Open House Picks
Carroll Gardens 185 Huntington Street Vita Realty Sunday 12-2 $1,450,000 GMAP P*Shark Ditmas Park 109 Marlborough Road Corcoran Sunday 1-3 $1,250,000 GMAP P*Shark Lefferts Manor 258 Lincoln Road Brown Harris Stevens Sat 12:30-2:30, Sun 12-1:30 $1,150,000 GMAP P*Shark Park Slope 195A 8th Street Orrichio Anderson Sat 12-2:30, Sun 12-2:30 $1,095,000 GMAP P*Shark
Carroll Gardens
185 Huntington Street
Vita Realty
Sunday 12-2
$1,450,000
GMAP P*Shark
Ditmas Park
109 Marlborough Road
Corcoran
Sunday 1-3
$1,250,000
GMAP P*Shark
Lefferts Manor
258 Lincoln Road
Brown Harris Stevens
Sat 12:30-2:30, Sun 12-1:30
$1,150,000
GMAP P*Shark
Park Slope
195A 8th Street
Orrichio Anderson
Sat 12-2:30, Sun 12-2:30
$1,095,000
GMAP P*Shark
i love brooklyn too, but i think that other people their communities as well. and no one likes to be foreclosed upon.
the NY suburbs and boston are down; those are close enough that we’re not immune. rates are up, mortgage lenders are tightening standards, cuomo is investigating mortgage fraud, and hedge funds dealing in mortgages are collapsing (which will tighten liquidity and make it harder to get a loan). we will eventually see the effect of all of this on the Brooklyn market.
anyone have access to MLS data? it’d be fun to assemble “lowball” for brooklyn.
http://njrereport.com/index.php/2007/06/23/lowball-may-23-june-23-2007
more and more people think of brooklyn as a place to call home for a long time. even the newcomers. same with new york city as a whole. how many of us who read this think that nyc is one of the only places in the u.s. where we’d like to live.
i think that there’s a lot of us. this is a reason (and a relatively new one at that) why prices are going up, demand is holding steady or down-ish and things are acting differently in the market here than in other places around the country.
many of the folks who bought in phoenix or las vegas or florida or wherever don’t have the same notion as much of a place they love so much that they think they’ll stay put forever. many of those people moved from los angeles or other places to find cheaper housing. those of in new york are not in such a position because we love where we live more than any other place.
that’s my story, anyway and many of those i know.
Q. What’s the difference between a mortgage-backed security and a house?
A One is – and always has been – a kinda risky investment. The other is a house.
Just to add to Flatbush Gardener…
There are quite a few houses in PPS that have SERIOUSLY muddled exteriors… far less appealing than this house, which at least has uniform shingle… Take a walk down Stratford and Westminster between Albemarle and Beverley to see what I mean. Also, MKG has a house listed at 2.4 where the front porch has been entirely removed. I can add a couple of others on Rugby to the list, come to think of it…
I know for a fact, however, that the front of this house was reconfigured to enlarge the living room area. This is what makes the interior of the house feel relatively light and spacious.
So much paint to me is a turn-off – but the house on Buckingam which I hear is in contract for near the 1.9 million ask is also slathered in paint (although it does have tons more detail, but that means tons more detail to strip…. if your a stickler).
anon 2:29 how many houses do you own?
Perhaps you will be shocked to learn that the market is more expensive than you may think
i went to the 8th street open house. it’s cute (has original detail, etc), but needs a lot of work. and it’s gowanus. if they get anywhere near what they’re asking, i’d be shocked.
Anonymous at June 23, 2007 12:22 PM, you wrote:
“Maybe there are some mortgage-backed bonds you’d like to buy from Bear Stearns, too? Now that everybody else is trying desperately to get out?”
It won’t take terribly long before those bonds are worth a lot more. People who lump them with Citicorp in 1992, when Ross Perot said the bank was bankrupt, will look as silly as he did. The stock bottomed when he commented and then started upward on an extended bull run.
You wrote:
“All the folks who “stretched,” and all the folks who bet (and, amazingly, are STILL betting) that prices can only go up are about to take a bath.”
Why will they “take a bath”? The population of NYC is heading up. Brooklyn is growing. This does not lead to permanent price reductions in real estate. If you want eternally declining real estate prices, check some small towns in Iowa.
Real estate prices might level off or drop 5% in NYC. So what? The upward move will resume. Meanwhile, you either pay rent or pay the mortgage. Which is the better choice?
You wrote:
“I agree with Wade and the rest who still have some sense. A mil is a ridiculous price to pay right now for a house, compared with the cost of renting.”
Rent is often as skewed as you seem to think prices are.
Anyway, there are some “affordable” homes out in Coney Island. Try West 17th Street and the surrounding streets. If AY is built more-or-less to plan and other developments occur in downtown Brooklyn, the commute from Coney Island to work at those locations will cause no problems.
10:22, you’re whistling past the graveyard. You’ll look good in that Starbucks hat, yet, shillster.
Maybe there are some mortgage-backed bonds you’d like to buy from Bear Stearns, too? Now that everybody else is trying desperately to get out?
All the folks who “stretched,” and all the folks who bet (and, amazingly, are STILL betting) that prices can only go up are about to take a bath.
I agree with Wade and the rest who still have some sense. A mil is a ridiculous price to pay right now for a house, compared with the cost of renting.
I shudder at the “needs TLC,” but this doesn’t seem seriously overpriced. The lot is 70×100, 40% larger than nearby homes that have sold for more. It’s over 3,000 square feet. The floorplan shows NINE bedrooms (lots of flexible uses of the space). And it’s in a landmark district.
Brenda: I’ll have to walk by and see it in person. From the single photo of the front of the house, I’m not sure that this exterior has been majorly modified. It’s unusual for the area, but every house there is unique. I’ve see other houses that didn’t originally have the usual full-front open porch.
There are several “seriously remuddled exteriors” in Prospect Park South – porches enclosed with brick or cinderblock, sunrooms of glass block – that look far worse than this does.
The Q train does NOT “run through the backyard.” On that block, the Q runs behind Buckingham Road, not Marlborough.