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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (40798)	9/6/2005 4:48:13 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

realtor.com by its nature tends to be a little behind. Homes which already have contracts will still be shown as though they are available. A home technically and legally isn't sold until it settles and can continue to be offered for sale in case anyone wants to write a backup contract to the original contract that was accepted by the seller. However, homes are generally removed from realtor.com once they get a "finalized" contract which has no financing or other types of contingencies pending. In one week since the storm hit, I can imagine that much of the apparent inventory you said you saw on Realtor.com is now gone--just hasn't settled yet and is still on display. If the population of Baton Rouge doubled in the past week (as several stories I've seen do claim), how long would any reasonable amount of inventory last? I've read that homes which have sat for months have just now sold, and that many NO buyers are offering all-cash.

To: John Vosilla who wrote (40798)	9/6/2005 5:04:15 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

Another thing about what the public sees on Realtor.com.... Realtor.com gets its listings from local MLS systems all around the country, and I'm not sure of the timeframe each of these MLS systems uses to upload its listings to the site. Once-a-week updates might be the norm for everyone, or only for some MLS systems. These days, MLS updates to Realtor.com could conceivably be done daily...not sure, though. And another little fact worth remembering: state laws, local MLS rules, and the Realtor Code of Ethics require that the "true status of a seller's listing" be accuately portrayed to the public at all times....so I don't expect you'll see fudging of the data--although some people like to claim Realtors do this stuff all the time.