Staircase going down

Looking good folks.

Posted by: sebb at November 19, 2008 11:27 AM in response to Last Week's Biggest Sales

Prices in Blue chip nabes are not going to go very far down. Townhomes in BoCoCa ,Bklyn Heights , Park slope and the other good nabes are not going anywhere. Nobody took out sub prime loans in those areas. They will continue to hold there value.

Posted by: sebb at November 18, 2008 4:35 PM in response to Quote of the Day

Brooklyn Is hot. The "What" is not.

Posted by: sebb at November 17, 2008 11:33 AM in response to Brooklyn Is the New Hollywood

How is crime up ?
Mr.B do you just make up your own stats?
murders are up 5% wow.
Rapes are up 1.1% wow
Robbery up 1% wow
Felony assault down -8%
Burglary down -6.8%
Gr.Larceny down -2.3%
G.L.A down -4.5%

Total crime down -3.46%

Posted by: sebb at November 17, 2008 11:30 AM in response to HOD Re-Opens for Business

Good sign
Chelsea mortgage 110 percent of sale price

Chelsea Stratus
By Adam Pincus

Despite a cooling Manhattan condominium market in which banks have tightened lending requirements, the mortgage for a three-bedroom penthouse apartment in the new Chelsea Stratus was written at a value nearly $500,000 greater than the $4.508 million sale price for the unit.

JPMorgan Chase wrote the $5 million mortgage for PH3C, a 2,263-square-foot apartment, to the Greenwich, CT-based buyer, Chelsea Vista Holdings, according to property records posted yesterday. The sale and loan documents were signed October 24, the records show.

Condo loans in New York City that were frequently written at 90 percent or more loan-to-value rate earlier this year have, for the most part, dropped to about 80 percent, mortgage brokers said.

Chelsea Stratus, a 40-story tower at 101 West 24th Street at Seventh Avenue developed by LCOR, opened in mid-May.

JPMorgan did not immediately respond to a request for comment. The buyer's attorney also did not respond to a request for comment.

Mortgage broker Thomas Wiggin, president of Manhattan-based Thomas Funding Group, said it was unusual for a loan to be written for more than the sale price, but it was not unheard of. He was not involved in the sale and his only knowledge of the transaction was through public documents.

He said there were several ways the borrower could obtain such a sizable loan. The buyer could propose to use the money as a construction loan to remodel or build out the unit which would increase the value of the apartment, or he could put up substantial capital or other assets such as real estate as collateral.

"It is not typical for your average borrower, however it is not unheard of, especially for something in that price range," he said. "For individuals who have sufficient credit, assets or income, financing is still readily available."

The LCOR development is nearly sold out, with 199 out of 204 condo units under contract, and nearly all of those have closed, said building sales agent Andrew Anderson, senior vice president at Prudential Douglas Elliman, the exclusive marketing and sales broker on the project

Posted by: sebb at November 13, 2008 3:51 PM in response to House of the Day: 356 President Street

BBZZZZZ! Wrong. People are getting laid off in droves! Most of the newly transplanted Asshats are going back to flyover land. Maybe they can start doing something productive again like helping with the harvest.

People are not going anywhere "what" . Yes some people will leave of course. But most people will stay . If you think the financial world looks Bad in NYC how do you think the job outlook is in South Carolina?

We must realize prices will dip slightly but overall we will always be a first rate City and that will keep us strong.

Posted by: sebb at November 12, 2008 2:20 PM in response to Has the Buyers' Market Come to Brooklyn? Duh.

Looks good from here "what".

5 real estate markets most likely to rebound
Seattle tops the list of best places to invest in commercial property
The financial meltdown creates a domino effect in New York. Office vacancies rise, investment workers don't get bonuses and skimp on Christmas gifts, hurting retail. But New York is a one-of-a-kind market that is expected to stay strong. Falling rents could even make the city more livable.
View related photos
iStock

More from Forbes.com

• Top-Earning Dead Celebrities
• Is Your Office Making You Sick?
• Superpowers Of The Super-Athletes
• The Gatekeepers That Stand Between You and Success
• Fastest-Growing White-Collar Paychecks

Most popular
• Most viewed • Top rated • Most e-mailed

Paulson: Troubled assets will not be purchased
McCain says Palin didn't hurt presidential bid
2,900-year-old Phoenician remains found
Police: Iraqi soldier kills two U.S. troops
Makeover! ‘What happened to grandma?’
Most viewed on msnbc.com
Oldest WWI survivor remembers forgotten ones
Pilot lands safely after going blind in mid-air
Souped-up immune cells catch disguised HIV
Astronauts head for extreme space makeover
A running friendship saves the life of one pal
Most viewed on msnbc.com
Paulson: Troubled assets will not be purchased
2,900-year-old Phoenician remains found
Soap up! The 12 germiest places in your life
Big purse saves college student from bullet
Oil slips below $57 on global growth pessimism
Most viewed on msnbc.com

Latest interest rates
Mortgage Home Equity Savings Auto Credit Cards

See today's average mortgage rates across the country.Loan type Today +/- Last week
30-year fixed 6.06% 6.22%
15-year fixed 5.76% 5.93%
30-year fixed jumbo 7.50% 7.57%
5/1 ARM 5.93% 6.02%
7/1 ARM 6.16% 6.24%
Source: Bankrate.com | View rates in your area

See today's average home equity rates across the country.Loan type Today +/- Last week
$30K HELOC 4.88% 5.01%
$30K home equity loan 8.12% 8.09%
$75K home equity loan 7.99% 7.93%
$50K home equity loan 8.00% 7.94%
$50K HELOC 4.70% 4.75%
Source: Bankrate.com | View rates in your area

See today's savings rates across the country.Savings type Today +/- Last week
Money market 2.42% 2.44%
$10K money market 2.67% 2.79%
Six-month CD 3.00% 3.03%
One-year CD 3.48% 3.55%
Five-year CD 3.86% 3.89%
Source: Bankrate.com | View rates in your area

See today's average auto rates across the country.Loan type Today +/- Last week
48-month new car loan 6.58% 6.60%
36-month used car loan 7.15% 7.20%
36-month new car loan 6.82% 6.84%
60-month new car loan 6.59% 6.62%
72-month new car loan 6.44% 6.44%
Source: Bankrate.com | View rates in your area

See today's average credit card rates across the country.Card type Fixed Variable
Standard 13.42% 11.61%
Gold 11.73% 10.29%
Platinum 10.77% 11.48%
All 12.00% 11.30%
Source: Bankrate.com | View more rates

By Dorothy Pomerantz

updated 7:09 a.m. ET, Tues., Nov. 11, 2008
If you're a homeowner seeing property values plummet, look to the commercial real estate market for solace. It might tell you which areas will recover fastest — and which will likely remain weak.

The Urban Land Institute recently asked 700 real estate professionals to name the best (and worst) places to invest in commercial real estate in the coming year. Those surveyed included private developers, Realtors and Real Estate Investment Trust executives. Their answers also apply to the residential market, since the single-family-home sector typically follows the economy. As wages go up and there are more jobs, more people can buy homes, pushing prices up.

