Open House Picks: Six Months Later
Comment: What the heck happened to all those listings? Can’t be good… Open House Picks 2/13/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: What the heck happened to all those listings? Can’t be good…
Open House Picks 2/13/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
Shillstoner,
🙂
dt and Bob, I just love how you guys can spin anything to be a positive! The house sells for almost 20% below asking and you’re gloating! Kudos to you!
Looking back at the original post, I said that I thought the asking was reasonable and that it would sell for the same as the 2 story house that closed for 1.05M, and dt agreed with me. But actually it closed for 120K less than that.
I won’t gloat dt, BUT I WILL observe that, despite the conventional wisdom that houses in “marginal” brownstone areas would decline in price more than those in prime areas, Lefferts Manor, and PLG in general, have done relatively well. Of course I DON’T agree that PLG/LM is marginal.
Go ahead and gloat, Bob. Several houses are in contract in Lefferts Manor. 128 Rutland did pretty well considering that the kitchen and bath both need updating.
It would be unseemly for me to gloat about the Lefferts Manor house being the only one to sell, but still….
Can we agree The Mutant Asset Bubble is over????!!!
Objectively YES!!
under regular circumstances a mid career ivy league couple should bring $260K together. I don’t see why such a couple should not afford a 3br apt in Manhattan or a small brownstone in prime areas. This brings the price to max 1 mil
but this is under normal conditions and risk should be factored in…
outside prime areas the price should be more than halved as such couples would not touch those (bad schools)
I love the follow ups but MFN is right. Let’s not forget bubble or no bubble sellers usually pack a lil fluff in thier asking price. The numbers are very close.
Prices are coming down, but slowly because it is an illiquid market. Highlighted by people pulling properties rather than take the loss. Inventory builds, then prices will drop more.
Wait until winter hits…