Open House Picks: Six Months Later
Comment: Nice price movement on 2nd Place! Open House Picks 11/7/08 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Nice price movement on 2nd Place!
Open House Picks 11/7/08 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
cornerbodega – Why on Earth would I speculate about how much DIBS’s house has depreciated? I think he is the first to admit that prices have come down since he bought it. So what? It’s not even clear to me what your goal is. Do you expect to get a cookie if all of a sudden he agrees with whatever it is you are saying?
On a mostly unrelated topic:
Does anyone else read curbed on a regular basis? The comments on that board are of an astonishingly low quality. Every discussion is dominated by people with cornerbodega’s general approach to debate (both the bulls and the bears). It really drives home for me how much the high quality of discussion on this site improves its usefulness.
I’ll let others chime in on how much Bed Stuy has fallen…
Who has lost 40% cornerbodega??? You apparently have no clue about anything to do with real estate since your only reason for being here is to mock someone whom you know absolutely nothing about. Complet & utter Moron.
Nope Slopfarm, obviously you don’t follow dibs rants and his “superiority” attitude regarding investments. The crazy thing is, everybody knows what kind of fool he really is. SPECULATIVE GHETTO INVESTMENT GONE POOF!
The 2nd Place building is huge and a mess. It needs pretty close to a gut renovation. Yeah, you might, stress might, be able get $1.4 per unit if you can make it condos, but it is a legal 3 family which puts your total at $4.2 million.
It would probably take close to a million plus to do the renovations. AT $2.6 if you have the cash, experience, and know you can get it done quick, quality, and inexpensive it might be doable for a developer to make a $100-300k profit on it, but it’s iffy right now…
It’s a great property, but needs a ton of work.
dibs, you talk a lot of cheerleading s*hit for somebody who lost 40% and counting on a huge asset. Any more $$$$ advice “Ghetto Money Manager”? Have a great weekend and oh, sweep that porch for your tenants. They’re still as you proclaim “lining up to get in”? LOL
Grow up, corner, and get some perspective. DIBS clearly enjoys his home, enjoys the community, is sprucing up his home, and is of sufficient means to withstand whatever this recession throws his way. Happiness and fulfillment can’t be measured in short-term fluctuations in equity. Your attempts at ridicule smack of the green-eyed monster. Hope one day you will find some meaningful way to enjoy life.
Sam -I think your point is valid
the problem is(as a current seller of one of those buildings you mention) if I set my asking price at a much lower # let’s say 100K less, are buyers perceiving it as a value OR are they still thinking – “wow they dropped the price by 100K 1.1mil which means I can offer 900K and hopefully get it for 950K”? you know? that’s what I think many sellers fear