Open House Picks: Six Months Later
Comment: Mixed. Open House Picks 3/26/10 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Mixed.
Open House Picks 3/26/10 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
Historically, homes sold in 3-5 months for close to asking prices.
This week, we’ve got two homes sold at huge discounts and not particularly quickly, and two that didn’t sell at all, in the fastest trading part of the year. Not good…
Two years ago I had to show an apartment 18 times over the course of a week & ended up w/ only 4 qualified applicants. This year, using the same CL ad, I showed it to 4 people in one afternoon & all 4 wanted it & were qualified/credit worthy. Obviously below market but all the people said that Slope rental market is really tight.
Like every week the “blue chip” hoods sell for top dollar, “fringe” hoods not so much.
Co-ops often make the “Biggest Sales of the Week” list, but they are mostly in DUMBO or One BBP or the Meier Building. There are many other sales that do not reach the “biggest of the week” but which can give a good indication of the market.
Ringo, boards have the right to reject purchase applications. Hearing about two in a row is unusual, but I guess it happens.
ringo, it would be juicy to hear why the rejection
I’ve never had more than a 2-week gap in vacancy, and then only to do work on the place.
I misspoke on the 6-month, BHO, I was thinking leases already signed. Not analogizing ROTD to HOTD correctly. But leases are not public records so 6-mo later is impossible. And my lawyer’s ready to quash your subpoena. 😉
I’d love to see follow-up on the co-op open houses too.
I know two sale in the neighborhood (brooklyn heights) that went into contract near ask and then got turned down by co-op boards. I’ve lived here for a while and I’ve only heard of a couple co-op board turn downs ever, among friends. And now two in a month.
antidope, I state the obvious on how many are sold – 50% sold is push and either side of 50% sold is bearish or bullish. there’s not much to say on this so I dont pretend or attempt to add color to an obvious black/white situation.
want to spar on something? I’m bored and missed the old sparring sessions with you.
Let’s subpoena the private recordkeeping, babs!
Interesting Times story. Sidelines getting mighty crowded.
No, slopefarm, I imagine rental rates are somewhat firm (down a fraction, up a fraction). That’s why I use the 10x metric. What does a lease have to do with a 6-mo-later (or any reasonable period) on rentals until they’re rented?
***Bid half off peak comps***