Comments on: Even more about Days on Market http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/ Tracking Charlottesville's Real Estate Market since 2005 Tue, 16 Mar 2010 11:15:38 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: The Charlottesville Bubble Blog is on a Roll | Real Central VA http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/comment-page-1/#comment-28120 The Charlottesville Bubble Blog is on a Roll | Real Central VA Thu, 08 Oct 2009 22:25:23 +0000 http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/#comment-28120 [...] Even More about Days on Market [...] [...] Even More about Days on Market [...]

]]> By: From the Archives - Do Days on Market Matter? | Real Central VA http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/comment-page-1/#comment-19175 From the Archives - Do Days on Market Matter? | Real Central VA Thu, 16 Oct 2008 11:01:22 +0000 http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/#comment-19175 [...] Even More about Days on Market and Realtors Gaming the MLS. [...] [...] Even More about Days on Market and Realtors Gaming the MLS. [...]

]]> By: Frank Borges LL0SA- Virginia Broker Blog.FranklyRealty.com http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/comment-page-1/#comment-10240 Frank Borges LL0SA- Virginia Broker Blog.FranklyRealty.com Sat, 17 Nov 2007 15:51:39 +0000 http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/#comment-10240 We have a DOMM and DOMP. THey are attached to the tax records. One covers just that listing, the other covers a) same agent relisting and b) multi agent listings. I'll be running a report shortly to see if there is a correlation with DOMP and % of ORIGINAL sales price (not just latest list price). Thanks, Frank We have a DOMM and DOMP. THey are attached to the tax records. One covers just that listing, the other covers a) same agent relisting and b) multi agent listings.

I’ll be running a report shortly to see if there is a correlation with DOMP and % of ORIGINAL sales price (not just latest list price).

Thanks,

Frank

]]> By: Jim Duncan http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/comment-page-1/#comment-6717 Jim Duncan Sat, 21 Apr 2007 12:57:37 +0000 http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/#comment-6717 Potential Buyer - Thank you for visiting and commenting. Amen and Amen. As a note, our MLS is in the process of implementing a "Continuous Days on Market" feature that will track the <em>true</em> Days on Market. that should make it easier to see the true data, but, nothing will be able to make up for a lazy or incompetent person interpreting the data. P.S. I know a good <a href="http://www.realcentralvarealestate.com/AboutJimDuncan.php" rel="nofollow">Buyer's Agent</a>. :) Potential Buyer –

Thank you for visiting and commenting.

Amen and Amen.

As a note, our MLS is in the process of implementing a “Continuous Days on Market” feature that will track the true Days on Market. that should make it easier to see the true data, but, nothing will be able to make up for a lazy or incompetent person interpreting the data.

P.S. I know a good Buyer’s Agent. :)

]]> By: Potential Buyer http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/comment-page-1/#comment-6716 Potential Buyer Sat, 21 Apr 2007 12:34:49 +0000 http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/#comment-6716 Just a note on DOM statistics from CAAR and other sources. We have been tracking properties in the Charlottesville area for a couple of years, with the intention of buying, eventually. Out of 29 properties that we have followed, 17 have had two or more distinct MLS numbers. (That's approximately 59%, and the true percentage is probably much higher, since some of these are recent listings.) So any published figures on DOM are completely bogus. A buyer's agent who does not research prior listings and report the true data to his/her client is not doing a competent job. Just a note on DOM statistics from CAAR and other sources. We have been tracking properties in the Charlottesville area for a couple of years, with the intention of buying, eventually. Out of 29 properties that we have followed, 17 have had two or more distinct MLS numbers. (That’s approximately 59%, and the true percentage is probably much higher, since some of these are recent listings.) So any published figures on DOM are completely bogus. A buyer’s agent who does not research prior listings and report the true data to his/her client is not doing a competent job.

]]> By: Krista http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/comment-page-1/#comment-6605 Krista Tue, 17 Apr 2007 23:28:07 +0000 http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/#comment-6605 Very well said, Apella. Both the CMA and BPO form include DOMs for listings and sales. Currently, I look the information up manually. Unfortunately, MLS data is used for more than buyers and sellers. Some Economists use the data to compile reports: http://www.nsdcar.com/homedex/current_homedex/current_homedex.pdf Very well said, Apella. Both the CMA and BPO form include DOMs for listings and sales. Currently, I look the information up manually.

