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]
Rates may go to 6.0-6.5%. They will not approach 10% which is where they were in the late eighties/early nineties. Not many of you are old enough to remeber the late seventies/early eighties rate levels.
‘dope,
1) You assume no refi of equity back down to water table. And no adjustment for inflation.
2) Where did comps peak out at though? Well in to the two’s I bet.
3) Nice pad but they usually brag about high contract amounts.
4) 500k in ’04 during headier times. That comp will return, easy.
***Bid half off peak comps***
“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.”
PWNED!
Age undisclosed, DIBS. To your point: rates will certainly go back up towards, not necessarily to, those numbers. High risk commands a high return. Fed will not continue to buy MBS’s indefinitely. Private investors/bond holders want more than zero!
***Bid half off peak comps***
1) state st. held for 40 years by same owner. no loss.
2) 7 st sold for 1.3 at end of 2004. no loss
3) 270 sterling = ? looks like it might have been a lot. no #s available
4) 146 halsey st sold for 775 (not still listed) and last traded for 500 in 2004. no losses
OK, DIBS, predicting a profit in 2012 + $100K is really straining your credibility now. Keep on wishing – we will indeed see.
“This market for brownstones is very, very tight…”
It was always tight, like lending was ’til 2003. Why didn’t prices triple trough-to-peak before then postwar?
“…and the contract activity is definitely accelerating.”
This is what happens when sellers lower their prices. The stalemate ceases. Fascinating, isn’t it?
There will be another stalemate blinked away by buyers after the market bottoms years from now.
***Bid half off peak comps***
Wait for the Prudential Douglas Elliman First Quarter report, MM.
BHO, how old were you when interest rates were 18-20%?????
“I started in 1985.”
Generations after the Great Depression. You are in unchartered territory my friend.
***Bid half off peak comps***
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?