Brewster 2-Bedroom Reduced $6K: 2800 N. Pine Grove in Lakeview
It’s not just the penthouse in The Brewster at 2800 N. Pine Grove in Lakeview that isn’t selling.
We last chattered about this 2-bedroom remodeled unit last June.
See the pictures and our chatter here.
Since then, it has been reduced another $6,000. It also is not currently on the MLS- but it is on Craigslist.
Here’s its history:
Unit #5A: 2 bedrooms, 1 bath (listing now calls it a 1-bedroom plus den)
- Sold in March 2000 for $187,000
- Sold in August 2002 for $241,000
- Sold in May 2004 for $279,500
- Was listed in June 2008 for $275,000
- Reduced
- Currently listed at $269,000
- Assessments of $333 a month
- No w/d in the unit (but building allows it)
- No parking
- Window unit air conditioning
- Second bedroom is “open” to the rest of the unit.
- Dana Wingate at Prime Property Partners has the listing. See the craiglist ad here.
per the mls, the PH1 unit – charlie chaplin’s – went under contract Jan. 16, 09, and is now PENDing.
The pent house in under contract. The building had a special assessment that made it difficult to move units. The problem is resolved and the penthouse is under contract. It had 2 offers.
Oh Sabrina!
Second bedroom is “open” to the rest of the unit.
Glad they updated it to list it for what it really is, a 1br+den. The thing that bugs me though is the place looks nice, and then you take a look at the living room and see that in wall AC unit which looks like the crap I used in college. Its so out of place.
Anyway, I’d say these would go for 200k. No parking is a deal breaker and will only attract young first time buyers. Of which, 275 is a bit out of their price range.
Sabrina: I enjoy this site and find many of your headliners newsworthy. But a mere 2.2% price drop on a hum-drum condo is barely worth a mention at all. Find some 20% or more drops, the kind many of us are expecting, and that will stimulate some lively commentary, thanks.
Is the penthouse pending as a sale or as a rental? The reason I ask is that it was also listed as a rental unit (which makes some sense- as they were renting it out before.)
Just wondering.
If it is pending after over a year (or longer) on the market- good for them. I hope the buyer is getting a good deal on it.
The penthouse is pending as a sale: the unit went under contract on 1/16/09 with an asking price of $579,000.
Sabrina – The unit was on the market for less than 12 months. It went under contract 3 times and fell apart because of the special assessment.
Really?
Why’d they keep lowering the price then? Seems like they couldn’t sell it at that elevated price (or maybe that’s just me.)
And now “multiple bids”? Wow! It’s a real barnburning market out there in the middle of one of Chicago’s coldest winters. Had no idea that properties were in that much demand right now.
I hope the buyer realizes that in September it was listed $39,000 less than it’s listed now and wasn’t selling then.
But here’s hoping the buyer has a great buyer’s agent.
Unit #PH1: 3 bedrooms, 2 baths, 2200 square feet
Sold in June 1997 for $163,500
Sold in September 2000 for $320,000
Sold in June 2005 for $545,000
Was listed in January 2008 for $597,000
Reduced
Was listed in June 2008 for $565,000
Reduced
Was listed in September 2008 for $540,000
Sells for ?????
Oh- and Steve- it was listed on the market for less than 12 months? Oh- 11 months and 25 days then?
Pulease.
Your true colors really come out Sabrina. The property did have multiple offers. You will have to trust me on that one.
I forgot Sabrina, you are the one you thinks it will take decades before people need a home to live in again. Did you know there were 15 single family homes sold and antoher 17 that went under contract in December (lincoln park). December of 2008 was a better month than 10 of 2007 months. What do you think is going on with all this activity in LP? $1.8 million median price.
Actually the market time was a total of 203 days with much of that time priced at $665,000.
Well- more power to those who are giving multiple offers after the property has been on the market a year. Good for them.
10 mansions in LP are selling? Could it be because of PRICE REDUCTIONS Steve?
