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Someone Please Explain "Pocket Listings"


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2007 Apr 11, 4:57am   42,846 views  507 comments

by Randy H   ➕follow (0)   💰tip   ignore  

We've talked about so called "pocket listings" and the reasons this happens. But this is the first time I've witnessed one occurring first-hand, and I'm a bit confused.

There's a home in the neighborhood, near enough that I see it every day. It is clearly for sale. The owners cleared out, had it entirely repainted, staged, and it now sits in pristine showing order. No for sale sign. No MLS entry. No key box. Not a peep. Yet people are being shown the place by obvious realtors, sometimes many per day.

Seems to me there is too much activity to be just a "sister or brother" realtor trying to sell it before listing it. And unless there are multiple agencies colluding in the pocket-listing-racket, there is too much activity for this to just be within a single agency; even a large one. This house is getting more traffic than two others in better condition which actually have signs and key boxes.

And aren't pocket listings technically against the CAR's so called "code of ethics"?

And even more so, why the hell would any buyer even be interested in this? This particular home sold for $1m a in mid 2005, but only 0.5m in 1999. Given the listed comparables in the neighborhood, I'll bet they're easily trying to get $1.4-1.5m. But this is Tamalpais Valley, not exactly prime South Marin. Nothing close to exclusive "you have to be invited to buy here" prime Larkspur or Tiburon. So I can't for the life of me figure out why someone would even entertain buying from a shady agent a "not yet listed" home. It's not like finding a home in Tam Valley is hard to do. For sale signs on overpriced McCrapsions are everywhere -- I can see dozens from my bedroom balcony. And this particular "not yet for sale" house is kinda crappy compared to the standard in the immediate neighborhood, adding to the mystery.

I'm curious what people think. I know pocket listings are no big deal to those in the industry, but the practice is unethical according to their own industry representing body. I hate to be naive, but this one strikes close to home (as it were) and so blatant as to be a bit offensive to someone like me patiently renting and waiting for a tiny glimmer of sanity in house prices.

---Randy H
(I'm withholding the Zillow link for now, until I figure out if there are any legal repercussions to the owners. They're actually reasonably nice folks, which is itself a rarity in Marin.)

#housing

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284   sfbubblebuyer   2007 Apr 12, 6:44am  

Whoever figured out to sell shirts to girls that only go down to the midsection is my absolute favorite person on earth.

And whoever figured out to sell them in XL+ sizes is my least favorite.

285   Peter P   2007 Apr 12, 6:44am  

How about a Gen-Y digital music implant?

286   HeadSet   2007 Apr 12, 6:45am  

"It could be that pilots are considered techies? Officers have power and prestige and women like that. By “enlisted” you probably meant the combat troops? "

In the Air Force, the officers (pilots) are on the front lines and get combat exposure. Except for the enlisted ground controllers (on the ground in Afghanistan in enemy territory, directing air attack) the enlisted work back at the base.

287   DinOR   2007 Apr 12, 6:49am  

Headset,

The way I heard it told, in the other branches of the service Generals sit behind desks and order the troops to fight and die!

But in the Air Force, the enlisted guys just fix the plane, and then go tell the OFFICERS to go fight and die!

288   DinOR   2007 Apr 12, 6:55am  

"I hate the execu-slut look"

You and me both brother. Yet it seems that's "the look" most realtwhores favor, no?

289   HeadSet   2007 Apr 12, 6:58am  

DinOR,

Speaking of fight and die, we were briefed in Gulf War One to expect 25% casualties. Very sobering to think that the politicians valued us so cheap, as to trade all those crews and aircraft to put a king back in power in Kuwait.

Of course the casualties didn't turn out anything like that.

290   Randy H   2007 Apr 12, 6:59am  

@athena

It could be realtor owned I guess. Could be that it's owned by one of their parents who is also a realtor. There are no signs or hints that they were foreclosed upon. And I still see them come by occasionally, which I wouldn't expect if they were chased out.

291   HeadSet   2007 Apr 12, 7:01am  

"You and me both brother. Yet it seems that’s “the look” most realtwhores favor, no?"

I have noticed that at the last "Parade of Homes" that all the Reators at every house were wearing low cut tops. I wondered if that was just new fashion I missed.

292   HARM   2007 Apr 12, 7:03am  

Steveoh,

Please do me the favor of including the following when you write your "intent to vacate" letter to your old landlord:

Dear Flipper McGreedbag,

After considering your generous offer of 5% above my current rent for six months (with the prospect of more arbitrary hikes after that), I have "reassessed" the situation and decided I would be better off renting from a more financially stable landlord.

