How much!?

I know someone (who shall remain nameless of course) who has listed their home in Calgary. The City of Calgary graciously puts their current property assessment values on the web. This is a great way to view a neighbourhood and determine the overall value of homes in an area and how yours compares. The home in question is valued by the City at about $270,000. Even though the City has recently adopted a True Market Value Assessment system, many realtors will tell you that this number is still on the low side and that actual asking prices will typically be quite a bit higher. But I always wondered - how much is quite a bit? In this case, 'quite a bit' means
significantly higher, as in $430,000.

I think I know why our housing market is so 'hot'. Perceived high demand and lack of supply of houses has made realtors greedy.