The best cities in which to invest are those that are considered gateways to international investment, have vital downtowns where people can forgo cars, and don't have a glut of condos or office space.

Story continues below ↓
--------------------------------------------------------------------------------
advertisement | your ad here

--------------------------------------------------------------------------------

These traits landed Seattle the No. 1 spot on the list. No city scored above a 6.15 on a scale of one to nine (one being an abysmal place to invest and nine being excellent).

More on this story
Slide show: Best and worst places for real estate investors

Seattle is "a diversified market, has a good base of business and is becoming a 24-hour city," says Stephen Blank, senior resident fellow, finance, of the Urban Land Institute. "It's going to be in a good position to come back."

Although the city is suffering from the loss of Washington Mutual and the downsizing of Starbucks, Boeing and Microsoft are still relatively strong. Apartment vacancies are low and there aren't too many new buildings going up, meaning the market won't be oversupplied. The same is true in the retail space.

San Francisco comes in second with a 6.12. The City by the Bay learned from the tech crash of 2001 not to overbuild. There is a reasonable supply of office and apartment space, which should limit vacancies. San Francisco's port is also expected to help the city during the downturn as Americans continue to rely on Asian imports.

Washington, D.C., New York and Los Angeles round out the top five.

Of course, there's no guarantee that an improved commercial market will lead to an improved home market. However, investors have a better chance of seeing home prices rise in fundamentally strong markets like Seattle than in struggling cities like Detroit.

More from Forbes.com
Click links below for slide shows
America’s next foreclosure capitals
How to squeeze more money from your home
Best and worst places for real estate investors
Video: Million-dollar foreclosures
Cities where your nest egg goes farthest

It landed at the bottom of the list, scoring a 2.24. Detroit has been reliant on the car industry, which is rapidly shrinking. Other businesses are unlikely to fill the void in the next few years, which means the city will be hit hard by further economic struggles.

New Orleans also lands near the bottom with a score of 3.33. The city has been losing businesses to Houston, Dallas and Atlanta since Hurricane Katrina hit in 2005.

The other cities at the bottom of the list — Columbus, Ohio, Milwaukee, Wis., and Cleveland — suffer from dying industries and lack of tourist appeal.

Recent attempts to turn downtown Milwaukee into a thriving 24-hour city haven't been enough to

Posted by: sebb at November 12, 2008 1:02 PM in response to Has the Buyers' Market Come to Brooklyn? Duh.

Guys what i am trying to say is this. You can turn that CG place into 4 units that could easily fetch 1.5 mill each according to the comps. You could walk away with plenty after renovations. It is being done all over the city. You have to think this thru and understand the way it works. I am not going to sit here and walk you thru but if you do some homework you would understand better.

Posted by: sebb at November 7, 2008 3:19 PM in response to Open House Picks

I do not understand what you folks are saying about CG listing. The house is on one of the best blocks in NYC and the house is a great condo move. So what is wrong with that? I guess you guys never invested a dime in Real estate

Posted by: sebb at November 7, 2008 2:00 PM in response to Open House Picks

I would make sure your addition can't be seen from the street set it back. I am warning you now it will greatly affect your selling price. Look at 3rd place it is a nightmare. You need to get an architect.

Posted by: sebb at November 5, 2008 11:58 PM in response to looking to add another floor.....

This is more poitive news for NYC real estate:

More U.S. Homeowners Have Mortgage Higher Than House Is Worth

By Dan Levy

Oct. 31 (Bloomberg) -- Almost 20 percent of U.S. mortgage borrowers owed more on their loans in the third quarter than their house was worth as foreclosures depressed prices and the economy weakened, according to First American CoreLogic.

More than 7.5 million properties already have negative equity and another 2.1 million will follow should home prices decline another 5 percent, Santa Ana, California-based First American, a seller of economic and real estate data, said in a report today. Six states account for almost 60 percent of homes with negative equity, led by Nevada and Michigan.

``As long as job losses continue and people face resets on their mortgages, the housing market will be under severe distress,'' Sam Khater, a senior economist at First American in Tysons Corner, Virginia, said in an interview. ``We've created an entire class of homeowner that is very sensitive to price changes.''

Home prices fell in August in all 20 metropolitan areas measured by the S&P/Case-Shiller home-price index, which dropped 16.6 percent from a year earlier and has fallen every month since January 2007. U.S. foreclosure filings rose to a record in the third quarter, and will probably increase as the economy worsens and the availability of financing shrinks, RealtyTrac Inc., a seller of default data, reported on Oct. 22.

The number of houses with loans higher than the property's value may increase to almost 25 percent should prices keep falling, First American said.

Economy Weakens

The economy suffered its biggest decline since 2001 in the third quarter, ushering in what may be the worst recession in a quarter-century. Polls show that economic turmoil is boosting the chances of presidential candidate Senator Barack Obama of Illinois and fellow Democrats in next week's elections.

Gross domestic product contracted at a 0.3 percent pace from July to September, according to a Commerce Department report yesterday in Washington. The decline was smaller than forecast. Even so, the economy may be in for a larger drop this quarter as the record two-decade expansion in consumer spending came to an end.

The weak economy has hurt Republican candidate Senator John McCain of Arizona, who fell further behind Obama as the financial crisis intensified. A Bloomberg/Los Angeles Times survey taken Aug. 15-18 showed McCain leading with 42 percent to Obama's 41 percent; five weeks later, the poll showed Obama ahead by 49 percent to 45 percent.

First American's home-price index, compiled from public property records that go back 30 years, showed a national drop of 11.2 percent in August from a year earlier. The rate of decline may increase to 12 percent by year end, Khater said.

Rescue Plan

A $500 billion plan under consideration by the U.S. Treasury and the Federal Deposit Insurance Corp. may help as many as 3 million homeowners in danger of default refinance their mortgages into affordable loans, people familiar with the matter said yesterday.

FDIC Chairman Sheila Bair acknowledged this week that ``a framework'' for modifications was being discussed.

The states with the highest shares of homes with negative equity either had rapid appreciation in prices, manufacturing declines or a higher proportions of subprime loans, according to First American.

Nevada had the highest share at 48 percent, followed by Michigan at 39 percent, Florida and Arizona each at 29 percent, California at 27 percent, Georgia at 23 percent and Ohio at 22 percent, First American said.

New York had the lowest share of homes with negative equity at 7 percent, followed by Hawaii at 8 percent, Pennsylvania at 9 percent and Montana at 10 percent, according to the report.

The negative equity report was compiled from 41.7 million first and second mortgages and covers single-family homes, cooperatives, condominiums, town homes and multiunit attached properties up to four units, Khater said.

http://www.bloomberg.com/apps/news?pid=20601206&sid=aYyk2_TLjGao&refer=realestate

Posted by: sebb at October 31, 2008 5:18 PM in response to Sheepshead Bay: Fifth Most Luxurious Neighborhood

Return of The What : If you think it is bad in NYC try going to California or vegas or just about any other place in Amercia They are ghost towns.
This is and will always be the Best city in America.

Posted by: sebb at October 31, 2008 10:37 AM in response to City Will Buy Foreclosed Homes

This is great news for NYC we don't even have a foreclosure problem.
We have no problem in Nyc we will come out of this downturn stronger.

