Foreclosures of the Week

Let the bottom feeding begin!

Posted by: guest at November 14, 2007 11:09 AM

Free Town Car! I'm shining up my leather trench coat and pimp hat as we speak!

Posted by: guest at November 14, 2007 11:23 AM

with what's going on in bed stuy right now, i'd be scared to invest.

just read today that for every 1 percentage point increase in foreclosures in a neighborhood, violent crime increases 2.3 percent.

i think we are for sure seeing that in bed stuy over the last few months.

some really scary shootings.

Posted by: guest at November 14, 2007 11:29 AM

yes! really scary shootings, and its the cops thats shooting.

Posted by: guest at November 14, 2007 11:33 AM

I believe people on the street would say that Bed Stuy is "overbought" right now.

I've purchased a number of shorts on Bed Stuy and believe I will gain a bundle in the short term.

Posted by: guest at November 14, 2007 11:34 AM

We all know Bed-stuy is the smallest area in Brooklyn...

Posted by: guest at November 14, 2007 11:38 AM

winthrop street is a great flip opportunity

Posted by: guest at November 14, 2007 11:56 AM

Where did you buy shorts in Bed-Stuy?

Posted by: guest at November 14, 2007 12:05 PM

How do you short real estate?

Posted by: guest at November 14, 2007 12:11 PM

Don't you just love ignorant talk with racist undertones???

As of late, and according to the 10 O'clock news, it is indeed the COPS that are doing the shooting in Bed-Stuy. And I would love to hear the short selling strategy that one would create on real estate. I'm not even sure that you could even create one synthetically.

If you don't like Bed-Stuy, just keep your comments to yourself and wait for the hood of your choice to let loose your comments.

Good Grief!

Posted by: guest at November 14, 2007 12:20 PM

Yes, pls do keep your comments to yourself. We don't want that pesky free speech thing infecting this board!!!

Posted by: guest at November 14, 2007 12:24 PM

I believe that free car is actually an early '90's Cadillac Sedan de Ville. Nice ride to pimp!

Posted by: guest at November 14, 2007 12:24 PM

Why are you people so jealous of Bedford Stuyvesant? It is the ghetto right??? All you people in areas like PS and BH should be glad that police are shooting the black people... Maybe all the black people will get scared and move to the Poconos...

Posted by: guest at November 14, 2007 12:26 PM

grand-daddy they found your car....

Posted by: guest at November 14, 2007 12:29 PM

"If you don't like Bed-Stuy, just keep your comments to yourself"

I say if you LIKE Bed Stuy, keep your comments to yourself.

Posted by: guest at November 14, 2007 12:33 PM

If only the bank would take a call from a random person willing to give up $150K. I don't care if it takes $250K to fix --you are still ahead.

Posted by: guest at November 14, 2007 12:50 PM

I live in PLG's LM. I've never been on Winthrop, so I have no comments on what that street is like. But this house seems wider than the typical 2-story and look at the half-circular driveway in front. The trees added in front to obscure the car is a nice solution. That's so interesting. Those are some deep front yards, there.

Posted by: guest at November 14, 2007 12:55 PM

Hey Mr. Brownstoner,

Can you post any info on how an interested buyer might find out more about these properties. Are they going to be auctioned or are they being handled by a broker. What was your source for the forclosure info.

Posted by: guest at November 14, 2007 12:56 PM

Try propertyshark.com

Posted by: guest at November 14, 2007 1:04 PM

Just don't let the same flippers who bought our house in foreclosure, buy the PLG place. In our situation, it was one guy who claimed to the IRS he lived in the place as primary residence for 2 years, when he never spent a night in there, while a group of orthodox jewish investors were the ones who really put up the money, paid for renovations then made the money on the sale. Their renovations were total utter amateur crap, too. We're still very happy with our house and the neighborhood, but please, Mr. Banker sell to people who are actually really truly going to live in the house, love it and renovate it right. It's terrible how foreclosures bring out the dishonest cheapo flipper types. I really hope regular folk start to get savvy about how they too can buy a house in foreclosure - so they can outbid the flippers.

