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Making sense of real estate pricing history

By Malkovich   Follow   Tue, 1 Nov 2011, 7:59pm   867 views   5 comments
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Hey there,

Came upon this listing today:
http://www.redfin.com/CA/Oakland/2514-Ivy-Dr-94606/home/534424

I'm not interested in this property but I was looking at the pricing history and having a hard time figuring out what exactly happened.

Can anyone explain this pricing history?

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1. thomas.wong1986 Follow Befriend 16 threads 4,426 comments

   1   10:11am Wed 2 Nov 2011   Share   Quote   Permalink   Like   Dislike   Flip... the listing seemed to have changed Property History for 2514 -2516 IVY Dr Date Event Price Appreciation Source Oct 31, 2011 Listed (New) $399,000 -- EBRD #40549604 Oct 01, 2010 Sold (Public Records) $290,000 2.2%/yr Public Records May 24, 2010 Show Pending (Pending - Show for Backups) -- -- Inactive EBRD #40467254 May 18, 2010 Show Listed (New) ** -- Inactive EBRD #40467254 Jul 01, 1994 Sold (Public Records) $205,000 -- Public Records

2. madhaus Follow Befriend (4) 8 threads 86 comments madhaus's website

   2   1:37pm Wed 2 Nov 2011   Share   Quote   Permalink   Like   Dislike   That sure looks screwy. The top two listings have different numbers, suggesting they are not the same one, but all the other ones are the same. Redfin usually lists two sale records, MLS and public (which comes from the County Recorder). That's because MLS and County don't always agree. So someone bought this sometime between October 1 and 13, then turns around and lists it again? And that's a HECK of a divergence between the October 1 and October 13 sale prices, supposedly for the same transaction. Damned fast flip with some really screwy reporting going on via MLS. Some kind of funny paperwork with a high transaction price and off-contract kickback maybe? Or the opposite; deliberately low transaction for tax records? Zillow gives this place a ZEstimate of around $440K.

3. Katy Perry Follow Befriend 8 threads 530 comments Murrieta, CA

   3   3:07pm Wed 2 Nov 2011   Share   Quote   Permalink   Like   Dislike   $290 or $390 WTFs the difference if I get a loan for it. I'm still in debt and the Va Jay Jay still thinks I own something. it's all good untill that fantasy blows up usually 10-15 yrs in. bla Bla BLa! broker than broke.

4. corntrollio Follow Befriend (5) 27 threads 2,073 comments

   4   5:09pm Wed 2 Nov 2011   Share   Quote   Permalink   Like   Dislike   Could easily be the realtor lying about the sale price on the MLS. Or a typo. There was a house that was famous on SocketSite, where the house got foreclosed, but the realtor reported it as sold for a high price on the MLS -- 2041 Sacramento. It was originally listed for $2,095,000, then later reduced to $1,999,000. Then the realtor listed a sale on the MLS at $1,950,000. It never actually sold. What really happened is that the property got foreclosed at $1,880,877. Nice attempt at fraud: http://www.socketsite.com/archives/2010/10/while_the_mls_reports_a_sale_public_records_report_a_fo.html If this were SF, I would also ask if the duplex was divided into TICs or condos, but that seems less likely in Oakland.

5. gregpfielding Follow Befriend (9) 43 threads 288 comments Danville, CA gregpfielding's website

   5   1:26pm Thu 3 Nov 2011   Share   Quote   Permalink   Like   Dislike   Malkovich says Can anyone explain this pricing history? I looked this up in the MLS and it looks like simply a fat-finger. The property did sell for $290,000 last year, not $390,000 as input in the MLS. When it sold last year, it was noted as needing TLC. This year, the listing notes mention work done (HVAC, flooring). I think the odds of agent sloppiness are much greater than the odds of foul play here.