Open House Picks: Six Months Later
Comment: The Lehman effect kicking in. Open House Picks 9/26/08 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: The Lehman effect kicking in.
Open House Picks 9/26/08 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
No probs DP.
On the plus side, you would probably be able to rent your place out pretty easily if you didn’t sell before you bought your next place.
Whether this covers your outgoings depends on how big your current mortgage but the rental wouldn’t stack up for a full price buyer of your place.
chicken – thanks for your input, very helpful. i definitely think it’s a specific audience for a place like ours (then again, isn’t most real estate the same case?). i have done a bit of comparo in the neighborhood for similar spaces (unusual to find condos of this type to begin with). of what i could find, i’d say i’m not too far off from the price point i’m starting from.
then again, judging by some of the comments shared here by the regulars, i’m sure others will have varying opinions 🙂
and just for good measure, I have seen your listing on CL and it is priced too high but you probably know that already 😉
Equivalent sized condos in bigger buildings are being priced at half of that while for only a little more you can get the whole building and rent half of it out to really help with the mortgage.
Unfortunately, this means you have a really narrow market – buyers who really value the “features” of a frame victorian and don’t the downsides AND are willing to pay a big premium over an equivalent condo. Or someone that wants to live in a victorian but doesn’t need all the space AND is willing to pay more so they don’t have any of the hassle of being a landlord. I don’t think their are many of either around today.
I don’t think you will see much action unless you take an axe to your price. I don’t mean to hurt your feelings but that’s what it’s going to take if you really want to sell it.
btw, here’s what I mean:
broker 1:
“needs updating”, dark photos
http://snipurl.com/eug0s
broker 2:
no blurb, much brighter photos with good period features
http://snipurl.com/eug3d
I think it’s as much bad lighting as anything else in those photos. On the one hand the listing says “needs updating” but I have seen the same house listed as “in move-in condition” so really depends on what you are after.
One man’s “needs updating” is another’s “period features”. Personally, I would take the classic light fixtures of 657 over the modernised track lighting of 522 but that’s just my preference.
Easy way for you to find out if you are in Fiske Terrace – just stroll over there!
I don’t know what the form is for posting listings – maybe worth sending Mr B an email with the listing and see if he will show it as COTD if it is interesting? (be prepared for inevitable “price is too high comments though). Good luck!
chicken – thanks for the heads-up on 675. looks a bit questionable due to lack of good photos.
anyway, what’s the protocol here for posting a listing? we’re looking to sell our place on E17th (a 1st floor condo in a victorian).
if anyone is interested, let me know – i can re-post on CL.
pop and archi, yes those few blocks do seem a little detached. I personally don’t mind but there has to be a trade-off on the prices which the sellers don’t seem willing to admit.
They are asking Beverley Square prices for South Midwood locations.
ditmaspark, I thought that maybe it had been sold although since Corcoran has a habit of plastering “sold” across webpages I guess not.
Can’t be any harm in trying if that’s what your budget is – all they can do is say no. I looked it up and 490 closed for 875k a couple of weeks ago. Even though 522 appears to be more modern, 490 had a lot more character and I would consider them comparable.
You should also check out 657 on the next block down which has just had a price cut to 895 I think. Was featured on Brownstoner as a HOTD not that long ago – here you go!
http://bstoner.wpengine.com/brownstoner/archives/2009/02/house_of_the_da_646.php
i’m still interested in the E24th property – don’t mind the distance to subway.
trying to keep in touch with the owner, hoping they’ll consider low 9’s. out of the question?