That’s all I’m seeing out there. Reductions everywhere. (unless it’s a foreclosure- and some of those are getting snapped up within hours.)
And buyers are bargaining- HARD. And they should.
VB: “Market Time” is a misnomer because they kept taking it off the market and relisting it a month or so later.
We chattered about the penthouse more than a year ago. It’s been on the market at least 12 months. At least.
Look at the post here (and it wasn’t priced anywhere close to $665k.)
It was on the market in the summer of 07 for two months at the $665 price (expired 09/07) and then listed again in May of 08 for $565. They only took it off the market for about 30 days in August. So really it took about 8 months to sell.
This is great. I went back to take a look at what is closing in LP and if they buyers were low-balling after the property sat for long periods of time.
The first property I looked at closed was 2222 n geneva. It closed last week for $2,295,000 after being on the market for 16 days. The listing price was $2,300,000 for a whopping $5,000 off listing price discount. LOL!
What are you talking about VB?
It was listed a year ago! See the link.
I’m not arguing that it’s been on and off the market- but it’s been available for more than a year. It’s not exactly a “new” listing.
When a property has been around for a year- on and off the market- it’s a stale listing and it’s all about the price.
And it’s been priced as low as $540k so I hope the buyer is getting it at least at that price (or lower) because it wasn’t selling at that price only 3 months ago (but maybe I’m missing something here.)
Maybe it’s worth “more” than September 2008 now.
We’ll see after it closes (if it does.)
The last 15 single familes in LP (4 others were new construction and were not included) sold with an avg market time of 67 days, median sales price was $1,900,000, discount off of list price was 5%.
Here is your post from above – Care to comment how in 67 days these properties reduced and reduced their listing prices? How about the huge bargains of purchasing at 95% of the ask? Your comment below is just simply your negative bias trying to create something that is not there. Honestly, read you comments and then look at the facts I have listed above. Can you just admit your post was off the mark???
“Well- more power to those who are giving multiple offers after the property has been on the market a year. Good for them.
10 mansions in LP are selling? Could it be because of PRICE REDUCTIONS Steve?
That’s all I’m seeing out there. Reductions everywhere. (unless it’s a foreclosure- and some of those are getting snapped up within hours.)
And buyers are bargaining- HARD. And they should.”
Steve: We’ve played this game before. For every property you show me that sold in 2 weeks for near its asking price, I can show you properties that have been on the market for a year (in the same price range) that are selling for under 2004 or even 2003 asking prices with numerous reductions.
And yes- in Lincoln Park.
Sabrina – I simply pulled a report of all closings in the month of January. I am not cherry picking as you do with your posts. There were 18 single family homes sold in Jan. I eliminated 4 new constrcution homes because they sold the asking price. Of the remaining 14, the units sold in an average time of 67 days for 95% of the asking price.
Again, the difference between your posts and my posts are a simple as a little fact checking. I just posted facts and you just posted opinion. I will go with the facts 🙂
Sabrina, It was not on the market from 09/07 thru 05/08. You may have chatted about it but it was not an active listing on the MLS during that time. Sorry
Don’t make me laugh.
95% of the asking price is meaningless because the agents keep taking properties off the market and re-listing at a lower price.
95% of the original asking price? 67 days from the original listing day?
Or something else Steve.
Are you speculating again Sabrina or did you verify your thoughts? Take a look at the last 18 closings and print the facts. I have not gone through and looked at each property’s listing history but I will if you would like me to. How can you run a blog where you just make stuff up? everyone knows your opinion at this point but please do realize it is JUST AN OPINION!
VB: It was available to purchase from January 2008 to January 2009.
It was all over Craigslist during that time it was “off the market” (January to May 2008)- because I did multiple posts on this unit’s price reductions during that period so I was clearly getting those reductions from somewhere.
(You can search Crib Chatter’s old posts to see the number of times I talked about this unit.)
Hate to tell you- but if you REALLY wanted to purchase this unit you had OVER a year in which to do so. And probably longer (as you said it was also listed the summer before for awhile.)
So buyers had 18 months in which to put an offer on that property.
