House of the Day: 211 Berkeley Place
When 213 Berkeley Place was a House of the Day last year, we predicted it would sell for around 10 percent off its asking price of $2,475,000 and sure enough it closed for $2,200,000 in August 2009. Now the house next door at 211 Berkeley Place has hit the market at the remarkably similar price…
When 213 Berkeley Place was a House of the Day last year, we predicted it would sell for around 10 percent off its asking price of $2,475,000 and sure enough it closed for $2,200,000 in August 2009. Now the house next door at 211 Berkeley Place has hit the market at the remarkably similar price of $2,199,000. It’s also a beauty, with beaucoup architectural detail, but it’s in estate condition and will undoubtedly need some dough to freshen it up. As a result, the asking price may not be as much of a lay-up as one might think based on the comp alone.
211 Berkeley Place [Prudential Real Estate] GMAP P*Shark
So by BHO’s logic if I randomly write in the comments that this house is worth $3.5mm and it sells for $2.2mm, that would be almost 60% off a ‘peak comp’.
Tybur6, it is a crappy listing but if agent sells it at decent price, agent did the job.
(how many)
No… that’s not right. If it sells AND she presented it in the best way she could, you can be confident it sold for the highest price she could muster.
Just selling is not an accomplishment.
A crappy listing (as with the presentation of *any* product or service) creates an impression. This impression sticks with you in some way no matter how much additional data points are added later. If ALL impressions are positive ones, that would increase the likelihood of a potential buyer being more flexible in the price… Will the buyer be more willing to raise their bid if they were interested/intrigued/excited the *whole* time? Or if they had to be convinced along the way? (Based on this listing, I bet a lot of the buyers will start off like this… “Well, honey, if we happen to over there I guess it wouldn’t hurt to take a look.”)
Anyone can *just sell* a Jaguar XKR, but it takes a lot of coordinated efforts to sell one for $100,000.
Furthermore, I will repeat, this crappy listing reflects on PRUDENTIAL more than this individual broker. I fault the management team for *allowing* her to post this as is.
Either way it doesn’t matter, BHO. You remain homeless and will continue to do so without a set of balls to pull the trigger on a house in the face of rising prices.
“Your post, dumbass. i didn’t put these words in your mouth.”
dummyinbedstuy – You challenged my math on -20% down from peak in Park Slope, not the snippet you just quoted. 2.475 in 2009 used to be 2.8 pre-Lehman. Don’t be an idiot. I know it’s hard.
I know, 11217. 2.8 is for 113 Berkeley, not today’s HOTD. I’ve got you on record implying 113 would have fetched that much at the peak. But it got comped down like the rest of the market. Neg twenty. Today’s HOTD obviously peaked at 2.8 minus reno. It’ll go for neg twenty less.
Half off Todt Hill! (But an offer you can’t refuse at closing!).
***Bid half off peak comps***
“In any case, houses of this nature are sought after in this area because there are few on the market. ”
I’ve been hearing a lot about foreclosures, short sales and shadow inventory lately!!!!! Surely all of that must take its toll on any brownstone sales. no???
What am I missing????
BHO????
We’ll see if it sells, Ty.
That will be your answer.
And yes, I realize you don’t work on commission, but criticizing someone you don’t know anything about (for all we know the place looks like a dump after someone’s been living there for decades and getting decent pictures proves difficult) seems a little assuming.
In any case, houses of this nature are sought after in this area because there are few on the market. Especially one like this with good bones where the owner can come and do what they want while still having a great old house.
Like I said, if it sells she did her job. If not, I guess you were right.
Do you honestly think this listing reflects a $2.2 million listing (and the accompanying commission)?
Crappy photos, lame description, almost no details, no floorplan, etc. etc.