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!
Sounds like you are very busy... because people are selling, not buying.
Also, the database does not show an accepted offer on 148 W 23rd.
If people are actually selling, then someone is buying.
Offer for 23rd Street was accepted yesterday just before post and should be updated in system at some point today.
