Prices certainly have come down a lot in New York already. They are off 30 to 40 percent in the "marginal" areas of brownstone Brooklyn since 2006 and 10 to 15 percent in the "prime" areas since the beginning of the year. This mirrors what has happened in the rest of the country already during this downtown and previous ones. The question is how much worse can it get? There are likely to be worse job cuts (and no new job creation) than in previous downturns and if you can no longer do 20 percent on a jumbo loan, that's a big difference. But don't forget there are plenty of wealthy people living here. Barring complete collapse and no police, we're not going back to the 1970s. New York City is becoming a wealthy area like Boston, SF, Paris. Except for the 1970s, it's always been a place that's difficult for the average person to afford going back to the 1840s.

Posted by: mopar at November 22, 2008 12:44 PM in response to Babs Corcoran "Not Worried About Real Estate Prices"

The block is amazing, with some of the biggest and fanciest freestanding houses and biggest front yards in Bed Stuy. They also live down the street from a B&B. The two or three times I've been by the house in the last month, it didn't look like anyone was living there. Hope that's not the case.

Posted by: mopar at November 22, 2008 12:28 PM in response to A DIY Home with Charm and Challenges

The What is getting repetitive, but so is the economy. I will miss the posts on prices and such.

Posted by: mopar at November 21, 2008 8:08 PM in response to Staying on Track

I agree with the idea to flip the dining and living room. When I lived in an identical apt, we painted the dining room (middle room, no windows) a medium color with white woodwork and a modern white light fixture and had bookshelves lining it. It looked quite nice.

Posted by: mopar at November 21, 2008 11:28 AM in response to Advice for a Freaked Out Apartment Seller

Agreed none of us know what will happen, I do think the economy will be bad for about ten years, and yet I do not think Brooklyn prices will drop substantially more than they already have. I don't know, could be a pipe dream. But people really want to buy in Brooklyn, crime is down...prices didn't fall that far in the Bay Area in 1989, dunno. Then again, if this is the beginning of the fall of Rome, then I guess that's a whole different thing. Although prices are still high in Rome also.

Posted by: mopar at November 21, 2008 12:53 AM in response to Advice for a Freaked Out Apartment Seller

Yikes, these places were $200,000 or $300,000 and barely big enough for two adults when I lived there in 2001. Not to throw cold water.

Posted by: mopar at November 20, 2008 11:24 PM in response to Advice for a Freaked Out Apartment Seller

Cobblehiller, you have a Trader Joes? OK, Cobble Hill has clearly changed a lot since I lived in Carroll Gardens. The food was just as expensive if not more than Citarella, and it wasn't as good. Citarella is really quite a good value in New York terms. Sorry to be getting on your nerves, Cobblehiller, please forgive me.

Posted by: mopar at November 20, 2008 11:02 PM in response to AMNY Does Cobble Hill

Good heavens, I spent a fair amount of time in Antonio's Nuthouse around 1986. What a strange coincidence.

I would like Cobble Hill more if it had a Citarella. Actually, I would like every neighborhood more if they had Citarella.

Posted by: mopar at November 20, 2008 3:16 PM in response to AMNY Does Cobble Hill

Oh just trying to stir up some excitement this morning because I'm in frightfully dull Palo Alto visiting family. Translation: Cobble Hill is cute but the food isn't great and it's too expensive for me.

Posted by: mopar at November 20, 2008 2:37 PM in response to AMNY Does Cobble Hill

They seem low right now. Today the Fed cut the interest rate again on fears of deflation. I would think they'd want to increase the rates to ward off deflation. If that's the case I'd worry the rates will go up soon. Anybody know about this?

Posted by: mopar at November 20, 2008 12:30 PM in response to Mortgage Rates

This is just a last act of desperation before Citibank goes under. They are also offering a 4.5 percent return on six-month CDs, which is awesome. They're trying to attract business any way they can. Rumors of their demise have been floating for months, and now their stock is at an all-time low, which in the case of other financial institutions signaled imminent doom. I am a Citibank depositor, don't want them to go under.

Posted by: mopar at November 20, 2008 12:20 PM in response to Who Says There's No Credit!

Cobble Hill is frightfully dull. Do people on this blog aspire to live there?

Posted by: mopar at November 20, 2008 12:06 PM in response to AMNY Does Cobble Hill

Ah ha! And this was in Brooklyn? I FIGURED a buyer without an agent would be more attractive than one with an agent, since the seller's agent would have to split the commission. This is how it works in Queens, where there is no multiple listing service and no one would dream of splitting a commission. I posted a question about this a while ago, and everyone claimed there was no disadvantage to having a buyer's agent in Brooklyn.

However, a true buyer's agent would be paid by the buyer -- then there shouldn't be a conflict of interest, I would think.

Posted by: mopar at November 17, 2008 10:36 AM in response to 1375 Dean Street

If it's a short sale, a higher offer from a solid buyer will win the day over a low, all-cash deal. In a short sale, the bank makes the call. If it's a foreclosure, however, all cash will be required.

Posted by: mopar at November 17, 2008 10:32 AM in response to 1375 Dean Street

Thanks so much for the info. Do you have to pay private mortgage insurance every month? Also, I guess one can debate endlessly what "moderate" income means in NYC, but the median is about $70,000 and I do believe you would have to have combined household income of $150,000 or so to take out a mortgage of $700,000 or so.

Posted by: mopar at November 15, 2008 11:43 AM in response to bought a house with 10% down

This building isn't as lovely as the original Boerum Hill houses, but it sure beats the heck out of the Horror Show of the Day examples. Mr. Bloomberg, please file this away for the forthcoming city-mandated class for developers.

Posted by: mopar at November 14, 2008 11:38 AM in response to 375 and 377 Baltic All Filled Up

These buildings are the architectural equivalent of transfat. Let's get rid of them.

Posted by: mopar at November 14, 2008 11:32 AM in response to Horror Show Friday

gkw, I miss the disgruntled Russian guy.

Posted by: mopar at November 13, 2008 11:51 PM in response to Celebrating the Shoe Repair Shop

It's typical that an apt on the top floor in this price range will get $100,000 more than one on the third floor.

BTW, you could buy the same apt in Jackson Heights for a lot less. 15 min to midtown on the E.

Posted by: mopar at November 13, 2008 11:41 PM in response to Co-op of the Day: 360 Clinton Avenue One Bedroom

Oh come on, this is Carroll Gardens. Doesn't get much safer or quieter.

Posted by: mopar at November 13, 2008 11:17 PM in response to House of the Day: 356 President Street

Any day now, Hobokenrocks.

Posted by: mopar at November 13, 2008 11:11 PM in response to Closing Bell: Rough Market Makes Strange Bedfellows

Does this mean you won't be moving to Jackson Heights after all, Pitbull?

Posted by: mopar at November 13, 2008 2:34 PM in response to H&M Setting Up Shop in Downtown BK

I'm not familiar with this particular block. What's the typical price for an old two-family townhouse here in good condition with updated mechanicals? $600,000?

Posted by: mopar at November 13, 2008 2:06 PM in response to Price Cuts at Nzinga Townhouses

Guess brokers have nothing better to do these days than post here.

Posted by: mopar at November 13, 2008 1:58 PM in response to Co-op of the Day: 360 Clinton Avenue One Bedroom

Oh wait, of course, Oliver, you're buying property that is way over the jumbo limit. Interesting. Does that mean all buyers of plus-$500,000 townhouses in Brooklyn (even with credit scores over 750) will need to put 50 percent down? That will put a crimp in the number of people buying such houses, for sure, but I still don't see a big run-down. Most people will just sit tight.

Posted by: mopar at November 13, 2008 12:32 PM in response to Has the Buyers' Market Come to Brooklyn? Duh.

Oliver, how can this be? Currently 20 percent is fine in Bushwick and Bed Stuy. Or could that be because prices in Bushwick and Bed Stuy have already declined 40 percent since 2005? Have you checked with a mortgage broker or another agent? Curious to hear more about this situation.

Posted by: mopar at November 13, 2008 12:27 PM in response to Has the Buyers' Market Come to Brooklyn? Duh.

Snaps!