Posted by: guest at November 14, 2007 1:07 PM

Me again from 1:07, I should be more clear and say our current house was purchased by the guy (along with a shadow group, actually) who bought it in foreclosure then flipped it and sold it to us. We're not the owners who went into foreclosure.

Posted by: guest at November 14, 2007 1:12 PM

Has anyone actually purchased a property at the Kings County foreclosure auction? My understanding is that you have to present a certfied check for 10% on the spot, and then follow through with financing within 30 days. Are these strict rules or is the process more flexible than that?

Posted by: guest at November 14, 2007 1:14 PM

There should be a Brownstoner sponsored workshop on how to buy houses in foreclosure. It's preservationist-minded, it would serve a lot of the site's regular visitors, it's educational for the community.

Posted by: guest at November 14, 2007 1:24 PM

"foreclosure of the week"
sort of like
"pound puppy of the week"

Save one, what about all the others?

Posted by: guest at November 14, 2007 1:31 PM

will you marry me, rehab?

Posted by: guest at November 14, 2007 2:47 PM

Here is a pretty interesting article from the NY Times about a couple that bought a nice townhouse in Crown Heights through a foreclosure auction. It shows that it's at least possible for an outsider to win some of these auctions.

http://www.nytimes.com/2007/08/26/realestate/26hunt.html?vendor=GABRIELS&partner=GABRIELS&ex=1195189200&en=8b8ee34d5d953333&ei=5103

Posted by: guest at November 14, 2007 3:08 PM

I see why people are dumber than a bag of bricks...

First why Mr. B post foreclosures on this site with no info.

Second you need ALL CASH to buy these houses (Your Money or a Hard Money Lender). Time is of the essence!

Third if you are fucking stupid enough to buy a house on the Court house steps then, you will have to worry about other shit. The liens, tenants and damage to the house.

Forth you will need to know the upset price, the comp and the rents you can get

Fifth how muck time and money you have to invest in this piece of shit!

Last but no lease, what is your exit strategy

The What ** Shakes Head ****

Some day this dumb shit is gonna end......

Posted by: guest at November 14, 2007 3:22 PM

You really think you're so much smarter than everyone else, that they don't think of those things before buying a foreclosed property in a fringe neighborhood in nyc?

Get real, 3:22.

You are not as smart as you think you are.

Posted by: guest at November 14, 2007 3:28 PM

"You really think you're so much smarter than everyone else, that they don't think of those things before buying a foreclosed property in a fringe neighborhood in nyc?

Get real, 3:22.

You are not as smart as you think you are."

I see why people are dumber than a bag of bricks...
See that's why I said this, you just reinforced my point.

I was at the auctions 4 years ago them they would have just 5 auctions on that day.

Plus I saved a house from going back to the bank.

I am a Licensed Real Estate Broker. I can transact a sale of Real Property in the state of New York. What do you have????!!!!
I'll tell you fucking nothing!!!! Now go away!

The What *** Middle Finger to you****

Someday this war is gonna end.....

Posted by: guest at November 14, 2007 3:40 PM

"What do you have????!!!!"

My dignity.

Which is a lot more than I can say for you.

Posted by: guest at November 14, 2007 3:41 PM

""What do you have????!!!!"

My dignity.

Which is a lot more than I can say for you."

That's best you ca do?? LMMFAOROTFG!

Dignity is overrated.

The What

Some day the dignity is gonna end......

Posted by: guest at November 14, 2007 3:49 PM

The What is a Licensed Real Estate Broker!!! That almost explains everything now...

Posted by: guest at November 14, 2007 3:51 PM

Look, I own rental property in Brooklyn and am well aware to the pitfalls of buying forclosed property.

