What is the point?

[waiting hawk]

I was checking out areas just cause and ran into this flipper. Wht is the point of:
Price Increased: 03/11/06 — $299,900 to $299,990
Price Reduced: 03/14/06 — $299,990 to $299,900
Price Increased: 03/16/06 — $299,900 to $299,990
Price Reduced: 03/18/06 — $299,990 to $299,900
Price Increased: 03/20/06 — $299,900 to $299,990
Price Reduced: 03/24/06 — $299,990 to $299,900
Price Increased: 03/30/06 — $299,900 to $299,990
Price Reduced: 04/02/06 — $299,990 to $299,900
Price Increased: 04/07/06 — $299,900 to $299,990
Price Reduced: 04/09/06 — $299,990 to $299,900
Price Increased: 04/17/06 — $299,900 to $299,990
Price Reduced: 04/20/06 — $299,990 to $289,900
Price Increased: 04/23/06 — $289,900 to $289,990
Price Reduced: 04/28/06 — $289,990 to $289,900
Price Increased: 05/02/06 — $289,900 to $289,990
Price Reduced: 05/07/06 — $289,990 to $289,900
Price Increased: 05/15/06 — $289,900 to $289,990
Price Reduced: 05/19/06 — $289,990 to $249,990
Price Increased: 05/22/06 — $249,990 to $289,990
Price Reduced: 06/01/06 — $289,990 to $289,900
Price Increased: 06/08/06 — $289,900 to $289,990
Price Reduced: 06/24/06 — $289,990 to $289,900
Price Increased: 07/03/06 — $289,900 to $289,990
Price Reduced: 07/10/06 — $289,990 to $289,900????????????????????????????????????????????????????????????????
http://www.ziprealty.com/buy_a_home/logged_in/search/home_detail.jsp?listing_num=K602019&page=1&property_type=SFR&mls=mls_so_cal&cKey=64dnm3vh&source=MRMLS

[solman]

My guess: to increase the people who see the listing. More price changes equals more time you show up in “what’s new in MLS today”.

[zk]

We get an email every day from a friend who is a realtor. She’s got some automated system set up where any time a listing that is in our area/price range changes (new listings, price changes, solds, expireds, cancelleds, etc.), it’s included in the email. (We’re not thinking of buying any time soon, but my wife is quite happy looking at all the reductions out there.)

Anyway, I’m sure lots of realtors have emails like this set up. And this flipper’s house would show up in the email every time he changes the price. Maybe that’s another reason he does it.

Poor bastard. He’s desperate.

[Daniel]

That’s the ONLY reason he does it. It shows as a fresh/updated listing in automatic searches. I’ve seen this trick many times.

[SD Realtor]

You guys are all correct. Our MLS here in San Diego (and I assume all other MLS’s) enables us Realtors to set up automated email searches to send out to leads. We can setup the search anyway we want. Most of us will setup the search to capture new listings and ANY changes in a listing or listing status. Thus any time there is a change in status such as the price then that listing will get captured by the automated search and thus sent out to all of our leads. Even if the price change was not any literal change at all.
So yep it is all a game we play to get our listing more attention.

[speaker]

awesome…..what can we expect the new marketinig gimmick to be!? sign spinners!? oh wait…..

“End of line.”

[jacksandgo]

LOL…I wished it was the end of the line for all the marketing noise. More likely, the gimmicks will increase as desperation increases. An unfortunate reality most of the time. 🙁

[LookoutBelow]

The marketing noise will end as soon as the dollars to spend on it dry up. I would imagine pretty quickly. They are trying everything to move this overpriced stuff. Sales is what generates a marketing budget. No sales, no money for silly gimmicks to sucker people into a “More foolish than I” transfer of ownership

When the buying public realizes that its hideously over priced, then NO AMOUNT of fancy marketing will sell it to a knowing buyer. I think were pretty close to being there now, by next summer it will be a slaughterhouse for people who MUST sell and cannot ride it out. Which will be for quite some time. I expect 10-20 years. This will be as bad as the S&L failures we already saw.

[Author]

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