A Pair of ProHi Price Cuts
After last week’s carnage, you’d think there would be price reductions left and right, but it appears that more of a wait-and-see bunker mentality set in in the short run. Corcoran did take out the axe, though, on two of its townhouse listings in Prospect Heights. The four-story house at 368 Park Place (left), which…
After last week’s carnage, you’d think there would be price reductions left and right, but it appears that more of a wait-and-see bunker mentality set in in the short run. Corcoran did take out the axe, though, on two of its townhouse listings in Prospect Heights. The four-story house at 368 Park Place (left), which started out at $1,850,000 in April and had already been trimmed three times, got another $75,000 nudge down to $1,525,000. The professional-looking makeover at 210 Prospect Place (right) had its first cut since coming on the market in July at $2,495,000; it’s now testing the waters at $2,250,000.
368 Park Place [Corcoran] GMAP P*Shark
210 Prospect Place [Corcoran] GMAP P*Shark
House of the Day: 210 Prospect Place [Brownstoner]
z – actually, I’m still left cold by today’s prices. Maybe in a few more months I’ll warm to them. But I’m patient, and confident.
Thanks Miss Muffet. That is a very good description of what I was trying to describe when I used the word “greed”, but perhaps there is a better way to phrase it. We will see how it all plays out. Generally, I don’t see the market ever tanking too low (the real estate market in Brooklyn) I just don’t think people are going to see the kind of returns they used to get. At least not over the next few years.
I disagree – I hear your point about name-calling, but the fact is that some brokers/sellers are obstinate in the prices they seek, despite market evidence to the contrary and it would seem that obstinance can be related to greed. That is, they price high and then refuse to budge even when there are no bites. Really, they are only hurting themselves, instead of realizing that they would be better off, accepting, let’s say, 2million today (for a property they’re asking 2.5 for), instead of waiting for the market to deteriorate further when they will “only” be able to get 1.5 or so (for a property they purchased, say for 1million 8 years ago). In other words, they could be making 1million dollars in 8 short years, instead of 1.5, but no, that’s not enough for them, so they hold out and then find that they can make even less. These numbers are obviously random, but not implausible if you look at history and where we’re at right now.
also, will someone please hook miss muffett up with a brownstone already? she’s practically in heat.
the term “ProHi” hurts my feelings.
Thanks for clarifying i disagree. Agreed.
i’m not trying to hurt anyone’s feelings and you didn’t hurt mine. the wording of my post was sloppy, and i apologize for that – what i meant was that the daily insistence that sellers who are priced at what you view as too high are greedy and foolish is likely just as incorrect as the assumption that buyers who are looking for their best deal are greedy bottom-feeders. and it’s irritating to see it pushed here, every day, without any intelligent discussion of the actual homes they supposedly relate to, by people who probably consider themselves to be nice people and who very likely would never make these kind of statements if they were face-to-face with the owners.
Here here, ks8000.
Soul-less, vindictive, bottom feeders? Geez. Maybe simply first time buyers, hoping to finally break into to the game, because they couldn’t possibly afford to before now – how about that?
at least i am not calling anyone a soul-less vindictive bottom feeder. that’s just mean.