Adam what is your e-mail address and phone number. I am looking at refinancing. Thanks

Posted by: Aussie at May 4, 2009 9:41 PM in response to Despite Low Interest Rates, Few Refinancings in New York

Yep Dave Singapore. Same firm. Busy as hell, but like everyone else mainly restructurings and hedging. No risk being taken.

Posted by: Aussie at January 31, 2009 11:03 AM in response to Open House Picks: Six Months Later

DOW (BHO)I have a lot of respect for your analysis (way of thinking) but you still only have a 50% chance of being correct. Signs of a property stabilazation before June will mean we are backing away from the cliff. As you know trends turn on a spike... the case-Killa acceleration could well be that spike.

New York is not the only place "holding on". Houses in major Asian centers have not dropped (just showing signs that they will). I was looking to buy or rent here 4 months ago and have held on as long as I can for the drop that hasn't come. Today I signed a lease for a place for SGD8000 per month. That's a lot more then for an equilavent place in NYC. Even if it drops 15% it'll still be more than NYC. Somehow that doesn't make sense to me.

Posted by: Aussie at January 31, 2009 5:17 AM in response to Open House Picks: Six Months Later

Hi Dave, yeah I have left town ...now in Asia and having the placed looked after. The boiler is leaking at the base like you say, so it is being replaced no water is coming out of the hot water taps or the cold water taps. Strange that they have frozen (all the heating has stayed on) but sods law that the first time is when I'm away.

Posted by: Aussie at January 19, 2009 11:55 AM in response to Burst Boiler AND Frozen Pipes?

Whether you think things will go to shit in 2009 and believe it will be your worst year or you believe it will be your best yet....either way ... you are right.

Posted by: Aussie at January 1, 2009 4:23 PM in response to 2009 Predictions and Resolutions?

I think this building is OK. In proportion, good location, replaces a vacant overgrown lot. Man he built it fast. It's not a brownstone but considering some of the horror shows that have been built close by...

Posted by: Aussie at December 28, 2008 8:19 AM in response to Closing Bell: Working on Christmas

I think this building is OK. In proportion, good location, replaces a vacant overgrown lot. Man he built it fast. It's not a brownstone but considering some of the horror shows that have been built close by...

Posted by: Aussie at December 28, 2008 8:18 AM in response to Closing Bell: Working on Christmas

When the shelves were not restocked amazingly people just bought what was there. Retailers were not taking the chance people wouldn't buy and they'd be left with unsold stock.

Unremarkable demand remarkable lack of supply!

Posted by: Aussie at December 26, 2008 2:16 PM in response to No Recession at Target

Ok MR and you are da po po. ;-)

Posted by: Aussie at December 23, 2008 2:39 PM in response to Last Week's Biggest Sales

G'day Biff + Muffy. If a Bull is a person who doesn't think that 40% (average) declines are coming then put me on Sebbs team. Just to be clear that dosen't mean Muffy wont be able to buy, at a 40% discount to original list price, a distressed home from some poor bugger going under. I'm talking about, as I think most people are, a 40% average price drop peak to valley.

Anyway I will be the Brownstoner Asian conection from next week. I'll be keeping a keen eye for the next couple of years from there.

Merry Christmas everyone!

Posted by: Aussie at December 23, 2008 1:07 PM in response to Last Week's Biggest Sales

Hi Matt,
I would prefer to supply the paint.

Ceilings are not being painted.

Yes I want some gloss white put on base boards and window casings even though they are in pretty good shape but please let me know how much that affects the price.

No Crown moldings unfortunately.

No stair spindles.

It is your typical duplex in a brownstone 19 x 45 foot on the outside, but smaller inside. Pretty new plaster everywhere but some little things to fix up where there are dings or where pictures have been hung.

I will call you now anyway John.

Posted by: Aussie at December 23, 2008 9:43 AM in response to Painters Wanting work over christmas

brown decking paint

Posted by: Aussie at December 23, 2008 7:45 AM in response to Wood like Paint Color

"I am sorry I did not know that Brooklyn had the same prestige as the Thames,the Senna or the Tiber rivers."

So it is the river... thought it might have been (-;

Posted by: Aussie at December 9, 2008 4:50 PM in response to Last Week's Biggest Sales

"There are no million dollar homes in Brooklyn."

So London, Sydney, Singapore, Hong Kong, Moscow, Tokyo, etc etc etc even Brisbane, Leeds, Philly, Eindhoven, do not have million dollar homes either? Or is it just Brooklyn? Is it the river, because I know of other cities that have rivers and million dollar homes do tend to exist on both sides.

