Open House Picks

wow, 12:44, you are a moron. Unless the person sells the home, there are no gains or losses.

You freaks who think the prices are going to tank should point out when are where this is going to happen. Your scare tactic that it could be at any time are just pathetic. The great boogy man that could come and snatch you in the night when you are not watching!

Isn’t happening and your attempts to fight the bitter renter tag fail miserably.

NOP, I went to the St. Marks house. I passed the Dean St house coming and going, and there were quite a few people there both times, so it looks like they had a good turnout. Since I did not go in, I can’t comment on the house, except its exterior, but since I live almost as close to NY Ave, I have to disagree with the poster complaining about the noise from the bus. I don’t even hear it anymore, and my corner has the bus stop, unlike Dean Street. The traffic can get backed up, and quite busy, but this is New York, I don’t expect a country lane. Unless there is a jam and people start honking, I don’t hear traffic at all, and I expect whoever buys this house wouldn’t either.

St. Marks house: They called it Millionaire’s Row, so I expected rich detail and I wasn’t disappointed. Wow. They must have deforested a whole mahogany forest for this place. The parlour floor has woodwork and detail for days. Nice wide 23’ house. Beautiful built-ins, all on angles in corners, so no room is completely square, including the placement of the fireplaces. I loved it. That said, it does need a great deal of work. Deferred maintenance issues, mostly. The usual – plumbing, electricity, new kitchen(s), bathrooms, HVAC, some leakage issues, some new floors where leakage, and general restoration of rest of floors, and the usual cosmetic goodies. The top two floors probably were rented out, so there are some partitions to knock down to open it up again. Lots of beautiful dressing rooms between the bedrooms, but all need much work to restore. It is essentially a one family, although they obviously rented out rooms on the top two floors, and there are the remains of another kitchen on the top floor. Back yard is clear, just needs deforestation and landscaping. No trees.

Someone did some dubious exterior work on the top floors of this and its adjoining twin, and the period façade is not intact, but that could be corrected with some imagination and dollars. It is next door to those gorgeous Montrose Morris gems, and the side windows of the house, especially on the upper floors, gives you a wonderful view of the gables and varied planes of the slate roofs of both the house and the exquisite stone carriage house behind it. As an architectural nut, and great admirer of my nom de plume, that is a worthy bonus for me

It would be a labor of love to restore this house. It would make a great B&B, or house for a large family, as it would be a shame to cut it up. It will take quite a bit of money, and would not be for the faint of heart. Why can’t Lotto pick my numbers? So unfair!

– Montrose Morris

“9:24: You are an idiot. You don’t lose equity if you have already put the money down or payments on your mortgage have gone to principal. Your mortgage doesn’t change either. You only have an issue if you try to sell.
“It is obvious that you have no concept of how a mortgage works. Keep renting and helping to pay your landlord’s mortgage.
“Asshat.
“Bitter renter = fuzzy math wiz
Posted by: guest at June 29, 2008 5:40 PM”

Wow. Rude name calling and doesn’t even know what “equity” means. Maybe you should do a little remedial kindergarten.

Or is this a new manifestation of the bubble: do overpriced houses now come with a guarantee that owners can’t lose equity!? Is that a natural law, a covenant given at Sinai, or just a perverse way of expressing extreme faith in the skills (and goals) of the Federal Reserve?

Leverage works to amplify your losses on the way down just as it amplifies gains on the way up. Anyone who doesn’t understand that really doesn’t understand how mortgages work.

“I’d suggest buying now if you’re going to or else in 3 years you may very well get a cheaper house in a prime area, but you’re going to be paying the same mortgage payment, just with more interest.”

You’re assuming the absense of a growing savings account. More money down on a cheaper house. Same monthly payment (including interest) and maybe even lower. Not everyone blows away the savings between renting and buying in this assinine price environment. Bad assumption. Miserable argument.

^^ I hope this asshat is just a bot. if not, you have a seriously deranged and pathetic individual on your hands ^^