patrick.net

Often when a place drops out of escrow, the price will adjust to the price that was offered. Sometimes this makes the original buyer come back? Or maybe someone else was kept on the back burner as a backup offer?

Pending = Trolling

Tenouncetrout says

Pending = Trolling

Please explain.

Thanks for the comments, it makes it clearer now!

Sometimes it's a backup offer, sometimes it's a realtor trying to make phantom offers look real.

"C" is contingent - accepted offer but haven't removed contingencies (inspection, loan approval)
"P" is pending - contingencies satisfied and they're on the way to getting loan documents ready for signature.
"S" sold, closed, recorded.

All you silly people wanting to buy a house, take it from an experienced CA and NV realtor - sit and wait.

Changes occurred 7/1 that even we realtors can't believe.

The "cumulative days on market" are removed from our MLS sheets. So, we only see how long the current listing has been active. We no longer see that the property has in-total been on the market for 2+ years. Banks have bought and paid for the MLS, they are desperate to get rid of the very, very old, rotten crap.

Do yourself a favor and ask your realtor to provide you with the "history" of the listing. That'll show the "total" days on market - astounding!!

Don't buy a foreclosure owned by Bank of America. They are toxic, will screw your deal up, will mess up your deed, will probably foreclose even though you pay cash, and they will force you to use Bank of America for your purchase loan. Now, you're in a real fix.

Professionally, I am boycotting Bank of America. Won't even accept their loans on my listings.

New law, banks selling foreclosures now have "90 days" to respond to your offer.
They make it sound like it's a MUST - the banks MUST reply within 90 days - give me a break!

Stayyy awayyy from Beeee of AAAAA.

The screws are tightening. They don't want prices to go down to where they should be.

Citi is no better - bunch of boneheads.
Wells - JPMorgan/Chase - blah, blah, blah.
Same story.
Stay away from all the big banks.

If you MUST buy a house now, go to a mortgage broker. And - make your realtor provide you with the history of the assessor's parcel #. It will blow your mind!

JAWS says

Changes occurred 7/1 that even we realtors can't believe.

The "cumulative days on market" are removed from our MLS sheets. So, we only see how long the current listing has been active. We no longer see that the property has in-total been on the market for 2+ years. Banks have bought and paid for the MLS, they are desperate to get rid of the very, very old, rotten crap.

Is this true for every regional MLS? I doubt it.

The consumer-facing MLS has always acted this way, so this is nothing new. You always need to look at the history.

I may be silly, but I don't want to buy a house!

Laborers just this past weekend erected a river stone wall along the sidewalk.

dotacion says

Laborers just this past weekend erected a river stone wall along the sidewalk.

Really? I drove by last night and didn't notice a wall. Are you sure?

Austinhousingbubble says

What does it mean when a house is listed somewhere like Zillow but there's no street address listed -- rather, a general area or zip code?

Usually a website has the info and you have to pay to find out which house it is. EX: foreclosure.com

JAWS says

Changes occurred 7/1 that even we realtors can't believe.

The "cumulative days on market" are removed from our MLS sheets. So, we only see how long the current listing has been active. We no longer see that the property has in-total been on the market for 2+ years. Banks have bought and paid for the MLS, they are desperate to get rid of the very, very old, rotten crap.

Do yourself a favor and ask your realtor to provide you with the "history" of the listing. That'll show the "total" days on market - astounding!!

If the house is listed on Redfin just go there, there should be a listing history. The asking prices are removed when listings expire but the house being on the market stays there. You can sometimes find the old listing prices on Zillow, though.

madhaus says

If the house is listed on Redfin just go there, there should be a listing history.

Plus if realtors are doing their f-ing job they should be tracking inventory religiously anyway. It's not that hard. I can give you a 5-year price history on the areas I'm interested in, LOL.