Elliman: Brownstones Kick Ass in Q1
Unlike the commercial numbers we saw yesterday, the residential real estate market in Brooklyn perked up in the first quarter of 2010, according to a report released today by Miller Samuel for Douglas Elliman. “The modest decline of inventory and a return to a higher level of sales activity helped stabilize prices across most markets,”…
Unlike the commercial numbers we saw yesterday, the residential real estate market in Brooklyn perked up in the first quarter of 2010, according to a report released today by Miller Samuel for Douglas Elliman. “The modest decline of inventory and a return to a higher level of sales activity helped stabilize prices across most markets,” said the report. “These trends combined with the sharp decline in days on market and listing discount suggests that the consumer is bypassing properties that are not priced close to market levels. The median and average sales prices across all property types ticked up 4.2% and 7.5% from the fourth quarter, but both were down slightly from the first quarter of 2009. The number of sales increased year-over-year from 1,186 to 1,861 and the days on market decreased from 142 to 114. House sales in Brownstone Brooklyn saw the most price improvement, with the median sales price rising 15% from $1,087,500 to $1,250,000. Bring it!
founder, unless my recent fringe comments has gotten me booted from team reasonable, that’s in line with why I’m on your team.
m4l–that is far too reasonable a position. Shame on you 😉
all I care is the banks in the area to make tons of money cause them giving out massive bonuses helps local econ – ie too late to bitch about the bailout, etc. so might as well wish them well and may they spend their massive profits to help local econ
Also keep an eye on AAPL earns next week, should come in around $2.70 EPS to blow estimates out of the water. Great for AAPL and very good for the sector along with the Intel numbers.
really, C is going to be a 230-280 billion mkt cap? if true, can I call “bubble” status on it?
daveinbedstuy : I agree with the price. I never played options.
I think when ther govt sells Citi will buy back shares
“Nothing ever goes up in a straight line”
Nothing ever goes down in a straight line, either.
Hmm, now what else could we apply this too? ; )
sebb, earnings are out on Monday, at which point the government can begin to unload the 7.69B shares. Their intent is to be 8-10% of the average daily volume.
I’m holding half my calls until the earnings are out and then i will see. I can always buy them back if the stock falls on the earnings news…”Buy on the hype, sell on the news.”
I don’t want to own the stock, just punt the options. yes, in the next year or so it will be worth $8-10 a share. Nothing ever goes up in a straight line
Just as I predicted. Prime areas down 20 percent, subprime 40.
Guess we could still have a double dip, but chances looking lower all the time. Good idea to signal we plan to rein in the debt regardless of whether it’s realistic. What do you think are the chances another major bank such as Citibank could fail and need a bailout, and what do you think the timing could be?