Hypey Valentines Day!
A few random tidbits today:
First off we’re right up around 15,000 listings for sale and we’re not even half way through the month. According to numbers from inventory we’re at 15,007 but Paulb’s numbers show 14,993.
So today will either be a record breaking sales day or we’ll get nudged over the 15k mark no matter how you count it.
If you’re the sort that just can’t wait, VHB is hosting a 15k party over at the Vancouver Peak now.
In other news earlier this week the question was “hey, isn’t that supposed foreign buyer on the evening news a local condo marketing employee?”
Turns out the answer is yes, according to Village Whisperer.
Over on the MAC Marketing Facebook page a CBC reporter is asking for clarification on this issue.
Matthew Black I was the CBC reporter on this story and feel some clarification is in order:
*Can you confirm that Amanda is the employee you refer to in the post above?
*Is Chris Lee (from the TV pieces) actually Amanda Lee’s sister?
*Is Chris Lee a genuine prospective buyer from China, or, is she also a MAC employee?I trust you still have my contact information…
February 14th, 2013 at 12:04 am 1
Soon at your local RE agency
https://www.youtube.com/watch?v=8kZg_ALxEz0
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February 14th, 2013 at 12:13 am 2
BTW taglines for that movie: “Lie. Cheat. Steal. All In A Day’s Work.”
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February 14th, 2013 at 12:17 am 3
I have been following the MAC marketing solutions story the past couple of days without having a chance to see the actual video “news” reports. When I saw the CTV version I almost fell out of my couch. I know Amanda Lee. More accurately I knew her from about 8 years ago. She is from Taiwan not China!!! The CTV story clearly stated that Chris Lee was waiting for her parents from China and that she came to Canada two years ago. Based on her accent I do believe Chris is from China but not Amanda. The BS in this fiasco is getting better and better. I doubt they are actually sisters. On the other hand, I guess they could be sisters from a different mother/father. But I highly doubt it.
But honestly, how hard is it to find a wealthy foreign exchange student to pretend to be looking for a property and waiting for his/her parents to swoop in with their suitcases full of cash just in time for Chinese New Years.
The amount of blunders related to this story is truly comical. You just can’t make this stuff up. And all this coming from a “marketing” company.
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February 14th, 2013 at 12:29 am 4
Re #3,
Yes, based on my observation of Amanda’s FB profile, I would say Amanda is a Taiwanese based on the pages that she “likes” on FB. Also, from her photos (no longer publicly viewable), I learned that she’s recently married. Yet, in her approx. 10 wedding photos I don’t see her sister “Chris Lee” in them at all. Beside, you can all see from the CTV crap that Amanda and Chris don’t look like each other at all and have different accent.
Before you guys criticize me for going through her FB profile and that kinda BS, think about what MAC has attempted to do to the gullible public. They perpetuated a grand scheme of tricking people into the urge of quickly committing large amount of debts into purchasing an asset that’s falling in value each and everyday. Not to mention the growing animosity and racial tension generated by these fake news toward the Chinese community.
If the MAC people are stock market participants instead of RE market sales, they would have long been prosecuted for securities fraud.
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February 14th, 2013 at 1:24 am 5
That’s exactly what I thought from the still photograph in the CTV piece. I then asked my spouse–a self-proclaimed expert in this type of thing–if she thought the two were sisters and she said ‘no way!’
Hot debate. What do you think?
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February 14th, 2013 at 1:27 am 6
Agreed. I think it’s about time for some good-ole political activism and a push to get our elected officials to produce legislation which would make it illegal–large fines and jail time–to do many of the unethical things that are currently being done in the real estate biz. A quick example is the Toronto condo king Lamb (can’t remember his first name) who publishes flyers promising ROIs in the hundreds of percent.
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February 14th, 2013 at 5:44 am 7
Seniors piling on debt faster than other groups
Top comment:
Like “helping” them buy a house maybe?
Remember that if the average senior household debt is $47K, some households must be much higher.
Hot debate. What do you think?
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February 14th, 2013 at 7:39 am 8
ugh, it infuriates me re-watching those videos knowing what I know now.
http://bc.ctvnews.ca/year-of-the-snake-nets-condo-sales-developers-1.1150505
Matthew Black the reporter from CBC better follow up on this.
He should include this scam as well:
http://whispersfromtheedgeoftherainforest.blogspot.ca/2012/04/mon-post-2-more-on-latest-cam.html
Hot debate. What do you think?
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February 14th, 2013 at 7:44 am 9
Is there a link to the CTV footage?
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February 14th, 2013 at 7:59 am 10
Uh oh — just when you thought this couldn’t get any worse, it looks like the Hot African Money may dry up.
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February 14th, 2013 at 8:11 am 11
um ya Peter, that would be the post immediately above your post
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February 14th, 2013 at 8:20 am 12
#7 patriotz
Seniors also represent the highest income group in Canada, so it would have been nice if they had broken down why seniors increased their debt load. Was it CCs? LOCs? mortgages? cars? …
The last paragraph paints a bleak picture. 1/3 of seniors have debt, so the average excluding those without debt is 3x$47K.
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February 14th, 2013 at 8:59 am 13
Well what we need now is a strong influx of immigration to BC, because soon we will all be so poor that we won´t be able to afford a house. I suggest we can invite more Chinese with their money, because in China, it is almost obligatory for a guy to have a place to live before he gets married! Or we should implement this tradition in Canada and force young men to take a mortgage.
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February 14th, 2013 at 9:02 am 14
Is there an official channel we can all email to demand a public story retraction? This story has overstepped the line and is now into pure fiction. There should be a televised apology.
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February 14th, 2013 at 9:16 am 15
Search Amanda Lee on Google. Pay attention to the first search result.
http://www.google.ca/search?q=amanda+lee+linkedin+mac&oq=amanda+lee+linkedin+mac&sourceid=chrome&ie=UTF-8
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February 14th, 2013 at 9:20 am 16
Hidden due to low comment rating. Click here to see.
