Los Angeles

[Andiamo53]

I couldn't resist:

http://www.redfin.com/CA/Glendale/740-S-Adams-St-91205/home/7173367

[plu]

you would wonder why the agent won't even take some time to take a photo during the day. I'm glad that it has the agents name on there, makes you think twice working with him or her

[Goran_K]

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plu wrote:

you would wonder why the agent won't even take some time to take a photo during the day. I'm glad that it has the agents name on there, makes you think twice working with him or her

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Definitely, but more than likely this was a pocket listing that the agent already tricked some poor person into over paying for, so taking pictures that don't look like they were taken out of Nightmare on Elm Street wasn't on the top of their list of things to do.

[Andiamo53]

Actually, it looks like  a dicey short sale to me. The pending price on this place is way too low for the area. Probably the agent already had a buyer (and offering price) in mind when they posted the listing. I'm guessing the agent just went through the motions of listing the house because the loan servicer required it. But the agent had no intention of actually attracting a buyer through the MLS (hence the stupid pictures).

What I'm wondering though is if the loan servicer requires a listing on the MLS (presumably to mount a good faith effort in attracting buyers) do they ever look at these phony listings  and take them into account when considering/rejecting (obviously) low offers?

[Goran_K]

This is actually the kind of fraud I don't mind. If agents and banks are going to cannibalize their business to destroy comps for short term gain, then by all means, have at it. 

[PonziScheme]

Already pending. Fishy alright

[Bruin99]

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Andiamo53 wrote:

Actually, it looks like  a dicey short sale to me. The pending price on this place is way too low for the area. Probably the agent already had a buyer (and offering price) in mind when they posted the listing. I'm guessing the agent just went through the motions of listing the house because the loan servicer required it. But the agent had no intention of actually attracting a buyer through the MLS (hence the stupid pictures).

What I'm wondering though is if the loan servicer requires a listing on the MLS (presumably to mount a good faith effort in attracting buyers) do they ever look at these phony listings  and take them into account when considering/rejecting (obviously) low offers?

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I agree with your assessment, and don't believe that loan servicers even bother to check with the MLS.  I can even remember one listing that blatantly said in the public comments "No showings.  House is being listed for purposes of a loan modification."

[Andiamo53]

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Bruin99 wrote:

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I agree with your assessment, and don't believe that loan servicers even both to check with the MLS.  I can even remember one listing that blatantly said in the public comments "No showings.  House is being listed for purposes of a loan modification."

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That is truly unbelievable. You'd think the MLS would not allow such non-listings but then if we consider who controls the MLS, I guess it's no surprise.

[Pasta]

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Andiamo53 wrote:

I couldn't resist:

http://www.redfin.com/CA/Glendale/740-S-Adams-St-91205/home/7173367

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Andiamo,

we've seen worse...  often there aren't any pics!

[Pasta]

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Andiamo53 wrote:

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That is truly unbelievable. You'd think the MLS would not allow such non-listings but then if we consider who controls the MLS, I guess it's no surprise.

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Who controls the MLS?