{"id":3405,"date":"2008-07-20T17:51:18","date_gmt":"2008-07-21T00:51:18","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=3405"},"modified":"2008-07-21T12:58:36","modified_gmt":"2008-07-21T19:58:36","slug":"heres-one-way-to-rid-the-mls-of-overpriced-listings","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3405\/heres-one-way-to-rid-the-mls-of-overpriced-listings\/","title":{"rendered":"Here’s One Way To Rid The MLS Of Overpriced Listings"},"content":{"rendered":"

This Idea Is Submitted With Tongue Buried Deep In Cheek<\/strong><\/p>\n

Sometimes I can only shake my head as I look at some of the listings in the MLS. Most good agents won’t take a listing that is overpriced… and if so, it’s usually not overpriced by much.<\/p>\n

When studying recent sales, I notice that the trend for a home to sell within a few percentage points of its current list price continues. Ultimately, it all comes down to supply and demand. If we can’t increase the demand – maybe we should restrict the supply… especially of overpriced listings.<\/p>\n

Well I came up with an idea. What would happen if a property tax reassessment could\u00a0 be made when a seller put their property on the market?<\/p>\n

As my good friend Jeff Brown<\/strong><\/a> would say, ‘Now don’t jump the gun, locomotive breath.’<\/em> This knife would cut both ways. For those who are paying low property taxes – they would see a tax hike. But for foreclosures and other distressed properties – they would see a tax reduction.<\/p>\n

The benefit of using this system is that sellers would be much more reluctant to put their property on the market for some ridiculous price. The tax assessor would be able to say – Hey, you’re the one who said your property was worth that much – quitcherbitchin.<\/em><\/p>\n

On the other hand, buyers like some of my current clients would get a break on the purchase of their next homes. For example, on one property we are considering, the current taxes are nearly $7000 a year – but those taxes will be reduced by at least 40% after the purchase and subsequent reassessment. Having that reassessment right now would reduce the upfront costs of the purchase – not to mention that more buyers could qualify to purchase a property like this.<\/p>\n

There you go. I’ve tossed a grenade out there for you. Anyone feelin’ froggy?<\/p>\n","protected":false},"excerpt":{"rendered":"

This Idea Is Submitted With Tongue Buried Deep In Cheek Sometimes I can only shake my head as I look at some of the listings in the MLS. Most good agents won’t take a listing that is overpriced… and if so, it’s usually not overpriced by much. When studying recent sales, I notice that the […]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-3405","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3033,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3033\/save-a-house-ride-a-realtor%c2%ae\/","url_meta":{"origin":3405,"position":0},"title":"Save a House, Ride a REALTOR\u00ae","author":"Dave Phillips","date":"April 28, 2008","format":false,"excerpt":"(If you are not a country music fan, you may have a serious character flaw, but that is the subject of another post on another Blog.\u00a0 For now, here is a video that will help you \u201cget\u201d the title of this post.) Save a Horse, Ride a Cowboy Across the\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"reduction","src":"https:\/\/i0.wp.com\/www.towerhobbies.com\/images\/towirlogo_175.gif?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1421,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1421\/a-move-towards-mediocrity-and-beyond\/","url_meta":{"origin":3405,"position":1},"title":"A Move Towards Mediocrity – And Beyond","author":"Doug Quance","date":"May 13, 2007","format":false,"excerpt":"Many Agents Choose To Be Less Than They Can Be In an industry overflowing with too many agents chasing too few opportunities, one might think that this level of competition would cause an overall increase in the professionalism and dedication of its principals. I submit to you - that's not\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2801,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2801\/zillowcom-makes-its-first-mls-wide-feed-agreement-and-in-the-process-disintermediates-its-first-idx-cartel\/","url_meta":{"origin":3405,"position":2},"title":"Zillow.com makes its first MLS-wide feed agreement and, in the process, disintermediates its first IDX cartel","author":"Greg Swann","date":"March 19, 2008","format":false,"excerpt":"Here's the PR, which the vendor cheerleaders will have reported:*Leading real estate Web site Zillow.com and MLS Property Information Network today announced a partnership to feed listings from the New England area MLS to Zillow.com on a daily basis. This partnership initiates the first participation at the MLS level in\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1200,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1200\/is-truliacom-in-the-mls-business-is-rebny-in-the-dumbed-down-listings-business-or-will-they-meet-in-the-middle\/","url_meta":{"origin":3405,"position":3},"title":"Is Trulia.com in the MLS business? Is REBNY in the dumbed-down listings business? Or will they meet in the middle?","author":"Greg Swann","date":"March 23, 2007","format":false,"excerpt":"Trulia Blog:Trulia was selected by the Real Estate Board of New York (REBNY), New York City\u2019s largest and most prestigious real estate group, to power the first real estate search engine dedicated exclusively to New York City-based listings.More:What does this mean? For consumers, the new search engine will bring together\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":333,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/333\/ask-the-broker-why-would-an-mlsidx-system-forbid-commingling-with-listings-from-other-sources\/","url_meta":{"origin":3405,"position":4},"title":"Ask the Broker: Why would an MLS\/IDX system forbid commingling with listings from other sources . . . ?","author":"Greg Swann","date":"September 14, 2006","format":false,"excerpt":"Giving my prominent proboscis a good hard tweak, a certain pseudonymous Scarlet Pimpernelesque semi-retired real estate weblogger asks: \"Are you trying to say that the MLS' are not fascist dictatorships???\" The question refers to a weblog entry I posted last night chastising Trulia Blog for hyperbole in its complaints about\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2392,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2392\/a-bolt-from-the-blue-for-the-ftc\/","url_meta":{"origin":3405,"position":5},"title":"A Bolt From the Blue for the FTC","author":"Russell Shaw","date":"December 18, 2007","format":false,"excerpt":"I have to agree with the FTC 's initial action but for all the wrong reasons. 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The position of\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"bold from the blue","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2007\/12\/bold%20from%20the%20blue.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=3405"}],"version-history":[{"count":5,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3405\/revisions"}],"predecessor-version":[{"id":3429,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3405\/revisions\/3429"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=3405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=3405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=3405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}