Posted by: mopar at November 13, 2008 12:25 PM in response to Has the Buyers' Market Come to Brooklyn? Duh.

Benson, MM, this is all very interesting. I know when I was living in Carroll Gardens some Fedders buildings went up. I just could not understand why they didn't build something with higher ceilings, bigger windows, a profile and footprint that would fit better into the surrounding area, and the AC concealed. They most certainly could have included any extra cost in the price. I think they had a really hard time selling those units.

I think it's just ignorance on the part of the builders. They don't know what the market wants. All things considered, Apts & Lofts has done a pretty decent job educating builders about how to build new construction to appeal to their demographic (apparently the single male luxury loft type, not the historic building with family type).

And if the landlords remodeling old buildings could just figure out to use modern Ikea type kitchens and not Home Depot country kitchens, and not to build closets in the middle of rooms, or stain floors pink, already they'd have done a great service to humanity.

The building trades in older cities don't seem to understand the demographic they're building for. This seems to be a case where the "market" is not working. There is a demand for a product that is not being addressed at all.

Posted by: mopar at November 13, 2008 12:10 PM in response to Next Victim in Crashing Market: Affordable Housing

Very interesting, Townhouser. Why have so many people replaced their wooden windows instead of just putting on storm windows? Ignorance? Cost? Convenience?

So many big apt buildings have replaced their old metal multi-paned windows from the 30s and 40s (guess these didn't take storm windows) that it's completely transformed the look of New York streets (not for the better, alas).

Posted by: mopar at November 13, 2008 11:56 AM in response to Reducing Drqaft from Old Window

A ridiculous QOTD. Mr. B is just trying to stir up trouble. Obviously, New York is desirable and full of rich people and prices have risen. It's still nowhere near as unaffordable as the SF Bay Area, where ANYTHING within three hours drive starts at $750,000.

Jackson Heights is a perfectly fine area and a whole lot more diverse than brownstone Brooklyn. Pitbull can get a perfectly lovely 1930s studio with a dressing area and entry for $80,000.

CWB can get a townhouse in Crown Heights, Bed Stuy, or Bushwick for $400,000 to $600,000 with all the other teachers and accountants.

If there's a problem, it's that people who work in grocery stores, restaurants, and construction can't compete with recent college grads for rent, which is rising from $1200 to $1600 for a five-room apt.

Posted by: mopar at November 13, 2008 11:51 AM in response to Quote of the Day

Montrose Morris gets my vote for quote of the day with this comment:

"What I can do, with my ignorance, naivety and idealism, coupled with knowledge of building, history, architecture and urban life, is insist that the status quo is wrong...those bricks and nails don’t have to be configured in an ugly way just because the client isn’t rich. I can see other building projects for modest homes that manage to be attractive, contextual and still on budget...It just isn’t enough of a priority...because it doesn’t have a huge financial reward. That is wrong, and if all I can do is point that out, maybe someday someone will listen."

Posted by: mopar at November 12, 2008 3:36 PM in response to Next Victim in Crashing Market: Affordable Housing

Montrose, I am afraid the houses being foreclosed on in Brooklyn are ANY houses in Bushwick (and some in Bed Stuy). The vast majority are two families built in 1900. I've seen about 40 of them for sale. Most were already wrecked beyond repair ten or more years ago (interior walls destroyed and replaced by a warren of poorly installed sheetrock and Home Depot cheap-o doors). It's truly depressing. Only a few are Fedders buildings (since there aren't that many to start with). Just drive through the Bushwick Ave. corridor or anyplace South of Myrtle. You'll see a lot of for-sale signs and boarded-up houses.

You are absolutely right about how this disaster came to be: Deceptive fly-by-night companies targeted minority first-time homebuyers. You are the first person I've heard put it like that. Where can I read/see more about this? It seems to me the media is not covering this adequately -- or maybe I am reading the wrong media. Many of these buyers were middle-aged immigrants who did not speak English. Naturally, they wouldn't know what they were getting into. Also, in New York, where a lawyer is mandatory, the lawyers must have been in the pocket of the mortgage companies. This is like the flipside of redlining, and I can only imagine it's going to have a devastating effect on these neighborhoods -- not to mention it's already bringing down our entire economy and credit-fueled consumer way of life.

I just pray these people did not lose down payments.

Also, one other note: Every person I run into with a professional job keeps repeating over and over again: Why was I not offered these terms? Guess their credit wasn't bad enough.

Posted by: mopar at November 12, 2008 12:22 PM in response to Has the Buyers' Market Come to Brooklyn? Duh.

So true, wine lover. Of course they'll charge whatever the area gets per square foot.

Posted by: mopar at November 11, 2008 11:30 PM in response to Co-op of the Day: 45 7th Avenue

Denature: Perfect choice of words, Sam.

Posted by: mopar at November 11, 2008 11:26 PM in response to House of the Day: 72 Hicks Street

Pmmtenement, that is very interesting. Surprised there are no class-action lawsuits against the banks for not being more precise and forthcoming.

Re people who took out subprime loans with nothing down -- there may have been people in the business who thought they could flip houses. They should have known better. But it's the lax regulation, the subprime brokers, the banks and everyone who colluded with them to make money off the transactions who are to blame. They KNEW they were lending to people who couldn't pay.

Re the specific cases I know:

*My father, a high-earning engineer with a master's from Stanford, bought his last house with an ARM (not subprime) knowing it would reset and he would have to sell it before it did. He did sell it as planned and is now living in a rental in Palo Alto, where he has lived since high school.

*A middle-aged, married, Spanish speaking housecleaner with children. They bought a house (in Fremont, I think) with mortgage payments of $2,000 a month, which reset to $4,000. The family of four is now living temporarily with her brother in one room. She said they had NO idea the mortgage would reset, they were purposefully misled. I do not know if they lost a down payment. This is California, no lawyer is required.

*Here in New York, a 50-ish man and his wife, both Spanish speakers, no English at all, bought a two-family about two years ago in Bushwick. His wife needed an operation, he lost his job, and now the house is a short sale, I presume they are living there rent free but am not sure. They also have numerous renters, none of whom speak English and who work in grocery stores. I am not sure what the man does. Something along the lines of working in a grocery store or construction, I imagine. I don't know what he put down, if anything. These are hardworking, honest people. They are not irresponsible but I doubt they understood what they were getting into.

That reminds me: About a year ago, an arrogant contractor working in Queens and Long Island bragged to me about all the deals he'd done with people who were unqualified to own a house and didn't understand the transactions. He claimed the real estate agents would fill out the paperwork for the clients, who didn't speak English. So does that mean the lawyers were in the pocket of the real estate agents and mortgage brokers?

I just hope these people didn't lose down payments.

Posted by: mopar at November 11, 2008 6:49 PM in response to Citigroup Puts the Kibosh on Foreclosures

The Victorians would have used shutters and heavy lined velvet curtains. If you don't have any of those hanging around, used moving quilts might help.

Posted by: mopar at November 11, 2008 6:06 PM in response to Reducing Drqaft from Old Window

Have you called the gas company to see if the meter is reading correctly? I had absurdly high heating bills in the summer and after telling me repeatedly that this was normal, the gas company sent someone out to check the meters and sure enough, the outside meter was double the inside one.

Posted by: mopar at November 11, 2008 5:29 PM in response to Sorry, Denton, Master Plvmber Still Smells A Rat

The pass-through kitchen, new walls with no trim, the ceiling fan, and the recessed lighting are horrible. Plus it's not big enough for a couple. I used to live in a prettier, bigger apartment with a similar layout. The "second" bedroom is the closet.

Posted by: mopar at November 11, 2008 5:17 PM in response to Co-op of the Day: 45 7th Avenue

Sounds like a terrible idea. Where are the homeless going to sleep? There are probably lots of soon-to-be foreclosed buildings you could buy for cheap, though chances are they will have lead paint.

Posted by: mopar at November 11, 2008 12:01 PM in response to Armory/Homeless Shelter in Crown Heights

If you have open liquor bottles around, even empty ones, you will get fruit flies. If you wash the liquor bottles with soap and water, they will go away.

Posted by: mopar at November 11, 2008 11:55 AM in response to teeny tiny little fly infestation in my apt! help!

