I’m cruising my past blog posts for recent sales. You can, too. As a sampling of properties that look easy to move and priced to move, you’ll notice the Redfin listings I brought to your attention are now — viola! — data samples that can help you decide what to pay, where to buy, and how likely properties are to hold value and appreciate.
Deleted listings are another story.
There’s a gigantic, hideous anthill of cardboard atrocities looming over 128 on the way up here that started as condos. When the market softened, they became apartments. One caught on fire. There’s a giant red banner on one building that says “Now Leasing!” Making them rentals probably allowed the dopes who built said atrocity to make payments and hope that it would be worth more in a better market; continuing to sell them as condos would have dumped more unsaleable real estate on an already ailing market. So, sometimes you can see what people refuse to give up for soft-market money, or what banks aren’t willing to sell off cheap. That can tell you a thing or two.
However, not every dead listing is really dead. Sometimes, sellers remove a listing for a short period of time so that the listing will appear new in the computer — new listings get a lot more attention than old ones, and if you’re selling, this might not be such a bad way of working the system. Buyers can get ideas — if no one’s bought in 140 days there must be something wrong with it, etc. It’s not rational, so it isn’t uncommon for selling agents to remind us of a property by making it look new to the market.
2 Weber Avenue sold on 1/10/08 for $230k. Goat Hill is a great location, and that was a little gem of a house. I know, because we tried to buy it…for $270. The bank wouldn’t let the seller sell it to me for that — either the seller won the lottery and paid down the mortgage, or the wretched bank bit itself in the foot. I’m kind of pissed off after seeing this….
315 Rantoul Street Apt. 302 sold for 2/14/08 for $105,440.
13 Chestnut Street sold for $235,000 on 1/31/08.
8 Lakeshore Avenue went for $350k on 1/24/08.
Click the image above for a truly disturbing culinary experience!