I confess to being firmly planted in both camps. I agree with many bears and many bulls. Here's why: I am a lover of spaces that are unique and possess great potential. But in my neighborhood and price level, there just isn't much that comes along that fit that requirement. So we resolved to just start looking for our ideal apartment that will satisfy our creative desires at a price where we can... [more]
I confess to being firmly planted in both camps. I agree with many bears and many bulls. Here's why: I am a lover of spaces that are unique and possess great potential. But in my neighborhood and price level, there just isn't much that comes along that fit that requirement. So we resolved to just start looking for our ideal apartment that will satisfy our creative desires at a price where we can afford all housing and living expenses on one salary. We can absorb further downturns, our time horizon is 10+ years. But we did not want to miss out on a spectacular opportunity if it landed in our laps, so we kept an open and objective mind and found THE ONE at almost 20% below a 2004 insider comp. I'm not sure we would do the same thing with a run of the mill 2/2, there are too many floating around right now and unless you can drill down to a great price or your time horizon is long, there will continue to be lots of opportunities. Take your time, find THE ONE, and don't look back. Go bears! Go bulls! Go sheep! Go lemmings!
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Response by NYRENewbie
over 17 years ago
Posts: 591
Member since: Mar 2008
Congratulations! I hope I, too, can find "the one" sooner rather than later.
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Response by nyc10022
over 17 years ago
Posts: 9868
Member since: Aug 2008
> and found THE ONE at almost 20% below a 2004 insider comp
Which would be like 45% below peak.
Few folks would say don't take a near 50% discount if you find what you like. Hell, few of even the bears have said we're going worse than 50%. Pre-bust, I don't think anybody said it.
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Response by alpine292
over 17 years ago
Posts: 2771
Member since: Jun 2008
How do you define "20%" below? Are you buying the apt. for 20% less than it sold for or are you basing the price a different apt.?
Congratulations! I hope I, too, can find "the one" sooner rather than later.
> and found THE ONE at almost 20% below a 2004 insider comp
Which would be like 45% below peak.
Few folks would say don't take a near 50% discount if you find what you like. Hell, few of even the bears have said we're going worse than 50%. Pre-bust, I don't think anybody said it.
How do you define "20%" below? Are you buying the apt. for 20% less than it sold for or are you basing the price a different apt.?
> How do you define "20%" below?
Uh, Math.