House of the Day: 49 Dikeman Street
Given the timing of this listing at 49 Dikeman Street in Red Hook (the seller bought the two-family house in 2007 for $745,000), this has to either be a planned flip or a desperation sale. We’d bet the latter since the renovation looks nicer than your average contractor flip job; in particular, we’re impressed that…
Given the timing of this listing at 49 Dikeman Street in Red Hook (the seller bought the two-family house in 2007 for $745,000), this has to either be a planned flip or a desperation sale. We’d bet the latter since the renovation looks nicer than your average contractor flip job; in particular, we’re impressed that they’ve tried to preserve the original details. The kitchen, while hardly fancy, is also attractively done. Given the cost of the reno and the broker’s fee, no one’s getting rich on this deal even if they manage to get the asking price of $879,000, which they might, given the scarcity of attractive houses in Red Hook.
49 Dikeman Street [Betancourt] GMAP P*Shark
They are not like other forms of investment, Nomi. In fact, real estate is far less volatile.
“I’m not sure I’d go with the subjective ‘desperation sale’.”
I am!
20 WIDE by 52 DEEP, hmmm…
***Bid half off peak comps***
Who thinks home ownership is 100% analogous to other types of investment?
(I think ‘desperation sale” is even more desperate when the sale has to be done in a down market.)
No floorplan. No pictures of the apartment and what’s happening with the windows to the garden floor? And the pictures are taken at night! But, this is a great Red Hook block and it looks like a nice house. And, very true — scarcity of houses — attractive or not — in Red Hook. Hard to guess on price without seeing more of the house or knowing layout or sq ft, but, yes, they are not going to make anything back. Rough.
I’m not sure I’d go with the subjective “desperation sale.” If they sold in an up-market for the same reason (relocation, divorce, etc.) and made a profit but missed out on future appreciation, would you also call that a desperation sale? Seems to me this is another example of why home ownership isn’t 100% analogous to any other type of investment, notwithstanding that belief in certain quarters.
not enough photo’s and where’s the flr plan? can’t figure out pricing in Red Hook where prices are all over the place.
This sure beats those IKEA garage lofts.
I think this house is cute and it’s close enough to Van Brunt to make it attractive. My only concern though is plunking down even $750K for a house in Red Hook during this market a good idea? – maybe, just not sure
Does the price include the dog?