Open House Picks

Waverly house is cool but boy is it over-priced. I guess they're putting a premium on cool carriage houses.

Posted by: Anonymous at April 7, 2006 11:49 AM

The Ditmas Park House is either in Midwood Park or possibly Fiske Terrace - so very far from the park and Cortelyou Road. It is very tranquil and peaceful down there, but not a lot of amentities. Also, you can see from the picture that it backs up against an apartment building, and that usually means noise... So I'm thinking this place is priced a little high, maybe $100K. The asking price is more what I'd expect for a prime PPS location, but let's see what it goes for. Isn't the Broker house in Midwood Park asking in this range? It's still sitting there, and I'm betting because the location is not the most convenient (although very pretty).

Posted by: Anonymous at April 7, 2006 11:59 AM

My mistake - I looked at the picture more closely - house seems to abut another house in the back. This makes a big difference.

Posted by: Anonymous at April 7, 2006 12:01 PM

Re 15th St, I've bought two homes from Warren Lewis over the past few yrs. IMO, they are like the anti-Corcoran because instead of overpricing, they tend to underprice, which works well if you're the 1st guy on the scene and lock it up before anybody figures out whats going on. However, this also tends to create vicious bidding wars, which is what happened on my recent purchase. I should have bid near asking (I ultimately paid over ask) from the beginning and taken it out of play immediately. In my 1st purchase (years ago), I bid asking and it was immediately accepted (even though it was still about 20% below mkt).

Posted by: Anonymous at April 7, 2006 12:26 PM

Stuyblkbuttrflie,

I had the same reaction when I bought my 1st apt thru Warren Lewis. I thought certain there must be something wrong with it because it was mint condition, perfect, but priced 20% below mkt.

Like I said above, I bid asking, the sellers readily accepted, I kept looking for skeletons in the closet, there were none (accept owners really needed the cash cause they'd already bought something).

When I sold that puppy a few yrs later... well you really don't want to know how much I made.

For here on out, I buy thru Warren Lewis. Not so sure I'd sell thru them though if you want the best price. I'd sell thru Corcoran or one of the other big Manhattan brokerages.

Posted by: Anonymous at April 7, 2006 12:32 PM

I think that the bidding war is the new strategy of the real estate agents. Low-ball the property, incite a bidding war and, presto, you get an offer way above your bottomline.
I hate bidding wars...leads to irrational exuberance. Wouldn't even think of buying a hud property or one that's been in foreclosure....they almost always go for more than they would on the regular market.

Posted by: Anonymous at April 7, 2006 12:33 PM

Love the Waverly bidet, or "a#$ sink" as I like to call it. Seems expensive for under 2000 sq. feet though?

Posted by: Anonymous at April 7, 2006 12:34 PM

Anon 12.33. That's an old strategy. Not all buyers have the stomach to try it for fear of not getting high enough offers, but it does often work.

Posted by: Anonymous at April 7, 2006 12:40 PM

that is really good to known about warren lewis. thanks for sharing the tip.

Posted by: Anonymous at April 7, 2006 12:45 PM

What do people think of the layout of 15th St house - enter downstairs, master suite and bedrooms on parlor floor? We are looking at a place with a similar layout and think I would really like it - easy access to garden and great light in the bedrooms - but I would have thought people here would find it a negative...

Posted by: Anonymous at April 7, 2006 12:49 PM

The style of the CH house bothers me- seems like they just randomly added amenities instead of creating a HOME ( see previous thread). Not for me thank you. What a waste.

Posted by: Anonymous at April 7, 2006 12:50 PM

Fifteen Street's catches are there, if minor: the street has two bus routes and is the main conduit off of PPW -- therefore, there's always traffic and parking isn't easy. Second, the layout with a top floor rental is less than ideal.

Still, aggressively priced, or underpriced as people have noted.

Posted by: Anonymous at April 7, 2006 1:02 PM

This entire selection of houses is totally depressing. 15th street is nice and the "Ditmas" house is lovely but the location is a no-go for me. The others are unappealing. And they are all absurdly overpriced (with the exception of 15th street, which does actually seem reasonalbe). If I really needed to buy something now, I would probably skip Brooklyn altogether.

As for AH and the bidding war strategy: When I sold through them 4 years ago they priced the house a little lower than they said I should get--and we ended up with 3 bids at 12% over asking. More recently I discussed selling a property with realtors and they all said that bidding wars were largely a thing of the past and that they'd price the house higher than they expected to get in the end. For what it is worth...

Posted by: Anonymous at April 7, 2006 1:07 PM

Also on 15th Street - I think its on block mostly of small apt bldgs and not as attractive as usual Pk Slope.
And taxes seem about $150 month higher than would expect.

