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Old 12-04-2007, 05:45 PM
 
1,567 posts, read 2,768,186 times
Reputation: 1262

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Hi
Im thinking of buying a coop as Im sick of flushing money down the toilet on rent and have a few questions. Please exuse my questions if they sound stupid as Im trying to learn about this process.

I was looking at a few coops on bronx river road and was wondering how the are is over there?
Also how is the area near tuckahoe road?
How much off of the asking price to coops usually sell for? Should I contact the brokers directly to see different places and negotiate or do I need to hire someone that can help me?
If you have enough money to put 20 percent down (and possible pay for the whole thing is cash) will most coop boards approve you (for what its worth I am a professional poker player and file taxes with a schedule c as one)
Thanks for the help
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Old 12-04-2007, 06:29 PM
 
83 posts, read 319,267 times
Reputation: 22
I feel for your situation... westchester is overinflated for sure. No onecan tell you when you are ready to buy vs. rent. at the same time no one should tell you that renting is throwing money out of the window. Its not, at least not in this current market. The best advice that I have for you is to read the following article. Its a bit long but there is valuble information there as a buyer that you should know. If you could hold out until 2009, I would if I were you.

this will explain it... there is also a formula in there that will help you determine renting vs. buying. hope this helps
United States housing bubble - Wikipedia, the free encyclopedia
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Old 12-04-2007, 09:50 PM
 
1,567 posts, read 2,768,186 times
Reputation: 1262
thanks for the article
i probably wouldnt buy for a year or so anyway so the timing could be just right for me
i was also curious about the specific areas as well so if anyone could help with those as well it would be appreciated
The was another coop i was looking at on riverdale ave in yonkers near 263rd street
I remeber riverdale ave in the bronx being good, but i read a few posts on here which said southwest of the sprain in yonkers is usually bad so i wanted to double check
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Old 12-04-2007, 10:19 PM
 
83 posts, read 319,267 times
Reputation: 22
I wish I knew the area well to be able to give you an honest opinion. However, I dont. Of course this goes without say, take all inormation on this board with a grain of salt as people on here tend to be a bit too positive about every area. Just be aware that this site allows realtors to advertise and scout out buiz. so somtimes you get mis-information.

if you are going to buy end of 08 I think that may be excellent timing and could work out for you. of course only time will tell. you will know when the time is right for you. Good luck in your search.
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Old 12-05-2007, 07:08 AM
 
13,773 posts, read 33,789,735 times
Reputation: 10551
You can tell a realtor by the icon next to their name. Realtors are not allowed to solicit business on City-data, only to offer their opinions. If you see anyone soliciting business you should report their post and infractions will be handed out as needed.

Opinions are like nose hair, we all have them..

You need to take all the information on this site, weigh the good and the bad, and then make your own decision.
On every forum you will find ppl who hate or love where they live. If you read the posts, you will find, some never have anything good to say about an area and visa versa.

IMHO, the ppl who post the good and the bad are the more objective people.
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Old 12-05-2007, 09:51 AM
 
2,327 posts, read 5,034,105 times
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I always found Bronx River Road to be a little dreary. But if you want it, I would look at the very northern end, which is close to the Fleetwod train station, or the very southern end, which is close to the Woodlawn train station and all the great Irish restaurants/bars on McLean Avenue. The addresses on Bronx River Road range from something like #20 at the southern end to #850 at the northern end.
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