San Francisco Real Estate - Residential

Once again, San Francisco Chronicle discusses Days On Market

We previously addressed the issue of "re-listing" properties to give them a fresh chance at the market. In our September 23, 2006 article we discussed the Realtors' point of view and is worth reading. Though it does specifically address the act of pulling a property and putting it back on at a lower price to avoid the "reduced" stigma the arguement is very much the same.

The January 7th SFGate article deals with the Days on Market aspect of this same topic and has the provocative title "New life for old listings -- savvy or shady?".

To quote, "...In those ancient days of 1997, when few homes remained on the market for more than a couple of weeks, a listing with a DOM of, say, 21, suggested that the bidding wars might have passed this one by and maybe the seller would be willing to accept an offer just over the asking price..." and goes on to talk about the practice of "re-listing" as being misleading.

Decide for yourself. As far as Realtors go, we feel this practice serves the sellers' best interests for which they have a fiduciary responsibilty.

- Mick Orton

posted by SFResidence.com @ 7:59 AM