Never be satisfied with mediocrity!

Yes they are!

I spent my first 5 years in the business working with all price points (I am now 6.5 years in the business) but it's just not a feasible business strategy specializing in a section of town where the prices overall are signficantly lower than just 3-4 miles further south. As a generalization I am not looking to work with buyers below a certain price point...but there are going to be occassional reasons for me to take on a client that doesn't meet that minimum. I was working with a lot of income restricted co-op's (which are often more expensive than homes in a good portion of the country despite being income restricted, one of them 10 blocks from my apartment has a history of selling units for over $2 million)- but they are complicated, and represent a large portion of the entry level properties in the area. It's less about the price point- but more about the fact that this income restricted co-op's are going to account for the majority of these listings (and the buyers are generally receiving large amounts of cash gifting from family- so no worries about fair housing type of concerns). These income restricted sales can not only take up twice the amount of time or more than a market rate sale- but on top of that these co-op boards tend to reject a lot of the buyers- so by the time I finally close a sale with the buyer, I could have worked with 2 or 3 other clients , typically at much higher price points, in the same period of time as this one - since it's a combo of the weaker inventory at the entry points and it's very difficult co-op boards to add to the difficulty. It's also a very consultative process- i.e. the board only allows incomes up to 120% of the NY Area Median Income- consistent for the last 3 years plus current income must match with tax filings included, No dogs, Sublets require board approval- and only up to 18 months over the life of ownership, No gifting permited, No pied a terre's permitted, etc