Open House Picks: Six Months Later
Comment: Not much to cheer about. Open House Picks 8/14/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Not much to cheer about.
Open House Picks 8/14/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
I’m not sure how some of them can even get out of bed and make it to work every day!!!!
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I’m still in bed.
Smudge, apparently some people need it. I’m not sure how some of them can even get out of bed and make it to work every day!!!!
I live rent un-free.
I don’t know what we’d do without DIBS here to explain the hidden workings of the real estate market.
Most people living rent free are those that have paid off their mortgages, BHO. It’s not as uncommon as you may think.
“If they’ve been taken off the market, the owners are most likely not in a position where they MUST sell.”
Survey says! Uhhhhhhh! They’re living rent-free courtesy of the banks stockpiling preforeclosures to manipulate inventory, let alone the slow-motion New York foreclosure process.
***Bid half off peak comps***
BHOOOOOOOOOOOOOOOOOOO has found something to cheer about, it seems…
“StreetEasy History
05/28/2009 Listed by Brown Harris Stevens at $3,900,000.
06/25/2009 Price decreased by 12% to $3,450,000.
09/22/2009 Price decreased by 13% to $2,995,000.
01/15/2010 Listing entered contract.”
-23% drop or “worse” [(1-0.125) x 2,995,000 = $2,620,625, beginning of 3rd quarter??] gets it done. Ahead of Case-Shiller. Yes, they WERE getting $3.9M in Cobble Hill pre-Lehman. Mmm hmm.
***Bid half off peak comps***
If they’ve been taken off the market, the owners are most likely not in a position where they MUST sell. Putting something out there to see if you can get a good price is a perfectly acceptable strategy. If not, take it off and live there.