Contractor Suggestions Wanted

I will answer to the best of my knowledge, and I could care less if you are a broker, buyer, etc.

We looked at the Novo back in November, and were told to make an offer and they would consider it. So, I guess if your offer is reasonable, it will be accepted. The building will have some nice amenities, and it's really great to have a brand new place, but keep in mind a few things:

1) Apartments with Manhattan views also overlook 4th Ave., so it's not the most attractive side of the building, and future building on the other side of 4th may obstruct views of Manhattan anyway. Apartments in the back of the building overlook Park Slope all the way up to Prospect Park, so while it's not Manhattan, it also won't be changing in the future.

2) The bigger 2 Bedroom layouts are all a little weird. The master bath is through a closet and the shower is very narrow and hardly conducive to washing longer hair or moving around with ease.

3) Kitchen areas tend to have "dead space" where you could have had a small island or counter. Kitchen finishes are not as sleek as other new builds in the area and are kind of dated - shiny almond formica, almond counter tops. The kitchens at 457 Atlantic are so much nicer.

Hope this is helpful.

Posted by: velvetflip at February 21, 2008 12:07 PM in response to Novo negotiable?

We're first time buyers also and just finalized our mortgage. We put down 10%, financed the first 80% with an interest only mortgage and financed the remaining 20% with a home equity line of credit.

It's true that the jumbo loan amounts are now changing in our favor, but this will not affect the rates for a few months. We have already spoken to our lenders and they will let us refinance in a few months once it all happens.

Posted by: velvetflip at February 21, 2008 11:47 AM in response to seeking advice on securing jumbo financing

BTW, some other thrifts to check out, that had good rates on the ARMs (you can refi when the new jumbo rules take effect), and Fixeds when I was looking:
Astoria Federal Savings, Queens County Federal/Roslyn Savings.

Posted by: guest at February 21, 2008 6:12 PM in response to seeking advice on securing jumbo financing

Thanks very much for all of the helpful replies. As an FYI to anyone interested, the conforming limit on a 2 family is actually $533k. And local thrifts that take in deposits and hold loans on their balance sheets is definitely the best bet if you want a 30 year fixed jumbo...

Posted by: firsttimebrownstoner at February 21, 2008 10:22 PM in response to seeking advice on securing jumbo financing

I understand they are allowing people out who bought early due to long overdue move in, but no $$$ reductions or deals.

Posted by: guest at February 22, 2008 12:49 AM in response to Novo negotiable?

Not so fast Brownstoners...

Jumbo mortgage rates not seeing much relief - Congress' plan to help the jumbo-loan market -- passed two weeks ago as part of the Economic Stimulus Act -- still is a work in progress. Key details of the plan were left to the Department of Housing and Urban Development to nail down, which may take until next month. What's more, the securities industry's biggest trade group last week surprised lenders when it recommended that larger loans be in effect isolated from smaller mortgages in the "secondary" market, where loans are packaged into securities for sale to investors. That could keep interest rates on jumbo loans higher than some borrowers had hoped, analysts say. LA Times 2/22/2008

Posted by: moreteasir at February 22, 2008 11:02 AM in response to seeking advice on securing jumbo financing

Thanks 12:49. I think that stinks. I've found out a couple of people have gotton out due to a "material change" in their particular unit (one less window than the original rendering for example) but your info is helpful. I know some developers offer incentives instead of price cuts (like storage units, etc.) but I don't think Novo offers anything.

5:43- sorry I'm a nutjob for asking for 5 listings out of 1000 that meet my house search criteria. Maybe you're in a different position than me and can widen your search to anywhere in brooklyn- but I'm not. I also don't have boatloads of disposable income where a price difference of $50K does not matter. Anyway, I would still like help finding listings so if you find any (please- that meet the above requirements) please send. Thanks.

Besides- if you ever read the original post- I'm not a fan of the Novo- but for a complete search- I would be foolish not to check it out.

Posted by: panda10 at February 22, 2008 11:12 AM in response to Novo negotiable?

You are foolish.

Period.

It's so clear from all your posts.

You are asking if the Novo is negotiable but then say you can't look at places above 900K???

Why can't you look at places which are over your asking price and negotiate towards 900k?

You sound like a real idiot.

Posted by: guest at February 22, 2008 12:02 PM in response to Novo negotiable?

The Novo is asking 839K for a 3 bedroom.

The one listing you sent that was close to my $900K price point was the 5th street- which I put an offer in and was rejected right away. They had multiple offers above ask.

Again, you say things like there are 1000 listings but you can't find any for me. Please just send them over when you have them.

You sound really smart yourself and I'm thankful for your help. When you get the 1000 listings, let me know.

Posted by: panda10 at February 22, 2008 12:10 PM in response to Novo negotiable?

broker
broker
broker
broker

i don't have time to do your work for you. i'm too busy taking care of the 3 brownstones i own.

some shoveling to do.

sorry.

Posted by: guest at February 22, 2008 12:13 PM in response to Novo negotiable?

I don't get it- if you're so busy- why comment on posts that:

-you offer no help on
-you have no useful information
-you have no vested interest

I keep checking b/c I'm curious about my original questions.

You have time to send me 7 links- 6 of which ignore the basic criteria I laid out.

Thanks for taking care of your 3 brownstones by shoveling and keeping the pedestrians safe. Keep in mind- I've never insulted you in any of my replies. Not sure why you're so hostile in yours.

Posted by: panda10 at February 22, 2008 12:33 PM in response to Novo negotiable?

you are a condescending loser.

if you walk by my house, i'll be sure to leave some black ice out for you.

Posted by: guest at February 22, 2008 12:46 PM in response to Novo negotiable?