I simply asked a question of the author of the original post: Where did you get this information? Can I get more details?

There are lots of different ways in which a foreclosed property gets sold. Sometimes they are auctioned by the County, sometimes the lender gives it to a broker and occassionally the lender gives the building to a private auctioneer to sell.

I am not some dumbass flipper. I actually know this neighborhood and I am looking for a house that I can buy cheaply, fix up and live in with my family.

Posted by: guest at November 14, 2007 4:04 PM

That's best you ca do?? LMMFAOROTFG!

Dignity is overrated.

The What

Some day the dignity is gonna end......

SPAM ALERT, SPAM ALERT, SPAM ALERT, SPAM ALERT, SPAM ALERT, SPAM ALERT, SPAM ALERT

Posted by: guest at November 14, 2007 4:10 PM

Fuck the what.

Brownstoner revoked posting for user "The What" after about a thousand posts of entire articles cut and pasted from other sources, interspersed with his semiliterate ranting and raving. So now he rants pathetically as "guest".

Someday The What's idiocy is gonna end...

Fuck The What.

Posted by: guest at November 14, 2007 4:11 PM

12:55 - you live in PLG and have never been on Winthrop? Pretty pathetic! There's more to PLG than just LM. Go South a bit!

Posted by: guest at November 14, 2007 4:26 PM

I see the bedbugs are coming out for this one. Still trying to downplay Bed Stuy even though the housing melt down has already been factored into Wall Street and there is no sky falling. Sorry naysayers, we are not going into a recession despite the best hopes of the Democrats. And by the way, we're actually winning in Iraq. Too bad the NY Times won't report it. Adieu, bedbugs and ballyhoo.

Posted by: guest at November 14, 2007 4:39 PM

make that jan. 2009.

still another year of this nightmare, sadly.

Posted by: guest at November 14, 2007 4:53 PM

i'm still waiting for the photos of him doin lines off cheney's stomach...

Posted by: guest at November 14, 2007 5:44 PM

PS 92 my grade school, class of 1971. :-)

Posted by: guest at November 14, 2007 6:02 PM

"Someday The What's idiocy is gonna end..."

Yep fuckface, when real estate has crashed 50%!

Brownstoner revoked posting for user "The What" after about a thousand posts of entire articles cut and pasted from other sources, interspersed with his semiliterate ranting and raving. So now he rants pathetically as "guest".

I'm still here bitach!

The What

Someday this war is gonna end

Posted by: guest at November 14, 2007 7:23 PM

Forgot your ellipsis, TW. Ease off the blackberry brandy, k?

The Why

Someday this lore's gonna distend...

Posted by: guest at November 14, 2007 7:55 PM

Not pathetic, 4:26. We have lives, thats all. We only moved in a short while ago and have been very busy with renovations and with work and simply living day to day.

You're being too sensitive, 4:26. I wasn't saying anything bad about Winthrop, in fact I complimented the house. All I sad was I hadn't been on the street yet. Calling me "pathetic" was totally inappropriate.

Posted by: guest at November 14, 2007 8:24 PM

Yes, please refrain from calling the civivilized humanity "pathetic" and save the abuse for The What, a person with serious special needs, who deserves to be called pathetic.

Some day this bore's gonna end (drop dead)...

Posted by: guest at November 14, 2007 9:07 PM

I think you should read this. Foreclosures will crash our financial system! I know I know!

Monster Western credit crisis – prelude to a depression

· The present contraction of credit
· Gold in this situation

http://www.prudentsquirrel.com/breakingnews/14_11_07.htm

Keep praying asshats. This shit is going down!!

The What

Someday this war is gonna end...

To the assholes: Lets see you put positive news on real estate up here! You can't because it's fucked!!!!!!

Posted by: guest at November 14, 2007 9:12 PM

The what sweetie - you're becoming more irate by the day. Please calm down. Forget real estate for a min - just breathe! Take a trip and relax. I'll still love ya!

