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February 3, 2009

Last Week's Biggest Sales

1. MANHATTAN BEACH $3,250,000
290 Amherst Street GMAP (left)
5,058-sf, single-family house on an 11,440-sf lot, according to Property Shark. Entered into contract on 10/21/08; closed on 1/15/09; deed recorded on 1/30/09.

2. PARK SLOPE $2,400,000
383 3rd Street GMAP (right)
Back in late May, when this 22-foot-wide, 3,200-sf, four-family brownstone was a House of the Day, its sellers were looking for $2,695,000. The final asking was $2,499,990, according to StreetEasy. Entered into contract on 8/8/08; closed on 1/15/09; deed recorded on 1/26/09.

3. CARROLL GARDENS $2,225,000
192 President Street GMAP
A House of the Day last June, when it was asking $1,928,000. The listing for the 3,507-sf, four-family claimed it was "priced to sell," and it seems it was. Entered into contract on 9/18/08; closed on 1/14/09; deed recorded on 1/28/09.

4. PROSPECT HEIGHTS $2,175,000
On Prospect Park/1 Grand Army Plaza, Unit 2J GMAP
2-bed, 2-bath, 2,000-sf unit in the Richard Meier-designed condo, according to StreetEasy. Entered into contract on 2/21/07; closed on 1/9/09; deed recorded on 1/27/09.

5. BROOKLYN HEIGHTS $1,732,328
One Brooklyn Bridge Park, Unit 1132 GMAP
Sale included a parking spot. Entered into contract on 8/13/07; closed on 1/19/09; deed recorded on 1/28/09.

Photos from Property Shark.

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Comments

WOW - amazing for the Carroll Gardens place that it went 300K over asking
Team Bull is in the HOUSE - hahahaha!

Posted by: gemini10 at February 3, 2009 11:35 AM

Certain posters will say that these will all be back on the market when these Asshats figure out that there's no bonus in January or February.

Millions of dollars of real estate close every week in Brooklyn, people. There is nothing to run and tell the king about.

Posted by: daveinbedstuy at February 3, 2009 11:37 AM

Is the Meier sale incorrect? Or does it really take that long to close? Sheesh!

Posted by: InsertSnappyNameHere at February 3, 2009 11:39 AM

This should be good.

Where's the What with his day old Macy's layoff cut and paste.

Posted by: 11217 at February 3, 2009 11:40 AM

It is interesting to note that the most expensive property sold above (Manhattan Beach) entered into contract on 10/21/08, certainly AFTER all hell broke loose.

This would leave room to believe that not every sale in NYC is tied to Wall Street money.

Posted by: 11217 at February 3, 2009 11:43 AM

am a bit of a novice when it comes to home buying/selling
but why DOES it take 4 months or more to close on a house? could both parties really be going back and forth so much they can't hammer out a deal? Isn't timing crucial for the loan to remain locked etc?

Posted by: gemini10 at February 3, 2009 11:43 AM

Snappy, I think they had to wait for the apartment to be built. More curious is the 5 months to close on the 3rd Street house.

Posted by: slopefarm at February 3, 2009 11:44 AM

"but why DOES it take 4 months or more to close on a house?"

Well in my case, it took that long because the sellers attorney embezzled my down payment and then committed suicide before we closed.

You never know!

Posted by: 11217 at February 3, 2009 11:45 AM

Holy crap sticks 11217! That really happened?

Posted by: InsertSnappyNameHere at February 3, 2009 11:48 AM

11217 - WHAT???????????????????????????????

Posted by: gemini10 at February 3, 2009 11:48 AM

lots of times buyer is selling an apartment to finance the house and request a later closing date so they can time the closings

Posted by: Ringo at February 3, 2009 11:49 AM

"Is the Meier sale incorrect? Or does it really take that long to close? Sheesh!"
yeah it does when you enter into contract on building during construction phase and you don't close until it is ready to be occupied..That is the usual case. sheesh.

Posted by: Petebklyn at February 3, 2009 11:49 AM

Have we lost all members of Team Bear today???

Posted by: daveinbedstuy at February 3, 2009 11:50 AM

That really happened.

