Part of phenomenon you describe can be attributable to owners expecting prices to rise due to the speculation over the bitumen pipeline coming to the City and the corresponding refinery and port expansion.

I see your a newbie, as am I and one thing you will learn quickly from reading the forums is don't speculate on appreciation.

Obviously that is speculation, and based on political climate. 

The keyword 'probate' brought me to your post.Not sure how you see wholesaling as investing, nor flipping (speculation). 

Also, speculations remain that market will crash after 3 years by 2021 (been hearing this saga since 2015 and we have been running in a record bull run ever since 2012)

I have become better at speculating the longer I'm in the business, but it's still a roller coaster. 

I’m guessing that everyone is speculating to sell on the back end of higher or living in one of the units.  

To motivate tenants to move, I suspect I would need to offer 5-10k in this case (that’s pure speculation since I never done so).

i'm only speculating.

You don't have to speculate about the ghost bidding.