Posted by: Anonymous at April 7, 2006 1:08 PM

15th Street - I lived across the street from this house, in an apartment, for three years. This is a VERY, VERY loud block. It's the main drag off PPW and includes the route of two city busses. Everyone loves to blow their horn while waiting for the light at eight avenue and the Saturday morning traffic includes a lot of trucks.

Posted by: Anonymous at April 7, 2006 1:52 PM

15th Street - I lived across the street from this house, in an apartment, for three years. This is a VERY, VERY loud block. It's the main drag off PPW and includes the route of two city busses. Everyone loves to blow their horn while waiting for the light at eight avenue and the Saturday morning traffic includes a lot of trucks.

Posted by: Anonymous at April 7, 2006 1:55 PM

Agreed with the double-poster at 1:52 and 1:55. That is one SUPER loud block. Teens hang out waiting for movies, there are buses, tons of honking cars. The block is not pretty.

The price is right, though.

Posted by: Anonymous at April 7, 2006 1:58 PM

I just saw WL try to sell a house in a co- exclusive situation after the house had been on the market with another broker at a higher price. They brought in two bids at asking and said that they were getting a third- meanwhile the other broker brought in a bid at asking and WLs two bids magically disapeared and the third never materialized- I say this because I truly believe that some apparant bidding wars are just a fabricated game of chicken to drive up interest and pricing.In this case, WL lost, but saved face cause they could say that they just lost the bidding war. And in no way am I suggesting that just WL plays this game. Hey, maybe this is just what keeps the game fun!

Posted by: Anonymous at April 7, 2006 2:00 PM

15 street in p.s. is right by the Pavillion theater and on the main bus route. Truck traffic from the bartlet prichard sp? turn-a-bout leads all sanitation trucks down 15th to the gowanus yards. 1.3 is the standard two family 3 story price for that area. W>L> just sold a nice 2.75 on 16th that was way better than the 15th streeter. I am not sure the bidding wars are over...still alot of that ""afraid to let this one go..we will never find anything better" attitude goin round.

Posted by: Anonymous at April 7, 2006 2:59 PM

I don't think bidding war is a thing of the past. It's the newest (and oldest) approach to bringing buyers, those that have been turned off by over-pricing, back to the table. It also helps to generate 'buzz' and traffic at the open houses. It's a way of ensuring that the momentum continues. I just wish brokers were more honest about the products that they're selling because they'll just end up frustrating more and more buyers until they all drop out of the market.

Posted by: Anonymous at April 7, 2006 3:22 PM

15th st may be noisy but it can't be worse than PPW that is so desirable. And can't be something that a problem that some citi-quiet windows wouldn't fix?

Posted by: Anonymous at April 7, 2006 3:22 PM

I wasn't suggesting that bidding wars don't happen, but the realtors we talked to said that they are now infrequent and they no longer price with the idea of spurring a bidding war. They all said they'd price the house above the target in the hopes of getting the target. I imagine this varies a bit depending on the hotness of the specific neighborhood and the house.

Posted by: Anonymous at April 7, 2006 3:36 PM

I'm sure good windows can make 15th street quieter... and street is probably fine....
Just that wouldn't be 'as desirable' as other blocks and therefore a bit cheaper....how much? who knows.

Posted by: Anonymous at April 7, 2006 3:48 PM

14th street one block over is right on the same block as the pavilion yet because the traffic is heading the other direction it is much more quiet. People use 16th to come up the slope. All it takes is one fresh direct truck blocking traffic and you get a symphony of car horns.

Posted by: Anonymous at April 7, 2006 4:18 PM

I'll give you the noise on 15th street but I think the limestones on that block are v pretty

Posted by: Anonymous at April 7, 2006 4:31 PM

in addition, that carriage house is not that nice on waverly. a bidet, really, that is just so new jersey. the white appliances in the kitchen? i mean come on, for 1.9M it should at least have jenn air appliances. if they listed it at 1.45M it would fly, i know i know it has parking.

Posted by: Anonymous at April 7, 2006 6:22 PM

one last thing, this is why massey should not sell residential real estate--look at those PHOTOS!!! who takes pictures of toilets?

Posted by: Anonymous at April 7, 2006 6:25 PM

Oh, that'r rich! Click on the floorplan link for the Waverly Ave carriage house. I love the post-modern interpretation of "floorplan"

Posted by: Anonymous at April 7, 2006 8:38 PM

"On the topic of the noisy block on 15th St., we looked at a beautifully renovated apt. on PPW, well priced, ground floor VERY close to the Pavilion. We passed on it because we thought the street traffic (both foot and automobile) would be torture. Any opinions on that assessment? It was a great apt., and I keep questioning our decision."

i went to the same apartment i think, it was the 3 bedroom 1400sq ft co-op with low maint beautiful inside and low 845k price from brooklyn properties? great floorplan. there was a mini bidding war and it went 3 days after the open house for probably the ask, or a touch above, all cash i bet. I've not seen anything priced as well since.

