One day swings (up or down) in the market are meaningless people. The market closed today at 8,900 after that 900 point gain. One year ago closed at approx 13,000. That's more than 4000 from the 52 week high. I wouldn't start popping the champagne just yet.

Posted by: Grendel at October 28, 2008 4:58 PM in response to DOW UP 800 POINTS. THE WHAT LEAVES TOWN.

The standard NY form contract has options for including a financing contingency or not including it, so it's obviously something that is on the table for negotiation. In NYC before the credit meltdown, it was standard for the seller to ask the buyer to waive the financing contingency, and if buyer didn't waive it, the next person would. Since this is new construction, it's entirely likely that the OP signed the contract when banks were handing out mortgages to children on street corners, so there was no need to be concerned about a financing contingency so long as the appraisal came in (which the appraisal contingency covers). Not to say it was ever a good idea to agree to waive the financing contingency, but it was done all the time, and you often could not get seller to sign a contract with that contingency included.

All that said, I agree with a prior poster: crunch the numbers and see what the differnce in costs are based on several different time periods.

Good luck.

Posted by: Grendel at September 3, 2008 12:21 PM in response to Mortgage Help!

The wine bar is not on Smith, it's on Court, and given how dead that block at night, it's a welcome addition in my book.

Posted by: Grendel at August 20, 2008 2:00 PM in response to Wednesday Food & Drink Round-Up

Yeah, it's not closed until the 28th, per the sign in the photo that Brownstoner posted. This should not be a big deal for commuters, but I can see it being a bit of a hassle for moms with strollers and the elderly, as getting to the booth and the gate requires some additional stairs to go up. It will be interesting to see what this looks like when completed (and who knows when that will be).

Posted by: Grendel at July 22, 2008 11:45 AM in response to Closing Bell: Carroll St. Subway Entrance Closed

LOL, I am hoping for more on the upside. And if I truly wanted a brooklyn townhouse I could pony up the money for one but I wouldn't have any money for the furniture. So I am waiting for that 800k townhouse in Brooklyn Heights and with the remainder I will be buying a great home down the shore somewhere. As for the market I have called this baby. As of now I have no position but if the market were to reach 9600 I would be shorting again.

Posted by: HOBOKENROCKS at October 28, 2008 4:59 PM in response to DOW UP 800 POINTS. THE WHAT LEAVES TOWN.

Don't worry the second the market drops TheWhat will be back crying the sky is falling, cheerleading disaster, and calling any who question him/her/it asshats. That and all his sock puppet friends will pop up to post an unusual amount of comments for a Brownstoner forum thread.

Posted by: FenFen at October 28, 2008 5:00 PM in response to DOW UP 800 POINTS. THE WHAT LEAVES TOWN.

Hey I can see the Washington Bridge from my bedroom window and I can take a pic to prove it. As for Brooklyn I only like the Heights so I will wait for prices to come down. As for now I am great in my gorgeous Hoboken apartment.

Posted by: HOBOKENROCKS at October 28, 2008 5:03 PM in response to DOW UP 800 POINTS. THE WHAT LEAVES TOWN.

HOBOKENROCKS, if you love your gorgeous Hoboken apartment, why do you want to leave it? Sincere question.

Posted by: Biff Champion at October 28, 2008 5:07 PM in response to DOW UP 800 POINTS. THE WHAT LEAVES TOWN.

I would want to leave it if I could get me a great Brooklyn Heights townhouse. And only if I could get me a great Brooklyn townhouse. I have never strayed and written anything different. Tell me wouldn't most people leave their current location if they could get a great townhouse in the Brooklyn Heights area. I love my current location but I think I would love Brooklyn Heights more.

Posted by: HOBOKENROCKS at October 28, 2008 5:16 PM in response to DOW UP 800 POINTS. THE WHAT LEAVES TOWN.

Now a question for all of you. Have I or haven't I been correct on the market? My technicals have been right on and DAVEINBEDSTUY can attest to most of this since he is in the business. He may not trade using the same technique but read my past post and look at what I predicted and see that I have been spot on. Whether you believe me or not that I have made money on this downturn is irrelevent.. SINCERE QUESTION.

Posted by: HOBOKENROCKS at October 28, 2008 5:24 PM in response to DOW UP 800 POINTS. THE WHAT LEAVES TOWN.

Brooklyn Heights is over-rated. Plus, I hear all the people that live there are asshats!!

Posted by: bayridgegirl at October 28, 2008 5:26 PM in response to DOW UP 800 POINTS. THE WHAT LEAVES TOWN.

BRG..I think one of the biggest Asshats lives there according to the What. The other one lives here in Bed Stuy!!!

Posted by: daveinbedstuy at October 28, 2008 5:34 PM in response to DOW UP 800 POINTS. THE WHAT LEAVES TOWN.

HOBOKENROCKS, fair enough. I do appreciate the sincere response and props for Brooklyn Heights, despite some catcalls from the Bay Ridge Peanut Gallery!

Posted by: Biff Champion at October 28, 2008 5:40 PM in response to DOW UP 800 POINTS. THE WHAT LEAVES TOWN.

Where are the naysayers. How dare you guys say I won't be able to get my Brooklyn Heights townhouse for 800k. As for the 400 k remark weeks ago it was a joke. Even I don' t believe under any circumstances I will ever be able to get a Brr Heights townhouse for 400k... I didn't see anyone answer my question..

Posted by: HOBOKENROCKS at October 28, 2008 5:44 PM in response to DOW UP 800 POINTS. THE WHAT LEAVES TOWN.