Friday Morning: Erasing History -- When a “New Listing” Isn’t New

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Excellent piece of work this morning over at Manhattan Beach Confidential on the topic of ‘bogus re-listings’ -- that is, new listings that aren’t really new:

‘Re-listing is a common practice meant to wipe away the true listing history of a home. The tactic hides true days on market and the history of price reductions (if any) on the property.’

More: ‘The effect is to deprive potential buyers of valuable information, and to cloud the data used by many people to gauge the health or direction of the local real estate market.’

MB Confidential does an excellent job pointing out the retreads in that market, and reports that relisting has made the market appear to be stronger than it really is, by making it appear that houses aren’t sitting as long on the market.

Thoughts? Comments? Insights?
Illustration Credit: MB Confidential