More power to them that they’ve got a contract on it- finally. Like I said- we’ll see if it closes this time.
Steve:
You have my e-mail. It’s right on this site. E-mail me the MLS listings on all 18 of these properties and I’ll take a look.
As I’ve told you before- I’m not a real estate agent so I don’t have access to all this great data as you do.
But I’m betting I never see such an e-mail in my inbox because I know what I’ll see when I look at it.
1705 N Dayton ST – total mrt (16 days) List price ($799k) sold price ($760)
1220 w webster – total mrt (76 days) list price (1,099,000) sold price ($960,000)
2640 Wayne – total mrt (170 days) list price ($1,199,000) sold price ($1,050,000)
2637 Greenview – Total mrt time (3 days) List price ($3,000,000) sold price ($2,925,000)
Shoudl I gone on?
1705 N Dayton ST – total mrt (16 days) List price ($799k) sold price ($760)
1220 w webster – total mrt (76 days) list price (1,099,000) sold price ($960,000)
2640 Wayne – total mrt (170 days) list price ($1,199,000) sold price ($1,050,000)
2637 Greenview – Total mrt time (3 days) List price ($3,000,000) sold price ($2,925,000)
2222 Geneva – Total Market time (16 days) list price ($2,300,000) sold price $(2,295,000)
2 of the above properties were paid for in cash. Do you wantt he rest or do you get the point that you were wrong?
Shoudl I gone on?
Steve,
You missed 566 W. Arlington PL
total market time 12 Days
Original List $1,250,000
Sold $1,250,000
Closed 01/22/09
VB – I am sure it was originally listed for $5 million and has really been ont he market for 4 years 🙂
Steve– And what is up with 629 W. Shubert
Total LMT 2 days
Original List price $2,750,000
Sold Price $2,895,000
Bid War????
and how about 2017 n Magnolia.
total LMT 2 days
Original List price $3,699,000
Sold price $3,600,000
I can’t believe it took 2 whole days to sell that place. The carrying costs must have buried this owner.
Okay Sabrina, I found a property out of 18 listed for you to highlight. 2055 n Orleans was on and off the market for the past 2 years. Originally listed at $1,600,000 and finally sold for $1,200,000 a couple weeks back. You got me as 1 of the 18 properties met the criteria of your post. Cherry pick away…
I am sure the other 17 properties were for sale on Craigslist for at least two years.
Steve: My e-mail inbox is still empty.
I’m still waiting for the data…
I rest my case on this subject. Bottom line is the market is soft but not nearly as bad as the usual suspects make it sound on this board. Always remember that OWNING is always better than renting and in the long run your property should mirror inflation, give or take changes in the neighborhood. Always remeber that location is everything. This does not mean you have to buy int he best neighborhoods, but never sacrifice location for a few extra new appliances.
I rest my case too- because my inbox is STILL empty.
Sabrina – I just posted the data on the site. You have your resources so please prove me wrong if you can. Just remember that I posted the facts. Please feel free to do the same.
FYI – There is not a report that can capture marlet time on multiple listings of the same property. You can to pull a report on each property and then drill down to see the complete history. I did this on my end but I am not going to pull 18 listing histories and send them your way. Let’s assume I am right unless you can supply us with some real data.
Steve: Don’t lie. I’ve seen hundreds of MLS data listings on properties that will give me the complete market time on a listing for the last 2 years (including how many times it was listed, re-listed, cancelled, under contract etc.).
It’s not a “report” – it’s an individual listing on the property as you said. Here- there are 18. That might take you a half an hour, tops, to send me each one individually.
But the data can be easily e-mailed to me. Tipsters send me similar info all the time.
Pulease.
As I said- my inbox is still empty.
Enough said.
Sabrina,
There is a pull down menu where you can select listing & property history. This is copied from 2637 W. Arlington minus the side data that tallies the numbers and gives the closed price. There is no way to email this information directly from the MLS.
