Last Thursday we asked: How low will it go?
(click on image to enlarge):
Well... #204-3411 Springfield Drive has posted at sale now (hat tip: bopeep @ Vancouver Price Drop).
No bidding war, though.
It sold for $135,000.
That's $4,900 below the last listing price and a full -50% BELOW assessed value.
Good thing we waited to see what would happen in court because now we know that Richmond has officially recorded a sale of a property at -50% below assessed value.
For those who complain that these dramatic drops only represent the 'shit properties' (as one contributor observed yesterday), foreclosure court in Richmond has another sale on Monday.
This is #135-8880 Jones Road in Richmond.
North-West corner large one bedroom with windows on 2 sides. Huge sundrenched 300 sq ft patio, gas fireplace, insuite laundry. Less than 10 steps to elevator & courtyard. Central location, just 5 blocks away from bus stop & 2 blocks from shopping mall. PCDS dates October 26, 2012. Parking stall #220, 2 small pets (cats or dogs) allowed. Rentals restricted to 15 currently at maximum. Priced over $50,000 below city assessed value for immediate sale.