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]
Yo BHO What’s Good???
Damn I cant take a vacation without something going boom!
Can we agree The Mutant Asset Bubble is over????!!!
The What (Thanks for the laughs)
Someday this war is gonna end…
“…sellers better have a LONG time to wait. Years. Maybe a decade or more.”
In vain.
***Bid half off peak comps***
Regarding whether people are ‘holding out’….couldn’t it be it is not worth it for them to sell unless they get a higher price. Otherwise it is just fine to stay where they are.
Also–even for others in declining market and it declines further….doesn’t it become easier to ‘trade up’ when prices are even lower’. Such as: right now someone would need extra $250k to get something better suited…if prices drop 20% then need only extra $200k (yes assuming that their current property is paid for).
CNBC’s Rick Santeli just said he heard from a friend on Wall st that… blah blah blah.
I agree with Miss M. that sellers who take their properties off the market trying to wait for return-to-peak pricing are probably playing with fire.
Of course no one knows for sure, but my opinion is that those sellers better have a LONG time to wait. Years. Maybe a decade or more.
Wrong, chuck. This is a historic boom/bust. After adjusting for inflation (i.e. keeping future prices in 2009 dollars), they will not see the recent peak again in their lifetimes. To hold out is to accept less later. But they fall for the “greenshoot” recovery garbage on TV and in the papers and think otherwise.
We figured that’s how you got your info, sebb.
***Bid half off peak comps***
“What the heck happened to all those listings?”
Filed under SHADOW INVENTORY.
***Bid half off peak comps***
CNBC’s Rick Santeli just said he heard from a friend on Wall st that a lot of people are getting interviews and getting hired .
Agreed the South Slope house (6th Avenue) was way over priced for it’s size and location. It was purchased in 2005 for barely over a million. What were they thinking with an asking price up nearly 50% since then? I have no idea about the reno, but I can’t see it being worth that much.