Open House Picks: Six Months Later
Mixed bag this week. Open House Picks 3/28/08 [Brownstoner]
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BrooklynGreene – just curious – how long ago did you buy? I really think most sellers who’ve had their properties for more than 5 years will still do just fine – if prices sunk to 2003 levels, that would be pretty major news, but it would still mean that 2003 buyers have not lost anything (which is not the case if you’d had the money in stocks) and in fact saved all that money in rent all those years. And, anyone who bought well before would still be making a decent profit. Chances are, prices may not sink below, say 2004-05 levels though of course it’s anyone’s guess, and of course there is so much variation depending on the specific property…
Do I sense some stress floating around here? Smells like stress…
Don’t worry, we’re in the same boat too wondering whether to sell or ride out the next 10 years…when we’ll be o-l-d… hhh…or…just sell any time we want and make a lot less than we’d thought possible…
Oh, well…enough with the “…”…
z – whatever. It may be a “fun feature” to you, but in 6 months it will also be a very meaningful tool to determine where today’s open houses have ended up and where the market has gone since the crisis hit.
if i seemed to be “shouting” or making things personal, that was not my intent. my point is only that the complaints about this feature don’t really make sense. it’s not intended to be a barometer of the market at this moment, or a guidebook for individual home-purchasing decisions. it’s just a fun feature to see what happened to listings we have talked about before.
miss muffett, that part of my comment was directed at hellesbelles, who suggested we should be looking at “post labor day 2008” sales.
Don’t make assumptions about what we know, it’s tiresome. I realize that there is no sales data from September, but I am looking for the most timely indicators that can allow me to make a decision about a purchase today. I thought Miss Muffet made a valid point – and I am guessing that we share the same perspective as aspiring home buyers. I look at everything out there and absolutely reach my own conclusions. My point was that we cannot take data from 6 months ago as a true read as to what we are facing now.
And yes Brownstoner has lots of great features … all hail.
If we did a “3 Months Later” post there probably wouldn’t be much to update, other than a price cut or two…we’re going to be mixing in more regular Sales posts as they pop up though.
Ugh, why must small things turn into shouting matches? z, of course I know the regular lag time between properties hitting market and then closing – I’ve been through the cycle several times myself. I was simply pointing out that today’s 6 months later had a greater lag time for closed properties featured, than previous 6 months later columns. Of course, it will take at least another 3-6 months to see the effects of the current crisis, which will indeed be interesting. Anyway, let’s move on!
you don’t seem to understand how the housing market works. except maybe for a few busted closings here and there, there are likely NO recent sales yet that reflect the market events of september. any recent closings are for deals that were agreed to several weeks or months ago.
in any event, the “6 months later” feature is just right as it is. if you want more current sales data, check out the ‘recent sales’ features on the site.
or do your own homework, for pete’s sake.