Dec 31 Closing Date
Why would a seller insist that the sale must close by December 31st in order for them to honor the closing cost concessions that they are offering? Aside from seeming virtually impossible given that it’s already December 31st, what would motivate them to make such a long-shot demand and risk losing the sale during the…
Why would a seller insist that the sale must close by December 31st in order for them to honor the closing cost concessions that they are offering? Aside from seeming virtually impossible given that it’s already December 31st, what would motivate them to make such a long-shot demand and risk losing the sale during the slowest time of the year?
sept reading was 174.38 flat to aug 174.89 and above march. the way i count that’s basically a seven month flat line. we are just inexorably picking off the *bad* months. oct 08 to mar 09 fell from 189 to 173, we are not going back up to those levels, however…your very own simplistic statistical metric will show YOY growth in feb/mar 10.
unless we fall down again. your dubai tricked looked to almost’ve worked. but not quite. need something new. maybe cds market implosion?
at any rate, i don’t agree with your prognostics nor your silly simplistic metrics, although i don’t necessarily disagree with your sentiment that we need to revert to the mean — i just am not sure we know what the mean level is, and i can’t wait to see the numbers at the end of 1Q10 when you will have lost your shirt as well as your pants and probably dibs will lose his mind at the thought of you sitting nekid in front of the screen.
Oh, my bad. You’re were referring to MOM, not YOY. But, like I said, MOM is down. I’m looking at the data…I’m looking at the data…It’s dropping again…it’s dropping again. It hasn’t stopped…It hasn’t stopped. I’m already getting my droppage (drawers too – keep kissin’ but no homo).
The reGovery is a fugazi.
***Bid half off peak comps***
look at the data, chef. if c/s stays flat we’ll be positive in feb, so for you to survive you need more droppage, like what’s happened to your drawers. iow, the ny market has already stopped falling…look at the data…look at the data you alway point to.
…the metric means EVERYTHING. Index up +200% since last bottom. Brooklyn up (condos, coops AND brownstones) +200%. Relevent on the way up, relevent on the way down.
NYC workers participate in the whole tri-state market. Indirectly but effectively, McMansions compete with brownstones on some level. What other explanation can you offer of why NYC proper’s performance is on par with the metro index?
***Bid half off peak comps***
“NY Case-Shiller will turn positive by Feb 2010.”
Kids! Do not try this at home!
It’s headed back down, ‘dope, not up. Even if, HYPOTHETICALLY SPEAKING, the worst was behind us, it took more than two years for the index to get where it is now since the last YOY of zero, Dec 06/Jan 07. HTF would it hit Feb ’10???!!!
You’re right about Pants Half Off though. Kiss my ass!
***Bid half off peak comps***
but…the seller’s option to sell to someone else this year doesn’t exist, either. if you want to play hardball, the seller’s only option is to spend more time next year trying to get a better price. only you can best judge if your price is a steal and therefore likely to be beaten by a third bidder. i don’t think you have to worry about the market price bouncing back up.
NY Case-Shiller will turn positive by Feb 2010. March at the latest. Not that that metric means anything, but it will be used to beat the cr$p out of Pants Half Off. 😉
I’d assume that the seller has some signficant capital losses for this year and wants to be able to offset the capital gains from the house with those losses.
crystal ball = NY Case-Shiller Index. Bottom = YOY turns positive. Full benefit for all.
***Bid half off peak comps***
BHO, makes apoint but isn’t wholly correct. Don’t feel pressured into buying something especially without the appropriate due diligence.
That said, BHO, many people with the means buy a place because they have fallen in love with it and that’s what they want. Unlike you, they can’t time the market perfectly and don’t have the full benefit of crystal balls, er I mean, ball.