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Property values down by as much as 30% in NYC

Started by stevejhx
about 16 years ago
Posts: 12656
Member since: Feb 2008
Discussion about
And the number of short sales, in which a home sells for less than the amount owed on the mortgage, will most likely continue to grow. The number of lis pendens filings %u2014 a first step in the foreclosure process for houses and condos %u2014 doubled in 2009 in Manhattan, to 724 from 334 in 2008; this year, 382 had been filed by the end of June, according to the Furman Center for Real Estate and Urban Policy of New York University http://www.nytimes.com/2010/07/25/realestate/25cov.html?_r=2 which 382 x 2 = 10% of all units sold in a year. How much are property prices down, Juicy?
Response by Riversider
about 16 years ago
Posts: 13573
Member since: Apr 2009

If only they would reduce property taxes by 30%

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Response by stevejhx
about 16 years ago
Posts: 12656
Member since: Feb 2008

If you owned a single-family house they couldn't reduce property taxes - they're already absurdly low.

Only apartment owners pay a lot of property tax - go figure.

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