Submitted by sal, Jan 3, 2007 11:09

How can we reconcile 5% or 17% price increases with what this New York City real estate broker is saying below? I'll admit there is a lot of contradiction out there, but I will trust what teh brokers say (they have a vested interest in saying just the opposite) and what I have seen with my own eyes--price reduction galore.

Ms. Esses made these noteworthy observations:

• Everything now is negotiated downward from the initial asking price, by a minimum of 5% to 7%.

• Prices are down at least 10% from a year ago on practically everything.

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