Plenty of inventory, but how much is tempting?

No need to rush if you're looking for higher-end properties.

Appraisal executive Jonathan Miller of Miller Samuel prepared the charts above to show how long it will take at the current sales pace to run through the supply of apartments that existed at the end of February.

Assuming that a low absorption rate equates to relatively high sales activity, my takeaway is this: Continue reading

Wearing poker face is no way to buy an apartment

Mrs. Duncan's Dexter.

When I see – frequently, to be sure – the phrase “motivated seller,” I want to laugh and then weep for the pointlessness of the phrase.

Why represent a seller who isn’t motivated?  Yeah, I know, they want to test the market.  I know, too, “motivated” is just another word for “desperate.”  If they want to negotiate, just say so.  Or reduce the price to the seller’s bottom line and hold fast.

It’s a crying shame that many brokers feel that they have to resort to such obfuscatory language.

Bringing such sellers to mind is another common experience, one I had on Sunday while showing an apartment in Chelsea to a buyer whom I represent.  Continue reading