The Waiting Game
The days of racing with the clock are over in NYC’s residential market (no duh), and the Times’ real estate cover story this week examines what the dynamics of a less frenzied market look like. While prices haven’t dropped much, buyers and sellers are taking their time nowadays, and a lot of people are considering…
The days of racing with the clock are over in NYC’s residential market (no duh), and the Times’ real estate cover story this week examines what the dynamics of a less frenzied market look like. While prices haven’t dropped much, buyers and sellers are taking their time nowadays, and a lot of people are considering how much rehab their properties need, or undertaking lengthy/expensive fix-ups, before listing them. Case in point:
Carolyn Walkin and her husband, Jim, wanted to move to the Long Island suburbs to find better schools for their daughters, Ava, 4, and Veronica, 2. But they were so worried about a potential recession that they did extensive research to ensure they could sell their three-family brownstone on Henry Street in Cobble Hill, Brooklyn, for the price they wanted. Ms. Walkin spent about five months and had conversations with at least seven brokers before choosing Terry Naini of Prudential Douglas Elliman. Before that, she had also researched auction houses and considered selling the brownstone without a broker. Even though they finished an extensive renovation two years ago, they added details like art on the walls to attract sellers. Within one hour of their first open house, they received an offer for their asking price of $2.5 million. But Ms. Walkin didn’t relax until the paperwork was signed.
Not a bad outcome, but perhaps indicative of the high anxiety in the air these days.
Responding to a Less Heated Market [NY Times]
Photo by TrespassersWill.
1:30
i guess you don’t pay city and state income tax…and the child care options are plentiful and the public schools are great where you are so you don’t need to pay through the nose for decent childcare nor send the kiddies to private school. you may have some unique situation, but for the average person the fact remains that NYC is one of the most, if not the most expensive US city to live in (see salary.com cost of living comparison tool). To argue otherwise is not supported by the facts.
“We went to Al Di La (ranked the 4th best Italian restaurant in ALL of NYC) last week with someone from Miami and they commented that for the quality of food, the prices were HALF what they would be at a comparable place in Miami.
So yes, I have also found what you say to be true, 1:30.
Do you know why they are less expensive?? They have to eat the inflation on their bottom line. Businesses that manufacture food can’t pass on the inflation because people will stop buying their product.
“Per usual, the What is talking nonsense”
Here we go!!!! What mother fucking planet you live on???????!!!!!! You are going to say there is no inflation and prices are the same from 1999???!!!! Stupid motherfucker thats why the crash is going the hurt. The clueless have no fucking idea whats going on!!!
The What
Someday this war is gonna end…
Gasoline in this country is cheaper than water.
We went to Al Di La (ranked the 4th best Italian restaurant in ALL of NYC) last week with someone from Miami and they commented that for the quality of food, the prices were HALF what they would be at a comparable place in Miami.
So yes, I have also found what you say to be true, 1:30.
Per usual, the What is talking nonsense.
“Yep that is true but, you pay higher cost on food, clothing and other products.”
Not true for me. I’ve lived in other large cities in the country and I actually spend less on these things here. In NYC you can find quality restaurants at a lower to moderate price range. In other cities there is often a big gap that goes from McDonalds to super fancy with nothing in between.
As for clothes, NYC has lots of options for lower priced quality clothing that most other cities do not have.
The seller sounded a bit OCD to me. Who spends 5 months trying to find a broker? And why would she be that worried given that her research should’ve shown that prime BK real estate has not been affected?
The What, your singing was way too pitchy. Sorry, it just didn’t do it for me, dawg.
“1:02…
That is true, but without a car, I save approximately
$400 a month car payment
$120 a month on gas
$120 a month on insurance
That’s $640 a MONTH I save by living in New York and not driving. (not factoring in repairs to the car)
I spend $81 a month on an unlimited metrocard”
Yep but, You pay high cost for good that offsets your savings. High cost to service debt, food, clothing and other things.
Look at the value of money in 1999 and look at the value in 2008. You are losing big time in the war with inflation.
BTW There are other people that own a car (ME!). Why should I have to eat inflation fumes so a Asshat can get a overpriced condo? Gas 3.30 a gallon, Bread (Whole Wheat) 3.89 and don’t talk about milk. You are seeing the effects of a crack up boom in Real Estate and Commodities.
The What
Someday this war is gonna end…
1:02…
That is true, but without a car, I save approximately
$400 a month car payment
$120 a month on gas
$120 a month on insurance
That’s $640 a MONTH I save by living in New York and not driving. (not factoring in repairs to the car)
I spend $81 a month on an unlimited metrocard.