As someone watching the UWS market right now for 3 bedrooms, I found it interesting that there are two renovated 3 bedrooms for sale by owner. For those watching the market for a long period, is that normal or is this a new trend as a result of streeteasy. If it has been common for some time, how do you find the pricing of sale by owners versus those represented by a broker? Are there any... [more]
Generally, FSBO listings have inflated asking prices due to the fact that owners, inevitably, have an emotional attachment to their respective homes, especially if they have done extensive renovations. When brokers are involved, they educate their sellers and identify whether the owner needs to sell or wants to sell, then based on the comps, lists at the most feasible price.
For example, the 401 West End Ave unit was on the market in 2008 for $1.7 listed by a broker and now the owner is asking $1.75. It is not as if the market has improved tremendously over the past 3 years. In fact, the average listing price and final sale price has decreased over %12 since then. These are my initial thoughts but of course it is a bit more complex than this and requires further evaluation.
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Response by ph41
over 14 years ago
Posts: 3390
Member since: Feb 2008
610 WEA - highly aspirational, as they couldn't sell at peak in 2008 for this price.
401 WEA - again, aspirational, as there are some fabulous apartments selling for high prices in the building - just, this isn't one of them.
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Response by w67thstreet
over 14 years ago
Posts: 9003
Member since: Dec 2008
FSBO, the "oops, I missed my boat to sell, can I save 6% at least" fktards.
These are the turds that 6% of $3MM means the difference btwn cat food and steak. Fk them. Let them flail about like a hooker wo a Pimp.
Greedy turds, want more than the greatest bubble in NYC has ever provided. IMHO, they'd be better off pretending to be a straight sale and get outta dodge.
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Response by West81st
over 14 years ago
Posts: 5564
Member since: Jan 2008
On the other hand, I've seen FSBOs that were better-priced and better-managed than a lot of broker sales. Recent examples include 895 WEA #12A and 411 WEA #19B.
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Response by front_porch
over 14 years ago
Posts: 5316
Member since: Mar 2008
I think the generalization to be made is that there are a lot of potential buyers chasing too few properties in that niche (3BR UWS) so the well-priced inventory moves quickly, whether it's broker-represented or seller-represented.
ali r.
DG Neary Realty
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Response by streetsmart
over 14 years ago
Posts: 883
Member since: Apr 2009
I saw 610 West End Ave. It was on the second floor and you had to walk the staircase to access the apartment. Not sure if I couldhave taken the elevator. Anyone familiar with this apartment? Can one take the elevator to it?
Don't think it's worth the asking price. But it was a very good renovation.
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Response by Bill7284
over 14 years ago
Posts: 631
Member since: Feb 2009
OK, 401 WEA has a chance. Quite tasteful. A couple with a small child and stroller to negotiate, great. Great hood with the park accross the street. Broadway one block in the other direction. Living room is small which is how they got three bedrooms, but that's just me. Here's the corker, this is the time of year to trot this out. A bit pricey, but for this market not always a problem. It is imperative that the lower priced market be right on target, but this market, probably will sell at $1,650,000 and that's all right. For this market.
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Generally, FSBO listings have inflated asking prices due to the fact that owners, inevitably, have an emotional attachment to their respective homes, especially if they have done extensive renovations. When brokers are involved, they educate their sellers and identify whether the owner needs to sell or wants to sell, then based on the comps, lists at the most feasible price.
For example, the 401 West End Ave unit was on the market in 2008 for $1.7 listed by a broker and now the owner is asking $1.75. It is not as if the market has improved tremendously over the past 3 years. In fact, the average listing price and final sale price has decreased over %12 since then. These are my initial thoughts but of course it is a bit more complex than this and requires further evaluation.
610 WEA - highly aspirational, as they couldn't sell at peak in 2008 for this price.
401 WEA - again, aspirational, as there are some fabulous apartments selling for high prices in the building - just, this isn't one of them.
FSBO, the "oops, I missed my boat to sell, can I save 6% at least" fktards.
These are the turds that 6% of $3MM means the difference btwn cat food and steak. Fk them. Let them flail about like a hooker wo a Pimp.
Greedy turds, want more than the greatest bubble in NYC has ever provided. IMHO, they'd be better off pretending to be a straight sale and get outta dodge.
On the other hand, I've seen FSBOs that were better-priced and better-managed than a lot of broker sales. Recent examples include 895 WEA #12A and 411 WEA #19B.
I think the generalization to be made is that there are a lot of potential buyers chasing too few properties in that niche (3BR UWS) so the well-priced inventory moves quickly, whether it's broker-represented or seller-represented.
ali r.
DG Neary Realty
I saw 610 West End Ave. It was on the second floor and you had to walk the staircase to access the apartment. Not sure if I couldhave taken the elevator. Anyone familiar with this apartment? Can one take the elevator to it?
Don't think it's worth the asking price. But it was a very good renovation.
OK, 401 WEA has a chance. Quite tasteful. A couple with a small child and stroller to negotiate, great. Great hood with the park accross the street. Broadway one block in the other direction. Living room is small which is how they got three bedrooms, but that's just me. Here's the corker, this is the time of year to trot this out. A bit pricey, but for this market not always a problem. It is imperative that the lower priced market be right on target, but this market, probably will sell at $1,650,000 and that's all right. For this market.