Most noteworthy of news from this weekend was news from Josh Barbanel on the front page of Sunday's NYT Real Estate section (first link), which was very bullish on the prospects for the sub- $1 Mil. market. The article noted a pick up in both open house traffic and contracts being signed in that segment. Rather than the Wall Street titans which formerly drove the market, these buyers are average joes- accountants, teachers and the like, many of whom are first-time homebuyers.
Sub- $1 Million Buyers Start To Surface Amid Low Rates, Prices (NY Times)
A New Sales Tact: Anti-Bombast (NY Times)
Dolly Lenz Says She Is Losing Deals Thanks To Madoff (Real Deal/ Fox Video)
New York Neighborhoods That Attract Old People (NYDN)
National Luxury Real Estate Round Up (Luxist)