Open House Picks 6 Months Later: 9/7/2007
Well, this almost seems like a zero-for-four batch, though 750 E. 21st allegedly has a firm offer (not in contract yet). The Cobble Hill house was originally listed at $2.9 mil; we caught it six months ago when the price had been chopped to $2.65. It’s now been fully rented out and is still for…
Well, this almost seems like a zero-for-four batch, though 750 E. 21st allegedly has a firm offer (not in contract yet). The Cobble Hill house was originally listed at $2.9 mil; we caught it six months ago when the price had been chopped to $2.65. It’s now been fully rented out and is still for sale at a slightly higher ask. 119 Bainbridge switched brokerages and was the subject of much chatter when it was House of the Day a few months ago. Brooklyn Properties now has it on their site at $1 mil.
Open House Picks 9/7/07 [Brownstoner]
1:09, if we made a list of unsold properties in bed stuy, there would not be enough room on this page.
what is your point?
3 homes for sale in a neighborhood of 70,000 means there is a glut?
wow…you’re a GENIUS!
DEAD, DEAD, DEAD. That’s what Brooklyn RE market will be come Spring.
OK 12:44 Park Slope homes are just selling away like Montgomery Place, 590 2ND STREET, 3rd Street
inferior complex much, 1:04?
no one said park slope defined the market.
they simply said that had there been a property on this list in park slope, it would have already sold.
that’s probably true.
are you ok??
1:01….
almost all of the 6 months later properties highlighted over the past few weeks DID sell and some for more than asking price. at least 3 of the 4 highlighted most weeks. if not all 4.
you’ve taken this crappy batch of 4 properties and applied it to the entire market at large?
nope. you certainly are not in the mensa society.
“These are all crappy neighborhoods. If Park Slope had been included in that list, you would have had something in the sold column.”
Park Slope does NOT define the real estate market in NYC.
Go back under the rock in Park Slope. Come out when you’re ready to face the facts.
12:30, What was the alleged value of that property in Q2/Q3 2007?
I wouldn’t exactly call these increases. Both “Alleged” increases are under 2% and they represent only an “Asking Price”. The gains we were seeing year over year previously were serious double digits and those were real selling prices not someone’s hopes and dreams. What they actually sell for is the only thing that matters. That they are still availble 6 months later speaks for itself. I am not doom and gloom, just realistic. The demand side of this equation was artificially inflated. Many of the buyers over the last 5 years would not qualify today? You don’t need to be a mensa society member to predict that either prices come down or supply must come down to equal the current demand to hold up prices. It hasn’t disappeared, but we are back to basics. You need your down payment, you need your documents verified, had better have a good credit score with enough equity and assets to qualify today. Nothing wrong with this. Definately a buying opportunity for anyone who stood by the sidelines during this recent mania, just got around to being ready to jump in, or was just waiting while sitting on some equity 🙂 and wants to buy in low. I don’t expect any quick returns either but am not looking for a flip. Using the traditional method of paying down a mortgage and building equity still works you know. There is nothing wrong with that. Using your equity for an investment piece and have the tenants pay down your mortgage while you write everything off on your taxes is even better. I don’t buy Mr. What’s total conclusion of depression gloom, but I do remember the late 80’s. If you don’t or if you believe it will continue to climb, well then go pay them thier asking price. Just remember, Real Estate brokers are lower than whale shit and that sinks to the bottom of the ocean. Offer them 70-80 cents on the dollar and if they get insulted tell them to piss off.
i just sold a property for $500 million dollars so the market is healthy