Market Predictions for 2006: Neighborhood Picks
In what is now becoming an annual tradition, we invite you to share your thoughts and predictions for the Brooklyn housing market in 2006. Like last year, we’re particularly curious to hear your neighborhood “longs” and “shorts”. On a risk-adjusted basis, we’re most bullish on Prospect Heights and Carroll Gardens and, relatively speaking, would bet…
In what is now becoming an annual tradition, we invite you to share your thoughts and predictions for the Brooklyn housing market in 2006. Like last year, we’re particularly curious to hear your neighborhood “longs” and “shorts”. On a risk-adjusted basis, we’re most bullish on Prospect Heights and Carroll Gardens and, relatively speaking, would bet against Williamsburg. Overall, though, we don’t think 2006 will look at all like 2005, which was marked by huge surges in prices in some rapidly gentrifying neighborhoods. From where we sit, 2006 is looking like a year for the market to take a breath and digest all the rapid-fire changes that have occurred in recent years. Barring a big move upward in rates, we think prices will more-or-less move sideways. In our own little corner of Brooklyn, the big test will be whether the upscaling of Fulton Street can extend beyond Fort Greene. Man, could we use a gourmet market in Clinton Hill! Anyway, that’s how we see it. But what do we know. We’d rather hear from you.
Happy New Year.
Brownstoner
what about windsor terrace??? close to park and the slope? any thoughts?
sunset park is the next hot spot
Carroll Gardens has always been Carroll Gardens — a beautiful and safe place to live. Fort Greene, on the other hand, went through a renaissance; it was always beautiful in terms of housing stock, but it had some really hard times. Thankfully, it’s back. But because it had a renaissance, Fort Greene got lots of press. Carroll Gardens has stayed below the radar. People are finally catching on.
I think Clinton Hill/BedStuy, Gowanus (especially the 4th Ave. corridor) and Crown Heights are the other neighborhoods to watch.
Carroll Gardens is the sleeper because of local school, PS 58. For years the yuppies would just get a variance to go to PS29 because PS 58 was run like a catholic school. Now there is virtually no difference in terms of test scores and philosophy and 58 has much better facilities such as a real gym.
Coney Island is the place in 2006!
Carroll Gardens all the way. What with Gowanus and Red Hook now hot destinations instead of places to be avoided, CG is becoming more and more desirable. As for gourmet food choices, let me mull my options on where to buy my holiday food: Caputos, Espositos, Fratelli…Be jealous Clinton Hill. Be very jealous.
i’m hoping for some decent shops on fulton in clinton hill. it seems when anyone discusses this, it’s always up near myrtle. fulton is awful and really needs everything, i.e., supermarket, deli, somewhere PLEASE to purchase fresh veggies. i hear a new condo development might happen near the post office on fulton by grand. i’m only for new development if it brings in some decent merchants.
I wouldn’t long or short any neighborhood. As far as prices go I think the whole city pretty much goes u/down together. Yet house prices should stabilize and buyers of new condos will have more choices and much less pressure.
I think we’ll see more development along 4th Avenue and Atlantic Yards will continue to be major newsmaker.
Also ‘upscaling’ of commercial is likely in Clinton Hill.
And selfishly hoping for fewer nightspots on Smith Street.
Long all neighborhoods next to prime ones. i.e. the part of crown heights next to Prospect Heights, the part of bed stuy next to clinton hill, greenwood heights, sunset park, etc.
I think the prime neighborhoods will stabilize or have slight increases but there are still a large number of people who want to buy but are priced out of the prime areas.
There will be increased interest certain blocks of Crown Heights – those with the great architecture, and Sunset Park – Corcoran is starting to explore SP due to the stock of Brownstones and the stepping stone that Greenwood heights has offered.