Foreclosures of the Week
If you don’t mind disposing of the abandoned town car in the front yard, 148 Winthrop Street in Prospect Lefferts Gardens looks like an interesting foreclosure opportunity. The lien on the 2,000-square-foot house is only $143,586, so it won’t be hard for the bank to get its money back. Any guesses what the market value…
If you don’t mind disposing of the abandoned town car in the front yard, 148 Winthrop Street in Prospect Lefferts Gardens looks like an interesting foreclosure opportunity. The lien on the 2,000-square-foot house is only $143,586, so it won’t be hard for the bank to get its money back. Any guesses what the market value of this place (which presumably needs a lot of work) would be? Meanwhile, over on Hart Street in Bed Stuy, this freestanding 2,250-square-foot house could be an interesting turn-around opportunity at the right price. It sold for $560,000 back in 2004 and the current lien is $470,463. Both properties are scheduled to be auctioned tomorrow at 3 p.m. at 360 Adams Street, Room 261.
148 Winthrop Street [Property Shark] GMAP
88 Hart Street [Property Shark] GMAP
will you marry me, rehab?
Don’t you pretty much have to have a brother-in-law who works for the county to win these auctions? I agree it would be a great clinic on Bstoner if indeed it’s actually possible to do these things.
“foreclosure of the week”
sort of like
“pound puppy of the week”
Save one, what about all the others?
There should be a Brownstoner sponsored workshop on how to buy houses in foreclosure. It’s preservationist-minded, it would serve a lot of the site’s regular visitors, it’s educational for the community.
Has anyone actually purchased a property at the Kings County foreclosure auction? My understanding is that you have to present a certfied check for 10% on the spot, and then follow through with financing within 30 days. Are these strict rules or is the process more flexible than that?
Me again from 1:07, I should be more clear and say our current house was purchased by the guy (along with a shadow group, actually) who bought it in foreclosure then flipped it and sold it to us. We’re not the owners who went into foreclosure.
Just don’t let the same flippers who bought our house in foreclosure, buy the PLG place. In our situation, it was one guy who claimed to the IRS he lived in the place as primary residence for 2 years, when he never spent a night in there, while a group of orthodox jewish investors were the ones who really put up the money, paid for renovations then made the money on the sale. Their renovations were total utter amateur crap, too. We’re still very happy with our house and the neighborhood, but please, Mr. Banker sell to people who are actually really truly going to live in the house, love it and renovate it right. It’s terrible how foreclosures bring out the dishonest cheapo flipper types. I really hope regular folk start to get savvy about how they too can buy a house in foreclosure – so they can outbid the flippers.
Try propertyshark.com
Hey Mr. Brownstoner,
Can you post any info on how an interested buyer might find out more about these properties. Are they going to be auctioned or are they being handled by a broker. What was your source for the forclosure info.