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
Antidope – there were plenty who saw this coming. Nouriel Roubini anyone? He’s just one of the better known ones. But the bears now are hardly “the first folks who can see the future correctly”. If anything, this crisis was predicted by many, who were scoffed at and reviled, just as you and others do now with those who predict continuing declines in NY RE. And quibbling over details, as MfN points out, ignores the elephant in the room – price. Architecture, style, location, etc. matter but everything has its value, and that’s what’s still out of whack with so many asking prices.
thank you denton. chorus singing is always a bad sign.
stock market is off 40% since peak (09/07).
but it’s also up 38% since trough (03/07).
so where does that tell us the market is headed directionally?
Tells me nada.
> 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.
Isty,
It’s not grouchy. it’s just being real. I’d rather talk about macro-situations than dissect and try to price brownstones. Just kinda pointless.
What makes me tired is listening to people discuss the plusses or minuses of wrought-iron sink pedestals and laminate flooring or squares on walls and fugly back yards and whether they like victorian details or modern decor—and what that is ultimately worth.
Really, who cares? Find the place you like, at a price in line with economic fundamentals, and buy it.
MM and MN and let’s drag the other trolls into this (you know what you are, BHO) are “thrilled” to be renting yet trolling and practically begging — please, please I can practically hear it — the market to drop further.
If they were so sure of their views, they’d probably spend less time trying to convince others their view is correct and that they are indeed the first folks who can see the future correctly. Godspeed.
“It’s not just Deutsche’s view though. We can thrown UrbanDigs in for what it’s worth as a local expert (N Rosenblatt), and you can read John Talbott and others for similar views. But sure, DB hardly infallable. But the chorus generally seems to agree.”
The chorus seems to agree. I love that sh*t. When the chorus agrees, time to ignore the chorus.
Where was the chorus of these same assholes predicting their own demise two years ago? DB, BS, LEH, C.
Meanwhile there are 29,000 GS employees who apparently have enuf for a down-payment on various real estate investments.
BAC announces Friday. AXP up 12% today.
Trying to catch the bottom is a sucker’s game. It will pass you by before you know it.
I also agree that for families, school quality in the area is a huge issue (is for me). That said, District 13 is lucky to have Community Roots, though it sounds very hard to get into (lottery). There is also the newer GreeneHill, which is a glimmer of hope. It’s not free, but evidently uses sliding scale for tuition based on income.
Miss Muffett and MoneyForNothing are so grouchy and repetitive that their posts make me tired. And MoneyForNothing spells “Fort Greene” “Fort Green.”
Hear hear MoneyforNothing – I’m thrilled to be renting now with cash standing by for when prices become more reasonable – til then, I ain’t biting. Sellers must get real.