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Below 2005 Prices on Open House

Started by nyc10022
about 17 years ago
Posts: 9868
Member since: Aug 2008
Discussion about
watched a couple of the Open House NYC episodes I had taped in a row. Watch watching that multiple estimate segment. Just noticed that 3 buyers in a row bought in 2005. Two renovated. 2 were given broker estimates less than their 2005 price, and the third with renovations, was just about a breakeven.... and a loss with interest.
Response by feingirl
about 17 years ago
Posts: 18
Member since: Mar 2009

Yes, 2005 prices are back.

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Response by jlnyc50
about 17 years ago
Posts: 77
Member since: Jan 2009

what were the property addresses???

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Response by bronxboy
about 17 years ago
Posts: 446
Member since: Feb 2009

Soon we will be back to 2003 and earlier.

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Response by stevejhx
about 17 years ago
Posts: 12656
Member since: Feb 2008

It only took a year for people to start to agree with me!

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Response by starfish
about 17 years ago
Posts: 249
Member since: Jul 2007

And for the record, I am now predicting that prices will go up - someday. So when that happens, be it 1 year from now or 5 years from now, I will be able to post like stevejhx. Please check back when that happens to see my post that will say "it only took __ year(s) for people to start to agree with me!" Useless...

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Response by nyc10022
about 17 years ago
Posts: 9868
Member since: Aug 2008

They don't give the addresses on those segments, for some reason. Hell, they didn't even name the neighborhood on one of 'em.

I'm not taking this as a quantatative thing, more just interesting that multiple brokers are setting prices at 2004 or so levels.

Barbara Corcoran also suggested something like 15% below the other brokers to "catch interest".

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