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September 4, 2008

Open House Picks: Six Months Later

OHP-sixmo-022908.jpg
Other than the Windsor Place sale, not a lot of reasons to cheer. Correction: We just got an email letting us know that the Parkside house is actually in contract, allegedly for the asking price of $1,175,000 for an unknown price.
Open House Picks 2/29/08 [Brownstoner]




Posted by Brownstoner at 10:59 AM | Comments (26)
Categories: Open Houses

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Comments

Commenters 6 mo ago were unanimous in ridicule for CH place.

Others said WT home would be 1.3 tops (except Mrs. Limestone...). Think what this shows is nice properties in established neighborhoods are moving, albeit slowly, but (as predicted) the "up-and-coming" areas like PLG are dead. At 1.5 mil it's a nice buy, judging from the old pics.

Not saying the PLG homes aren't worth over 1 mil., but there just aren't any buyers right now. Those price cuts aren't enough to make people take a second look. Try 1.2 and 1.1 and see what happens. (my guess is still nothing...)

Posted by: Bolder at September 4, 2008 11:12 AM

Agree with Bolder. That's a pretty healthy price for the WT place. Glad to see it.

Posted by: FatLenny at September 4, 2008 11:19 AM

If memory serves this WT place is a cut above yesterday's House of the Day that's asking a similar amount though.

Posted by: lowintheheights at September 4, 2008 11:42 AM

You are right. Yesterday's HOD was only a 1 family and was asking for more than this Windsor Place (a legal 2 family) sold for. Brokers seem to be stuck in a time warp and think it is still 2005.

Posted by: muffin at September 4, 2008 11:48 AM

OK, property isn't flying off the streets, but I know of 4 houses in Lefferts Gardens that sold in the last year. Three of them are on the same block as 30 Midwood. Probably there were a few more that I don't know about.

Also, if you look at BHS and Corcoran websites there are only 4 houses in total that are in prime PLG, this indicates a shortage of properties for sale - owners are holding off in this tough market.

Posted by: LM at September 4, 2008 11:50 AM

Glad to see this feature is back. I think it's really helpful and interesting.

One suggestion, for those identified as "in contract," it would be good to identify the source (e.g., per broker, per seller,), since I don't think there are official records until the deals are closed. (right?) Also, maybe a date the contract was signed, since it could be anywhere between February 30 and Sept. 3, and it would be interesting to know how long it took to sell.

Anyway, thanks for bringing this back.

Posted by: LOL at September 4, 2008 11:50 AM

"Not saying the PLG homes aren't worth over 1 mil., but there just aren't any buyers right now."

Quote of the day.

Posted by: DOW8000SP800 at September 4, 2008 11:51 AM

Yes and no.

This one is on a better block, closer to the park, a generally nicer place, has an extra floor (a rental).

Yesterday's had that HUGE yard. They are really quite amazing when you see them. I think the right buyer would find it worth spending for, but I agree the price difference is too large.

By the way yesterday's house was actually not WT, but South Slope.

Posted by: MR at September 4, 2008 11:53 AM

Actually, the PLG place on Parkside says it's in contract.

The Midwood place will sell. Those houses are beautiful. Tons of potential for design enthusiasts. One house on that block that was gut renovated and on the house tour this year was breathtaking, like out of a magazine.

On that note, some sales baffle me, like the Windsor Place house. Other people have other priorities, but aesthetics are important to me in daily life. It enriches quality of life, mood, my productivity. Makes all the pain in the rear tasks of owning an old house feel worth it, when a house is very pretty. So I just could never spend $1.5 million and get no details and nothing special. No wow factor.

Posted by: traditionalmod at September 4, 2008 12:00 PM

Not a lot of reasons to cheer? C'mon Mr B: you assume we're all sellers here. I'm no What, but I'm definitely hoping the market will eventually stoop to my level.

