Widget Falls Way Short on South Oxford
Another reason we wish our programmer would finish the updated version ye olde widget: This one-bedroom at 60 South Oxford Street in Fort Greene was listed for $399,000. 58 readers weighed in on the price via the widget, with an average vote of $306,250. Once again the widget (and the seller) have the last laugh:…
Another reason we wish our programmer would finish the updated version ye olde widget: This one-bedroom at 60 South Oxford Street in Fort Greene was listed for $399,000. 58 readers weighed in on the price via the widget, with an average vote of $306,250. Once again the widget (and the seller) have the last laugh: The co-op just sold for $375,000. We’re definitely a little surprised at how high a price this one fetched. You? GMAP
actually the widget is designed to spur page-views.
“The “recovery” high has to wear off.” It just has to bc you say so. oooookay.
The widget is not designed to predict the selling price.
The widget is designed to underestimate the selling price.
“We’re definitely a little surprised at how high a price this one fetched. You?”
Nope. There’s always a few “shoe shine boys” hanging around near the market top. Gotta play to lose.
We’re far from capitulation. The “recovery” high has to wear off. We haven’t yet heard “RE is a bad investment” like we did in the early to mid 90’s.
***Bill Thompson for Mayor (TOMORROW!!!)***
Although I would not have paid that much for this particular property, some of you should come to grips with the fact that this is what property costs in prime areas of Brooklyn. 375k is a lot of money, no doubt, but this apartment is certainly not in the realm of a monied individual callously tossing their cash around. This sale is not an outlier at all. You post the same exact comment on every sale that goes over widget price.
I put in what I think it will sell for. I have a family so that apartment is worth nothing to me, I would pay zero dollars. But I’m not an idiot. I know it is worth something to someone else. Are people really putting in what THEY would pay for it? That makes no sense to me.
Then again, I am routinely one of the higher guesses.
How long are folks going to treat each example of widget underpricing as an isolate case of a buyer overpaying? We’re easily in the double digits of examples in which the sale price exceeds the widget by at least 15%, with one or two counter examples at best.
Mr. B, in light of the confusion soem have voiced, perhaps you want to clarify the question you want widgeteers to answer. Is it “how much would you pay for this house/aprtment?” or “What do you think it will sell for?” People seem to vary on what they think an “appraisal” means in this context.
Again, the debate on the widget’s accuracy is not a referendum on the direction of the market. Those are two analytically distinct points. Yiou can recognize teh widget’s bias without conceding whatever position you’ve taken on the market. Comparisons to comps, not widget, are what’s relevant to the market.
Standard widget markup would have put this at around $350K…
tyburg6, in real estate there are always wild cards. Takes just one joker….
DeLepp… comparing the current inflated/ridiculous sale price to the completely retarded sale prices of 2008 doesn’t convince me of much! (It’s slightly less stupid?)