“I opened a copy of the [17 Feb 2012] ‘Delta Optimist’ today and ended up in the RE section [pA25], where I saw a big *half-page* ad that read thusly:
“My name is Ingrid – my husband and I live in Richmond and have 6 children. Late last year we bought a rancher in Boundary Bay from a lovely lady who moved to Vancouver Island.
Here’s our dilemma: We completely renovated this cozy rancher hoping to sell it as an investment. Now that it hasn’t sold, we are carrying more than one mortgage and would like to remain in Richmond. We are willing to sell far below market value because a similar renovated rancher sold for $949,000 on the same street and we are willing to sell for $729,000.
Our realtor will be holding an open house this Sunday at 2pm sharp. If you have any questions, please call…”
Now, this could be typical realtor bullshit, but I’d rather think it’s more anecdotal evidence that 1) People are taking on WAAAAAY more than they can handle because they’re told BPOE RE always goes up in value, and 2) This bloated pig is exploding…”
– posted by ‘gordholio’ at VCI 3 Mar 2012 10:10pm
Real brazenly obvious speculators, so the ‘spotting’ isn’t that difficult, or that much fun, in this case.
“Below Market Value” sales always make us laugh. Whatever this sells for is, of course, the market value.