It was insane. Apparently the attorney (who the seller had worked with on 2 previous real estate transactions and LOVED) got mixed up in some gambling, stole mine and 20 other people's downpayment and then killed himself in his driveway on long island. He had a wife and 3 kids.

Luckily for me, my downpayment had gone into escrow so it ended up being the seller that had to wait 6 months to recover the money from some sort of state fund set up for these kind of circumstances.

Needless to say, I feel lucky and makes my first home purchase all the more special because it was a labor of love to get there.

Sounds like a movie of the week, NO??!

I remember getting the news...I was on a business trip in Los Angeles and almost DIED!

Posted by: 11217 at February 3, 2009 11:52 AM

11217, if HGTV ever creates a show of First Time Buyer Horror Stories, you simply MUST contact them! I would have sh*t enough bricks to build a house!

Posted by: InsertSnappyNameHere at February 3, 2009 11:55 AM

Oh and this was all FSBO so I had no broker holding my hand through any of it. I was just learning as I went!!

I feel quite qualified to sell my place FSBO when/if the time comes because I learned so much.

Posted by: 11217 at February 3, 2009 11:55 AM

"Where's the What with his day old Macy's layoff cut and paste."

Naw Retard I have something better! You see folks there is tons of Shadow Inventory out there and when the fire goes off, it's going to be Code Red!

Record 19 Million U.S. Homes Stood Vacant in 2008 (Update1)

http://www.bloomberg.com/apps/news?pid=20601087&sid=ap.iU9iqfn20&refer=home

The worst U.S. housing slump since the Great Depression is deepening as foreclosures drain value from neighboring homes and make it more likely owners will walk away from properties worth less than their mortgages. About a third of owners whose home values drop 20 percent or more below their loan principal will “hand the keys back to the bank,” said Norm Miller, director of real estate programs for the School of Business Administration at the University of San Diego.

“When you’re underwater and prices continue to fall, you tend to walk,” Miller said in an interview. “It’s a downward spiral that’s tough to stop because it feeds on itself. Foreclosures encourage other foreclosures and falling prices discourage buying.”

Oh when those retails come online, what you you think is going to happen???

Buh Bye Retards...

The What (Obama will save us)

Someday this war is gonna end...

Posted by: Return of The What at February 3, 2009 11:59 AM

It was pretty scary, InsertSnappyName. Great story though, no?

Luckily, my attorney was terrific and within a few days researched enough to let me know that my ENTIRE LIFE SAVINGS wasn't gone and that as far as I was concerned, things would still move ahead. Those couple days in between (away from home and on a high stress business trip) were not fun though.

Now if I were the seller and had to wait for that downpayment money for 6 months, it would have been devastating. Luckily she had already bought her new place and didn't need that money right away.

Posted by: 11217 at February 3, 2009 11:59 AM

I thought you might post that The What. Too bad you don't realize that these articles are mostly referring to a few ravaged areas like Phoenix, Las Vegas, Los Angeles and South Florida. You are too stupid to realize that, I'm sure.

NEW YORK TIMES
Rise in Pending Home Sales Reported
February 3, 2009

Enticed by tumbling housing prices, more Americans signed contracts to buy homes in December despite widespread concerns about the economy, an industry group reported on Tuesday.

The National Association of Realtors said that pending home sales rose 6.3 percent in December from a month earlier, with the South and Midwest showing strong gains. The number of pending home sales — those in which a buyer has signed a contract but not closed — were up 2.1 percent from December 2007.

“The monthly gain in pending home sales, spurred by buyers responding to lower home prices and mortgage interest rates, more than offset an index decline in the previous month,” Lawrence Yun, chief economist of the Realtors’ group, said in a statement. “The biggest gains were in areas with the biggest improvements in affordability.”

Posted by: 11217 at February 3, 2009 12:04 PM

Hey What...you conveniently missed this one...

Feb. 3 (Bloomberg) -- More Americans signed contracts to buy
previously owned homes in December for the first time in four months, signaling slumping prices may be boosting demand.
The index of pending home resales climbed 6.3 percent to 87.7, the first increase since August, from a revised 82.5 in November, the National Association of Realtors said in a report today in Washington.