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February 14th, 2013 at 9:22 am 17
“You guys are bordering on chargeable harassment”
Not even close. Don’t try to shut down discussion about the RE industry’s fraud with ill-informed intimidation.
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February 14th, 2013 at 9:29 am 18
Public MLS on realtylink.org shows +43 VW SFH since yesterday. Nice. Now at 843. Last year at this time–785. We didn’t hit 843 until mid-April last year. And last year wasn’t exactly a good year.
We have a shot at hitting 1000 by end of March. March. What the heck is that going to look like by July?
The only way to clear inventory of that size is for people to start buying. How can that happen?
a) people get more income. Not going to happen fast enough.
b) HAM helicopters arrive. Anyone got Amanda Lee’s number? She needs to find about 1000 friends.
c) interest rates go down and make debt more affordable. No.
d) banks loosen credit; OSFI etc. loosen rules.
e) prices start dropping faster than anyone though possible.
Of these, I think (d) and (e) are the only realistic possibilities. If you disagree, please supply an explanation of how we are going to clear inventory of this magnitude.
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February 14th, 2013 at 9:33 am 19
Hidden due to low comment rating. Click here to see.
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February 14th, 2013 at 9:35 am 20
“You guys are bordering on chargeable harassment.”
You mean, the MAC marketing guys et al who constantly harass me with mis-information during TV news hours?
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February 14th, 2013 at 9:37 am 21
Perhaps it’s discourteous to Mr. Black, since he seems to be following up with the new details of the story, but this latest episode of the VanRE drama reminds me of nothing if not this:
Reporters are faced with the daily choice of painstakingly researching stories or writing whatever people tell them. Both approaches pay the same.
-Scott Adams (The Dilbert Principle)
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February 14th, 2013 at 9:44 am 22
Realty radio infomercial on now.
The totally unbiased Bill has a guest who is also a Totally unbiased expert.
Bridge for sale.
Buy now before it’s too late
Hot debate. What do you think?
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February 14th, 2013 at 9:48 am 23
Google cache about Amanda Lee who showed on the CTV.
http://webcache.googleusercontent.com/search?q=cache:jES8To_vgssJ:ca.linkedin.com/pub/amanda-lee/43/27a/81+%22amanda+lee%22+mac+linkedin&cd=1&hl=en&ct=clnk&gl=caa
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February 14th, 2013 at 9:51 am 24
I just learned something new: Price-to-rent and price-to-income ratios are not relevant to the housing market.
Housing-crash prophets should check their numbers again
Some people are predicting a crash in the Canadian housing market because price-to-income and price-to-rent ratios have gone up a lot. But these ratios omit mortgage rates, a key determinant of prices. A better guide, in my view, is the housing affordability index published by Royal Bank of Canada (RBC).
http://www.theglobeandmail.com/globe-investor/investor-community/trading-shots/housing-crash-prophets-should-check-their-numbers-again/article8611843/
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February 14th, 2013 at 9:51 am 25
Chuckles – a lot of people have been talking about using the CRTC to complain but I suspect that’s a lengthy and fruitless avenue. The BPCPA (Consumer Protection BC) – http://www.consumerprotectionbc.ca/about-us – is probably a better avenue. If you’re drafting a letter though I’d send to both.
I suspect that if a group of individuals who are considering purchasing real estate at some point – i.e. most people on this forum presumably – were to write to the BPCPA about this and various other borderline illegal tactics – such as paying people to stand in condo lines, falsifying statistics, misleading consumers regarding potential financial gains, etc., that they might do an omnibus review/investigation into not just the MAC case but the overall RE marketing system. As a consumer you are afforded rights to factual information about the products and services you purchase. If there hasn’t been an actual transaction (you haven’t bought the property) then I suspect it may also be a stretch – but if you were actively looking to buy a condo and found out about this blatant manipulation and feel vulnerable and unsure about your purchase now – there might be some response.
IMHO the most fruitful avenue would be for a large group of people to start a grassroots campaign (ie what’s happening now) to publicly shame all the misleading pumpers and actively promote a consumer boycott of their products. Even if I were interested in buying a condo, after seeing this I would NEVER buy something promoted by MAC. I can think of a few other infamous condo marketers I would add to the list…
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February 14th, 2013 at 9:57 am 26
Finally some good news for the BC Film Industry!!!!
MAC Marketing Solutions is creating jobs for actors!
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February 14th, 2013 at 10:02 am 27
I saw this in the comments section of Garth’s blog by pathcontrolmonk. It’s hysterical:
A recent story from a friend trying to sell his house in East Van:
“My wife noticed another house for sale in our neighbourhood that is basically the same 1970s design as ours, same size lot, but has done extensive renovations. We called to ask the price and found out it is about $200k lower than our asking price. We asked the realtor for his opinion and he said, “One they don’t have a south-facing lot, and Two they probably have some financial issues forcing them to sell low.” He then tried to console us by saying, “At that price it won’t last on the market long so we won’t have to worry about it.”
Needless to say, my friend and his wife are completely confused by all this doublespeak by a realtor that thinks this is what the sellers want to hear. Unfortunately, my friend can only see the “paper loss” for selling at a lower price. All I see recently are huge price discrepancies in nearly identical properties.
Only in Vancouver, aye? Pity.
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February 14th, 2013 at 10:06 am 28
Just wrote an email to my MP to complaint about Mac Marketing.
You can find your using the following link:
http://www.parl.gc.ca/Parlinfo/Compilations/HouseOfCommons/MemberByPostalCode.aspx?Menu=HOC
Hot debate. What do you think?
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February 14th, 2013 at 10:15 am 29
RE ArthurFonzarelli #25,
Ya, a grassroot campaign would be productive. Does someone have a list of condo marketers (i.e. competitors of MAC Marketing)? I can also think of Rennie, but not much else.
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February 14th, 2013 at 10:29 am 30
Cartel must be be behind this shit:
http://www.vancouversun.com/travel/Chinese+singer+songwriter+Wanting+Vancouver+tourism+ambassador/7965085/story.html
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February 14th, 2013 at 10:42 am 31
The number of hilarious comments on MAC’s FB are exploding:
http://www.facebook.com/MacMarketingSolutions
Don’t you guys want to one-up those comments?
