Open House Picks: Six Months Later
Comment: Holy cow, 329 President started out at $3,600,000! Open House Picks 3/27/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Holy cow, 329 President started out at $3,600,000!
Open House Picks 3/27/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
The President Street house was purchased at $1.15 million. First asking price was, indeed, $3.6 million (we neighbors on the block nearly gagged at that one). It was then reduced to $2.2, and now $1.88. The house is still not worth that much. Cheesy renovation, awkward floorplan, many open houses, no offers. Wouldn’t be surprised if it’s reduced further, but owner should really try to cut his losses and rent it for a while.
Looks like confirmed “sold’s” on the “six month’s later” are running pretty consistently at 25%. This includes a few “in contract” and a lot of “delisted” or “no information available.” Regardless, its pretty crazy that with this sample only roughly 25% are selling after 6 months+ on the market.
CLEARLY, one could “bid half off peak comps” and walk away with this Brownstone, Half Off. What would that be, about a 1.4MM bid, deal done at 1.65MM? I’ll have one of what BHO’s having.
1. shadow inventory. watch out this baby’s gonna bring down the market. or no need to sell plenty of equity, i think i’ll wait for a better market.
2. attrocious flip. this one’s hard to look at.
3. sold. a 12.5 ft wide house in Minard’s “dangerous” neighborhood easily cleared a buck. i’d say that’s a big price.
4. par for the market.
Folks, mostly another good example of asking prices meaning shite, with a dash of wide bid-ask spread.
and a note. even bho wouldn’t claim victory as tag line was not bid 50% of peak asks.
Seems like a good price for that tiny FG house, considering the size and location.
What are the CG owners thinking? Their asks were crazy even during peak bubble times…
It was a very narrow house so taht’s going to limit the pool of buyers. OTOH, a couple of posters really liked it, so it may be that they just sold as the market was moving against them.
I don’t see where President Street was ever listed for 3.6 million.
I see that it started at 2.5 million.
(Although it looks as though it was bought for 2.9 million in 2008).
that fort greene place was a sliver of a house.
joe – that’s very very funny.