Open House Picks: Six Months Later
Comment: So-so. Open House Picks 9/25/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: So-so.
Open House Picks 9/25/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
PS house was tiny, very low ceilings on 1st level, in need of absolutely everything in a gut, and didn’t even have stairs or a front stoop. Seller is lucky to get $1.1M as this sat around with a lot of sub-$1M bids. Had a decent sized lot so buyer could build an extension; at least a $500K job, though worth it if they end up with a brand new reno in a good location for $1.6-$1.7 all-in.
The 1.7M Washington Ave house also needs a full brick-brick gut. The real deal, no cosmetic gut bull. It’s existing ‘renovation’ was planned and done by total incompetents (owners, arch, all trades). The electrical contractor who wired the place should have been shot for the work done there. It’s horrible amateur-hour work all over. And of no surprise to me it was a company that seems to be praised around here. The owners spent many years doing the renovation and put the house on the market before the paint dried. That means they knew what they did was a pile of crap.
When I first saw it in person I went back to read all the postings about it here and it made me realize how little most people notice. The building itself is nice and has potential as a shell, but it needs $1M+ worth of work to make it what it should be.
besides needing a gut reno the PS house was only 30′ deep
i hear you dave, question is are there enough people in that hood “out of pocket” type people? Maybe they are. I wouldn’t be bidding like it though.
The better MDs are opting out of all insurance programs and will probably make a lot more money money in that situation.
Thank you. Thank you very much.
Doctors are going to be put out of business?!
Posted by: tybur6 at March 26, 2010 1:52 PM
——
I have no idea, but i certainly wouldn’t be taking on any new investments if i were one. Would you?
Another 30% discount is coming soon — at a minimum. Prices eventually must return to a level where the rent vs. buy numbers are correlated. You bubble blowers aren’t thinking clearly.
The bubble has yet to be popped.
was hoping that washington house would drop to 1.4M. oh well.