« Co-ops of the Day: Turner Towers Side-by-Side Just Opened: casaBAN »

September 18, 2008

House of the Day: 29 4th Place

The asking price of $1,695,000 for the three-story house at 29 4th Place in Carroll Gardens looks like a reasonable price on its surface. The catch? The brownstone is stuck painfully somewhere in the late 70s or early 80s. It's not in terrible shape, but it'll definitely take some money and effort to bring it up to a level most buyers will want. The deal has a kicker though: An extra 1,800 square feet of air rights. Can you say rooftop addition?
29 4th Place [Corcoran] GMAP P*Shark

Trackback Pings

TrackBack URL for this entry:
http://www.brownstoner.com/mte/mt-tb.cgi/6294

Comments

The rooms look OK (except for the dreaded recessed lighting), only the kitchens and baths look in need of help.

Posted by: denton at September 18, 2008 1:23 PM

no original details remain except in the poo-brown room (I love brown but this particular shade is atrocious).

Posted by: TownhouseLady at September 18, 2008 1:28 PM

The scale of those windows on the parlor level are really bothering me... If the change those back to the full height windows this place will have great curb appeal.

Posted by: Amzi Hill at September 18, 2008 1:30 PM

Maybe there was a thread about this, but how do people think the current turmoil will affect prices? Seems kind of surreal to me that stocks/businesses are plummeting in value, and that would not affect still-very-highly priced NY RE. I know people need a place to live, but people needs lots of things (food, banks, etc) and yet many things in this economy apparently were over-valued so why not NY RE?

Posted by: Miss Muffett at September 18, 2008 1:34 PM

Aren't the "garden" blocks landmarked? I'd think any rooftop addition would have to be set back pretty far from the street.

Price does look good on the surface, but as the poster above noted, those replacement windows hint at some serious remuddling in the past...

Posted by: Bolder at September 18, 2008 1:34 PM

WOW...knotty pine rooms two days in a row!!! This one though seems more circa 1964.

Posted by: daveinbedstuy at September 18, 2008 1:37 PM

This owner's duplex somehow only has one bedroom? Very strange layout indeed.

Posted by: wasder at September 18, 2008 1:37 PM

Description is strange -- it's a three-story (with semi-finished basement), yet there's an owner's lower duplex, an upper duplex AND a third-floor rental? This place is also stripped of all detail, and ALL walls, floors, ceilings, and finishes would have to be ripped out and re-done.... Thanks, but no thanks.

Posted by: Park Sloper at September 18, 2008 1:39 PM

This place on the overall is quite good but $1.7m for a three story house is a stretch even in that location. I think seller & corcoran need to be a little more realistic. The year is 2008 folks ( apparently not from yesterdays follow up sales in Midwood :).
Ms Muffett the markets are in shambles and I hate to agree with you know who but RE will drop significantly even here in our good old NYC...simple economics.

Posted by: pierre de taille at September 18, 2008 1:47 PM

The pictures are exactly what I would have imagined the rest of the house featured in the Wayne's World SNL skits looking like if Wayne and Garth were ever to emerge from the wood panelled basement. It's Aurora, Illinois chic.

Posted by: Biff Champion at September 18, 2008 1:52 PM

This is not landmarked. Very little of CG is- only a few streets between Smith and Hoyt.
Nobody knows how the current 'crisis' will pan out (if you did you'd be mega-rich) - but otherwise this would have been fair asking price for 'Place' block needing some updating.

Posted by: Petebklyn at September 18, 2008 1:53 PM

watch out sellers, miss muffett smells blood!

Posted by: z at September 18, 2008 1:58 PM

no whey miss muffet.

Posted by: dittoburg at September 18, 2008 1:59 PM

If I hadn't known that Miss Muffet had been here for quite some time I might have thought she was a transgendered, kinder, gentler What.

Posted by: daveinbedstuy at September 18, 2008 2:02 PM

z & ditto: now, now. don't be discurdeous.