Posted by: Aussie at December 9, 2008 2:54 PM in response to Last Week's Biggest Sales

Really! I keep telling my wife there is nothing better than being married to an Aussie(-: E-mail me on roaming-matt@hotmail.com. We have to have a beer, will pick them up at the bodega. Putnam your close too right?

Posted by: Aussie at December 8, 2008 11:20 PM in response to Fulton BID Gaining Momentum

Hey Wasder we must live within a couple of blocks of each other. Unfortunately I'm heading away for a couple of years in a few weeks. But your welcome to a beer on my stoop one evening. I thought you had lived in the area for ages, but just bought.

Posted by: Aussie at December 8, 2008 11:00 PM in response to Fulton BID Gaining Momentum

The look and feel of this area will change now. There are plenty of vacant shopfronts and empty buildings that are now viable with the improved look of the road and the BID.

Clinton Hill got some real improvements during the upturn and I think that a little commercial boom could occur on Fulton. Its not hard to imagine the right businesses doing well there, catering to the new customer base.

The same people that own the met own much of the street. They are worried about change and as landlord they pay most of the cost which they may not be able to pass onto leasees.

At least one of the stores sells the wacky baccy but I don't think its all of the bodegas. Its permitted where I come from so I don't see the big deal. It is the combination of poverty/unemployment/unhappiness + drugs that is the problem. You can't remove the drugs but you should try to remove the other stuff.

Wasder I like the guys in your bodega too. That corner still has some problems though, although I don't think those guys are any part of the issue.

Posted by: Aussie at December 8, 2008 10:51 PM in response to Fulton BID Gaining Momentum

"the mortgage mods are a farse "

That's about right. They use the modifications as a marketing tool but don't actually make any viable change from what I can tell. They do things like
a)push out the maturity date of the mortgage which gives a small monthly reduction in payments but makes the total amount paid over time much worse:
b)roll into a lower rate (but only where they can still make their spread); and
c) reduce payments where principal payments have been made but fix monthly payments were locked in.

Often they also charge for the modification by adding to the principal amount.

Of course its easy to say they should giving principal reductions or interest rate deductions without compensation, but if they did this they would be in liquidation themselves.

The problem is that they have no budget to make these sorts of changes. So they make changes that don't cost money...beter than nothing.

Posted by: Aussie at December 8, 2008 3:31 PM in response to Mortgage Modifications Not Working So Well

Hi Wasder,

It really is fortunate that he come along... actually he can't be that unique, but I think it is nevertheless fortunate. One would think that every presidential candidate should be up to his standard but sadly we have learned that that is not the case. Importantly he is respected not just by Americans but around the world.

I love to hear difficult truths (I mean rather than opinions), they allow me to adjust my life accordingly. Obama is not afraid of them but do you think that the majority of the general public wants to hear them... I get the impression they would rather be comforted. Not to say that the comfort is not an important part of the equation. Until the public feel comfortable they will not start producing and consuming again.

He has to provide both truth and comfort. I think he is doing a good job pre election too.

Posted by: Aussie at December 8, 2008 10:28 AM in response to Open House Picks: Six Months Later

My God DOW, try to stick to name.

Posted by: Aussie at December 7, 2008 12:54 AM in response to Open House Picks: Six Months Later

Look I don't really care what you believe, it's not as though you or I can influence what happens next anyway. It's just strange that you're not happy that I say prices could conceivably drop by a substantial amount. You want me to also comfort you that all will be rosy, or not too bad, or something... if I don't I'm "blind/delusional".

What I am saying to you requires you to look beyond real estate. The circumstances that are causing the NYC market to look shakey can't just affect NYC. As well as a financial crisis the real economy has been hit and that hit could feed back into the financial system in a death loop. Banks are insolvent, companies (not just financial companies) are laying people off in numbers we have not seen in a lifetime, detroit is broke, and the consumer has stopped spending. This is what is making NYC faulter and it will make things harder in the rest of the country as well. How is this going to be isolated to just NYC? I don't believe NYC real estate can decline by itself in this environment. Your argument that NYC didn't go down before so will go down now without other areas has no substance to it.

The biggest single issue in the whole mess is real estate price declines. They have to fix that first and fast without significant further declines occuring . You say they wont but everything will be fine but I just don't see how that works.

