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August 28, 2009

Open House Picks: Six Months Later

ohp-6months-082809.jpg
Comment: No green shoots here.
Open House Picks 2/27/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]




Posted by Brownstoner at 12:36 PM | Comments (9)
Categories: Open Houses, Six Months Later

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Comments

Windsor Terrace -20% off ask, like NY Case-Shiller off its peak. Asks not as accurate as comps but not totally irrelevant either. They tend to be somewhat consistent with pricing within 10%.

The other listings, shadow or not, now move down to the next set of Case-Shiller results due October (2 month lag).

***Bid half off peak comps***

Posted by: Brownstones Half Off at August 28, 2009 12:50 PM

The meatloaf refrain again:

Don't be sad...cuz one out of four aiiiin't bad".

Unless you consider the one going for 20+% off latest ask...wonder what it originally listed for.

Posted by: MoneyForNothing at August 28, 2009 1:32 PM

Hhm where did everybody go?
This is almost a standstill here and the lack of interest just underscores how dismal the RE market is now. The sky is not falling but it sure is very dark. Lord help us...

Posted by: pierre de taille at August 28, 2009 4:01 PM

> Hhm where did everybody go?

Everybody's on vacation. My office is a ghost town.

Posted by: DitmasSnark at August 28, 2009 4:40 PM

Ditmas we are working like crazy these days. Matter of fact working tonight as well... but what do you think is going on with this snapshot of sales here? Scary even to a bear!

Posted by: pierre de taille at August 28, 2009 5:32 PM

pdt - This just further strengthens my conviction that now is the time to sit and wait.

Posted by: DitmasSnark at August 28, 2009 6:06 PM


Of course it's the time to wait. There are many patient folks out there with lots of cash, excellent credit, and big assets who are happy to wait for the market to fall another 40 or 50% before they buy. Everybody isn't a deadbeat jobless spendthrift.

I'm talking about folks who never believed in the great real estate bubble in the first place, folks who've waited patiently on the sidelines for years because it's been much cheaper to rent than to buy, folks who understand how to value real estate and refuse to "believe the hype" and pay sky high sucker prices.

Anybody who pays anywhere near ask for any of these properties is an idiot -- plain and simple.

Posted by: IronBalls at August 29, 2009 12:03 AM

I-balls, you've described me perfectly (although I imagine your idea of 'big assets' is bigger than mine - I'm a cheap date like that).

If prices don't come to me, I'll be happy to continue renting. The insanity is just beginning to wane.

Posted by: JKB at August 29, 2009 12:29 AM


Amen

Posted by: IronBalls at August 29, 2009 8:21 PM

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