STATUS: PEND -> CLSD CLSD $3,000,000 01/07/2009
STATUS: CTG -> PEND PEND $3,000,000 11/14/2008
STATUS: NEW -> CTG CTG $3,000,000 10/16/2008
STATUS: DRF -> NEW NEW $3,000,000 10/13/2008
Pulease Sabrina (LOL) – It is your blog so do your own research. Please just note and know that you are digging yourself a big hole here. YOU ARE WRONG! when you bother to do the reasearch you will realize this.
Fact vs fiction Sabrina. You figure it out on your own.
Sabrina – Welcome to the world of being wrong. Population… you!
Sabrina, why dont you just ban this dbag? and some of the others who contribute nothing but instead jabber on with absurd boasts about their salaries, the number of trades they made, how many place in Rio they have, races they’ve slurred, lowball unrealistic offers they made etc etc?
if this guy was real he’d pony up and tell us who he is so we could go check out his miserable production numbers
CountDeMonet – So you would prefer false information to be posted over facts? Just curious why I am a dbag for posting real information and backing it up when Sabrina refers to it as “lies”.
Should we ban all truth tellers 🙂
so who are you? if you are the master realtor you claim to be put up or shut up
Count… there would be no one left. And How many places? I was moving!
Ah.. and a follow up on never living anywhere near homeless people.
Last night while taking my dogs to walk with me to pick up my wife, Three homeless came walking past and, surprisingly fast, one took a shit on the edges of the bushes next to us. Well since my mother-in-law decided to buy a car yesterday and had nowhere to put it for a day my wife offered to let her use our spot while my wifes car went to the street. Well the car was right next to the shitting incident and when I walked back 10 minutes later the car was broken into. All the better the asshole seems to think it’s funny (actually I do too) to turn on the lights after he breaks in, so not only are you with a broken into car but you can not start it the next morning either.
Ah the homeless!!!
(btw.. I at least clean up after my dogs.. he did not)
Trends are confirmed by analyzing the data, determining majority of resolution findings, and postulating a conclusion that reflects that majority of cases. Usually there is contrary data, of exceptional cases, unusual circumstances, or botched data.
Though the market price for homesales in Lincoln Park appears to have trended slightly higher in 2008 than 2007 (source: Tribune), such quick data rarely reflects accurate analysis. Market price is determined by which properties actually sold, versus number of properties listed but without sales. High-quality “value:price” homes are still selling, but that’s the exception and not the rule in current market. Most properties have flaws (dated, small, noisy, cheap finishes, no parking, high assessments, old kitchens/baths, etc), and are languishing on market. You can’t prove a “trend” wrong by identifying the exceptions to the “trend”.
And I’ll readily concede that Lincoln Park and Gold Coast are probably Chicago’s two healthiest home-sale markets at present.
Anyone see SWOP’s recent map analysis of foreclosures in southwest neighborhood by Midway Airport? Appears that their are half a dozen foreclosures PER BLOCK. Don’t doubt for a minute that the foreclosures in working-class and middle-class Chicago neighborhoods won’t ultimately affect the high-rollers in Chicago’s two strongest neighborhood markets.
Given a terrible stockmarket,don’t be surprised if high-rollers are buying homes with cash rather than remaining in investment market. This same trend occurred after 9-11’s stock crash. Many of these purchases have always been cash deals; same with high-end vacation properties. But we’re talking about housing purchased by the top 1% or 2% of market, and that doesn’t make a trend.
Sabrina, your blog is excellent, and I appreciate all your efforts in presenting a quality snapshot of Chicago residential real estate market.
Here is how I see it. I think everyone agrees that LP and GC have held up rather well to date. Going forward we can guess/speculate on a couple of ways this will play out.
1. prices come down further and the inv eventually gets cleared out.
2. government incentives give the housing market a boost and the inv gets cleared.
3. inflation runs out of control and prices double in the next 7 years.
Here is how I see it. I think everyone agrees that LP and GC have held up rather well to date. Going forward we can guess/speculate on a couple of ways this will play out.
1. prices come down further and the inv eventually gets cleared out.
