Shaka Smart’s house at 2701 Park Ave. has been taken off the market after being listed in June. Photo by Jonathan Spiers.
As 2015 comes to a close, some residential listings are being taken off the market, including two notable properties in Richmond and Goochland County.
The former home of Shaka and Maya Smart, at 2701 Park Ave. in the Fan, was taken off the market last week – five months after it was listed for $1.49 million. The same was the case over the weekend for Braedon, a 45-acre equestrian estate in Manakin-Sabot that was listed in April for $4 million; it had since been reduced to $3.6 million.
Both homes were listed through Joyner Fine Properties – the Park Avenue house by Ceci Amrhein-Gallasch; Braedon by fellow Joyner agent Richard Bower.
Bower did not return a call last week seeking comment. Amrhein-Gallasch did not want to discuss the Park Avenue listing specifically, but she said such changes can be an indication of the market.
The property at 1240 Shallow Well Road has been taken off the market. Photo courtesy of CVRMLS.
“I think it’s a reflection of October and November being slower,” Amrhein-Gallasch said, though she acknowledged an uptick in buyer interest in recent days. “I think it depends on whether or not (a) property is overpriced or not. That could be a piece of it. But the whole market was dead for two months, and now we’ve got multiple people looking at some of them.”
Reasons for taking a listing off market can vary, from a seller deciding to switch listing agents to wanting to do work on a house to make it more appealing. Another reason could be to alter a listing’s “days on market” number – which can be reset if a property is relisted.
The latter could seem an effective marketing strategy for agents. But Amrhein-Gallasch said she sees it differently, particularly noting a recent jump in buyer interest in her listings.
“I would not recommend that, because all of a sudden there are all these people in the market. So doing that, I don’t think, is the answer,” she said.
Laura Lafayette, CEO of the Richmond Association of Realtors, said a listing’s days on market isn’t always a reflection of the market or a property’s list price.
“Sometimes the listing and how long it’s on market may be determined by the listing agreement,” she said. “In other instances, Realtors may well have strategies about placing the house on the market and then pulling it off and putting it back on.
“I think Realtors have their strategies,” she said, “and I think that some of them have definite opinions about refreshing listings, that kind of thing.”
One notable property that was taken off market and then relisted the next year was a penthouse-style condo in the Villages at Rocketts Landing.
That property – unit 609 at 4820 Old Main St. in Henrico – was listed in late 2013 for $2.35 million. It didn’t sell and was taken off market for several months before it was relisted the following June at $1.77 million, said Keller Williams Realty agent Tiffany Stevens, who remained the listing agent throughout.
More than a year later, the condo sold this September for $1.35 million, just below its latest, relisted price.
Shaka Smart’s house at 2701 Park Ave. has been taken off the market after being listed in June. Photo by Jonathan Spiers.
As 2015 comes to a close, some residential listings are being taken off the market, including two notable properties in Richmond and Goochland County.
The former home of Shaka and Maya Smart, at 2701 Park Ave. in the Fan, was taken off the market last week – five months after it was listed for $1.49 million. The same was the case over the weekend for Braedon, a 45-acre equestrian estate in Manakin-Sabot that was listed in April for $4 million; it had since been reduced to $3.6 million.
Both homes were listed through Joyner Fine Properties – the Park Avenue house by Ceci Amrhein-Gallasch; Braedon by fellow Joyner agent Richard Bower.
Bower did not return a call last week seeking comment. Amrhein-Gallasch did not want to discuss the Park Avenue listing specifically, but she said such changes can be an indication of the market.
The property at 1240 Shallow Well Road has been taken off the market. Photo courtesy of CVRMLS.
“I think it’s a reflection of October and November being slower,” Amrhein-Gallasch said, though she acknowledged an uptick in buyer interest in recent days. “I think it depends on whether or not (a) property is overpriced or not. That could be a piece of it. But the whole market was dead for two months, and now we’ve got multiple people looking at some of them.”
Reasons for taking a listing off market can vary, from a seller deciding to switch listing agents to wanting to do work on a house to make it more appealing. Another reason could be to alter a listing’s “days on market” number – which can be reset if a property is relisted.
The latter could seem an effective marketing strategy for agents. But Amrhein-Gallasch said she sees it differently, particularly noting a recent jump in buyer interest in her listings.
“I would not recommend that, because all of a sudden there are all these people in the market. So doing that, I don’t think, is the answer,” she said.
Laura Lafayette, CEO of the Richmond Association of Realtors, said a listing’s days on market isn’t always a reflection of the market or a property’s list price.
“Sometimes the listing and how long it’s on market may be determined by the listing agreement,” she said. “In other instances, Realtors may well have strategies about placing the house on the market and then pulling it off and putting it back on.
“I think Realtors have their strategies,” she said, “and I think that some of them have definite opinions about refreshing listings, that kind of thing.”
One notable property that was taken off market and then relisted the next year was a penthouse-style condo in the Villages at Rocketts Landing.
That property – unit 609 at 4820 Old Main St. in Henrico – was listed in late 2013 for $2.35 million. It didn’t sell and was taken off market for several months before it was relisted the following June at $1.77 million, said Keller Williams Realty agent Tiffany Stevens, who remained the listing agent throughout.
More than a year later, the condo sold this September for $1.35 million, just below its latest, relisted price.