Bed Stuy Appraisals

Does anyone know if bed stuy appraisals are getting caught up with the comps in the area? Does anyone have any actual examples of bed stuy appraisals to share with the world? This, I’m sure would help many people in the same position of a buy/re-fi.

ralph

in About Brooklyn 12 years ago

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stonecastle | 12 years ago

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Gotham Valuation is very up to date and on top of the market. They were excellent!

bedstuytownhouse | 12 years ago

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Additional recent closings in Bed Stuy, hence the lag in appraisals catching up. 207 Macdonough closed for 250k on 6/12/13 53 Bainbridge closed for 20k (not a typo) on 8/15/13 249 Halsey closed for 350.5k on 7/17/13 607 Jefferson closed for 102.4 on 6/7/13

BSDOD | 12 years ago

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Wow! I remember 847 Putnam when it sold a few years ago…these comps are strong.

mortgagepro | 12 years ago

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I am seeing good appraised valuations on the Bed Stuy 2 Family (3 story) Brownstones lately where owners have overall been very pleased with refinancing properties they purchased 2-3 years ago. _(Especially nice for those who have Mortgage Insurance connected with their loan and now can refinance and remove the Mortgage Insurance.)_ Obviously adjustments (+/-) are made for a multitude of factors, but the higher recorded sales are becoming apparent here: 227 Monroe closed for $865,000 on 8/5/2013 847 Putnam closed for $890,000 on 6/28/2013 496 Quincy closed for $995,000 on 6/12/2013 585 MacDonough closed for $999,999 on 6/3/13 315 Macon closed for $930,000 on 3/11/2013 Adam Roberts South Shore Mortgage NMLS# 1310 631-956-0111 x218 adamr@fast2fund.com

bedstuytownhouse | 12 years ago

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Our four story (top floor is full height), 3 floors are completely renovated with very high-end finishes, think Waterworks fixtures, stone counter tops, original detail throughout, on a great block where things have recently closed for well over $1M, appraised at $975k in July, so no they have not, in my opinion.

emilyfrances | 12 years ago

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We had two appraisals that had not caught up with the market – one in February and one in May. We’re buying a mixed use property, so there aren’t as many comps and it will likely take longer to catch up. We’re getting the results for our third appraisal today or tomorrow (long story how we got to this many…..). I’ll let you know if the results went up.