Posted by: i disagree at September 18, 2008 2:05 PM

My first preference is something full of original detail. But, once it's gone I'd rather buy a place like this and update it with the finishes of my choosing than have the seller go in and throw money into renovations (like brand new itty bitty kitchen sinks) that I will go right back in and change.

That said, considering that in looking at this I want to change almost everything I think it's pretty overpriced. My bid? 1.195M

Posted by: TownhouseLady at September 18, 2008 2:07 PM

Can someone enlighten me about what is wrong with recessed lighting?

Posted by: Colonel at September 18, 2008 2:08 PM

No we can't, you're beyond help.

Posted by: dittoburg at September 18, 2008 2:11 PM

A corcoran carroll gardens townhouse for under 6 million? i'll take two!!

Posted by: A Guest at September 18, 2008 2:13 PM

All charm has been stripped from the interior. But it's true that they could expand upward. Lots of homes in this area have added rooftop additions in recent years.

Posted by: Carol Gardens at September 18, 2008 2:14 PM

Hey DIBS - how on earth can you equate me with the What? I have said many times I *don't* think prime NYC will totally tank, just that I suspect it will soften for sure - what that means in terms of degree, who knows? My guess is that we could see prices revert to 2004-05 levels, but those are still pretty darn healthy! And I realize that no one really knows, but it would be pretty amazing if NYC real estate was NOT significantly affected by all the current economic turmoil...

Anyway, this particular house looks like it has good bones and a decent location, but needs a lot of work. I personally would not touch it (even though it's kind of the type of house we're looking for) since it seems like a bit of a headache and I suspect there are better deals to be had in the future...

Posted by: Miss Muffett at September 18, 2008 2:20 PM

This will sell.

Posted by: MR at September 18, 2008 2:20 PM

It was a joke Miss Muffett. But perhaps you're right. equating anyone with the What is unacceptable.

Posted by: daveinbedstuy at September 18, 2008 2:23 PM

Offer 1.3

Posted by: Xander Crews at September 18, 2008 2:25 PM

Yesterday's "last week's biggest sales" had 498 Clinton Street sold for 1.77. 498 is a horrible 1950s attached row house with no backyard on the corner of 3rd place and clinton. This house is about 400 feet away. Although it is no palace, at least it is a brownstone.

Posted by: carroll2stones at September 18, 2008 2:27 PM

As my boss at work said today: the world changed this week - and suddenly, we are revising plans/budgets in a major way. Last week's biggest sales were signed in a very different climate than we are in right now.

Posted by: Miss Muffett at September 18, 2008 2:31 PM

"Nobody knows how the current 'crisis' will pan out (if you did you'd be mega-rich".
Peter we know how this crisis is "panning" out right now because banks are failing and it is very very hard to get a loan plus lots of people are getting laid off (2 of them my friends from college courtesy of Bear Stearns). So yes while
we will not be rich for sure we know things are bad and are gonna get worse we just don't know where and when the bottom will arrive.
Sorry plus we disagree on the pricing of the HOTD also. Oh well, la vie continue LOL.

Posted by: pierre de taille at September 18, 2008 2:35 PM

I am with Miss Muffet. In 1990, things got very bad and this is expected to be far worse. People who bought in all these 30-60% sold new condo buildings will have it the worst. If they have to move, they will have to be able to afford to rent (afford, because rent will not cover their nut) or be foreclosed. The developers will pay the fees for the unsold units, or at least not on a timley basis, so the buildings will be far less luxurious than promoted. And I bet the city will come after all those folks who are not paying their big R/E tax bills because the building doesn't have its abatement (because the developer has not finished the entire building and won't until the market comes back).

Posted by: BH76 at September 18, 2008 2:40 PM

yesterday Adam said he was incredibly busy making loans. Also, the amount of mortgage applications skyrocketed as the data was announced yesterday. granted, many of these are refinances but it points to a stronger mortage market that will benefit those who need to lock in and reduce their payments and those (qualified) to buy a house.

