Foreclosure Picks: January 10 and 11
Flatbush 601 Linden Boulevard Wednesday, 11 am 210 Joralemon, Rm 911 Lien: N/A GMAP Canarsie 1075 East 34th Street Thursday, 3 pm 360 Adams, Rm 261 Lien: $531,725 GMAP Ocean Hill 1519 St. Mark’s Avenue Thursday, 3 pm 360 Adams, Rm 261 Lien: $525,527 GMAP Bedford Stuyvesant 162 Halsey Street Thursday, 3 pm 360 Adams,…
Flatbush
601 Linden Boulevard
Wednesday, 11 am
210 Joralemon, Rm 911
Lien: N/A
GMAP
Canarsie
1075 East 34th Street
Thursday, 3 pm
360 Adams, Rm 261
Lien: $531,725
GMAP
Ocean Hill
1519 St. Mark’s Avenue
Thursday, 3 pm
360 Adams, Rm 261
Lien: $525,527
GMAP
Bedford Stuyvesant
162 Halsey Street
Thursday, 3 pm
360 Adams, Rm 261
Lien: $645,818
GMAP
What do you all think about this place? Pretty sweet & reasonably priced. I’m thinking of making an offer at ASK.
http://www.prudentialelliman.com/913331
7:15, Maybe you should marry one!!!
That Bed-Stuy one is gorgeous. I’m so attracted to the tall, skinny brownstones.
you pay a percentage in cash when you win the auction. There are different types of autions. The bank foreclosure auctions are the trickiest and have the professional sharks at work on the properties usually making deals with the former owners at the last minute. The more open ones are the city owned properties that sell as estate sales. The prices are higher, but if you have enough cash to put down you can get one. The now famed Broken Angel property was bought from the city at auction very cheap. But those were the days when no one wanted to live in Brooklyn or the city and it was easier to get property cheap. Now its like a gold rush in the city…
No they’re definitely discounted, the foreclosures. Of course the price goes up if the property attracts a lot of interest and people compete for it. Same with any real estate property.
if I’m not mistaken you have to be prepared to pay cash at the time of sale
Real estate novices getting into the foreclosure market sure reminds me of late 2000 and my stock broker calling me and practically yelling at me to buy Sun Microsystems stock at the bargain price of $50.
There are some good buys and some lemons. Look at propertyshark.com, look at(walk by)a few houses slated for foreclosure, and go witness an auction(aution address on propertyshark.com). It is not for the risk averse but I would encourage anyone interested to educate oneself of the process. It might work for you.
I would bet there’s a lot of disrepair and deferred maintenance in a foreclosed property.