3055 open houses 10/24/10

It sure is. I'm just surprised that you're the one trumpeting the turnaround.

It appears that you've left the sideline.

Lol! Nice zinger cc. :)

You'll have to forgive me. I'm acluistic, remember?

i don't have your fancy vocabulary.

you're full of shit, thats for sure.

come and get em---plenty here for the feastin'

How many apartments are there in manhattan?

How much gold is there on the planet? Who the f'k cares, it's the last trade that counts.

For the bulls. If you expect prices to increase later, wouldn't there be less open houses less inventory as ppl pull to sell later?

Number of open houses means nothing if there are enough buyers, and/or the sellers dont lower their prices.

But everuthing you post makes sense. We just spent three years recovering from a financial meltfown, and prices are nowhere near where you think they will be. Unemployement in the city is decreasing, and business activity is picking up . Yet you still think we are going down another 50%. But hey, if i lived with my parents, i too would be hoping for a crash.

w67thstreet, how much can you squat?

spent three years recovering?

meltdown was two years ago, not three.

what is your definition of recovering? unemployment in the city is down? according to whom?

who said we're going down another 50%?

columbiacounty, have you ever smiled?

Cc, why do u stick up for 67? He has a fat enough fucking mouth for himself, don't you think?

Lehman was 2 years ago. There were problems going back to 2007.

I would call an increase in prices and activity a recovery.

http://www.crainsnewyork.com/article/20101021/FREE/101029959

W67 keeps talking about $500 sq ft. That would be about 50% from todays prices.

I would also call this a recovery

http://www.crainsnewyork.com/article/20101019/FREE/101019849

If cc didn't stick up for 67, he'd have no one. Aboutready is gone, and apt23 has gone acluistic and started talking to Riversider. Columbiacounty doesn't have anything of personal worth or pride.

Does that answer your question?

Hey jimnutz, is your wife hard at work on the financial aid pacs for your daughter as you bus it to work with Oliver ppl glasses on?

Erktash. Apparently my $500 psf came with a 10/23/10 expiration date on it. Flmazo. Keep your eyes on the mortgage put backs. That's gonna be 'documentary' movie making worthy. Did everyone that applied for a $1mm mortgage in 2005-2007 all of a sudden get $500k salaries? Or was it a concerted effort by mortgage brokers and bankers adding an extra digit to 'stated income'. What do YOU think? Flmaoz. Do you think OUR credit crisis was OVER? Flmaoz. I'd bet 1/2 of all loans originated in 2005-2007 were bullshit loans where serious fraud either by applicants and/or mortgage industry turned a blind eye. Just imagine what will happen when that dam bursts? Flmaoz. I'm getting more popcorn this movie is gonna be so so so good.

67, my daughter is a year old. you seem awfully impressed with both my choices in eyewear and transportation to work. what gives?

for 67:

Street Fact
Manhattan Condo Listings Snapshot
Size (ft²) $ per ft² Price
Studio 532 1,024 530,000
1 BR 779 1,074 837,250
2 BR 1,281 1,206 1,582,500
3 BR 1,974 1,419 2,925,000
4+ BR 3,100 1,635 5,047,500

what happened to 500 a foot, genius? i know, any day now right? i'm planning my open house schedule tomorrow for a 2/2 on the east side (below 60th st) but i guess that's cause my finances aren't as restrictive as your's. keep hoping buddy.

You are absolutely right, and you will be able to get that 2 bedroom in phoenix for 97k. Unfortunetly for you, everything you just wrote has no bearing in manhattan. If for nothing else than the way coops operate. They would never allow for such loans. And i know what your come back will be. The banks stand to lose if this goes down. Guess what will happen if they lose a lot of money? Govt will print some more and bail them out. That movie has already been release. In fact, its already on dvd. Hope you had butter with your popcorn. Its so so so good. Flmaoz.

jim_hones10
6 minutes ago
stop ignoring this person
report abuse
67, my daughter is a year old. you seem awfully impressed with both my choices in eyewear and transportation to work. what gives?

uh, given a choice of all the people and things you mentioned in your post, I would be least worried about w67th's obsession with the eyewear and transportation

maybe boating and expensive wrist watches and stupid flashy car purchases have comprimised your families purchasing power to the point where all you can do IS HOPE AND PRAY to be able to get into the game. poor choices will do that.