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February 14th, 2013 at 10:43 am 32
dev/null re: RBC’s last drops of blood from a corpse index…
One commenter on the G&M story summed up the purpose of the so called RBC affordability index quite nicely.
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February 14th, 2013 at 10:49 am 33
easy enough to post that “whispers from the edge” link on CBC’s and CTV’s facebook page….no harm in that?
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February 14th, 2013 at 11:23 am 34
Aaand first out of the gate is The Province!
http://www.theprovince.com/Local+real+estate+firm+admits+faking+investor+news/7965588/story.html
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February 14th, 2013 at 11:30 am 35
/dev/null
“I just learned something new: Price-to-rent and price-to-income ratios are not relevant to the housing market.
Housing-crash prophets should check their numbers again
Some people are predicting a crash in the Canadian housing market because price-to-income and price-to-rent ratios have gone up a lot. But these ratios omit mortgage rates, a key determinant of prices. A better guide, in my view, is the housing affordability index published by Royal Bank of Canada (RBC).”
===========================
Well it’s not really surprising. Most buyers are Joe and Jane Howmuchamonth, following the teachings of Prophet Dave Affordability.
Problem is they are running out of new converts.
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February 14th, 2013 at 11:34 am 36
Happy Valentines Day to MAC Marketing.
I just LOVE your fake Chinese buyers!
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February 14th, 2013 at 11:46 am 37
Re #34 MF:
“Multiple calls to Mac Marketing Solutions Thursday morning have yet to be returned.”
If someone called them and say he wants to buy 10 Madoff — i mean Maddox — condos, I am sure they will pick up the phone. THEN he makes the inquiry about Amanda.
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February 14th, 2013 at 12:11 pm 38
@gokou3
But, that would be decepti…oh wait, nevermind…
Hot debate. What do you think?
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February 14th, 2013 at 12:17 pm 39
For the record, it’s not the first time that MAC is pin pointed by the Bear community…
Remember back in October last year…
If he had to use his own employees to fake foreign investors, it means that the market is not that strong and attractive after all.
Karma is a bitch, eh?
http://vreaa.wordpress.com/2012/10/03/we-are-in-fact-like-a-mini-manhattan-yaletown-one-of-the-boroughs-within-downtown-vancouver-vancouver-is-the-swiss-bank-account-of-international-real-estate-just-too-strong-for-any-sort-of/
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February 14th, 2013 at 12:24 pm 40
Wasn’t there another CTV “news” piece a while ago that a real estate investor was featured in the story who also worked for the featured marketing firm?
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February 14th, 2013 at 12:29 pm 41
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February 14th, 2013 at 12:34 pm 42
New Listings 125
Back On Market Listings 0
Price Changes 49
Sold Listings 95
as of 12:15pm
ALL LOWER MAINLAND
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February 14th, 2013 at 12:35 pm 43
Re: #34 Many Franks
Why did the article appear in the entertainment rather than the news section? I am not entertained.
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February 14th, 2013 at 12:38 pm 44
@VanRant: Are you kidding? I’m totally entertained; this is the best show I’ve seen in a while. The problem was the original bit being categorized as news.
Hot debate. What do you think?
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February 14th, 2013 at 1:08 pm 45
Now that MAC has been called out (and I did call them and the system completely disconnected me . . ) . . . one thought I did have is that, in VAncouver, although we all have our views on the business or real estate/ the prices/ the likelihood of long term large price declined – - I could not help but think that someone like Rennie would never be dumb enough to do something like this. . . . Not that they would not think of it – but you have to be completely stupid to try to pull this off when you are under the microscope and people like those on this blog will figure you out!!!!
I almost can’t believe that I know somebody who works at MAC – - a bright young woman who is really great in her field – - can’t imagine what it would be like to be there today. . . without any working phones apparently!!!
Cheers to all – - Mid-Month February update coming this weekend…
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February 14th, 2013 at 1:15 pm 46
Cam Good was a former top salesman for MAC, in case you’re wondering where he learned the tricks of the trade.
Hot debate. What do you think?
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February 14th, 2013 at 1:19 pm 47
@HFHC Says:Back On Market Listings 0 Sold Listings 95
As already pointed out in yesterday’s thread, this WILL BE the next big revelation for the unwashed masses.
Attention sellers withdrawing your listing: Your realtor is permanently unloading their real estate interest on the dwindling pool of suckers. They are cashing out their home equity for top dollar while yours dwindles and goes underwater.
So, I ask again, what percentage by client representation of practicing realtors themselves have a position in real estate? Answer this question generally, and specifically to your own representation, and the daily numbers will take on a new and unprecedented significance for thousands of people.
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February 14th, 2013 at 1:29 pm 48
http://www.theglobeandmail.com/news/british-columbia/real-estate-firm-confesses-after-employees-pose-as-buyers-in-news-stories/article8688210/
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February 14th, 2013 at 1:41 pm 49
Re #48:
““All I can say is that I deeply apologize for having misled the media for being there,” said Mr. McNeill”
So is this Mr. McNeill the same person as the Cameron McNeill who is the president of MAC Marketing? I am not so sure of anything anymore, after the Amanda Lee incident.
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February 14th, 2013 at 1:46 pm 50
Somebody posted this thoughtful comment on the Whisperer:
And here is what McNeill says:
These guys are so predictable it’s not even funny.
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February 14th, 2013 at 1:55 pm 51
I haven’t seen such an effective denial since Denver got into the kitty treats.
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February 14th, 2013 at 1:57 pm 52
Hey guys, time to do some work. Here is a comment left by the journalist at the Globe and Mail:
Let’s dig out all the good old stories of manipulation we’ve uncovered over the years…
Hot debate. What do you think?
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February 14th, 2013 at 2:00 pm 53
http://www.theglobeandmail.com/news/british-columbia/strain-of-racist-sentiment-remains-some-chinese-canadians-believe/article8420178/
““Who gets blamed for high real-estate prices in Vancouver? You have this constant idea that it’s the Chinese, Chinese, Chinese,” Prof. Yu said. “I’m not saying that offshore money coming in is not a factor in pricing – but it’s always been.… Housing is not a racialized thing.”
