A Couple More Widget Comps
A couple more properties that have received the widget treatment on Brownstoner have sold and both sales prices, not surprisingly, are well in excess of the widget average. As we know by know the widget average, almost by definition, underprices the ultimate sales price since all it takes is one buyer, not a consensus, to…
A couple more properties that have received the widget treatment on Brownstoner have sold and both sales prices, not surprisingly, are well in excess of the widget average. As we know by know the widget average, almost by definition, underprices the ultimate sales price since all it takes is one buyer, not a consensus, to get a deal done. In the case of Apartment #2 at 56 Garden Place, the widget predicted $645,093 and the two-bedroom ended up selling for $750,000; this difference of 14% is about what we’ve come to expect ye olde widget. Over at Apartment 5E at 125 Eastern Parkway, the widget came in at $314,911, or only 9% less than the actual selling price of $345,000. Surprised by either of these?
Co-op of the Day: 56 Garden Place, #2 [Brownstoner]
56 Garden Place, #2 [Brown Harris Stevens] GMAP P*Shark
Co-op of the Day: 125 Eastern Parkway, #5E [Brownstoner]
125 Eastern Parkway, #5E [Corcoran] GMAP P*Shark
I’d like to see the pricing widget applied to some of the new condos, like Toren.
I don’t usually claim $3 million houses should sell for $500,000 or anything like that, but even I am very surprised at the price of the place with the deck. It’s a classic one bed pretending to be a two (or two pretending to be a three) and the layout was deeply wacky as well. Well, to each his own.
“Nomi, Minard, please come to Last Exit on Atlantic next Thursday and join us for drinks. I think you both live nearby.” (CGar)
Hey, I left before you posted this. I don’t know, worlds colliding and all . . . but stranger things have happened. Thanks for the invitation.
Legion, I did exactly that for Jackson Heights and at one point prices were increasing 10 percent every three months. But I didn’t bother with the asking price — what relevance does that have? — and I didn’t use a formula.
CGar,
…can’t a mischief maker have some fun now and then? 😉
I bet some people think you actually have a clue what you’re talking about, Legion!!
I have nothing agaisnt 11217 in fact I have known several people with similar obsessive/compulsive disorders. It usually starts to fade a bit as they pass their teen years with the right counseling. He is probably a nice person but unfortunately a most unpleasant, self-righteous, and repetitive poster.
Posted by: Minard Lafever at January 15, 2010 2:44 PM
At least 11217 has posted some comments relative to the subject of the thread. You, on the other hand, have only posted about 11217.
I think we know who the obsessed one is!!!!
is the market going up, down or sidewises mr calculusanswersall?
have a good long weekend.
im taking monday off so shill and brown won’t be able to ban me for three more months.
…….uuhhh, what exactly is all the fuss about?
Jesus Christ! Just take the asking price graph and the actual sales price graph for a given closed set, describe their respective curves as binomial equations. Take the first derivatave for the speed of market movement, the second derivative for the acceleration, positive or negative. Compare the two curves and extract the mean variation. Apply(multiply) the mean variation to the asking sales price curve to obtain the actual market value price of a given property along the aforementioned asking price curve and examine the acceleration for a characterization of the overall market (+up or -down).
…next question.