Posted by: daveinbedstuy at February 3, 2009 12:05 PM

As far as the sale in Manhattan Beach goes that house is right on the water and the people who bought it live around the corner. It is one of the nicest blocks on MB that property is worth it.

Posted by: Local Broker at February 3, 2009 12:08 PM

The Manhattan Beach house is not a market indicator. It is part of a closed market that caters to members of a Jewish religious community. This house is actually right across the street from a religious center and within walking distance to synagogues. These houses always sell to members of the community.

Posted by: bk14 at February 3, 2009 12:08 PM

DIBS, the majority of those houses were foreclosures and short sales--distressed properties. Don't be so selective.

Posted by: bk14 at February 3, 2009 12:11 PM

Hey Asshead...you conveniently missed this one...

Feb. 3 (Bloomberg) -- More Americans signed contracts to buy
previously owned homes in December for the first time in four months, signaling slumping prices may be boosting demand.

Contracts Dave, Contracts! Not Home sells you Dumbass!

The index of pending home resales climbed 6.3 percent to 87.7, the first increase since August, from a revised 82.5 in November, the National Association of Realtors said in a report today in Washington.

National Association of Realtors is a propaganda arm of the Mutant Asset Bubble!

Here Dave suck this one down..

Realtors' Former Top Economist Says Don't Blame the Messenger
Mr. Lereah Called 'Soft Landing' in 2006; It Didn't Come, and Now His Portfolio Stinks

http://online.wsj.com/article/SB123152099299568447.html

Mr. Lereah continued to make rosy statements amid growing signs of a housing downturn -- like this declaration in January 2007: "It appears we have established a bottom." A few months later, NAR announced that existing-home sales fell 2.6% in April from a month earlier and 10.7% from a year earlier.

Dave you have been PWNED!!!!!!!!!!

The What

Someday this war is gonna end...

Posted by: Return of The What at February 3, 2009 12:13 PM

> "Have we lost all members of Team Bear today???"

Team Bear is hibernating, lulled to sleep by the tedious drone of denial emanating from Team Bull.

Posted by: SnarkSlope at February 3, 2009 12:14 PM

BK14, It's still good news.

Once foreclosures and other distressed properties are bought, the inventory drops and supply and demand come more into balance. The reason prices are decreasing is in part because inventory in parts of the U.S. have skyrocketed.

This is how we get back on track. Not for skyrocketing price appreciation, but for a stabilization of the housing market.

The fact that these homes are being bought now is good news.

Posted by: 11217 at February 3, 2009 12:18 PM

In relation to the NYT article, the key phrase is "enticed by tumbling housing prices..."

NYC prices still have a ways to fall.

Posted by: bk14 at February 3, 2009 12:19 PM

Yes, they do have a ways to fall. I agree.

I think there is a happy medium here between what you all THINK Dave and I are trying to say and the What and BHO's assertion that no properties will ever sell again and that the end of the world is near.

The fact is, prices will drop, people will buy them, inventory will drop, then prices will go back up.

Happens every time.

Posted by: 11217 at February 3, 2009 12:23 PM

I suppose, but before we locate the happy medium, be clear what I'm saying: Wall Street is dead for ten years minimum; social services are going to be cut at a Draconian rate; taxes are going up; young people will not move to the city in droves; there will be prime-level distress sales; credit will remain scarce; and inflation is likely. Dave can come on here and name call as much as juveniley as he likes, but only eight months ago the same idiot bulls were claiming the economy was fine. And to be clear: prime Brooklyn RE is turning out to be a very lagging indicator, which makes sense, given what we know about the last round of bonuses. I know Dave is a macro genius, but even he understands that for someone to buy houses at these prices, they need to have the money to do so.

Posted by: Whuh at February 3, 2009 12:32 PM

11217 -

Amazing, simply amazing, on the deposit. We had suspicions that the escrow agent was monkeying around with ours, too, but after a month of stony silence from the escrow agent, we ratched up the pressure enough to get confirmation that the deposit was in place. Come to the next gathering and we'll swap stories. You buy me a pint and I'll tell you why we consulted with a handwriting analyst.

Posted by: slopefarm at February 3, 2009 12:32 PM

Slopefarm...funny this is...my attorney actually said to me...this isn't as rare as you might think!