Posted by: daveinbedstuy at September 18, 2008 2:49 PM

Ms Muffett I believe time and logic are on your side just continue to be patient. Rent for now and keep saving $$--only problem with saving is the interest rates are too low way below inflation and the markets are too shaky to invest. I guess that leaves you again with saving & CDs unfortunately:( Anyways with time " all will be revealed" so stay positive.

Posted by: pierre de taille at September 18, 2008 2:50 PM

Correct. Money that's earmarked as a downpayment for a home purchase in the near future; say 6-18 months, should NOT be in the stock market.

Posted by: daveinbedstuy at September 18, 2008 2:54 PM

I love the place blocks, but on 4th place your getting close to the highway (with assoicated noise) and far from the subway (to be renovated F train at Smith & 9th or F train at Carroll St).

Also, I live in a 16.5 foot wide townhouse which seems much roomier than this 17.5 foot tonwhouse because it has a center stairway. It looks like there's a hallway wall in each floor of his house which is making everything look cramped.

Posted by: Boerum Hill at September 18, 2008 3:06 PM

This is a messed-up house that was chopped up into three lousy apartments. What would I pay for it today? Not a lot, that's for sure.
I actually think this house will be unsellable for now. You would need mostly all-cash to buy it, and no one with that much cash on hand would settle for this.
We have to re-adjust our thinking to suit the present financial disaster reality. NYC real estate is teetering badly. The city may lose thousands and thousands of the best jobs. Properties like these, unattractive re-muddle jobs that have to be undone and redone, at great expense to the new owner, will be the first to lose their value. big time.

Posted by: Inigo at September 18, 2008 3:21 PM

DIBS do you have any other suggestions for a place to keep $$ these days for the short term i.e. 6-12months? Gold?
Also Adam is a good guy I am sure but it is his job to seem busy with mortgages plus as you say yourself refinances are not really a good indication right?

Posted by: pierre de taille at September 18, 2008 3:22 PM

Inigo - are you a brit?

Posted by: dittoburg at September 18, 2008 3:27 PM

Pierre de Taille - keeping cash spread out in FDIC insured accts is a decent way to go. I don't quite get why gov't securities would be better - I mean, the govt ultimately is backing FDIC insurance and most experts agree that's safe - just make sure you spread the cash around so you don't have more than 100K per acct.

Posted by: Miss Muffett at September 18, 2008 3:32 PM

for 6-12 months....only CDs or Treasuries. Until things settle down everything else is way too volatile and probably too risky. Gold today traded back and forth between 860 and 920!!!

With the prices of commodities falling, the price risk in Treasuries is lessened i.e. interest rates are not likely to rise anymore

Posted by: daveinbedstuy at September 18, 2008 3:34 PM

So if you owned this house and had if up for sale - What would you list it for?
Especially after seeing this other 3 story CG house that was listed for $1.795 in contract?
http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1275164&ohDat=9/21/2008%2012:00:00%20AM;

Posted by: Petebklyn at September 18, 2008 3:37 PM

If I owned this house, I would rent it, I would not try to sell it in the current market.
Gold is a terrible investment, it just shot up to 900 an ounce, you should have thought of it last week.
Right now, try spreading your money out in a variety of banks, or convert your dollars to Pound Sterling and open an account in Bermuda or the Caymans. In the end, all security is more or less an illusion. I find it comforting to know that the world will always need town car drivers.

Posted by: Inigo at September 18, 2008 3:49 PM

Two words that Brooklyn sellers are going to have to live with - Seller's Remorse (see Florida... http://www.nytimes.com/2008/09/01/us/01miami.html?_r=1&scp=1&sq=florida%20real%20estate%20remorse&st=cse&oref=slogin) Prices are only going down. There is no credit available to finance the additional $500-$750K pricing escalations which fueled the real estate growth of the past 5 years.

Posted by: HellsBelles at September 18, 2008 3:49 PM

There's a lot of credit...you just have to be qualified. Over the past week or so the amojunt of money that has flowed out of the stock market and money market funds and into banks is staggering. What do you think these banks do with that money?? They lend it out at higher rates for mortgages. The process has already started...rates are down. You just have to be qualified.

