Sunday, January 15, 2012

Chez Neumansky 2.0 is in Contract!!!

subtitled, ' Disclosures Smosures'

According to the Redfin Page the house was listed for sale on Nov 7th and went pending on Nov 24th!!! For the asking price of $725k!!! Wow, only on the market for 17 days!

I have to say that we were totally shocked that the place was listed for that much...then imagine our shock when it went pending for asking so fast...

We are viewing this as a vindication of our initial take on the house. When it was a rat infested, practically falling down mess and everybody thought we were nuts...this finished product was what we saw. A nice Victorian with a 3 color paint job all fixed up inside and out and pretty. Truthfully, we still wish that we could of been the ones to do it but we've moved on to bigger and better things.

Back when we were trying to decide if we should pull it off the market and do a 203k refi, get it fixed up quickly-cheaply and then put it back on the market, we never, ever projected seriously a selling price of $725k.

I'm looking at the super detailed spreadsheet now and if we had done it and put it back on the market for same amount we would of netted over $60k.....hurray....

I'm sure the current owners stand to net much, much more than that as I bet they have extremely low overhead with the 'contractors' they used.

If you haven't already, take a look at the Redfin page linked above...notice anything strange?
I noticed two things that I don't think I've ever seen on a Redfin page before.

In the spot where there would usually be a Zestimate it says this.


Home Value Estimates for 1310 PACIFIC Ave

The seller of this home has requested that home value estimates not be shown. Per MLS rules, Redfin and other public MLS-powered sites may not display any automated valuation for this home.
Hmmm....what's the good reason to do this? If you go to the Zillow page it still has the Zestimate..which shockingly is $721k!?!?!?! Almost the exact asking price???
Then there is this,


Sites Linking to 1310 PACIFIC Ave

The seller has requested that all public comments be removed from this listing. Per MLS rules, we are not allowed to link to blog posts about this home.
Hmmmmm.....could the seller possibly be trying to hide the existence of this blog? Hmmm...what's the non-shady reason for this? I can't think of one can you?
If you type in the address into google this blog show's up as the #3 result, its not like it can be hidden...
But, I don't it possible that in this day and age people who are going to spend $725k on a house won't do at least a Google search?
In an earlier blog post I invite any possible new owners to contact me with any questions that they might have.
Yet, no one has? Seriously, how could you not take advantage of a resource like that? I'm not tooting my own horn here but, c'mon.
Our old neighbors say that the person in contract is a nephew of another one of our old neighbors who we would see everyday and say hello's not like were complete strangers...
I do wish the new, new owners of Chez 2.0 luck.
After the close of escrow my consulting fee for helping you figure things out is going to be $100/hr, 3hr min.... Ha, I wish...
But Seriously
I think that according to Real Estate disclosure laws not disclosing this blog to potential buyers might be illegal...
Couldn't this blog be viewed as one big loooong in depth inspection report? I know you can't hide the existence of an inspection report, especially if its negative.
Actually, I think a case can be made that any of my KnifeCatching reviews  constitute a property report and should be included in the disclosure packet. Especially where I note possible serious issues like crumbling brick foundations or leaky roofs or illegal work.


madhaus at burbed said...

I've seen the request to not link to blog posts all the time, yes, for homes we've "reviewed."

The other thing I love is when the agent pulls the listing the day or the day after a house gets "Burbed." We call that "Burbed and Perturbed." The thing is, the link to Burbed stays under those circumstances, and often you can find the listing info on other sites anyway. Redfin is pretty fast about pulling a dead listing down.

What I want to know is how agents scrub a house's listing history. When I see a house built in 1997 (or 1947 for that matter) that has NOTHING but a for-sale listing in 2011, something's pretty odd.

The MadScientist said...

Check the property tax payments of any house that has a blank sales record. If they are paying almost nothing for property tax then the house has not sold recently.
Could of been passed down from father to son or somethign like that.

Anonymous said...

Redfin has a lot of listings that request blogs not be linked. I don't think I've ever seen one that requested an automated valuation not be shown, though.

And yes, listing agents can remove and change items in the listing history. They shouldn't be able to, IMO. The house I was in escrow on in 2009 had a history that clearly showed progressive list price decreases followed by a contract, fall from escrow, and relist at a higher price (due to short sale bank approving at a higher than offered price), and again progressive list price drops until I made my offer. After I went into escrow (while I was doing my inspections), all of that history disappeared, except for one of the low prices from the first round and then my offer, which was a little higher than that.


madhaus at burbed said...

When Redfin is scrubbed, I head over to Zillow. Often, but not always, it's there. Usually Zillow has full information that are listed on Redfin as "MLSListing #n" with the price removed.

Sometimes Zillow has DIFFERENT sales prices and dates that Redfin, always fun.

Also, when a listing gets pulled, bye-bye photos. I sometimes find them floating around on Movoto or Trulia or Sawbuck. I just keep on looking. Heh heh.