This is what I meant when I said in post #4 that these Mac marketing people are causing “growing animosity and racial tension toward the Chinese community.”
Hot debate. What do you think?
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February 14th, 2013 at 2:00 pm 54
(I posted this message on Whisperer’s site also)
I see it’s on the Huffington Post now….
http://www.huffingtonpost.ca/2013/02/14/mac-marketing-solutions-fake-vancouver-real-estate-investor_n_2689499.html
Nice work, Cam!!
Hot debate. What do you think?
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February 14th, 2013 at 2:04 pm 55
Cam is one motherfucker. he should be prosecuted for fraud. lets keep pressure so Cam’s head is on plate
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February 14th, 2013 at 2:12 pm 56
@Makaya
Ms. Woo just emailed me back and she has other examples. Hopefully they won’t let go of this one.
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February 14th, 2013 at 2:23 pm 57
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February 14th, 2013 at 2:25 pm 58
It’s freaking wonderful to see the latest scam by the re industry exposed. This only perpetuates the downward slide. A few months ago I thought it would be a slow erosion. I change that hypothesis again. It’ll melt fast and deep
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February 14th, 2013 at 2:26 pm 59
CTV is guilty as well by airing the segment without checking the facts. we should email the G&M article and ask for on air apology
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February 14th, 2013 at 2:34 pm 60
Guys, I need your help. I sent an email to Andrea, and she replied to me:
I can’t find where this was debunk in the first place. Anybody has a link?
Hot debate. What do you think?
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February 14th, 2013 at 2:38 pm 61
Jack,
“It’ll melt fast and deep.”
I would agree with you. When all the pundits are “on board” (as they are with this “soft landing” nonsense), then the opposite usually happens.
And why not?
The seeds of destruction for this housing bubble were sown when the bubble BEGAN.
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February 14th, 2013 at 2:42 pm 62
@Makaya
I’m not sure about that one. But one of Cam Good’s stunts (perhaps the groupon stunt) featured one of his employees as a buyer.
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February 14th, 2013 at 2:47 pm 63
http://news.yahoo.com/imf-says-canada-housing-overvalued-urges-more-action-204737055–business.html
what a lovely Valentines Day!
Hot debate. What do you think?
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February 14th, 2013 at 2:48 pm 64
….Aaand first out of the gate is The Province!
http://www.theprovince.com/Local+real+estate+firm+admits+faking+investor+news/7965588/story.html…..
From the Province article:
“On Thursday, the Mac Marketing Solutions Facebook page is getting quite a backlash against that narrative, seemingly from young Vancouverites who are fed up with high home prices and excessive greed in the city.”
Way to fluff it up!
Province, with all due respect, it’s not the high prices that piss off young people (although that in itself is daunting). Rather, it’s the incessant pumping and flagrant misrepresentation of the local market by the RE industry and the seeming complicity of the print and broadcast media in this city that drives all folks, not just young folks, crazy! Start doing your job!
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February 14th, 2013 at 2:50 pm 65
@Makaya
Check this out…
http://vreaa.wordpress.com/2011/02/11/global-bc-tv-shameless-helicopter-re-infomercial-waterfront-good-school-chinese-buyers-a-powerful-force-metro-vancouver-re-cheap/
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February 14th, 2013 at 2:57 pm 66
On this MAC marketing thing……
How willing are you to put your faith (not to mention hard earned $’s) in the hands of a RE company that wasn’t smart enough to hire talent that nobody would recognize in a fake News story?
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February 14th, 2013 at 3:00 pm 67
So Andrea is expanding on the story. She has to file her article within the next two hours, so we should see soon on the website
Good job guys! I call it a day for the Bear community…
Hot debate. What do you think?
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February 14th, 2013 at 3:02 pm 68
@Makaya
http://www.greaterfool.ca/2011/02/10/the-envelope-please/
Garth covered it on Feb 10, 2011.
Don’t see the undisputable proof you’re looking for though, but I’m sure we’ll be able to uncover it somewhere.
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February 14th, 2013 at 3:03 pm 69
A comment found on the Whisperer blog:
Hot debate. What do you think?
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February 14th, 2013 at 3:10 pm 70
Thanks Groundhog. I’ve forwarded the link. There is some good information in Garth’s post:
Hot debate. What do you think?
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February 14th, 2013 at 3:15 pm 71
Wow, MAC marking made on to the Globe and Mail:
“A Vancouver real estate marketing company is apologizing for having two employees pose as prospective homebuyers in televised news segments on a supposed spike in sales around the Lunar New Year.
The two young women – presented as house-hunting sisters, whose parents would be in town from China for the New Year to help them purchase a condo – are in fact an administrative assistant and a sales assistant with MAC Marketing Solutions, president Cameron McNeill confirmed to The Globe and Mail.”
http://www.theglobeandmail.com/news/british-columbia/real-estate-firm-confesses-after-employees-pose-as-buyers-in-news-stories/article8688210/
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February 14th, 2013 at 3:29 pm 72
and ctv
http://bc.ctvnews.ca/condo-marketing-company-admits-it-duped-media-1.1157243
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February 14th, 2013 at 3:30 pm 73
CTV is running the globe story now
http://bc.ctvnews.ca/condo-marketing-company-admits-it-duped-media-1.1157243
Hot debate. What do you think?
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February 14th, 2013 at 3:31 pm 74
“Wasn’t there another CTV “news” piece a while ago that a real estate investor was featured in the story who also worked for the featured marketing firm?”
Sure was, check out http://www.youtube.com/watch?v=0p0gayRyBuY @1:08, Tara Fluet “White Rock Investor” is in reality a Key Marketing realtor. The other two interviewees, Richard Peart “New Homeowner” and Andrea Visscher “Vancouver Renter” are marketing people. Not that there’s anything wrong with that.
Hot debate. What do you think?
