Weekly Roundup: Housing market news is mixed

Here’s your chance to catch up with news included to inform, enlighten and perhaps even entertain you. To read about The Big Apple, check out another of today’s three posts.

SUTTON PLACE DUPLEX IN WHICH LATE MAGAZINE MAGNATE LIVED FINALLY SELLS FOR $7 MILLION

HER SEX IN THE CITY WILL CENTER ON CENTRAL PARK WEST WHEN HER HUSBAND TAKES TIME OFF

ACTOR’S NEWLY LISTED PENTHOUSE IS PRESUMED EXPENSIVE

LATE SIDEKICK’S HOUSE IS IN FORECLOSURE, SPORTS FIGURE PLANS TO PRACTICE OUTSIDE NEW HOME, MOVIE MOGUL BUYS IN L.A.

PRICES OF U.S. OF SINGLE-FAMILY HOMES Continue reading

Advertisements

Where’s that bottom everyone is talking about?

Buyers seem not only to be looking again, but they are starting to make offers.  And the offers are less likely to be insulting than they were just a couple of months ago.  Much of the activity appears to be centered on properties listed below $1 million, though buyers at higher levels clearly are less gun-shy than they were in the recent past.

If you doubt the foregoing information, have a look at Sunday’s New York Times, which leads the Real Estate section with a long piece that has the following headline:

Bidding Wars Resume

Regular readers of this blog and my e-newsletter won’t be surprised by the news: I have been warning that such wars would reappear once there occurred a perception that the bottom was here or approaching.  (However, my timing was a bit off; I didn’t expect that change until sometime next year. In any case, I doubt the trend is widespread yet.)

Ask buyers about their renewed interest, and the answers are almost the same: Continue reading