2. government incentives give the housing market a boost and the inv gets cleared.
3. inflation runs out of control and prices double in the next 7 years.
Steve Heitman:
Regarding your example of 2017 Magnolia. It was originally listed in September, 2007 at $3,799,000, went pending in March, 2008 and expired October 28, 2008. It was reactivated on 12/30 and listed as closed on that same date. It is ridiculous to say that it took only two days to sell that house. (my guess – WITHOUT calling the agent – is that it was under contract since March 2008 – but there could be other things going on)
People don’t trust realtors, and this is a perfect example why. Either:
1) you didn’t look up the facts (listing history – which takes one click of the mouse) or
2) you are deliberately distorting the facts.
Either way, the consumer loses – lazy or dishonest, take your pick.
here it is, copied from mls:
Address: 2017 N MAGNOLIA ST Total Days on Market: 2
——————————————————————————–
Listing Summary Listing History
MLS No: 07098732
Cur. Status: CLSD
Type: Detached Single
List Price: $3,699,000
Orig. LP: $3,699,000
Sold Price: $3,600,988
List Date: 12/29/2008
List Agent: 125475
List Office: 12683
LMT: 2
Change Description Status Price Modified Date
STATUS: NEW -> CLSD CLSD $3,699,000 12/30/2008
STATUS: DRF -> NEW NEW $3,699,000 12/30/2008
——————————————————————————–
Listing Summary Listing History
MLS No: 06667289
Cur. Status: EXP
Type: Detached Single
List Price: $3,799,000
Orig. LP: $3,799,000
Sold Price:
List Date: 09/10/2007
List Agent: 125475
List Office: 12683
LMT: 234
Change Description Status Price Modified Date
STATUS: PEND -> EXP EXP $3,799,000 10/28/2008
STATUS: ACTV -> PEND PEND $3,799,000 03/28/2008
STATUS: PCHG -> ACTV ACTV $3,799,000 03/25/2008
STATUS: ACTV -> PCHG PCHG $3,799,000 03/19/2008
LIST_PRICE: $3,699,000 -> $3,799,000 PCHG $3,799,000 03/19/2008
STATUS: PCHG -> ACTV ACTV $3,699,000 02/10/2008
LIST_PRICE: $3,799,000 -> $3,699,000 PCHG $3,699,000 02/04/2008
STATUS: ACTV -> PCHG PCHG $3,699,000 02/04/2008
STATUS: NEW -> ACTV ACTV $3,799,000 09/16/2007
STATUS: DRF -> NEW NEW $3,799,000 09/10/2007
——————————————————————————–
*Listings that closed or went off-market prior to 01/01/2005 are not included in this report.
______
i would make that guess that it was probably under contract since end of oct. too. but that would only be a guess. 🙂
” was probably under contract since end of oct.”
You mean March, don’t you 4RE?
Also, Blockshopper has this: “4/24/2008 2017 N Magnolia Ave
Robert A Mohn bought from Gvp Magnolia Llc for $3,425,000.”
oops! yep – march. 🙂
Blockshopper confirmed. An LLC bought the property for $1.02mm in March ’04; Sold for $3,425,000 on April 17, 2008.
Recent transaction is not up yet. But, the seller owned the place for ~8 months. And probably broke even after transaction costs.
anon (tfo) – the april, 2008 transwer might not have been an “arm’s length” transaction. It looks like it was a trnasfer from an LLC and might have been for tax considerations, relocation, partnership break up, who knows what.
bb: True, true.
But if it were a LLC to a member, it would have been exempt from transfer tax and they should have used a QC. That was over $38k in transfer taxes they paid–pretty expensive if that wasn’t a real sale–they also could have used a land trust.
anon (tfo) – you def know more on this than i do!
The PIN is 14-32-134-015-0000 if anyone (I’ll try) remembers to check for the recent deed. There’s usually a few week lag.
The MLS has 23 closed sales of detached single-family residences in area 8007 Lincoln Park for 12/1/08 through 1/28/09. Of those, 12 were resales and 11 were new construction sales.