It's not a matter of people having bought their houses long ago so they still have a profit. Declining real estate means declining asset values for institutions and shrinking balance sheets for banks which leads to less ability to make loans leading to lower consumption, production and employment which leads to less liquidity which leads to defaults which leads to lower real estate prices... and the cycle starts again. The only effective way to break the cycle is to stop it where it started, with real estate, or to have the big KAR BOOM and start again.

We are skimming the edge of a catastrophic economic event. The chance of avoiding it declines along with property prices. The What would argue its going to happen anyway now. Brownstone Half Off appears to agree with him. Unfortunately I would say both of them understand the problem. I just think we can still avoid it but you think I'm delusional... that's too bad really.

Posted by: Aussie at December 7, 2008 12:50 AM in response to Open House Picks: Six Months Later

You see Muffy, there is delusional and then there is just ignorant. I only half mean to insult you (oh, ok not at all-Wasder will get upset at me) , there is no reason why most people would know about the workings of the US or global economy.

We got ourselves into a really big mess. It started when inflated real estate price started to decline from their peak and it wont end until they level out. That is not to say that the problem is confined to real estate. This had its genesis in real estate but it moved way beyond that and it does threaten the entire financial system. Of course this is very old news, there are people on this site who have been surprisingly well informed from the beginning.

Institutions have absorbed all of the losses they can. Losses tied directly to the real estate market and magnified with derivatives. Your government has supported these institutions and absorbed all it can. Now it has started to print money to absorb more. As further losses occur on real estate more money will be printed. It astounds me that people think that this can just continue. If this were a viable proposition the government would just print money and none of us would have to work. We can't have it both ways - substantial falls and a working economy.

I'm not trying to scare anyone. You would be scared however, if you both understood how the system works and held the believe real estate is going to fall substantially from here. I don't think you're too scared, because your belief that property is going to fall is not authentic. It will end on the purchase of your property. Your view is introverted and simplistic.

My belief will remain the same notwithstanding my position. I can accept that further big declines may occur. I also know what the consequences will be. I think we may avoid the bullet and I certainly wouldn't be accepting your low ball offer, but someone might.
Obviously I'm not completely confident though. I've just accepted a transfer out of the US for a couple of years.

Posted by: Aussie at December 6, 2008 9:23 PM in response to Open House Picks: Six Months Later

BHO: "We are skimming the edge of a catastrophic economic event."

Skimming? I'm shocked at your perception, Aussie.

AUSSIE:

No you're not. When things are not good you want to say they are terrible, when they are terrible you want to say they are catastropic. You are an alarmist. You don't need to be... it must serve your purpose.

When the ATM doesn't work, your bank can't process payments and the US can't sell treasuries then it's catastrophic. Maybe we get 20% inflation... but none of that has happened yet. It will if prices drop 50% from here.

Hi Ledbury: That's fine. Of course there is an argument that NYC falls while the rest of the country now stabilizes. I mentioned that in my last post. I just don't see that happening. I think the solution to the problem will be hatched in New York and Wall St will take its percentage as it always does. Much of the funds have to flow through Wall St because that is still the only system you have.

Posted by: Aussie at December 6, 2008 12:51 PM in response to Open House Picks: Six Months Later

G'day Wasder. It's impossible to predict what will happen in the next two years because of intervention. Left to themselves the markets and economy would have collapsed this year. The cause - the collapse in property prices and therefore the value of associated assets held in the financial system.

If we assume for the purpose of discussion that prices drop another 50% it is NOT impossible to know what will happen. That is end game - start again.

I guess a person could argue that all of the declines could be isolated in NYC and brooklyn and therefore not stress the system to the same degree but I personally think that the argument is imbecilic.

Intervention will work and prices will stabilize in the next 12 months...

Posted by: Aussie at December 6, 2008 12:07 PM in response to Open House Picks: Six Months Later

Go back and read my posts. I've never said property wont drop further. We are skimming the edge of a catastrophic economic event. I think we will narrowly avoid it...we also might not.

It might sound melodramatic but it is very likely that the financial system could not withstand further substantial property declines. The balance sheets of institutions are strained to the limit. They are already supported to the tune of trillions of dollars by the treasury and fed. Institutions are intimately connected to further declines in the real estate market through ABS and derivatives.

"Delusion" is thinking that property is gunna go down another 50% and your world will otherwise remain "lovely".

Posted by: Aussie at December 6, 2008 12:10 AM in response to Open House Picks: Six Months Later

"Delusion" is thinking that property is gunna go down another 50% and your world will otherwise remain "lovely". Except for that beautiful brownstone you just bought for a penny. A 50% drop in property and particularly if it "even occurs in prime areas" would spell T H E E N D.

