Yahoo: "Don't Buy a House Yet"
Started by Fluter
about 16 years ago
Posts: 372
Member since: Apr 2009
Discussion about
Did you see: http://realestate.yahoo.com/promo/dont-buy-a-house-yet.html I completely agree with this. There are plenty more data than Goldberg cites that support this position. Better deals will be had by those who wait, if they can... no need to rush if you don't have to. I've been telling sellers, if they will listen, most won't, that they need to price at market or slightly below and market/advertise aggressively and immediately. It is foolish to price high and hope to get a high offer if you need to sell--besides, those high offers tend to evaporate before contract signing once the buyer does more research. {Manhattan real estate agent.}
Your advice to sellers is good.
Apartments priced at or below market (realistically taking into account pros and cons) seem to sell quickly, and in some cases for more than the asking price. For example 118 W 79th Street PHAB was on the market for only 20 days.
we haven't really seen sellers panic... yet...
I can't wait until NYC RE is free.