If Congress does an RTC (speculation of which drove the market up today) bank balance sheets will be flush with cash.

I'm not saying things have done a 180 here but we've turned a few corners

Posted by: daveinbedstuy at September 18, 2008 4:21 PM

Good point Dave. Thanks to my wife's stunningly good credit we just got a jumbo mortgage at a very good fixed rate. Although this happened a few weeks before this meltdown, the conditions were arguably worse for getting a mortgage given what you are saying above.

What's an RTC?

Also, off topic. Dave, on the Brooklynian Bed Stuy board there are folks asking questions about Butternut--what it will be, when it will be open etc. You might want to go there and give them the info.

Posted by: wasder at September 18, 2008 4:27 PM

RTC=Resolution Trust Corporation. It was set up in the late 80s early 90s to deal with the savings and loan crisis. The FED is trying to float an idea around the DC swamp to create one now.

Posted by: DeLepp at September 18, 2008 4:30 PM

Is there going to be a quiz on this?

Posted by: Biff Champion at September 18, 2008 4:32 PM

I sure hope so. I've been taking copious notes in my marble notebook.

Posted by: A Guest at September 18, 2008 4:42 PM

Meanwhile the Dow is up over 400. I'm so old, I remember when a 400 point movement really meant something! Now it seems to happen at least once a week.

Posted by: Biff Champion at September 18, 2008 4:44 PM

There is credit (I think a LOT is grossly exaggerated given that the biggest lenders on Wall Street are fighting for their very existence)...IF you are qualified. I don't think many people are qualified. So yes, maybe there is some credit but few qualified buyers. Sellers need buyers, and that pool of "qualified" buyers is shrinking every day. People weren't qualified to buy into these homes to begin with - not in any real terms. Either way the market now slows down and prices fall.

Posted by: HellsBelles at September 18, 2008 4:46 PM

thank you for letting me know about that wasder

Posted by: daveinbedstuy at September 18, 2008 4:53 PM

"I don't think many people are qualified...People weren't qualified to buy into these homes to begin with - not in any real terms." What people and what homes are you talking about? What a ridiculous generalization. Yes, lots of people who bought into homes across the country over the past 7 years weren't "really" qualified, but I doubt that most of the potential buyers for a home like the HOTD fit into that category. The buyers who will be most immediately affected by this crisis (those at the top and the bottom) for the most part weren't buying places like this. It's the midlevel managers, doctors, lawyers and other dual-income professional families who buy places like this, and they're likely still qualified. In real terms.

Posted by: i disagree at September 18, 2008 4:59 PM

No sweat Dave.

HellsBelles--you are no doubt correct on the whole that the pool of qualified buyers is way smaller than it used to be and therefore prices will drop. But there has to be a way forward as well and if banks are using this infusion of cash to lend responsibly to new buyers this might keep things from becoming too much of a blood bath.

Posted by: wasder at September 18, 2008 5:01 PM

Good point I Disagree. Certainly fits in my case.

Posted by: wasder at September 18, 2008 5:06 PM

Wasder - responsible financial management can only help. I don't think the reality of what has happened this week has sunk in here - this was posted today on ABC News: http://abcnews.go.com/Blotter/story?id=5832116&page=1
Manhattan's finest co-op apartments may have already lost a fourth of their value as a result of the financial crisis, and the worst is yet to come...

By the way - this is me i disagree... "the midlevel managers, doctors, lawyers and other dual-income professional families ..." I am qualified to buy the HOTD BUT I won't be buying until sellers (and brokers) drop their prices. Anyway either my husband or I will probably lose their job in the next round of layoffs, and just add to the pool of ever-diminishing buyers...

