Property Grunt

Saturday, September 09, 2006

God save the queen!

This link was sent to me by master appraiser Jonathan Miller of the Matrix which is an article from The Times from England giving the run down of the Manhattan market.

Miller Samuel, a Manhattan residential real estate appraisal company, says that the number of homes on the Manhattan market — including both resale and new development — is 54 per cent higher than it was at this time last year. At that time the average Manhattan property was on the market for 102 days before it sold. Now sellers are having to wait 144 days before they get a sale and they are being forced to accept lower prices for their homes.

Miller Samuel’s figures show that the average discount from list price is now 3.5 per cent, more than double the 1.6 per cent discount seen this time last year. Real estate brokers say that sellers are much more willing to negotiate than they were a year ago.

It's not suprising that the British are interested in our arena since they are experiencing a similar situation.

The real kicker of that article was at the end where they presented a set of blogs to watch, listing the usual suspects of Curbed, the Matrix and the New York Times. But also yours truly, the Property Grunt was also mentioned.

It's these little moments that affirm my efforts and I am grateful for that. To the readers of Great Britain this is a link to my greatest hits featured on Curbed.