Already, just 7 days into the new year and there are 30 new listings.
10 priced from $1,090,000 to $1,895,000, two of which caught my eye.
5372 E Gleneagles Drive, aside from its other virtues, sits on 5.2 acres in Skyline CC – lots of that size are rare anywhere in the foothills and more so in places like Skyline. And it’s not one of those bowling alley lots either, where your 5 acres is 80 ft wide and 2 miles long, leaving you with 4 1/2 absolutely useless acres - except to the tax man. (listed by Long Realty)
And a yet to be completed new spec home in Finisterra priced at $1,895,000 ($349/sf) has joined the fray. (listed by Tierra Antigua Realty)
Encouraged, perhaps, by the spec that did eventually sell last July in Finisterra. It went for $2,500,000 ($280/sf) off a $3,500,000 ($392/sf) list price that had been reduced from its debut price $4,200,000 ($470/sf) in Feb 2010.
And 11 new listings from $159,900 to $590,000 – so about the same as for the $mil+ homes – even though this price range is out selling the upper-end by leaps and bounds.
And 9 new listings for the middle of the market – homes priced $600,000 to $999,999 –
so a very fair and even distribution of new listings.
And then there are approximately 20 so-called New Listings that are actually relisted old listings. That is, listings that have been on the market for a month or a year or however long, and either expired or were cancelled and relisted shortly thereafter, sometimes just minutes thereafter. And, while technically they may be new listings, because they have a new mls #, does anyone really consider them New Listings? No one that I know does, why would you?
And I wonder, doesn’t labeling them New Listings fly in the face of serving the public with honest and full disclosure as is so often touted by the real estate industry, to say nothing of causing consumers to flee to Zillow, Trulia and other sources for their real estate information?
I could see it, labeling a relisted old listing as a New Listing, if it were relisted by a different listing agent and broker. That makes sense to me, the new listing agent should be able to start off fresh while trying to apply their marketing know-how. But when it’s the same agent/broker just relisting an old listing, nah. But that’s how the system works, or, depending on your point of view, doesn’t work.
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