Richmond individual property sales details

[HAM]

Since Richmond has been a large part of discussions in this forum as of late, we should keep Rich and Van sales separate.

10491 Caithcart rd sold May 2011 for 1,368,000
Listed 3 months after the purchase for 1,600,000 (bought to flip)
Price reduced several times and got to a low of 1,399,000. After 1 year, no takers. Listing removed from MLS. Just Relisted again for 1,393,000. 2006 home 3752 sq/ft home on 10k + sq/ft lot.

10251 Caithcart Rd.
2004 built home 5243 sq/ft on a slightly larger lot than above (10k +)
Asking 1,398,000

For 5k more and a bigger lot and 1500 sq/ft larger, the first one above is screwed. He is trying to unload and taking a loss after expenses. A flip gone wrong and please note, this is not west Richmond.

[IKnow]

The flip could be by a mainland China syndicate.
Like a mutual fund, net loss per individual is not as severe.

[jesse1]

Great thread! I look forward to many more sales details in the months to come!

[HAM]

15 SFH sales so far this month 40 attached sold so far!!!!

6260 Chatsworth Rd
List 1,298,000
Reduced 1,158,000
Sold after 155 Dom 1,080,000
Assessed 1,174,100

9580 Woodwards pl
List 1,518,000
Reduced 1,384,000
Reduced 1,200,000
Sold after 93 Dom 1,120,000
Assessed 1,384,800

Mandalay
#509- 9373 Hemlock dr
List 369,000
Sold 314,000
Assessed 360,000

#14 10177 Pugwash Pl
List 515,000
Reduced x2
Sold 425,000
Assessed 479,100

Meridian Gate
#412 9288 Odlin Rd
List 288,000
Sold 280,000
Assessed 296,000

Listings sit stale and only the lucky ones sell. Rich is in the ditch.

[vancityeast]

have u seen those huge mansion style houses on No. 5 road on your way to Steveston coming from Westminster? Those are massive houses with lots of building going on there. I wonder if the owners are building for themselves. Whoever they are they must got money to blow!

[HAM]

Richmond BC Home Sales-Market Report
As of today, there is $1,529,028,092 in asking price value of single family detached homes for sale in Richmond, BC comprised of 1,087 properties. The average listed price is $1,406,649 and the median asking price is $1,198,000. Only 35 single family homes sold in the last 30 days and the median value of those sales was $938,000.  The sales to active listings ratio for single family homes is 3.2%.  This is very low and significantly favours buyers.  It is a BUYER'S MARKET NOW!

There is $617,663,651 in asking price value of attached properties (condos and townhouses) for sale in Richmond, BC comprised of 1,411 properties.  The average listed price is $437,749 and the median asking price is $428,000. 71 of these attached properties sold in the last 30 days and the median sale price was $410,000.   The sales to active listings ratio for attached properties is 5%.  This is also very low and significantly favours buyers.  It is also a BUYER'S MARKET NOW for condos and townhouses!

http://www.shuchatgroup.com/Blog.php/richmond

Those are really scary numbers. It's dead in Richmond and listings just keep piling up. Lots of building and lots of inventory to hit the market. If we see 50% declines for some properties, I wouldn't be Tsurprised

[Taipan]

Nice of some of the new bears to finally turn up and put a bit of stick about with these pesky bulls. But I totally agree. They all need a damn good thrashing.

The crash could have happened at any time over the last 4 years if the government had pulled their fingers out instead of inflating these bubbles to gigantic sizes.

Forget about the mainland Chinese. Complete rubbish pursued by greedy little shits, trying to max out their gains.

Its pretty easy now, and It would have been nice to see some of you front up and take these bulls head on over the last few years, instead of leaving it to the few.

Some of us were forced to do the heavy lifting.

Frankly it was a target rich environment, and it would have been nice to have a few wingmen to clear those pesky bulls off ones tail.

Anyway. Keep up the good work. Take it straight to them and send em down in flames. From now till the bottom of the market youll have a pretty clear go at em.

Beware of a counter attack but it will peter out, and then you can continue giving them a canning!

Good hunting!

Taipan Out

Armstrong and Miller RAF Compilation

[jesse1]

HAM, Somerville has stated certain regions are likely to see bigger drops than others. Don't worry though, most of the prediction quotes from local "experts" are archived over at vreaa for future entertainment.

[semven]

Nice of some of the new bears to finally turn up and put a bit of stick about with these pesky bulls. But I totally agree. They all need a damn good thrashing.

The crash could have happened at any time over the last 4 years if the government had pulled their fingers out instead of inflating these bubbles to gigantic sizes.

Forget about the mainland Chinese. Complete rubbish pursued by greedy little shits, trying to max out their gains.

Its pretty easy now, and It would have been nice to see some of you front up and take these bulls head on over the last few years, instead of leaving it to the few.

Some of us were forced to do the heavy lifting.

Frankly it was a target rich environment, and it would have been nice to have a few wingmen to clear those pesky bulls off ones tail.

Anyway. Keep up the good work. Take it straight to them and send em down in flames. From now till the bottom of the market youll have a pretty clear go at em.

Beware of a counter attack but it will peter out, and then you can continue giving them a canning!

Good hunting!

Taipan Out

Armstrong and Miller RAF Compilation

As Super Roo hops off into the Sunset us pesky Bulls cant help wondering....

"Did he remember to take his meds"?

[Taipan]

I wont be the one with the headache and the depression mousey.

[robert james]

There may be a few more "For Sale" signs go up after the 7.7 shaker night.. Richmond would not fare well in a Tsunami ..A bit of a wake-up I should think..

[semven]

By your logic Manhattan too then?

[robert james]

By your logic Manhattan too then?

That sounds more like your logic.. Somehow comparing Manhattan to Richmond is hilarious.. Is that the best you can do??

[timber2012]

I drove into Richmond the other day and had to do a double take - I thought I was in Manhatten. There's a slogan for Tourism Richmond: "visit the Manhatten of the westcoast - according to semven". This is brilliant.

[curious]

I drove into Richmond the other day and had to do a double take - I thought I was in Manhatten.

River Green phase one is almost finished. Next to Olympic Oval, it looks nice, better than in Manhatten.