Has the housing market bottomed out? That’s what they’re saying over on the Calculated Risk. Noting that the data shows that new home sales hit a low in mid-2010 and have gone sideways since, the soothsayers at the economics blog predict that housing prices, a metric that hits a lot closer to home for buyers and sellers, will hit a low point next month and rebound from there. The writer cites three reasons for the optimism: (1) the national price-to-rent ratio (historical graph on the jump) is finally back to “normal” levels; (2) there’s been a large decline in listed inventory; (3) housing policy initiatives are likely to lessen the downward pressure of distressed sales. Of course, all real estate is local, so results may vary.
The Housing Bottom is Here [Calculated Risk]
This three-bedroom condo at 1 Montgomery Place in Park Slope is very impressive. The 2,624-square-foot duplex has been carved out of a former mansion and includes a 750-square-foot private garden. The layout is much more generous than what you’d find in a typical brownstone and there are lots of original details. Asking price: $2,650,000. 1 […]
This nicely renovated three-bedroom in Crown Heights seems like a good value. The living room is well-sized, and its three windows help open up the room. That framed exposed brick behind the drywall is interesting too. The kitchen looks narrow, but the appliances are brand new and the island offers additional counter space. There are […]
It looks like the foundation is going in for a five-story building at 588 Myrtle on the corner of Classon. The lot has been empty since the previous owners demolished a three-story house in 2007. We first reported on potential development here way back in 2008, and there have been a few aborted development plans […]
The Toll Brothers decided to embrace the design aesthetics of Brooklyn Bridge Park when building their newest luxury condo development, Pierhouse. Every unit will have its own $400 composter and wood floors reclaimed from Dumbo’s waterfront warehouses, reported The New York Daily News. Architect Jonathan Marvel lined the building’s base with the same granite used […]
Small real estate brokerages are flourishing in brownstone neighborhoods in Brooklyn, according to the Times, where buyers seek their local expertise and deep connections. In Bed Stuy, Evans & Nye is becoming known for having sold some of the most beautifully appointed and highest priced brownstones in the neighborhood, many just under $2,000,000. In April, […]