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Strategies & Market Trends : Winter in the Great White North

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To: ralfph who wrote (5271)11/26/2003 4:25:44 PM
From: marcos  Read Replies (2) of 8273
 
Heard a great story this morning, a realtor friend was out checking on an acreage he owns, cutting firewood out of windfalls and stuff, a young girl comes along on a horse, they get to talking, she says her father would like to sell the piece next door ... realtor says he is interesting in listing it [duh], so she calls the father on her cell phone, he comes over, likes very much the price the realtor suggests, they make a handshake deal to list it .... third guy comes along, mutual acquaintance of all involved, and says gee, i think So-and-So would be very interested in buying this piece, it's exactly what he's been looking for .... so they call him long distance, turns out he knows the piece fairly well, used to live nearby years ago .... he says i'll think about it, then five minutes later calls back, makes an offer, vendor makes counter-offer, guy accepts that and says 'sold' ... wham-bam, there is still no paperwork done on this but it will go through, i know the buyer and he is solid [quite a string of coincidences here, i know all parties involved including the horse] .... this is how it's going in real estate generally around here, for years Vancouver and Victoria have got all the attention, but no more, it's spreading, and there is little raw land listed now, it goes fast when it comes up .... you see worry around about a real estate crash coming, and it likely will at some point, has already in certain over-heated US locales, but in the nicer parts of BC there is always a lag, prices peak out much later, as people are still spending the proceeds from sales elsewhere, and then retiring on the other two thirds of their house in Markham or wherever .... great story anyway, big smile on the realtor, i'll get a free beer out of this for sure .... cheers
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