Posted by: HellsBelles at September 18, 2008 5:55 PM

The banks are flush with cash? The banks are flush with cash?? Which banks --name one. We're living through the worst credit contraction in finance history, and you say the banks are flush with cash? God help you, and anyone who listens to you. The banks are insolvent. You may have noticed, they are going out of business. (And before you tell me it's only --only! --the I-banks, name a retail bank; let's look at its balance sheet together, shall we?)

One clue to this insolvency --the need for an RTC-like entity that you, with your next breath, think may bail you out of your bad real estate book, the one you tiresomely talk up every day on Brownstoner.

And while we're at it: The RTC took over assets from DEAD ENTITIES. Do you think this new RTC is just going to politely relieve WaMu and Goldman Sachs of their toxic loans, so that status quo can resume? Are you insane?

Get your head around the negative cascade: NO BONUSES. (That's a beginning. There might not be a Wall Street on Monday.)

It's not in The What's head anymore. IT'S ON CHANNEL 15. The day when people named Daveinbedtsuy could come on here and twit The What as a chicken little and bitter renter are over. The days of cowed yuppies crawling out to slums to buy into his shitty tenements are over.

Please, please, try to get a grip.

Posted by: Whuh at September 18, 2008 6:10 PM

There is a lot of denial on this blog. The banks are full of cash? ha ha ha! That is like my Brooklyn Heights friends telling me that the "F" grade PS 8 received stands for "fabulous". Banks have tons of cash and PS 8 is too successful for the Board of Ed to comprehend. yea, yea, yadda, yadda.

Posted by: Inigo at September 18, 2008 6:54 PM

Whuh--I think we are all beyond the idea that the economy is OK and that the turnaround is right around the corner. Dave is merely stating an observation that if money is leaving the market and money market funds and going to banks, banks are going to turn around and lend that money. You have taken it to a whole new level with your way too aggressive snark. I mean yuppies crawling to shitty tenements? Have you ever been to Bed Stuy where Dave lives? He seems to be doing OK for himself and is on the verge of opening a new gourmet market there. Why do you feel the need to take an unfortunate economic circumstance and make it personal and nasty? This is what I most objected to in the What's rants--that somehow people making lives for themselves in urban Brooklyn were the enemy. Get over yourself.

Posted by: wasder at September 18, 2008 8:02 PM

I have to say that I think that the quote "yuppies crawling to shitty tenements" hits the nail on the head. Whuh should win the price for real estate poetry. That is EXACTLY true. and every real estate professional knows it is true in their hearts. Here are successful people with good careers living in shitty, walk-up firetraps. It is the ugly truth. I hope that this market corrects itself enough so that slum roach traps are no longer marketed as "deals of a lifetime".

Posted by: Inigo at September 18, 2008 8:21 PM

DIBS thanks for the info on gold. You actually confirmed our worries that it too was extra volatile but sorry buddy where did you actually conjure up that "there is a lot of credit"? That has got to be the greatest exaggeration of the day my friend. I think you probably meant to say that there is credit available but only to the VERY qualified. There hasn't been a worse time in the last decade to obtain a mortgage than right now.
Ms Muffett thanks for the advice on multiple accounts given FDIC insurance limit. ORANGE ING here we come.
HellsBelles you make a sound argument and sorry about the potential lay off (who knows maybe you guys will get lucky). My two friends who got laid off are really scared and one of em has a 2year old and a pregnant wife:) C'est pas facile la vie! Vraiment dommage!

Posted by: pierre de taille at September 18, 2008 8:44 PM

oui, c'est frommage mon ami.

Posted by: Inigo at September 18, 2008 9:08 PM

"Dave is merely stating an observation that if money is leaving the market and money market funds and going to banks."

Dave isn't "merely stating" anything. Dave is part of a chorus of asinine and self-serving puffery that landed us in this mess in the first place. Endless refrains about unlimited credit and neighborhoods in turnaround and "this house will be worth DOUBLE in three years," etc, etc. got everyone all hot to over-invest (massively, as a matter of fact) in non-productive assets --i.e., Dave's crap tenements and his crap gourmet stores.

