TW: We lived in Manhattan for three years, awed the entire time by the real estate pricing and annoyed to the point of disgust by realtors who felt we were so blessed to have the opportunity to grace their beloved island (after all we were mere refugees from the wilds of Chicago). The only positive I relish in this whole mess is many of those folks taking a bath. But dagnamit it still ain't happenin'....
From the True Gotham Blog of a NYC realtor:
"Making Sense of Manhattan Real Estate
The Bailout plan has been rejected (via WSJ) and it's no surprise that the stock market has plummeted on the news. So why am I still so busy? I can't answer that except by updating my current transaction activity (by current, I mean last 48 hours):
Accepted offer for 148 West 23rd Street, 11H
Multiple offers being negotiated for 88 Jane Street, 3W after 3 days on market
35 people showed for open house yesterday at 215 West 75th Street, 9C after 10% price drop and offers expected today. Price indeed overcomes all objections!
Phones ringing with appointment requests for other exclusive properties that I'm representing.
Appointments being scheduled for buyer property tours later in the week.
This is truly the most bizarre environment that I have experienced in my 16 years in the Manhattan real estate industry. I know for certain that I will likely be attacked for reporting how busy I am but it is what it is.
I leave you with the most frequent comment from open house visitors who attended my 5 open houses yesterday:
"We don't care what is going on, we need a place to live."
So with that, I'm going to make hay...and stash it in my mattress!"
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