Open House Picks: Six Months Later
Comment: Worst batch in a while! Open House Picks 6/4/10 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Worst batch in a while!
Open House Picks 6/4/10 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
It shouldn’t if people were reasonable, but I think it did work. It pushed the prices and the interest up, and so much of this game is about confidence.
$800k
You really think $8,000 is going to make or break a decision for properties in the $88k – $2.0MM price???? I seriously doubt it.
a different order of things, and anecdotes aren’t data BUT we had three sales in my coop building immediately prior to the end of the tax credit and none since.
The tax credit ended on April 30th. That is when the contracts had to be signed. Typically closings would occur later. Maybe $8k is enough.
You are probably right, I’m reading too much into this one group. It was a pretty weird batch of problem properties because of location or condition.
Respectfully, I don’t think it was the tax break that had any affect on not rushing to buy these properties.
They were all properties (except for the building in Cobble Hill) that are in marginal areas even within their neighborhood. Most don’t show well, except maybe for that odd duck on Madison.
The Lexington place will probably find buyers in the low to mid 400’s unless there is something yucky on that block.
Interesting that the tax break plus low mortgage rate did manage to move the needle so much, even though $7,000 is pretty much peanuts in the NY market. Case-Schiller numbers seem to indicate a double-dip.
this is an easy BEARISH call – ie 0 for 4