Sometime after my meeting with the bank Monday and my search Wednesday morning, the Jake Butcher listing was pulled.
I emailed the bank Wednesday and it appears Whirlwind is being pulled from the market temporarily only to be re-listed at the original price. The original price, at the time of my bid, was $1,200,000.
So why does a lender or realtor pull a listing only to put it back on the market a few weeks or months later?
Generally, there are two reasons:
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| Jake Butcher Mansion sunroom in current condition |
1-The house needs repairs, isn't showing well or the market indicates the value isn't there. This scenario typically results in a price adjustment.
2-The house has been on the market too long. Showings drop off and a stigma develops that there's something wrong with the house. This scenario does not always result in a price adjustment. Typically, the home is removed from the market, staged, new photos are taken and the home goes back on the market at the original price a few weeks to a few months later.
In my opinion, the bank is off the mark in their approach to selling this house.