This talk about deadbeats is nonsense. I know two people in this situation, and both paid their mortgages faithfully until (1) the mortgage doubled from $2,000 to $4,000 a month -- this was in California and they had no idea this would happen -- they were victims of fraud and (2) the man lost his job and his wife needed an operation on her hip (this was in New York).

Posted by: mopar at November 11, 2008 11:27 AM in response to Citigroup Puts the Kibosh on Foreclosures

For Carroll Gardens posters, there's a little shop on Degraw about two doors in from the corner of Degraw and Court St. (so between Court and Clinton) that is wonderful. Owner is a permanently depressed Russian, does wonderful work. He knows how to make boots from scratch, although I doubt there is anything that would motivate him to do so. Prices are very reasonable. Unless, of course, it's been razed and turned into a slivers Fedders building since I moved out of there. Entirely possible.

Posted by: mopar at November 11, 2008 11:01 AM in response to Celebrating the Shoe Repair Shop

BTW, the reason a vacation house would not help is because the lenders look at your debt to income ratio. If you already have one house, your debt to income ratio will probably be too high to qualify for another. (Unless you're loaded.)

Posted by: mopar at November 10, 2008 11:30 PM in response to mortage advice for clueless first time buyer

A real estate agent was just telling me the other day you can get a 301K loan with a 3 percent FHA loan down to do renovations, but I never asked my mortgage broker about it. We're hoping to put down 20 percent so we don't have to pay the PMI. It's interesting you're looking in Bushwick -- we are also looking in Bushwick. We have been looking for a long time. There are many bargains -- the lowest I have heard so far is $420,000 for a two family (three floors) but everything is indeed in need of a gut renovation and we have zero interest in that. An engineer told us a gut renovation of a two-family would be at least $75,000 and I don't think he meant a fancy one. A vacation house will make it more difficult, not easier, for you to qualify for a mortgage. Maybe you should chat with a mortgage broker about all these things. They will tell you how much of a loan you qualify for and you are under no obligation to use their services. Tell them you want to get prequalified.

Posted by: mopar at November 10, 2008 9:18 PM in response to mortage advice for clueless first time buyer

Restaurants are closed on Monday so the people who own them can have a day off. They usually go out to eat.

There is a very ordinary looking falafel place that I think might be on 5th Ave near a bagel place but I am not sure. It is absolutely fantastic. Narrow space, nothing fancy, very inexpensive. The best falafel I have ever had, fresh, homemade, green, and the pita seems to be homemade. Everything else I had there was fantastic too, including the lemonade and baklava.

Tragic how I can't recall where it is or what it's called.

Posted by: mopar at November 10, 2008 12:54 PM in response to can anyone suggest a decently priced, but good restaurant in park slope?

Somehow I totally missed this post. I am so sorry to hear you lost your job, Cobblehiller.

Posted by: mopar at November 8, 2008 9:38 AM in response to NYC Police and Fire Fighters Next to Feel Budget Pinch

There are some gorgeous low-income houses in San Francisco. They are simple with bay windows, fit into the landscape, have pretty details. Never been inside.

A new place needs two things to be nice: High ceilings in the living/dining/kitchen area and decent size windows.

There are some early '90s, inexpensive market-rate condos in the Raleigh Triangle area that offer this. It's really not that hard.

Posted by: mopar at November 7, 2008 10:42 PM in response to Horror Show Friday

Nice photo, Jimmy Legs. The NY Daily News is doing a good job covering this story. They seem to be the only paper aware of what is going on.

The neighborhoods seem likely to suffer because mortgage brokers knowingly made bad loans. I just hope most people who are losing their homes didn't put money down. In New York, unlike other states, buyers are required to have lawyers. Didn't their lawyers inform them of the risks? Or were they in the pocket of the mortgage brokers?

Everyone benefits from safe, affordable, diverse neighborhoods with retail amenities. Like Jackson Heights. It's a balancing act.

But clearly the way things are going, housing costs are going to go down or flatline in the next few years. Unfortunately, I'm afraid there are going to be a lot of job losses at the same time.

Posted by: mopar at November 7, 2008 11:25 AM in response to Fewer Mortgages for Minority Communities

That is a nice block on Decatur. Couldn't be better. Wonder what happened there.

Posted by: mopar at November 6, 2008 11:13 PM in response to Foreclosures of the Week: Bed Stuy Doubleshot

At first I though they were wild roses, but now that I look closer, maybe it is some kind of clematis.

Posted by: mopar at November 6, 2008 10:59 PM in response to Closing Bell: Late Bloomers

To summarize today's news:

*Condo developments are unsalable and defaulting, like coops in the 1930s and late 1980s.

*Huge number of foreclosures going through the system, evictions (of renters and owners) have started, more short sales in Queens, Staten Island, and Brooklyn coming down the pipe. Will the foreclosures remain boarded up for a decade?

*Bronx, Manhattan, prime Brooklyn remain strong.

*Taxes going up, inessential services cut back.

Posted by: mopar at November 6, 2008 1:21 PM in response to Thursday Links

There must be many condos in that general area available at that price. Check Craigslist, the NYT, local papers, real estate offices in the area, and ask people going in and out of the building you're interested in.

Posted by: mopar at November 5, 2008 10:47 PM in response to looking for a cheap condo

Oh Christ and right next to the crazy car service building with the mansard roof. Now it's all beyond hope. There's a string of unfinished "luxury" lofts here that seem to have been under wraps for a very long time. The location is awesome -- maybe the market will turn all these condos into "affordable" housing?

Posted by: mopar at November 5, 2008 10:24 PM in response to Development Watch: 365 Union Avenue

Hey, Dave, Cobblehiller, I was at Peaches from 7:45 to just after McCain's concession speech. (They put the sound on for that.) I thought I saw you, Dave, and went over to say hi but then I thought it wasn't you. But I guess it was! If you walked through the door to the dining room and just kept on walking, you'd be at the first table you'd bump into. Now I'm so sorry I did not say hello. Anyway, we all got excited over Pennsylvania, Ohio, and then really excited over Virginia and then the place went crazy when they announced Obama had won. I couldn't believe it. I thought we'd be up for months counting the ballots. So happy that was not the case. People were screaming, hugging, dancing, and honking their horns -- it was jubiliation.

Posted by: mopar at November 5, 2008 10:11 PM in response to Paint The White House Black!

Glad someone is covering this issue. We have seen a spike: Foreclosures are up 50 percent, the article says. Also, while the article is optimistic that there won't be a lot more, I doubt that's true, at least in Bushwick and Bed Stuy. Place is littered with short sales. If no one buys them, they'll turn into foreclosures, evictions, boarded-up buildings.

We're in an interesting moment right now. There are a lot of people living rent and mortgage free in Bushwick right now and the bank hasn't kicked them out yet, nor is it in their interest to do so.

I haven't heard of a single person actually involved in any "foreclosure rescue" programs -- have you?

Comps are going down like crazy.

What do you think will become of these neighborhoods in a year or five or ten?

Posted by: mopar at November 5, 2008 2:00 PM in response to Foreclosures up in NYC: Queens, Bushwick Hurting

And dave, where were you? Didn't see you.

Posted by: mopar at November 5, 2008 11:20 AM in response to Paint The White House Black!

Yahoo, it's a new day. The U.S. has elected its first African American AND its first intellectual as president. I am amazed and ecstatic. New Yorkers were dancing in the streets last night. George Clinton is the best. Everyone stop picking on The What.

Posted by: mopar at November 5, 2008 11:19 AM in response to Paint The White House Black!

We WON!!!!!!!!!!!

Posted by: mopar at November 5, 2008 12:15 AM in response to You better get this one right...

Oh, sorry, when I used bleach it was to counteract mildew smell. Maybe you have something else?

Posted by: mopar at November 4, 2008 5:17 PM in response to Smell from Sink

Putnam, thanks for explaining. I'm still confused though: If they can vote for whoever they want, then how can their votes be preallocated?

Posted by: mopar at November 4, 2008 5:14 PM in response to You better get this one right...

