to noisy mechanical areas ……etc. etc.

Unless mistaken and reading the history in the chart above….the owner has tried to sell this unit for years….even during the BOOM period…..this appears to be a real “dog” of a unit.

It should also be noted that directly WEST, across the street… is a strip mall with 24 hour convenience store…

IMHO, the sales history(or lack thereof) is INvaluable information. “The market” has given the unit a “thumbs down” ….one shouldn’t jump in and perceive this as a bargain. If one buys this… day one may have to sell it.

In addition….there are several NEWER Hi – Rises that have been built nearby, and  a new one planned literally across the street aka lots of product to chose from within a stones throw…. 

More indication of a BUYERS market….

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