House of the Day: 532 3rd Street
This limestone house at 532 3rd Street in Park Slope was an Open House Pick back in March 2007 when it was listed for $2,600,000; it quickly went into contract at the asking price. Now the 18-foot-wide single-family is back on the market for $3,200,000. It’s hard to see pulling off a 20% mark-up from…
This limestone house at 532 3rd Street in Park Slope was an Open House Pick back in March 2007 when it was listed for $2,600,000; it quickly went into contract at the asking price. Now the 18-foot-wide single-family is back on the market for $3,200,000. It’s hard to see pulling off a 20% mark-up from a year and a half ago, given that there’s only been bad news for the market since then. Whatever. Nice house, though.
532 3rd Street [Corcoran] GMAP P*Shark
Open House Picks 3/17/08 [Brownstoner]
I’m dating myself by saying UES, it’s true. But it may only be the most fossilized fortunes that survive this. I think it’s that bad. Some nutty eighty-eight year old coupon-clipper on Upper Fifth will be the last man with disposable income in America.
I thought the UWS inhabitants all sold their 2 bedrooms for 2million dollars and made a beeline to Bklyn to buy their townhouses.
Well gkw, what can I say? I know I’m obsessed with this topic (since we really want to finally install our family in a bit more space!) so I know I sometimes post a lot and if I repeat myself, well, I’m not the only one on this list to do so, and as has been said before, folks are free not to read the posts!
Whuh – are you crazy? People go to the UES to die. They never go out anywhere. Its the UWS inhabitants that go our to Per Se.
Sebb is awfully quiet today now that the DOW is diving back towards 8000.
I want to just say that I am among the most pessimistic of the pessimists – and became one the second the first iterations of the subprime mortgage hit back in aug, 2007 – probably because I saw my own family’s (very modest) fortune fall here in nyc with the last real estate crash in the 80s. I fully expect my own house to half in value before this is all through.
No I don’t mean that you hope to have an effect the market – just that since we all know it is in your interest for prices to come down, your daily, more or less repetitive remarks about where the market is headed – in which you strive to sound disinterested and sober minded – are starting to wear a bit thin.
Not that Sebb’s delusions are any better.
And I suppose since there were so many owners on here gloating about the rise in their home values while the market was on the up and up, there’s bound to be people gloating (in the most polite possible way) about the fall.
I think it was Sebb who was mocking DOW8000’s handle yesterday (not sure what he would say today) and I agree with Whuh that there are some on this blog who simply cannot accept that the market could ever stall, much less reverse course. I’ve always pointed out that we are not waiting for a “bottom” and we continue to actively look every day – and would buy something tomorrow if it was affordable and met our (rather modest) criteria. But I am incredulous when I see listings like this HOTD that seem a tone-dear continuation of a market that was unsustainable, and is finally showing itself to be so. The bigger issues that might be at hand that could lead to an implosion are actually pretty scary, so I hope for all our sakes that we don’t experience an all-out crash, though a correction would be hopefully a lot gentler.
You all need to come back down to earth a little bit here.
EVEN if they sell and make a 100K profit, that’s not a bad investment for 18 months. Certainly a lot better than most other investments these days.
Please realize that 600K is a HUGE amount of money. I was hoping this crisis would teach some of you that, but apparently some of you are still talking about 600K as if it’s loose change.