I realize that, as now unemployed real estate flippers/speculators, you and your spouse are having severe cash flow problems. Problem is, that's simply not my problem. Market rents are dictated by what the market will bear, not by what you need to unwind your unfortunate position in the housing bubble/easy-credit Ponzi scheme implosion.

However, I hold no ill will towards you and wish you the best of luck in bagging that Greater Fool. Remember, there's one born every minute --don't give up, and most importantly don't just "give it away". Remember: your investment properties are "special". Don't let the steadily rising tide of for-sale signs and foreclosures tell you otherwise.

Sincerely,
Steveoh

PS. Should I assume you're keeping my deposit and go ahead and file my petition with small claims court now, or wait til I move out?

293   Malcolm   2007 Apr 12, 7:03am  

Yeah, why don't the realtwhores get a clue. If I am buying and I can go with any buyer's agent I want and for my own 'professional reasons' I pick a really hot chick I don't want to see a blazer. I would not feel it unprofessional for her to present my offer in a G string. Now that's negotiating.

294   Malcolm   2007 Apr 12, 7:05am  

BTW I almost hit the deck when I read the XL post.

295   Malcolm   2007 Apr 12, 7:06am  

A chick with a back tatoo, with the XL mid shirt, with back and neck hair, now that's what I'm talking about.

296   Malcolm   2007 Apr 12, 7:07am  

Funny story about back hair. We used to tease my brother about his backhair problem. His back follically active issue, so he went in for a waxing. He had a $25 coupon. When he showed up and took his shirt off the price doubled.

297   Malcolm   2007 Apr 12, 7:08am  

I think that was wrong since they could have sold the large stip of tape afterwards as a nice shag area rug.

298   Malcolm   2007 Apr 12, 7:11am  

GC Says:
April 12th, 2007 at 2:04 pm
There’s something to be said about those who are so secure that they don’t care about being or becoming the “best” and are so content with being an average guy (troop, enlisted, whatever), living in an average neighborehood, driving an average car, and

They're so secure they don't bat an eye when their women go to the Bahamas for a 'girl's trip'.

299   Malcolm   2007 Apr 12, 7:12am  

GC we're talking about a lot of back hair. Mother Teresa wouldn't have taken that on for free.

300   HeadSet   2007 Apr 12, 7:13am  

GC,

KC-135, a modified Boeing 707 that refuels other aircraft in flight. We would burn circles in the sky over northern Iraq, and the combat planes would hit the boom for fuel. Kept this up long after the war for "Deny Flight" and over Yugoslavia for that mess also. Great TDY's though, we were based out of Sicily, Anatolia (Turkish Riviera), and Provence (France)for months at a time. We even got time at Bodo, Norway. Flying low over the fjords was just beautiful, as was flying over the Alps.

301   skibum   2007 Apr 12, 7:14am  

If you don't like the execu-slut look, maybe this will do you better:

Some of you might remember these guys from a previous thread. Still gives me the creeps.

302   DinOR   2007 Apr 12, 7:15am  

@HARM,

Nicely done. Especially "Should I assume you're keeping my deposit"

Why do I get the feeling that this is going to be a VERY common occurence over the next few years? Oh yeah, and whatever you do "don't give it away"! Freaking priceless man.

303   Malcolm   2007 Apr 12, 7:16am  

If by exotic you mean he had Macaws making nests then I can put you in touch.

305   Malcolm   2007 Apr 12, 7:17am  

Luna, those people would be the beautiful socialites in NM.

306   skibum   2007 Apr 12, 7:24am  

lunarpark,

Sweet Jesus! I just lost my lunch.

Well, we know she gets the Brazilian wax job, which is unfortunately all too obvious.

307   Steveoh   2007 Apr 12, 7:27am  

@HARM

Perfect! (cutting... pasting...)

Should I add ? "Remember, this is not your fault. That sleazy, predatory lender that duped you into this mess in the first place, should rot in hell for taking advantage of you.” I wish you luck in your lawsuit against them and the investors that bought your loans.”

308   skibum   2007 Apr 12, 7:31am  

Steveoh,

You should also add in something along the lines of, "Don't forget - you may be eligible for a bailout by the federal government real soon. All may be well for you after all. Hang in there!"

309   HARM   2007 Apr 12, 7:38am  

You should also add in something along the lines of, “Don’t forget - you may be eligible for a bailout by the federal government real soon. All may be well for you after all. Hang in there!”

Noooooo!!! Don't give them any bad ideas!

310   astrid   2007 Apr 12, 7:39am  

If only she wore a conservative one piece with a wrap and covered her face with Jackie O shades. Then she might only look pathetic rather than scary.