Here are those 12 resales with (orig list) and prior sale:
1705 Dayton 1/27/2009 $760,000 ($799K)
1705 Dayton 3/24/2004 $800,000
1220 WEBSTER 12/31/2008 $960,000 ($1.325M 5/21/07-11/21/07)
1220 WEBSTER 1/16/2002 $710,000
2640 Wayne 1/7/2009 $1,050,000 ($1.199M)
2640 Wayne 7/26/2002 $775,000
952 MONTANA 1/14/2009 $1,050,000 ($1.499M)
952 MONTANA 12/24/2003$1,000,000
566 ARLINGTON 1/22/2009 $1,250,000 ($1.25M)
566 ARLINGTON 5/17/2002 $470,000 Gutted 02-05
2214 RACINE 1/13/2009 $1,365,000 ($1.625M)
2214 RACINE 7/31/2007 $1,400,000
2222 GENEVA TERRACE 1/9/2009$2,295,000 ($2.3M)
2222 GENEVA TERRACE 7/11/2000$1,475,000
2040 Fremont 12/30/2008$2,635,000 ($2.839M)
2040 Fremont 4/15/2003 $1,150,000
2123 FREMONT 12/11/2008$2,675,000 ($2.8M)
2123 FREMONT 2/28/2006 $2,600,000
2637 GREENVIEW 1/6/2009 $2,925,000 ($3M)
2637 GREENVIEW 12/10/2008 $2,750,000 Likely same sale as 1/6/09
2637 GREENVIEW 3/23/1993 $650,000 Lot or tear-down
2026 KENMORE 12/22/2008 $3,400,000 ($3.995M)
2026 KENMORE AVE7/16/2007 $3,000,000
1845 Orchard 12/16/2008 $5,050,000 ($7.495M)
1845 ORCHARD 11/5/2004 $1,342,000 Lot or tear-down
G:
That con’t possibly be true–assembling that data is way too much work. You must be making it up. I’m inclined to believe Stevo’s naked assertions before anything with this much data.
Also, those 12 average 84% of ask; exclude 1845 Orchard (clear outlier in two ways) the average is just under 90% of ask.
So basically after doing my analysis I have determined that most did pretty well owning real estate. Do you guys see it any differently?
“after doing my analysis I have determined that most did pretty well owning real estate”
But you claimed specific numbers, not a general “did pretty well”. You claimed “95% of the asking price”, it’s actually 84% (I’d even give you 90%–the seller of 1845 Orchard was clearly wishing). You accused Sabrina of cherry picking and cherry picked yourself.
“So basically after doing my analysis I have determined that most did pretty well owning real estate. Do you guys see it any differently?”
Your flawed analysis showed people got homes in LP for 100k less than ask on average… and G’s showed people got homes in LP for almost 200k less than ask on average… what’s your point again?
“But you claimed specific numbers, not a general “did pretty well”. You claimed “95% of the asking price”, it’s actually 84% (I’d even give you 90%–the seller of 1845 Orchard was clearly wishing). You accused Sabrina of cherry picking and cherry picked yourself.”
I ran the Jan 2008 numbers and not the Dec 2008 numbers. Maybe that had something to do it? Moron!
Here comes the morons. Does it matter if some received a $100k off a $1 million place or a $200k discount off of a $2 million place?
Let’s again recap – I pulled all closings for Jan 2009 (the present and best indicator of what is currently happending). Moron pulled Dec closings to challenge my Jan data. Should we go back to last summer and see what was happending as well?
And again – Does it look like these people are suffering? Looks like a normal market to me. Where is the “falling off the cliff” theory?
Stevo:
G wrote: “The MLS has 23 closed sales of detached single-family residences in area 8007 Lincoln Park for 12/1/08 through 1/28/09.”
That’s December AND January. Twelve (12) re-sales in almost two months, not fourteen (14) in less than a month. Are you saying he’s lying? If so, put up the data. Without cherry picking.