Brownie: Are Crown Heights and Bed Stuy landmarked? The brownstones there are beautiful. But short sales, at least in Bed Stuy, are causing prices to drop dramatically in the last few weeks. You may not know it looking at a real estate agency's Web site. But if you are a buyer in the market, they let you know the owners are considering substantial price cuts. The comps are dropping. The houses won't appraise now for what they would have appraised for before Oct. And the buyers can't get mortgages if the houses don't appraise.

Posted by: mopar at November 4, 2008 5:01 PM in response to Last Week's Biggest Sales

Eh, this quote is really wrong. "Prime" Brooklyn will go down only a little, if at all, just like the San Francisco Bay Area during the 1989 and dot-com crashes. "Marginal" Brooklyn has already dropped 40 percent in the last two weeks (compared with prices in 2007). It's frightening. And there are only more pre-foreclosures and boarded-up buildings to come. It looks like Florida, Modesto, Arizona out there. Rest of Brooklyn would have to end up somewhere in the middle, I would think.

Posted by: mopar at November 4, 2008 4:35 PM in response to Quote of the Day

Putnamdenizen, I thought the electors were free to vote for whoever they want. Or am I confusing the electoral college with the Democratic primary process? Can't make heads or tails of the Wikipedia entry.

Posted by: mopar at November 4, 2008 3:26 PM in response to You better get this one right...

Every so often, pour a bit of bleach and hot water down the drain, let it sit. Works wonders.

Posted by: mopar at November 4, 2008 3:15 PM in response to Smell from Sink

OMG, there's such a thing as a roachy smell? What is that? I am familiar only with the mousey smell (much like wet dog).

Posted by: mopar at November 4, 2008 2:23 PM in response to The Roaches. The agony

Obama will win New York, but the margin by which he wins is key to electoral college voting, which will determine whether he wins the country. So, in a close election, unless you don't like any of the candidates, it's important to vote wherever you live.

Posted by: mopar at November 4, 2008 1:57 PM in response to You better get this one right...

The regular BM paint has awesome coverage already. I have never needed more than one coat. But I have never painted light over dark. I did once paint tomato soup red over white though and that only needed one coat.

Posted by: mopar at November 4, 2008 1:48 PM in response to Aura paint

Ask the super to disconnect a few of your radiators altogether. I did this in my last apt, it was no big deal. Took five minutes, he did it all the time. Before I got the one in the bedroom disconnected, I was becoming seriously nauseated in the evenings. It was bizarre.

Posted by: mopar at November 4, 2008 1:45 PM in response to Overheating

Call your gas company. They may send someone out to check the appliance and the meter.

Posted by: mopar at November 3, 2008 5:42 PM in response to Calling MasterPlvmber!

It varies, depending on the size and age of the building. The later Victorian buildings (1880s, 1890s) you see in Park Slope, Crown Heights, and Bed Stuy tend to be three or four rooms deep plus baths to side and can accomodate two bedrooms. You can check a building's dimensions on PropertyShark.

Posted by: mopar at November 3, 2008 3:54 PM in response to Brownstone Apt Layouts - Park Slope

We carefully inspected the neighborhood Sunday afternoon. Also stopped by briefly Friday night and Wednesday night. There is no doubt the Broadway-Bushwick corridor is one of the poorest and most blighted (boarded-up houses) in the city, and given the economy, it can only get worse. (Though if Obama wins, that will raise hopes.) The block itself appears to be moderately OK. I am no mind-reader, but my best guess is that it is neither renters nor owners, but rather mostly grandchildren of owners, sporadically employed. Everyone seemed pleasant. People hang out in their yards, but it is quiet. There are a few flowers and a community garden on the corner. We have old friends six blocks away at the Gates stop. We believe it would be prudent to stick with Wyckoff Heights and Stuyvesant Heights. OTOH, we will never see a house like this again. We can't make up our minds. Any more thoughts, anyone?

Posted by: mopar at November 3, 2008 11:36 AM in response to More about Bed-Stuy

Dave, you beat me to this post. We had brunch at Peaches yesterday, was delicious. We are going there for dinner on election night. See you soon.

Posted by: mopar at November 3, 2008 11:22 AM in response to Peaches In Bed Stuy To Air Election Results

Prices have gone down a lot since 2006 (not Aug) but I would still expect a three-family to be worth at least $500,000 at this point. Short sales of two families in Bushwick can be found in the $400,000s. They are in poor condition. I also know of a comp in Bed Stuy that closed in Aug in the high $400,000s and was a three family (in what was originally a two family, so just three stories plus an underground cellar). Also I would think the location and condition of the house could make a difference.

Posted by: mopar at November 2, 2008 10:34 AM in response to Crazy Low Appraisal

Thank you Aida and everybody. We're deciding this weekend, if we go ahead we will be contacting experts to do a walk-through in the next two weeks. If anyone else has additional recs, bring em on.

Posted by: mopar at November 1, 2008 3:32 PM in response to Inspector for brownstone?

Then again, maybe they need to face reality and just rent the apt with a normal lease and not try to sell it.

Posted by: mopar at November 1, 2008 10:26 AM in response to Weirdest rental situation

I would definitely be a hard ass about what you demand, but as long as you're getting all your extra expenses paid, go for it. Moving isn't that much of a hassle -- if you don't have a lot of stuff. I moved twice in one three-month period. Just pare down and throw out the junk. It's like going on a diet. Feels good. Don't forget the cost of buying boxes twice. But I wouldn't count on the apt not selling. Maybe. Depends on how unreasonable the price is. Can you rent to buy? Ha. Now there's a demand. Have you seen anything else this good in Fort Greene? Check the by-owner listings on Craigslist. You will find large floor-throughs as low as $1800.

Posted by: mopar at November 1, 2008 10:25 AM in response to Weirdest rental situation

Also, if this apartment is bigger than a studio, don't overlook the possibility of sleeping (at least temporarily) in another room.

Posted by: mopar at November 1, 2008 10:16 AM in response to insomnia

I've had this exact same problem, but my neighbors were extremely nice and accomodating. First of all, do you have a wall-to-wall carpet in your room with a thick pad under it? That will help. Second, most coops have clauses in their shareholder leases stating that shareholder tenants cannot interfere with the right of others' "quiet enjoyment" of their apartments and words to that effect. Then you have to hope your super and the board actually enforce it. Speak to your super. If nothing is done, consult the board. Your last resort would be to consult a lawyer.

Posted by: mopar at November 1, 2008 10:15 AM in response to insomnia

You are absolutely right there is very little demand for this low and middle income housing. If they could afford to buy the government housing, they could afford to buy the houses that are in foreclosure -- they are so cheap. However, better that the government snap them up and babysit them and maybe fill them with rental tenants than leave them molding with no supervision from the owning banks. I was happy to see this news, happy that NYC is aware there is a growing and very serious problem with abandoned buildings, even if the solution sounds a little bit no longer relevant in the current situation.

Posted by: mopar at November 1, 2008 12:52 AM in response to Government to sell Brooklyn houses as low income

What's a kalashnikov or kel-tec?

Posted by: mopar at November 1, 2008 12:44 AM in response to Automatic Arms Fire on Monroe

Sorry to miss all this. I was distracted by layoffs at my company and faxing an offer letter. How topical. Happy weekend to the What and everyone.

Posted by: mopar at October 31, 2008 6:47 PM in response to You got had! Banks must lend out bailout money, Rep. Frank insists

Inthehood, of course $24 million isn't going to make a dent in the economic crisis. And 115 out of 11,743 houses in NYC isn't a lot (let's hope it's one per block). So far, most of these houses in Bushwick still have the original owners living in them rent free. That's fine. But those that are empty and abandoned are attracting vandalism and crime. Better to have a low-income house on a block than an empty one. That's what they mean by "stabilizing" the neighborhood.

Posted by: mopar at October 31, 2008 4:07 PM in response to City Will Buy Foreclosed Homes

This is indeed a very positive development. And to Sebb, we do have a very serious housing crisis in New York. It's just in select neighborhoods you may or may not have seen. Bushwick, for example. And apparently Jamaica, going by this article. I posted yesterday about Bushwick being full of short sales and abandoned buildings that were getting broken into. Serious problem. Very bad news for the people living in those neighborhoods.

