Brooklyn Sales: Under a Million

I agree with FLH -- the sale of that Rutland Road house for under a mil was an excellent deal.

Posted by: Brooklynista at May 21, 2009 2:34 PM

Right shillstoner! I'm proudly consistent in the praise of my neighborhood and its beautiful housing stock. Plus, Rutland Road happens to be one of my favorite blocks in all of PLG/LM. (And, no I don't live on Rutland Road. And, no, I'm not a real estate agent or looking to sell a house in PLG/LM). I got a chance to see 49 Rutland (which went for 1.4+ Mil at the height of the bubble) while it was undergoing a major reno. Using that as my comp, I consider sale of this house -- same block, same 4 stories, but what looks to be in move-in condition and post bubble -- to still be worth more than 1M. The fact that someone was able to purchase it for over $400K less than 49 Rutland (even in this market) still makes it a great deal in my book. I thought that it was great price when it was featured as HOTD for 1.2M and a "steal" at the price for which it actually sold. Doesn't matter to be a bit that you don't agree!

Posted by: Brooklynista at May 21, 2009 3:45 PM

Shillstoner, please get a grip! Or, at least take your meds! Even if you think it "so sad" that some folk on this board have a way at guessing today's "market value" that differs from yours, there's no need to get your bloomers in such a knot over it.

Look, because I love my neighborhood and love Rutland Road, I am only telling you what I would be willing to pay for one of those houses IF I were in the market and IF I could afford it. But since I'm NOT in the market for a Rutland Road house and wouldn't be able to afford to buy one right now even if I were, I am only joining others who are playing a silly online guessing game of what a house should go for in this current, very undecipherable, real estate market. I would think that the nonprofessionals who are playing this guessing game are bringing all kinds of variables into the mix that help them pick a number. I have no idea how you arrive at your guestimates, but shouting at those of us who may disagree with you, most certainly won't win we me over. And, just as surely, you haven't offered any convincing proof of why I should give your opinions any deference anyway.

For the last time: I think the buyer who got this 4-storey house on Rutland Road for less than a mil got a steal. If I'm wrong, I'm wrong. But, please, don't let the thought of my delusional pricing scheme bother you so much. It ain't that important.

Posted by: Brooklynista at May 21, 2009 4:52 PM

Gee, Shillstoner, we've been sitting on our investment for over 20 years at this point and, in that time, we've seen it multiply increased several times over. Although we have no interest in selling our house(the plan is that our daughter will eventually inherit it), I won't deny that I take a certain amount of joy in having seen our investment grow over the years. BTW, we bought during a real estate a bubble and lived through a near decade of a busted bubble. And, guess what? We're still here! That's because, for us, it was always a lifetime investment not some online guessing game about which way the market would go for us. Meanwhile, rather than being worried about the value of our home 20+ years later, we're actually delighted that we already own a property in 2009. Sorry, but we think that's neither a rationale nor pathetic.

Now why don't you move along, Shillstoner, to some other shill argument over a shill stone rowhouse you're itching to have? Clearly, there's nothing more for you here.

Posted by: Brooklynista at May 21, 2009 5:17 PM