Foreclosure Report-Vancouver, Richmond & North Vancouver


Blog by Arnold Shuchat | March 24th, 2014


Here is a table of the current Court Ordered Sale listings by selling areas which includes Richmond, Vancouver and North Vancouver. I have not included the specific property addresses here, nor am I opining as to value in relation to the current list prices.  People are always searching for deals, and this list may contain something of interest.  Please contact me if you would like specifics.

Were one predicting an impending bubble-break, foreclosures is one area to keep an eye on.  Are the number of listings here excessive given the total population of homes for sale?  I think not.  However, that could change, and I will be updating this list periodically going forward.  For now, in my opinion, 19 single family homes on this list does not constitute a source of concern as a percentage of the total number of market listings in the areas presented.  Put down your calculators, it works out to less than .8% of the 2377 homes for sale in the 3 areas. As a "feeler", I checked out Court Ordered Sales up at Whistler for SFDs as well, having spent a great weekend up there.... just to see... and there was only one long-time listing. 

Finally, I ran the entire seach for the same areas but for attached properties, which includes townhouses, condos etc...  there were only 37 Court Ordered Sale listings from out of the 4,407 total listings...or, .83% of the total.  Again, nothing more to get excited about unless you are shopping.  I also ran a check on Whistler attached properties.... just to see.  Interesting that the foreclosure rate is just about double that of the above areas.  5 out of 307 or, 1.61% are subject to Court Ordered Sale. That said, from a shopping standpoint, there is really nothing to get excited about up at Whistler either.  The big difference aside from likely being secondary homes, is that the seller's interest is not often the full 100% interest and further, the maintenance fees on a a condo unit often work out to about 85% of a typical mortgage payment with a 30% down payment.

Given the high monthly cost of ownership and the unusual ownership interests which present up at Whistler, those numbers would be worth watching as those living over their heads will most likely be trying to unload their recreational properties first.

 
Single Family Foreclosure listings in Richmond
Price 
Selling Area Original Price List Price Decrease % BR Bth Sq Ft Yr Blt
Westwind 769,000 759,000 1 3 2 1,560 1971
West Cambie 899,000 788,888 12 3 1 1,484 1960
McNair 1,086,300 899,000 17 3 3 2,400 1975
Lackner 2,280,000 1,588,000 30 6 4 3,891 1988
Riverdale 2,788,000 2,218,900 20 5 8 5,431 2007
Single Family Foreclosure listings in Vancouver and North Vancouver
Deep Cove 675,000 299,000 56 6 2 2,830 1940
Blueridge 800,000 800,000 0 4 3 3,213 1970
S. Van 870,500 870,500 0 5 3 2,153 1977
E Hastings 995,000 894,900 10 3 5 2,330 9999
Lynn Valley 1,400,000 1,198,000 14 6 4 4,875 1950
Pemberton 1,288,000 1,199,000 7 6 6 3,440 2004
Main 1,340,000 1,340,000 0 3 2 1,600 1943
Knight 1,400,000 1,400,000 0 4 2 2,000 9999
Knight 1,400,000 1,400,000 0 3 3 2,900 9999
Knight 1,400,000 1,400,000 0 4 2 2,100 1947
SW Marine DR 1,588,000 1,518,000 4 3 2 2,463 1954
Arbutus 1,978,000 1,649,000 17 5 5 2,413 1994
Dunbar 2,150,000 2,150,000 0 4 3 2,979 1928
S Granville 3,499,000 3,199,088 9 7 7 4,847 1997