Unfortunately that could happen, but if you think it is going to, why are you on a real estate blog?

Posted by: Aussie at December 5, 2008 6:30 PM in response to Open House Picks: Six Months Later

Prices falling much further will exact a huge toll on the global economy. That doesn't mean it isn't going to happen, I know. It means they will use every tool at their disposal to stop the decline. It wont just be interest rates. A big plaster will be placed over the problem in the form of intervention from several different angles. Unfortunately this will exacerbate the problem in the future, but they are going to do it.

Before the future arrives American ingenuity, hopefully, can intervene. This might be possible in the form of tech developments in alternative energy. The drain to the Middle East could stop and America could have manufacturing and technology to export again.

Or America could go the way of Russia.

AND FURTHER MORE... BROOKLYN IS DIFFERENT :-)

AS WELL AS THE FACT THAT... BROOKLYN IS NOT THE SAME:-)

AND BROOKLYN IS GOOD!

Posted by: Aussie at December 5, 2008 4:24 PM in response to Open House Picks: Six Months Later

WHAT ABOUT:
1. Property in Brooklyn was significantly undervalued a couple of years ago, PROPERTY IN PARTS OF BROOKLYN WAS THE CORRECT VALUE OR ONLY SLIGHTLY OVERVALUED A COUPLE OF YEARS AGO. 2. There is something about the nature of New York going forward which would increase the rate of demand for homes as compared to the expected demand a few years ago, THE NATURE OF PARTS OF BROOKLYN KEEPS THE RATE OF DEMAND GOING FORWARD EQUAL TO OR ONLY SLIGHTLY LESS THAN THE SUPPLY BECAUSE IN SOME AREAS PEOPLE WONT NEED TO SELL or 3. Prices will decrease PRICES IN SOME PARTS OF BROOKLYN DON'T SEE BIG PRICE REDUCTIONS FROM HERE.

Posted by: Aussie at December 5, 2008 2:58 PM in response to Open House Picks: Six Months Later

Who is the lender Muffala?

Posted by: Aussie at December 5, 2008 1:48 PM in response to Low Interest Rates Are Teasing Me

Muffy, I don't agree, I think you can find some pretty big cuts now. They might get bigger... just not as big as you want and not in the places you (and lots of other people) are looking.

Posted by: Aussie at December 5, 2008 1:43 PM in response to Open House Picks: Six Months Later

Effective APR (annual percentage rate) includes the fees etc. Some banks advertise low rates but are able to give them to you because they charge other fees. The effective APR, if they will give it to you, includes points and other fees and will be higher. But it is your "real" rate. It will allow you to compare that loan rate to another one that does not have the same points and fees. It levels the field so to speak.

Posted by: Aussie at December 5, 2008 11:35 AM in response to Low Interest Rates Are Teasing Me

Don't get tricked, there is no way your bank is giving you an APR of 3.99%. Do your calculations again when you find out what the real APR is.

I like the idea though. I have done it myself a couple of times.

Posted by: Aussie at December 5, 2008 11:01 AM in response to Low Interest Rates Are Teasing Me

Thanks Bob

Posted by: Aussie at December 4, 2008 4:09 PM in response to House of the Day: 177 Maple Street

This place is pretty close to the park, but is there an entrance to it close to there.

Greenery and a wood fence is what this back yard needs, that looks like a pool fence.

Posted by: Aussie at December 4, 2008 3:31 PM in response to House of the Day: 177 Maple Street

No I just meant away from work, but the outback would fix the problem too.

You know Dave I looked into buying an eco tours business in Noosa, Australia. It's definitely time for a change and a more simple life.

Posted by: Aussie at December 4, 2008 2:57 PM in response to House of the Day: 177 Maple Street

The neighbours houses look nice but for some reason the back yard sends me into a fit of depression... what the hell is it?

I think I'm going to have to go home.

Posted by: Aussie at December 4, 2008 2:40 PM in response to House of the Day: 177 Maple Street

I believe however, that just like NYC is somewhat different from the rest of the country, so too is there a neighborhood-by-neighborhood and even street-by-street difference in the market here. Such is the nature of gentrification for lack of a better term. Gentrification, that is, in its broadest definition where these developments are occurring in what have to date been largely low rise housing.