311   HeadSet   2007 Apr 12, 7:41am  

"Wow! Your job is pretty risky, because if an enemy figher gets close to you, there’s no way to fight back or escape."

Oh, why weren't you in a bar when I was trying to pick up?

We were never really in danger. No Iraqi fighter would even get close enough for a shot, since every F-15 in the air that day would jostle for the chance to splash it (in fact, this eagerness accounted for the US helicopter shot down by "Rotor", who did not take the time to properly identify since doing so may have allowed it to land, and thus cheat him out of his 5th air kill) And no ground anti-aircraft radar would even be used to guide rockets or artillery since merely turning it on would invite Wild Weasel strikes.

In fact, the only time I know of that we we fired on is when I saw the puffs from what looked like a howitzer on the ground firing, and the hits on a mountain. The howitzer was probrably Kurds who may have thought we were Turks. Yes, our allies the Kurds were routinely bombed by our allies the Turks, with the Turks flying American built aircraft.

312   astrid   2007 Apr 12, 7:42am  

If we didn't have smart people, we wouldn't have our current stupid people social problems.

Once all the smart people dies off, the idiots will return things to an (idiotic) equilibrium.

313   Different Sean   2007 Apr 12, 7:43am  

SFBubbleBuyer Says:
Re Evolution in modern society…
In our not too distant past (say, 1 million years ago up to about 1900s)

hmm, that would be distant past -- homo erectus I think (Peking Man, etc)... modern homo sapiens is pegged at emerging maybe 200,000 years ago, and modern civilisation and settlements only in the last 10,000 years. Prior to that, it is considered neolithic societies were largely unstratified, much as we see in pre-state societies today such as the New Guinean highlanders or Australian Aboriginals. It's possible there was an evolutionary 'spark' about 10,000 years ago where alleles for intelligence became more widespread, which might explain the very long period of incredibly slow advancement prior to that...

314   astrid   2007 Apr 12, 7:51am  

We're getting to the tipping point where the benefits of smart people and functional society are inadequate to counter the environmental degradation and destructive weaponry and lack of herd culling.

We're doomed. No changing that. Let's have fun while we can.

315   Peter P   2007 Apr 12, 7:51am  

I refuse to believe that humans evolved from monkeys.

316   HeadSet   2007 Apr 12, 7:56am  

"neolithic societies were largely unstratified, much as we see in pre-state societies today such as the New Guinean highlanders or Australian Aboriginals."

Yes, and the land is owned in common and everyone gathers or hunts what he needs. No private plots to farm. Property is limited to articles of clothing and rudimentary tools, which are easy to defend or replace.

An environment where socia$m actually works.

317   DinOR   2007 Apr 12, 7:59am  

lunarpark,

Someone e-mailed me that link earlier and it was titled:

Have you ever wondered what happened to the Coppertone Girl?

E-gad! Mom... knock it off! :(

318   HeadSet   2007 Apr 12, 8:01am  

Lunar Park,

That is the perfect Computer Wallpaper I will put on co-workers machines

319   HARM   2007 Apr 12, 8:01am  

I refuse to believe that humans evolved from monkeys.

Actually, we didn't. Humans and monkeys are different evolutionary offshoots of a common ancestor.

320   astrid   2007 Apr 12, 8:03am  

Peter P evolved from an accidental meeting between a cylon and a cat.

321   lunarpark   2007 Apr 12, 8:06am  

"That is the perfect Computer Wallpaper I will put on co-workers machines"

Heh, thanks for the idea...

322   speedingpullet   2007 Apr 12, 8:06am  

You're right Peter P, we didn't.
We both evolved from a common ancestor - proconsul - around 20 million years ago. We never have and never will evolve from monkeys...

In other news - listings in L.A are dull, as
A) they're just the same houses relisted from last june.
B) new houses, 3000 sq ft + built on lots of 4500 sq ft.
C) Teardowns/duplexes/condos/townhouses/'investment properties'(wtf), pretending to be SFRs with little or no success at pretence.
D) Mansions big enough to hide a religious cult in, none under 5 million dollars.
E) teeny houses for Ken and Barbie, wedged under freeway onramps, yet somehow priced as if they were mansions in Malibu.

I keep an eye on ZipRealty, but to be honest, the fun has gone out if it - almost 2000 lisintgs in my search, and yet I only have 25 saved in 'my homes' because they meet with my requirements.

On the subject of savoury pies....I like a Cornish Pasty almost as much as I like a man in uniform

323   HeadSet   2007 Apr 12, 8:09am  

"I refuse to believe that humans evolved from monkeys."

Why Peter P? Would that make you feel guilty about eating chilled monkey brains?

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