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February 14th, 2013 at 3:41 pm 75
I can’t wait for the news story where the camera crew is running after Cam MacNeill who flees into his house with the reporter chasing after him with a microphone.
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February 14th, 2013 at 3:43 pm 76
close 100% sell to list day today. Highest sales of the year, should be over 150 when all is said and done.
Kudos to the folks who got the MAC and CTV scandal to the front page. Both their actions are deplorable.
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February 14th, 2013 at 4:11 pm 77
in the new CTV story Cam is putting the blame on two “sisters” for the whole mishap. Cam is one big piece of shit.
“I think that the ladies probably fit the profile of the story,” he said. “At the moment I don’t know whose idea that was; I don’t even know if they took it upon themselves to make that up.”
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February 14th, 2013 at 4:13 pm 78
inventory graph:
http://vancouverpeak.com/Thread-Inventory-Graphs?pid=459#pid459
Inventory is just about to pass the 2009 level for this time of year and move into record territory.
Last year the rate of inventory growth slowed in the second half of February and basically stayed at that slope until July. This year it seems to be staying at a steeper slope but it is too early to tell if that will continue.
Over the last 30 days the average daily increase was:
72
At this rate we would reach 15,000 in 0 days (Feb-14-13)
At this rate we would reach 20,000 in 69 days (Apr-24-13)
and 25,000 by July 2, 2013
Thanks PaulB for the numbers!
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February 14th, 2013 at 4:14 pm 79
@Troll
“close 100% sell to list day today. Highest sales of the year, should be over 150 when all is said and done.”
I wonder how many will feel duped by the media in the coming year when they see their 5% equity quickly get wiped out.
Hot debate. What do you think?
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February 14th, 2013 at 4:15 pm 80
Aren’t these people supposed to be journalists? This is the lamest line I’ve ever heard:
“Oh, here’s a question: My colleagues (the ones who regularly report on real estate/investors) said it’s pretty well known that the investors in the helicopter turned out to be local investors – but no one knows how to prove it. Do you?”
How do you prove it? you f’ing research the topic before you write a fluff piece about it!. Now they will be all over it saying they were “manipulated”…wrong, they were willing or ignorant partners and should be charged. We no longer have real journalists
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February 14th, 2013 at 4:21 pm 81
#75
It would be even better if a yellow helicopter was filming it all…
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February 14th, 2013 at 4:24 pm 82
@Landbaron: Don’t you think sniffing around the blogosphere could be considered part of researching the story? I doubt all she’s doing is throwing herself on the tender mercies of this scholarly community.
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February 14th, 2013 at 4:26 pm 83
I believe we’ve entered the “then they fight you” phase in Gandhi’s famous quote. Everyone knows what comes next.
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February 14th, 2013 at 4:29 pm 84
I hope there’s jail time served for the helicopter incident and the Lee sister incident.
I think it’s great that the news organizations are now publishing this story, however I find it very hard to believe they have had no idea this has been going on for years.
Next step should be to investigate the media for collusion with the real estate industry. As part of that, it should be investigated the appropriateness of having only Tsur and gang on as the only real estate “economists” and “analysts,” and finally if Tsur and gang have been intentionally misleading the public as well. Although on this final point I think they may actually believe the BS that comes from their own mouths, these aren’t the brightest people after all.
Hot debate. What do you think?
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February 14th, 2013 at 4:31 pm 85
@Vulture Fun,
Yup. The whole quote goes something like this:
Snark aside, if I never hear this quotation again it won’t be too soon.
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February 14th, 2013 at 4:34 pm 86
@Many Franks
I meant to rag on the ‘journalists’ who created the fake stories, but now that I think about it…
I appreciate an inquisitive mind, but her quote does not add any integrity to the profession. Where was she last week? Last Year?
“but no one knows how to prove it…Do you?”
That seems like a very amateur thing to say and a question she should be answering herself, or with her journalist colleagues. That’s what they are paid for after all.
Don’t they also have to go to some kind of special school for this??
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February 14th, 2013 at 4:40 pm 87
This was posted under the Province article. It surprises even me that a Realtor is not bothered by this. There is no justification one can make that this is ethical and responsible.
“Leo Wilk · Realtor at Condo Leo
I May be the only person who is not bothered by this as I am sure the media is spinning this even more than it is. Would you be upset if I told you that the Property Brothers are not even a Realtor or Contractor? Was it politically correct to do this? Probably not! But I have worked for MAC Marketing Solutions in the past and they are definitely one of, if not the most ethical and responsible Real Estate Marketing companies out there.”
Hot debate. What do you think?
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February 14th, 2013 at 4:47 pm 88
Actually, the Condo Leo comment is gone from the Province article now. Must have re-thought.
http://condoleo.ca/
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February 14th, 2013 at 4:49 pm 89
@ Turkey
Quoting it again in its entirety seems like an odd move for someone who’s so sick of the quote.
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February 14th, 2013 at 4:51 pm 90
“I hope there’s jail time served for the helicopter incident and the Lee sister incident.”
Not a chance of anyone even being charged with a criminal offence. Under the consumer protection laws, maybe.
Hot debate. What do you think?
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February 14th, 2013 at 4:55 pm 91
@90
Good enough for me
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February 14th, 2013 at 4:59 pm 92
@patriotz
“Not a chance of anyone even being charged with a criminal offence. Under the consumer protection laws, maybe.”
I’d like to hear a lawyers opinion on that.
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February 14th, 2013 at 5:01 pm 93
Leo: “But I have worked for MAC Marketing Solutions in the past and they are definitely one of, if not the most ethical and responsible Real Estate Marketing companies out there.”
Holy Shit! What others then do if these scumbags are the most ethical and responsible in business?
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February 14th, 2013 at 5:15 pm 94
What I find so disturbing about the RE industry is that that’s probably true.
