I saw a similar story on TV One news tonight. It cited several examples of houses selling below their valuation. The problem was, though, that it gave the discounts as absolute dollar figures, rather than as a percentage. Lacking a context, it doesn't really matter if a house sells for $20K less than its valuation.
Furthermore, it would take a hefty discount to cut into the average 75% appreciation that the housing market has seen in the past 5 years.
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EOI Submitted: July 20, 2006
EOI Selected: August 2, 2006
ITA Received: October 12, 2006
ITA Submitted: February 2, 2007
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Arrived in NZ: July 26th, 2007
Leaving NZ: June 1st, 2008
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