NY times real estate talks about Long Island (sales, credit)

[WJFM]

http://www.nytimes.com/2009/11/22/re...te/22lizo.html

[S.I.B.]

Interesting:

"Since 1996, there have been only 19 occasions when the Multiple Listing Service reported more than 3,000 sales in a month; it turns out that 4 of those 19 have occurred in the last six months."

[WJFM]

Another interesting part:
"to save on the state’s longstanding 1 percent mansion tax, sellers were creating a “frenzy” by pricing their homes just below $1 million."

[thebobs]

Originally Posted by WJFM

Another interesting part:
"to save on the state’s longstanding 1 percent mansion tax, sellers were creating a “frenzy” by pricing their homes just below $1 million."

Well of course it did. Once I saw them go under 1 million, I snatched up 4 of them.

[mathjak107]

Originally Posted by S.I.B.

Interesting:

"Since 1996, there have been only 19 occasions when the Multiple Listing Service reported more than 3,000 sales in a month; it turns out that 4 of those 19 have occurred in the last six months."

i would imagine all related to the tax credit as opposed to a real natural p/u in business. kind of like the cash for clunkers was to cars........

[S.I.B.]

Originally Posted by mathjak107

i would imagine all related to the tax credit as opposed to a real natural p/u in business. kind of like the cash for clunkers was to cars........

impossible.

[mathjak107]

i didnt mean that all sales were because of the tax credit, just the fact that we hit the over 3,000 so many times in the last 2 months.

its no different then saying the car companies hit their record monthly sales this year because of the clunkers program.. of course not every sale qualified but non the less that was the reason sales peaked