“At the in-laws this weekend in Richmond, they had a friend of theirs over who is a well-connected realtor in the Chinese community. She said nothing priced above assessment value was selling. Prices off 15% from peak.”

“Was at the in-laws this weekend in Richmond. They had a friend of theirs over who is a well-connected realtor in the Chinese community.
She said nothing priced above assessment value was selling. Prices off 15% from peak.
This is someone who was invited to one of Harper’s trade missions to China, so in a position to know if an influx of HAM was just waiting to be unleashed. Aggressive sellers are driving prices lower to attract the few buyers in the market.”

Just looking… at VCI 9 Sep 2012 8:17pm

5 responses to ““At the in-laws this weekend in Richmond, they had a friend of theirs over who is a well-connected realtor in the Chinese community. She said nothing priced above assessment value was selling. Prices off 15% from peak.”

  1. I’m boggled, and I don’t boggle easily. It never would have occurred to me to send a realtor on a trade mission. It’s the answer to the question “How can we drive up our dollar and real estate prices without creating jobs except in a cyclical industry?”

    • > It never would have occurred to me to send a realtor on a trade mission.

      This is why Harper is the PM and you’re a commenter on a real estate blog :P

  2. Realtor Muhktiar Sian has several townhome developments in Richmond. This one really catches my eye as I drive by often. 10999 Steveston hwy. This complex has 25 units and was built over a year ago. Today, there are 14 available. There has been 14 available for several months now! Nothing has been moving and the extreme overbuilding continues as the market is already saturated. So they came up with a marketing strategy, FREE car with the purchase!! When do developers ever do this? When they are desperate. He should of dropped the prices coming into the spring market. Now he’s going to take a big but because he’s flooded the area with his own properties. Boy oh boy, he’s screwed 😱

    • Worth noting, out of curiosity, I looked the building up a while ago– it was built by Sian Developments. So presumably Mukhtiar or his family built the building.

  3. Free Corvette with house is something that sticks in my mind from a trip I took to Vegas in Feb. 2009.

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