Open House Picks: Six Months Later
Not sure how 401 Park Place went for over ask, but here’s the Acris documentation to prove it. Overall, some respectable results, don’t you think? Open House Picks 3/7/08 [Brownstoner]
Not sure how 401 Park Place went for over ask, but here’s the Acris documentation to prove it. Overall, some respectable results, don’t you think?
Open House Picks 3/7/08 [Brownstoner]
These stats do lend credence to the argument last week–which I did not participate in–that the PLG market is indeed in a serious downward cycle. This lovely, fully renovated, mint condition house on one of the very best block in Lefferts Manor sold for 90K under asking. That says something about the market in the area. And it ain’t positive. On the flip side, selling for aprox 9% under ask is not so bad….
“Is it crashing? No, but suddenly, there is palpable shift in sentiment among sellers/brokers and some considerable price cuts.”
You’ve lost me.
But you just did A Guest!!!!
A Guest, at least we agree on two things: The What is a cancer on this site (although I do like having him around) and you add nothing to the discussion.
No, I’m a long time visitor who used to enjoy reading Brownstoner for lively, informed discussion. The What has been a cancer on this site, and you are just an enabler Biff. Do I add anything to a discussion? No, that’s why I read and don’t spout off about something I am not familiar with.
Miss Muffett, thanks for sharing your feelings on your own situation. I’m curious to know, if you care to share this too, in what specific areas you’re targeting to buy? I’m still not seeing much softening in “prime” Brooklyn, i.e., BH, PS, CH.
wasder, thanks. I agree that it’s relevant and interesting to go back and see what posters (not just DOWhat, but all posters) were predicting about listing prices and comparing those predictions to the actual sales prices. I cited DOWhat because he’s the most vocal, obnoxious and sure of himself so it’s even more fun to prove him wrong.
I agree with Wasder and Park Place that the market feels a lot different than it did even 4 months ago. Is it crashing? No, but suddenly, there is palpable shift in sentiment among sellers/brokers and some considerable price cuts. That said, prices are still very high so I don’t think there’s reason for panic on the part of the sellers – prices raced up so fast over the last 5-10 years that even if they drop 20-30% from peak levels, most sellers will be doing just fine. We ourselves are ready to buy tomorrow if we find the right house (knowing, though, that we have more leverage now since we are buyers with no need to sell our former place which is already sold). In other words, we’re not waiting for a market crash, but we are seeing the market continue to soften, and indeed it will be interesting to track this “six months later” feature over the next year or so. But even if we bought something tomorrow and the value went down over the next year or two (which I actually think it would), we’re in it for the long haul so would find that OK. On the other hand, we are patient, since we will certainly not go for some of the preposterous prices we were seeing in the last year (which in many cases, we later saw drop…)
Once again A Guest (DOWhat’s 4th logon ID) trolling and continuing to add absolutely zero to the discussion. I love it.