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September 11, 2009
Open House Picks
Brooklyn Heights
36 Joralemon Street
Brown Harris Stevens
Sunday 2-3:30
$3,800,000
GMAP P*Shark
Park Slope
505 4th Street
Warren Lewis
Sunday 12-2
$2,450,000
GMAP P*Shark
Ditmas Park
754 Rugby Road
Donawald Realty
Sunday 12-1:30
$995,000
GMAP P*Shark
Prospect Lefferts Gardens
63 Sterling Street
Corcoran
Sunday 2-3:30
$685,000
GMAP P*Shark
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Comments
I get the feeling the Rugby Rd house is nice altho you'd never know it from the listing. I have no idea about any of these prices. I just looked thru a bunch of new co-op listings in Brooklyn Heights and they are priced right where they would have been 18 months ago. I think the strategy is now: price high and accept 20% under. Everybody comes away feeling like a winner.
Posted by: Ringo at September 11, 2009 1:18 PM
I wouldn't mind that 4th Street house one bit.
Totally lovely.
Posted by: 11217 at September 11, 2009 1:23 PM
Except that 6 months from now, sellers may need to accept 30% lower, and 1 year from now 40% lower. Not saying this going to happen for sure (of course no one knows), but that is the gamble for sellers. We've made low-ball offers (30-35% below ask) and had sellers rebuff us, only to have their properties linger. Will they regret that? Only time will tell. For us, as buyers, we see more houses come on market, (granted, slowly, at prices that are creeping down), and wait patiently.
Posted by: Miss Muffett at September 11, 2009 1:24 PM
11217: - am surprised you dig 4th street house so much
I think the facade is out of this world and the "bones" of the house magnificient" but then you would need a good chunk of change to really upgrade and make it fabulous, no?
Posted by: gemini10 at September 11, 2009 1:26 PM
Actually, a correction: our "lowballs" have actually been more "reasonable" - more like 25-30% off and still scorn from sellers. Whatever - we're patient, calm and confident.
Posted by: Miss Muffett at September 11, 2009 1:28 PM
MM, I've been getting acceptance on 20-25% low-ball offers on relative decent asking prices but got cut off by deep pocket buyers again - all-cash or 50% down offers. Oh well, at least they didn't beat me with a higher offer.
Posted by: more4less at September 11, 2009 1:33 PM
Gemini,
I didn't get that impression. I thought it looked great as is. It's not totally my style, but think I could make it work. :)
No one really knows till they see it in person, but I think it looks like a total winner!
Posted by: 11217 at September 11, 2009 1:33 PM
Rugby Road house is very nice, but that's West Midwood, not Ditmas Park. Seems like one of the more reasonable asking prices I've seen lately.
Posted by: Sparafucile at September 11, 2009 1:35 PM
Gotta agree with Muffett. . . It's just a matter of time.
30-40% price reductions in the next several years, partly offseting the 300% price increases we saw over the last decade is certainly a reasonable and conservative guess.
Posted by: IronBalls at September 11, 2009 1:35 PM
Thanks M4L - that's good news for us since we can put a lot of cash down (and if price is right, pay all cash). We've gotten a bit more aggressive as time goes on, but I guess 25% off our dream house, if it's a reasonable ask, might work - of course it all depends on the exact house. And "reasonable ask" are the key words. I am still quite shocked by some of the asks out there. Luckily, a few brokers/sellers seem, slowly, to be coming back down to earth, and I believe they are are the avant-garde of what is going to inevitable for other sellers...
Posted by: Miss Muffett at September 11, 2009 1:38 PM
MM, a bit of clarification. the reason for the reasonable ask is I've been looking at more run-down ppties that require more renovation. I assume and got some confirmation those sellers know it's appealling to a smaller set of buyers (vs. a nicer move-in ready place) hence some of them are more reasonable on the ask and more ammenable to the 20-25% hair cut. was a little surprised to run into deep pocket buyers at these more modest houses I was looking at. Guess they cant resist a good deal when they see it
Posted by: more4less at September 11, 2009 1:47 PM
that 4th street house would give you the ultimate storage space for all your long blonde wigs, 11217. with the amount of money you pay to keep them in external storage facilities you could totally come up with a nice down payment on it!
*rob*
Posted by: Butterfly at September 11, 2009 1:52 PM
Ooooh... What quaint little homes.
Posted by: tybur6 at September 11, 2009 1:57 PM
i liked the fourth street house until i saw that weird-ass floorplan. wtf is up with the top two floors? kitchen off the master b/r? weird.
Posted by: CG_ups at September 11, 2009 2:03 PM
11217 - give it a closer look
seriously the place is all CHAIRS!
I know am sooo horrible,
but the oddly chosen furniture that is supposed to look staged but really it doesn't b/c it's all friggin chairs. The old TV sitting on a small TV wheelie stand. Oh, and the old black appliances with the 60's cabinets all give it away.
aside from those small details, I still think it's a great old house you would just need the bucks to make it really fun
Posted by: gemini10 at September 11, 2009 2:03 PM
What upgrading does the 4th St house need? Looks pretty fab to me
Posted by: dirty_hipster at September 11, 2009 2:04 PM
not a diss on that joralemon house the other day but for an extra $100k, would rather take this 4th place house anytime, any day,...
Posted by: more4less at September 11, 2009 2:11 PM
DH:
you like those cabinets? and the appliances from 1992?
Sure I wouldn't care either if the house was being sold for $600K - but this joint is over the 2.4 million dollars and now I would have to pour $50-75K to upgrade that kitchen
and who knows WHAT the bathrooms look like
Posted by: gemini10 at September 11, 2009 2:19 PM
g10, 600k? you meant 1.6M right?