Nevada, Michigan, Florida lead 'underwater' list

Photos By ALAN ZIBEL
AP Real Estate Writer
Here's a shocker: almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth.

Here's another: If you add in the homeowners like them in California, Arizona, Florida, Georgia and Michigan, together they account for nearly 60 percent of all homeowners who are "underwater" on their mortgages.

Nationwide, almost one out of every five homeowners with a mortgage owes more to their lender than their properties are worth. But if you subtract those states, the rate drops to about one in 10, according to a report released Friday by First American CoreLogic.

The new data underscore the staggering scope of the U.S. housing recession, but also the challenges that government officials face in designing a massive new program to help homeowners avoid foreclosure, with layoffs soaring and the economy sinking.

Some experts predict the problem will get much worse.

Nationally, home prices are already down about 20 percent from their peak in mid-2006. By the time the housing market hits bottom, prices may be down 40 percent from the top, leaving 40 percent of homeowners underwater, according to Nouriel Roubini, economics professor at New York University.

"There is a huge incentive to walk away from your mortgage," said Roubini, who has attracted attention for his gloomy - and accurate - predictions of the U.S. financial market meltdown. He gave no forecast for when the real estate market would bottom out.

Another pessimistic analyst, Desmond Lachman of the American Enterprise Institute, said that "unless there's government intervention on a big scale...we're really not going to bottom."

The problem is much worse in far-flung suburban neighborhoods where builders flooded the market with new homes and buyers put down small, or no, down payments, said Mark Fleming, First American CoreLogic's chief economist. In desirable urban neighborhoods and close-in suburbs, "a lot of people bought their homes years ago. It's much more difficult for them to be in a negative equity situation." Fleming said.

Rising mortgage rates are also making matters worse for prospective borrowers. The rate on a 30-year, fixed-rate mortgage averaged 6.46 percent this week, up sharply from 6.04 percent last week, Freddie Mac reported Thursday.

Higher rates coupled with lower home values means fewer people can tap their home equity. The percentage of U.S. homeowners who pulled cash out of their homes remained at a four-year low in the third quarter, Freddie Mac said.

While some underwater borrowers certainly will lose their homes to foreclosure absent a massive - and successful - government refinancing plan, many will continue to make their payments and wait for values to recover. And of course roughly 30 percent of Americans own their homes outright.

Still, it remained unclear whether the government would be able to do much for many borrowers in trouble, especially given the amount of time to start up a new program.

"Certainly it can't hurt," Bernard Baumohl, chief economist at the Economic Outlook Group in New Jersey. "How much it's going to help is an open question."

On Thursday, White House press secretary Dana Perino tried to dispel reports that the Bush administration is near agreement on a plan to help about 3 million homeowners avoid foreclosure. Perino said several different ideas are on the table, and that no announcement is imminent.

The plan, widely expected to be run by the Federal Deposit Insurance Corp., would be the most aggressive effort yet to limit damage from the U.S. housing recession.

Despite all the pessimism, even some bearish analysts see modest signs of encouragement. Home sales have stabilized this fall as bottom-fishing buyers snapped up bargain properties in places like Las Vegas and Southern California. New foreclosures, currently flooding the market, are likely to taper off by the middle of next year, said UBS mortgage securities analyst Thomas Zimmerman.

"There may be some turning points not that far away," Zimmerman said. "The really severe part of this collapse in the housing market may be behind us."

Posted by: sebb at October 31, 2008 9:26 AM in response to City Will Buy Foreclosed Homes

This house is very pretty.

Posted by: sebb at October 30, 2008 3:20 PM in response to House of the Day: 400 Dean Street

Good move

Posted by: sebb at October 29, 2008 11:16 AM in response to Where is Wasder?

Miss Muffett : Let me know when you call the bottom this way I can add up how much you lost by not buying.

Posted by: sebb at October 27, 2008 1:52 PM in response to The Housing Crisis Has Arrived

Miss Muffett : I guess nobody has money to buy right?

Broken Securities Industry Still Has $20 Billion to Pay Bonuses

By Christine Harper and Serena Saitto

Oct. 27 (Bloomberg) -- Five straight quarters of losses and a 70 percent slide in its stock this year haven't stopped Merrill Lynch & Co. from allocating about $6.7 billion to pay bonuses.

Goldman Sachs Group Inc. and Morgan Stanley, both still on track for profitable years, have set aside about $13 billion for bonuses after three quarters, down 28 percent from a year ago. Even some employees at Lehman Brothers Holdings Inc., which declared the biggest bankruptcy in U.S. history last month, will get the same bonus they received a year ago.

The worst financial crisis since the Great Depression, a $700 billion taxpayer bailout, public outcry over excessive pay and the demise of three of the biggest securities firms won't deter Wall Street from offering year-end rewards to employees on top of their salaries, compensation experts say.

``Critical producers and critical managers will be retained with the same bonus they had last year,'' said Robert Sloan, head of U.S. financial-services recruiting at Egon Zehnder International, a New York-based executive-search firm. ``The others will see sharp cuts.''

Goldman, the biggest and most profitable Wall Street firm until it opted to become a bank holding company last month, has set aside about $6.85 billion for bonuses, or an average of $210,300 for each employee, down 32 percent from $339,400 a year ago. Morgan Stanley, the second-biggest securities firm until it also converted to a bank, has $6.44 billion for bonuses, or $138,700 per person, down 20 percent from last year. Both firms accrue a fixed percentage of their revenue for compensation, so the decline in bonus pools matches the drop in revenue.

Merrill's Compensation

The money Merrill has set aside for bonuses equates to an average $110,000 for each of its 60,900 people, up from $108,000 a year ago because more than 3,000 jobs have been cut.

The bonus figures are based on estimates that about 60 percent of the compensation and benefits expenses reported by the companies will be paid in year-end bonuses, as occurred in past years. Average bonuses aren't an indication of how much any employee will receive, since payments range widely from assistants to top traders. Bonuses aren't paid until the end of the fiscal year, so firms could choose to reallocate the funds.

``We are in the process of determining appropriate levels of year-end compensation, and no decisions have been made,'' said Mark Lake, a spokesman at Morgan Stanley. Ed Canaday, a spokesman for Goldman in New York, declined to comment.

Merrill spokeswoman Jessica Oppenheim said the firm's accrued bonuses aren't down as much as those at Goldman and Morgan Stanley because the firm reduced expenses last year, when it also had a loss. Compensation costs are down 18 percent this year, compared with the first nine months of 2006, Merrill's last profitable year.

`Moratorium on Bonuses'

A worldwide economic slowdown, caused in part by the financial industry's losses, and a U.S. Treasury plan to spend $250 billion of taxpayer money buying stakes in banks, have made pay a political issue this year.

``There should be a moratorium on bonuses,'' Barney Frank, chairman of the House Financial Services Committee, told reporters last week. ``If nobody gave them, there wouldn't be a competitive aspect.''

In Zurich, protesters blocked UBS AG's private-banking branch on Paradeplatz last week to seek curbs on executive pay after Switzerland's largest bank was forced to ask for government aid.