Definitely would like to hear about this handwriting analysis!

A little suspicion goes a LONG way. I remember thinking for 3 days that the seller was in on it, MY attorney was in on it and thought the whole world was out to get me! Ha.

Posted by: 11217 at February 3, 2009 12:38 PM

Posted by the Whuh..."I know Dave is a macro genius, but even he understands that for someone to buy houses at these prices, they need to have the money to do so."

Posted here in this thread about these houses actually closing. They must have had the money to do so, ya think.

God, what a moron.

Posted by: daveinbedstuy at February 3, 2009 12:47 PM

Selection bias (e.g. Berkson's bias)[1] is a distortion of evidence or data that arises from the way that the data are collected. It is sometimes referred to as the selection effect. The term selection bias most often refers to the distortion of a statistical analysis, due to the method of collecting samples. If the selection bias is not taken into account then any conclusions drawn may be wrong.

Posted by: jingle mail at February 3, 2009 12:55 PM

Don't you just love it when an "intelllectual wannabe" does a cut and paste and then can't actually show relevance or come to a conclusion?

Posted by: daveinbedstuy at February 3, 2009 12:58 PM

don't you just love it when an "intellectual asshat" can't even read the whole passage he is responding to?

conclusion: "any conclusions drawn may be wrong"

Posted by: jingle mail at February 3, 2009 1:03 PM

And that is relevant to this discussion how???????

The data collected on these sales is factual. Your head is jingling with noise that seems to distort your perception of what reality actually is.

Are you related to the Whuh???

Posted by: daveinbedstuy at February 3, 2009 1:10 PM

You have one deal struck in a closed community for at a price point outside the scope of most ordinary housing stock and the rest are deals struck before the current environment.

Look, none of this points to prices going down, but none of it is evidence of prices being maintained either.
This market is playing out almost exactly as conventional wisdom of a severe market turndown would predict it would. Slowing of actual deals, building of inventory, RE markets are 9 months behind the stock market, actual sales prices being the most severe of lagging indicator, etc.

It definitely doesn't mean that the downturn is a fait accompli. Maybe the bulls are right that there are factors in Brooklyn which make it less susceptible to the economic environment. But the arguing that data points are evidence that the slowdown isn't happening when they also fit the model for the most simplistic downturn environments is pretty naive.

Posted by: Ledbury at February 3, 2009 1:13 PM

DIBs, for someone who claims to have worked at a hedge fund, your grasp of numbers is a bit concerning. I hope you weren't responsible for any returns. Yikes.

Posted by: jingle mail at February 3, 2009 1:14 PM

Is the Whuh...the What?
am confused

Posted by: gemini10 at February 3, 2009 1:17 PM

You can't argue with intellectually challenged delusional morons like dibs, just too ignorant. He cuts and pastes a few lines from mainstream stories and makes a fool of himself. ie. EVERYBODY with half a brain knows that the #s are a temporary foreclosure driven blip concentrated in the midwest. Sales are down in the west and northeast. Furthermore, most with half a brain know that nyc downfall is lagging. I mean, this guy speculated in the ghetto and still believes prices are going up! LOL. Others like 11217 are just simply pseudointellectuals with petty holdings. At this point, if you're still cheerleading real estate in nyc, seriously, YOU'RE A F*CKN MORON.

Posted by: cornerbodega at February 3, 2009 1:19 PM

http://ny.therealdeal.com/articles/whats-next-for-brooklyn-prices-2

Posted by: 11217 at February 3, 2009 1:20 PM

I hope Panic Dave is no more than comic relief to anyone on here... the poor man knows he's screwed. It's one thing to hit a recession/depression like this, and own on Fifth Avenue, or UWS, or maybe even Heights/Slope. But Bed Stuy --that's gonna leave a mark!

Dave, let me go over it again slowly --people who would previously have bought their pompous digs in WV now are taking the last of their bonus gravy and spending it out here. Therefore, you will crow and crow and crow, as the latest sales look to you like signs of a recovery, or at least a soft landing for Brooklyn RE. You will turn out to be wrong; because as anyone with a fully evolved cerebrum can tell you, this is only the beginning of something very, very frightening.

