Can anyone give me good news?

I’m a longtime reader. This is my first question to the forum. We are looking to buy a home in District 15 (we rent now), and I am quite sure I am not alone in feeling anguished at the limited inventory. As anyone in a similar situation knows, this has triggered a feeding frenzy in which we cannot compete. We are an (upper) middle class family dueling with international buyers, investors and people with $1.5M+ in cash. This is to say nothing of the nudniks who would agree to sign away their mortgage contingency clauses. I don’t deserve pity. People in far worse shape are squeezed to a much greater extent. But I am disappointed that the neighborhoods where I hoped to raise my family have become unaffordable.  I suppose other than venting, I would love to hear good news. Does it get better come summer time? Are there deals? (I am sure many of you are laughing at that). But please advise.

brooklynschlepper

in Real Estate - Sales 12 years and 2 months ago

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slopegirl | 12 years and 2 months ago

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I’d also love to know about those secret but awesome public schools!

faithful | 12 years and 2 months ago

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I agree with everyone who suggests that you broaden your horizons.  I grew up in Boerum Hill/Park Slope and was unable to afford to buy there.  I’ve been in Crown Heights North for 5 years and I have no complaints.  In fact, since I’ve been there the amenities are slowly creeping up.

snarkolepctic | 12 years and 2 months ago

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Aha. You want specific neighborhoods in D15\. We all do. But you need to expand your search.  Look in Windsor Terrace. The school over there is great. Keep renting and try for a lottery spot at Brooklyn New School or the Brooklyn Children’s School and then move.  PS10 in South Slope is the next PS107.  The new school on 4th Avenue sounds like it will be good.  There is life beyond Cobble Hill and Center Slope, and sometimes it’s even more interesting.  (I don’t find Barney’s Coop on Atlantic Avenue interesting, or affordable for that matter…) When you expand your search area you will see that there are plenty of (upper) middle class people like you who don’t have $1.5M in cash and have moved a little further afield. It’s ok, your people are in the farther flung brownstone/frame house ‘hoods, too, along with a more interesting mix of long timers and far less affluent.  Side note –  I do not believe that Well-Phed is correct. I think you have to live in D15 if you want your children to go to middle school in D15.

cate | 12 years and 2 months ago

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Well-Phed, where are the schools terrific but no one knows about them?

well_pHed | 12 years and 2 months ago

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how old are your kids?  just rent until you get them into your D15 schools of choice and then buy someplace cheaper.  DOE rules allow them to stay in their current schools, and from a D15 elementary school you get D15 middle school choice.  or, you know, buy in a neighborhood where the local schools are terrific but under the radar – that’s where the true value is!

slopefarm | 12 years and 2 months ago

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Greenwood Heights. Sunset Park, Down the hill in Windsor Terrace. Kensington. I doubt the international investors with $1.5m cash are your competition there. Penty of nice areas in those hoods, All district 15\.

BobMarvin | 12 years and 2 months ago

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There IS life beyond District 15\. I discovered that many years ago, possibly before you were born, when Park Slope, where we were renting, became “unafordable” at [gasp] SIX FIGURES! People have been priced out of various neighborhoods for a very long time and found alternatives. Nevertheless, the present situation, with high demand and extremely low inventory is very likely an anomoly, so you may have a reprieve over the next several monthe.

lmbzfksl | 12 years and 2 months ago

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Move to Clinton Hill or Prospect Heights. It is pretty nice here, def more gritty but less entitlement!

landlord | 12 years and 2 months ago

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I doubt the feeding frenzy can be maintained at the current level for too long.  Just sit on the side and let the others take the dive.

landlord | 12 years and 2 months ago

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From what I can tell, District 15 is huge!  I am surprised you can’t find anything in your price range. http://www.brooklynprospect.org/Map