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Expired listings surge across Massachusetts as 2009 ends

 
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RealEstateCafe



Joined: 11 Dec 2007
Posts: 148
Location: Cambridge, MA

PostPosted: Sat Jan 02, 2010 3:13 am GMT    Post subject: Expired listings surge across Massachusetts as 2009 ends Reply with quote

Expired listings surge across Massachusetts as 2009 ends
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Bill Wendel
The Real Estate Cafe
Serving a menu of money-saving services since 1995
97a Garden St.
Cambridge, MA 02138
617-661-4046
realestatecafe@gmail.com
http://realestatecafe.com/blog/
http://twitter.com/RealEstateCafe
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Renting in Mass



Joined: 26 Jun 2008
Posts: 381
Location: In a house I bought in December 2011

PostPosted: Sun Jan 03, 2010 12:23 am GMT    Post subject: Reply with quote

That chart doesn't tell me much. How does that number compare to that time period for previous years? What does the rest of the year look like?
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RealEstateCafe



Joined: 11 Dec 2007
Posts: 148
Location: Cambridge, MA

PostPosted: Sun Jan 03, 2010 1:20 am GMT    Post subject: Reply with quote

If I'm using this interface correctly, you should be able to use this link to search the Real Estate Cafe blog for posts about "expired listings" since 2005.

http://bit.ly/RECafe_ExpiredPosts1

Here are some highlights:

This post addresses your question about what happened earlier this year, and the graph shows data all the way back to 1994:

Ten day 4th of July forecast: Expired or canceled listing every 4 minutes across MA!

These posts address your questions about past years:

It is true that last year, there were about 2,000 more expired & canceled listings in December. However, I would have to do more research to assess whether that represented a smaller or larger percent of the active listings at the time.

As a buyer agent, the key point, which the graph in the post below makes well, is that there is a growing inventory of properties not listed in the MLS -- which some industry observers have begun calling the "SHADOW inventory," including four groups:

(1) failed listings (expired, canceled, and temporarily withdrawn listings)
(2) pre-market listings (Zillow's Make Me Move), and
(3) distressed properties (pre-foreclosures, foreclosures, auctions, REOs),
(4) For sale by owner propertie

The Real Estate Cafe's philosophy is that home buyers should use "proactive house hunting" strategies to identify ALL home buying opportunities in their preferred locations rather than waiting for new MLS listings.

1/8/08: Expired & canceled listings soar in MA as Petitions to Foreclose approach MLS sales

8/1/08: CARPE DIEM: Expired & canceled listings create "commission-free holiday" for buyers & sellers

The graph in the blog post below goes back to 1996:

9/18/05: Expired listings: Leading indicator of real estate bubble

Hope these posts give you a broader context to evaluate the most recent stats.

Bill
_________________
Bill Wendel
The Real Estate Cafe
Serving a menu of money-saving services since 1995
97a Garden St.
Cambridge, MA 02138
617-661-4046
realestatecafe@gmail.com
http://realestatecafe.com/blog/
http://twitter.com/RealEstateCafe
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