Posted by: guest at November 14, 2007 9:50 PM

rehab,
try taking your head out ya smelly ass. Wake up and realize that even your liberal buddies at the NYTimes were recently forced to admit that al quaeda in Iraq is decimated. Although they printed it on page 3. Troop levels are set to draw down, as bombings and violent attacks have come down by over 80 percent in the last 2 months. Go and google it, if you dare. Even perky Katie at CBS news was forced to admit through a gritting teeth that the US military is getting the job done. Just another reason you liberals should wake up and ask yourselves why the economy has not tanked after 5 years of negative predictions by the left. And still you have moronic posters here stating that we are doomed. Come back here in 6 months. I'll still be posting and dare to tell me I'm wrong.

Posted by: guest at November 14, 2007 11:18 PM

meanwhile we have this other dummie here; "the whatever" linking to doom and gloom sites like the "prudentsquirrel" which are nothing more than pump and dump gold speculators. and this dummie falls for it like one of those idiots in nikes and a track suit waiting for the comet to pass. lol. Here's a clue dude, look at all the site's previous articles; every one of them paints a negative scenario going back 3 years. sounds like they were wrong a heck of a lot. But don't worry, even a broken clock gets it right twice a day. someday you'll stop ruining a perfectly good line from Apocalypse Now and get your own imagination.
...so whatcha watcha watcha you want...aaaouuuuu.

Posted by: guest at November 14, 2007 11:35 PM

meanwhile, 11:18 and 11:35, while your President has been wasting his time in Iraq, Iran is going to bomb us into the stone age and take over this country. Thanks to your PUSSY President. You suck!

Posted by: guest at November 14, 2007 11:53 PM

if you are an american he's your president too. no?

Posted by: guest at November 15, 2007 12:26 AM

"meanwhile we have this other dummie here; "the whatever" linking to doom and gloom sites like the "prudentsquirrel" which are nothing more than pump and dump gold speculators. and this dummie falls for it like one of those idiots in nikes and a track suit waiting for the comet to pass. lol. Here's a clue dude, look at all the site's previous articles; every one of them paints a negative scenario going back 3 years. sounds like they were wrong a heck of a lot. But don't worry, even a broken clock gets it right twice a day. someday you'll stop ruining a perfectly good line from Apocalypse Now and get your own imagination.
...so whatcha watcha watcha you want...aaaouuuuu."

Ok asshole! The stories are from Main Stream Media like, NY Times, The Wall Street Journal and Bloomberg. I hate to see 6 months from now. This is going to be a bloodbath!!!

The What

Some day this war is gonna end.......

Posted by: guest at November 15, 2007 3:04 AM

ok dummy,
idiots like you have been predicting "bloodbaths", "meltdowns" and general unpleasantness for 5 years now. The basic facts are that you have been COMPLETELY wrong, allowing your political ideologies to cloud your objectivity. You know you were one of those morons who was saying we would be in a "depression" within a year of the tax cuts implemented by Bush. That was over 5 years ago and we have had over 15 straight quarters of GDP growth. Why? because this is a global economy dummy, and we are in a period of economic expansion around the world. The housing market makes up less than 5 percent of GDP and of that, bad, subprime loans make up a small fraction. Check out yesterday's economic data, suggesting that the major banks have gone through the worst of it already, meanwhile job growth continues, unemployment continues at a low 4.7%, we also happen to be winning this war against radical islamists. Sorry for all the bad news. Dummy. Again, I'll still be here in 6 months to remind you. Whatcha, whatcha, whatcha want.....aaaoooouuuu.

Posted by: guest at November 15, 2007 7:20 AM

the bush tax credits were asinine.

in every way.

Posted by: guest at November 15, 2007 10:47 AM

10:47,

Asinine, indeed.

As in, my ass got none, his greedy ass got nine. (hah)

Posted by: guest at November 15, 2007 10:03 PM