Open House Picks: Six Months Later

“And then there are “Last Week’s Biggest Sales” for Team Bull. Lots of junk never sells, even in the height of the market.”

This feature isn’t titled “Lots of Junk, Six Months Later”. They’re properties that were considered interesting or appealing enough to select out of all the open houses on a given date. And they still haven’t sold after six months.

“And then there are “Last Week’s Biggest Sales” for Team Bull.
Lots of junk never sells, even in the height of the market.”

admits dibs, the holder of a property that is the very definition of speculative junk

Glad to hear you got my note, lechacal. I think the civility is due to the fact that, whoever the winners and losers are as a result of NY RE prices correcting, the broader crisis affects us all.

What isn’t selling may not be selling for many different reasons. What has sold, has sold and that’s about as real a confirmation as you can get. Although a member of Team Bull, I believe that many prices are unrealistic but that was also the case when I bought in 2007. I also sold something at the same time and I sold it at a realistic price. All I know is what I see in sales prices and that is that many brownstones throughout Brooklyn are still selling in this environment. Some go close to ask, and some don’t. But for those who think that the market as a whole (as opposed to a few individual places) is going to 50% or less of peak prices, I wish them a long happy life of renting.