Posted by: Whuh at February 3, 2009 1:22 PM

Ledbury...I think the vast majority of us Asshats in Team Bull do actually believe in a downturn. Many of us have experience in these markets in different cycles, different parts of the country as well.

I believe that prices will still come down some here in Brooklyn. I do hold that townhouses (brownstone/brick/limestone but not Fedders) will come down less than condos and coops though. Many condo and coop owners don't want to take the leap into home ownership and all the work that takes. I also stand by my ongoing prediction (or rant) that Brooklyn brownstones are increasingly appealing to the many thousands of condo owners in Manhattan seeking a different lifestyle. These peopl can suffer further 20% price cuts and still hava lot of cash left over after buying a brownstone.

I don't think there's one member of Team Bull that believes that prices are rising. I think we all see a moderate decline in prices but nothing that will lead to a collapse.

Team bear on the other hand almost universally think prices need to come down 50% or more. Who are the ones that are thinking more rationally based on what is going on and who are the ones pulling wild ass doom and gloom predictions out of their backsides.

Posted by: daveinbedstuy at February 3, 2009 1:22 PM

I can't believe I'm replying to you, Corndogbodega, but as ridiculous as it is to be cheerleading real estate in NYC, it's equally ridiculous to say it's dead for good as you and the What and BHO seem to be implying.

Most people on this blog bought for the long term, so your theories of everyone in a panic seem unfounded, not to mention irrelevant.

I wonder if my old landlord who bought his Upper West Side townhouse in 1992 for 450K also thought it was ridiculous when he sold it 16 years later for almost 8 million dollars.

Posted by: 11217 at February 3, 2009 1:24 PM

corneholedinthebodega....welcome. I knew your input would be valuable.

Hey you dumb f&%cks...I'm talking about THESE HOUSES....HERE IN BROOKLYN...THAT WE"RE TALKING ABOUT IN THIS THREAD.

Like I said Ledbury....what do these Team Bear idiots sound like?????

Posted by: daveinbedstuy at February 3, 2009 1:27 PM

Go team BULL Carroll Gardens with a touchdown.

Posted by: sebb at February 3, 2009 1:28 PM

11217....its clear that cornholedinthebodega and Whuh have no clue about homownership. I hope they know a bit more about a 401k because when they are retired and still renting, they better find a rent stabilised apartment because they aren't going to be living on their social security.

Posted by: daveinbedstuy at February 3, 2009 1:31 PM

i think it's still too early to tell the impact of the economy on the housing prices in BK. these all went into contract in 08/08. things have drastically changed since then. more banks have failed. i think the next 6 months will tell a sader story.

Posted by: bkny at February 3, 2009 1:34 PM

I think the only Sader story is going to be told down in that new Mansion in Manhattan Beach.

;-)

Posted by: 11217 at February 3, 2009 1:38 PM

It's so true Dibs
I mean we are at least trying to remain calm in this current economic downturn. Yes, we all know house prices have fallen and might still fall a bit, but really none of us are running out of our homes banging pots and pans shouting the sky is falling, the sky is falling unlike many members on Team Bear(not all, but many)
BHO,The What, The Whuh, cornerbodega are any of you homeowners and if so where?

Posted by: gemini10 at February 3, 2009 1:39 PM

Dave, one thing you don't have to worry about, even as the toilet waters of deflation swirl around your head, is how well I'm living.

Posted by: Whuh at February 3, 2009 1:41 PM

Re President St sale...i urge readers to check out opinions expressed way back in June '08 and how off the mark they were/are....i live on 2nd pl between Clinton and Henry...been here 12 yrs...i'm not wildly bullish real estate BUT compared to 12 yrs ago there r far FEWER places on mkt now....i believe local mkt so far has been identical to nat'l mkt, ie, CG houses r currently 25-30% off their highs of Spring '06-just like national mkt however there r not very many places on mkt....if u want to spend $1.5 to $2.5 on your primary residence you can look at literally tens of thousands of 2 bedrooms in Manhattan that come with monthly maintenance of $1,000-3,000, thousands of 3,000 sq ft homes in Fairfield /Westchester Co vs maybe 20-25 houses in rectangle betweeen Atlantic Ave and Huntington; between Smith and BQE...AND there's ZERO noise from BQE..we get numb nuts occasionally whaling on their horns on Clinton between 8:00-9:00 am Mon-Fri..that's all

Posted by: yanks77 at February 3, 2009 1:41 PM

"the toilet water of deflation" that's a great one Whuh.