$145 Billion

``I'm just flabbergasted that the financial community has failed to show any sense of leadership on this issue and doesn't seem to understand how angry people are at them,'' said Nell Minow, editor of Corporate Library, a Portland, Maine-based corporate-governance research firm. ``They are just a bonus away from having the villagers come after them with torches.''

New York-based Goldman, Morgan Stanley, Merrill, Lehman and Bear Stearns Cos. awarded their employees a cumulative $145 billion in bonuses from 2003 through 2007, according to estimates based on company reports. That's more than the annual gross domestic product of the Philippines. Last year the firms paid out a record $39 billion.

At the end of this year, companies may decide against paying the money accrued for bonuses and instead use part of it to cover severance costs, said Rose Marie Orens, a New York-based partner at Mercer, the human resources consulting unit of Marsh & McLennan Cos., who specializes in executive compensation for financial- service companies. Goldman and Morgan Stanley end their fiscal year in November, and Merrill's ends in December.

Lehman Bankruptcy

``Whether what you see is what they're going to pay, you can't tell yet,'' she said. ``It's highly unlikely they'll add to those numbers and more likely they'll bring them down.''

Lehman filed for bankruptcy on Sept. 15. Merrill Lynch and Bear Stearns were rescued in emergency sales to Charlotte, North Carolina-based Bank of America and JPMorgan Chase & Co. in New York. Goldman and Morgan Stanley are each receiving $10 billion of capital from the government.

Bank of America is offering Merrill's U.S. brokers bonuses of as much as 100 percent of the revenue they generate to keep them after the deal is complete, people briefed on the plan said last week. Scott Silvestri, a spokesman for Bank of America, declined to comment.

Employees at Lehman Brothers in Europe have been promised by their new owner, Nomura Holdings Inc., that they will receive the same bonus as last year, according to two people familiar with the situation. A Nomura spokesman declined to comment.

Earnings Slump

Share prices and profits have dropped more than bonuses so far. Goldman's profit has fallen 47 percent this year, and the stock is down 53 percent. Morgan Stanley's earnings have tumbled 41 percent, and the shares have shed 69 percent of their value.

``Performances have certainly not been what investors would expect,'' said Daniel Moynihan, a principal at Compensation

Posted by: sebb at October 27, 2008 1:24 PM in response to The Housing Crisis Has Arrived

SnarkSlope: You are a CLOWN. Keep losing buddy.

Posted by: sebb at October 23, 2008 2:14 PM in response to Condos of the Day: 473 Clinton Avenue

BH76 : You want 40% off . Move to Vegas not here not now.

Posted by: sebb at October 23, 2008 1:38 PM in response to Condos of the Day: 473 Clinton Avenue

Whole foods owns the land. They are not going to walk away from this property. We are not talking about some rinky dink company here. They will get it done.

Posted by: sebb at October 23, 2008 11:45 AM in response to Whole Foods Can't Do It Alone (In Gowanus)

DOW8000SP800 : the dow is at 9200 and going higher I guess you have to change your name.

Posted by: sebb at October 21, 2008 2:35 PM in response to Last Week's Biggest Sales

11217: how am I wrong on this one? The place in PS went for more than asking enough said. How can Miss Muffett say otherwise. Ohh I guess she knows everyone. Grow Up already. You are losing money everyday you sit on this blog waiting and waiting for prices to drop.

Posted by: sebb at October 21, 2008 1:17 PM in response to Last Week's Biggest Sales

Miss Muffett: You are always trying to spin a higher sale price into a construed thought. Stop it prices are doing well just admit it already. Admit it !

Posted by: sebb at October 21, 2008 12:29 PM in response to Last Week's Biggest Sales

FatLenny: Dow 8500 again wow I can't wait .
lechacal : Not to act like a big shot but yes i do have the capital to Buy . Maybe you are the one who is scared because you don't have a dime to invest in Nyc Real estate if you did you would know it is as solid as the bedrock it sits on. Unless that is you would rather put your money into a property in the swamps of Mississippi ?

Posted by: sebb at October 17, 2008 3:12 PM in response to Another Third Quarter Market Report

lechacal: As you sit here and try to tell everyone that you believe the housing market will fail i will continue to put my money into the stock market and continue to buy homes in NYC and watch you cry in a few years as values take off. Good luck with your negative forecast. Try eating some Oatmeal and have a Glass of Wine you might live a little Longer.

Posted by: sebb at October 17, 2008 1:30 PM in response to Another Third Quarter Market Report

Boerum Hill that is a great point when my sister bought a few years back her closing costs were well over 50k.

Posted by: sebb at October 17, 2008 11:41 AM in response to Another Third Quarter Market Report

dittoburg: I do not have it in for Miss Muffett. I am just trying to point to a few facts. As Miss Muffett runs around telling everyone on this board not to buy because the sky is falling she forgets a few things. Miss Muffett you have been on the sidelines for how long? The market has increased how much since you have been out? How much would the market have to go down for you to benefit and come out ahead? Everyday Miss Muffett sits on the sidelines and trys to convince others to wait to buy they loose and here is a short list why
1.Income if buying a Multi family
2.Tax breaks Mortgage and property tax
3.Long term wealth
4.Amortization reduction
5.Chance to borrow against the home
6.Becoming part of a neighborhood
People do not listen to her and stop throwning your money away

Posted by: sebb at October 17, 2008 10:30 AM in response to Another Third Quarter Market Report

This is great news. Lower starts means tighter inventory. I can't see how this is a bad thing for prices. Maybe a bad thing for builders sorry Centex.

Posted by: sebb at October 17, 2008 10:14 AM in response to Housing Starts Plummet

Missmufett and 11217 what are you yapping about today? Nada

I hope you have a nice breakfast while reading this report.

Posted by: sebb at October 17, 2008 9:10 AM in response to Another Third Quarter Market Report

But where is Missmufett and 11217 ? LOL

Posted by: sebb at October 16, 2008 3:07 PM in response to Elliman 3Q Report: Mixed Results

Inventory tight mean values stay.

Posted by: sebb at October 16, 2008 1:05 PM in response to Elliman 3Q Report: Mixed Results

The overall sentiment has been very negative on this site lately. In particular 11217 and Mr. B.
BTW I doubt you own a home 11217.

Posted by: sebb at October 15, 2008 12:42 PM in response to Wednesday Food & Drink Round-Up

My head is in the sand? Everyday you people rent you throw more and more money down the drain. Guess what it's almost Tax season you getting a write off? No NO NO, all you are getting is a wish that prices will drop so you can buy. Ask Santa maybe he will bring you a gift if your a good Girl. :)

Posted by: sebb at October 14, 2008 3:53 PM in response to Last Week's Biggest Sales: Closing Time at One BBP

11217 the reason that people think I am crazy is because the site has changed from a bunch of Bull owners except for one idiot named What to a total Bear renters site. So if that is the way MR.B want it then fine. BTW keep dreaming the market will collapse.

