20 Clifton Place Sells, Kicks Widget's Ass
The widget underprices again! We’ve gotten used to the pricing widget being off by 10 to 15 percent, but in the case of 20 Clifton Place, a three-family in Clinton Hill that was on the market last spring for $899,000, it was off by 20 percent. The average reader prediction was for a selling price…
The widget underprices again! We’ve gotten used to the pricing widget being off by 10 to 15 percent, but in the case of 20 Clifton Place, a three-family in Clinton Hill that was on the market last spring for $899,000, it was off by 20 percent. The average reader prediction was for a selling price of $679,708 and the house closed on September 24 for $850,000. Quite a difference! Meanwhile next door, 22 Clifton Place, which never was a House of the Day, also closed last month for $1,200,000, quite a bit below what it was asking when it was an Open House Pick back in 2007 and in 2008.
House of the Day: 20 Clifton Place [Brownstoner] GMAP
Yes, it seems a crazy nutjob is purchasing nearly every available home in Brooklyn. Widget x 1.15 or better is batting about .950 on reported closings so far. Need a more systemic explanation than buyer was a crazy nutjob.
bkhabitant — you’re exactly right about the widget (average) vs. selling price (highest bid).
Basically it’s the difference between the nutjob that pays the absurd price and the slightly less crazy nutjobs that “underestimate” the price tag… and jesus save us if these are underestimates of the property’s “value”!!
Hey BHO,
I think fsrg did a great job the other day saying why Bill Thompson shouldn’t be mayor, but how’s this for you? Is THIS who you want running the largest city in the country???!!
If so, you are even more crazy than I thought…
He can’t even manage a campaign, much less a city.
http://www.nytimes.com/2009/10/23/nyregion/23thompson.html?_r=1&ref=nyregion
not that you can trust the comments, bho, but it seems general consensus was major work required (500K) and that a renovated house on this block sells for 1.3/1.4. 26 (slightly bigger) sold for 1.375 in apr 07.
looks like you’ll have to revert to the usual refrains: a) SB or b) just wait til next year.
curious: How does the widget compare to Zillow zEstimate?
Hey Whuh, where’s your sorry ass been??? I guess you still know everything.
BHO, even before econ tanked, recall ppties of that conditions near there were selling around 900k-925k
All,
What was the peak comp for this property?
***Bill Thompson for Mayor***
Do me one favor, Team Bull. When you go to sell in five years and can’t be made whole, make sure to say “But it beat the widget!”