patrick.net

Flip... the listing seemed to have changed

Property History for 2514 -2516 IVY Dr
Date Event Price Appreciation Source
Oct 31, 2011 Listed (New) $399,000 -- EBRD #40549604
Oct 01, 2010 Sold (Public Records) $290,000 2.2%/yr Public Records
May 24, 2010 Show Pending (Pending - Show for Backups) -- -- Inactive EBRD #40467254
May 18, 2010 Show Listed (New) ** -- Inactive EBRD #40467254
Jul 01, 1994 Sold (Public Records) $205,000 -- Public Records

That sure looks screwy. The top two listings have different numbers, suggesting they are not the same one, but all the other ones are the same. Redfin usually lists two sale records, MLS and public (which comes from the County Recorder). That's because MLS and County don't always agree.

So someone bought this sometime between October 1 and 13, then turns around and lists it again? And that's a HECK of a divergence between the October 1 and October 13 sale prices, supposedly for the same transaction.

Damned fast flip with some really screwy reporting going on via MLS. Some kind of funny paperwork with a high transaction price and off-contract kickback maybe? Or the opposite; deliberately low transaction for tax records?

Zillow gives this place a ZEstimate of around $440K.

$290 or $390 WTFs the difference if I get a loan for it. I'm still in debt and the Va Jay Jay still thinks I own something. it's all good untill that fantasy blows up usually 10-15 yrs in. bla Bla BLa! broker than broke.

Could easily be the realtor lying about the sale price on the MLS. Or a typo.

There was a house that was famous on SocketSite, where the house got foreclosed, but the realtor reported it as sold for a high price on the MLS -- 2041 Sacramento. It was originally listed for $2,095,000, then later reduced to $1,999,000. Then the realtor listed a sale on the MLS at $1,950,000. It never actually sold. What really happened is that the property got foreclosed at $1,880,877. Nice attempt at fraud:

http://www.socketsite.com/archives/2010/10/while_the_mls_reports_a_sale_public_records_report_a_fo.html

If this were SF, I would also ask if the duplex was divided into TICs or condos, but that seems less likely in Oakland.

Malkovich says

Can anyone explain this pricing history?

I looked this up in the MLS and it looks like simply a fat-finger. The property did sell for $290,000 last year, not $390,000 as input in the MLS.

When it sold last year, it was noted as needing TLC. This year, the listing notes mention work done (HVAC, flooring).

I think the odds of agent sloppiness are much greater than the odds of foul play here.