Open House Picks
Brooklyn Heights 165 Columbia Heights Halstead Archive! Sunday 1-4 $5,500,000 GMAP P*Shark Park Slope 189 6th Avenue Century 21 Sunday 11-12:30 $1,895,000 GMAP P*Shark Clinton Hill 22 Clifton Place Brown Harris Stevens Archive! Sunday 11-1 $1,790,000 GMAP P*Shark Prospect Park South 169 Stratford Road Mary Kay Gallagher Archive! Sunday 1-3 $1,260,000 GMAP P*Shark
Brooklyn Heights
165 Columbia Heights
Halstead Archive!
Sunday 1-4
$5,500,000
GMAP P*Shark
Park Slope
189 6th Avenue
Century 21
Sunday 11-12:30
$1,895,000
GMAP P*Shark
Clinton Hill
22 Clifton Place
Brown Harris Stevens Archive!
Sunday 11-1
$1,790,000
GMAP P*Shark
Prospect Park South
169 Stratford Road
Mary Kay Gallagher Archive!
Sunday 1-3
$1,260,000
GMAP P*Shark
3:11#1, can you come up with a login ID that isn’t so reflective of your stalking, obsessive personality?
I have seen many people complain that these old Victorian homes are not updated. Here is one that has been nicely renovated and a poster complains that he/she wouldn’t want to pay for the updated kitchen. Go figure.
There are a lot of open houses this weekend. I am curious how many will sell. The next few weeks will be the test if Brownstone Brooklyn prices start dipping like the rest of the country.
Aussie 3:30pm said:
“2.44: You are correct they are not buying these houses… but the ones that have >$1600 can live on one floor (of some of these houses) and pay rent enabling someone else to buy.”
$1,600 x 4 = $6,400 in monthly rent role
$1.9MM price = $1.5MM mortgage (80% down)is about $9,000 PLUS maint. PLUS tax PLUS insurance.
Great point that “ones that have >$1600 can live on one floor … pay rent enabling someone else to buy.” … NOT!
Asshat, go back to the penal colony.
Aussie – as to when to buy again, I can tell you that yes, we are holding our money in cash (sold our other place recently to trade up, and renting in meantime in school zone of choice) and that we will buy when we find a nice home that is reasonably priced. By reasonable, I mean in line with comps and not asking pie-in-the-sky prices. So, perhaps 500-700psf which is not a low psf for a house (we’re seeking about 2000 sf) in a good area, given many comps. We’ve seen a number of houses in the last year or two that fit the bill, but weren’t ready to buy then. We are NOT waiting for prices to fall by a set amount, but we ARE refusing to pay some of the ridiculous prices that sellers/brokers are putting forth in what feels like a desperate gasp to cash in on a long run-up, which for now, is over, and if anything, prices are headed down a bit, yes even in NYC, for a few years. Sure, 5-10 years from now, they may go back up and probably will, but it’s hard to say how long it will take. The last NYC real estate bust in late 80s took many years to recover from and some sellers are not in a position to wait that long. We are in it for the long-term (our next home will hopefully be our last) which is why we’re not waiting for “the bottom” but truly, we see evidence of price declines, so would rather wait and see at least for the next 6 months-year since certainly prices are not going up right now, and if anything, we see price cuts and we’d rather have a lower mortgage! But again, sellers can still make
i checked property shark for PPS house. it was sold in 2006 for 1,160,000. pretty scary that it is now for sale for 1,260,000. they probably can’t afford to go any lower.
i personally love the house.
the realtor representing the 6th Avenue house is a true sleazebag. would not trust him AT ALL, and I am talking from personal experience.
3pm may be right – the sky is not falling. NYC real estate probably will not crash and plummet. But it is looking very likely it will weaken and prices will have to come down a bit. I’m in the market for a townhouse in the 1.5 range (up to 2mil with income) and see a lot of crap right now that is overpriced. But I’m also seeing price cuts and so I’m waiting for a while and not rushing into anything since it makes a difference to me whether I pay 100-200K more today than I might 6 months from now. But sellers seem to be reluctant to sell right now (I think, since inventory remains low) and they should not. Prices are still plenty high, and surely way above what they paid if they bought before 2005-06. If I were a seller thinking of selling, I’d do it now, or soon, at a realistic price point since I actually think the next few years look pretty uncertain…
3:15 — I do understand the roles of the GSEs in the market. They are not going away and they will not stop serving these roles. Their shareholders may lose everything, but that doesn’t mean they are going to disappear. Most companies don’t disappear when they go into bankruptcy or otherwise become insolvent. The mortgage market is starting to look like it used to (you actually have to have a job and good credit to get a loan and actually have to put some money down). New York housing prices are headed down, possibly sharply. But that’s perfectly fine. The sky is not falling, unless of course you bought in the past couple of years and have no equity, in which case you frankly chose your own fate and should accept the consequences.