Posted by: sebb at October 14, 2008 2:51 PM in response to Last Week's Biggest Sales: Closing Time at One BBP

Great news for Brooklyn

Posted by: sebb at October 14, 2008 2:48 PM in response to Streetlevel: We the Free on Smith Street

11217 Point is this don't call me a Broker and I wont call you things that might upset you. You should keep waiting this real estate thing out. I know what NYC is about let's see if you do.
DOW8000SP800 :You really need to look at what the Feds did today and have been doing if you think they will let the economy fail you are mistaken this is the USA not Argentina.

Posted by: sebb at October 14, 2008 1:39 PM in response to Last Week's Biggest Sales: Closing Time at One BBP

I am no way some scum broker or Agent I am just telling you like it is. Tell me When I am wrong and I will admit it. But please do not acuse me of being a low life Broker. I would rather be a Used car salesman. Naaa scratch that.

Posted by: sebb at October 14, 2008 12:47 PM in response to Last Week's Biggest Sales: Closing Time at One BBP

I was just thinking 6000 is just one development in some Florida communities. NYC housing market tanking yea right.

Posted by: sebb at October 14, 2008 12:35 PM in response to Last Week's Biggest Sales: Closing Time at One BBP

Dave Manhattan also has a tight supply of brownstone townhouses, only 6000

Posted by: sebb at October 14, 2008 12:33 PM in response to Last Week's Biggest Sales: Closing Time at One BBP

11217: 1976? they bought the place last year. Ask yourself this question. If you were a seller right now where would you move to? that is the question there are not many places to move to. NYC will do just fine.

Posted by: sebb at October 14, 2008 12:20 PM in response to Last Week's Biggest Sales: Closing Time at One BBP

I agree with Dave. Also what people are not understanding is that Inventory remains tight. That is the big factor here. It does not matter what these people ask for the homes . Then you see the closing goes for a few hundred thousand less and everyone on this board thinks the market is tanking not at all. My point is look at the price the guy paid and what he sold for that shows me prices have gone up. Not down .

Posted by: sebb at October 14, 2008 12:01 PM in response to Last Week's Biggest Sales: Closing Time at One BBP

Why would she lose money. What everyone fails to understand is most people in NYC did not take out APR loans with 1% balloon rates. This is not Vegas. We will see a full recovery in Spring of 2009. You think prices will go down they might inch down a bit but guess what as Inflation kicks in next year it will bring prices back up again.

Posted by: sebb at October 14, 2008 10:41 AM in response to Mary Stuart Masterson Unloads State Street Abode

Miss Muffett: I must bring these posts up because when they show up none of the nay sayers come on to discuss.

Posted by: sebb at October 13, 2008 1:57 PM in response to Dead Cat Bounce or the Bottom?

fsrg : Maybe you guys missed these? or maybe you are taking to much Vicodin . SOUTH SLOPE $850,000
497 12th Street
Prewar two-bedroom, 1½-bath duplex, 1,055 square feet, with 300-square-foot outdoor space, tin ceilings, new kitchen with dishwasher and renovated bath with claw-foot tub. Common charges $340, taxes $183. Asking price $819,000, on market three months. Brokers: Kristina Leonetti and Jessica Buchman, The Corcoran Group

Despite the meltdown on Wall Street, inventory decreased in Brooklyn last week and prices went up. According to home listing Web site Trulia.com, the average listing price for a Brooklyn home rose 1.4 percent to $701,779, from $691,857, between September 24 and October 1. Listings decreased during that time to 4,625 from 4,725.

Posted by: sebb at October 13, 2008 12:59 PM in response to Dead Cat Bounce or the Bottom?

I show you homes going for more than asking you refuse to believe it.

Posted by: sebb at October 13, 2008 12:11 PM in response to Dead Cat Bounce or the Bottom?

Miss Muffett: Let's get things straight. You are a little bitter. You want prices to drop. Understandable. But you do not want to admit the truth which is, They will not, have not and wont go down more than 10 to 15% overall. Whenever I point this out you refuse to understand it.

Posted by: sebb at October 13, 2008 12:11 PM in response to Dead Cat Bounce or the Bottom?

Miss Muffett: I don't want to twist anything believe me. Maybe you should read this:
Like Old Times (Almost)
Sign In to E-Mail or Save This
Print
Reprints
Share
Linkedin
Digg
Facebook
Mixx
Yahoo! Buzz
Permalink

By JOSH BARBANEL
Published: October 10, 2008
AT a time when you might think the entire Manhattan real estate market had jumped off the Brooklyn Bridge, some buyers and sellers have been engaging in that old-fashioned Manhattan pastime: the bidding war.

Though some brokers say the market remains in a pause while buyers assess the faltering economy, others have been able to close deals in every segment of the market, and even on days when the stock market has been plummeting. After all, people have to live somewhere, don’t they?

On Sept. 29, the day the House of Representatives first took up and rejected a $700 billion economic rescue plan, Randolph D. Lerner, the owner of the Cleveland Browns of the National League Football League, closed on a 1,730-square-foot two-bedroom Greenwich Village co-op at 15 West 11th Street for $4.06 million, according to city property records. That was $100,000 over the asking price, enough for Mr. Lerner to clinch the deal over an art dealer with a competing bid, according to Jan Hashey, a broker at Prudential Douglas Elliman.

The seller was Jason Mutchnick, the television producer who created “Will & Grace.” According to Streeteasy.com, that apartment went into contract in August.

Also on Sept. 29, as the stock market fell by more than 770 points, Sarah Parsons, a broker with the Corcoran Group, waited anxiously, not for the stock ticker, but for a buyer to meet with his lawyer that afternoon and sign a contract for a one-bedroom in a 20-foot-wide brownstone in Park Slope.

The sellers, Kara R. Finck, a lawyer providing legal services to the poor, and her husband, Mark Humowiecki, a special counsel to the Workers’ Compensation Board, had put their 800-square-foot apartment on the market after Labor Day for $535,000, because they needed a larger apartment after the birth of a child.

The apartment, at 55 Montgomery Place, was priced right and had some special features that helped it sell quickly, Ms. Parsons said, including a private rear garden on a quiet town house street, a few doors from Prospect Park.

After two open houses, she said, there were three bids, including two over the asking price. But Ms. Parsons said that “in this environment,” the sellers chose the offer at the asking price, because the buyer, an Internet sports journalist, offered to pay cash (with some help from his family).

“If you have two or three things that are fantastic and unusual, even in this horrible market, there are some things that can sell quickly,” Ms. Parsons said. After the buyer signed, Ms. Finck and her husband made an offer for a larger apartment on the same block; their bid was accepted.

On Tuesday, when the stock market fell more than 500 points, a third-floor walk-up in a town house at 348 East 89th Street went into contract for just over the $499,900 asking price, according to Brian Lewis, a broker at Halstead Property. Mr. Lewis said that the condo needed renovation, and that the seller had agreed to “price it provocatively.”

There were 28 buyers at the first open house and almost as many at a second one, he said, and soon afterward there were two “bona fide offers,” both over the asking price, one from an investor and the other from a person who planned to renovate and live there.

Mr. Lewis said that the seller wanted to choose a buyer based on financial strength and ability to close, rather than price. In the end, the seller chose the individual buyer, after Mr. Lewis was allowed to interview the man’s mortgage broker.