SPOT ON DAVE

Posted by: Aussie at December 4, 2008 1:06 PM in response to New York City, After the Boom

Yep rents are definitely droping in Manhattan. I have a two bedroom apt in a prime part of UWS that over the last 5 years has rented within 2 days of going on the market (and with a rent increases). This time no takers in two months.Dropped the rent by 10% one month ago it still has not moved.
I have however in that time rented a Clinton Hill apartment and gotten a rent increase. I wouldn't have believed it if I didn't experience it myself.

Posted by: Aussie at December 4, 2008 12:32 PM in response to New York City, After the Boom

Biff: No. We are protected from ourselves, you have to be an Accredited Investor :-)

11217: Or you could stake out the store and loudly talk about what poor quality the pants are (or even all pants in general and how they will soon be on sale) .

11233: "vitriolic" what a great word!

Posted by: Aussie at December 2, 2008 2:49 PM in response to Last Week's Biggest Sales

".....honestly, I think the economic downturn has been accepted as reality everywhere except on Brownstoner."

that's funny. I would say acceptance is universal at Brownstoner. The degree is up for discussion.

"Im with you Muffy"

All buyers are with Muffy... but Muffy may be joining the owners soon!

Posted by: Aussie at November 26, 2008 9:24 PM in response to House of the Day: 271 Stratford Road

If you say so. Maybe they will drop equal to fringe areas. Good luck with your counter offer.

Posted by: Aussie at November 26, 2008 5:24 PM in response to House of the Day: 271 Stratford Road

Muffy (your new name as of yesterday), down sizing seems so final. Human psyche says to me that people have to be forced to take this step. Like selling (anything) at a loss, it is something that only the informed and the most disciplined will do. Let’s face it, almost no-one is truly informed, and of the informed only very few are disciplined. Most have to be forced to sell even when it is in their best interest to do so. It's a lot like a margin call.

Lots of people are scared of losing their jobs, I agree, but a comparatively small number actually will. They will be the ones that sell their homes. ARMS could have played a similar role if people had found that they could not pay the new rate, but this bullet has been dodged to a large degree, for now. Speculation in prime areas happened but it was not rife.

DOW and lechacal have the confidence to sell and wait because they are so sure of the magnitude of the drop and they see a home as an investment. This is rare, comparatively. I have no confidence in any prediction of the magnitude, and there is the spectre of intervention.

I have lived through a number of downturns and owned prime and less than prime through them. It has always amazed me how the drops in prime locations are limited.

I know this is not want you want to hear (nor probably what you believe), but it is my experience as well as my opinion. It was taught to me by my father, ignored by me at my peril, and proven to be true in my own experience. It is not something that can be seen in statistics. There will be a drop but by nowhere near as much in prime areas as in other areas.

Posted by: Aussie at November 26, 2008 4:38 PM in response to House of the Day: 271 Stratford Road

I wonder why they have to sell. It may have been an investment rather than a home.

Why sell your home if you just have to buy another one? Percentage wise most people that HAVE to sell wont be in prime areas. I'm not sure that I regard this as prime.
Most people won’t lose their jobs, get divorced or run into the sort of big financial difficulties that cause the sale of a home. A small percentage of them will. If unemployment rises to 8.5%, 3% more people won’t have a job. This will definitely move the market a bit but not a lot.

Different scenario in areas where there was a lot of leveraged speculation.

Posted by: Aussie at November 26, 2008 3:13 PM in response to House of the Day: 271 Stratford Road

"The notion that Manhattan (excluding LES and Uptown) is cheaper than Brooklyn is unsustainable and will correct itself."

This is the crux of it. You either agree or disagree with this statement. It is "unsustainable" only if Manhattan is more desirable. It certainly was not more desirable to me. I did not move to save money, I desired Brooklyn... a lot more.

...and in a downturn i want to be in brooklyn even more, not because it is cheaper but because it is a better place to relax.

...but then I'm not 30 anymore

Posted by: Aussie at November 26, 2008 10:16 AM in response to Wanna Save Money? Leave Brooklyn For Manhattan

DOW:
April 1991 72.29 Trough -15.49% -8.89%
December 1991 74.74 3.39% -1.14%

So your 1991 buy signal was about 8 months late which made it a pretty good indicator for real estate on that occasion. But I think it is more useful if you are John Paulson than Miss Muffett.

I wish there were more peaks and troughs to see how reliable the signal is in times of intervention. I expect intervention. I doubt the US market can be turned quickly by it but it would be interesting in particular to look at certain cities.