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February 14th, 2013 at 5:20 pm 95
Good post
http://www.shuchatgroup.com/blog.mobi/real-estate-market-report-price-pressure-by-area
Vacancy rates by area:
Area Total SFD Listings # Vacant % Vacant
Richmond 907 226 24.92%
Ladner 81 19 23.46%
Vancouver W 864 192 22.22%
Whistler 183 40 21.86%
Burnaby E 65 14 21.54%
N Vancouver 352 73 20.74%
Port Coquitlam 119 23 19.33%
Vancouver E 501 96 19.16%
Burnaby S 237 45 18.99%
Burnaby N 168 29 17.26%
Coquitlam 420 64 15.24%
W Vancouver 452 67 14.82%
Maple Ridge 541 74 13.68%
New Westminster 92 12 13.04%
Port Moody 120 14 11.67%
Squamish 176 18 10.23%
Tsawwassen 123 10 8.13%
Pitt Meadows 56 4 7.14%
Total 5457 1020
Average 16.86%
Hot debate. What do you think?
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February 14th, 2013 at 5:24 pm 96
I have another “lawyer-type-question”. Is there any chance that someone could get out of a pre-sale contract claiming they were deceived by a misleading practice such as this one?
Hot debate. What do you think?
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February 14th, 2013 at 5:26 pm 97
A post by MAC on their facebook page:
“In a recent media story we regret we did not do a better job at ensuring full transparency with those interviewed and apologize for any misunderstanding this may have caused. We are doing our best to understand exactly what transpired to ensure this does not happen in the future.”
How many ways can you counter this response? I think there are inappropriate uses of words: “transparency” and “misunderstanding”. The better words should be “deception” and “fraud”.
Hot debate. What do you think?
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February 14th, 2013 at 5:27 pm 98
Best news I’ve heard all day (from Twitter)
Matthew Black@TheMatthewBlack
MAC/McNeill face having their licenses to sell real estate suspended and/or fines of up to $20,000 #VanRe
Matthew Black@TheMatthewBlack
The Real Estate Council of B.C. is investigating both MAC Marketing and Cameron McNeill for false/misleading advertising #VanRe
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February 14th, 2013 at 6:15 pm 99
@BLISTINGAGENT Says:… get out of a pre-sale contract claiming misleading practice…
To the extent that materially adverse facts are not disclosed by your professional representatives (realtor,lawyer, etc) it is possible to claim financial damages in the event that the counterparty insists on either completing the deal or keeping a deposit.
I was hoping to save this for a future thread, when things calm down, but I will say this. It is legal in Canada to record your own conversations and it is crucial to save all papers, emails, notes, and recorded conversations with your realtor when the realtor makes any material representations to you about a particular agreement or their fiduciary duties as your representative.
Hopefully, when there is a lull in the chatter, more meat can be put on the bones of this problem including the issue of non-disclosure of material conflict of interest. IMO, this could be the media story of 2013 with the fraudulent RE marketing practices finally coming to light today as just the tip of the iceberg.
See my earlier post about realtors’ non-disclosure of positions in the real estate market – including their personal domicile! Think about that one. The realtor’s interest in their domicile’s home equity could actually be in conflict with their duties as a seller’s representative if it makes financial sense for the seller to get out at lower prices before the realtor does.
I think there are all sorts of possibilities here for civil class action and even criminal action under the Competion Act against the principals of the various Canadian real estate boards and prominent realtors.
Hot debate. What do you think?
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February 14th, 2013 at 6:20 pm 100
Cressy is the developer of the Maddox builidng Mac was flogging. I think we need to put pressure on Cressy to drop Mac marketing for this project. How could anyone have confidence in the project while Mac is involved?
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February 14th, 2013 at 6:37 pm 101
New Listings 236
Price Changes 95
Sold Listings 174
TI:150006
http://www.paulboenisch.com
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February 14th, 2013 at 6:40 pm 102
Now that MAC got what they deserved, it’s time to go after Cam Good and Key West Marketing who did exactly the same thing in April last year and got away with it:
http://whispersfromtheedgeoftherainforest.blogspot.ca/2012/04/mon-post-2-more-on-latest-cam.html
For those of you who don’t know who Cam Good is, he’s the guy behind the Yellow Helicopter scam as well. And here is what he has to say about all of you non-homeowners:
““If you suffer from real estate impotence, don’t blame Chinese people. Besides, getting all worked up about it will only make it worse. Have a glass of wine. Relax. Stop feeling sorry for yourself and pick up the phone to call a realtor or a mortgage broker, either of whom will be more than happy to show you how easy it can be to get your real estate groove on.”
http://vreaa.wordpress.com/2011/04/21/cam-good-in-the-vancouver-sun-if-you-suffer-from-real-estate-impotence-stop-feeling-sorry-for-yourself-pick-up-the-phone-to-call-a-realtor-or-a-mortgage-broker-real-estate-is-the-best-investmen/
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February 14th, 2013 at 6:49 pm 103
@VDTF
And you were saying 25,000 inventory was impossible!:)
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February 14th, 2013 at 7:01 pm 104
@BLISTINGAGENT Says:… get out of a pre-sale contract claiming misleading practice…
To the extent that materially adverse facts are not disclosed by your professional representatives (realtor,lawyer, etc) it is possible to claim financial damages in the event that the counterparty insists on either completing the deal or keeping a deposit.
I was hoping to save this for a future thread, when things calm down, but I will say this. It is legal in Canada to record your own conversations and it is crucial to save all papers, emails, notes, and recorded conversations with your realtor when the realtor makes any material representations to you about a particular agreement or their fiduciary duties as your representative.
Hopefully, when there is a lull in the chatter, more meat can be put on the bones of this problem including the issue of non-disclosure of material conflict of interest. IMO, this could be the media story of 2013 with the fraudulent RE marketing practices finally coming to light today as just the tip of the iceberg.
See my earlier post about realtors’ non-disclosure of positions in the real estate market – including their personal domicile! Think about that one. The realtor’s interest in their domicile’s home equity could actually be in conflict with their duties as a seller’s representative if it makes financial sense for the seller to get out at lower prices before the realtor does.
I think there are all sorts of possibilities here for civil class action and criminal action under the Competion Act against the principals of the various Canadian real estate associations, prominent realtors, and even business art colleges. Individual Provincial consumer protection actions were already mentioned.