Posted by: more4less at September 11, 2009 2:26 PM
noooo
b/c at 1.6, wouldn't you still want a nicer kitchen and presumably bathrooms then those in that pic
sorry - I will stop as I am being nitpicky
I just think 2.4 mil for that house is steep
Posted by: gemini10 at September 11, 2009 2:29 PM
i guess i'm tacky g10 ;)
Posted by: dirty_hipster at September 11, 2009 2:32 PM
g10, 600k would be much cheaper than your old place. if compared to your place this is 600k, then damn, should've taken your offer to buy your place then
Posted by: more4less at September 11, 2009 2:33 PM
MM - vanguard
Posted by: dittoburg at September 11, 2009 2:35 PM
Awww, is the kitchen THAT bad? It's inoffensive, not depressing. I know Miss Muffett would say "total gut job immediately!" but she has to say that or she'd lose her personae. Though, yes, I agree, many spending this much would want to put $50-75k into the kitchen which may mean the price is too high by that much plus maybe more, I don't know.
But I bet you could make it a whole new room for $30k -- paint or refinish cabinets, change hardware, new countertops, maybe new floor (can't see what's there). Fridge doesn't look like from "1992," so just new stove and dishwasher.
It's a beautiful house.
Anyway, I like the little Prospect Lefferts Garden one which DOES need a whole new kitchen.
Posted by: Nomi at September 11, 2009 2:43 PM
Nomi
agreed on all points above :) I like that PLG house as well
DH - you aren't tacky at all-hahah
M4L - eee- gad!
Posted by: gemini10 at September 11, 2009 2:48 PM
Yawn, Miss Muffett. We hear you. We get your game plan. We've been hearing it for well over a year now, and whether it's true or not, it's sooooo old. Please have brownstoner devote an entire entry to your fab purchase, complete with pix, when you finally make a deal. Then I'll be interested.
Posted by: Architerrorist at September 11, 2009 2:49 PM
There are quite a few Ditmas Park area houses that are now under the 1 million mark, including the derelict/half renovated Queen Anne in PPS that started considerably higher. Also believe that the large cream Victorian on Albemarle that was asking around 2.3, is now under contract, having lowered ask to 1.75 or around there.
Posted by: Architerrorist at September 11, 2009 2:51 PM
I don't know Ditmas Park/West Midwood that well, but I do know this stretch of Rugby Road between Foster and Ave H. It's rather nice. However, one real downside to this house is that it appears to lack a driveway or garage. It also seems form the outside to be skinnier than other houses in the area, but it's hard to tell for sure.
Posted by: Boerumresident at September 11, 2009 3:02 PM
Those house on Sterling St are very cute, but not in the historic district. But a nice alternative for people looking for a one-family in PLG, not in the Manor.
Posted by: babs at September 11, 2009 3:11 PM
Boerumresident,
I agree that that stretch of Rugby Road is nice. The house does appear to have a driveway on Gmap - think it is the angle of the photo in the listing.
Posted by: etson at September 11, 2009 3:26 PM
Yeah nomi, that whole ad is a scream. It's certainly not 'tribeca modern' by any stretch. OK in its own right, but let's call it what it is.
Posted by: denton at September 11, 2009 3:31 PM
Babs,
Sterling I (Washington--Bedford) was in the original proposed historic district, as outlined by the LPC c. 1975, but was left out (rather inexplicably IMO). Its a very nice block and VERY quiet, because it ends at Washington, rather than Flatbush. Relatively few people drive down it to go anyplace else. It has houses like this HOTD on the north side, two story brownstone/limestone houses on the south and lots of huge trees.
Posted by: Bob Marvin at September 11, 2009 3:45 PM
On GMap it looks more like a paved over car park in the front rather than a full driveway to a rear garage. Still, it's better than nothin I guess.
Posted by: Boerumresident at September 11, 2009 3:45 PM
Rugby Road has a garage which is next to the house, rather than in the rear. I like this setup, since it means you pave less of your lot and have more room in back for landscaping etc.
Posted by: Sparafucile at September 11, 2009 4:02 PM
Wow. I really like the Rugby Road house at that price.
Posted by: HoneysuckleWeeks at September 11, 2009 4:40 PM
I wish there were better pictures of the Rugby Road house.
Posted by: Nomi at September 11, 2009 11:18 PM
Too bad for the Rugby Road sellers that there's no subway service on the Q train this weekend. Besides making it difficult for people even to get there, it reinforces the impression of the area as being remote and inaccessible.
Posted by: Sparafucile at September 12, 2009 10:50 AM
Obviously, not having the Q service is a temporary but necessary inconvenience in order to repair the tracks and stations along the route. If someone knows how to repair and improve the tracks without stopping service, please advise the Transit Authority. However, there are buses into the area including the shuttles that will replace the train service. You can also just take the IRT to the Junction and walk over to this open house. Most buyers interested in houses in this area generally speaking will have cars and can drive to open houses though. Even if the trains were in service, I don't know that this house would get that much traffic at that price/condition and being further away from Cortelyou.
Now, if you really know Brooklyn, which extends far beyond Prospect Park, you would not consider this area remote or inaccessible. Remote would be City Line, maybe the Paedergats and Sea Gate. Inaccessible would be -nowhere in Brooklyn. You can take a train and/or bus to get anywhere in the borough.
Posted by: Chaka at September 12, 2009 3:40 PM
Wow Chaka, Go Brooklyn Booster Club! Do you work for Marty?
Posted by: tybur6 at September 14, 2009 8:20 AM
Did any one check out the house on Rugby?
Posted by: Boerumresident at September 14, 2009 9:24 AM
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