RE Brokers are lazy morons

DIBS is all talk and will not buy this house.
I went by to see it (Just from the outside).
This place just oozes cute. Anybody who thinks you could renovate this house for less than $500K has no construction experience. And you will pull your hair out and have a nervous breakdown in the bargain. But it is a great location.
Curious to see what happens.

Posted by: leftmanhattanneverlookedback at June 22, 2009 8:04 PM in response to House of the Day: 329 Adelphi Street

Good Luck MFN. I am resigned to looking at many properties and doing the brokers jobs for them. Extra frustrating is uncovering negatives that the brokers should have been upfront about. Obviously, anybody paying 1M to 2M is going to be diligent. Who do they think they are fooling.

Posted by: leftmanhattanneverlookedback at May 15, 2009 12:51 PM in response to RE Brokers are lazy morons

Hey DIBS:
Apparently you cut elementary school one times too many.

Posted by: leftmanhattanneverlookedback at April 9, 2009 10:11 AM in response to Manhattan Housing Prices Take a Dive

Right now it is mid stage. Safe during the day. Sometimes a little shaky at night. I have yet to have a problem but am sensing street anger on the rise as the recession deepens.
If NY and the economy recover this will probably appreciate faster than some areas. If things get worse, it will probably deteriorate faster than more affluent areas.

Posted by: leftmanhattanneverlookedback at April 2, 2009 4:46 PM in response to St. John's Place Condos

I live (in a rental)on st johns btwn underhill and washington. Im not sure what building you are referring to. please let us know.

The location is wonderfully convenient. Easy access to the 2 and 3. The Q is a reasonable walk as are the 4 and 5 train.;

Proximity to Prospect Park is wonderful.

That said the neighberhood is transitional. Despite the ridiculously expensive Richard Meir building nearby, there are still drug problems in the area. It's getting better all the time, and neighbors tend to be helpful and friendly. But it's not without issues.

I have been looking but feel everything is overpriced.

Posted by: leftmanhattanneverlookedback at April 2, 2009 3:45 PM in response to St. John's Place Condos

Petebklyn:
There are many that sold for less. But that is history.
The point is, you can get a bigger house in an equivalent or better location RIGHT NOW just by paying asking price.
Sure somebody might be dopey enough to buy this for $2.2M (It's a free country) but that is not what the market is telling us.

Posted by: leftmanhattanneverlookedback at March 12, 2009 2:18 PM in response to House of the Day: 557 7th Street

No chance whatsoever. There are many far superior deals out there, and this house is very narrow.

I think everything is overpriced right now, but this place is overpriced even in comparison to the asking price of its direct competition.

Posted by: leftmanhattanneverlookedback at March 12, 2009 1:31 PM in response to House of the Day: 557 7th Street

Truly a mystery. There are many near foreclosure, but almost nothing gets the gavel.
$10 Trillion erased from stock market, massive layoffs on wall street, a glut of new condos and prices only decline a little. I dont believe in miracles! There has to be a flood of "must sell" inventory in the wings, waiting and hoping.

Posted by: leftmanhattanneverlookedback at March 10, 2009 10:38 AM in response to Brooklyn Foreclosures Low and Steady in February

Thank god I got divorced just as the downturn was getting started. That way there was plenty of cash for the lawyers to help themselves to.

Posted by: leftmanhattanneverlookedback at December 30, 2008 9:27 AM in response to Housing Downturn Throwing a Wrench in Divorce Plans

It is time to thin the herd.

Posted by: leftmanhattanneverlookedback at December 11, 2008 12:02 PM in response to 17 Prospect Park Closes

I rent in Fort Greene now and want to move up. I think this is way high. That location is not worth that rent even if the apartment is spectacular.

My plan is to buy in 6 months when prices drop like a stone.

Posted by: leftmanhattanneverlookedback at November 19, 2008 7:42 PM in response to Rental of the Day: 383 Carlton Avenue

The national news increasingly dominates our local real estate picture. How long can nyc real estate resist the tremendous downward pressure? Already wall street is down 150,000 jobs. Foreigners are dealing with their own crises and are unlikely to be buyers. Can NYC avoid a major real estate correction?

Posted by: leftmanhattanneverlookedback at November 11, 2008 10:04 AM in response to Citigroup Puts the Kibosh on Foreclosures

I have lived on this block for three years. These units were overpriced as Condo's and are now over priced as rentals. The hood is decent but Myrtle gets very noisy. The walk to the subway is very long. The public school is safe but noisy.

Walgreen's has been saying they are going to open "next Friday" for at least 2 months.

Clermont Greene Condos, between Myrtle and Willoughby is even more overpriced. I can not see any of this inventory moving in the current environment.

Posted by: leftmanhattanneverlookedback at October 27, 2008 5:50 PM in response to The Clermont Reborn As Rentals

It's amazing to me that brokers tend to be pretty piss-poor as far as being professionals of their industry. But I guess that's par for humanity in general.

We looked in Hoboken for a while and had the best broker ever. Man this guy was a pro. pulled 10 years of comp sales for me to track prices of 1 and 2 family sales so I could decide what the home we bid on (was pulled off the market) was worth.

But this guy's been selling for 25 years only in Hoboken. Shows what a difference it makes.

Posted by: MoneyForNothing at May 15, 2009 1:37 PM in response to RE Brokers are lazy morons

dumb lazy brokers are great for buyers - helps buyer get lower prices. For sellers, you're screwed

Posted by: more4less at May 15, 2009 1:45 PM in response to RE Brokers are lazy morons

not so great for buyers if you're nervouse (and many are). Prices insane, and most seem not to know how to build a historical picture based on financial data, or dig behind the scenes to get you info that's useful.

Then there's being good at negotiating a million+ purchase.

oy vey!

Posted by: MoneyForNothing at May 15, 2009 2:07 PM in response to RE Brokers are lazy morons

"Obviously, anybody paying 1M to 2M is going to be diligent. Who do they think they are fooling." Are you kidding? They made away like bandits the last 10 years. The government should put some clawback rules for real estate brokers too. Real Estate brokers make Bernie Madoff look like an amature.

Posted by: hannible at May 15, 2009 7:54 PM in response to RE Brokers are lazy morons

Just because a broker has been around Brooklyn for 10+ years doesn't mean they know anything.

I had a broker who has been in business in Brooklyn Heights for the better part of 2 decades try to tell me I could get 80% financing on a 10 unit building. He stared at me blankly when I explained the concept of a commercial loan (5+ units are financed as roughly 9xs the rent roll minus expenses).

He claimed he had never heard that...

Posted by: christopher at May 16, 2009 12:37 AM in response to RE Brokers are lazy morons