Hot debate. What do you think?
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February 14th, 2013 at 7:08 pm 105
The Sun is runnung the story as well, painting a picture as if we should be sorry for MAC!
I love this part:
If it had been all over the news and had been questioned by journalists on the matter, he would surely know that Cam Good did the same trick and got away with it…
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February 14th, 2013 at 7:26 pm 106
Gotta get a verification on post 101, Pope
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February 14th, 2013 at 7:27 pm 107
Re:105
I spoke too soon. It turns out that RECBC was most likely aware of these kind of practices, if only they had been wanting to pay attention.
Here is a comment left by “M” over at VREAA:
Here is another lie… This industry is clearly rotten!
Hot debate. What do you think?
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February 14th, 2013 at 7:29 pm 108
Sorry for the double post. VCI’s server is taking a terrible beating. My first post reported 404!
Finally we hear from the professional apologist the RECoBC hired on the qualification that he was BORN YESTERDAY!
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February 14th, 2013 at 7:34 pm 109
Re Mac head guy claiming this didn’t come from the top. I call BS.
1. Mac is not a large company so everyone in Mac knows everyone who works there. They all know Amanda and her ‘sister”.
2. Mac was featured on the news of both CTV and Global. Is there any chance any executives at Mac would miss this? No way. So obviously this tactic came from the top or was blessed my the owner. A guy at the bottom wouldn’t try to pull this off knowing everyone in the company would see it on the news and know who the Lee sisters where. A guy at the bottom would not benefit from this. This stuff comes from the top. Hopefully Amanda tells all after being thrown under the bus.
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February 14th, 2013 at 7:38 pm 110
OK. Party time!
http://vancouverpeak.com/Thread-15K-party-party-party
Hot debate. What do you think?
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February 14th, 2013 at 7:38 pm 111
Re: PaulB’s numbers.
Happy Valentine’s Day, dear, I bought you a house!
Oh, honey, you shouldn’t have. I mean, *really* you shouldn’t have.
Hot debate. What do you think?
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February 14th, 2013 at 7:57 pm 112
$20,000 is nothing, pennies for them.
Suspend their sales license, now that’ll hurt!!
Hot debate. What do you think?
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February 14th, 2013 at 8:19 pm 113
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February 14th, 2013 at 8:19 pm 114
The MAC fraud was the lead story on CBC Vancouver at 5:30.
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February 14th, 2013 at 8:20 pm 115
101 is posted from Paulb’s IP address, so assume those numbers are correct.
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February 14th, 2013 at 8:21 pm 116
Re #112 we can start by persuading cressey (maddox developer) cut tie with mac
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February 14th, 2013 at 8:21 pm 117
Who is this Amanda from MAC?
And why is everyone talking about her?
Thanks to Garth that:
http://whispersfromtheedgeoftherainforest.blogspot.ca/?m=1
Has put the MSM to shame.
Hot debate. What do you think?
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February 14th, 2013 at 8:23 pm 118
Cameron McNeill of MAC Marketing has some wise advice for you:
http://www.macmarketingsolutions.com/blog/post/thinking-about-buying-a-home-in-2013-do-your-due-diligence
Ironic, isn’t it?
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February 14th, 2013 at 8:28 pm 119
Andrea did it! She revised her article with the following…
Cam Good, we’re coming to get you, sucker!
http://www.theglobeandmail.com/news/british-columbia/real-estate-firm-apologizes-after-employees-pose-as-buyers-in-news-stories/article8688210/
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February 14th, 2013 at 8:29 pm 120
Don’t suspend the license, nobody’s buying condos anyway, hit em the 20k fine, maybe Amandas mommy and daddy will buy one just to save her further embarassment
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February 14th, 2013 at 8:33 pm 121
Fellow bears,
Great job bombarding MAC marketing’s fb page with comments today. I say we now turn to posting on Key marketing’s page:
https://www.facebook.com/KeyMarketing
Hot debate. What do you think?
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February 14th, 2013 at 8:34 pm 122
power of the internet, good showing on this amadaMAC fraud…well done bloggers/whispers…
didn’t like PaulB’s numbers today (but thanks anyways Paul:-)
Hopefully back to bearish stats tomorrow and beyond….
Hot debate. What do you think?
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February 14th, 2013 at 8:37 pm 123
http://www.cbc.ca/player/News/Canada/BC/ID/2335266634/
Re: McNeill – How do you recognize a bad manager – He pleads ignorance and blames his employees. Total slime.
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February 14th, 2013 at 8:42 pm 124
@crashcow:
Done!
“How does The Key reply to the allegations of MAC planting employees as prospective buyers in news stories? http://whispersfromtheedgeoftherainforest.blogspot.ca/2012/04/mon-post-2-more-on-latest-cam.html“
Hot debate. What do you think?
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February 14th, 2013 at 8:43 pm 125
Oops. Here is what I posted:
“How does The Key reply to the allegations of MAC planting employees as prospective buyers in news stories? http://whispersfromtheedgeoftherainforest.blogspot.ca/2012/04/mon-post-2-more-on-latest-cam.html”
Now everybody goes there and like and comment on top of it! Let’s continue the fight for truth and honesty…
Hot debate. What do you think?
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February 14th, 2013 at 8:50 pm 126
It looks like their facebook is set up in such a way that messages posted on the Key facebook page are automatically deleted…
At least they are a little bit smarter than Mac…
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February 14th, 2013 at 8:58 pm 127
Makaya – I posted some links and they worked. Try commenting on the links instead of in a new post – it should work.
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February 14th, 2013 at 9:12 pm 128
Hidden due to low comment rating. Click here to see.
Poorly-rated. Like or Dislike:
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February 14th, 2013 at 9:15 pm 129
Hidden due to low comment rating. Click here to see.
Poorly-rated. Like or Dislike:
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February 14th, 2013 at 9:17 pm 130
Why it’s not Paul posted the number today? Who is this Anonymous?
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February 14th, 2013 at 9:19 pm 131
@Anonymous
174 sales is not all that unusual for February. What is unusual is that 174 sales is considered a huge spike.
