Buyers Sweet on Slope, Bay Ridge, and Bed-Stuy
People searching for Brooklyn homes on the Real Estate Board of New York’s ResidentialNYC web portal are most likely to look for properties in Park Slope, Bay Ridge or Bedford-Stuyvesant, according to an article in this morning’s Eagle. The Slope is Brooklyn’s most searched-for neighborhood, followed by Bay RIdge and Bed-Stuy. According to data collected…
People searching for Brooklyn homes on the Real Estate Board of New York’s ResidentialNYC web portal are most likely to look for properties in Park Slope, Bay Ridge or Bedford-Stuyvesant, according to an article in this morning’s Eagle. The Slope is Brooklyn’s most searched-for neighborhood, followed by Bay RIdge and Bed-Stuy. According to data collected on ResidentialNYC, the Brooklyn sales market isn’t exactly flagging. Average prices for co-ops and condos increased 11 percent (to $501,000) from January ’07 to January ’08. Average prices for all home types increased a far more modest 2 percent, year-over-year, to $587,000. “Despite a national real estate slowdown, the Brooklyn market continues to show some signs of growth with apartment prices increasing 11 percent throughout the borough, said REBNY Prez Steven Spinola.
Park Slope, Bay Ridge, Bed-Stuy Named ‘Hottest’ Nabes [Brooklyn Eagle]
Slope photo by wallyg; Bay Ridge photo by gmpicket; Bed-Stuy photo by ultraclay.
The current mortgage crisis coupled with the downturn on Wall Street and the credit market will cause Brooklyn real estate values to plunge 25% to 30% over the next 2 to 3 years. Take if from someone who has been a real estate investor in Manhattan and Brooklyn for almost 30 years. If you are interested in buying in Brooklyn, just wait it out and you’ll save yourself a bundle.
4:46: There is only a loss if they BOUGHT at a higher price. Did they buy at a higher price than they sold? If not, what is your point? You take one sale as a trend? You are worse than the real estate agents pushing their kool aid.
I see you went to the open house. Are you a bitter renter? HAHAHAHAHAHA.
I think you are an open house troll who likes to snoop and is envious of property owners.
What a loser.
Owned my own home in Brooklyn since the age of 21…. Purchased during poor housing slump and poor ecconomy imagine the equity I have l’m 50yrs old now you can never go wrong with purchasing a home in Brooklyn….
4:46- 950 or 875k for a 2 bedroom in a row house in bklyn is a homerun!
4:25: your precious article is BASED on what a broker said. so how can you rely on broker babble when it fits your argument, but claim it is useless when it contradicts it? plus, if you actually read the miller samuel piece, you would realize that the data is not broker-derived but was so convincing that a broker could not deny it, hence the quote. you are the one who can’t interpret data, my friend. i would highly recommend taking a logic course. ask a lot of questions when they get to circular logic. but i am sure you are right. prices still going through the roof. non-stop. even if park slope alone has over 1,000 mostly overpriced listings on nytimes.com. there have to be at least 1,000 suckers out there, right? right?
facts: 659/661 carroll. 659 sold out in late 07 at $950K for a 2br, 3rd floor. exact same floorplan, developer, footage everything at 661 sat on the market for 6 months and took a cut to $875K before they could move it. 230A 6th ave – exact same original plan, very similar layout to carroll (around the corner) on the market now. they tried to price comp at 950K. no takers, immediately cut to 875K. open house is a ghost town (i was there). sure, it’s anecdotal but this is the primest of the prime and there are ACTUAL price declines. i’m sure you will find some way to ignore these facts too.
“that little voice in your head, it’s called pride. you gotta fight that sh!t.”
2:02: Show me sales data, not what some “broker said” bologna. This article is about Brooklyn and specifically about 3 areas. Explain how your “facts” contradict that? You still haven’t done that.
You really don’t understand how to interpret data.
It is obvious you have no arguement since you resort to calling out spelling errors and trying to insult.
btw: The insults are really lame and childish and totaly destroy your attempt to seem intelligent.
Most people we know bought their houses or places long enough ago that even with a big dip they still have equity in the place. Not every property in Brooklyn was purchased within the last 3 years. That would have been really some kind of migration! Have you any idea how many people own and live in Brooklyn? It’s a huge place. Many many people who have owned their properties their entire lives, or 20 years or more.
Fact is: Regardles of the credit crisis, there are still alot of people in the city who made alot of money over the past 5 years who are still willing to pay for overpriced realestate.
Am I the only one here who thinks that Bay Ridge place is tacky and hideous? It looks like something Tony Soprano would turn his nose at for being too over the top.
Its goombah-riffic! .