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Signs of life in NYC?

? What the Federal Reserve Is Seeing |


| The Storm-Ready Home ?

October 21, 2005

Signs of life in NYC?

Amey Stone

The last time I wrote about my own real estate efforts, the entry was titled, "August Doldrums." Well, August Doldrums turned into September Deflation. Stories, like this one, told of a sudden sharp decline in Manhattan real estate prices from the second quarter to the third quarter.

Although we showed our apartment (for sale in combination with our neighbor's place) a few times the week after Labor Day, there has been zero activity since then.

Until today. Our broker called at about 11 a.m. and wanted to show it at 1 p.m. Thank goodness we held her at bay or the potential buyer would have been treated to mounds of unopened mail and half-read magazines, a fish tank without a fish, a mountain of dirty laundry, and bins overflowing with toys.

The plan now is for her to show it to two people on Monday -- giving us the weekend to restore it to the best approximation of a Zen-like quality that two adults and two children living in 1,100 square feet can manage.

Will either buyer bite? I doubt it. But at this point, even having someone take a look feels like a major improvement in the market. And, since interest in our apartment has directly paralleled the broader New York City housing market, I'm tempted to consider this a sign of an uptick. If I'm right, you heard it here first.

01:32 PM

Amey's adventures in real estate

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Many Manhattan apartments are taking much longer to sell. Hurry up and wait........

Posted by: LJ at December 13, 2005 07:52 PM

I'm a future buyer and me & my minions (the smart ones at least) are hovering over you sellers like vultures now, 'cause we whiff the sweet scent of desperation overpowering you gradually.

Remeber: We'll swoop down only once you're REALLY close to kickin' the bucket.

Posted by: Bayer B Ware at December 11, 2006 09:48 PM

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