Last Week's Biggest Sales: Closing Time at One BBP

Where is a 600K cut? Am I missing something?

The South Elliot Place sold for a little more than 400K under the initial asking price, but they MADE 400k in owning it for 12 months!!!

Sounds like a great deal, considering all of you say the top of the market was over 2 years ago.

Think about it...400K in one year.

Posted by: 11217 at October 14, 2008 11:58 AM

"My point is look at the price the guy paid and what he sold for that shows me prices have gone up. Not down ."

Sure Sebb, but you also have to look at the year the person paid said price. By your logic, you can say that someone in 1976 paid 30K and sold in 2008 for 3 million, thus the market is going up.

Not everyone bought in 1976 though. There are MILLIONS of people who bought in the last couple years who will not be able to sell for a profit.

You don't seem to be able to look rationally at this and continue to say that no matter what prices are going up. While it makes sense for this particular Ft. Greene example, it does not for all. Take a look at the Mary Stuart Masterson house. With commission to her broker, she did in fact lose thousands of dollars.

Posted by: 11217 at October 14, 2008 12:09 PM

"but maybe rich euro trashites, clueless Manhattanites and empty nest surburbanites are its main victims???"

And those are exactly who have allowed for the Brooklyn (and NYC) housing market to not implode over the past couple years like it has in the rest of the country.

Ever heard the saying..."don't bite the hand that feeds you"

Posted by: 11217 at October 14, 2008 12:22 PM

Billyboomer, I'm guessing by your name that you live in Williamsburg? Who exactly but "clueless Manhattanites" do you think have been buying all of the hideous garbage that's been slapped up in Williamsburg over the past 10 years?

Personally I'm glad they did as it's transformed much of Brooklyn into a livable place again, but you need to take a look around you dude.

Posted by: 11217 at October 14, 2008 12:24 PM

You are ridiculous, Sebb.

Sorry, but you seriously must be a broker, because it's clear now that you are totally unable to think rationally when it comes to the real estate market. Either that, or you don't read the news.

Posted by: 11217 at October 14, 2008 12:40 PM

Sebb,

I have to wonder how you can have such distasteful words to describe brokers. You DO REALIZE that they are a significant factor in your idea that prices continue to go up. While creditors and sellers certainly played a major role in the latest housing boom, do you not realize the role that the real estate industry played in feeding into the notion of ever higher prices?

You despise them, yet they are literally the ONLY people right now in your camp. And even most brokers have now wised up and would have a hard time telling you in the eye that the real estate market in NYC is headed for a major downturn.

Posted by: 11217 at October 14, 2008 1:11 PM

That should say that most brokers would have a difficult time saying that the market isn't going down...

Posted by: 11217 at October 14, 2008 1:13 PM

Sebb,

Nothing you say could upset me. This is an anonymous blog and we are all free to speak as we wish. I never said you were a broker, I simply stated that your outrageous and irrational thoughts are similar to that of a salivating broker, circa 2004.

I am certainly not the only person who disagrees with you, and in fact it would seem most people have realized how nuts your comments have become, and have simply stopped responding.

I almost think your comments have to be a joke. That's how crazy they are.

Posted by: 11217 at October 14, 2008 1:42 PM

Sebb,

The site has changed because we are now in the throws of what may be the worst economic disaster this country (and world) have seen in over 70 years.

Get a clue.

You REALLY need to read the news and get your head out of the sand.

Posted by: 11217 at October 14, 2008 3:15 PM

Wine Lover...Williamsburg is not my favorite, no. And I applaud you for finding a good quality place there that you love...I did not say that nice places don't exist, but if you can't admit that there are an overabundance of poor quality and poorly designed buildings there, then you are a little dellusional, in my opinion. Enjoy your place. I find your defensive attitude "really weird." If you love it, what do you care what I say about it??

I've spent a lot of time in Williamsburg (friends, ex boyfriends there, etc) and it's one of my least favorite parts of the city. It doesn't mean there aren't nice qualities, but it's not for me, and I'm allowed to express that opinion. Feel free to say as many derogatory things as you want about Park Slope, but I will not call you weird for saying such nor will I care. Everyone has different tastes. (And btw, I looked at almost 50 apartments before I bought mine, so no clue why you'd suggest that I would not have looked around a bit before buying). THAT is also kinda weird.

And Sebb,

I do not rent. I own and I bought in 2006. I am fully aware of the situation, and am also fully aware that if I look to sell in the next couple years, I may be taking a loss. So your renter argument is not really valid here. Nor are most of your other points lately.

Posted by: 11217 at October 14, 2008 4:57 PM

P.S. I won't even go into the fact that this site is 90% dedicated to "pieces of sh*t" pre-wars" so I have to wonder why exactly you come here with such frequency.

Posted by: 11217 at October 14, 2008 5:00 PM