House of the Day: What Price PLG Perfection?
Even though $1.395 million is a lot of dough for Lefferts Manor we think this new listing won’t even be around to see the fireworks next week. If you’re into period perfection this place will knock your socks off. (On the flip side, if you’re not, it’ll make you gag.) It’s got the full monty:…
Even though $1.395 million is a lot of dough for Lefferts Manor we think this new listing won’t even be around to see the fireworks next week. If you’re into period perfection this place will knock your socks off. (On the flip side, if you’re not, it’ll make you gag.) It’s got the full monty: parquet floors, carved wood paneling, leaded stained glass. The 20-foot detached house sits on a 37-foot-wide lot on the neighborhood’s (arguably) best block. For $100,000 less, we think this is looking like a better buy than 68 Midwood despite the latter’s many positive attributes. Think we’ve got that right?
77 Midwood Street [Aguayo & Huebener] GMAP P*Shark
11:44–Well, you never do know with any house, that is for sure. That’s why you need a contractor you trust to come along with you. And, of course, an excellent structural engineer.
I wouldn’t buy a house that had water damage without seriously discounting the property. My friend just bought a place which was supposed to have minor damage. Once purchased, it turned out the roof joists were damaged and had to be replaced. It went from a minor job to a $80K job in a matter of minutes. Maybe there was only $5000 of damage on Rutland Road. And maybe it was understated.
I hope you find the house you are looking for, Anon 11:33am.
I still think this blog has turned into loserland. These PLG posts have become the province of the bouregeois. Park Slope, here we come!
And by the way – what’s up with all the armchair economists feeling so entitled to share what they (DON’T) know???!!!
These PLG threads have been polluted by anonymous, privileged white people implying they have a right to pay less if they are going to live near poor black people!
I’d rather shoot the sh*t with a crazy, homeless man on the stoop of an SRO. I have a funny feeling I’d learn more.
12:12am–if you passed on 38 Rutland because of the water issues, you made a mistake. I brought a contractor to look at it and he estimated it would cost no more than $5,000 to repair. Given that the house sold for $250,000 under the initial asking (and $50,000 under the reduced price), that isn’t much. Also, as someone pointied out, almost any house will require tens of thousands of dollars in work to update mechanicals and wiring. The $5,000 to fix the water problems in 38 seemed pretty insignificant to me and, as I said in my earlier post, wasn’t why we passed on the place. I assume any house is going to require at least some repairs or changes.
Ed–I wrote one of the posts questioning the listing price of this house, and I’ll have you know that I an not a home buyer. I own a lovely house I have no intention of ever selling. My only interest is sharing what I know about prices due to my real estate addiction and pointing out what I see as overpriced (or when it happens underpriced). People can take it or leave it, but please don’t try to pretend it is the mad work of someone trying to lower prices.
I can’t tell what exactly the wall paper is here Morris, Sanderson, or junk. I agree that junk is junk and out it goes. But I can’t tell from the pix. I have seen people complaining about Sanderson paper in the past saying how it’s horrible, blah, blah blah…
Well, I think it’s nice. Not where I’d want to live – but I can see why somebody wants to live there.
What’s annoying are these real estate shoot-the-sh*t sessions.
Basically, it’s turned into a dialogue between homebuyers trying to put out bad reviews to bring down prices so they can snag a deal, and homeowners and brokers defending their property value and neighborhoods.
This blog has quickly turned into loserland.
I saw 38 Rutland Road and the water issues very much affected my decision to pass on that property. The Buyer was right to negotiate down the price, even though the property was wonderful in so many other respects.