Let me give you a very, very simple lesson in finance, circa September 2008: Any bank still breathing is taking your hard earned money and using it to re-capitalize, not to lend; and definitely not to lend against a mispriced rockpile in Bed Stuy. You people have the gall to come on here after years of crying "bitter renter" when anyone pointed out the RE bubble, and then chatter on (Hi Biff! Hi Dave! How ya doing Dave! Har, har, great Biff!) as if the bubble's not bursting right beneath you? You have the gall, after laughing about The What's prediction of apocalypse, to come on here ON THE DAY OF THE APOCALYPSE and talk about BANKS FLUSH WITH CASH?

Well, guess what, Dave. I have a nice, big, fat wad of tobacco for your pipe. It says "The What Was Right." Put it in and smoke it, baby! All you cheerleaders on this blog are now proven horse's asses. What a total pleasure never to read it again.

Posted by: Whuh at September 18, 2008 9:40 PM

Indigo that was a pathetic attempt at humor. Really sick given the context I just described but then again you may call it schandenfreud (spelling?) but I think it is really SHPOS-like behavior. Peace and good night.

Posted by: pierre de taille at September 18, 2008 10:18 PM

"What do you think these banks do with that money??"

I think they clutch it tightly to their over-leveraged bosoms, muttering, please Daddy Fed, help me... help me! Don't let me be the next to fall! It'll be different this time. I'll behave. Pinky swear!

Posted by: SnarkSlope at September 18, 2008 11:04 PM

I guess The What has returned with his new moniker Whuh.

That was REALLY tricky to figure out.

Welcome back!

Posted by: TownhouseLady at September 18, 2008 11:36 PM

"You people have the gall to come on here after years of crying "bitter renter" when anyone pointed out the RE bubble, and then chatter on (Hi Biff! Hi Dave! How ya doing Dave! Har, har, great Biff!) as if the bubble's not bursting right beneath you? You have the gall, after laughing about The What's prediction of apocalypse, to come on here ON THE DAY OF THE APOCALYPSE and talk about BANKS FLUSH WITH CASH?"

Guess the name of the blog should be changed to Gallstoner!

Posted by: TownhouseLady at September 18, 2008 11:42 PM

Whuh--we can only hope you never read or participate in this blog again. My wad of tobacco says "you fail".

Seriously though for anyone else who appreciates this blog...I would venture to say that most people come here to be entertained by and participate in conversation about Brooklyn neighborhoods that we all have an attachment for. If, as looks likely, the economy tanks and real estate prices drop precipitously it will be a rough ride but I will likely still come here and read and write on this blog. What is the deal with wishing so much ill will on people here? This is why the What is not right--regardless of what he predicted in re the banking industry and real estate markets (and plenty of people would say that nothing he said was anything you couldn't have read in the press), his obsession with seeing the lot of us raped or beaten, his turning this into some kind of classist vigilante deathmatch etc, disqualifies him from ever being right.

But then again he was also a form of entertainment, as many have pointed out. there are plenty of ways of looking at it. As long as nobody goes out of their way to attack me personally I can talk with just about anybody.

Posted by: wasder at September 19, 2008 12:49 AM

Whah, I hear ya, but I also have to say that Chase and HSBC are running ads all over including in the windows of all their branches advertising standard mortgages. There is money out there somewhere. I assume that FM is still buying mortgages altho I notice that the big banks seem to hold the highest (best) credit mortgages on their own books. There's a huge mortgage infrastructure in this country and it just hasn't disappeared into the night. Banks still need to loan out their deposits.

I'm not saying all is peachy, you can see a forum post I did yesterday, but you can still, and easily, get a 30yr mortgage. Chase is advertising 5.75 on their website, which is considerably lower than the 6.125 I closed at in December.

If it was true that the banks had no money to lend, or that they needed high profits to re-capitalize, mortgage
rates would be going higher, not lower. Supply and demand and all that.