Posted by: mopar at October 31, 2008 12:24 PM in response to City Will Buy Foreclosed Homes

Ah, rental beige it will be, I guess. My own landlord painted with Benjamin Moore linen white (I think) on the walls and Decorator White on the trim. I don't love it, but it does go with absolutely everything, and the wall color actually looks like a pale yellow.

For the owner's apt, agree you don't want to go too dark or dark all over the place. A nice medium color can be good in a center dining room with no windows, and a cheerful medium bright-ish light-ish color can be nice in a hallway. I like to keep the parlors and bedrooms pale but not necessarily completely neutral.

That brownstone for sale on Putnam actually had medium dark gray walls with white trim, and Martha Stewart green in the kitchen with white trim. Looked terrific.

Posted by: mopar at October 31, 2008 12:12 PM in response to Paint colors for tenants?

Serpenter, that is exactly my concern. I have walked through old buildings with engineers and contractors and they go on and on and on and on about how the building or the apartment is a piece of garbage because it doesn't have the wiring and plumbing of a new tract house on Long Island. This is not only aggravating but useless. I don't want to buy a tract house on Long Island, I need to know how much it will cost to make the brownstone livable, just as you say.

So where do I find one of these inspectors or these contractors who understand brownstones? Thanks all.

Posted by: mopar at October 31, 2008 11:58 AM in response to Inspector for brownstone?

Layoffs all over the place this week in media, law, finance, retail -- all the areas that remained strong after the end of manufacturing and were propped up by credit-card spending. We are just at the beginning of a depression that could go on for two or ten years. The work world is transitioning from old-style companies to the lower-payer Internet world. The marginal neighborhoods from Florida to Bushwick to East Palo Alto are full of foreclosures and abandoned buildings. The banks are holding all these properties, don't know what to do with them, can't get rid of them. (Meanwhile, property still holding up just fine in Palo Alto and Brooklyn Heights.) If the government can't borrow money or oil becomes scarcer, the American way of life (sprawl, industrial agriculture, cars) will go poof. In the meantime, crime seems likely to increase in these hard-hit neighborhoods, if it hasn't already.

Posted by: mopar at October 31, 2008 11:51 AM in response to You got had! Banks must lend out bailout money, Rep. Frank insists

Well, I mean when you do the engineering inspection before signing a contract. But maybe it is not appropriate to ask the inspector how much things cost to fix.

Posted by: mopar at October 31, 2008 12:07 AM in response to Inspector for brownstone?

Thank you, this is fantastic.

Posted by: mopar at October 31, 2008 12:02 AM in response to Cost of electrical upgrade

Oh boy. Could the owner's duplex be a triplex that includes the fourth floor? As in the Little Princess?

Posted by: mopar at October 30, 2008 6:44 PM in response to House of the Day: 400 Dean Street

Well, I mean, even a rough estimate? I see that completely replacing every wire in a four-story house will cost $50,000 (not including the plastering and painting). We're trying to decide how much to bid on a house that needs electrical work. Would like to know if it will cost us $5,000 or $50,000. Thank you.

Posted by: mopar at October 30, 2008 5:06 PM in response to Cost of electrical upgrade

Hey, this new building is actually much better than most. It blends in. The windows look nice. If every infill building was this good, we would be lucky. Also, FYI, developers of infill buildings on the West Coast (Palo Alto, Portland) and in Florida have started building new buildings to look like old ones. Arts and Crafts cottages are extremely popular. There are even fairly convincing fake Victorians with gingerbread galore. The biggest difference is that on the insides, they have combined family rooms-kitchens, which apparently no buyer can be without. Naturally, these spec infill houses have smaller footprints than a McMansion and more expensive details and built-ins. It's quality over quantity.

Posted by: mopar at October 30, 2008 1:38 PM in response to Development Watch: 272 19th Street

Yup. I know someone who has lived there in a house she owns for 30 years (some kind of controlled income owned housing).

Posted by: mopar at October 30, 2008 1:31 PM in response to Preserving NY's Industrial Buildings, Not Just for Nostalgia

The razing of Admiral's Row is one of the most evil things. Does anyone know if this is being reconsidered in light of the changes to Ratner's development plan post-economic meltdown?

Also, people who've owned their own houses in the Navy Yards for 30 years are being forced to move. It's controlled-income not market-rate coops, so not sure what kind of compensation they're getting. It's horrible.

And criminally short sighted. They should do something with it like the Presidio in San Francisco, turn it into a park and historic site, basically. And let people stay in their houses.

Posted by: mopar at October 30, 2008 1:23 PM in response to Preserving NY's Industrial Buildings, Not Just for Nostalgia

Jeez, who could buy in Feb then get foreclosed on by July? Developer who lost financing? Any guesses?

Posted by: mopar at October 30, 2008 12:41 PM in response to Foreclosure of the Week: 167 Prospect Place

I was planning to move to India to get a job in customer service. Auuugh, layoff story in NYT today so depressing. Obama, OTOH, so exciting. Dave, anyone, you still planning to go to Peaches or Solomon's for election results Tuesday? I think we might swing by one of those places around dinner time, maybe stay for a while.

Posted by: mopar at October 30, 2008 12:39 PM in response to Brooklyn Bargains? This Week's Condo Price Cuts

Wow, this is bad. There is a similar building in Jackson Heights but without the garages. I have often wondered about how the design came to be. It does have many windows (luxury!) and high ceilings but looks sort of odd like somehing built during Roman times.

Posted by: mopar at October 30, 2008 11:04 AM in response to "Tuscan" Townhouses Coming to Red Hook

I used Aura in a pea-shoot green and did not care for it. The color looked artificial and the paint was gloppy. (Guess that's because of the coverage.) I prefer the regular BM paint, have used it in three houses now. If you are painting over plaster, particularly in a brownstone type building, I highly recommend Farrow & Ball. It is also non-toxic and natural, has been since it was created. It has a beautiful powdery finish and soft colors that recede instead of hit you over the head. About $50 per can including delivery if you get it wholesale. Not sure about retail prices, but there is a retail store in Soho now.

Posted by: mopar at October 30, 2008 12:30 AM in response to Aura paint

If you do allow it, you can add some clause to the lease about how she's responsible for water damage.

Also, why does she need the dryer? Have the washer and drip dry on a line over the tub.

Posted by: mopar at October 30, 2008 12:15 AM in response to Tenant Wants to Install Own W/D

Also, troll, you missed about a million other stores and restaurants on North 6th, Driggs, Grand, Union, and in South Williamsburg -- you have no idea.

Posted by: mopar at October 29, 2008 5:49 PM in response to Streetlevel: New French Restaurant Coming to W'burg

Oh noes! Apparently the "New York for Sale" meeting was last night. Pooh, I'm sorry I missed it. Did anyone go? What happened?

Posted by: mopar at October 29, 2008 5:44 PM in response to Housing Crisis in Bushwick

Every neighborhood should have a Thai restaurant. It's the new chicken in every pot. I bet those folks at Make the Road sneak off every now and again for some tasty Thai food.

Just had an odd thought...as old companies lay off everyone, those people are going to wind up online blogging, selling, consulting, day trading, etc. Not saying they will make much money at it, but talent and experience is going to be transferred from the old sector to the new Web 2.0 world during this economic depression.

Posted by: mopar at October 29, 2008 2:47 PM in response to Housing Crisis in Bushwick

Gimme a break. People making over $250,000 a year can afford higher taxes. All Obama is advocating is a return to the tax schedule pre-George Bush. I don't think he's advocating an increase in welfare, but it's a tiny part of the budget. Employers like the writer of this letter don't want full employment, and without full employment, somebody's going to have to rely on charity. We're not likely to see a budget surplus any time soon, if ever again, but if we do the government needs to stop borrowing money, pay down its debt, and figure out a way get health insurance for everyone. Nobody can afford to self-insure, not even those making over $250,000 a year, and certainly not those with pre-existing conditions. Free university education for qualified applicants would also be a tremendous boon for this country.

Posted by: mopar at October 29, 2008 1:23 PM in response to Cory Miller, Well Driller. A Real American

My apologies if your specialists have already tried this, but we had a real infestation in a former apartment. The landlord hired an exterminator. We plugged all the holes in the building with steel wool. Then the exterminator put out poison that made all the mice rush downstairs and out of the building in search of water and die there. Problem solved completely.

