When Banks Take Down Listings

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capocorso_IHB

New member
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.

This morning the listing is gone from Redfin.

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?

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.
 
"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?"

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.
 
I think if the house sold it would show up on the status list as "back up offers accepted" correct?

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?
 
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