It happens from time to time.
Either the listing agent forgets to put the zeroes in the pricing, or by accident has entered a rental in the MLS under the Residential Sales tab.
It is what we call "An Honest Mistake." That error doesn't mean you will get to swipe someone's $400,000 home for $2,000. So. What does it mean?
Gratuitous GraphicIt means that, as we speak, auto-emails are going out all over Cary, NC, and Wake County, promoting a 2600 SF home as "For Sale" in one of Cary's most desirable neighborhoods at the price of one month's rent. I have seen it about 6 times already this morning while going through the alerts that go to clients.
It means that somewhere, someone will feel slightly ripped-off, as consumer entitlement mentality kicks in and they feel denied the bargain of a home for less than 0.5% of market price. When this happened a couple of years ago, I got a call from a fellow who ranged from skeptical to marginally hostile as I explained that the $200,000 property was not For Sale for $995.00.
It means that some agent is going to awaken to phone calls and emails, pass into absolute mortification, and scramble to get into MLS and change the price.
It means that the Triangle MLS History will show that the price was increased, and people will wonder, "What fool RAISES prices in this market."
It happens from time to time. But, there is really no free lunch.
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