Lower Price Missing from MLS

I had an interesting phone conversation last night.  I was curious about the
foreclosures around my area, but the only way you can get information that is
detailed, it seems, is to join a foreclosure list Anyway, I was going to do a
free trial of 7 days on a foreclosure list to get a good look at my
neighborhood.
 
I filled out the info form.  I got a call HOURS LATER from a local guy who with
his wife and a few others runs a "for flippers only" type investment racket -
er, I mean company!:)  It is called (deleted) and is based out of the twin
cities area in Carver County.  In chatting about the futures for my town, he
predicted the bottom had already occured and was moving up.  I didn't share his
optimism, but the area is pretty strong for the area (new highway completed,
open land, great place to live).  When I was talking price and my future
interest in housing (okay, I wasn't completely up front about my pessimism on
real estate as a whole, I wanted to hear what he had to say), I mentioned a
property in my neighborhood that put out a for sale sign with an asking price
literally $40,000 less than what the crazy people who don't know real estate is
falling in value are hoping to get (not!).  It was $169,000 instead of the
$209,000 being asked for some similar units.  This place was built in 2004, and
many paid around $200,000 for them.  What was interesting was he did a search on
the MLS and couldn't find it.  I thought that odd because the sign was right
there.  He was willing to "kick back" something to me if I could provide him
info on that unit so his investors could flip it.  He actually used the word
flip. 
 
After the call ended, I went to the web site of the realty company I remember
seeing it on, and there it was, same listing, considered active.  For some
reason, ther realtors don't really want that price out there, because it isn't
on zillow, etc.  they still want people to value these places around 200 k.  I
am just surprised no one has bought it at the lower price, although we are so
saturated around here in townhouses and condo's, that it isn't all that
surprising.
 
Anyway, I keep up on the news, and today's list had quite a few good historical
lessons - who knew about those sticks that turned into stocks???  And I do
intend to make sure that my little investment portfolio includes some gold, as
well as hold way off... maybe forever, on taking out a mortgage and getting
back into real estate.  I love being a renter and debt free!
 
D.