Oh...and here is the original link to it:

http://www.brownstoner.com/brownstoner/archives/2007/04/house_of_the_da_299.php

Posted by: dssguy99 at December 10, 2007 1:04 PM in response to House of the Day: 7701 Ridge Boulevard

I think this will cost around $350k...im not sure yet, but the home will be beautiful after!

Posted by: dssguy99 at December 10, 2007 7:51 PM in response to Victorian home renovation/restoration

Yes, correct, I feel 2.5 would be too much for something like this.

Posted by: dssguy99 at December 11, 2007 9:01 AM in response to Victorian home renovation/restoration

I own my own business...this was a good year...a few new clients. I dont want to look bigger because all this money was made this year. If I loose these clients I will not be able to make such big payments.

Posted by: dssguy99 at December 11, 2007 9:50 AM in response to FICO score and Mortgage??

Very new...sorry for the post.

Posted by: dssguy99 at December 11, 2007 10:13 AM in response to FICO score and Mortgage??

Who knows...Im sure if he came down it would be gone in a second though.

Posted by: dssguy99 at December 11, 2007 3:00 PM in response to Victorian home renovation/restoration

"Bayridge is like a small town on Long Island"...ahhhh....I wouldnt go that far...lol

Posted by: dssguy99 at December 29, 2007 4:52 PM in response to 567 73 Street

You are right, someone who purchases in Bay Ridge is a different purchaser then someone in Parkslope or downtown:

The difference is, in Bay Ridge...

-you can have a car
-you can have a driveway to keep your car in
-you can have a nice yard to play with your kids in
-you have good schools
-you have space

If you want to live in a hipper place with people on top of you then move to Park Slope. Personally I want space and a nice yard...so Bay Ridge is the next best bet as it is more similar to hip areas then is Bensonhurst or Dyker.

Posted by: dssguy99 at December 31, 2007 7:52 AM in response to 567 73 Street

"kevin o'connor from this old house, or possibly bob vila if still practicing"...ha ha ....funny. Kevin O'Connor is only the idiot host...he knows nothing.

Posted by: dssguy99 at December 31, 2007 2:18 PM in response to Victorian house restoration contractor?

Thanks for all the comments so far! The plan will be to get as much help as possible (friends and family: free labor...lol) for atleast a week. I would not mind savign the money...and if I can get them to show up for the needed time to help me I may go this way. If this costs between $15k and $75 K...I will find a way to get my help to stay!

Posted by: dssguy99 at January 6, 2008 11:07 AM in response to gut renovation costs (demolition)

Neighborhoods (as opposed to cities) are almost never 'diverse' in the sense that most people think of the word. There are almost always 1 or 2 racial or socioeconomic groups that dominate a neighborhood.

In the rare exceptions when there is racial and economic diversity in a neighborhood such as Jackson Heights (and perhaps Park Slope in the past), it usually is not a very long-lasting phenomenon. And in the long run all neighborhoods experience shifts in class, race, and ethnicity.

Posted by: guest at March 13, 2008 5:27 PM in response to GENTRIFICATION

My wife and I bought in Crown Heights six years ago. It seemed like prices were rising around us faster than the tide in the Bay of Fundy. We found a nice brownstone, and thought 430k was a lot. We visited the seller and the block quite a few times. From what I could tell we were the first people-of-no-color on the block. We were open and warm to our new neigbors and they reciprocated. In the last six years two black couples and two white couples bought on the block. Not a rapid 'gentrification'. We like it here. We have space in the house. We have a garden. I shop for 'specialty' foods in Manhattan and Park Slope, but mostly shop at the Foodtown on Fulton St. House prices continued to rise, and now I think Corcoran would want to list our house for a $million, but realistically it's more like 700-800k. So we've got some equity.
We like it the way it is here. I'm glad gentrification is moving slowly here.

Montrose Morris, I love you.

Posted by: Hal at March 13, 2008 5:45 PM in response to GENTRIFICATION

The media and others obsess over race but it's economics. There has been incredible inflation everywhere all over this country. Most white people can't afford a brownstone in Park Slope.

I have many black friends who are buying brownstones or nice coops in Brooklyn in the nicer neighborhoods. They are not staying away because they are black, that's absurd. These newer black residents are higher income professionals. It's a good thing for kids of lower income families to have these role models around. Studies show kids who see and know professionals in their neighborhoods whether those people are their family members or not, or are their race or not, perform better in school and in life. It so conveniently leaves out all the memories of the negative elements when singing the praises of what Brooklyn used to be. Kids used to be shot on the streets in Brooklyn 20 years ago every month. It was awful.