Posted by: denton at September 19, 2008 7:23 AM

I have worked in banking since 1991. I have worked both on Wall St and in the City (London). Not only have I never seen a financial crisis that compares to the present one, I don't even know anyone who has. I am qualified as a lawyer in three different countries and I have owned property all over the world. My family have been in property for 2 generations and I still don't feel qualified to advise on what is going to happen to the Brooklyn real estate market.

The irony here is that day after day, people who want to buy (albeit at a lower price than they currently can) are telling us why the real estate market is going to be crushed. How are you so certain? There is no certainty in what is going to happen. Whatever measure is put in place with the intention of turning this situation around may stabilize the property market and signal the lowest point in the housing market for NYC, it may even overshoot. The "fix" may also prove to be the greatest failed "double down" in history, and prove catastrophic to not only housing but the financial system itself. Anything between these two points on the spectrum are also possible.

To say there is no money out there is stupid. The Fed is flooding the system with money and banks are selectively lending it. The problem is not liquidity it is solvency. The banks are getting money from the fed because banks don't want to lend to each other because they don't know what their Counterparty's toxic assets are marked at (and therefore if they are "pretending" to be solvent). This is why the deposit taking investment banks have done relatively well while the independent investments bans have failed.

The only certainty is that the solution is grounded in the housing market and that nobody on this site (including me) has any clue as to what is likely in the next 6 months, let alone the next 3 years.

Posted by: think about it at September 19, 2008 8:01 AM

Whuh (Whuhwhat? Huhwhat? Whatuh?), it must really be a sad life you and others like you have that you can't still try to have some positivity in your lives and be friendly with those around you whom you like. Quotes like yours amaze me in the sense, as much as you can't believe Dave, I, et.al., can chatter on as cyber friends, I cannot comprehend how people like you are so negative and bitter. I'm glad I'm not like you. I really am.

For the record, I never denied that housing prices or the market could be in for tough times. My point is, and always has been, no matter what happens, I will have a roof over my head, clothes to wear and food to eat. I will also have my family and friends. You, The What and others seem to have a really hard time accepting that. Maybe you can't say the same thing about your situation and that's why you're so offended by those of us who can. The situation is bad for everyone, but not dire for me...that's just the reality.

Posted by: Biff Champion at September 19, 2008 8:32 AM

Oops, I almost forgot. TownhouseLady, your Gallstoner joke was wonderful. How ya doing, by the way? How's the family?

Posted by: Biff Champion at September 19, 2008 8:37 AM

Think about it wrote: "The only certainty is that the solution is grounded in the housing market and that nobody on this site (including me) has any clue as to what is likely in the next 6 months, let alone the next 3 years. "

Wisest thing written on here in a while. So sick of hearing everyone's pontificating about something that can't be predicted with any accuracy.

Posted by: wasder at September 19, 2008 9:44 AM

Thanks Biff. Har Har! Mine are good, thanks for asking. Yours? Good too I hope!

It's true no one know with any certainty what's going to happen but why can't we enjoy ourselves while it plays out?

Most of us have already made moves to secure our funds in the safest ways possible and now we wait just like everyone else. Granted I'm not making any big money this year but I'm also not losing any so I'm happy.

I mean heck, it's it's going to be all doom and gloom then I mine as well take it with a grain of salt and a smile on my face no? Should I just sit here and cry over my 401K statement? What's the point of that?

Posted by: TownhouseLady at September 19, 2008 10:23 AM

THL, I was going to add in the "Har Har!", but was confident you would be on top of your game as usual and do it. You never disappoint!

Regarding the rest of your post: my thoughts exactly. Life is too short. Hopefully, everyone has prepared as best they can for their future and all we can do is brace ourselves for the worst and hope for the best. If my home drops in value by 80%, I won't be happy but I still won't lose it.

It's great having other cyber (and "real-life") friends like you THL, who get it.

Posted by: Biff Champion at September 19, 2008 10:34 AM

« Co-ops of the Day: Turner Towers Side-by-Side Just Opened: casaBAN »

September 18, 2008

House of the Day: 29 4th Place

Trackback Pings

Comments

Post a comment

Latest Restaurant Additions