Open House Picks: Townhouses

For crying out loud, can we discuss the open house picks, that is the purpose of this section isn’t it? What does LI real estate have to do with Brooklyn townhouse prices?

Now, about the houses this week, any thoughts????

The Wall Street Journal reports on pricing a home. “As the housing market cools, one of the hardest decisions facing home sellers is how to price their properties. Bigger inventories of unsold homes also are making it harder for sellers to figure out how to make their house stand out amid the competition.”

“Some brokers are telling customers they need to underprice the competition. Sharon Baum, a with the Corcoran Group in New York, recently listed a two-bedroom, two-bathroom apartment for $3.7 million.”

“That was $100,000 less than the asking price for a similar unit five floors below, even though apartments on higher floors typically carry bigger price tags. ‘As buyers have more choices, you’ve got to make your apartment stand out,’ she says.”

The Long Island Business News from New York. “As Long Island’s housing market continues to soften, real estate executives refuse to utter the ‘b’ word: Bubble. But one area economist isn’t afraid to use it. ‘In the bubble areas, i.e. long island, things are really coming down quite quickly,’ said Irwin Kellner, a Hofstra University professor and North Fork Bank’s chief economist. ‘You don’t need me to tell you this.’”

“Inventory has soared by as much as 75 percent in some areas, Kellner told the group of Long Island’s key economic development players and real estate developers. ‘The housing market bubbled up in a way that it had not before,’ he said.”

Mr. B,

Thanks for showing a range of housing. Those who can’t afford a mil plus (yet) appreciate it.

FYI, Tuesday HOTD: 1052 Dean is being shown this Sunday 12-1:30