House of the Day: 1380 Dean Street
We like the looks of this four-story limestone house at 1380 Dean Street in Crown Heights. It started out last January asking $829,000, according to StreetEasy, and has just been cut to $775,000. It’s hard to make a guess about what something is “worth” while we’re in the eye of the storm, but suffice it…
We like the looks of this four-story limestone house at 1380 Dean Street in Crown Heights. It started out last January asking $829,000, according to StreetEasy, and has just been cut to $775,000. It’s hard to make a guess about what something is “worth” while we’re in the eye of the storm, but suffice it to say that this place presents an opportunity to live in a 3,000-square-foot house with nice original detail with mortgage payments that would be south of $4,000 a month. Then again, the way things are going, there’s no rule of nature that says this won’t be going for $600,000 six months from now.
1380 Dean Street [CitiHabitats] GMAP P*Shark
Ironballs, lay off the Fox News.
head-in-the-sand or head up your….
You really think the prospects of Obama as president is driving this market? That’s some hole-in-the-sand thinking IronBalls.
dittoburg – there’s a lot of things I haven’t taken into account. I’ve only started thinking seriously about buying in the past couple of months, so I’m trying to get up to speed on a lot of things. For example, I have no idea how much mortgage interest one can deduct. 🙂
We won’t truly be looking to move until next June at the earliest, but I want to start learning now. In the interim, we’re saving money in anticipation of eventually needing a down-payment.
That would be really nice, ditto, but for those of us making a modest income, that’s near impossible in this city, even if you live in some of the farthest reaches of the borough.
For renting, I would favor keeping it closer to 25% but I think for buying that percentage can be higher
CWB, did you take the mortgage interest deduction into account? Having said that, I’m not a fan of spending more than 25% of your income on mortgage or rent, there are too many other things to enjoy, buy, save for and give too.
we make just over 100k combined and our mortgage plus maintenance in a co-op are 2600. doesn’t leave a ton of wiggle room, but it’s not horrible. i’m sure you could make those payments work.
Oh yes, of course it’s Obama’s fault that the market is falling. What’s the matter, tired of blaming the carnage of the last seven years on Bill Clinton?
TD – I think the point he was trying to make was “I feel like railing on aimlessly about stuff not relevant to the topic at hand.”
Also, thanks for the answer. That’s interesting to me, as my fiancee and I combine for just above $200k, and we thought $4k/month in mortgage would be well out of our range. Maybe we’re spending too much on luxuries. 🙂