When Banks Take Down Listings

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capocorso_IHB

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<p>As I mentioned before I am starting to closely watch FC homes. I recently posted a listing I have been watching in Santa Clarita that had been on the market over 6 months. It had been through two price reductions and was listed at about 80,000 less than it's last 07 sales price.</p>

<p>This morning the listing is gone from Redfin. </p>

<p>In your experience why would a bank take a listing off the mls? Are they just hoping to relist in a week or so and not have the stigma of being on the market 195 days?</p>

<p>I'm still hoping this home sells to someone else under 600, I think that will start the avalanche in the area. That said I'm not sure there is a Greater Fool out there that will pay 600. I'm waiting for 500-550 in a year or hopefully less.</p>
 
<em>"In your experience why would a bank take a listing off the mls? Are they just hoping to relist in a week or so and not have the stigma of being on the market 195 days?"</em>





That is a possibility. Also, listings do have an expiration date, and if nobody is watching this REO for the bank, the listings may simply expire.
 
<p>I think if the house sold it would show up on the status list as "back up offers accepted" correct?</p>

<p>I was also wondering if they were taking it off the mls and trying to sell it in a foreclosure auction. Anyone know where there is a listing for foreclosure auctions in LA county?</p>
 
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