Don't worry, he has next years' tax returns to be creative with:
http://streeteasy.com/nyc/talk/discussion/18080-its-official-the-irs-are-morons

are expensive boats and cars and wristwatches counted as depreciating assets by the gov?

Jimnutz. Go you! Love the stats. Let's see might your stats contain the very 3k listings that are so overpriced that they need to have well 3k open houses every weekend? Or Lordy, you can't make this up. Did the 4% mortgage finally get you off the sideline? Geitner, you got another live one! Reel em in.

Erktashie, no worries. Nothing outside nyc matters to nyc re. Co-op force field ON! - sci fi force shield wobbling mechanical noise-

Btw in the crash of 1989 to 1997 there were NO coops in nyc re. More butter please. Hahahhahhahahaaa. Ooooooohjjjjhhhhhh I gotta pee. Picture it, unzipped, penis plops out, don't look at the one white pubic hair on the right nut sack, relieve myself. Okay back on keyboard.

it's more the 7 apartments i've sold in the last 8 months OVER the asking price that have convinced me that there is no time like the present. i've got this market sorted, at least in the areas i focus on. i know what's priced well and what isn't in the areas im interested in. and a lease that will expire in march.

We didnt have a mortgage crisis in the 90s. I was just answering your post regarding the current situation, and why what you wrote doesnt really apply to ny. Maybe you had too much butter. Fatty foods can f*ck with your mind.

Time for a beer

If you want to be a financial retard go you. Just a note about the stats. 3bdrm + are down 50% from peak, the asks have barely budged. Might the 'bargains' that you see a reflection of a crazy ask on 99% of stale inventory. And what might happen if said 99% gets religion and starts to sell at 'bargain - 5%' prices? Think it thru, you're smart enough to get on the right bus. Hahahhhahhaahhaaaaaaa

i don't give a shit about 3 bedroom apartments. how much of the inventory in manhattan do you think they represent? a small percentage. i care about what i'm looking for. i don't look at stale inventory, i'm far more versed in the part of the market i'm interested in than you could ever hope to be in yours. i know what i'm doing, it pays my bills. your stupid, your focus is narrow, and you're a cocksucker. go try and bang your frigid wife. leave this board.

Uh, just a bit of correction jimhones, w67thstreet has previously announced on streeteasy that his wife has been touched by thousands of people. Now, he's never clarified if we are talking about 3,000 or 990,000, but even if it were 3,000, I'm not sure you can call her frigid.

Yes. A rental agent knows what he is doing. I didnt realize having automatic pay switched on makes you a financial genius. Please go on, the learned one.

Good luck on your buy! I hope you get it.

Are you naked?

(sigh)....rentals/sales, i've done them all. recently switched firms, took a promotion and now manage an office with 160 agents. nice salary. great bonus structure. still get to keep any active sale listings i have. have an agreement with a couple of senior agents so when i bring a new sales exclusive, i give it to them and get a nice referral fee. have a coulple of deals still in contract from pre-promotion days. a few landlords that i still get "account management fees" from, to use laypersons terms. The wife has been promoted in the last year and will probably get a bonus twice the size of the last one! Last piece of the puzzle is actually owning where we live, and wondering what nursery school my kid will go to in two years. the nanny will have to bunk with her, no help for that, and it does make the search a bit more difficult, as en suite facilities for the master bedroom are now not a luxury, but a must. We're both from middle class backgrounds, albeit from different countries, but a classic 6 is not in the cards just yet, and a 3rd bedroom for hired help isn't happening.

Wow, all that and you don't spend time naked around children. Interesting. I thought, based on all of w 67's boasts, that smarts and success = naked around children.

only if you're a perverted success.

pretty soon cc is going to weigh in and tell us we are the same person

yes we are NYCMatt

alright. Next time I need to fill out a rental app I'll give you call.

