I knew I had something scheduled for this morning: the appearance of NAR’s economist at the Milbrook Club. I was off showing a house and completely forgot it. Was anyone there who took notes?
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Word is he took a helicopter over to Riverside and OG to tour good news in real estate (where prices have receded the least and the market is most active) and then concluded that the rest of the northeast must be doing equally as well.
For a dead market, you sure are out showing a lot! :)
Peg, the frustration I’m suffering is that I have maybe 6, 7 serious buyers with serious money: $2.5 – $10 million, but sellers seem out of touch with what’s going on or are content to wait until 2025 for the market to “recover”. I’m not talking bottom feeding, but sellers seem determined to recapture 2008 prices, and that’s just not going to happen -not now, anyway.
Chris, if it’s any comfort, it’s not just Greenwich. As recent buyer over in flyover country I was just amazed at what people wanted, it’s like the last 3 years hadn’t happened.
I’d walk into places with my agent, and walk right out, or drive right on. The asking prices weren’t even within negotiation range of reality.
I guess all that money they asked your Realtor buddies to pay helped pay for the speaker’s helicopter rental. Sounds like he was from the DC headquarters office. The recession doesn’t seem to have affected Washington. It’s booming. They don’t know what the word recession means.
Chris, knock a zero off the end, and that is what I am facing in Minneesohta.
Quite difficult to communicate to sellers what the real story is today about
values – and – in my opinion, that it will not change dramatically for the better quickly. The only ones “getting it” are the short sale sellers. And, that is a different and quite sad story…..
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