“He is a professional, not in the financial field, with good job longevity,” he said.

Quick deals are not limited to lower-priced properties. A duplex penthouse at 1185 Park Avenue went on the market in mid-September, after the fall of Lehman Brothers, with an asking price of $20 million. It had been the home of Kitty Carlisle Hart, the entertainer and grande dame, who died in April, and Moss Hart, the Broadway playwright.

Brokers said that by the middle of last week, the internal listing at Brown Harris Stevens, which was held by Katherine P. Marshall, showed an “accepted offer” on the property, though a contract had not yet been signed.

“I am getting bids all day long,” said Paula Del Nunzio, a Brown Harris Stevens broker.

Posted by: sebb at October 13, 2008 11:31 AM in response to Dead Cat Bounce or the Bottom?

Miss Muffett : The Morgan stanley deal went thru last night. I find your posts to to be behind the times.

Posted by: sebb at October 13, 2008 11:07 AM in response to Dead Cat Bounce or the Bottom?

NYC = Center of the universe

Posted by: sebb at October 11, 2008 10:59 PM in response to NEW YORK NEW YORK

I don't think i am the only optomistic person. Johnathan miller Yesterday said on bloomberg he see's no declining in the Manhattan real estate market. The only problem he sees Is people getting mortgages and once that is fixed it will be fine. So let's see we might have a bottom in the DOW and S&P indexes and if not we are really close and People will start making a lot of money in the Market once it starts going up and it will. We still have limited inventory In the Housing Market. We are still the safest big city in America. The last time I checked I never heard anyone saying they could not wait to move Oregon, New Jersey, North Dakota , South Dakota, Wisconsin,Idaho,Ohio,Kansas,Montana,North carolina,South Carolina You get the Point. But I have heard many say they want to move to NYC. Tell me I am wrong?

Posted by: sebb at October 10, 2008 5:54 PM in response to Just Sold in Brooklyn

lechacal : where are you?

Posted by: sebb at October 10, 2008 4:34 PM in response to Just Sold in Brooklyn

park slope goes over asking and you people are still trying to bash it.
Miss Muffett you have no clue what's going on.

Posted by: sebb at October 10, 2008 4:14 PM in response to Just Sold in Brooklyn

daveinbedstuy: they are all along 5th ave in Sunset Park. They of course are on the brooklyn bridge. The whole Harbour is filled with them. They have a few scattered in Bay Ridge. Many of the Housing developments have them. There are others but I am not 100% sure of the locations. The Mayor has annouced that 3000 more will be put in place.

Posted by: sebb at October 10, 2008 1:37 PM in response to Dow Status Check

Crime rates will be fine the NYPD has a real good hold on what's going on with Compstat and cameras going around the city everywhere you look.

Posted by: sebb at October 10, 2008 1:19 PM in response to Dow Status Check

Come Clean: where will you go to Idaho? Nebraska? or the mountains and live like a Hermit. Let us know how those hick police handle the crime . This is and always will be the center of the universe good times and bad.

Posted by: sebb at October 10, 2008 11:37 AM in response to Dow Status Check

My Point is you have this CLOWN running around this board telling everyone the sky is falling. He has no (Zero) basis for his comments . He is not taking anything Into his fact finding, Did he realize that Nyc is the Safest Big city in America? Thanks to our Wonderful Police Dept and Police Commish. Then he makes comments that people should wait 1 or 2 years to buy.
So tell me this, I should not buy a 3 or 4 family home, not collect the rents which could be over 100k or 200k a year and sit here and hope the price falls more than 200k? Forget about the tax write off and the fact of renting means i am throwing my money in the garbage.

Posted by: sebb at October 10, 2008 10:57 AM in response to Dow Status Check

lechacal: You are telling people what to do with their money ! Are you for real? You are telling people not buy homes ? You should be banned from this site.

Art dealer buys Yorkville condo for $12M

Art dealer Dominique Levy
By Adam Pincus
Art dealer Dominique Levy and her partner Dorothy Berwin paid $12 million for a six-bedroom, 5,002-square-foot duplex at 170 East End Avenue in Yorkville, city records show. The sale went into contract in May 2007 and closed on September 24, according to city records published today. Levy is a co-director of contemporary art gallery L&M Arts on the Upper East Side, and Berwin is a film producer.

Posted by: sebb at October 10, 2008 10:45 AM in response to Dow Status Check

I think you people especially HOBOKENROCKS suburbian boy who is bored out of his mind in New Jersey that is wishing he could move to NYC are nothing but .

CLOWNS

Posted by: sebb at October 8, 2008 1:11 PM in response to Co-op of the Day: 63 Cranberry Street, Parlor Floor

I agree with this post 100% . Nyc the 22 most expensive place to live on Earth. Never a bad time to buy NYC real estate.

Posted by: sebb at October 7, 2008 4:27 PM in response to Quote of the Day

7andfive : You ask me what does that 32.5 Million dollar Home have to do with brooklyn? Everything Wake up . Do you see homes going for that much over asking in Florida Or anywhere else in America in this market? NO NO NO. Does it mean that people will Look at Brooklyn as a Bargain? YES YES YES> does it mean those that choose not to buy and rent Will loose long term YES YES YES.

Posted by: sebb at October 7, 2008 11:22 AM in response to Front Page Forum: Walk Away from Downpayment?

This is why you don't back out, you never know. The FED is coming to the rescue and will not let this Govt Fail.
Sutton Square mansion sells for $7.5M over asking

Seven Sutton Square
Despite a down market, after being listed at $25 million, Seven Sutton Square sold for $32.5 million on September 23, according to public records posted today. The billing address was given as "care of Wildenstein & Co.," so the buyer is assumed to be art collector Guy Wildenstein. The home was originally two townhouses that were renovated and combined to create a 9,250-square-foot townhouse with five bedrooms, gym, sauna, rooftop garden and 15-foot glass rotunda. There are no mortgages for the property filed in city records, likely meaning it was bought in cash.

Posted by: sebb at October 7, 2008 10:18 AM in response to Front Page Forum: Walk Away from Downpayment?

I would go ahead with the deal. You need a place to live right? Well big deal even if the place goes down 20% from when you buy it. If you hold for 5 years and in a year or 2 prices go up at the rate of inflation usually 4 % a year You will get that 20% back. That is if the prices go down 20%. When everyone thinks the worst that is usually the best time to do the reverse.

Posted by: sebb at October 6, 2008 11:56 PM in response to Break contract or not?

Ok so Miss muffett you are telling me you sold at the height of the market right? You were so smart that the day you sold your home the market never went up again? Hard to believe. So now you hold you CASH in a Savings or a CD and your rate of return is 2% . You believe the Real estate market wont get at least the rate of inflation which is running at around 4%. Plus add in the fact of rentals the tax breaks and the Paying off of your Debt each month guess what MISSY you loose.

Posted by: sebb at October 3, 2008 3:46 PM in response to Open House Picks

Miss Muffett i give you Positive real estate news why would I be angry? Maybe you should be angry because everyday you don't buy you loose.

