Open House Picks: Six Months Later
Comment: Not a lot of action. Open House Picks 12/05/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Not a lot of action.
Open House Picks 12/05/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
Petebklyn – your comment is directly countered by what brokers (and empirical evidence) tell me, which is that seasons DO matter in NYC, and inventory is rising across the board.
Actually, I’m not golden since there’s no guarantee of a variance for very little #2 and I have too many friends facing school scares to dare to buy a place right now in a crummy zone. So we’re constrained regarding the geographical boundaries of our purchase for at least a few years. On the one hand, we’re thinking, let’s stay in our rental til #2 is in #1’s school, and then buy anywhere we want. Prices will almost certainly only continue to go down. On the other hand, if we find a decent place for right price before that, we’ll buy. Though frankly, there are other things we really like about the locations where our preferred schools are, so even after #2 is in, not sure how far away we’d want to move. Our budget is high enough, and market getting soft enough, that we’re confident we’ll eventually find what we need in location we want.
I think ‘spring selling season’ is a myth for NYC. Maybe has some truth to suburbs and new developments but not here in the city. All based on moving before school opens in Sept. Doesn’t hold here.
Where price will go who knows. If you examine the data 10 years from now – you probably will see significant drop in price per sq ft….but also bigger decrease in # of sales.
Meaning most folks just won’t sell for what some are hoping for. Just just the divorces and estates (and those would be in ‘estate’ condition — not the beautiful renovated townhouse on best blocks people pine for).
Hum um Team Bullshit….? This is Houston and we have some “Problems”…..
http://www.bloomberg.com/markets/rates/index.html
Say Buh Bye….
The What (Pull the rip cord!)
Someday this war is gonna end..
Many of us in District 13 commute to District 15 for schools. 261 in Boerum Hill is just two stops on the C train from Fort Greene and Clinton Hill. If your kid is already in school, you’re golden, no?
BrooklynGreene – if it weren’t for the school issue (sorry, my oldest is already in District 15 and I don’t want to rip him out and/or commute too far), my interest would definitely be piqued by a 4-story townhouse in a good location under 1 mil. Of course, so much depends on location, condition, lay-out etc. Still, I think smart sellers these days will price low and hope for a lot of interest, since there are certainly buyers out there (me, Whuh, etc.) sitting on lots of cash but very picky about price. The low price is a key way to reel them in.
“Hey, No One –tough times, huh, sitting on a declining asset underlying an untenable loan?”
Yup. Checked his profile. He’s holding a bag in the slope [gotcha, nobody! say cheese!]. Be easy, Whuh and MM! You’re hurting a lot of people with your comments. I don’t understand how you can be so insensitive.
***Bid half off peak comps***
What does the Miss Muffet rhyme have to do with “peas”? Isn’t it “curds and whey”? And the “Princess and the Pea”?
Miss Muffet or the ever-charming Nokilissa, is either of you interested in a 4-storey prime FG rowhouse (that needs work…”bring your architect”…hahahahaha…a legal double duplex) for $999,999?
Would that kind of price seal the deal for people in this market?
Brownie’s comments since Lehman [my comments here]…
*0-for-4 on the first batch of post-Lehman Open House Picks! (March 20, 2009)
*The Lehman effect kicking in. (March 27, 2009)
*Freeze! (April 3, 2009)
*Three cheers for the New York Avenue house! [Finally, a single post-Lehman sale to celebrate about!] (April 17, 2009)
*Can that Willoughby price can be right? [shock and awe] (April 24, 2009)
*Blah. (May 1, 2009)
*Nice price movement on 2nd Place! [sell yet?] (May 8, 2009)
*Lower prices but at least some deals are getting done. [definition of a crash] (May 15, 2009)
*Go Bed Stuy! [conforming] (May 22, 2009)
*Blue chips languishing [non-conforming]. (May 29, 2009)
*Not a lot of action. (June 5, 2009)
…Consistently bearish. And the YOY Case-Shiller drop is accelerating. It’s time for the “owners”, banks and CDO-holders to huddle up and call some audibles.
***Bid half off peak comps***