My vision/model of how real estate price declines move through the US is kind of how an infectious virus might. Declines have epicenters and the virus spreads slowly from there into more resistant areas. If the resistant areas are hit they are not hit as badly and they recover faster (although maybe a little later).

The whole country doesn't catch the virus at the same time. As I think you said it is a process. As the parts that caught it first start to recover other (and more) parts of the country catch it also. The relevance of this is that the average number of cases doesn't necessarily reflect what is happening in one particular area. The average decline may increase even as some parts of the country have not yet been exposed and some have been exposed and recovered. The same is true once a City starts its decline. The numbers will continue to increase until the virus has been contained or it has run its course. I see Manhattan and some prime parts of Brooklyn as resistant even with the job losses.

New York will play a major roll in the solution to this problem despite its troubles. Wall St is the conduit through which any solution will flow, it will take its percentage, like it or not, simply because there is no other system.

Respect to you also DOW. Are you actually in the market for a house? I guess you made some money shorting.

Posted by: Aussie at November 25, 2008 7:50 PM in response to Last Week's Biggest Sales

"Absurd. Prices will bottom when Case-Shiller YOY approaches zero."

DOW (l'll keep using your old name): Prices wont bottom at the point you describe, they will have certainly reached a bottom BY this point, and QOQ and MOM graphs will have shown it for some time. The smoothing effect of using YOY numbers ensures that even conservatively a true bottom has been reached. Of course it may show a bottom 2 years or more after what we will eventually know was the bottom looking back.

11217: It is way more than 4 other people.

Muffett believes she can move the market. This is not shares it is a fairly illiquid market, maybe she can to some degree. Like the What, she peddles fear.

Posted by: Aussie at November 25, 2008 4:39 PM in response to Last Week's Biggest Sales

MY OPINION: Prime Brownstone Brooklyn has demonstrated property price strength and will continue do so. Not by going up or staying flat but by falling less and recovering first.

THE DILEMMA FOR MISS MUFFETT : It must be hard seeing the sheer number of job losses, forclosures, and stock declines and still not see the property prices you want. It must be hard to find yourself hoping an economic recovery doesn't happen. I just don't think it is human nature to do it. We like to think we can get what we want without people being hurt. That is way she always insists people will be ok and they have made money even though there have been declines.

Posted by: Aussie at November 25, 2008 2:47 PM in response to Last Week's Biggest Sales

"so even with deep discounts, many sellers can still do very well."

....yawn :-()

"Even if they poured a lot into the renovation, and this went for a 25% discount (if not more!), they would still profit handsomely."

....zzzzzzzzzzzzzzzzzzzzzzzzzzzzz

Posted by: Aussie at November 24, 2008 11:08 PM in response to House of the Day: 566 1st Street

Once the Asshats get it ... what are they supposed to do?
Maybe they get it and you don't get that they get it. Or maybe you do get that they get it, but they don't get that you get that they get it.

I'm not sure, What, Dave, Biff is it more complicated that this.

Posted by: Aussie at November 19, 2008 10:22 AM in response to Fed's Kohn Says Crisis `More Severe' Than Episodes Since 1990s

Slick said; AAA CMBS new issuance at trading at 850 over LIBOR currently. If you originated a jumbo loan at 7% today, it would be worth 85 cents out the door. If you can even get one with 25% down, it would cost close to 10%

So you think that Jumbo mortgages are only funded through CMBS issuance and therefore jumbo mortgage rates are 10%. That is not correct I'm afraid.

Posted by: Aussie at November 17, 2008 10:50 PM in response to HOTD: 306 Washington Avenue, Two Price Cuts Later

Aussie;

They are separate events, but probably both related to the cold weather. You probably had already developed a slight leak in the HW boiler, but it was ripped open by the extended extreme temperatures of recent weeks. In the case of the CW pipes, they probably just froze up.

Good luck. If you are having trouble finding a plumber who will respond quickly, I would recommend Vigilante Plumbing.

Posted by: benson at January 19, 2009 12:56 PM in response to Burst Boiler AND Frozen Pipes?

sounds like you are talking about a hot water heater instead of a hot water boiler..it rotted out from the sound of it.. you probably have cold air leaking into the basement near the cold water feed to the building causing the cold water stoppage, a totally different problem..

Posted by: eman1234 at January 19, 2009 7:25 PM in response to Burst Boiler AND Frozen Pipes?

better you switch over to another equity.

http://equity.talkingfinancing.com/

Posted by: talkloan at January 23, 2009 5:49 AM in response to Low Interest Rates Are Teasing Me