Broker Blogwrap is Curbed's irregular roundup of the best of the real estate broker blogs. Got a blog we should be reading? Drop a line to email@example.com.
1) Co-op Craziness Part I: Seemingly in response to reports that condo boards have caught up to their unpredictable kookiness, co-op boards have struck back with a vengeance. Over on UrbanDigs, Christine Toes shares an enthralling anecdote about a board that recently turned down a purchaser in part because the sales price of the apartment was too low. [UrbanDigs]
2) Co-op Craziness Part II: Peter Comitini has a thoughtful analysis of how changes to the 80/20 rule?which stated co-op buildings were required to get 80% of their income from tenant-shareholders and no more than 20% from other sources like commercial rents?will affect both shareholders and valuations. Sample: "The new, broadened, criteria for co-ops, will make it easier for co-ops to collect market rents and still permit the pass-through of those tax benefits to shareholders, who's buildings might have been in violation under the old law." [Comitini]
3) Second Prize is a Cheese Wheel: And, on a lighter note, Doug Heddings over an TrueGotham points us to an awesome story out of Maryland, where a couple is selling their home (right) by unloading $100 raffle tickets, with the prize being the house itself. The place is valued at $390,000, so only 3,900 tickets and they're good to go! [TrueGotham]