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Re: History of

I think buyers are being more selective now than 6 months ago. They are taking the time to look at everything on the market and weighing their options before placing an offer.

So, in response to your question, yes, there are real buyers out there.

Posted on: 2006/2/23 14:56

Re: History of

I think injcsince81 is a renter with no money to buy and is pretty pissed off he/she was priced out of the market long, long ago...just my honest "public" opinion.

I do not "have to" sell. I would like to sell. I have a very personal reason for asking Steve to put our home on the market. I even typed it out here but Steve asked that I edit and not post it as it is very personal to us. I will PM you with it though and I guarantee that you will feel like an absolute jack-arse for this post when you read it.

As for the previous price and website: Steve enjoys creating them, especially over a glass of wine after dinner. He created it last year without the intention of selling. I did not agree with it because frankly, I just moved in and I love this place. I had no wish to move. If you must know, we had an offer for 950k last April from a buyer who found the site on the web. I turned it down because as I stated above, I did not want to move. I?m pretty sure I still have the written offer in my files somewhere. As for the current price, it is in no way a reduction. We decided on a price that will allow us a faster sale. This does not mean the market has gone down - as you wish. This just simply means that I want to attract a quick sale.

In the future, I suggest that you exercise some restraint before you decide to create a post about someones personal property without having full knowledge of the owners situation.

I hope I answered any questions you may have had.

If you would like to apologize, feel free to PM me.


Posted on: 2006/1/12 18:32

Re: $2M Brownstone In Paulus Hook?

Yes, agreed, it does have nice lines. I purchased the building in the picture.

The market in Paulus Hook is on fire, there are no bargains. I also believe that those waiting for the market to tank, thinking you?ll be able pickup a Paulus hook brownstone in a year or two for 10-20% less than the today?s prices do not understand the demographic change that continues to take place in downtown JC.

This thread touches upon it, but missed one important observation, namely the reason why brownstone buyer?s do not care that any potential rental income of the properties will not cover the standard 30-year fixed rate mortgage payment. Personally, I believe the reason for this is that new money is entering the Paulus Hook market. Figures which seem high are in fact relative bargains to those migrating from NYC?s real estate market. $2M to these buyers is not a lot of money.

When you compare the $2M brownstone on Sussex, which started this thread, to NYC property or even the price of condos in the Sugarhouse and MG, I?m left with the conclusion that you?ve missed-the-boat if you think $1M will buy you a brownstone in Paulus Hook. Budget $1.3M to $2M, and in my opinion, come back next year with $1.5M to $2.3M. Why the continued price rise? Interest rates rises will not matter, these new buyers are flush with cash. In 18-months time all new construction in Paulus Hook will have finished. And other then a couple of empty lots on Morris and Sussex which selling for $800K+, there is no more land. The new development of Liberty Harbor North looks like they are building brownstones and rowhouse, but they are in fact two/three story condos made to look like single family homes. Therefore, there will be no more large single family brownstones or rowhouses constructed, and these few properties will slowly but surely become the grand homes to doctors, lawyers, CEOs and Walls St. types.

Paulus Hook will be a very different place in 5 to 10 years time, maybe not better but certainly more affluent.

Posted on: 2005/7/28 14:26

Re: $2M Brownstone In Paulus Hook?

You can expect to see maybe one brownstone/rowhouse on the market per year in Paulus Hook, daroogle. They just don't come on the market that often.

Posted on: 2005/7/28 10:52




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