Have any of you noticed pending sale signs in your neighborhood only to see the same owners still living there or relisted a few months later?
I was talking today with a local store owner about the neighborhood and housing decline but of course…He was telling me that his friend owns a house that I saw listed on the MLS as a pending sale. The pending sale apparently never took place because all three offers he received fell out of escrow.
Tonight I started to notice homes just listed a few weeks ago as pending sale are relisted again. In one case the house is back 20 k lower…
Example:
631 W Leland Dr
Fullerton, CA 92832
Property Type: Single Family MLS#: P609392
Status: Active
Bedrooms: 4
Year Built: 1961
County: Orange
Pending Sale @ 399,000 status listed mid April 2008
Relisted Active @ 380,000 May 4th 2008
I know this isn’t a big surprise to all here but the volume seems to have increased in my general search area of zip codes.
Is there any way to measure the pending sale graveyard or fall out?