Bearish Brownstoners Miss Mark on 2nd Street Sale
So far we have precious few data points on the predictive powers of the pricing widget. For a while, the only HOTD or COTD to sell was 316 Cumberland Street, which sold for $2,250,000 in June, a shade less than the asking price of $2,295,000 but almost $360,000 more than widget voters predicted. And now…
So far we have precious few data points on the predictive powers of the pricing widget. For a while, the only HOTD or COTD to sell was 316 Cumberland Street, which sold for $2,250,000 in June, a shade less than the asking price of $2,295,000 but almost $360,000 more than widget voters predicted. And now our second data point shows an equally bearish disposition: 93 2nd Street, which generated a predicted selling price of $914,379, just closed for $1,086,312; in our defense, we said at the time that “We could see it getting pretty close to” the asking price of $1,125,000. Interesting, eh?
House of the Day: 93 2nd Street [Brownstoner]
Have you considered using the median instead of the mean in the appraisal widget? Given the distribution of prices in the widget for both houses, I think that’ll help remove some of the noise at the low end (and in better markets, it’ll remove some of the noise at the high end).
why dont you two put some $$$ where your mouth is. that’s what I did with Mr Joint
Maybe these people pay these “exhorbitant, outrageous, clearly stupid” prices because they have money and just want a home of their own and find ones that they like!!!!
Could it be as simple as that???
homeowners seem more bitter these days than renters actually. krislaz.
*rob*
antidope define well over?
“bitter renters”
They still exist?
This is basically a real estate porn website and I imagine that many of those who comment are bitter renters who A- have no idea what things cost and B- can’t afford these places anyway. Of course they are going to undervalue the properties listed. They want the prices to fall.
Hilariously, I would hazard to guess that those who own homes in these neighborhoods, if they bothered to log on and post, would probably over value the places. They have the most to loose from a perception of drastically falling property values.
That said, it’s fun to watch the reader appraisals. I always look forward to them.
BO- i’ll make a bet that the average of the first 10 homes comes in well over the widget price. There is a massive herd/stampede mentality on this board.
Not everyone is good with their $$$. The buyer is probably an easy-come-easy-go type person with his/her stack of $$$.