Posted by: mopar at October 29, 2008 1:07 PM in response to caravan

Anyone who uses the word REALTOR, especially in all caps, is one.

Posted by: mopar at October 29, 2008 12:46 PM in response to House of the Day: 206 208 Hancock Street

Sam, I'm drooping with laughter. Re article, does anyone believe interest rates are going to go DOWN? This contradicts everything I have heard. But would change everything.

Posted by: mopar at October 29, 2008 12:32 PM in response to Housing Slump Almost Over

Wow, Jimmy, that's very encouraging indeed. I agree with you about the cheese shops attracting the wrong element. :)

Posted by: mopar at October 29, 2008 11:18 AM in response to More about Bed-Stuy

Yes. The slight uptick in home purchases we are seeing is not the rebounding of the market, but rather people who are well-off who are buying well-priced properties. The majority of people are not in a position to buy. In addition, interest rates are going to increase, making even low-priced homes harder to afford, and more people are going to lose their jobs.

Posted by: mopar at October 29, 2008 10:50 AM in response to This is a heathy housing market, NOT!

Wasder, you have Internet on moving day!? You're so organized. Congratulations again on the move. Very exciting.

Posted by: mopar at October 29, 2008 10:33 AM in response to Where is Wasder?

I love the What. He knows what's happening from Lodi to Fulton St. And his sense of humor is better than nybk01's. Wasder, congratulations on moving into your new house.

Posted by: mopar at October 28, 2008 7:03 PM in response to Are you still in denial about the implosion of the Mutant Asset Bubble?

This is very helpful, thank you for posting.

Posted by: mopar at October 28, 2008 6:40 PM in response to Restored Antique Door Hardware

Thanks, gkw. Ironically, for me, the issue is not that I can't afford to buy in an area I love. I currently live in the Wyckoff Heights section of Bushwick near the Kekalb stop and I love it and want to buy there and can afford it. The problem is that I can't find a home in original condition. I can't even find a house in halfway decent condition. Everything is a total wreck, a complete gut job. I have a passion for historical homes and original kitchens and baths. I would rather rent for the rest of my life than live in a new house.

Posted by: mopar at October 28, 2008 6:28 PM in response to More about Bed-Stuy

Dave, what should one say when the realtor says an offer has been made as one walks in the door? What is to keep realtors from making up fictitious offers?

Posted by: mopar at October 28, 2008 5:59 PM in response to House of the Day: 206 208 Hancock Street

Thank you so much, vanburenproud for these very informative posts. There are people around, just not much retail. (The empty lots are on Broadway, not residential, but your point is still valid.) We will do everything you suggest.

Posted by: mopar at October 28, 2008 4:45 PM in response to More about Bed-Stuy

Heh, good one, What.

Posted by: mopar at October 28, 2008 1:59 PM in response to Explosion at 8:50am?

And Vanburenproud -- you're close to the Myrtle J, right? Something is going on there with retail improvements, you think? If you have renters, how is that going? I look around the Halsey stop, and it doesn't look like anything will change there for many years.

Posted by: mopar at October 28, 2008 1:30 PM in response to More about Bed-Stuy

Or you can use an interior designer, not a decorator. They have a degree similar to an architect. They draw precise blueprints and diagrams for your contractor to follow. You may want to find one who specializes in Ikea. If there are issues with clearance, electrical siting, or unusual things to work around such as gas lines, they are very helpful.

Posted by: mopar at October 28, 2008 1:20 PM in response to Create a hobby/media area

Jimmy Legs, Jimmy Legs, we saw the inexpensive house on the border of Bed Stuy and Bushwick at the Halsey J stop last night. Oh, it is our dream house. Nothing has been changed since it was built. Oh, wait, that's not entirely true -- at some point they put in a few light bulbs hanging from wires and capped off the gaslights. Needs a lot of work but it's mostly cosmetic. (Stripping, refinishing floors, skim coating, painting, etc.) Plus new electrical. The floor plan is perfect for us. Jimmy, do you have any wooden fireplaces in your place? Because now I know how they were originally painted: To resemble slate with marble inlays. Jimmy, how has your experience with renters been? Our biggest concern is the location. It's just deserted. There is virtually nothing there but a laundromat. And some empty lots, presumably from the arson, looting, and blackout of 1977.

Posted by: mopar at October 28, 2008 1:14 PM in response to More about Bed-Stuy

This is just so incredibly helpful, please keep those comments coming if you have any more. To clarify, one house was originally a two-family and one house was originally a one family. The original two family is "easier to rent" because it's already two separate apartments with doors. And each apt has two or three bedrooms, so they rent for more, whereas the rental apt in Stuyvesant Heights is only a one bedroom. Another factor: If we buy the border place, our monthly carrying costs stay the same as our current rent. If we buy in the Heights, our costs go up quite a bit. And we don't have proper bedrooms (we'll be living in a parlor). But it's a very grand house in a grand location.

Posted by: mopar at October 27, 2008 5:44 PM in response to More about Bed-Stuy

Thank you so much, everybody. Ibis, this is invaluable. Yes, it is the house you are thinking of. We intend to stay for the rest of our lives. But we need to be prepared for the worst-case scenerio.

Also, we are debating another house that is less grand but more practical and affordable in a less gentrified area of Bed Stuy near the Bushwick border. It's an original two-family, not a brownstone conversion, so it's much easier to rent. And the rent is higher.

Where are you all planning to watch the election results? We saw a flyer for a get-together in a Bed Stuy church sponsored by the Boy Scouts. (Don't recall the location.)

Posted by: mopar at October 27, 2008 3:21 PM in response to More about Bed-Stuy

It sounds like the seller in Bushwick probably had an unrealistic idea of what her property was worth in the first place. I haven't seen her property, but the most I have ever heard of a two-family selling for is $600,000 in 2006, and hers was priced at $800,000.

Posted by: mopar at October 27, 2008 11:57 AM in response to The Housing Crisis Has Arrived

Buckfire, the ad should say security is $1550, not $4600. However, it will cost the renter $4600 to move in.

Posted by: mopar at October 26, 2008 1:55 PM in response to ADVISE NEEDED ON HOW TO GET RENTERS

Hey there! Thanks for this great info. Guess what? Saw another beautiful and affordable brownstone in Bed Stuy today, it's killing me. Jimmy, I can't believe how fancy Stuyvesant Heights is. Have you been there? There are cafes, restaurants, a bookstore, etc., centered on Lewis naer Macdonough. And some kind of health food store coming called Butternut. It's an easy trip by car.

Posted by: mopar at October 25, 2008 11:42 PM in response to Curious about Bed-Stuy

Apt is $1550 with a depost of $4600 and it's on Van Buren St.

Here's the CL post:

http://newyork.craigslist.org/brk/abo/892900314.html

The deposit is high, and you do not give a cross street. I can't tell from your description where it is located. It can't be near the J, the G, and the A/C as you claim - unless what you're saying is that it's not near any of them, in which case the inconvenient location could be a major factor.

Posted by: mopar at October 25, 2008 8:28 PM in response to ADVISE NEEDED ON HOW TO GET RENTERS

Oh, I see, this post is on the board twice. Sorry.

Posted by: mopar at October 25, 2008 11:25 AM in response to ADVISE NEEDED ON HOW TO GET RENTERS

As a renter, I have dealt with agents who I know for a fact did not check my references and lied to the landlord and said they did. As a landlord, I would never use an agent. I could do a much better job screening tenants myself.

Posted by: mopar at October 25, 2008 11:23 AM in response to ADVISE NEEDED ON HOW TO GET RENTERS

The first two postings on here are now gone. That is so wierd. One was very informative about how to pre-screen people over the phone. The second was mine, just saying good photos and spelling are appreciated by good renters. I can't imagine why BS would remove them. Any idea what happened to them?

Posted by: mopar at October 25, 2008 10:20 AM in response to ADVISE NEEDED ON HOW TO GET RENTERS

Have been dying to visit your store for years but never get out there. So happy you're opening in Williamsburg.

