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
POLL:
Is antidope
A. a realtor (as previous posts suggest)
B. a developer
C. a homeowner (who bought before the bubble burst)
D. A + C
The OT is a cult, isn’t it. You’ll deny that, of course, which I will take as confirmation that I am right.
Not higher real estate prices, Brokedeveloper. Just accurate ones.
Slopefarm said it all much better than I have.
“it makes me feel better to highlight the truth.”
11217: fighting for truth, justice and higher real estate prices. You are a modern day Martin Luther.
I like that slope
**Brownstones Ten percent Above Widget**
That’s right. I am, in fact, completely rational at all times. Just ask my husband.
Posted by: Nomi at January 15, 2010 11:44 AM
We can fix that if you spend some time in the OT!!!
Agree, DIBS, as if appraisal means anything other than an estimate of the price at which a willing buyer will meet a willing seller. I particularly love how every single buyer is a fool because the widget is more accurate than the market. That’s an absurd logical universe — a bell curve without the bell, only outliers. If the market is populated by fools who are consistently willing to “overpay” then that is the market and you have to appraise accordingly. And no, BHO, the widget will not become accurate if, as you predict, we reach half off peak. Brownstoners inaccurately trashed HOTD prices pre-widget when the market was rising and peaking. It’s endemic to the site in any market.
BTPAW (brownstones ten percent above widget)
“I know Nomi, but it makes me feel better to highlight the truth. I actually think you are probably one of the most rational posters here so I’ll take a cue from you and leave it. :)” (11217)
That’s right. I am, in fact, completely rational at all times. Just ask my husband.
Think, for example, about gold in the early eighties –you had a bubble that brought in the general public at peak prices; you had a subsiding of the frenzy; then you had a nearly twenty year grind down to the bottom. Had there been blogging back then, no doubt every day for at least two or three years, maybe more, some ninny like Dave would come on and heckle those silly gold bears for insisting his precious metal would one day sell for less than half off.
Posted by: Whuh at January 15, 2010 11:32 AM
Screw you. You seem to know nothing really about whatever you post about.