Open House Report June12-13

Falco. Just a waste of time. Open houses are being put on to appease the pie in the sky sellers. Mkt reality will set in soon enough. Gotta hand it to borkers, 2.5k open houses every Sunday till september. I can feel the mkt falling off the cliff.

Enjoy the ride sellers.

Open houses are a rather ineffective way to sell homes. Most of the people who show up are just looking for home decorating tips or figure out how their own pricing if they should sell. Plus you have strangers/potential thieves rummaging through your apartment and that requires policing plus some faith.

went to a 2br at 505 greenwich. nice building but the unit was strangely decorated and had tiny bedrooms. i'm not so sure about $1.695m...

"Open houses are a rather ineffective way to sell homes."

Here in NYC, yes, because agents are too lazy to stick around for more than 60 minutes.

Would not matter. The open house is basically done to demonstrate commitment to the client. I don't recall ever seeing any statistics that the open house was particularly effective. My own experience was that it was a waste of time.

I bought two properties found via open houses. Both without a buyer's broker.

2500 apartments weren't open for s&g's today. Brokers are trying desperately to sell at the elevated levels they promised to their clients.

Did anyone see that horribly self- serving recent entry on urbandigs? hilarious. if you're not a broker and "in it to win it" you have no clue, regardless of your access to info. yep, real estate, the market naturally most subject to sudden gyrations

Yes and some people lose weight on FAD diets. There are success stories, but they are not the norm.

w67 and ar, two people who do not work in real estate...actually two people who work at nothing at all, except trying to convince others that they are right, everyone else is wrong.

simply because they say so

http://realestate.msn.com/article.aspx?cp-documentid=13108451

http://www.realtor.com/basics/sell/listadvert/openhouse.asp

here is a great example of what i mean...both citi habitats AND tregny report a fall in vacancy rates, and higher rents. both reports say the same thing

however, instead of admitting failure, our two favorite bullshit artists instead sling mud at the citi report in hopes of distracting EVERYONE from the truth. which is that vacancy rates are down, and rents are up.

Thou protest far too much. You sound like a raving lunatic.

are you sure about that? seems like everyone else tries a hell of a lot harder to prove me wrong than i try and prove that i am right....don't you think w67...i mean cc?

after all, there is only one of me, and like 5 of you, yet ALL of that statistics and press, etc plus anecdotal evidence from would be renters, buyers, etc prove that i am right

You're a pathetic rental real estate broker.

It doesn't get lower than that.

Homeless people get more respect.

i think it's kind of funny that you pop up after w67 and ar have said stuff
i actually am really beginning to think that you are all the same person

banker cocksucker thief

You sure don't sound like someone who is laughing.

You sound like you're shrieking.

It's tough to know that everyone thinks you're scum.

Why do you sound so strident, honesy? Desperate, really.

If the market is so strong and you are so busy aren't you wasting time here? Go and lease.

And you're a real asshole so I hope your apparent desperation is real.

aboutready
about 2 hours ago
ignore this person
report abuse Why do you sound so strident, honesy? Desperate, really.

If the market is so strong and you are so busy aren't you wasting time here? Go and lease.

And you're a real asshole so I hope your apparent desperation is real.

desperate. again. twice in the same post. www.thesaurus.com honey. use it.
i waste my time here because i am able to. i have others do for me. i oversee, take people to lunch and for drinks, and crack the whip when needed. big things have happened for me here.
you think those landlords chose to raises the rents and pull the concessions all by themselves?

I have never heard any real argument against open houses for majority of sales. I sold my old apartment in 40 days as a result of my broker holding 2 hour open houses every weekend but one during that time period. My b/f sold his within 45 days doing the same thing. The broker was able to establish relationships with the prospective buyers, and it was easy for them to call to schedule follow up visits (which we always accommodated). Then we found our current home during an open house. We are as informed as any buyers and finding our home without open houses would have been an enormous pain in the butt. I HATED scheduling appointments with brokers and having to leave work early or get there late to see the appointment places during the week. Saying open houses are useless is ... bizarre. If you are talking multi-million dollar celebrity type homes, fine. But for everything else, I think open houses are key to exposure.

