Property Q&A in Sacramento>Question Details

Me, Home Buyer in Sacramento, CA

Does anyone understand what "off market" means in the context of a house that has been listed "for sale" for quite a long time?

Asked by Me, Sacramento, CA Mon Jul 18, 2011

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This question is about this property: http://www.trulia.com/homes/California/Sacramento/sold/60991…

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Answers

8
Me, I guess if you read all the answers below, the suggestion is to use Metrolist for accurate, up to date information on listings. Trulia listings are entered, and maintained manually.

There is no penalty for inaccuracies of listings. This is a prime example. This property is available for sale as a short sale. Work with a buyer's agent familiar with short sales to help you obtain your goal of home ownership for the least stress and aggravation, with the best price and terms.

Good luck me! :)
Web Reference: http://www.suearcher.com
0 votes Thank Flag Link Mon Jul 18, 2011
Trulia Voices is a great place to come for opinions, predictions, explanations and advice. Another part of the Trulia web site is not so great. Listings on Trulia do not have a high degree of accuracy compared to Metrolist. That is why the agents here always look at Metrolist when asked about a Trulia listing.
0 votes Thank Flag Link Mon Jul 18, 2011
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
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"Off market" means that the property is no longer offered for sale. The particular property to which you refer (9116 Harvest Way) has never been in "off market" or "withdrawn" status, but it was in "active short sale contingent status" for a little under 6 weeks. A few weeks after the property came back as active short sale, the price was increased from $149,000 to $159,000 and then the price was reduced to the current asking price of $154,900). This pricing history suggests that the lender may have countered with a higher price and the buyer did not agree to come up in price. The property has been back in active short sale status since June 10th. I hope this helps.
0 votes Thank Flag Link Mon Jul 18, 2011
Ute Ferdig -…, Real Estate Pro in New Castle, DE
MVP'08
Contact
Me,
In respect to the property in question, that may be an error on the Trulia side, for some reason the status is incorrect (entry error?) Metrolist our local MLS shows the property as Active Short Sale, had an offer but appears buyer may have backed out. It is best to search at the site closest to the source of the data (in this case Metrolist) as "things" can get lost in the translation. Have your agent set up a search for you.

Metrolist defines off market as still having an active listing contract, but not on market for some reason. Sometimes it is something like there is work being done at the house, the owners/tenants are moving out, the owners are sick, around the holidays they don't want showings, a variety of reasons.

But the property you've asked about does not show a history of off market on the current listing.
0 votes Thank Flag Link Mon Jul 18, 2011
Hi Me!
Good price for all that square footage in College Greens. Many nice homes listed there around that price.
If you note the date on Trulia, it looks like it was "Off Market" in 2007--or maybe the public view on Trulia is different than what we see. It is currently available for purchase as a short sale. There are different categories on the Metrolist, and "off market" is one of them. It simply means the home is not available for showings, or theoretically not available for purchase--at least via the Metrolist.
Hope all our answers help!
Web Reference: http://www.kyleeonline.com
0 votes Thank Flag Link Mon Jul 18, 2011
"Temp Off Market" can mean several things but it has not been technically withdrawn or expired (yet). A seller may use this status to stop buyer traffic while they (e.g.,) finish pest repairs, paint, etc.

During this time, the seller generally doesn't want any viewing to occur.
Web Reference: http://www.JayEmerson.com
0 votes Thank Flag Link Mon Jul 18, 2011
It means the owner has decided to remove the home from it's active status. It's sometimes a way to draw more attention to the home when it comes back active (usually at a reduced price). Homes become stale on the market and some buyers feel there must be issues with a home after such a long time on the market.
0 votes Thank Flag Link Mon Jul 18, 2011
Either the home has been Withdrawn from the market, or it has Expired.
0 votes Thank Flag Link Mon Jul 18, 2011
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