House of the Day: 87 Woodhull Street
While the exterior and backyard of 87 Woodhull Street aren’t particularly inspiring, the interiors still have pockets of charm. (Not sure what’s up with that ceiling though?) Given the fact that the house hasn’t changed hands in forty years and the glaring absence of any bathroom or kitchen photos, we’re guessing this place is going…
While the exterior and backyard of 87 Woodhull Street aren’t particularly inspiring, the interiors still have pockets of charm. (Not sure what’s up with that ceiling though?) Given the fact that the house hasn’t changed hands in forty years and the glaring absence of any bathroom or kitchen photos, we’re guessing this place is going to need a serious makeover. If this four-family house were on one of the better blocks in Carroll Gardens, they might have a shot at the $1,800,000 asking price, but Woodhull ain’t Sackett Street, so it seems like quite a reach to us.
87 Woodhull Street [Douglas Elliman] GMAP P*Shark
I can see the Sackett comparison. Because OBVIOUSLY it is not a prime block or location. But it isn’t even as nice as an okay house on an okay block of Sackett. Just guessing, looks like 1.2-1.4 at most.
I live in a nice, spacious apt that with modest rent – trust me, even if I rent for a few years, I will save far more than my rent and moving expenses (and “lost” tax benefits) by the price cuts I’m seeing which in some cases, have been well over 100K – more like 200-400K (and again, it’s JUST starting). You don’t need to teach me real estate 101 – I’ve been in this game for a while with several properties. Plus, I hope to buy in the next year or two (depending on what i find). As for closing costs, they go DOWN when the property is cheaper, so by waiting, I save there too. I don’t need to say any prayers – I just pay attention to the news, and the calls I’m getting from brokers – all of which point to lower prices/increased savings for buyers in the future. Maybe you need to say your prayers – you sound like you have a lot to lose in this downturn.
“Just in the last few months, a few places I’ve looked at have had major price cuts. Had I bought a few months ago, I would have needlessly paid over 100K+ more”
“in the rest of the country, they’ve tumbled a lot but NOT here, or at least, not *yet*.”
Miss Muffett, I think you’re actually very cordial and composed when facing your detractors. Further, I’m not saying your predictions are inaccurate nor am I suggesting housing prices won’t decline further in 2009. However, the two excerpts above from your last in your 5:43pm post seem contradictory.
Muffett all can do is sit there and hope. I hope you say your prayers tonight.
See Muffett what you did fail to realize again is your costs. You are paying rent right? Or do you live in a box? So factor that in to your 100k in saving you talk about. Now take the closing costs and the real estate attorney fees. Now take the moving expenses and don’t forget the tax write off. Now how much is the 100K down to? I don’t know about you but my closing costs were close to 50k on one of my homes.
And Sebb, what do you mean when you say I’m best at Sewing? I wish I was so good at sewing! But alas, I’m not. (Ah, your unintentional comedy…)
Sebb – your vitriol is very strange. I, an anonymous individual on a blog, do not have the power to single-handedly push prices down, no more than you do to keep them up (which you seem to wish to do). Why on earth would I move out of state when I love Brooklyn and prices are coming down to a level where I can at last afford a bigger place for my family? I’m just reporting the reality on the ground, as someone who is looking and bidding. Say what you like, but the evidence is all around us: prices ARE coming down. Just in the last few months, a few places I’ve looked at have had major price cuts. Had I bought a few months ago, I would have needlessly paid over 100K+ more – now, why on earth would I want to do that? Especially when all indicators are that the price cuts in NYC have *just begun*? Yes, in the rest of the country, they’ve tumbled a lot but NOT here, or at least, not *yet*. So, when you say this is a great time to buy, well, that may be true in other US markets where prices have already tumbled in the double digits, but here in NYC, they have barely hit the single digits. But, it is changing. It just is. You cannot seriously be predicing price gains for 2009? Or even level prices? Face it, Sebb – this is an undeniable downturn, and all the red-faced, grammatically challenged, and embittered invective you spew will not change the downward movement of prices in NYC.
Miss Muffett: If I were you I would just move out of state. I can’t wait until a few years go by and you get burned. You think you are so smart and can time this market on the way down. Let me tell you something you can come on this blog everyday talking your junk. But everyone is on to your game you just want to try and push prices down with your useless comments. It won’t work. Until you understand Real esate and have owned many homes I think you would be better off sticking with what you do best (Sewing)
I don’t really understand the comment at the end of the original post: “Woodhull ain’t Sackett Street”. Woodhull isn’t a particularly lovely block, but neither are most blocks of Sackett. If you were going to point out a beautiful neighborhood block, I’d probably say ond of the landmarked blocks, like President or Carroll between Smith and Hoyt, or one of the place blocks. But why Sackett??