Open House Picks: Six Months Later
Comment: Nice price movement on 2nd Place! Open House Picks 11/7/08 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Nice price movement on 2nd Place!
Open House Picks 11/7/08 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
Yup, bodega boy…got it and will spend it. No big deal. Stop commenting on what you’ll never achieve.
Sing of how bad things got that 30% down and 6.75% rate is considered “limited financing”. When I bought my 1st house no bank I went to considered requiring anything less than 20% down and interest rates were 8%.
dibs’ foray into the ghetto is looking better by the day. The idiot is claiming to throwing more money into it LOL. You can’t make this s*hit up!
The biggest problem for someone buying these properties is financing. Not to see that it should or will get better. But even if buyer sentiment was there, the financing options are limited. (i.e. 30% cash down at 6.75% interest rate). This is much different than the single family, conforming loan market.
BHO – 1/2 of the comments are yours on this post. Take a deep breath.
the normal reaction to the fact that nothing is selling is to lower the price until it does. This fairly basic bit of advise is not being followed by the real estate geniuses in Brooklyn. Instead the idea is: lets give it time until the bubble re-inflates. meanwhile the sellers have to carry the cost of the property and put their lives on hold while they drop the price little by little creating the illusion that their property is crappy and that it is on a downward projectory making buyers even less likely to approach it.
At this point things are selling that are under a million or over two and a half million. the super-ritzy market is still alive as evidenced by sales in the Meier building, one BBP and one Hanson, but rowhouse on regular, decent, not spectacular blocks for over a million are largely stuck on hold. That’s what I’m seeing.
…imminent[.]
***Bid half off peak comps***
…shadow inventory and more economic revelations of distress behind a cracked dam.
***Bid half off peak comps***
It’s OK gemini. It happens to a lot of guys when they get older.
Calm before storm, basementalist. Same thing happened before the boom (buying storm or frenzy) @ tail end of fear (mid 90’s). What we’re experiencing now is the head end of fear before capitulation. With respect to knives, the Kill Bill moment (you know, the banquet scene at the end of Vol. 1) is imminent?
***Bid half off peak comps***