Open House Picks: Houses
Carroll Gardens 98 3rd Place Brown Harris Stevens Sunday 2:30-4:30 $2,450,000 GMAP P*Shark Park Slope 360A 5th Street Warren Lewis Sunday 2:30-4:30 $1,875,000 GMAP P*Shark Bedford Stuyvesant 111 Clifton Place Corcoran Sunday 12-1 $1,395,000 GMAP P*Shark Kensington 301 Caton Avenue Brooklyn Properties Sunday 1-3 $889,000 GMAP P*Shark Tune in tomorrow morning for Open House Picks:…
Carroll Gardens
98 3rd Place
Brown Harris Stevens
Sunday 2:30-4:30
$2,450,000
GMAP P*Shark
Park Slope
360A 5th Street
Warren Lewis
Sunday 2:30-4:30
$1,875,000
GMAP P*Shark
Bedford Stuyvesant
111 Clifton Place
Corcoran
Sunday 12-1
$1,395,000
GMAP P*Shark
Kensington
301 Caton Avenue
Brooklyn Properties
Sunday 1-3
$889,000
GMAP P*Shark
Tune in tomorrow morning for Open House Picks: Apartments
Check out the NYTimes today (Oct 30) – there’s a big article on decline in housing market in major cities including New York – housing in NYC is at last starting to decline like the rest of the country. It’s not true that NYC is totally immune to what’s happening nationally. Even prime Bklyn areas such a Park Slope are not immune. A townhouse on President Street near 5th Ave was just slashed 250K this week since there are no takers, and other properties are lingering. There is a limit to the excesses of what’s been going on, and this winter will probably see a significant slow-down and continued softening of the market.
5:02 – what housing does nationally has little to do with what it does here.
To 1:03.
My point was that she can do better by keeping the proceeds in foreign currencies than the unit she currently resides, which I presume will begin to depreciate in the near future. When the Fed cuts the rate this week, the housing will continue to depreciate nationally. However, peoples dailies like milk, oil, bread, clothes, corn. coffee etc… will increase dramatically over next several years.Its just practical for days ahead.
10/29 @ 9:35,
What makes you think we need the “benefit of your involvment.” We don’t need saving from people who were for the most part priced out of other neighborhoods. We have a thriving community that we are proud of as is. Of course there is always room for improvement and we are more than capable of working towards getting them inmplemented. We don’t need outsiders to save us. If you like the neighborhood welcome, but don’t come with an agenda.
11:52, you’re very lucky to have a nice downpayment. Don’t give up hope, you should be able to find something but it won’t be mint.
Our demographics:
Mid-30’s
Bought in 1 BR in Manhattan and sold in 2004.
Used proceeds for 2 Fam Brownstone in prime Carroll Gardens in fall 2005 (Had less in downpayment than you do).
House was cosmetically outdated but good layout. I have groovy 70’s bathrooms & 80’s kitchen.
Combined Salaries @ purchase time = $180K
Renting out 1 floor.
Renovating slowly since we spent all our money on the house!
12:47 – that makes no sense.
If today’s $2M property is yesterday’s $500K property, and for the same reason that $2M will be $4-5M in 2-3 years, why not hold onto the property. Only if you assume that the continued weakness of the dollar will NOT continue to result in higher property prices does your argument make sense. But if that’s your assumption, you need to explain it.
11:52,
Sell your unit and rent. Take the proceeds and buy EURO/YEN/YUAN denominated assets/currencies. What you’re witnessing is DOLLAR losing its value/confidence in the WORLD. That’s why todays Brooklyn $2million dollar brownstone is yesterdays $500K. Today’s 2Mil is yesterday’s 500K, simple. Within 2-3 years, its going to be 4-5millions that will equal 500K. This is where we are heading I am sorry to say.
11:52: Basically, you are us, except you waited longer. We traded up five years ago and that made all the difference.
But it’s not just people who got lucky with timing (like us) or rich people. It’s also the people who moved to Park Slope when it wasn’t as great as it is now. If you’re wondering how people like you managed to get a piece of the rock in a neighborhood with everything you want, it’s often because they moved there *before* it had everything they wanted. They worked on their neighborhoods, their houses, their schools, etc.
To put it in brownstone terms: a middle-class person (defined braodly) wanting to buy a whole house in NYC can’t expect to get a neighborhood in “move-in condition.” You can wait, and maybe there’ll be a trough you can buy into in a few years. Or you could look into neighborhoods like Greenwood Heights, Windsor Terrace or Kensington, with decent schools that would benefit from your getting involved.
11:52 – we consider ourselves buyers for the PS brownstone market and I can tell you our demographic:
– mid thirties, married no kids but soon to expand family
– combined income $350k and on the rise b/c husband is in finance and is at the lower end of the income growth trajectory
– liquid assets (as in, can be converted to down payment money) at around $700k
Hope that helps. Sorry that you didn’t buy earlier- I’m sure you must have a lot of regret about that. But hopefully as you said, prices will soften a bit and you can find something suitable.