Manhattan Apartment Prices Drop as Lehman Effect Hits Home – Oshrat Carmiel – Manhattan apartment prices dropped for the first time since 2002 in the second quarter … The median price fell 18.5 percent from a year earlier to $835,700, New York appraiser Miller Samuel Inc. and broker Prudential Douglas Elliman Real Estate said today. The number of sales plunged by half, the most since Miller Samuel began keeping data in 1989 … – Bloomberg

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Submarket Analysis Helps With Great Decisions – We believe there will be a flood of investment opportunities over the next few years. To distinguish a diamond in the rough from Fool’s Gold, it is important to get smart about which submarkets will emerge first – and strongest – from this downturn. We advise cutting your market up evenly into A, B, C, D and F submarkets. This will help you stay disciplined. – John Burns RE Consulting

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‘Home Staging’ Mania Could Signal Housing Bottom – Tim Iacono – In this commentary at Bloomberg today, Caroline Baum stirs memories of the late, great housing bubble as it was inflating and looks at the current “home staging” mania.    – themessthatgreenspanmade