Posted by: Anonymous at April 7, 2006 9:15 PM

15th Street is louder than park block, IMO, because it's a narrow street and there are buildings on both sides. It is a block with some very nice people, but they have lots of people dropping trash there and loud fights with the homeless ladies and their boyfriends visiting. It's really not a great block--apologies to all residents.

Posted by: Anonymous at April 7, 2006 9:17 PM

yes the floor plan is truly revelatory on waverly ave. thanks for pointing it out.

Posted by: Anonymous at April 8, 2006 8:49 AM

"i went to the same apartment i think, it was the 3 bedroom 1400sq ft co-op with low maint beautiful inside and low 845k price from brooklyn properties? great floorplan. there was a mini bidding war and it went 3 days after the open house for probably the ask, or a touch above, all cash i bet. I've not seen anything priced as well since."

Anon - I saw that Apt. too. Went for more than the asking price. I am keeping my eye on that building because the other apts are as nice/nicer, with same layout but all exposed wood, and those facing the side street would have less noise.

Posted by: Anonymous at April 8, 2006 8:52 AM

also waverly C of O is commercial, not residential. doesn't this make living there a violation? wouldn't owner technically have to change CofO????

Posted by: Anonymous at April 8, 2006 11:05 AM

Anyone know of any recent bidding wars on a brownstone? Like, how recently? All the places that come up on B'stoner in the open house section just kinda sit on the market, despite many getting rave reviews by posters.

Posted by: Anonymous at April 8, 2006 2:23 PM

To Anon 2:23 - I have friends in Park Slope who won a bidding war on a brownstone last summer/early fall, so not that recently. The broker was one of the smaller ones - maybe Aguayo and Huebener? The brownstone is in the "prime" part of the Slope, on Garfield Place between 7th and 8th Avenues. It went for 11% above asking price.

Posted by: Anonymous at April 8, 2006 2:31 PM

Re recent bidding war question- yes! My neighbors house, my house and now a house across the street this past week.

Posted by: Anonymous at April 8, 2006 3:44 PM

many, many multiple bids going in on properties (not always "wars" because it depends on how nicely an agency handles this situation.) What is more common and less believed by inexperienced buyers is that multiple bids often appear at the same time after a property's been on the market a while. Confident buyers who see a property and want it listen to their agents and pay the full asking price right out of the starting gate so that they don't get trumped in the end by somebody else who will. But the majority of buyers only learn this the hard way. It's hard to watch and it happens time and again.

Posted by: Anonymous at April 8, 2006 6:48 PM

"i went to the same apartment i think, it was the 3 bedroom 1400sq ft co-op with low maint beautiful inside and low 845k price from brooklyn properties? great floorplan. there was a mini bidding war and it went 3 days after the open house for probably the ask, or a touch above, all cash i bet. I've not seen anything priced as well since."

I actually made an offer on this apartment for $850K, and bowed out when it went to blind auction. It went for quite a bit above asking, from what I understand. It was a lovely apartment, but I think being on the ground floor across from the park, with a busstop right next to the MBR, would have been miserable. I thought this was a perfect example of pricing an apartment lower than normal to generate a lot of buzz.

Posted by: Anonymous at April 9, 2006 12:47 AM

i went to the 15th st place and it was full of eager little bidders. While I was there the street got jammed with cars waiting for 8th ave, and a tlc used his horn. sigh.

the bidding is "open" and will continue, like an auction, until everyone is exhausted from pushing recalc.

the interior has a 70s renovation feel to me - the kitchen needs a rebuild and the "home office" area is too open to function as more than a desk to pay bills. "open to below" killed what would have been a real third upstairs room.

the apartment upstairs is cool, and might even rent for the predicted amount.

Posted by: Anonymous at April 9, 2006 5:54 PM

I went to the open house on Waverly. At first I was going to skip it b/c of the feedback but it was raining and there wasn't much else to do today... anyway, I went to the open house next door to it over the summer. It was a double carriage house and went for about 2.2. I don't agree that it was in better shape than the Waverly one. Everything was really old and dirty and the electric and plumbing wasn't updated for over 25 years. Waverly is def. over priced - but what isn't in that neighborhood. All new plumbing, electric, zoned heating, etc. It is a residential (apartment downstairs and full apartment upstairs with patio) and it has a commercial space in the garage which can be legally rented). It doesn't surprise me that it's listed for 1.9. That area is really taking off. You could move in immediately and rent the other apartment. It is pretty spacious and very well maintained. The appliances aren't white - they are stainless steel. I think MK's pics make it look worse. If you have the bucks it's worth checking out. Area seems a little more low key and better parking. They'll def. get 1.5 just for the great shape its in compared to some of these crap holes that haven't had work done on them since the 70's.

Posted by: Anonymous at April 22, 2006 8:08 PM