bostonbubble.com

[steverino]

Ever try using "saved properties" on a realtor site?

I just happened to go through an old list of properties saved from last summer, fall and winter. I couldn't believe what I saw.

"Cancelled."
"Expired."
"Cancelled."
"Expired."
"Cancelled."
"Cancelled."

I know relitters frequently cancel old listings and issue fake new ones to fool days on market statistics. So I went to masslandrecords--and found none of these places had ever sold at all.

In fact, there's a house in East Arlington that looked quite nice, if overpriced--and just got pulled from the market after only a week!

This isn't the occasional oddity. This was a majority of old listings selected from Arlington, Cambridge, Somerville, and a couple of other towns, all in decent to good neighborhoods.

There is a huge untold story to be written here--huge.

[Brian C]

Ive maxed out the amount of properties tracked through ZipRealty (100 properties). I will watch properties even after they have gone "Inactive" for whatever reason.

Here is my favorite:
Waltham Condo 3BR,3BA 2000sq ft. Located off Trapello Rd.

Started Feb 2006 469k
Canceled Jun 2006 @ 469k
Started Jun 2006 @ 469k
Canceled Nov 2006 @ 449k
Started Nov 2006 @ 449k
Canceled Feb 06 @ 439k
Started Feb 2007 $439k
Pending Jul 2007 $429k
Sold Aug 2007 $424k

Total Time on the Market = 430+ days

[hackamada_the]

Which site do you use to see the status of inactive listings? ZipRealty does not show it. It just says "Inactive" and that is it.

[Brian C]

I use NewEnglandMoves to monitor properties that go inactive. Just input the MLS number on the site and it will tell you if it went Pending. Also you can use the MLS number after the property went pending to see how much it sold for.
On Zip, you can setup for email updates on certain roads, so if the property comes off and comes back on, I will get the update.

[steverino]

I was using NEMoves, too.

Each one of these listings was fishy in some way. A few others have sold, but only after the listings were yanked and reposted. What amazed me were the properties that never sold. The rate of failure is high enough to affect buyer's decision making--if it weren't hidden from them.

[balor123]

Just out of curiosity, what was the address of that Waltham 3BR 3BA condo? I wish there were a website that tracked not only past sales but also stored the pictures around. So far the best records are found at masslandrecords.com unfortunately. Redfin, zillow, and trulia all have incomplete sales records.

[Brian C]

With NewEnglandMoves, if the property was sold within the last year, you can input the MLS number or search by address, and it will display the full MLS listing including pictures.

To find that condo, just use NewEnglandMoves to search for condos on Trapelo Rd.