On your application, rmmeber to acknowledge that you didn't pay your last month's rent with a previous landlord.

m'okay queenie

m'okay naked around children

West 67 - love the "Nothing outside nyc matters to nyc re. Co-op force field ON! - sci fi force shield wobbling mechanical noise- " comment! This is right after reading a story of Timmy being called out on US currency manipulations by other countries over at Zero Hedge (what a f'ing hypocrite trying to brand the chinese as bad guy "currency manipulators" on this one when the US is right up there desperately trying to turn dollars into trash). Two belly laughs in one night!

Anyway, its always good to get a few giggles these days anywhere I can get them. Thanks

Yes, W67, you're in top form tonight, yer givin' me the giggles, but, wish I could erase the image of yr plopping peenie.

w67thstreet
about 1 hour ago
ignore this person
report abuse alright. Next time I need to fill out a rental app I'll give you call.

sure, in feb 2011 or so, when you're stil waiting in vain for those 500 per foot prices you've been clamoring for since 2009. i'll refer you to one of my top agents. just make sure you're willing to pay the standard 15% of annual rent brokerage commission ok? even if it means selling your rowboat, or having your wife take some medicare work on.

anybody knows what used to be the normal level of open houses? otherwise, 3k doesn't mean much to me

* for those who don't follow the trend, whatever it is, what is the trend?....if open houses trending up,is that necessarily bad omen for prices?....

* it occcurrs to me that, whatever it means, open houses could be a more interesting indicator than inventory which has issues about staleness, seriousness of seller, inaccurate data, etc.; i.e., generally speaking, if the home is open then someone really is trying to sell an apartment now.......

* how new dev. list open houses has a pretty big impact i suppose...some buldings seem to list all the units and others list just a ample but acutally are showing whatever you want to see........

w67th, loved the "Co-op force field ON!" comment.

re: unemployment - NYC unemployment is currently at 9.3%

"...the professional and business services sector, which has been a strong performer all year, suffered its biggest September decline since at least 1990. Leisure and hospitality also lost jobs in September; a poor start to what is usually its strongest time of year."

http://www.labor.state.ny.us/stats/nyc/index.shtm

On the positive side, the unemployment rate did drop from 10.3% down to current 9.3%. However, getting down to 8.3% and below is really key for RE market IMO. The next 1% down will be long and bumpy...

My company had cuts this month with plans to cut more next month.

Lobster. When I levitate, I just know I am levitating. I may not know how high I am, but I know I am levitating.

Dwell, it was a very short bathroom break. It wasn't out there flopping around for long. :) just imagine me in spidey underwear, much better.

Invisible cloak, ON!

Later.

My bad. Mixed up crustacean with notadmin. Sorry lobster.

Examine the impregnable dynamic that is Manhattan RE. An animal so different than all others that it operates by a mechanism unique to itself. I hate to steal a line but, FLMAO! Sure, the valuation is higher and the modulation of the amplitude is less but the rules are the same everywhere. Supply and demand run the show. They are tethered together by a slinky so their tandem movement is not so obvious until you examine a graph over time. So this is what I know. 1. supply is high. 2. demand is low 3. interest rates are historically low. Short term economic outlook is mired in doubt. Where does this market have to go? Valuations will have to change. How they change is the question. 20% down is my call. Over what time period I can not tell.

Jump with me for a moment into my time travel machine to Tokyo circa 1991. We are apartment shopping. We buy a small two bedroom but we tell ourselves that the RE is an amazing deal compared to 1988 and within two years we will be trading up for a phatty apartment. Now back in the machine and back to the future! Still living in the same apartment in Tokyo...still has not retained it value. The year is 2010.

Today we purchase a 2 bedroom in Manhattan which is considerably off the highs of 2007. What a deal, we tell ourselves. Back in the time travel machine to 1989. We are at a gentleman’s club on 22nd street. The name of the club is Private Eyes. I’m buying lap dances for everyone! This has nothing to do with real estate but, as you know, all work and no play makes falco a dull boy.

So we never learned how many "thousands of people touched [your] wife". Is it more than the number of open houses today?