Posted by: mopar at October 25, 2008 10:10 AM in response to Bird Blog: Week 20

Thanks to Bloomberg, I was able to quit smoking. The temptation isn't there any more.

Also, I will soon be a landlord and I would support very mild rent control of the type they have in San Francisco. When a renter moves into any unit, you cannot raise their rent more than a certain percentage per year (it's quite generous, changes according to the cost of living index, and is set by the City Council). When they leave, you can charge the next renter anything you want.

Like anything, it's not perfect of course. But it does give renters some of the stability owners enjoy. And it's not an economic hardship on the owners.

Posted by: mopar at October 25, 2008 10:07 AM in response to Tish and BdB Suing Over Term Limits

Outlawing artificial trans fat was brilliant. He's won me over for all eternity for that one. Maybe he can outlaw Fedders buildings next.

Posted by: mopar at October 25, 2008 9:59 AM in response to Tish and BdB Suing Over Term Limits

Nice photos are key, and this photo is beautiful. Also, avoid sounding like a broker. There are tons of unlicensed, illegal brokers posing as owners on Craigslist and I skip their ads.

To avoid sounding like a broker, all you have to do is use spell check and keep the descriptions informative and factual rather than vague and hype-y. Avoid exclamation marks.

Sounds like a beautiful apartment.

Posted by: mopar at October 24, 2008 6:13 PM in response to ADVISE NEEDED ON HOW TO GET RENTERS

Jimmy, I keep seeing a listing for this cool looking house on Decatur one block off Broadway. It can't be all that dangerous walking home from the subway when there's only one block to go off Broadway. Is this right where you are? How is the JMZ train for service? Any decent restaurants nearby?

Posted by: mopar at October 24, 2008 4:43 PM in response to Curious about Bed-Stuy

Funny how much talk about cars there is on this site.

Posted by: mopar at October 24, 2008 3:55 PM in response to Oh no.. World markets collapse..

From what I can see in the pictures, it looks like 1240 Carroll started out life as a fairly humble row house, quite likely a two family, and the others were more grand. And it needs work.

Posted by: mopar at October 24, 2008 3:44 PM in response to Open House Picks

Dave, 7andfive, all: There were a lot of car companies back then and they consolidated because it was a new industry. Same with radio. Same with pretty much all industries before and since. I think the patterns are going to be slightly different now with the Internet. Goodbye, traditional media and retail, we don't need you any more. Agree with 7andfive re unions. Agree with What, current crash was caused by greed and delusion -- the deregulation was invented by the neoconservatives and happened under Reagan, Bush and (to a lesser extent -- he wasn't the architect of it but he want along with it) Clinton.

Posted by: mopar at October 24, 2008 2:21 PM in response to Oh no.. World markets collapse..

Hey, it's educational. Thank god there is now a public forum where we can make fun of the shocking ruination of our housing stock.

I am deeply sorry WSJ missed the little "hep of poop" scandal over at BushwickBK. A real estate agent made a complete fool of herself trying to defend herself by posting multiple times anonymously.

Maybe Brownstoner could offer classes to agents, developers, builders, and remodelers. Agents: Use spellcheck and take photos. Builders: Make the ceilings high and the windows big. Remodelers: No country cupboards from Home Depot, don't stain the floors purple, and don't build closets that jut out into rooms and hallways.

Posted by: mopar at October 24, 2008 1:39 PM in response to Real Estate Blogs "A Great Forum to Vent Anger"

Indeed, change happens constantly everywhere. And it has both good and bad effects. There is a fantastic book on gentrification in Clinton Hill -- maybe you've read it -- by Lance Freeman, an African American man who grew up in Harlem and is now a professor of architecture at Columbia, called "There Goes the Hood." My only criticism of the book is that it downplays the negative effects of a rise in rental prices on poor and elderly renters. (I've seen that first hand in the Bay Area.)

Posted by: mopar at October 24, 2008 9:29 AM in response to The prefect financial storm has hit land..

Here's the New York Times' brilliant explanation today:

"This time, New York has been one of the last regions in the country to see weakness in housing. Across the country, housing helped lead the economy into recessionary conditions rather than the other way around. That’s largely because the nation actually experienced a “mortgage boom,” rather than a “housing boom,” which was brought about by a complete lapse of regulatory oversight, historically low mortgage rates and the disconnect by all parties including ratings agencies, commercial banks, investors, Wall Street and borrowers over the relationship between risk and reward."

The other expert in the story also characterizes the collapse of the exurbs as stemming from the flight TO the core cities. Well, OK, I'm misquoting. She says it stems from lower prices in the core. (Hm, seems like prices in the core didn't go down until after the exurb collapse.)

Here's the link:

http://realestateqa.blogs.nytimes.com/2008/10/17/expert-qa-a-downturn-for-new-york-real-estate/

Posted by: mopar at October 23, 2008 8:12 PM in response to The prefect financial storm has hit land..

Whoever diehipster is, s/he is even funnier than The Burg.

Posted by: mopar at October 23, 2008 6:45 PM in response to The prefect financial storm has hit land..

Wasder, I'll have to ponder this. Gentrification isn't merely a rise in prices. It's relatively well-off people moving into a poor neighborhood, right? It's the reversal of the move to the suburbs in the '50s, '60s, and '70s.

Posted by: mopar at October 23, 2008 6:38 PM in response to The prefect financial storm has hit land..

Cobblehiller, I was living in the SF Bay Area in the 1977, where real estate prices skyrocketed immediately after California passed Prop 13 and froze property taxes in 1978. But I have heard a great deal (and seen the photos) about the arson, blackout, and looting in Bushwick in the '60s and '70s. Whole blocks were reduced to rubble.

Wasder, we're both gentrifiers.

Posted by: mopar at October 23, 2008 4:41 PM in response to The prefect financial storm has hit land..

Real estate is NOT localized any more, as the current economic crisis shows. Fly-by-night mortgage lenders looking to make a quick buck lent to people they KNEW could not pay. The lenders didn't care, because the lenders would roll up all the mortgages and sell them as a group to another bank so the debt would be on their books. Then everyone defaulted, and the losses spread to insurance, etc., etc., then throughout the entire banking system (banks that have not yet failed are rumored to be on the brink, such as Citibank, where I am a depositor), then the entire credit market, then throughout the stock market, and is now spreading through every industry (retail, construction, auto, etc.) and the globe and the result will be many layoffs.

Either it will stop there and this will just be a very bad global recession/depression for five or ten years but life will go on as we know it OR the U.S. government, now trillions of dollars in debt, will be unable to pay back its loans and/or other governments will lose faith in our ability to pay back our loans and the result will be (maybe) that we don't get any more loans, at which point the US will be bankrupt and then you will see police and military unable to function and a total breakdown of law and order such as happened in the former Soviet Union and there will not be peace and love and sharing in Brooklyn but rather a lot of what The What has already so colorfully described from the safety of his reinforced bunker.

Actually, states such as California are already deep in the hole and I heard NY was already cutting back on police. (Not sure if that's true.)

Looking on the bright side, however, things in my neighborhood of Bushwick can't get any worse than they already were in 1977.

P.S. This is all the effect of the deregulation of the banking and credit card industries. The U.S. is the world's irresponsible teenager, spending money it doesn't have so manufacturing in China can grow.

Posted by: mopar at October 23, 2008 2:23 PM in response to The prefect financial storm has hit land..

Call Moon River Chattel selvedge in Williamsburg. They had a ton of doors over the summer, claimed they were getting out of the door business and would sell their stock to some other guy in Brooklyn who specializes in doors Sept. 1.

And then tell me how the installation goes, because I anticipate having to do the same thing soon! Thanks!

Posted by: mopar at October 23, 2008 1:59 PM in response to Panel Door Sources?

bkny: Also very interesting.

Posted by: mopar at October 23, 2008 1:36 PM in response to House of the Day: 532 3rd Street

General Greene was the most disgusting restaurant I have ever been to, and also overpriced. Two of the four dishes I ordered at General Greene were inedible. The steak tasted spoiled. I will never go back. We would have left hungry even if we had eaten everything, and I forget how much the bill was but it was over $70 for two people and we ordered only one drink and it was a nonalcoholic one. Radegast is just incredibly obnoxious. And I usually like everything.

