Some of the Sillier Recent Re-listings

Posted by Dave Fratello on Monday, July 9th, 2007 at 6:30am.

There are all kinds of reasons you, as a seller, might want to re-list your home after a few days or weeks. Don't worry, the local MLS isn't too discriminating as to reasons. It's a laissez-faire system.
  • 2822 Ardmore re-listed after 12 days to raise the price by $46,000;

  • 717 31st re-listed when dropping the price by 2%; and
  • 3204 Poinsettia kept the price the same, but re-listed after a failed escrow, not wanting a DOM penalty from one week off the market.
Let's go back to these one by one.

Ardmore is being listed by a relative of the seller. They started at $1.299m for this 1,400 sq. ft. bungalow "at the quieter end of Ardmore" (listing). Whoops! There was some intra-family mis-communication ("What?!? You're taking a commission!?!"), and the price needed to go up by 3.5% ($46,000) to $1.345m. With a new MLS #, less than 2 weeks later, all is forgiven.

The 31st St. listing is new construction, almost 90 DOM, and probably overdue for a typical new construction "new listing" treatment. The price drop was $70k on $3.45m, no big news. We've noted before that this one is nice, but lacks outdoor space. They're still chasing the other new construction across the street (712 31st, now in escrow) which hit the market at the same time, with 300+ sq. ft. more interior space, far better outdoor spaces, and some wow factors, last listed at $3.399m. At $3.379m, 717 31st is still high, which the sellers won't admit any sooner than they'll admit they've been around 3 months.

Poinsettia has been around the block. They started at $1.625m last Summer, then quickly reduced to $1.599m and $1.575m. Re-entering the market this year (May 18) at $1.550m, they got a bite in mid-June. Escrow failed and a week or so later, it was time for a fresh listing to hide the more recent history. "Back on the market!" screams the listing, but that will seem strange to average readers for the first few days, when the listing appears to be brand-new.
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