Last Week's Biggest Sales
1. MANHATTAN BEACH $3,250,000 290 Amherst Street GMAP (left) 5,058-sf, single-family house on an 11,440-sf lot, according to Property Shark. Entered into contract on 10/21/08; closed on 1/15/09; deed recorded on 1/30/09. 2. PARK SLOPE $2,400,000 383 3rd Street GMAP (right) Back in late May, when this 22-foot-wide, 3,200-sf, four-family brownstone was a House of…
1. MANHATTAN BEACH $3,250,000
290 Amherst Street GMAP (left)
5,058-sf, single-family house on an 11,440-sf lot, according to Property Shark. Entered into contract on 10/21/08; closed on 1/15/09; deed recorded on 1/30/09.
2. PARK SLOPE $2,400,000
383 3rd Street GMAP (right)
Back in late May, when this 22-foot-wide, 3,200-sf, four-family brownstone was a House of the Day, its sellers were looking for $2,695,000. The final asking was $2,499,990, according to StreetEasy. Entered into contract on 8/8/08; closed on 1/15/09; deed recorded on 1/26/09.
3. CARROLL GARDENS $2,225,000
192 President Street GMAP
A House of the Day last June, when it was asking $1,928,000. The listing for the 3,507-sf, four-family claimed it was “priced to sell,” and it seems it was. Entered into contract on 9/18/08; closed on 1/14/09; deed recorded on 1/28/09.
4. PROSPECT HEIGHTS $2,175,000
On Prospect Park/1 Grand Army Plaza, Unit 2J GMAP
2-bed, 2-bath, 2,000-sf unit in the Richard Meier-designed condo, according to StreetEasy. Entered into contract on 2/21/07; closed on 1/9/09; deed recorded on 1/27/09.
5. BROOKLYN HEIGHTS $1,732,328
One Brooklyn Bridge Park, Unit 1132 GMAP
Sale included a parking spot. Entered into contract on 8/13/07; closed on 1/19/09; deed recorded on 1/28/09.
Photos from Property Shark.
11217 –
Amazing, simply amazing, on the deposit. We had suspicions that the escrow agent was monkeying around with ours, too, but after a month of stony silence from the escrow agent, we ratched up the pressure enough to get confirmation that the deposit was in place. Come to the next gathering and we’ll swap stories. You buy me a pint and I’ll tell you why we consulted with a handwriting analyst.
I suppose, but before we locate the happy medium, be clear what I’m saying: Wall Street is dead for ten years minimum; social services are going to be cut at a Draconian rate; taxes are going up; young people will not move to the city in droves; there will be prime-level distress sales; credit will remain scarce; and inflation is likely. Dave can come on here and name call as much as juveniley as he likes, but only eight months ago the same idiot bulls were claiming the economy was fine. And to be clear: prime Brooklyn RE is turning out to be a very lagging indicator, which makes sense, given what we know about the last round of bonuses. I know Dave is a macro genius, but even he understands that for someone to buy houses at these prices, they need to have the money to do so.
Yes, they do have a ways to fall. I agree.
I think there is a happy medium here between what you all THINK Dave and I are trying to say and the What and BHO’s assertion that no properties will ever sell again and that the end of the world is near.
The fact is, prices will drop, people will buy them, inventory will drop, then prices will go back up.
Happens every time.
In relation to the NYT article, the key phrase is “enticed by tumbling housing prices…”
NYC prices still have a ways to fall.
BK14, It’s still good news.
Once foreclosures and other distressed properties are bought, the inventory drops and supply and demand come more into balance. The reason prices are decreasing is in part because inventory in parts of the U.S. have skyrocketed.
This is how we get back on track. Not for skyrocketing price appreciation, but for a stabilization of the housing market.
The fact that these homes are being bought now is good news.
> “Have we lost all members of Team Bear today???”
Team Bear is hibernating, lulled to sleep by the tedious drone of denial emanating from Team Bull.
Hey Asshead…you conveniently missed this one…
Feb. 3 (Bloomberg) — More Americans signed contracts to buy
previously owned homes in December for the first time in four months, signaling slumping prices may be boosting demand.
Contracts Dave, Contracts! Not Home sells you Dumbass!
The index of pending home resales climbed 6.3 percent to 87.7, the first increase since August, from a revised 82.5 in November, the National Association of Realtors said in a report today in Washington.
National Association of Realtors is a propaganda arm of the Mutant Asset Bubble!
Here Dave suck this one down..
Realtors’ Former Top Economist Says Don’t Blame the Messenger
Mr. Lereah Called ‘Soft Landing’ in 2006; It Didn’t Come, and Now His Portfolio Stinks
http://online.wsj.com/article/SB123152099299568447.html
Mr. Lereah continued to make rosy statements amid growing signs of a housing downturn — like this declaration in January 2007: “It appears we have established a bottom.” A few months later, NAR announced that existing-home sales fell 2.6% in April from a month earlier and 10.7% from a year earlier.
Dave you have been PWNED!!!!!!!!!!
The What
Someday this war is gonna end…
DIBS, the majority of those houses were foreclosures and short sales–distressed properties. Don’t be so selective.
The Manhattan Beach house is not a market indicator. It is part of a closed market that caters to members of a Jewish religious community. This house is actually right across the street from a religious center and within walking distance to synagogues. These houses always sell to members of the community.