House of the Day: 202 Clermont Avenue
While this four-story brick townhouse at 202 Clermont Avenue still has many of its original details, they are overwhelmed, in our opinion, by the charmless, albeit thorough, renovation that was performed back in 2005. If there was any doubt that the person doing the renovation did not understand the aesthetics of most potential buyers, just…
While this four-story brick townhouse at 202 Clermont Avenue still has many of its original details, they are overwhelmed, in our opinion, by the charmless, albeit thorough, renovation that was performed back in 2005. If there was any doubt that the person doing the renovation did not understand the aesthetics of most potential buyers, just check out that garden or the bathrooms. It’s too bad because the raw materials were there. It looks like the current owner paid $1,625,000 for the house in 2006, probably just as the previous owner was completing the renovation. It went on the market in March asking $1,725,000 and was cut to $1,675,000 in May, where it remains today.
202 Clermont Avenue [Brooklyn Properties] GMAP P*Shark
Hey, Pete, good call on the pictures probably being from the last sale. That garden is about five minutes old.
It most likely looks better now even if it’s been neglected. Though, that amoeba could take centuries to settle in .. .
Wow. This is completely charm and taste free. I agree about the floors. How hard would it have been to put down some red or white oak select? If you wanted to do something with charm, you could replicate a simple pattern on the floor with mahagony strips or walnut. The dark muddy looking molding (is that paint?) is gross and the yellow walls with the white trim doesn’t work. The kitchen is pretty bad. And the bathrooms are off. Strange fixtures. Look at how high the mirrors are. Is this designed for the NBA? Backyard? Why bother? Strange looking brick on the front. Other than that…. What a waste.
Buy now or be priced out forever! Idiots like antidope are crying to buy because you can’t “nail” the bottom. LOL, peeps really show their stupidity when you’re nowhere near the bottom (price/income).
MM: you’re absolutely correct to state that it is not impossible to lose money in real estate. Bravo. Check plus to you.
It’s also very hard to nail the bottom.
still waiting for your answer to my question.
I’ll look for your answer in the morning.
Good night all.
Actually, denton that’s not quite true. There are definitely people who bought NYC RE betting they were in it for long term, but then found it was too expensive (after a job loss) or had to deal with a sudden life shift, and had to sell at a loss. Not to mention lost opportunity costs if you buy when it’s obviously way overinflated.
“> Trying to catch the bottom is a sucker’s game.
Maybe. But buying when the bubble is still so obviously inflated – and even more obviously in the process of deflating – is a bigger sucker’s game.”
Snark, when anything is obvious, there’s a lot of money to be made. I wish I had the same crystal ball you do 🙂
I guess I could short Vornado, Boston Properties. But I’m not seeing that it’s so obvious.
antidope, I hear ya. The thing is to be a real New Yorker. Buy cuz you need a home. Live in it for a while. Enjoy the fact that you can put in whatever sink that you like, unlike the renters. And remember that no one has ever lost money betting on NYC real estate in the long term.
Antidope: tells me bear market rally
Denton:
picking bottoms is for monkeys. Agreed. Contrarian call on chorus. I get that.
But real estate is not a small cap stock. Your chance of missing the bottom significantly is much lower.
In the meantime, just based on common sense affordability we all see with our own eyes? Prices are way to high for many buyers.
Typical RE bottom: 5-7 years to occur. And that’s typical.
Hey, but that’s just my opinion.
MM-
name me five famous Belgians, er I mean, people who put their money where their mouth was in calling this collapse. And no fair including folks that have been bears for ten plus years. Timing matters.