Residential apartment buyers want prices to be nearly one-third off the market’s high mark to convince them to go into contract, Pamela Liebman, CEO of the Corcoran Group said at a panel discussion yesterday. “My brokers are telling me, ‘The way I am making deals right now is if I can prove to the buyer that this apartment [is] actually selling for 30 percent less than it sold at the height of the market,'” she said.Liebman said price cuts and new product releases are driving buyers to look at apartments, in a market where prices are generally considered to be down an average 20 percent.  
By Adam Pincus, May 15, 2009, The Real Deal

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