July 31, 2006
Subterfuge at 301 Bryant?
Four days ago the original listing for 301 Bryant #101 (and its history of price reductions) was withdrawn from the MLS and replaced with a new listing at an even lower price (reduced another $39,000 and now “priced to sell!!”). Not to be outdone, #704 (which has been reduced four times) followed suit and was re-listed yesterday under a reduction free MLS number.
A friendly reminder that if either of these condos sell for even a dollar over their current listing prices they’ll be recorded as “Sold for Over Asking!” and not “Sold for 10% under (original) Asking!”
First Published: July 31, 2006 12:05 AM
Comments from "Plugged In" Readers
I thinking RE relisting schemes are tantamont to fraud and should be outlawed along with these deceptive marketing practices.
Maybe we need a California law that requires all asking price history on a residence be disclosed along with dates
Posted by: lord_truth at August 2, 2006 8:24 PM
And don't forget the whole Days On Market disgrace, both when properties are relisted to reset the DOM and when NAR, CAR et al claim it takes "x" days to sell a house, carefully forgetting all the relisted properties and properties that didn't even sell at all. Particularly in a slowing market, "% of sales price sold for" and "average days on market until sale" can be largely bogus.
Posted by: Amen Corner at August 2, 2006 11:08 PM
Interesting that 704 has now reappeared on the market, repriced from $925,000 to $1,200,000!
Posted by: Bob at November 29, 2006 8:26 PM