Open House Picks: Townhouses
Brooklyn Heights 300 Hicks Street Brooklyn Heights RE Sunday 1:30-4 $2,500,000 GMAP P*Shark Park Slope 365 2nd Street Brooklyn Properties Sunday 1-3 $1,699,000 GMAP P*Shark Ditmas Park 751 East 19th Street FSBO Fri 5-8, Sat 5-8 $1,495,000 GMAP P*Shark Fort Greene 39 Vanderbilt Avenue Brooklyn Cornerstone Sunday 12-2 $999,,000 GMAP P*Shark Bedford Stuyvesant 286 Van…
Brooklyn Heights
300 Hicks Street
Brooklyn Heights RE
Sunday 1:30-4
$2,500,000
GMAP P*Shark
Park Slope
365 2nd Street
Brooklyn Properties
Sunday 1-3
$1,699,000
GMAP P*Shark
Ditmas Park
751 East 19th Street
FSBO
Fri 5-8, Sat 5-8
$1,495,000
GMAP P*Shark
Fort Greene
39 Vanderbilt Avenue
Brooklyn Cornerstone
Sunday 12-2
$999,,000
GMAP P*Shark
Bedford Stuyvesant
286 Van Buren Street
Corcoran
Sunday 2:30-4:30
$699,000 $639,000
GMAP P*Shark Archive!
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OK, so you would rather give your money to a landlord…never to be seen again. I would prefer for there to be some hope of a return of and on that money.
“That is terribly incorrect. You must be a perpetual renter. The monthly cost may be better to rent, but… interest deduction is the best tax break we get in the U.S. AND renting is just giving your money to someone else. At least allow that money to go to equity in your house. Not to mention, you may get some appreciation in your house value…definately get appreciation over the long term. Renting is just throwing your money away.”
So interest, maintenance and taxes all go in the buyers’ pockets? I wasn’t aware that all of these expenses were refunded to the buyer once paid. Pay the landlord or pay the plumber, bank, and tax man. Take your pick.
Tax deduction: If you want a tax deduction buy stock in a company that has lot of debt. Corporate interest is tax deductible, too. Oh, and all those well-heeled bankers running around with bonus money are subject to AMT, which limits their ability to take deductions (like mortgage interest) against their income.
The ease with which you cling to the idea that real estate is a great investment just because it’s gone up a lot reflects why we’re in a bubble. It reminds me of the overconfidence of tech stock investors in the late 90’s….
Methinks this domain/blog site has finally lost all sense of control. Not one of the postings to me make sense in relation to open house picks.
Sorry. THis is dead.
Don’t forget also that you get depreciate the value of your house over time. Between that and deducting mortgage interest, I think buying is the better idea if you can come up with the down payment.
“We are at a point in the market now where it costs less to rent a place than own a comparable place…so why buy? The argument that you’re paying yourself by owning is basically a lie.”
That is terribly incorrect. You must be a perpetual renter. The monthly cost may be better to rent, but… interest deduction is the best tax break we get in the U.S. AND renting is just giving your money to someone else. At least allow that money to go to equity in your house. Not to mention, you may get some appreciation in your house value…definately get appreciation over the long term. Renting is just throwing your money away.
If I am a considering buying, I would buy TODAY rather than wait for Wall Street to get their bonuses in January.
If there is going to be a “correction” in pricing, then it will not be much (say, 5-10% depending on how fringe). So if I am going to live there a while, then it makes sense to go ahead and buy today.
There are a few factors at work which will keep prices at (or close to) today’s level. First, wall street will always generate buyers as the firms go thru new employees, etc. Second, they are not building new 1880s brownstones/townhouses. There is an inherent supply constraint in that product and always will be.
had typo in my post . meant to say stores that sell other peoples garbage, sorry.
i lived on second street between 5/6 ave 10 years ago. when people would visit me then if they came up fifth avenue they said i lived in the ghetto. nobody would go near the park and then slowly things changed , the associated supermarket is where great lakes and blue ribbon are (post failed restauraunt vaux). truthfully i liked 5th avenue better somewhere between 1994 and now. in 1994 it wasn’t safe enough but now 5th avenue is part of the penal colony of manhattan as is most of brownstore brooklyn. how many coffee shops and overpriced brunch places,stores that sell 80 dollar shirts , which sell other peoples garbage and others that sell 20 dollar t shirts can one neighborhood take. not to mention cookie cutter luxe condos. i still love park slope but its progress is on a downward slope when it comes to neighborhood feel. how long until this is the upper west side with the density to match. just a thought.