Increasing list price?

[Anonymous]

Why would someone increase the list price after the house has been on the market?

This home has had the list price raised twice, and I can't figure out why.
http://www.redfin.com/MD/Bethesda/9413-Kingsley-Ave-20814/home/10680119

[Anonymous]

I've seen this before but usually with a realtor's note saying something like, "relisted with a brand new roof" or something to note that they did a big improvement and relisted.

[Anonymous]

Since it was delisted 11/10 and then relisted 12/5 with a price increase of $12K, then delisted 12/10 and relisted 1/2 with a price increase of $14K, one would assume that while it was off the market, they did some repairs or renovation that they feel adds value. They also have in the description:

Listing wrote:New energy efficient windows, SS appliances and W/ D. Refinished HW floors. Large open floor plan. Newly carpeted family room opens to large backyard.

which sounds to me like they took it off the market to redo the floors, then took it off the market to replace the windows. But the only way you'll know is if you have your realtor ask the listing agent for an explanation.

[Anonymous]

yup, bid it up!

[Anonymous]

I'm an agent (although not the listing agent) and I think 16:27 is correct. The listing status was changed from active to temporarily off the market twice and changed back corresponding with the new comments and photos.

Doesn't apply to this house, but you also will often see price increases with short sales. House for sale for x, gets contract, contract goes to bank, bank wants 115% of x, buyers balk, house goes back on market at 115% of x.

[Anonymous]

I thought that might be the reason, but I don't think the house is worth the increased prices. Refinishing the floors, adding some carpet, and new windows doesn't seem to warrant a $26,000 increase, does it? I've refinished my floors, it is a couple of grand. I don't know what windows cost though.

I already knew the reasoning behind it happening with short sales, but this house seems to be a flip.

[Anonymous]

Then you see weird things like this:

http://www.redfin.com/VA/Falls-Church/502-Walden-Ct-22046/home/9851130

It started out at $1,375,000 (2.5 months ago). They recently lowered it to $1,299,000 on Feb 4, and then just a day later they raised it by a whopping $999! Why?