What does "inefficient" mean? You are only looking for one buyer--not 100. All sales techniques for RE are in a sense inefficient since only one person ultimately buys the place but hopefully many, many people look at it in order to produce that one person.

Riversider, you contribute a lot on these threads, but I think your first post here is one of those times you post just to be a contrarian and provocateur.

Why oh why would you encourage riversider in any way?

This post is exactly typical of the endless incorrect,misleading and downright lying misinformation that this idiot endlessly posts.

Why lend any credibility to this drivel?

Cunty, you just think he's an asshole because he doesn't agree with you.

What is it that you do for a living? Are you unemployed? Is that why so bitter?

this is a w67 prediction of the economy 15 months ago:

w67thstreet
about 15 months ago
ignore this person
report abuse I like McHale :)...
partriot.. just read past the expletives... it totally makes sense....

dwell.... if all the friends and relatives died at once... you may commit suicide.... but if one falls off every year... then you can hang on... so it is with our financial system at the moment.... if all the banks fail in one month... it would be well... financial suicide... you know... growing carrots and potatoes in Central Park kind of stuff :)

I found my current rental place through an open house as well. I probably wouldn't have ended up here otherwise: I found it during a long weeken open house session. I gave the broker a nice fat check. Do you know what it took to get that nice fat check? A willingness to put in a little effort, but most of all the sense to take on only a well-priced listing.

I like OHs. I wouldna be posting or have much to say about RE if not for OHs. It's a not-so-rare peek into people's bedrooms and living rooms w/o them around. Heheh.

Went to 3 yesterday on UES. I was the only person to show up within the last 1/2 hour at two. At the third, only one other person had signed in earlier. Things seem quiet.

164 West 79th Street #16D
Coop, 2BR+maid's room, 2 baths
Asks $1,650,000; maintenance $2,708
Traffic: Moderate

When it first hit the market in May, this decrepit classic six attracted the wrong buyers. The rosy prose and bright, inviting pictures gave the impression that #16D needed only a light facelift. Buyers arrived excited about a family apartment on a museum block with easy access to a beautiful roofdeck for under $1.7MM. Most of them left quickly, and those who liked it seem to have backed away after reflecting on the necessary renovations.

The listing has been amended to reflect the poor condition, and the agent even asked whether the new version was sufficiently dire. The visitors at the June 13th open house seemed better prepared for the challenge that awaited them. The apartment needs a kitchen, bathrooms, HVAC upgrades and considerable work on floors, walls and trim. Some of the original woodwork in the kitchen and elsewhere may be salvageable, but I'm not sure the quality justifies the effort and expense. The safest assumption here is a total gut. Ideally, the back half of the apartment would be reconfigured to either let in some light or change the use of the space. The layout of the front half is OK, although a new owner might bring the dining room to the front, essentially flipping it with the second bedroom. A side benefit of that switch would be to give the master bedroom some additional needed storage. Expanding the small master bath looks trickier; it's boxed in rather tightly.

There's some good news here, certainly. The apartment has flexible space, a prime location, good light, extensive frontage on 79th Street and the aforementioned roofdeck. The building may not be anyone's first choice, and the maintenance is on the high side considering the lack of full-time doorman coverage, but it's a competitive option with decent amenities in the heart of the PS87 catchment. For a buyer seeking a blank canvas with potential, #16D is at least worth a look.

great write-up W81. makes me want to take a look. am i wrong in thinking that these people are nuts given the closing prices for 11D and 14D in '07??? the space/location does have A LOT going for it though. I'd throw 999K at this bag of bones; quite certain it will go for considerably more.

Yeah West 81 OH Reports..My gateway drug to SE.

I first saw my apartment at an open house and probably attended close to 100 during my search. Its the best way to take a first look and see if an apartment is worth engaging my broker's time and the seller's.
I would imagine from the seller's perspective its also a great way to satisfy "tire kickers", you don't want to alienate what may in fact be potential Clients but why invest in a private showing.