Home Buying in 11201>Question Details

Naomi, Home Buyer in New York, NY

What is the average difference between asking price and selling price for Cobble Hill/Brooklyn Heights?

Asked by Naomi, New York, NY Fri Jul 6, 2012

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Naomi , there really isn't a formula for the price value to a property on the market. The best way to figure it out is research . Keep a journal on the properties you see . write notes on likes and dislikes as well as asking price. Compare them and keep track of their action. Also you can search websites like http://www.trulia.com for sold properties in the area. This will give you a general idea of market value. Don't forget things like location, condition, square footage all make up value. Whether a property is listed high or low does not determine value. I know bla bla bla ! But the idea is to get a fair price on a home you like or love. And the true appraised value will come through the bank when going for the mortgage. Good house hunting Naomi I hope this helps. If you need assistants finding a home you love call me anytime.
1 vote Thank Flag Link Sun Jul 8, 2012
Dear Naomi:

According to Brooklyn New York Multiple Listing Service the average difference in listing price to selling price in Cobble Hill and Brooklyn Heights for 2012 year to date is about 6.5%. Keep in mind that all deals are different and this is just based on averages. There are still some properties that sell for the full price and I have also seen some lately that have sold for a 30% discount off the asking price. It all depends on how motivated the seller and/or buyer is and how properly priced the property is when it is placed on the market to begin with.

If I can be of further assistance please let me know. Good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
1 vote Thank Flag Link Sat Jul 7, 2012
No one ever buys at the listed price... It's usually less. How much less depends on the neighborhood average. If you need a Comparative Market Analysis on a certain property, email or call me anytime! I work with alot of properties in the Brooklyn Heights/Cobble hill area

Luke Constantino
Commercial | Residential
REMAX PARK SLOPE
Direct: (212) 300-3919
Lukeconstantino@remax.net
1 vote Thank Flag Link Sat Jul 7, 2012
Sometimes very dramatic, other times insignificant. As Ms. Brocco mentioned, this really depends on the property's location, features, etc... Your broker should be able to run a good CMA for any specific property you may be considering.

Enjoy the hunt for the right space!

Aleksandra Scepanovic, ascepanovic@idealpropertiesgroup.com, 347.227.8998
1 vote Thank Flag Link Sat Jul 7, 2012
Keep in mind that the difference does vary based on exact location, size, condition, etc.
1 vote Thank Flag Link Sat Jul 7, 2012
Hi Naomi - there is no right answer to that. asking is what they want and selling is what you are
willing to pay. sometimes they actually sell for over asking. location, condition, desire, need all
play a part of your decision. I can only suggest that you go view what you like, and make your
best and highest offer. if they accept it great if not, and its not worth anymore to you, well then
we just move on. If there are some particular listings you are interested in, email them to me
and i will check them out for comps to see if they are in the right ballpark, but again, its the meeting
of the two minds.
madelinepadovano@fillmore.com
718-332-8800
1 vote Thank Flag Link Fri Jul 6, 2012
I’m an agent working for ReMax NYC Midtown and I’m always doing my research on property and stay in touch with the best professionals. If you simply need advice please email me at KDrake@remaxnyc.com. I'm experienced with closing deals with rentals in the 11201 zip code. I’ve provided links below regarding any concern you may have.

Finance Advice:
http://www.fpanet.org/LifeGoals/BuyingaHome/

Bank Expertise:
David.Axelrod@bankofAmerica.com

Legal Advice:
http://www.lawhelpmn.org/issues/housing/buying-and-owning-a-…

Advice for Buyers:
http://portal.hud.gov/hudportal/HUD?src=/topics/buying_a_home

Advice for Sellers:
http://www.realestateabc.com/homeselling/

Tax Concerns:
http://www.tax.ny.gov/pit/property/

Stats:
http://www.citi-habitats.com/‎
0 votes Thank Flag Link Thu Nov 7, 2013
Good luck Naomi, keep in touch if you have anymore questions ,
0 votes Thank Flag Link Sun Jul 8, 2012
Hello all - thank you so much for your answers, they're all very useful! I guess the bottom line is that I should follow pricings of the apartments on the market and use my judgment. Best, Naomi
0 votes Thank Flag Link Sun Jul 8, 2012
Just to add... although possibly in contrast to some answers you received here...

Not customarily, but nevertheless every now and then the purchase price will exceed the list price! Also, a word of caution: if you're looking to purchase in Cobble Hill/Brooklyn Heights, then RLS (REBNY's listing service) is by far of more value then the Brooklyn MLS... REBNY members sell most properties in the area.

Best,

Aleksandra
0 votes Thank Flag Link Sat Jul 7, 2012
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