Posted by: mopar at October 23, 2008 1:22 PM in response to AMNY Does Best of NY

Ew, recessed lighting and fireplaces no longer in what was once the middle of the room. Why would anyone buy one of these condos when they could buy a whole house for the same price?

Posted by: mopar at October 23, 2008 1:11 PM in response to Condos of the Day: 473 Clinton Avenue

Saw two horrifying buildings tonight.

Posted by: mopar at October 22, 2008 11:27 PM in response to Curious about Bed-Stuy

Thanks, ribant4.

Posted by: mopar at October 22, 2008 11:16 PM in response to Landlord credit/reference check

What, this would be the most fabulous television/video/YouTube/whatever ever. Combining economic analysis and, um, graphic illustration of the downside would be ground breaking. I guess entertainment co-optation knows no bounds. I agree with quite a bit of what you say and think you have valuable insight. But me and my boyfriend (I am a woman) will be far away. We just want to watch.

Posted by: mopar at October 22, 2008 10:58 PM in response to Why I can't post...

Hey Jimmy! Well, we're off to see, like, the 40th two-family since July tonight. Let's hope there's something left of itl. The vinyl siding seems to have cornered the market. They were humble but cute when they were first built, would love to find one intact with original fireplaces, moldings, cupboards, footed bathtub, etc. Love those brownstones too, but they might be a little too much house for us. Anyway, we really do like Bushwick. Nice people, and believe it or not the food options are better than in my old neighborhood Jackson Heights.

Posted by: mopar at October 22, 2008 5:48 PM in response to Curious about Bed-Stuy

I'm with the What. Leave those nice old unrenovated brownstones alone!

Posted by: mopar at October 22, 2008 5:19 PM in response to UNRENOVATED BROWNSTONES!?

Good one, Cobblehiller. Last time I spoke to my mortgage broker, she said they're avoiding Countrywide and IndyMac -- imagine.

Posted by: mopar at October 22, 2008 5:04 PM in response to 30 year jumbo

Hi Mar!

Posted by: mopar at October 22, 2008 4:56 PM in response to Still in search of a cast-iron tub

Tacky, tacky, tacky!

Posted by: mopar at October 22, 2008 12:04 PM in response to House of the Day: 22 Remsen Street

OK, the bracketed cornice doesn't quite match the 1940s-style modernist windows, but still, this is a FABULOUS improvement over, say, a Fedders building. My god, could every new building please be this fabulous? Please????? Oh, developers, please be listening.

Posted by: mopar at October 22, 2008 11:51 AM in response to Development Watch: 587 Washington Avenue

What, have you thought of videotaping and posting on YouTube? Probably wouldn't work too good with a mask though. Or maybe you could be scrambled like on 60 Minutes. Or just wear dark glasses.

Posted by: mopar at October 21, 2008 6:14 PM in response to Why I can't post...

If I'm not mistaken, crime in Bushwick has decreased dramatically in recent years. But I would love to hear more -- Jimmy Legs?

Posted by: mopar at October 21, 2008 6:02 PM in response to Curious about Bed-Stuy

apartmenttherapy.com also domino mag's site has some helpful ideas sometimes

Posted by: mopar at October 21, 2008 5:51 PM in response to A Daily Candy type site for homeowners?

Also, are there liability issues relating to renting to tenants who may be here illegally? Are landlords supposed to check that or is it none of their business?

Posted by: mopar at October 21, 2008 12:04 PM in response to Landlord credit/reference check

Slopefarm, interesting post. What do you conclude from the behavior you describe? Is it a positive or a negative if the prospective tenant notices faults, carefully inspects to see if the space works for them, and discusses out loud or whispers?

Posted by: mopar at October 21, 2008 11:58 AM in response to Landlord credit/reference check

Our T-Mobile and Sprint cell phone reception doesn't work at all when the computer is on and it works just fine when the computer is off. We have Cablevision on the computer modem, cable TV, and a cable phone. No wireless network yet. How's that for weird?

Posted by: mopar at October 21, 2008 11:37 AM in response to Mobile Phone Reception in PS Brownstones

Maybe The What should have his own public access TV show. Blow Cramer and Alexyss Tylor out of the water.

Posted by: mopar at October 21, 2008 11:28 AM in response to Why I can't post...

I quite enjoy hearing the What's point of view. Also, what other blog in the world except Brownstoner addresses my three obsessions: The economy, real estate, and preserving and restoring old houses. Crazy.

Posted by: mopar at October 21, 2008 11:26 AM in response to Why I can't post...

Thanks, all. Yes, MLS does mean that the listing agent will split the fee. But NYC is a little weird -- as Tanner points out, it's not usual for buyers to have their own dedicated agent, and there are a million little brokers with exclusive listings, just as in Queens. I was wondering if it was a problem, or maybe I come without a broker even on an MLS listing, I'll look more attractive to the agent and they'll steer the sale to us, all other things being equal.

Posted by: mopar at October 21, 2008 11:11 AM in response to Buyer's agent in Brooklyn?

Montrose Morris, I'm with you on the original built in, wall hung sink, table, pantry. Boy is it hard to find a kitchen that has it. I also love teens and 1920s cupboards that go all the way up to the ceiling.

Posted by: mopar at October 21, 2008 11:01 AM in response to House of the Day: 617 8th Avenue

In any case, sounds like maybe Bed-Stuy is safer than Bushwick. (Sorry for the multiple postings.)

Posted by: mopar at October 20, 2008 6:12 PM in response to Curious about Bed-Stuy

Denton -- don't worry, we only have guests in the winter. :)

Posted by: mopar at October 20, 2008 6:00 PM in response to i'm so sick of these roaches

I realize the same thing happens on the Lower East Side...but not in Jackson Heights or Carroll Gardens. I'm not talking about run of the mill muggings for ipods or whatever. I'm talking about vicious assaults that could potentially impair somebody for the rest of their lives. It's very sad and not limited to skinny white hipster boys. Two were cooks, one African American. Don't know the details about the others.

Posted by: mopar at October 20, 2008 5:50 PM in response to Curious about Bed-Stuy

Oh I see. Well, dunno. You want something that won't leak. Have you asked your neighbors who they have used, if they have similar windows? Cute house by the way. In any case, can't hurt to call Mr Handyman and ask if they handle work like that.

Posted by: mopar at October 20, 2008 5:36 PM in response to Handyman Recommendation – Brooklyn/Queens?

Thanks for the post, love the style of these bookcases.

Posted by: mopar at October 20, 2008 4:35 PM in response to we found a great carpenter!

Yes, I used to live in Queens, and Mr. Handyman of Queens is seriously great for small jobs like fixing broken drawers, installing enormous window shades in windows with hollow plaster surrounds, fixing toilets that flush too hard or too soft, getting doors to shut properly, etc. I would think your job is one for a roofer, however, not a handyman.

Posted by: mopar at October 20, 2008 4:32 PM in response to Handyman Recommendation – Brooklyn/Queens?

Thank you so much, everybody, Wasder, cmontgom, vanburenproud, this is very informative. Hey Jimmy Legs, I think we met at Jeremy's BBQ (I'm Steve's girlfriend, he was on the Bushwick tour this weekend).

Putnamdenizen, I actually love Bushwick but the condition of the two-families is shocking and I'm starting to get a little rattled. Most of them have had every architectural feature stripped off, including the original interior walls and doors, and replaced with a crazy quilt maze of badly installed and flimsy drywall. They are also full to bursting with two to four people sharing every room.

As for safety, I have heard many stories (just one on BushwickBK this morning, in fact) about men sneaking up on other men and smashing their head in the pavement or with a baseball bat in Bushwick. (Apparently they don't attack women?) I thought it was bad enough being robbed at gunpoint in SF. Does this go on in Bed-Stuy as well? Or is it a special feature of Bushwick, ha ha? In Bushwick, as far as I can tell, this occurs only in certain areas, not every block, of course. (Our own little corner near Ridgewood seems pretty quiet.)

Montrose Morris, I'm going to try to go to the Crown Heights historic tour this Saturday. Maybe I'll see you there. :)

http://www.bcue.org/

Posted by: mopar at October 20, 2008 4:13 PM in response to Curious about B