And when do you think we will move across from deflation to inflation??? Becasue without you having any clue in that regard, you can have no clue as to the actual movement of property prices over the next 2-5 years.

Answer that one specific question.

Posted by: daveinbedstuy at February 3, 2009 1:46 PM

That is a good question; if I knew the answer, I could make a levered bet on the long bond crash, and retire a rich man. I don't know, you don't know, no one knows. I think we get a much bigger glimpse into the deflation abyss, in the next six to nine months, in response to which the guv goes all in --like, fed balance sheet expansion like you can't believe --at which point we might get somewhat stable prices for a while. Rampant inflation is two-three years away, I believe. These are all armchair guesses.

Posted by: Whuh at February 3, 2009 1:55 PM

"Dave, one thing you don't have to worry about, even as the toilet waters of deflation swirl around your head, is how well I'm living"

Dave I think you better leave The Whuh alone. He just PNWED the living day lights out of you and you had no comeback. It's scary to think you work for a Hedge Fund Dave, no wonder why we are in this mess. I wished I knew where you worked>

The funny thing is Bear Mafia that it's going to take a long time before the Retards "get it".

Ford posts 40.2% drop in January U.S. sales

SAN FRANCISCO (MarketWatch) -- Ford Motor Co. (F:1.84, -0.04, -2.1%) on Tuesday reported a 40.2% decline in January U.S. sales to 93,506 cars and trucks, down from 156,391 vehicles a year earlier. Ford, Lincoln and Mercury car sales dropped 35.1% to 28,707. Total trucks fell 40.5% to 61,889 with the flagship F-Series pickup down 38.6%. Ford blamed a 65% drop in fleet sales for the retreat while saying its retail business has stabilized in the past four months. (Ford revised its release to included Volvo sales in January 2009).

We are in a DEPRESSION!!!! 2009 is the beginning of the worst economic times in history.

The What (Godfather of Bear mafia)

Someday this war is gonna end..

Posted by: Return of The What at February 3, 2009 1:58 PM

Less car sales means more people will eventually gravitate to cities, live off public transportation thus further uphold prices in the best cities in the U.S.

I'm just being silly now.

Posted by: 11217 at February 3, 2009 2:05 PM

Perhaps fewer car sales just means people drive the cars they already have?

Posted by: SnarkSlope at February 3, 2009 2:11 PM

No, we don't know either but we've been buying TBT for about three weeks now. There doesn't seem to be any indication that rates will go any lower (they can't on the short end). But, a good way to figure where energy costs are going is by a simple look at the oil chart. We'll still have year-over-year down numbers until late this year. Expectations (the long Treasury rate market) will move higher going into that. Food prices will definitely be up year-over-year by later this year.

Posted by: daveinbedstuy at February 3, 2009 2:15 PM

Though the price of these few houses didn't slump, aren't overall sales way down? I think people who want to sell are holding back and you probably will see more converted to rentals in the near future. You are so lucky in Brooklyn to have such low taxes. Does anyone know what's happening to the warehouse market in Brooklyn? Is it falling?

Posted by: Iknow at February 3, 2009 2:18 PM

That too, Snark.

I always found it appalling in my hellish upbringing in the burbs that all our neighbors had 3 BRAND new cars in the driveway every 2-3 years. We had a beat up antique, a volkswagon van and a 10 year old toyota. Now years later, I can appreciate my parents desire to live within their means and use things till their no longer viable.

Horrible news for Ford means better news for the gluttonous U.S. of A.

Posted by: 11217 at February 3, 2009 2:19 PM

till *they're* no longer viable.

Posted by: 11217 at February 3, 2009 2:20 PM

People that buy Ford cars are idiots.

Posted by: daveinbedstuy at February 3, 2009 2:21 PM

Ford Trucks are great though. However that truck ad during the Superbowl where it was climbing that metal structure with the fire was the most assinine thing I've ever seen.

