Three studios plus two prices equal one question

First-floor co-op on a corner of Amsterdam Avenue in the 90s.

A 1941 co-op building on a corner of Amsterdam Avenue in the low 90s of Manhattan’s Upper West Side has not one or two, but three studio apartments on the market at the same time. And, though they are profoundly similar, two of them went on the market at $50,000 more than the third one .

First, the less expensive one. It is on a high first floor with decent, though hardly bright, light. The kitchen has been attractively modernized, the bath has been updated with re-glazed bath and wall tiles, there is fresh paint, the hardwood floors are pristine, new sliding French doors demarcate the sleeping alcove, and the amount of closet space is extravagant.

The 500-sf unit is listed at $349,900, and it received an adequate offer within a couple of weeks. Continue reading

Up 18% in a year, foreclosures fall 8% in a month

RealtyTrac reports that there were 306,627 default notices, scheduled foreclosure auctions and bank repossessions involving U.S. properties during November, a decrease of nearly 8 percent from October but still up 18 percent from November 2008.

The report also shows one in every 417 U.S. housing units received a foreclosure filing in November. Continue reading