Open House Picks: Six Months Later

Comment: Grim.
Open House Picks 6/27/08 [Brownstoner]
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I think 4th street needs to come down to $2.5MM at least.

Posted by: FatLenny at January 2, 2009 12:42 PM

It's only "grim" if you are a seller. If you are a renter looking to buy it's "great."

Posted by: commenter3 at January 2, 2009 1:02 PM

Yup, those sellers are wasting their time and making a big mistake by not chopping their prices much more drastically.

A further 25% reduction at a minimum would be needed to even attract interest.

Posted by: IronBalls at January 2, 2009 1:58 PM

I mean seriously.

Does the seller of the 4th Street house really think dropping from 2.99 to 2.8 will make any difference in this market?

If it were my house, I'd list it at 2.5 and hope for a bidding war.

Posted by: IronBalls at January 2, 2009 2:01 PM

Or they could list it for a reasonable price in the first place. Would this house (the PS one) have sold for this much during the peak even? It's more than 1k per square foot, if my calculations are right.

Just because people list houses for insane amounts and then have to reduce the price doesn't mean the housing market is bad.. Look at the 6 month ago thread, everyone's already ranting about how all of these places are overpriced.

Posted by: justinm at January 2, 2009 3:38 PM

You folks think THESE reductions are anything? Wait until winter 09. Especially in the less desired areas, prices will drop another 30-40%.

Posted by: Prodigal_Son at January 2, 2009 4:10 PM

PS,

I agree prices could keep on tanking due mostly to the law of gravity.

Just for the record, you do realize it already is winter 09, don't you?

Posted by: IronBalls at January 2, 2009 6:30 PM

Yeah, balls...

Sorry I meant, 11/-12/09. Not now.

Posted by: Prodigal_Son at January 2, 2009 7:26 PM

Significant cuts here except for that 4th street house which in our opinion needs to be around $2m even..yeah we know that is bearish but thats the reality these days.
Infact we predict all these places will see further cuts in the 20% range. Prodigal Son 40% seems a little too bearish no?

Posted by: pierre de taille at January 2, 2009 8:20 PM

I guess with the holidays and all one shouldn't expect many comments, but damn, not one sale and only 9 comments. That in itself is a pretty good indicator of how bad the market is right now.

Posted by: Brooklynnative at January 2, 2009 8:46 PM

I really like these crown heights listings, but I cant imagine paying anything close to these prices....

Posted by: slick at January 3, 2009 12:40 AM

Where do you find the current listing for the Bed Stuy place? It seems to be expired.

Posted by: mopar at January 3, 2009 11:29 AM

I think the BedStuy house is listed here....

http://www.3location3.com/open-realty/listing_browse.php?prop_option=For%20Sale

Posted by: BedStuyGal at January 3, 2009 4:55 PM

Too bad for the sellers in PS. That's a gorgeous house. They'll still make money, I'm sure, but no doubt they're worried stiff right now. At this point I can't even hazard a guess what it might bring...

Posted by: Bolder at January 4, 2009 11:26 AM

« What's Up at 113 Prospect Place? Open House Picks »

January 2, 2009

Open House Picks: Six Months Later

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