Open House Picks: Six Months Later
Comment: Not too shabby! Open House Picks 9/18/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Not too shabby!
Open House Picks 9/18/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
Bottom line…THINGS ARE SELLING.
Posted by: daveinbedstuy at March 19, 2010 2:33 PM
Deals are getting done. Without question we have moved past a period of stabilization, owners/realtors becoming more realistic in pricing, bids coming in closer to ask, and inventory (though still thin/low) is moving.
“Let’s all meet back here in a year and see what happened….”
There will be much weeping & gnashing of teeth by those who missed the bottom.
“DIBS – based on what? Your wishful thinking? You can accuse me of wishful thinking too, but at least I am relying on a pattern of evidence that is pointing in one direction. How can you say with certainty that prices have bottomed? ”
No one can say anything like that with certainty. If they were that successful they wouldn’t be wiling away the hours on a blog in brooklyn.
Still, you have to look at historical trends over a long period. A lot of the houses that had to be sold are gone and there is a very good chance that would be sellers now can wait it out. You don’t always need buying to turn a market, you just need the selling to stop.
That said, I believe we are closer to the bottom – in park slope vicinity – than one might think. That doesn’t mean prices are going to rocket up, and they don’t have to.
Let’s all meet back here in a year and see what happened….
mystery comp doesn’t appear as a sale, though some of those ppties are indeed 15 ft wide! just not sold recently.
I think my 1st mortgage in 1986 was 11% and refi in 1991 at 9.25%…..conforming not jumbo
See property shark. I think it might actually have been 362A or something like that, but in PS it shows up as 360.
360 5 street does not appear in se or acris. pls double check
Additionally, they announced a big program to expand the entire home mortgage business, including buying pre-existing mortgages from other banks.
Ciibank just cut jumbo rates from 6.975% to 5.875%!!!!!! This was breaking news at 2:45.
**Brownstone Market Has Bottomed**