Open House Picks

I don’t think it’s because things are overprice in theory – things were selling fast and furious at higher prices 18 months ago. People were paying up.

The entire economy has slowed. I would say that things are not selling because things are just not selling – that may mean things would sell if the prices came down, but I’m not so sure. The $975 house has been there awhile, and a couple of others, too. I think people are just being very prudent right now. People aren’t buying unless they feel they absolutely have to.

Architerrorist – i did not see 975k house – just online. you are probably right about that house. i love the area and plan on looking in Midwood when were ready to move. the entire area i think is great. as long as we can find an affordable home – which will definetly mean renovations needed.

we are waiting out this soft market to sell our brownstone.

8:43, here. Can’t seem to log on as guest, but it’s me, and no, I’m not a broker, just a resident of the area.

This house is small for PPS, but not for Victorian Flatbush, generally. Like I said, it’s more similar to its neighbors in BSW and DPW, etc…. Houses in those sections in good nick, however, are still commanding higher price tags than the current asking for the Stratford Rd house.

As for the $975 house, if you think that block is preferrable to Stratford in PPS, you really need to spend more time in the neighborhood. It is spitting distance from Flatbush Avenue, which makes Coney Island Avenue seem like a country lane. Also, what renos that have taken place in that house seem to be Home Depot specials and the exterior needs a lot of work. No idea about the systems, but for that price, you can bet it needs to plumbing and electric. You can get a house relatively cheap in Victorian Flatbush, but be prepared to do the work (which will be considerable) and to spend the same, if not more, for the finished product. Trust me, I’ve been there.

2:34,

We moved tenants that we already had into our unit. We already knew them and knew that they would appreciate the work that we put into our kitchen and baths. They had already started a family and needed a bigger space so that worked out well.

Each unit has its own circuit breakers which is an added benefit. However, the tenant of the main unit does have access to the sub-basement and can give the other tenants access if needed.

Market price of course will depend on the neighborhood but even in prime areas, the main unit duplex would not necessarily go for twice as much as the other units. The square footage, layout and ammenities within the apartment would also factor into the price. Some duplexes are easily shared by two, three or more people. I know people who prefer to rent to people sharing because they are able to get more rent this way. That arrangement is contingent upon the placement and size of the bedrooms. A good local broker should be able to help price the rental appropriately. The other issue is how far away you are moving from your house. We are in Ditmas but can be back at the other house in fifteen minutes if there is a major problem. If you are going far, do you have someone in close proximity that will handle emergencies?