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December 10, 2008

House of the Day: 1123 Glenwood Road

1123-Glenwood-Road-Brooklyn-1208.jpg
Flip time! This amazing-looking Victorian at 1123 Glenwood Road (at Westminster) just sold for $1,185,000 last February. While the exterior is lovely, the interior looks like a mixed bag to us. The living room, above, looks lovely with tons of original detail; some of the other (tiny) photos on the listing show some questionable attempts at modernization. Still, cool pad. The question is why the seller thinks he can get $1,359,000, an increase of 15%, in a much worse market. Theories?
1123 Glenwood Road [Century21] GMAP P*Shark




Posted by Brownstoner at 1:14 PM | Comments (19)
Categories: Ditmas Park, HOTD

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Comments

The size of the photos is a tactic on the same level as a college student trying to expand his or her paper by printing it in triple spacing. Do you think we wouldn't notice?

Posted by: nk at December 10, 2008 1:19 PM

those photos are headache-inducing. blurry and the size of a postage stamp? why are some brokers so completely clueless?

Posted by: z at December 10, 2008 1:21 PM

Well, the minute I saw it pop up as a century 21 listing I knew it'd be worthless.

Posted by: daveinbedstuy at December 10, 2008 1:30 PM

even worse, those photos are identical (and now even smaller) than when it sold the first time around!

It's like they're not even trying to sell the place. The new owners are going to take a proper bath on this one.

Posted by: the chicken at December 10, 2008 1:33 PM

And yet, to be devil's advocate....the house is huge and DOES have some great rooms. And also considering that smaller places in PS/CG are still higher right?

Posted by: nk at December 10, 2008 1:35 PM

Was it worthless when MKG sold it first time around? Actually this place has been on the market literally for years... First sale, then various brokers have had it for the past year. It's a huge legal two family - may have been built as a two family, in fact. There are a few of those in Victorian Flatbush. Needs A LOT of work, but the rental is huge and would be significant income.

Glenwood Rd has malls, which I love, but it's kind of close to CIA and Glenwood is on the border of Midwood, so a hike for Cortelyou and Prospect Park.

Posted by: Architerrorist at December 10, 2008 1:36 PM

Also, I would expect traditionally crappy agencies like Century 21 and Fillmore to start getting better listings. In this market, the lower commission actually means something to sellers. No one is getting those sky high prices that justify 4-6 percent. If I was buying, I'd be scouring those agencies for the ones that slip through the cracks - that coupled with tumbling prices and great mortgage deals might make for a really buyers coup.

Posted by: Architerrorist at December 10, 2008 1:44 PM

If this houses needed a lot of structural work (which I think it did) and that was done, but not the cosmetics, the sellers might justify their asking price - although it is always harder to recoup money spent behind the walls.

Posted by: Architerrorist at December 10, 2008 1:47 PM

I love the outside but the inside looks like a madhouse. Is that a 1930s Tudor renovation over the original Victorian living room? Then again, it wouldn't be hard to strip off the wainscotting.

Posted by: mopar at December 10, 2008 2:14 PM

And what is going on with that bathroom? The walls look like they're covered in ectoplasm.

Posted by: mopar at December 10, 2008 2:15 PM

That sort of woodwork is original to many of these houses, which you must remember, are mostly transitional (1900-1915), rather than hardcore Victorian.

Bathroom is very scary.

Posted by: Architerrorist at December 10, 2008 2:48 PM

To it's credit, I will add that this house is opposite a truly beautiful church.

Posted by: Architerrorist at December 10, 2008 2:49 PM

A good house if you are looking to open a Bed & Breakfast, or if you have eight or nine kids. People still do have large families in Brooklyn. I would say for 1.1 million you will be getting lot of room for your buck.
But I would only buy it if it came with a live-in super.
Just the idea of maintaining a house like that wears me out.

Posted by: sam at December 10, 2008 2:54 PM

needs to get out, hoping for the best, this screams desperation, offer low.

Posted by: BrooklynLove at December 10, 2008 4:43 PM

"And what is going on with that bathroom? The walls look like they're covered in ectoplasm."

Maybe I need new contacts but I can't see anything in that picture beyond bad colors and spots on the wall. You whippersnappers have sharp eyes.

Posted by: nk at December 10, 2008 4:55 PM

"The question is why the seller thinks he can get $1,359,000, an increase of 15%, in a much worse market. Theories?"

Memento from blunt force trauma to the head suffered in 2006. He keeps losing his notes.

***Bid half off peak comps***

Posted by: Brownstones Half Off at December 10, 2008 11:30 PM

Has the house had new mechanicals, wiring, plumbing,etc... Hard to get your money back, but I bet this house needed/needs it.

Posted by: Architerrorist at December 11, 2008 9:07 AM

Sam:
We have one of these. We have no super. We ARE worn out. Our gas "budget plan" is over $600/month. Not money pit, money * furnace.* Word to the wise. (On the other hand, we have a rental unit plus so many extra rooms that we have to give them names, "Tool room," "sewing room," etc....and we get lots of exercise running for the doorbell when UPS or the meter guys come.)

Posted by: Brenda from Flatbush at December 11, 2008 9:22 AM

Brenda, your house is huge and would probably benefit from updating mechanicals, insulation, new windows, etc... which would bring down the fuel bills you're always going on about. If you're going to live in Victorian Flatbush and refuse to renovate, you're going to pay for it. Deal.

Posted by: Architerrorist at December 11, 2008 2:27 PM

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