House of the Day: 352 Argyle Road
We’ve always had a soft spot for the trio of woodframe houses at the corner of Cortelyou and Argle Roads in Beverley Square West because of their distinctive two-story porches. One of those house, 352 Argyle Road, has been on the market for about six months now, having started with an asking price of $1,200,000….
We’ve always had a soft spot for the trio of woodframe houses at the corner of Cortelyou and Argle Roads in Beverley Square West because of their distinctive two-story porches. One of those house, 352 Argyle Road, has been on the market for about six months now, having started with an asking price of $1,200,000. The 3,165-square-foot two-family house is now asking $999,000. There’s lot of nice woodwork and a not-so-nice kitchen. What do you think this place will ultimately sell for?
352 Argyle Road [Mary Kay Gallagher] GMAP P*Shark
That’s called a Double Porch and they’re not considered tacky or white trash in the South. Quite the opposite, as somebody said. I love this feature. I can’t see why anyone would hate the idea of the 2nd floor having a nice outdoor sitting area for reading that’s elevated above the street so you don’t feel on display for people and cars passing by. I myself would much prefer that on a busy street.
That listing is a house that was a foreclosure of the week a couple of months back.
http://bstoner.wpengine.com/brownstoner/archives/2008/08/445_e_19th_stre.php
If I were a rich man …
http://www.marykayg.com/html/0530.html
drool! drool! drool!
Mary Kay seems to still be moving these houses. Maybe not as fast as she used to but they are selling. The house on Rugby must have just gone into contract last week. If this one is in contract good for both the seller and the buyer.
you make a good point re some owners not being forced to sell at lower prices. But when those forced sellings hit the market, it brings the comps down – leaving the non-forced sales to languish on the market at higher prices, or be taken off the market altogether.
The other thing with long-term owners is that the properties tend to need more doing up. When we were new homeowners, we put in a new kitchen and bathroom, and skimmed and painted all the walls. When we sold it 12 years later, things were looking a little tired. The repairs and maintenance along the way get done on a budget because, inevitably, you don’t put any money aside for these so the big bills hurt the pocket.
Now multiply this for houses that have been in the same family for two generations and add on that there is no mortgage so they aren’t forced sellers and you can see why some properties just sit on the market forever.
Are you sure you don’t mean the red house on Rugby? Or did she think you wanted to look at that house? Because it’s now in contract, according to her website.
we were supposed to go look at this house on friday but were told by MKG staff that it is now in contract, so no point in seeing it. not sure what the buyers agreed to pay.
I’m not sure… I think it will go for more. $849 is my prediction.
It’s obviously going to be a buyer’s market for awhile, but I’m not sure it’s going to get that dire. Depends on how long buyers are willing to wait and see.
One thing to remember with the shabbier Flatbush houses – usually the owners are elderly, bought it for a song (say $29K in ’72), and do not have to sell. Hell, they might do better renting and leaving it to their grandkids.
It’s the reno’d properties where recent owners have bought high and invested money that have to flip quickly. That’s where you will find the best buys in the year to come, IMO.
Architerrorist beat me to it.
I’d also add that I think this house will go for 700k…eventually (if the owners are willing to sell for that).