Posted by: sebb at October 3, 2008 3:17 PM in response to Open House Picks

Here you go nay sayers "Keep renting" Suckers

Don't Cry for Lehman Brothers —"Lehman Brothers Holdings' former chief financial officer, Erin Callan, is in contract to sell her two-bedroom condominium in New York's 15 Central Park West. The sale is set to close this week for $11.8 million, just below the $12 million asking price, a person familiar with the deal said. That would be nearly double the $6.48 million Ms. Callan agreed to pay for the condo about three years ago while the building was under construction." [WSJ]

Posted by: sebb at October 3, 2008 2:18 PM in response to Open House Picks

No chance on any of them wasder . You just don't get it do you nobody is going to sell there home for 600k why would they do that?

Posted by: sebb at October 3, 2008 2:09 PM in response to Open House Picks

Santa u got it.

Posted by: sebb at October 3, 2008 11:57 AM in response to Just Sold in Brooklyn

Santa understand this in good real estate markets or bad prices go down. So wake up

Posted by: sebb at October 3, 2008 11:45 AM in response to Just Sold in Brooklyn

Daveinbedstuy I am tottaly on Board with you, houses go for over asking and none of the naysayers comment. I am really tired of these people. They just don't get it this is not miami.

Posted by: sebb at October 3, 2008 11:27 AM in response to Just Sold in Brooklyn

Prices are not going anywhere.Maybe 10 to 15% down nothing more.

Posted by: sebb at October 3, 2008 10:36 AM in response to Third Quarter Report: Foreclosures Down in Brooklyn

Brokers predict that real estate prices are unlikely to drop as much as they have in other parts of the nation because the market is filled with co-op owners who have more equity in their properties and because there is a limited supply of apartments in New York City.

“You will start to see a softening in prices over the next two quarters, but it’s not going to be dramatic,” said Pamela Liebman, chief executive of the Corcoran Group. “The predictions of a full-scale drop in New York will not happen.”

Posted by: sebb at October 3, 2008 9:51 AM in response to Third Quarter Report: Foreclosures Down in Brooklyn

This is what I am talking about. This is not Miami with 40,000 foreclosures. You People that are screaming that prices will drop big time need to do your Homework.

Posted by: sebb at October 3, 2008 9:22 AM in response to Third Quarter Report: Foreclosures Down in Brooklyn

I would Buy the home unless you are looking to sell in the next yr or 2. The rent will make up any loss of value and i believe that loss will be no more than 10 to 15%. Don't listen to these people the Bailout package is coming on Friday and guess what folks it bails out bad mortgages.

Posted by: sebb at October 2, 2008 12:23 AM in response to Close? Or Walk Away?

lechacal: "You don't know who i am" You sound Like a NUT job. Who are you? The Son of Sam. Get A Hold on your Life.

Posted by: sebb at October 1, 2008 3:54 PM in response to Has the Bubble Finally Burst?

Prices are still going up You people are CLOWNS. Here you go
1) Statistics: Per Jonathan Miller, Brooklyn condo sales dropped 11.3 percent in the second quarter, from 778 to 690, according to Miller Samuel. Prices are still going up, but the average condo sales price increased just 4.9 percent from the previous quarter, compared to 8.6 percent fin the same quarter last year

Posted by: sebb at October 1, 2008 12:47 PM in response to Has the Bubble Finally Burst?

setancre: well said. If the people on this Board would understand what happened in most of America with the Mortgage crisis, they would understand the big Difference In most of America and NYC. No one in Nyc that worked as a cashier at Met foods went to Wells Fargo and Pretended to make $300k with a No Doc loan. I believe Many ignorant Southerners and middle Americans are to Blame for this Mortgage mess. Let's get one thing straight on this board I believe prices will decrease but no more than 15% across most of the city. When you see these price drops from some of the Builders and think WOW prices are really falling around NYC You are actually being Fooled.
Understand this Builders Started with The Highest Asking prices and don't really care if they lower the price Hundreds Of thousands because they are still Making a huge profit off of the Sale. Look around the world NYC is the 22 Most expensive place on earth to Live . Tell me what place is Better than NYC. NONE

Posted by: sebb at October 1, 2008 12:43 PM in response to Has the Bubble Finally Burst?

Because renters are the only people on this board who comment. The real fact is prices in Nyc did not even go up anywhere near what South Florida , Vegas and AZ did So they wont be falling anywhere near those markets
Yet the fools who are renters continue to bash NYC. After this Bill gets passed tonight you will see the Bottom in 2009.

Posted by: sebb at October 1, 2008 9:36 AM in response to Has the Bubble Finally Burst?

So now I declare every negative comment will be a angry renter. So lame.

Posted by: sebb at October 1, 2008 9:16 AM in response to Has the Bubble Finally Burst?

Hey (Tyburg6) if you think $700k is a lot of money for NYC than i think it is time for you to look into North Dakota Real Estate.

Posted by: sebb at September 24, 2008 1:22 PM in response to New Bed-Stuy More Like Old Bed-Stuy?

I think Bed stuy is a Great buy for a Young Family or those into the Arts. For $700k you can get a Beautiful Home. I see this area increasing in value over the next 7 years.

Posted by: sebb at September 24, 2008 10:06 AM in response to New Bed-Stuy More Like Old Bed-Stuy?

Yea Ok the Whuh is not the WHAT.

Posted by: sebb at September 23, 2008 5:22 PM in response to House of the Day: 304 Union Street

How many People in NYC claimed they were making $300k working at MET foods as a cashier to qualify for a mortgage? None Zero. But guess what in FLORIDA cashiers working at Publix Supermarket did Claim they made $300k. That is the difference from the NYC housing market and the rest of the country. Will NYC prices drop? Maybe a bit but not like the rest of the country. Buyers do not let these Renters scare you. If you want a Home to live in Go out and buy. If you are looking to profit in 1 year than look for another way to make money.
More On Three Facing Federal Charges In Alleged Palm Beach County Flipping Scam
In Palm Beach County, Florida The Palm Beach Post reports on the criminal allegations facing Berry Louidort and Ralph Michel (also known as Ralph Duverneau), who are accused of putting together deals for two dozen homes in Palm Beach County, persuading banks to loan far more than the properties actually sold for, then pocketing the difference and letting many of the homes lapse into foreclosure; and Boca Raton mortgage broker Lauren Jasky who is accused of helping Louidort and Michel arrange the deals.

There's Michel - a native of Haiti who, according to his attorney, can't read or write well enough to pass a U.S. citizenship test - collecting "assignment fees" of $650,000 and $600,000 on side-by-side homes in the Versailles development in Wellington.

There's Louidort, also a native of Haiti, describing a scheme to buy 50 condos in Boynton Beach while stealing $4 million from lenders. He thinks he's talking to a willing accomplice. In fact, he's laying out the plot to an undercover FBI agent who captures the conversation on videotape.

There are straw buyers, such as the part-time Publix cashier whose income on loan applications was inflated from $13,000 to $344,000 so she could qualify for $1.3 million in loans on a palatial home in a gated community in Boca Raton.

