Replacing limestone lintel

8:43, here. Can't seem to log on as guest, but it's me, and no, I'm not a broker, just a resident of the area.

This house is small for PPS, but not for Victorian Flatbush, generally. Like I said, it's more similar to its neighbors in BSW and DPW, etc.... Houses in those sections in good nick, however, are still commanding higher price tags than the current asking for the Stratford Rd house.

As for the $975 house, if you think that block is preferrable to Stratford in PPS, you really need to spend more time in the neighborhood. It is spitting distance from Flatbush Avenue, which makes Coney Island Avenue seem like a country lane. Also, what renos that have taken place in that house seem to be Home Depot specials and the exterior needs a lot of work. No idea about the systems, but for that price, you can bet it needs to plumbing and electric. You can get a house relatively cheap in Victorian Flatbush, but be prepared to do the work (which will be considerable) and to spend the same, if not more, for the finished product. Trust me, I've been there.

Posted by: Architerrorist at July 14, 2008 3:10 PM in response to Open House Picks

Apolgogies for the typos.

Posted by: Architerrorist at July 14, 2008 3:13 PM in response to Open House Picks

I don't think it's because things are overprice in theory - things were selling fast and furious at higher prices 18 months ago. People were paying up.

The entire economy has slowed. I would say that things are not selling because things are just not selling - that may mean things would sell if the prices came down, but I'm not so sure. The $975 house has been there awhile, and a couple of others, too. I think people are just being very prudent right now. People aren't buying unless they feel they absolutely have to.

Posted by: Architerrorist at July 14, 2008 4:58 PM in response to Open House Picks

I don't think it's because things are overprice in theory - things were selling fast and furious at higher prices 18 months ago. People were paying up.

The entire economy has slowed. I would say that things are not selling because things are just not selling - that may mean things would sell if the prices came down, but I'm not so sure. The $975 house has been there awhile, and a couple of others, too. I think people are just being very prudent right now. People aren't buying unless they feel they absolutely have to.

One house that sold quickly recently, or is at least in contract, is the two family on Beverley Road. Ask was around $1.45, if I remember correctly. A busy road, but high income rental. Owner's unit renovated recently. Lots of new exterior work. A relatively safe house (rental) in a scary market. I wonder what it is actually selling for.

Posted by: Architerrorist at July 14, 2008 5:00 PM in response to Open House Picks

Yes, that's how Midwood generally rolls for a house like this. Wood frames frequently face the wrecking ball. New stucco and brick homes go up in place. , not apartment buildings, for the most part.

Posted by: Architerrorist at July 15, 2008 1:34 PM in response to Last Week's Biggest Sales

Same story here. Got pre-approved in about 10 minutes, even though my partner just took a new job. We were looking for a bridge loan as well, and that didn't seem to be a problem. We were putting down 10 percent with the bridge, then an additional 45 percent when we paid off the bridge. They didn't give us any grief about the bridge, which I thought they would. Our credit scores are good, but not astonishing. Oh, they also told us we could keep the bridge loan as a heloc after the sale if we wished!

Same documentation required as we needed six years ago. If you're solid, it seems fine out there. They still have to give mortgages to someone.

Posted by: Architerrorist at July 17, 2008 3:38 PM in response to Who is trying to get a Mortgage and what problems you are facing?

What - you are wrong. I just posted above that the Bridge Loan I was approved for is also a HELOC, which was complete news to me. And its for several hundred thousand. We didn't even ask for it. It was just handed to us.

Posted by: Architerrorist at July 18, 2008 9:37 AM in response to Who is trying to get a Mortgage and what problems you are facing?

What - you are wrong. I just posted above that the Bridge Loan I was approved for is also a HELOC, which was complete news to me. And its for several hundred thousand. We didn't even ask for it. It was just handed to us.

I think people with good track records are getting the red carpet treatment. I've had 2 helocs and 5 mortgages with clean records in the past 12 years.

Posted by: Architerrorist at July 18, 2008 9:39 AM in response to Who is trying to get a Mortgage and what problems you are facing?

East 17th is actually a pretty block. Unfortunately it is in Beverley Square East, which aside from South Midwood, is the least desirable of all the Victorian Flatbush neighborhoods. It's a stone's throw from Flatbush Avenue, many of the homes have had unfortunate renovations (including the current listing, although it's one of few that's suffered on that particular block). It also has one of the least active community associations. Particularly of note, the residents do not have a private security outfit operating in the neighborhood, which most others do. I live here and am not 100 percent sure how necessary the private security is, even though I subscribe, but I wouldn't want to live in a sub-section that didn't have that option. It would be a deal breaker for me, personally.

People who can throw 1.4 at a house would rather buy in DPW or BSW if they can't quite afford DP or PPS. Overpriced for BSE. Price is sure to free fall several hundred thousand.

Posted by: Architerrorist at July 18, 2008 5:24 PM in response to Open House Picks

Brooklyn Properties describes the East 17th house as "mint condition." I can only assume they're referring to the interior, which isn't pictured. The exterior is hardly what I would describe as mint. Siding, brick porch enclosure, etc... A perfect example of "remuddling," and exactly what landmarking is trying to prevent!

Posted by: Architerrorist at July 19, 2008 7:54 PM in response to Open House Picks