You know what sucks?

NEW -> Contingent Buyer Assistance Program
[quote author="usctrojanman29" date=1246409196][quote author="tmare" date=1246366570][quote author="graphrix" date=1246362960]Only I can hijack my own threads, damn it! %-P



Yes, FP and Park Santiago are starting to crack. I think I recall mentioning something about the shift to the higher end properties somewhere before...



http://i41.tinypic.com/2hzu0jn.jpg



Most of the loans are from the 04-07 vintages. It's the 07 vintage that still drank the Kool-Aid, and thought these areas were immune. Oops. Sorry, tmare and bk. But, the good news is the properties are not prime properties, more less the "eh" to "fairly nice" properties. When the prime ones really start to crack... you will notice an eerie silence from me and no_vas.</blockquote>


Yep! Exactly four on my street in that map. Crazy!</blockquote>
2 blues and 2 greens? But look at the bright side tmare, the result of all those pretty dots may result in us being neighbors (I'd love to be able to pick up a home over there for around $200/sf). haha</blockquote>


3 green and a red.
 
[quote author="graphrix" date=1246362960]Only I can hijack my own threads, damn it! %-P



Yes, FP and Park Santiago are starting to crack. I think I recall mentioning something about the shift to the higher end properties somewhere before...



http://i41.tinypic.com/2hzu0jn.jpg



Most of the loans are from the 04-07 vintages. It's the 07 vintage that still drank the Kool-Aid, and thought these areas were immune. Oops. Sorry, tmare and bk. But, the good news is the properties are not prime properties, more less the "eh" to "fairly nice" properties. When the prime ones really start to crack... you will notice an eerie silence from me and no_vas.</blockquote>


There are 9 dots in FP. 5 greens and 4 blues. Most of them are located at the fringes that Graph is labeling as "eh". 9 out of 648 homes is 1.4%. That should be considered low for now. Some immediately north of 17th St by Broadway is not a part of FP and 4 dots by 106 is Shea.



There was a house sold for mid 500K through probate auction. A gay couple bought the single story fixer-upper house and is currently renovating it. They went to the home tour and took some notes and ideas.
 
[quote author="bkshopr" date=1246413535]3 green and a red.</blockquote>


That is correct, but you and I also know the difference between FP and PS. ;-)
 
[quote author="graphrix" date=1246430103][quote author="bkshopr" date=1246413535]3 green and a red.</blockquote>


That is correct, but you and I also know the difference between FP and PS. ;-)</blockquote>


And Morrisson Park, Washinton Square, Fisher Park, etc... Bk knows all. BTW, even in PS we are attached to neighborhoods that really aren't considered PS. Most people think that Morrisson Park, Fisher Park and the Retreat are a part of Floral Park, but they really aren't. Nevertheless, I do see 4 dots on my street. I would have to agree that aside from one of them, they are not at all the nice properties in the neighborhood. There is one that was purchased for 800K, I believe in 2005 and it's pretty nice.
 
The fringes for both FP and PS are very close to the traffic corridor lacking ambiance and most of them are not a part of the neighborhoods at all. The properties built along the fringes were built at a different era and borrowed the good name over the years. The dots for both neighborhoods are located toward the fringes that is not the core of the neighborhood and especially for PS. The kink on Santiago St by Santa Clara is a subtle demarcation for PS's boundary. The dots are mostly south and east of there in the fringes. Bargain hunters are disappointed when they learned the dots are not that good and not really centrally located in the best part of the neighborhoods
 
[quote author="bkshopr" date=1246431989]The fringes for both FP and PS are very close to the traffic corridor lacking ambiance and most of them are not a part of the neighborhoods at all. The properties built along the fringes were built at a different era and borrowed the good name over the years. The dots for both neighborhoods are located toward the fringes that is not the core of the neighborhood and especially for PS. The kink on Santiago St by Santa Clara is a subtle demarcation for PS's boundary. The dots are mostly south and east of there in the fringes. Bargain hunters are disappointed when they learned the dots are not that good and not really centrally located in the best part of the neighborhoods</blockquote>


Yes, but they still call themselves PS. I would say that Santiago Street is very much a part of the neighborhood (all of it) but anything east of Santiago Street is really not a part of the neighborhood (60's/70's style, garage dominant homes). However, the foreclosures of late are a bit more concerning because they are definitely a part of PS and there are more of them than in Floral Park and Floral Park is much bigger.
 
[quote author="tmare" date=1246432861][quote author="bkshopr" date=1246431989]The fringes for both FP and PS are very close to the traffic corridor lacking ambiance and most of them are not a part of the neighborhoods at all. The properties built along the fringes were built at a different era and borrowed the good name over the years. The dots for both neighborhoods are located toward the fringes that is not the core of the neighborhood and especially for PS. The kink on Santiago St by Santa Clara is a subtle demarcation for PS's boundary. The dots are mostly south and east of there in the fringes. Bargain hunters are disappointed when they learned the dots are not that good and not really centrally located in the best part of the neighborhoods</blockquote>


Yes, but they still call themselves PS. I would say that Santiago Street is very much a part of the neighborhood (all of it) but anything east of Santiago Street is really not a part of the neighborhood (60's/70's style, garage dominant homes). However, the foreclosures of late are a bit more concerning because they are definitely a part of PS and there are more of them than in Floral Park and Floral Park is much bigger.</blockquote>


As I have been tracking FP and PS for years before I bought. Fewer FP homes were on the market and thus fewer RE transactions during the bubble era. The folks at FP paid off their home long time ago and are sitting on a lot of un-tapped equity. Fewer HELOC abusers are in FP. Median age in FP is around mid 50s and this age group has a better sense of financial management as well as job security. I have not heard of a laid off surgeon, mayor or politician yet. I am the only high risk FP resident.
 
[quote author="tmare" date=1246430634]And Morrisson Park, Washinton Square, Fisher Park, etc... Bk knows all. BTW, even in PS we are attached to neighborhoods that really aren't considered PS. Most people think that Morrisson Park, Fisher Park and <strong>the Retreat</strong> are a part of Floral Park, but they really aren't. Nevertheless, I do see 4 dots on my street. I would have to agree that aside from one of them, they are not at all the nice properties in the neighborhood. There is one that was purchased for 800K, I believe in 2005 and it's pretty nice.</blockquote>


Ack! Anyone who lives in the area, that is not in the retreat (Shea's tragedy), needs to take those that live in the retreat that claim it is FP, on a field trip to 1st street and drop them off next to the building with the most bullet holes. Hopefully they won't miss this time.
 
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