Price changes
Started by dco
over 17 years ago
Posts: 1319
Member since: Mar 2008
Discussion about
Keep your eyes on the sectionof this site labeled as Popular Searches. Look at the section for RECENT PRICE CHANGES IN MANHATTAN AND BROOKLYN. I have been watching it for about 2 weeks or so. I have started to see much larger numbers of units with price decreases. This tracks price adjustments made in less than 2 day period. It's very interesting to see how it moves. It tends to give you a good feeling of how owners feel about there listed priceses.
Interesting, yes, but always to be taken with a grain of salt. Asking prices are basically a marketing tool. Apartments may sell above or below those prices. A price cut may only indicate a shift in a broker's strategy for a unit, or in his/her ability to set the seller's expectations more realistically.
Asking prices that are substantially below year-ago comps might indicate a real market downturn. Asking prices that are simply reduced from some previous, apirational level are open to various interpretations.
Also, one broker on elliman is notorious for moving prices both up and down ~2-5% every other week to generate notice. I'll let you figure which broker.
If the manipulation is being done to game the streeteasy listing system, I believe streeteasy would contact the broker to address the issue if you sent the site a message buster2056. On the two or three occasions I've come across someone gumming up the works of this site and told streeteasy, they unfailingly responded to me by email that they would look into the issue and then followed up with the outcome of their investigation. This site can only remain the invaluable resource it is becoming if the integrity of the information it provides is protected. The administrators seem to realize this. Let them know.
Yes, that broker is Darren Sukenik. $+/- 5000. There is nothing wrong with aggressive marketing. What he is doing is no different than the guy working for the parking lot company who stands in the street and waives his flag to get drivers' attention vs. just having a static sign.
Verain, who are you to excuse this practice by self-defining it at mere "aggressive marketing?" Who made you the arbiter of acceptable RE business practices? Over and over you reveal yourself to be an apologist for all that saps the professionalism of the NYC RE market. Good business isn't fooling people or gaming systems. You're contempt for consumers is obnoxious.
I don't really disagree with you, verain, and if I were selling through him, I might even appreciate the tactic. My point was not to tattle or complain, but to caveat the data. Streeteasy has a pretty easy control, though - just search for price changes above a percentage threshold.
Kyle, why is this a practice that needs excusing? Why are you entitled to anything as the non-owner of the information?
No one is fooled. The price of the apartment is the price at which it is advertised. Real estate and real property are tangible items that can be diligenced relatively easy by any purchaser, both in the physical sense and then through title searches and property records.
Buster - you are entitled to caveat the data absolutely.
sukenik = sux
I remember when Darren Sukenik used to post "Darren Sukenik=SOLD" all over Curbed. It was so cheesy, I thought someone really had it in for the guy. Then I realized, Oh My God, he's doing it himself.