To answer the question of "how", we sold a place we owned a long time we bought in an area of Brooklyn nobody wanted to be in many years ago that's now very improved, and that's how we could afford a brownstone. Otherwise there's no way we could afford it.

Posted by: guest at March 13, 2008 7:10 PM in response to GENTRIFICATION

immigrants/professionals ($200 in the pocket + 30lb bag with clothing, books, matreshkas) -> 2 professional carriers -> real scale savings (40% of net income) -> smart spending habits ( vacation in Paris for $1500 for 2) -> some luck with stock market -> first coop in Brooklyn -> house in Park Slope 1 block from the park.

Our combined income was only slightly above $200K when we bought our PS house. And we did not sell our coop at that time, sold it later for almost 2 times of what we paid.

Put proceeds into renovation. House is appreciated by about 800K.
It would be tough without rental income. That is why we poured most of the money into structural and mechanical upgrades and into rentals. Our own apartment is still very far from perfect.
but eventually it will be great.

Posted by: guest at March 14, 2008 12:13 AM in response to GENTRIFICATION

It seems as though most PS buyers were not first time homeowners and if they were they had inheritances also most were willing to live in "so-called" fringe areas first. They didn't know if those areas would become the desirable areas that they are today, but they went out on a limb and took a chance. Many have already gone through a downturn and resurgence and many of us on the "fringe" may have to do the same. Those of you who trash all of those neighborhoods as too far out, still too Black, not enough ammenities, no good schools, etc... just keep waiting and complaining. Buy a Lotto ticket.

Just a Little Luck

Posted by: guest at March 14, 2008 1:52 AM in response to GENTRIFICATION

SMART: Took $15,000 from a side project (Was making $40,000 at the time) and bought a sharpt 1BR near Smith Street in 1997 for about $150,000.

LUCKY: Smith Street exploded. If I'd known, I woulda levered up and bought the whole street.

WRONG: Freaked out when place tripled in under five years and sold for $450,000 (it later sold for almost $900,000 after a smart renovation).

SMART: Stretched (with spouse) for the biggest, badddest 3BR condo we could find. Paid around $700,000 for one in the South Slope. Now worth almost double that. Can hit the new Union Market in my pajamas.

FRUSTRATED: Even though our income is now well into the six figures, we can't quite afford a house in 107 or 321 without becoming landlords (ugh).

BORED: With all of the racial discussion. Can we just keep it to real estate?

Posted by: guest at March 14, 2008 5:57 AM in response to GENTRIFICATION

I make about 30k a year driving a van. my parents combined makes about 40k a year they work in restaurant and garment. we live within our means.

we are working class. we saved for along time. we just brought a park slope house to rent out.

alot of people bitch about being price out of a place etc... some times people should learn to live within ones means to be able to afford a place.

Posted by: armchairwarrior at March 14, 2008 9:08 AM in response to GENTRIFICATION

Agree Armchair. one of my wife's friends lives in Bayridge and complains almost daily about how their rent is going up and they dont have any cash to buy something becuase everything is too expensive. This is usually followed by her ethusiasm over her latest purcahses from some trendy 5th avenue boutique or the latest useless gadget her husband brought home.

I always smile and say great, but inside we both laugh about the obvious contridiction. IF you want something, you sacrifice, many people lack this ability.

Posted by: guest at March 14, 2008 9:16 AM in response to GENTRIFICATION

2:37..at 28yrs old you are both thoughtful and logical. It always surprises me that people (black & white) are more comfortable confronting ignorant, baseless comments than to have a reality check. I sincerely hope that you are a sign of our future. Too many post on this site are written by bitter, confrontational, and psychologically destroyed people with racism embedded in their DNA.

Posted by: guest at March 14, 2008 9:26 AM in response to GENTRIFICATION

Racism IS embedded in everyones DNA 9:26. Scientists have shown that even early humans and our modern ancestors in early civilizations were racist. Even animals are shown to be "Racists" when they encounter other animals of the same species that has different characteristics.

The only thing that helps keep racism in check is society and the strong pressures to adhere to evolving social norms. But racism is alive and well in all of us, and that goes for every "Race" not just Whites.

Dont beleive me? If you are White, take a walk down to Bushwick and accidentally bump into someone, see how quickly they spatter you with "Cracker" and "Honkey" and any other racist remark they can hurl.

Posted by: guest at March 14, 2008 9:59 AM in response to GENTRIFICATION