Open House Picks: Six Months Later
Comment: Still not much to celebrate. Open House Picks 3/13/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Still not much to celebrate.
Open House Picks 3/13/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
Was Hicks Street house really nice inside? I don’t remember the listing but it seems like the seller did very well.
I join MM in being perplexed at Brownstoner’s lament. Every week he seems heartbroken that HOTDs from 6 months ago haven’t sold, or have sold well below ask. Why? Because realtors advertise on this site?
I was just baiting you, MM. However, inventory for brownstones is very, very low. Condos are a different story. If many of these sellers MUST SELL, they got to take whatever bid comes along. Why aren’t these clearing at lower prices.
The Hicks house went for only 8.4% off of ask. That’s pretty surprising with any listing. I wonder why it was $2,701,000 and not a round $2.7 MM!!
Oh DIBS, do we have to go through this again? Some people always need to sell – always have, always will. Sure, some sellers will opt not to sell now, but not all can. Plus, many sellers, even at prices vastly reduced from peak, would still make a killing over their original purchase. Even I am tired of repeating this again!
I went to the Hicks house with a friend who is in the market. He asked broker, what would it take to get this done? Answer: “about 2.7 I think”. Right! House was nice, but not super nice.
Actually the situation is pretty bad. Little sells if at all. Prepare for another leg down.
Or they don’t really need to sell and won’t take a lower offer.
Why do the Mr. B supplied comments always reflect seller bias? “Not much to celebrate” assumes that lingering properties are bad news, but for potential buyers, it’s good news – showing that overpriced properties won’t sell in this market, which in turns puts downward pressure on prices.