Open House Picks: Six Months Later
Comment: Not so hot. Open House Picks 11/13/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Not so hot.
Open House Picks 11/13/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
i don’t know if i would characterize this as “team bear”, rather team crapola in terms of quality (fwiw actually all i know about bay ridge is saturday night fever)
whatever you call it, its neither prime real estate nor priced reasonably. in most markets if you are 0 for 2 there you are going to appear to suck.
As BHO mentioned: those who sold close to ask lucked out because we ain’t seen nothin yet.
More (inconclusive) data points:
…
HotD Week Ending Nov 13, Six months later
540 4th St – sale recorded Feb 8th (ask reduced fm 2.0m to 1.9m)
75 New York Ave – unavailable as of May 1 (ask held @ 1.425m – for 3 years!)
615 2nd St – sale recorded April 20 (ask 2.95m, down fm 3.495m)
430 10th St – still available (ask 1.495m, down from 1.865m)
…
CotD Week Ending Nov 13, Six months later
40 Clarkson Ave #4F – entered contract 4/23 (ask reduced fm 419k to 399k to 389k)
110 Livingston St #8O – sold March 4 (5k over 775k ask)
96 Schermerhorn Street #PH-L – still available (ask 600k was INCREASED 50 listing say “very motivated seller”)
689 Myrtle Avenue, #1G – no longer available (last ask 575k, down fm 615k)
How exactly would Team Bull lose Last Week’s Biggest Sales? If nobody sold a property in all of Brooklyn?
“Seems most weeks Team Bull wins here”
Not really. We all want sales. Price is where we part. Closings tend to be below falling asks. Most weeks, WRT price, Team Bear rocks!
***Bid half off peak comps***
I saw the Crown Street house. It’s way over-priced (think it could go for low 600’s because it’s small, needs a total gut in the kitchen, bathroom, and basement rec area. The agent had told me there were two offers in the mid-600s at the time. There are some legal challenges to this one too.
Seems most weeks Team Bull wins here and Last Week’s Biggest sales. These are just asking too much..asking above peak comps actually for the three that haven’t sold.
nothing to see here folks, keep on walking.
no $5/pint ice cream here, just a&p generics trying to eke out a piece of the premium margin…
My Team’s Bear…BearER than yours…
Volatility in the stock market is bananas. The Euro is Eurover. Wall St scrutiny means GAME OVER for years to come (verdicts or not). Hidden defaults/losses are leaking through the cracks. Brownstone prices are destined to crash another -37.5% before we REALLY recover. But it might not matter as we succumb to this worldwide deflationary death spiral.
Why would ANYBODY buy in an environment like this? We are nowhere near the bottom!
***Bid half off peak comps***