REO Final Sale Price / Accepted Offer Prices on MLS

[Manish V]

Hi everyone,

I have been trying to track the local REO listings in my market to get a trending of what % of the List Price the banks are generally accepting. I know this depends on a LOT of different factors etc. But -- anyway -- my specific question is: Why is it that after a REO MLS Listing goes to: "Pending" -- it never changes forward to "Sold" - and it never displays the Sale Price that the bank finally accepted? There are a dozen REO listings i was tracking that had accepted offers / went under contract ("Pending") in mid-May-08 - with a proposed Closing Date of early-mid-June-08. Its been 3 weeks since the Proposed Closing Date on many of them - yet - the MLS keeps saying "Pending" - and i cant find any details about the Closing/Accepted Bid price!

Does the broker or agent never go back and update the MLS with those details on REO properties?? Do REO MLS listings behave any different than "regular" listings in this regard?

If not through the MLS, is there any other roundabout way to lookup the closing prices on REOs that recently sold? Can someone kindly explain?

Thanks!