There's Jasky saying she doesn't want to know the unsavory details of the loans she's shopping to lenders. Meanwhile, her mother is acting as the Realtor on some of the deals.

Posted by: sebb at September 23, 2008 3:43 PM in response to House of the Day: 304 Union Street

No No Johnife. What put us into this situation was the Greedy Southerners who took out Mortgages and failed to read the Closing documents. Then they convinced themselves that the price of the Home/Investment they bought would always go up. See the Southern states and many states across the USA have Zero regulations, they have no advocate groups like NYC. Florida actually had MURDERERS and BANK ROBBERS Selling Mortgages to Greddy Buyers. Please check the link and read for yourself. http://www.miamiherald.com/multimedia/news/mortgage/

Posted by: sebb at September 23, 2008 3:33 PM in response to House of the Day: 304 Union Street

The negative renters are ranting again. Does this ever stop?

Posted by: sebb at September 23, 2008 3:21 PM in response to House of the Day: 304 Union Street

Very nicely done. I see this selling not sure of price.

Posted by: sebb at September 23, 2008 3:15 PM in response to House of the Day: 304 Union Street

I am a Home owner I am not worried at all about the price dropping. Why? because i put down a Large downpayment. Do I want prices to drop NO. But I really do not care. All I am trying to say here is i do not see prices dropping and the folks have been talking about this for 3 years now. Enough already. If you want to see price drops go to www.Miamiherald.com

Posted by: sebb at September 22, 2008 4:51 PM in response to What Lies Beneath?

I just would love to hear from people who Own homes and Live in Nabes like Cobble Hill, Carroll Gardens , Park slope or Bklyn Heights. Tell me do any of you guys hear or see any problem with the RE market? because i really do not.

Posted by: sebb at September 22, 2008 4:07 PM in response to What Lies Beneath?

But again I ask the Same question. Where are the comments by the homeowners? The renters rule this board I am confused on why a renter is even reading brownstoner. I guess if the Renters bash the market Long enough they might make a difference. I don't think so.

Posted by: sebb at September 22, 2008 4:04 PM in response to What Lies Beneath?

Santa You parents live in NC thats fine for them but there is not much to do in NC . Most people that live in NYC would never think of living in the Suburbs. Plus the fact that Crime is Sky high in Charlotte who would really want to move to the South. The prices are so low in places like NC is exactly my point where else will the go? to ZERO

Posted by: sebb at September 22, 2008 4:02 PM in response to What Lies Beneath?

But where are all of the Homeowners? So if you people (renters) think RE will fall 40% In a Place called NYC. What does that do to the rest of the United States? I guess Real estate Prices in Places like New Jersey , Long Island , Florida, and Idaho become Worthless . Basically you are talking nonsense. People need places to live. I Don't see anyone panicking in any of the Blue chip nabes in Brooklyn. With 93 Foreclosures in Manhattan compared to 4 million in the rest of The USA you wont catch any Homeowners jumping out the windows. Plus you people keep missing a major point.
Countries like ABU DUBAI and DUBAI will scoop up real estate in NYC . They already bought the Chrysler Building and they were talking today of buying more Real estate in The US They are not talking of buying in the Suburbs.

Posted by: sebb at September 22, 2008 3:26 PM in response to What Lies Beneath?

After the Treasury injects 1 trillion into the US mortgage market I would looke for a rebound in the next 8 months. With NYC Leading the way of stabalization.

Posted by: sebb at September 22, 2008 9:28 AM in response to What Lies Beneath?

Not only in Brooklyn but i think Carroll Gardens, Cobble Hill, Bklyn Heights, Park Slope and Boruem Hill are some of the top in NYC. Of course areas like Ft.greene and Clinton hill are very nice to.

Posted by: sebb at September 18, 2008 10:31 AM in response to New York's Best Neighborhoods

Thank you Brucef

Posted by: sebb at September 17, 2008 4:12 PM in response to Staircase going down

This is 2008 we should Put Cameras on every single block in NYC. Crime will go away. Plain and Simple.

Posted by: sebb at September 16, 2008 9:18 AM in response to More Troubles with Teens

How come there is so many negative comments? would any Home owners put these thoughts out like this? I don't think so.

Posted by: sebb at September 15, 2008 5:32 PM in response to Wall Street Reorg: Impact on Real Estate?

Lechacal: what the Heck are you talking about? I do not Think that The Large Percent of people who live in Cobble Hill, Carroll Gardens, Park Slope and The Heights care about any of this. They have owned there homes for many years some handed down from family members. Others that have bought more recently put down large down payments and care less what happenes.

Posted by: sebb at September 15, 2008 10:16 AM in response to Wall Street Reorg: Impact on Real Estate?

Daveinbedstuy you are 100% correct . Rents and prices in NYC are very cheap and this market has been second behind LA or San Fran for a long time in being the most expensive in the Unites States. There is no Justification for that.

Posted by: sebb at September 12, 2008 10:38 AM in response to Housing Crisis Will End on June 30, 2009

I think this has some legs. Also NYC is the 22 most expensive place to live in the World.

Posted by: sebb at September 12, 2008 9:32 AM in response to Housing Crisis Will End on June 30, 2009

This seems to be a cheap price. If you listen to Jim Cramer and I don't ! NYC Real Estate is going to be very strong next year.

Posted by: sebb at September 11, 2008 2:40 PM in response to Co-op of the Day: 40 Prospect Park West, #6K

The Condo in CG did they make that into 2 condo units, One triplex and another one floor unit? It seems like they sold themselves short no? why not sell the units individually.

Posted by: sebb at September 9, 2008 1:50 PM in response to Last Week's Biggest Sales

One thing everyone must realize is that there are no jobs in the United states except for NYC and parts of Cali. If anyplace will hold the value it is NYC and San Fran.

Posted by: sebb at September 5, 2008 11:03 AM in response to Real Estate Market Will Be Fine by 2011

I am not sure of the size of your home but i will say the homes in Carroll Gardens have been selling for a pretty penny.

Posted by: sebb at July 30, 2008 9:59 PM in response to Bank Appraisal for HELOC

Does anyone have a link to the building code laws regarding the pull down stairs?

Posted by: sebb at July 28, 2008 3:35 PM in response to Stairs to Roof Deck

This affects the streets from Henry to Hoyt for the Place blocks and also other blocks like Carroll and President. The Need now comes With the Landmarking the Whole Area.

Posted by: sebb at July 24, 2008 10:42 AM in response to CG Zoning Tweak Passes; Oliver House Height Doomed?

South slope woodworkers on 3rd ave are very good. Ask for a guy named Dean.

Posted by: sebb at July 23, 2008 1:07 AM in response to Woodstrippers around Park Slope

March 1 I agree with you the bottom of court is getting real nice. Frankies 457 is wonderful. These apts are a great deal when compared to other similar type condos.

Posted by: sebb at July 17, 2008 6:15 PM in response to Condo of the Day: 505 Court Street

I think this is not a bad place for a family who wants to be in a Blue chip Nabe. I mean of course things in the building will not be perfect but what building is? Buy a House and tell me it's perfect.

Posted by: sebb at July 17, 2008 1:45 PM in response to Condo of the Day: 505 Court Street