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]
MM…inventory for brownstones is low and ain’t going to dramatically increase. I didn’t say prices were going to rise, just that they have bottomed.
My next prediction, seeing that my prediction that the end of 2009 would be the bottom for brownstone prices is apparently correct, is that prices will definitely be rising by the end of 2010.
By 2012 I will be able to sell mine at a profit including the extra $100k I put into it.
I don’t know how long you’ve been buying and selling. I started in 1985. I smelled this in 1997-1998, more so in Philly than here. This market for brownstones is very, very tight and the contract activity is definitely accelerating.
You just wait. The tell tale sign will be the first time you see an open house cancelled-contract pending!!!!!!
2:58 is all he’s got, MM. Oh, and GE’s dividend.
The fact that no one wants to discuss preforeclosures has me very suspicious. Even if they haven’t spiked locally, the national epidemic will affect Wall St when it finally hits the balance sheet.
***Bid half off peak comps***
“yet”. I love that word!
You got me on inventory, DIBS. I never thought that Washington and the FEDS would allow banks to sit on preforeclosures so long. In Detroit they’re fucking bulldozing houses like they did crops during the GD! (Ah ha! Conspiracy theory: Macdonough!)
If the NYC market is turning around can you at least provide data that shows preforeclosures down from peak?
ANYBODY!!! Can we get a thread on this? It might just be bullish! (“Careful what you ask for, BHO”)
***Bid half off peak comps***
I hope you people are happy where you live now because you are not going to see lower prices for brownstones.
DIBS – what on earth do you think is grounds for turnaround? I can see, best case scenario for bulls, stabilization as an argument, but turnaround? Based on what? Whereas there are various shoes that could still drop to cause further slide and thus risk still seems to be tilted toward additional softening.
below dropping asks, DIBS.
***Bid half off peak comps***
if I use my own place as reference, it can probably sell for more than it would’ve prior to the crash. don’t understand it but aint complaining either until I realize that means the house I want to buy is not dropping either.
Oh well, there’s still my Lotto fallback plan – since my waiting strategy hasn’t pan out yet
Of course they are below peak. that’s not the issue. the isssue is that there’s no inventory (yeah I know, it’s coming, blah, blah, blah…you gyuys been saying that for 18 months) and things are selling quite rapidly now at prices 5-15% below ask.. THESE ARE NOT SIGNS OF A WEAK MARKET.
I don’t care about condos/coops.
I know, m4L, but when compared to peak, prices are less expensive. That’s bearish. Rising volume doesn’t necessarily mean it’s a bull market.
***Bid half off peak comps***