Looking for 1 bedroom in West Village for $700K

I know something that is not on the market but it is 850K...heart of w/village on jane st. great doorman building. if you are serious let me know how to contact you

Why would you buy anything now? In a year it will be 30-50% less or maybe more....in 2 years down 70-75%. You are throwing your money away.

You will be able to buy a decent 1bd for 200k or so by the time this is all over.

According to Bloomberg "In 1999, the median sales price of all Manhattan apartments was just $310,000. By 2004, it almost doubled to $605,000. The average price per square foot rose from about $400 in 1999 to $1,251 last year."

Sounds like AT LEAST a 75% price cut to me. Get out IF you can, but if you are a buyer STAY AWAY, this market is a terrible sinking ship.

"Get out IF you can, but if you are a buyer STAY AWAY, this market is a terrible sinking ship."

AHHHH! LOUD NOISES!

how come they weren't so loud when they said to buy because they were going up?

They were actually - you just weren't around these parts yet. Regardless, just poking a little fun at anon3's kind-of-batty ranting.

85 Barrow is an extremely charming West Village location. A series of 4 bldgs I think forming a coop that is very reasonably run and financially stable. Building is in good condition. Most apartments have nice light and many have good western views. Higher floors even better views. All one bedrooms are in your price range.

The negative: it is a 6 story building that is a walk-up. The apartments are true 1-bedrooms (some are 2), but they are 'cozy'. Renovations require you to also rewire the units, but this isn't grossly expensive.

The building manager is terrific and will be very helpful. She also is a RE agent and represents some of the units for sale. If this type of set up is of interest, I'd strongly recommend checking out the building.

just trying to warn people. The brokers control this board. People need to know what is really happening out there and actually THINK about the biggest purchase they will probably ever make. I tried to warn people a year ago, but very few listened. Those that did are very happy they did not buy. I do think it is foolish to buy in this market. It is clear the market is heading south and at current prices that is a LOT of money to lose..

the brokers do not control SE fool. Anyone whose been here for more than 5 minutes know that bears like nyc10022, 30yrsREO, Rhino86, and stevejhx control it.

anon3: your comments above really aren't fair. Or honest. I, like most of the other regular posters here, am not a broker and have posted often in the past criticizing the industry and many agents. I don't recall your 'warnings' a year ago, but I'm quite sure you made them on here. So did Stevejhx and others. And some who didn't buy are surely happy now.

But what you ignore is that some who did buy (myself included) are also happy now. Market timing is a very unpleasant and often unsuccessful long-term investment or financial planning strategy. For many people, who crunch their own number and have a clear plan for the future, buying now could be a perfectly wise decision. Dying with more money in the bank than you needed in life does not do you any good. If you can afford to buy, have a prudent savings and overall financial plan, then trying to market time to save x% may not be best for you.

The flaw in many buy/sell analyses is that they are $-based only. they do not account for externalities like quality of life issues (e.g., if we wait 1-2 years to buy but want to be pregnant next summer, that means moving/renovating when the baby may be getting born and that won't work, so we will wait to have a baby to maximize RE buying power?). Putting one's life on hold, or one's enjoyment of it, for financial gain that may not be worth it in the long run seems foolish. It is an individual decision. It's as silly to say no one should buy now as it is to say brokers somehow control what I (or you) type on here.

kylewest, your response is articulate and well-reasoned.

Therefore, shut up.

Sincerely,

stevejhx
nyc10022
upperwestrenter
rhino83
w67thstreet
anon3
columbiacounty
aboutready