Co-op of the Day: 154 Lafayette Avenue, #2
We are digging this new FSBO listing in the Brownstoner Marketplace. This townhouse floor-through apartment at 154 Lafayette Avenue in Fort Greene has some killer Greek Revival details, including a gorgeous parlor ceiling, along with an interesting approach to kitchen design which works well for the space. The asking price is $575,000, which comes in…
We are digging this new FSBO listing in the Brownstoner Marketplace. This townhouse floor-through apartment at 154 Lafayette Avenue in Fort Greene has some killer Greek Revival details, including a gorgeous parlor ceiling, along with an interesting approach to kitchen design which works well for the space. The asking price is $575,000, which comes in just south of $700 a foot for the 830-square-foot space. You feeling it?
154 Lafayette Avenue [FSBO] GMAP P*Shark
if listings dont look CHEAP and you’re not worried that prices will ROCKET on you, there’s really no mad rush to buy anything right now.
Are we heading for inflation or deflation though? Oh wait! it’s Monday, so the color of the day is inflation yellow. Tomorrow, deflation orange.
Why is everyone pretending they have a crystal ball?
As inflation reappears, it will drive up the price of all hard assets, real estate included. Economics 101.
“rates will not rise rapidly”
And new buyers are not expected to want to sell rapidly. But by the time they do (unless they’re “lucky” enough to have their hand forced sooner), they’re looking at selling into 8%+ rates and thus a collapsing affordability scale. A collapsing price.
***Bid half off peak comps***
DIBS-
There is plenty of inflation, just not reported by the government. Prices of food is way up over the last few months, something you notice when on a pension. There is commodity inflation going on, but deflation in financed assets.
Higher interest rates would likely mean lower real estate prices as the monthly nut goes up.
“I bet most of you have never seen interest rates this low!!! You never will again.”
The exact same thing applies to prices, albeit inversely. Takes two to tango.
***Bid half off peak comps***
Agree, Ringo. rates will not rise rapidly. And there are no inflation expectations to drive them.
Decent looking place, but that looks waay smaller than 830 sq ft. Unless the FP is not to scale (which would be stupid). If there was an extra room (office, den, whatever), I’d be sorta interested, even though I’m not a fan of Ft Greene.
DIBS, these interest rates are forcing us to start to think about making a move to a more “forever house” (and selling current place to cgar natch). We’ll never see 30 year fixed rates at 4.5% again. But — ugh — stressful.
Still, I can’t imagine will be over 6% in the next few years. So maybe time to think it over? I hope so…