Posted by: daveinbedstuy at February 3, 2009 2:26 PM

FORD:
Found on Road Dead!

Posted by: gemini10 at February 3, 2009 2:35 PM

FORD:

Fix Or Repair Daily.

The What

Someday this war is gonna end...

Posted by: Return of The What at February 3, 2009 2:43 PM

Thw What is old school...he got it right.

Posted by: daveinbedstuy at February 3, 2009 2:46 PM

My second hand Volvo has 145,000 on the clock and shows no signs of stopping. I think it was really a Volvo when it was made and not a Ford.

I can't understand why anyone would buy a new car. They lose 25% of their value the instant you drive them off the car dealers' lot.

Posted by: dittoburg at February 3, 2009 2:48 PM

To the What & other professional pessimists: your pose [and I do mean pose] of impartiality doesn't hold up too well when you tout one article while dismissing another. And in neither case do you bring any facts/insight about the sources, quality of reporting, etc. of any of the material you cut & paste.

Posted by: parkedslope at February 3, 2009 2:51 PM

Parkedslope,

You mean like cutting and pasting an article suggesting that lower sales at Ford means we are in another Depression, and then 10 minutes later saying Ford, Fix or Repair Daily.

Yeah, I see your point.

Posted by: 11217 at February 3, 2009 3:00 PM

All you naysayers suck on this.

Posted by: billyboomer at February 3, 2009 3:05 PM

bb, please provide tweezers and a magnifying glass, thank you.

Posted by: SnarkSlope at February 3, 2009 3:10 PM

"CG houses r currently 25-30% off their highs of Spring '06-just like national mkt " -
what are crock of b.s. Buyers would be very happy if only true.
Show some evidence instead of talking nonsense. Prices here didn't even peak until end of 2007.

Posted by: Petebklyn at February 3, 2009 3:12 PM

Amazing that a few can be so oblivious to whats going on in nyc. Truly astounding. Like I've said, some require a brick to the head to wake up. Give these idiots about 4-6 more months to fully admit what 98% of new yorkers already know whats coming. I think these guys, dibs/sebb et al are just f*cked up psychologically. They refuse to accept the inevitable. The biggest losers are the ones who cling onto denial esp in the face of certainty. People like dibs/11217/sebb obviously have vested interests in property valuation. Since thats the case, IT SUCKS TO BE YOU, BAGHOLDERS!

Posted by: cornerbodega at February 3, 2009 5:42 PM

so Pete u r saying home prices in CG have fallen less than 25-30% peak to right now or more than 25-30%?? if u r saying CG has fallen less than 25-30% from its peak(whatever month u wish to choose) u r making my point...until i saw a few recent sales(including President St) i believed mkt was off 25-30% from highs(looking at my own house/getting an appraisal and attending 3-4 open houses 2 weeks ago where asking prices have fallen roughly 25% from original offers) i believe going forward that CG/CH houses will be much more resilient than Manhattan/nat'l avg simply on account of limited supply

Posted by: yanks77 at February 3, 2009 5:45 PM

"To the What & other professional pessimists: your pose [and I do mean pose] of impartiality doesn't hold up too well when you tout one article while dismissing another. And in neither case do you bring any facts/insight about the sources, quality of reporting, etc. of any of the material you cut & paste."

Eh Asshead, most of the "stories" are coming in from mainstream media (Bloomberg, WSJ, NY Times, etc.). What do you mean by " And in neither case do you bring any facts/insight about the sources, quality of reporting, etc. of any of the material you cut & paste".

Why don't you parse your own information and come up with you own conclusions instead of jumping into the "Metoo Asshat Group"

"Amazing that a few can be so oblivious to whats going on in nyc. Truly astounding. Like I've said, some require a brick to the head to wake up."

Cornerbodega I invite you to join the Bear Mafia! Just Chill 2009 is going to be very painful for the Assheads....

" think these guys, dibs/sebb et al are just f*cked up psychologically."

No they are retards...

The What (Obama will save us, just you wait and see..)

Someday these retards are gonna end...

Posted by: Return of The What at February 3, 2009 7:45 PM

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