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I've been tracking a particular neighborhood (SWFL) for 4 months with the County Property Appraisers website, as well as, the local MLS listing website.
I'm curious, of the 15 houses sold since July only 3 had been listed on the MLS website.
What can that be attributed to?
One of these properties 3/2 pool home had been on the MLS listing for a a year (last asking price $225K) and was taken off. It remained off the MLS listing for around 6 months and now it just showed up on the Property Appraisers website as sold to a local rental investor for a very very low price ($120K).
One property that was also on the market for a long period of time, was sold at a very low price (last asking price $190K, sold for $155K) to a neice of a realtor from the same realty company that had it for sale.
Is there a secondary listing or something else that the public is not privy to?
It just seems odd that all these houses are being sold and they are not listed on our local MLS.
Last edited by Carbondated; 11-01-2007 at 09:04 AM..
Sometimes sales show up on the assessor's site when it's not an actual sale - sometimes there's a quit claim deed due to divorce or death of one of the owners, or owners putting the property into a trust name, an LLC, etc. It appears to be a transfer when it's actually just a change in the ownership name.
Thanks for the response WendyK.
I did look into the possibility that their may have been some simple transfers, but I found out that 14 of them are listed as WD (warranty deeds) and 1 was listed as a CT (certificate of title). None were TR (trustee deeds) or QC (quit claims) or OT (other, which is used when adding/subtracting or changing names).
I've noticed that lots of places for sale don't seem to be on the MLS sites (or at least not accessible to me on the MLSes). In Delaware County NY, for example, it seemed that roughly half the places for sale last summer were listed only on the various real estate brokerage websites and not on the MLSes that cover the area.
In addition, there are "pocket listings", a term that applies to an arrangement between a seller and agent where the property is not listed.
A fair number of my real estate colleagues are in the business for their own investments and do not provide services to buyers and sellers. In some cases, the best transactions never make it to the retail market.
I also know of 40 condos under bank ownership now for sale that are not on any MLS.
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