Unfortunately, MLS data is used for more than buyers and sellers. Some Economists use the data to compile reports:

http://www.nsdcar.com/homedex/current_homedex/current_homedex.pdf

]]> By: Apella http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/comment-page-1/#comment-5906 Apella Wed, 04 Apr 2007 05:25:50 +0000 http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/#comment-5906 As appraisers there are more items to days on market for us. We are required by many of our clients to report the days on market. We are required to report accurately and not in a miss leading way. The days on market for our clients is a tool used should they be a lender that may need to take the property back and they are interested in knowing what the exposure time is. Often times we find that the MLS systems distort the days on market or refuse to disclose actual days on market making our job harder and requiring us to disclose to our client that the information may not always be relied on. To many sales brokers and agents in our area use the days on market as a tool to harvest new business by showing the new listing homeowner that they hold low days on market. It is vital to show the actual days on market not just for appraisers but also real estate people working to put together an informative CMA. The only other area that we have problems with is concessions and the reporting of actual data. As appraisers there are more items to days on market for us. We are required by many of our clients to report the days on market. We are required to report accurately and not in a miss leading way. The days on market for our clients is a tool used should they be a lender that may need to take the property back and they are interested in knowing what the exposure time is. Often times we find that the MLS systems distort the days on market or refuse to disclose actual days on market making our job harder and requiring us to disclose to our client that the information may not always be relied on. To many sales brokers and agents in our area use the days on market as a tool to harvest new business by showing the new listing homeowner that they hold low days on market. It is vital to show the actual days on market not just for appraisers but also real estate people working to put together an informative CMA. The only other area that we have problems with is concessions and the reporting of actual data.

]]> By: FBS Blog » Blog Archive » Not another post on days on market!? http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/comment-page-1/#comment-5759 FBS Blog » Blog Archive » Not another post on days on market!? Tue, 03 Apr 2007 04:13:44 +0000 http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/#comment-5759 [...] Yep, sorry.  But maybe this post is different, because we write MLS software and need to try to accommodate the many diverging views.   Wow, are there ever a lot of different ways of looking at this issue.  (Fortunately, the very cool REMBEX site and Google’s custom searching make finding all these views pretty easy.) [...] [...] Yep, sorry.  But maybe this post is different, because we write MLS software and need to try to accommodate the many diverging views.   Wow, are there ever a lot of different ways of looking at this issue.  (Fortunately, the very cool REMBEX site and Google’s custom searching make finding all these views pretty easy.) [...]

]]> By: Jim Duncan http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/comment-page-1/#comment-5672 Jim Duncan Mon, 02 Apr 2007 13:57:43 +0000 http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/#comment-5672 Athol - You're good to go. I would think I have de-spammed you enough times that Askimet would have learned by now ... The DOM number can help determine just how ready to complete a deal the sellers are. (how's that for a confusing sentence)? Athol -

You’re good to go. I would think I have de-spammed you enough times that Askimet would have learned by now …

The DOM number can help determine just how ready to complete a deal the sellers are. (how’s that for a confusing sentence)?

]]> By: Sock Puppet http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/comment-page-1/#comment-5670 Sock Puppet Mon, 02 Apr 2007 13:49:28 +0000 http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/#comment-5670 testing to see if I'm spamboxed here too... It's less about the price and house, than it is about the seller getting sick of trying to sell the house. After a while many sellers just want to complete a deal no matter what. Athol testing to see if I’m spamboxed here too…

It’s less about the price and house, than it is about the seller getting sick of trying to sell the house. After a while many sellers just want to complete a deal no matter what.

Athol

]]> By: Athol Kay http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/comment-page-1/#comment-5669 Athol Kay Mon, 02 Apr 2007 13:47:17 +0000 http://www.realcentralva.com/2007/04/02/even-more-about-days-on-market/#comment-5669 It's less about the house and the price as it is about the seller getting sick of trying to sell it. It’s less about the house and the price as it is about the seller getting sick of trying to sell it.

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