Open House Picks: Six Months Later
Comment: Impressed? Not. Open House Picks 10/08/10 [Brownstoner]
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Your Next Project Starts with Brownstoner Comment: Impressed? Not. Open House Picks 10/08/10 [Brownstoner]
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Your Next Project Starts with Brownstoner
“it seems to be taking a really long time to sell anything in Brooklyn”
It seems really mixed. On one hand you have houses that have taken months to sell, on the other hand you have a recent bunch of listings where a few have gone to contract within a few weeks. Despite calls for much lower prices, there has been a floor under prices, depending on the type of house and the area, and when price gets close to it the houses sell. Anything complicated or way over what was the typical price in 2006 just sits, which isn’t a bad thing.
Isabelle Reboh, the agent at BHS, is the owner of 397 3rd St.
544 3RD ST sold for $2,675,000 on 1/6/2011
Maybe some adjustments +/- on location/size/condition, but that tells me the 397 3rd St house ask is off by about $1million. Nothing to stop brokers from leaving their house on the market with a silly “make me move” price. I guess they hope it makes listings for houses they actually want to sell seem reasonable by comparison.
minard – I agree – they waste everybody’s time.
maly – that’s what I wondered. Maybe just maintaining the relationship with the seller for when they do really want to sell (she sold them the home originally.) But if I were an agent, I’d be hard pressed to do it – I’d likely tell them not to waste my time and the time of people looking to buy. (Maybe I’m too outspoken to ever be an agent.) Though hopefully, buyers agents would tell potential buyers it was a “test the waters” thing and not worth wasting time on.
I think people really don’t want to sell right away. They just want to “test the waters”. If someone gives them more than their house is worth, then they will move to North Carolina, if not, they stay put. It is important to avoid these types of sellers.
what’s in it for the agent?
I recently saw the home of a friend of a real estate agent (not in Brooklyn). Agent said house was on the market (for millions), but the owner probably wouldn’t sell. Naive me, I asked why the owner put it on the market if he didn’t want to sell it. Agent said owner was trying to see what it was worth. Sounds like a dumb strategy to me. It was so much higher than comparables that no one would even make an offer. All the owner would find out is that it wasn’t worth what he was asking, which he could find out by looking at comps. Maybe that’s the strategy with the higher-than-comps house here.
Snooze-fest again. This market is making me sleepy…
> it seems to be taking a really long time to sell anything in Brooklyn.
The most desirable (and appropriately priced) apartments in my neighborhood go into contract quickly. The rest sit and get price-chopped again and again.
You are really right on 3rd street, but what about the 2 Clinto Hill houses? I agree the 3rd street house has been there a few times and is wildly over comps, but we can’t blame it all on one owner. After all, the sale on Clifton place and the one at 101 Lafayette are also both above peak.