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February 14th, 2013 at 9:21 pm 132
C’mon Groundhog, don’t rain on my parade! Killjoy.
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February 14th, 2013 at 9:29 pm 133
Hidden due to low comment rating. Click here to see.
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February 14th, 2013 at 9:38 pm 134
Party time starts after realtors have fully liquidated their RE positions and begin selling other people’s property. Then we will see the real churn as a statistically significant percentage of inventory and steep price declines.
Be sure to follow the advice of prominent realtors on TV and withhold your listing until they tell you it’s “OK” for you to list your property.
http://www.youtube.com/watch?v=17jO_w6f8Ck
Hot debate. What do you think?
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February 14th, 2013 at 9:45 pm 135
I found it interesting that the CBC reporter says he intentionally went out of his way to find Chinese buyers to make the story. Which goes to show how manufactured the news is. I would like to know how this CNY story came about. Was it pitched to him by Mac or did he come by it himself? Either way CBC deserves some blame for this. They claim they were duped but that’s what happens when you shill for the RE industry.
Kudos to those of you here and at Whispers for sleuthing this out, and more importantly for following this up and making this a MSM story. Yay to Andrea Woo at G&M as well.
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February 14th, 2013 at 9:53 pm 136
“I found it interesting that the CBC reporter says he intentionally went out of his way to find Chinese buyers to make the story. Which goes to show how manufactured the news is.”
Agree. A lot of the “news” you see on TV or in the papers is stuff reporters seek out because of some hypothesis they have or some rumour they hear … or something somebody wants them to hype for whatever reason. And when you go out purposely looking for examples to verify something, they are often easy to find … or fake.
Hot debate. What do you think?
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February 14th, 2013 at 10:10 pm 137
“Cameron McNeill, the head of MAC Marketing Solutions admits the story was a fake and says sorry. But McNeil says just how the incident happened may never be solved.”
http://www.cbc.ca/news/canada/british-columbia/story/2013/02/14/bc-mac-marketeting-solutions-deception.html
om fucking g
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February 14th, 2013 at 10:32 pm 138
@137
Fair enough. How can he be expected to know what happened? He obviously didn’t plan it or sign off on it. And it’s not like he could call Amanda and Chis into his office and ask, “What happened?”. I guess it will forever be a mystery.
Hot debate. What do you think?
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February 14th, 2013 at 10:42 pm 139
It’s like the statues on Easter Island, or the assassination of JFK. Maybe Jimmy Hoffa did it.
I can sympathize with McNeil’s frustration. I mean stunts like this without the knowledge of upper-level management are an everyday occurrence in the business world. Stuff happens! No need to dwell on it. There’s too much too look forward to in life, like another cloudy February day tomorrow with Vancouver condos getting more and more affordable by the day.
Hot debate. What do you think?
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February 14th, 2013 at 10:45 pm 140
TI: 150006??!???
Seriously? That is a MOI of 100+.
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February 14th, 2013 at 10:47 pm 141
Re #138:
Is it a mystery that a phone call or two can’t solve?
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February 14th, 2013 at 10:56 pm 142
Why would Cressey cut ties? The developers pay these guys to take inventory off their books so developments look pre-sold. This has been the game for a long time.
Oh and ya, Cam M without a doubt is part of this. I would put he and his wife into the category of “promoters”. It is what it is.
$20k fine meaningless to them btw. Bigger issue would be suspension of license.
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February 14th, 2013 at 11:10 pm 143
Quick summary comment on this week’s numbers. With the holiday Monday, we get strange stat patterns as it takes time to book the sales and listings (mostly listings). Once this week is done, we are still showing worse comparisons (compared to last year) than last week. So – - the trend is still on and I am forecasting abou 1700 sales this month.
CBC put MAC on TV. That was great. Once thing I want to know is with multiple media outlets being duped – it could not have been harmless spontanaity. . . This will at least put the public in a heightened level of suspicion . . . Globe article was also good. – - Stats to come this weekend.
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February 14th, 2013 at 11:14 pm 144
IMF just said housing prices still over-valued in Canada by 10%. Huh?
In my circle, the guys that did best money-wise were the ones that got a job right after high school and bought a house right away (10+ years ago). Those that went to university screwed themselves over.
Guy SKIPPED University: $300,000 house now worth $1 Million. $15 dollar and hour job initially, Now $15. $210,000 mortgage remaining. Suite income $750 tax free monthly. Minimal income taxes payable, maximum child benefits!
Guy WENT TO UNIVERSITY: Renting now. Wants to buy $1 Million house. $25/hr job now. Pays more income taxes. No suite income. Doesn’t qualify for max child benefits.
Who’s better off??
****These types of imbalances will be the undoing of Canada!****
What you going to do about it?
Hot debate. What do you think?
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February 14th, 2013 at 11:56 pm 145
Chris Lee says;
“In Chinese tradition, if you make good decisions at the beginning of this year and the whole year, it will be good luck.”
I guess that’s a year of bad luck for the Lee ‘sisters’.
Hot debate. What do you think?
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February 15th, 2013 at 12:10 am 146
Re #145:
The bears didn’t buy –> good decision –> good luck for the rest of year –> yay!
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February 15th, 2013 at 12:31 am 147
“And it’s not like he could call Amanda and Chis into his office and ask, “What happened?”. I guess it will forever be a mystery.”
Why would he need to? CTV and CBC are on site at the same time to do a story on their flagship project, it’s not like Amanda came up with the idea in the shower that morning. This was set up ahead of time, and everyone knew what they were doing.
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February 15th, 2013 at 3:10 am 148
“Tyler Davies, communications officer at the Real Estate Council of British Columbia, said he had never heard of any situation similar to this before, but that as the provincial regulating body for realtors”
The RECoBC is the provincial regulating body for real estate agents, not realtors.
http://www.recbc.ca/
Realtor is a trademark owned by the real estate boards and they have their own procedures (or non-procedures) for dealing with real estate agents who use this trademark.
Sloppy reporting and no it’s not a nitpick.
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