Open House Picks: Six Months Later
Comment: Are these sellers living in some other planet? Open House Picks 4/3/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Are these sellers living in some other planet?
Open House Picks 4/3/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
“Ultimately, he said the firm expects prices to drop an additional 5 to 10 percent.
5-10% further down? Bring out the National Guard!!!”
Yeah right. You’ll be lucky if it is 5-10%. Deutsche bank predicted 35%. I predict will be more.
People are so caught up in the bubble mindset that they forgot that the 3mil brownstone of today was 300K back in 95 in Brooklyn Heights. This is were prices are heading–don’t forget this is the worst recession after world war.
5-10 is the rosy, biased and self-interested opinion, 11217. “He” is quite vested and naturally overly optimistic. If even “he” says 5-10, expect 3 to 4 times that. Yeah, ultimately half off (“How convenient, BHO!”).
***Bid half off peak comps***
Speaking of that Real Deal link, it’s interesting that we now have a score on rentals, -12%. How low will this go?
*Park Slope: “rental listing prices fell 7.4 percent.”
*Dumbo/Brooklyn Heights/Carroll Gardens/Cobble Hill/Boreum Hill: “The area also saw one of the smallest declines in rental listing prices over the past year — 4.7 percent”
*Red Hood/Gowanus/Windsor Terrace/Greenwood Heights: “Conversely, its median rental listing prices have declined the least during the same time period, by only $50, to $1,900.”
Tell us more BHO…
We loved the Pacific St house when we visited a few months ago, but it still feel it is a couple 100k too high. Luckily we found something nearby. As for TRD article, it didn’t really speak to the townhouse market. On the margins there may be some competition from unsold condo development, but I don’t really think they directly compete for the same buyer group.
“Today’s low ball is tomorrow’s high ball.”
Right about now, I could use a highball
Speaking of that Real Deal link, it’s interesting that we now have a score on rentals, -12%. How low will this go?
“Brooklyn’s official motto may be ‘Fuggedabout it’ but the borough’s real estate industry is not having an easy time shaking thoughts of double-digit price drops and troubled residential projects.” – Sarah Ryley
LMAO!
***Bid half off peak comps***
And a quote from the Real Deal article you have now posted twice (in addition to Mr. B already covering it today):
“Ultimately, he said the firm expects prices to drop an additional 5 to 10 percent.”
OMG, the horror!! 5-10% further down? Bring out the National Guard!!!
Bklplebe:
You know how we can tell you are crazy….?
Posting the exact same link to that story (which Brownstoner already highlighted earlier this morning, I might add) TWICE!
We saw the link when you posted it at 12:47.
“First it is important to note that PRICES FELL.”
Yes, Captain obvious. I’m pretty sure everyone is aware that prices fell. We are in a housing bust. Did you expect Manhattan to continue rising forever while the rest of the country has been in a downward spiral for the last 3 years?
You can spin it all you want. Yesterday you said no one is buying and today I’m telling you that you are wrong. 2230 people bought apartments in Manhattan alone in a 3 month period. (During what some of you claim is the end of the world, no less).
End of story.