Saturday, December 15, 2007

Metrolist Changes Default Prices

Before:

After:

Announcing a new metric: The Realtortm MarketPrice Perception Gaugetm!

7 comments :

Anonymous said...

Does anyone know the status of this house. It was a bank owned property with an asking price about 1/2 the prior sale price.

9504 Sara St Elk Grove CA 95624

AgentBubble said...

9504 Sara St

Sold 9/22/06 for $424,000
Bank bought it for $362K on 11/28/07
Currently pending sale at $215,000

Gwynster said...

Wow, is that our first almost 50% off from the peak?

low rent said...
This comment has been removed by a blog administrator.
Wadin' In said...

Gwynster,

The prior sale was 9/13/06. The financing thru WMC Mortage was 100%80/20 financing. My guess is that the deal was cash back mortgage fraud. The house has 1386 SF, so the $424,000 was $305/SF. Laughable.

Agent Bubble,

The "asking price" is $215,000. The contract price could be less. If this house rented for $1500/mon, it makes the value somewhere between $180,000 and $215,000. So it may make sense to buy at these prices.

Anonymous said...

I'm familiar with the area, vacancy rates are high, no way the home would rent for $1500, maybe $1100 tops. If there was cash back at closing, nothing was done to the house. There were other homes in the development that sold near that price. I don't think there was any funny business going on as far as that goes.

Buying Time said...

Nice find Max! I use metrolist every week for my screen scrape, and always wondered how they decided what the default settings are. Cause they seemed pretty hight for an average Sacramentan.

But any lower and nothing would show up!