It’s where the SHill started. I’ll admit he hasn’t been consistent since:
“Steve Heitman on January 28th, 2009 at 9:32 pm
Your true colors really come out Sabrina. The property did have multiple offers. You will have to trust me on that one.
I forgot Sabrina, you are the one you thinks it will take decades before people need a home to live in again. Did you know there were 15 single family homes sold and antoher 17 that went under contract in December (lincoln park). December of 2008 was a better month than 10 of 2007 months. What do you think is going on with all this activity in LP? $1.8 million median price.”
The only new construction detached single-family residence closing in area 8007 Lincoln Park for 1/1/09 through 1/28/09:
629 W Schubert 1/2/2009 $2,895,000 ($2.75M) contract 2/19/08
Cherry-picking sales in not evidence of a strong market. You need to factor in the large unsold inventory before reaching conclusions about Lincoln Park’s market strength.
“Here comes the morons. Does it matter if some received a $100k off a $1 million place or a $200k discount off of a $2 million place?”
It CERTAINLY would matter if I was the seller.
So why the 10% decrease in prices? Must have been real easy to get a jumbo loan right?
There’s no other explainable factors like massive inventory right?
The infallable LP market must just be going down because people are spending too much time listening to CNBC right?
Yeah I’m sure to a big time baller like you, 100k is nothing to lose… especially on a 5-1 leveraged asset. The only moron in here is you!
Stevo’s gone from this post. He never returns to the scene when he’s called out this much.
“Stevo’s gone from this post. He never returns to the scene when he’s called out this much.”
Exactly, its always this way when he gets interweb pwned.
He’ll come back a month later and say “oh i was so busy closing all these real estate deals” We’ll own his idiocy again, and the cycle repeats itself.
“G on January 29th, 2009 at 1:06 pm
The only new construction detached single-family residence closing in area 8007 Lincoln Park for 1/1/09 through 1/28/09:
629 W Schubert 1/2/2009 $2,895,000 ($2.75M) contract 2/19/08
”
Hey G – There were 6 properties on Hartland that closed in January. These were the properties I excluded from my data. Go aherad and add them into the equation. Each of the 6 closed above the asking price.
Let’s recap – There were 18 closing in January 2009 and 7 of the properties were new constrcution. The remaining closed at 94% of the asking price (this down from the 95% I posted last night – last night i included the schubert property. Today I realize it is new construction). These 11 properties closed after being listed for 73 days according to the MLS.
What am I supposed to be defending? The whooping I laid on Sabrina last night through our posts? Let me know…
“There were 18 single family homes sold in Jan. I eliminated 4 new constrcution homes because they sold the asking price. Of the remaining 14, the units sold in an average time of 67 days for 95% of the asking price.”
“There were 18 closing in January 2009 and 7 of the properties were new constrcution. The remaining closed at 94% of the asking price …. These 11 properties closed after being listed for 73 days according to the MLS.”
11. 14. Close enough, right? MORON.
The Hartland properties closed in December.
“I eliminated 4 new constrcution homes because they sold the asking price.”
“There were 6 properties on Hartland that closed in January. These were the properties I excluded from my data. … Each of the 6 closed above the asking price.
6. 4. Close enough, right? MORON.
“Each of the 6 closed above the asking price.”
Data? Don’t forget the contract dates.
“Data? Don’t forget the contract dates.”
With his demonstrated attention to detail*, I wouldn’t rely on anything he does post–not that he will.
*yes, I know it’s just the ‘tubez and typos are to be expected. But you can’t brag about your knowledge, belittle others for their lack of knowledge and consistently screw up your facts and then blame it on typos.
Wow we are going to need a prybar to unbunch everyone’s panties. Hopefully Sabrina will post a bunch of crappy properties so everyone can continue their doom and gloom circle jerk.
Heck yea Burt!
Oh your appraisal didn’t come in at the right number for the HELOC you were counting on to sustain your lifestyle? LOL!
My mom’s basement has phat equity! HELOC. Haha. Amateurs.