Active & Pending Listings not that helpful

[Fernando]

Even now, listing agents still list their homes lower than the made.
It's been like that for at least 15 years.
The list price doesn't really help my appraisal except if pending, I may call the agent to see if he/she will give me the ratified offer.

As an investor, I saw this recently listed price below market (under million dollars) and got me all excited.
Then I thought about it and other buyers think the same and would bid up the price. Would have wasted my time.
I want a good low offer. It's hard to get the rent if home sold over $1,000,000.

 

[George Hatch]

When appraising homes I do a sale/list ratio for every closed sale I grid in my SCs. I've been doing that ever since the 1004MC came out. Looking at my direct comps and the less direct comps helps me to understand what the list price on the pending might mean. I also track the DOMs of my comps as a means of supporting my opinion of exposure time.

 

[Fernando]

I saw this house last month near my rental.
It was asking $1,250,000. I thought that was below market.
It just closed at $1,800,000. I didn't expect that at all.

I remembered visiting the open house. Listing agent didn't really cared about me. Maybe it was how I look, not White enough.

 

[George Hatch]

If you had a bunch of them doing that it would be worth some commentary in your analysis.