Meanwhile, I would love it if you all added a specific category for the sixth month follow ups. I find them far more interesting than the Open House picks.

Posted by: amanda at September 4, 2008 12:00 PM

Sometimes the people who give us info about props in contract don't want to be id'd

Posted by: brownstoner at September 4, 2008 12:01 PM

I agree with Amanda. Prices coming down is a reason to cheer for plenty of people.

Posted by: dittoburg at September 4, 2008 12:09 PM

On the claim people aren't buying in PLG, one neighbor who sold recently had about 40 couples come see his house, all young professionals mostly from Manhattan, in finance and banking and business. There is a ton of interest in PLG. So there, that's an actual true story anecdote, not a speculation from the outside looking in.

Posted by: traditionalmod at September 4, 2008 12:09 PM

I love PLG, but there are several houses that have been pulled off the market because they haven't attracted offers.
73 Rutland, 216 Midwood. . . along with other sellers who are hunkering down for now.
The people at 30 Midwood may wind up being the first ones to ever lose money on their place, once they pay the brokers and taxes.
Does that mean the sky is falling? No. But things are definitely tough out there.. ..

Posted by: ontheparkway at September 4, 2008 12:10 PM

In my (sometimes faulty) memory 272 Windsor had a little more character than reflected in the photos. OTOH it also had a kitchen you'd most likely have to gut unless you were in a wheelchair or were very very short. It also abutted a school which could be a plus

I think the market values WT higher than this board does. Nice housing stock, safe, and very near the park. I'm not surprised people like it. But now I'm in broken record territory.

Posted by: MR at September 4, 2008 12:15 PM

It also abutted a school which could be a plus or a minus.

is what I meant to say

Posted by: MR at September 4, 2008 12:17 PM

Correction MR... yesterday's house is in WT, not "South Slope"...

Posted by: bren at September 4, 2008 12:21 PM

Mr. B --

It's fine if the source doesn't want to be Id'd. But, if that's the case, you should say so. If you're putting it up as a "fact," and nobody wants to have the "fact" attributed to them, that should be known.

For whatever it's worth, your blog has become a source of news, so facts without attribution, should at least be identified as such. Maybe just say "per anonymous tipster" if there is no attributable source.

Posted by: LOL at September 4, 2008 12:26 PM

Between 8th & 9th if I'm not mistaken is South Slope. WT starts on the east side of 9th ave. Right?

Posted by: MR at September 4, 2008 12:27 PM

I saw the WT house.
It was in my price range, but not worth 1.49

Posted by: CobbleHilller at September 4, 2008 12:41 PM

LOL--I don't think there is any hidden, secret agenda with people not being ID'd as the source of sales info. if people were identified as the source of the information on house sales then everybody would know who the buyer and seller were and could go on Property Shark and find all kinds of things out about them. Would you want your email or other personal information out on the web where any lunatic could harass you? Not saying that Property Shark gives out emails but once you know who an owner of a property is its probably not too tough to find personal info out.

Posted by: wasder at September 4, 2008 12:43 PM

Wasder -- I'm not suggesting that he identifies the person by full name, just say "per buyer" or "per seller" or whatever. If it wasn't public before, that won't give anything away.

Posted by: LOL at September 4, 2008 12:50 PM

who cares about the source? this is basically just real estate gossip, not hard news.

Posted by: z at September 4, 2008 12:58 PM

Well we could also take Brownstoner at his word but I hear you.

Posted by: wasder at September 4, 2008 1:24 PM

What source lists 272 Windsor as in contract?

Posted by: SnarkSlope at September 4, 2008 2:13 PM

Well, if 272 Windsor is in contract, i somewhat take back my comment that no one is buying. I only based that on what I see here; but if people are buying in PLG, that's a good thing. If homes are trading at a huge discount to ask, that's still OK by me. So long as there are buyers and homes aren't falling into disrepair or foreclosure...

Posted by: Bolder at September 4, 2008 3:28 PM

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