Anthony Carollo contributed to an article found in Today's NYPOST Real Estate Section (6/12/08). The article Danger Zone discusses forclosures throughout the Five Boroughs.
Here is a piece of the article:
"I have a listing in St. Albans, [Queens]," says Anthony Carollo of Carollo Real Estate. "Their asking price was $399,000 [seven months ago], and they couldn't sell it. We got it in April, and we started at $369,000."
That house was a well maintained, three-bedroom frame Colonial that had not been foreclosed on - but several other houses nearby had been. And the banks were trying to get those properties off their hands as quickly as possible.
"We've been going up against homes that banks were willing to sell for $75,000 less," says Carollo. "The bank doesn't want to own the property. They don't want to spend the money maintaining it or the legal fees."
As for the listing in St. Albans: "We just dropped the price again, to $339,000."
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On the Market 20 Weeks
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On the Market: 16 Weeks
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