Majority of Recorded Sales Never Listed on StreetEasy?
Started by kgg
almost 18 years ago
Posts: 404
Member since: Nov 2007
Discussion about
Was checking recorded sales over the last 60 days focusing on the Upper West Side where I currently live and found the vast majority of sales were never listed or at least not listed on StreetEasy or the firms that are listed on the site. Many of the properties sold that are documented have sold for less than what one might belive is the market rate and/or have sold for a significant discount (10%... [more]
Was checking recorded sales over the last 60 days focusing on the Upper West Side where I currently live and found the vast majority of sales were never listed or at least not listed on StreetEasy or the firms that are listed on the site. Many of the properties sold that are documented have sold for less than what one might belive is the market rate and/or have sold for a significant discount (10% or more) relative to the asking price.
In addition, there are properties that have sold for marginal sums.
For example:
170 West End Avenue #R18 $75,000 on 03/27/2008.
49 West 72nd Street #12ST $29,817 on 03/19/2008.
Are these insider deals, estate sales, sales to family members?
And where are all of the never listed listings coming from?
Any thoughts appreciated.
Any thoughts?
[less]
Response by kgg
almost 18 years ago
Posts: 404
Member since: Nov 2007
Would like to ammend the question above since it appears that those "cheap" sales are storage units.
My bad.
However, still wondering where all of the never listed listings are coming from?
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Response by West81st
almost 18 years ago
Posts: 5564
Member since: Jan 2008
REBNY propaganda notwithstanding, it is legal to sell a condo or coop in NYC without involving a licensed broker.
Consider this, kgg. Haven't you ever visited a friend, liked their place, and said, "If anything opens up in the building, please let me know." That's how a lot of deals happen: word of mouth, tips from doormen and supers, that kind of thing. Then there are the family deals and other non-arms-length transactions.
Plus, maybe sometimes the feeds just don't work perfectly.
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Response by tenemental
almost 18 years ago
Posts: 1282
Member since: Sep 2007
kgg, I've wanted to ask this question for a while, too.
Some of the sales are FSBOs, so they never had a Street Easy listing, or if they did, is was with a non-exclusive broker fishing for buyers and there was no address listed. I've noticed others that were with smaller brokers who don't list with StreetEasy, but were in the NY Times. You can Google the address and sometimes find the listing. Lastly, I have seen sales that got "disconnected" from the original StreetEasy listing, because the unit numbers were not included on StreetEasy. If you click through to the broker's listing (Corcoran listings seem to stay on forever with the fiancials removed) you'll see the apt # there and make the connection.
West81st's point about insider deals I'm sure accounts for most of the rest, but damn, there sure are a lot of sales like that.
Anyone else have another idea?
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Response by KISS
almost 18 years ago
Posts: 303
Member since: Mar 2008
I mentioned on another thread that I have found properties searching via nytimes.com that were not listed here. And this was from a major brokerage that does list properties on both sites.
Would like to ammend the question above since it appears that those "cheap" sales are storage units.
My bad.
However, still wondering where all of the never listed listings are coming from?
REBNY propaganda notwithstanding, it is legal to sell a condo or coop in NYC without involving a licensed broker.
Consider this, kgg. Haven't you ever visited a friend, liked their place, and said, "If anything opens up in the building, please let me know." That's how a lot of deals happen: word of mouth, tips from doormen and supers, that kind of thing. Then there are the family deals and other non-arms-length transactions.
Plus, maybe sometimes the feeds just don't work perfectly.
kgg, I've wanted to ask this question for a while, too.
Some of the sales are FSBOs, so they never had a Street Easy listing, or if they did, is was with a non-exclusive broker fishing for buyers and there was no address listed. I've noticed others that were with smaller brokers who don't list with StreetEasy, but were in the NY Times. You can Google the address and sometimes find the listing. Lastly, I have seen sales that got "disconnected" from the original StreetEasy listing, because the unit numbers were not included on StreetEasy. If you click through to the broker's listing (Corcoran listings seem to stay on forever with the fiancials removed) you'll see the apt # there and make the connection.
West81st's point about insider deals I'm sure accounts for most of the rest, but damn, there sure are a lot of sales like that.
Anyone else have another idea?
I mentioned on another thread that I have found properties searching via nytimes.com that were not listed here. And this was from a major brokerage that does list properties on both sites.