Houses in Brooklyn

I watch the Brooklyn market pretty closely. I'd say prices in Park Slope have dropped at least 10% to 15%, less in the really prime center and more on the edges. And things are very slow. Prices in the more "fringe" areas have dropped a lot more. Windsor Terrace, Clinton Hill, etc. Some asking prices are down as much as 500K. But most things are still asking way too much. I'd give it a while.

Get thee to brownstoner.com ASAP. Prices have dropped in prime brownstone Bk. All depends on how desperate the seller is.

These are going to be hard assets to price. You have your work cut out for you, familyguy, if what you want is a Brooklyn house.

I say that because pricing is going to be much clearer on apts going forward. There are a lot of them as a percentage of the housing stock, and there are a lot more of them as a percentage of listings being offered.

I'm more curious than interested. I know how hard it is to get financing on apartments in this climate (30% down seems to be the rule), so I wonder how the heck anyone can get financing to buy a 2 family or a 3 family. I really wonder how these deals can get done.