It has been a while since our last post here on the Marketwire but to be honest there is only so much time in the day and with the hope that this blog stays interesting to our followers we’d rather say nothing than fill it with nothing.
First a quick rental review. As expected the rental market this year continues to outperform last year’s. In a nutshell the days of pricing erosion are over following the overall reset in asset prices that started in 2008. And while prices are no longer going down, neither are they going up. There is, however, elasticity at the higher end of the market where we see some discounting from ask. The mid market (between $30,000 and $60,000 for the traditional MD-LD season) has seen good demand, good absorption, and steady pricing.
The New York Times published it’s market overview this weekend and here is the link. Of course all the sex appeal is in the high end, but candidly most of the action is elsewhere. Especially so on the re-sale side where appropriately priced properties that come to market under $1,000,000 seem to be finding a steady supply of buyers.
So as not to risk becoming longwinded here are two recent news items about things that you can’t make up…
The seller who refuses to leave her house, read a brief news report here.
And, we like this one, but pity the agent who did the deal. How was he to know? A problem that sometimes arises. Please read our July 16, 2012 post.