February 17th, 2012

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Prospect Lefferts Garden Homes – Market High / Low

Prospect Lefferts Gardens houses features many attractive details. In this edition of Market High / Low, we are looking at one-family homes in the neighborhood.

High: $1.6M

51 Midwood, Prospect Lefferts Garden, Brooklyn

In May of last year, the popular real estate blog Brownstoner reported a story about this property, then listed for $1,600,000.  City records show a deed was signed for $1.6M in fall of 2011. This property is at the high end of the market, but there are reasons why it attracted this price.

The kitchen area is so immaculate and stunning, you could bring in a TV crew to film your cooking.  Cream cabinets make the large kitchen area appear even more spacious and the fixtures gleam from across the room.

Also, families who would like to buy a home in Park Slope but can’t are turning to neighborhoods like Prospect-Lefferts Garden and Kensington. The atmosphere of Prospect-Lefferts Garden, peaceful streets and quiet atmosphere, offer a welcome retreat from hectic city life and even the heavy stroller traffic in Park Slope.

The house features intricate woodwork, some of which appears to be original details, and mosaics as well. Some of the seashells in one tiled area appeared slightly gawdy, but you can’t order this type of craftsmanship from HomeDepot.com. Many people don’t see the point in renovating their homes before going to sell, but it’s possible a few carved pine trees and Alhambra-esque mosaics could increase the value of your property.

Houses houses on this block went to market for similar prices, and sources told Brownstoner that 51 Midwood was the nicest of the group.  Also, parents who rented in Park Slope and move to Lefferts Garden can still be a short subway ride away from their childrens’ friends in their old neighborhood.

 

Low: $370,000

316 Maple Street, Prospect Lefferts Gardens

Prospect Lefferts Garden house
This one-family house was featured on Brownstoner in 2007 and 2009 with various price tags, first for $1,200,000  and then for $689,000. We were not able to verify the older listing prices. Oddly enough though, the building ended up selling in October for $370,000. A deed was signed for this amount according to city records. That’s quite a sleep descent from $1.2M, but in 2007, Brownstoner was calling the building one of the most overpriced properties he had seen in a long time. The drop in price is unusual, so perhaps the condition inside wasn’t very good.

February 17th, 2012

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Brooklyn Househunters: A Weekend Wake-Up Call

Hello househunters,

As we approach the holiday weekend, you might have extra time to look for a new house in Brooklyn. The agents at B.H. TAL Real Estate are always glad to find solutions to all your housing needs.  Investing in real estate can signal the end to the woes of renting and open up a new chapter in your life.

Many of our properties have features that you will love: gourmet kitchens, wood floors, lots of closet space, extra units that will help you pay off a mortgage, spacious living rooms and great backyard patios.

If you are looking for a new home or investment property in Brooklyn, don’t hesitate to contact our office. The main line is (718) 773-0533. Our fantastic, experienced agents are always ready to help.

February 17th, 2012

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Real Estate Lunchtime Wrap: Must-Read News Across the Web

Brownstoner: More Traffic Signals Coming to Kent Avenue. This will make crossing the street a little easier in Williamsburg.

MSN Real Estate: How to Talk to Your Architect

New York Times: Where the Secrets Were Kept – a look at false doors and hidden staircases in New York apartments.

Brownstoner: Cornell’s David Huttenlocher Named Founding Dean of NYC Tech Campus

VIDEO: Housing and Urban Development Secretary Shaun Donovan talks to the Wall Street Journal. Click here to watch>>

New York Times: A Loft Aesthetic in a Chintz World

USA Today: House Passes Payroll Tax Cut Extension

The Brooklyn Paper: Weekend Reads From 3 Brooklyn Booksellers

New York Post: Real Estate Broker Sues Billionaire Ron Burkle

 

February 16th, 2012

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Real Estate Lunchtime Wrap

USA Today: Good news on Unemployment, Surge in Apartment Building

New York Times: The Tricky Task of Renovating a Building Without Altering Its Landmark Insides

New York Times: Shopping with Interior Designer Alexa Hampton

New York Daily News: Jeremy Lin Picks Apartment in White Plains

Brownstoner: Gap Factory Store to Open in Fulton Mall

Brooklyn Eagle: Luxury Condo Development The Edge 90% Sold

February 15th, 2012

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Builder Confidence Rises

The National Association of Home Builders reported today that builder confidence reached its highest level since 2007. The NAHB/Well Fargo Housing Market Index increased from 25 to 29, rising for the fifth month in a row.

In a press release, NAHB chief economist David Crowe also issued several cautionary reminders. He said, “Several factors continue to constrain the market. Foreclosures are still competing with new home sales, and many builders are seeing appraisals come in at less than the cost of construction. Additionally, prospective home buyers are finding it difficult to qualify for a mortgage.”

In other related news, the Brooklyn Paper says that the development company Steiner NYC could begin building a high rise tower at the corner of Flatbush Avenue and Schermerhorn Street early next year. The proposed building is 52 stories high.